Latest Business News Wires - Business Headlines


  • West Africa bets on Brazilian style oil jackpot Friday, 29 Nov 2013 | 7:39 AM ET

    DAKAR/ LUANDA, Nov 29- Investors are stepping up the hunt for hundreds of billions of dollars worth of oil beneath a deep submerged salt crust offshore West Africa, seeking to emulate Brazil's major discoveries across the Atlantic.

  • A deal struck last weekend between Iran and six world powers over Tehran's nuclear programme leaves U.S. and European oil sanctions in place for six months. Iran secured limited relief including an easing of a ban on European ship insurance, which could allow the transport of some oil to its Asian customers.

  • Ukraine holds key to Putin's dream of a new union Friday, 29 Nov 2013 | 7:37 AM ET

    *Ukraine scorns EU but may not join Russia- led bloc. The Russian president sees his " Eurasian Union", in which Ukraine would play a central role, as a future rival to China, the United States and the European Union. Without Ukraine, he will lose all enthusiasm for it, "said Gleb Pavlovsky, a former Kremlin spin doctor who has also worked in Ukraine.

  • *Markets closing at 1 p.m., trading expected to be light. NEW YORK, Nov 29- U.S. stock index futures edged higher on Friday, with investors reluctant to make big bets in an abbreviated session, though major indexes remained on track for their third straight month of strong gains. Markets will close three hours early at 1 p.m., following an all-day closure on Thursday.

  • LONDON, Nov 29- European stocks edged up on Friday, led by French lender Credit Agricole on a bullish UBS note, as traders bet the rally which has propelled a leading index to five-year highs would continue into year end. Credit Agricole advanced 4.1 percent as UBS added the company to its' key call' list, with an increased target price of 10.80 euros.

  • *Spain outlook raised, bailed-out Cyprus upgraded. AMSTERDAM/ MADRID, Nov 29- Standard& Poor's agency cut the Netherlands' credit rating on Friday, reducing the euro zone club of full triple-A nations to just three, while rewarding Spain for efforts to reform its public finances.

  • *Copper stocks continue to decline on the LME and ShFE. LONDON, Nov 29- Copper edged up on Friday supported by a weaker dollar and falls in stockpiles, but stayed on track for its biggest monthly loss since June on expectations of growing supply and tepid demand going forward.

  • *China demand picks up this week, volumes increase. LONDON, Nov 29- Gold edged up on Friday as the dollar fell, but was still headed for its biggest monthly drop in five months on signs that recovery in the U.S. economy could lead to easy central bank money drying up.

  • POLL-U.S. shale to keep lid on oil prices next year Friday, 29 Nov 2013 | 6:00 AM ET

    *Brent prices seen averaging $104.10 a barrel in 2014. The monthly survey of 27 analysts projected Brent crude oil would average $104.10 a barrel in 2014, down from this year's closing average price of $108.50.

  • PREVIEW-Tesco quarterly UK sales to resume decline Friday, 29 Nov 2013 | 5:57 AM ET

    *Analysts forecast Q3 UK underlying sales down 1-2 pct. Tesco, which trails France's Carrefour and U.S. number one Wal-Mart in global sales, has spent more than 1 billion pounds on store revamps, more staff, new product ranges and pricing initiatives in Britain.

  • LONDON, Nov 29- There is widespread agreement on the problem facing Europe's troubled oil refining sector but no consensus about how to solve it.

  • BRUSSELS, Nov 29- The first fall in euro zone unemployment in almost three years coupled with rising prices gave fresh momentum to an economic recovery, but a growing rift between the bloc's haves and have-nots continued to widen.

  • BERLIN, Nov 29- No German politician of the post-war era has had such a meteoric rise, and precipitous fall from grace, as Karl-Theodor zu Guttenberg, the Bavarian baron who fled Berlin for New York in 2011, his career in tatters over accusations of plagiarism.

  • *More than 40 killed in army depot blast in Libya. LONDON, Nov 29- Brent crude firmed slightly on Friday and was set to post the biggest monthly gain since August as prolonged unrest in Libya kept supply disruptions in focus.

  • Jobs and price growth offer hope for euro zone Friday, 29 Nov 2013 | 5:04 AM ET

    BRUSSELS, Nov 29- The first fall in euro zone unemployment in almost four years coupled with rising prices gave fresh momentum to an economic recovery, but a growing rift between the bloc's haves and have-nots continued to widen.

  • LONDON, Nov 29- The euro rose to a five-year peak against the yen and a one-month high against the dollar on Friday before euro zone preliminary inflation data that could give an additional boost. That would ease European Central Bank concerns about deflationary pressures in the bloc.

  • *Gold heads for big monthly fall. The Nikkei in Tokyo notched up its best November since 2005 despite some late profit taking in Asia, as the yen, at a five-year against the euro and a six-month low versus the dollar, boosted hopes for its big exporting firms.

  • LONDON, Nov 29- More than 3,500 bankers in Europe earned 1 million euros or more last year after a big jump across the continent and in Britain, which had 12 times as many high earners as any other country. The latest data from the European Banking Authority shows that 3,529 bankers in the EU earned at least 1 million euros in 2012, up 11 percent in 2011..

  • The world's seventh-largest exporter said after a meeting of top economic officials that it would soon enter negotiations with the United States, Japan, Canada and nine others already in the group.

  • *Move puts Saputo offer on ice for up to two months. SYDNEY, Nov 29- The three-way battle for Australia's oldest dairy firm took a fresh twist on Friday when a regulator temporarily stopped Canadian suitor Saputo Inc from processing acceptances for an offer that has the backing of the target's board.

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