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Latest Business News Wires - Business Headlines

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  • NEW YORK, Jan 21- U.S. Treasuries fell in midday New York trade on Wednesday, pulling the yield up from near record lows, in reaction to reports the European Central Bank has proposed 50 billion euros worth of monthly bond purchases. "The market seems to be taking that as a positive risk-on event and so we are seeing equities higher, commodities higher, yields higher,"...

  • NEW YORK, Jan 21- A former executive at a New York investor relations firm, whose shoeless sprint from news photographers last year ended up on Comedy Central's "The Daily Show," was sentenced on Wednesday to 2-1/ 2 years in prison for insider trading. Michael Lucarelli, the former director of market intelligence at Lippert/Heilshorn& Associates, was also ordered by...

  • DAVOS, Switzerland, Jan 21- Ukraine has requested a longer term funding programme from the International Monetary Fund and also plans to talk with holders of its sovereign debt with a view to improving debt sustainability, Finance Minister Natalie Jaresko said. "In view of our overall economic and financial situation, Ukraine is requesting an Extended Fund...

  • DAVOS, Switzerland, Jan 21- Ukrainian President Petro Poroshenko accused Russia on Wednesday of sending 9,000 troops to back separatist rebels in the east of his country, and the IMF chief said she backed extra financial help for Kiev as the conflict inflicts severe economic damage. However, he won support from NATO, which said the amount of heavy military...

  • CALGARY, Alberta, Jan 21- Western Canadian crude production will ramp up in 2015 despite plunging oil prices, the Canadian Association of Petroleum Producers said on Wednesday, although the industry body trimmed its forecast by 65,000 barrels per day to 3.6 million bpd. Despite the slight slowdown, crude output from Western Canada, which includes northern...

  • Jan 21- TD Ameritrade Holding Corp's quarterly profit rose 9.9 percent from a year earlier on strong trading by clients and fees from new money they deposited into their brokerage accounts. Low interest rates are pressuring money that TD Ameritrade and other discount brokers reap by investing cash held in client accounts. TD Ameritrade's net interest margin,...

  • Tootsie Roll says 95-year-old CEO Melvin Gordon dies Wednesday, 21 Jan 2015 | 1:15 PM ET

    Jan 21- Candy maker Tootsie Roll Industries Inc said Chief Executive Melvin Gordon died at the age of 95 after brief illness, sparking speculation the company could be acquired. Tootsie Roll's shares rose as much as 8 percent to $33.28. The board named Gordon's wife Ellen Gordon, who is the company's chief operating officer, as CEO.

  • Jan 21- JPMorgan Chase& Co got a painful reminder on Wednesday that we all have to live with our mistakes, even a clerical mix-up that could cost $1.5 billion. A federal appeals court in Manhattan ruled on Wednesday that, although it was not JPMorgan's intention, it clearly authorized its law firm to file papers in 2008 that unsecured much of a loan to General Motors.

  • SEATTLE, Jan 21- Microsoft Corp will give away its upcoming Windows 10 operating system as a free upgrade to users of the most recent versions of Windows and Windows Phone, as the world's largest software company tries to hold onto customers in the new mobile era that has largely bypassed it. The announcement by Terry Myerson, who runs Microsoft's operating...

  • OPEC's secretary-general and the International Energy Agency's chief economist both said they expected prices, currently near their lowest since 2009, to rebound later this year. The cut is "headline-grabbing," analyst Matt Smith of Schneider Electric said, but it will be months before an actual reduction will manifest. Turmoil in Yemen further added to the...

  • *Sydney, London, Frankfurt among global yuan trading centers. ZURICH, Jan 21- Switzerland's central bank said on Wednesday it has agreed with the People's Bank of China to establish clearing arrangements in Switzerland for renminbi trading and extend a pilot scheme for clients of Swiss banks. China's central bank has already chosen Sydney, Seoul, Paris,...

  • FDA approves Novartis's psoriasis drug Wednesday, 21 Jan 2015 | 12:49 PM ET

    Jan 21- The U.S. Food and Drug Administration said it approved Novartis AG's drug to treat adults with moderate to severe plaque psoriasis.

  • UPDATE 2-ECB set to decide on money printing plan Wednesday, 21 Jan 2015 | 12:44 PM ET

    *ECB Governing Council meets to discuss QE on Thursday. FRANKFURT, Jan 21- The European Central Bank's Executive Board has proposed a programme that would enable the ECB to buy 50 billion euros in bonds per month starting in March, a euro zone source said on Wednesday. These details will describe how far the ECB goes in meeting demands from Germany's Bundesbank for...

  • European shares rise for 5th day on ECB stimulus bets Wednesday, 21 Jan 2015 | 12:42 PM ET

    LONDON/ PARIS, Jan 21- European shares rose for a fifth straight day to close at a seven-year high on Wednesday as speculation mounted about the size and timing of a sovereign bond-buying programme expected to be unveiled by the European Central Bank. A euro zone source told Reuters on Wednesday the ECB's Executive Board has proposed that the bank buy 50 billion...

  • ZURICH, Jan 21- Swiss chocolate maker Barry Callebaut warned on Wednesday the strong Swiss franc could hit its results, after sales revenue rose 15.1 percent in the quarter to November helped by higher cocoa bean prices. Barry Callebaut said it conducted 99 percent of its business outside of Switzerland so had limited operational exposure to the surging franc,...

  • LONDON, Jan 21- Britain's vast foreign exchange markets need more regulation in the wake of a currency rate-fixing scandal that landed global banks with heavy fines last year, a lawyer who investigated the case said on Wednesday. Anthony Grabiner, speaking to British lawmakers, said care should be taken not to undermine the effectiveness of London as a centre...

  • SEATTLE, Jan 21- Microsoft Corp said on Wednesday the upcoming Windows 10 operating system will be offered as a free upgrade to users of the most recent versions of Windows and Windows Phone software. The announcement by Terry Myerson, who runs Microsoft's operating systems group, is a marked change for the company, which has charged for new versions of Windows,...

  • DAVOS, Switzerland, Jan 21- Takeda Pharmaceutical, Japan's largest drugmaker, is ready to look at doing deals now that it has refocused operations, its incoming chief executive said on Wednesday. "We don't want to be passive and we don't want to watch the train passing," he told Reuters on the fringes of the World Economic Forum in Davos. As COO, Weber has overseen a...

  • US STOCKS-Wall St rises on report of ECB action; IBM falls Wednesday, 21 Jan 2015 | 12:25 PM ET

    *IBM shares fall after results, Netflix rallies. NEW YORK, Jan 21- U.S. stocks rose in a volatile session on Wednesday on reports that new stimulative measures would be announced by the European Central Bank at its meeting tomorrow, though a tepid outlook from IBM limited the Dow's gains. "The timing and duration of bond purchases is just as important as the actual...

  • But with doubts about whether Greece will stick to its EU, ECB and IMF-prescribed austerity policies after a cliff-hanger election on Sunday, some at the central bank would prefer not to include Greek bonds. For the top rating agencies, Standard and Poor's, Moody's, Fitch and DBRS, all of which upgraded Greece last year, any exclusion from ECB buying would pose a...