Latest Business News Wires - Business Headlines


  • May 21- EBay Inc issued a notice on its websites asking users to change their passwords, but took down the message a short time later without explanation. EBay and PayPal representatives were not immediately available for comment on the notice issued at 1:30 a.m. ET, which was previously reported by tech blog Engadget.

  • GM recalls 218,000 Aveo cars in U.S. - NHTSA filing Wednesday, 21 May 2014 | 8:23 AM ET

    DETROIT, May 21- General Motors Co is recalling 218,000 older-generation Chevrolet small cars in the United States for a potential fire hazard, adding to the largest U.S. automaker's record recall total, according to U.S. safety regulators.

  • May 21- Teen apparel retailer American Eagle Outfitters Inc's quarterly profit slumped 86 percent as it struggles to attract shoppers amid intense competition and weak demand. The company's net income fell to $3.87 million, or 2 cents per share, in the first quarter ended May 3 from $27.98 million, or 14 cents per share, a year earlier.

  • *EU says Russia is illegally protecting its vehicle makers. BRUSSELS, May 21- The European Union took another trade dispute with Russia to the World Trade Organisation on Wednesday, seeking to force Moscow to lift duties against German and Italian light commercial vehicles that Brussels says are illegal.

  • Dash for cash drives Airbus v Boeing jet revamps Wednesday, 21 May 2014 | 8:09 AM ET

    *Airbus also seen looking at A380 engine upgrade for 2020-21. BERLIN, May 21- Drained by their contest to create the carbon-fibre wonder jet, Airbus and Boeing are observing a truce in futuristic new developments while they refill their coffers with makeovers of older but reliably profitable models.

  • May 21- Target Corp reported a 16 percent drop in quarterly profit but showed signs of progress in its efforts to rebuild customer confidence in the wake of a massive theft of payment card data in the United States and a botched expansion into Canada.

  • DETROIT, May 21- General Motors Co:. *Recalls 218,000 Chevrolet Aveo cars from model years 2004-2008 for potential. *Recalls 218,000 Chevrolet Aveo cars in the United States from model years.

  • May 21- Tiffany& Co raised its full-year profit forecast after the company reported stronger-than-expected quarterly results as its increasing focus on lower-priced jewelry attracted customers in the United States, its biggest market. The company raised its earnings forecast for the year ending Jan. 31 to $4.15- $4.25 per share from $4.05- $4.15 per share.


  • *China- Russia gas deal signed during Putin's visit. SHANGHAI, May 21- China and Russia signed a long-awaited, $400- billion gas supply deal on Wednesday, securing the world's top energy user a major new source of cleaner fuel and opening a new market for Moscow as Europeans look elsewhere for their energy.

  • *Italy launched search-and-rescue mission after October shipwreck. *Italy calls for more help from EU. Italy launched the mission last October as an emergency measure to prevent shipwrecks after 366 men, women and children fleeing African countries drowned when their boat capsized a mile from Sicily.

  • *Japan court rejects Kansai Electric safety assurances. All 48 of Japan's nuclear reactors have been idled for safety checks after an earthquake and tsunami triggered triple meltdowns at Tokyo Electric Power Co's Fukushima Daiichi plant, forcing more than 150,000 residents to evacuate.

  • May 21- China's Trina Solar Ltd reported a quarterly profit compared with a loss a year earlier, helped by better prices for its solar panels, and it forecast higher shipments for the current quarter. Rivals Canadian Solar Inc and JA Solar Holdings Co Ltd also posted a first-quarter profit earlier this month, helped by a rise in shipments.

  • *Demand on Europe/ Asia route surprising- CEO. COPENHAGEN, May 21- Profit at A.P. Moller-Maersk's container shipping business, a bellwether for global trade, more than doubled in the first quarter as demand on the world's busiest route between Asia and Europe picked up and it cut costs.

  • LONDON, May 21- European stocks eked out meager gains on Wednesday, while sterling hit a 5 1/ 2- year high on forecast-beating economic data and signs some Bank of England policymakers were leaning towards an interest rate rise.

  • US STOCKS-Futures advance ahead of release of Fed minutes Wednesday, 21 May 2014 | 7:44 AM ET

    *New York Federal Reserve President William Dudley said on Tuesday inflation should "drift upwards" towards the Fed's 2 percent goal, but a swift climb in inflation was unlikely; Philadelphia Fed President Charles Plosser said the $2.5 trillion in reserves accumulated by banks could be the trigger for more rapid inflation.

  • *Commerzbank says incident was an isolated event. FRANKFURT/ LONDON, May 21- Commerzbank AG has fired one trader and suspended a second on suspicions they tried to manipulate the Polish zloty's euro exchange rate, sources familiar with the development said on Wednesday.

  • May 21- Rio Alto Mining Ltd said it would buy Sulliden Gold Corp Ltd in a deal valued at about C $300 million, creating a gold miner focused on Peru, the fifth biggest gold producer in the world. The offer values Sulliden at C $1.12 per share, representing a 43 percent premium to the stock's Tuesday close on the Toronto Stock Exchange.

  • SHANGHAI, May 21- Russian Energy Minister Alexander Novak said on Wednesday China could pay up to $25 billion up front as an option in a newly signed gas deal. Asked whether the Chinese side would pay about $25 billion up front for future gas supplies, Novak told reporters in Shaghai: "Up to $25 billion... The advance is seen as an option, a possibility. "