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Latest Business News Wires - Business Headlines

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  • *Bond yields shrink, World Bank cuts global growth forecasts. Not helping the mood was news the World Bank had lowered its global growth forecasts because of sluggishness in the euro zone, Japan and some major emerging economies. "The global economy is at a disconcerting juncture," World Bank chief economist Kaushik Basu told reporters.

  • Jan 13- GameStop Corp, the world's largest retailer of video game products, said December same-store store sales rose 4.4 percent, driven by higher demand for games such as Call of Duty: Advanced Warfare, Grand Theft Auto V and Far Cry 4.. GameStop said it now estimated same-store sales to fall 1-2.5 percent in the fourth quarter ending January.

  • *European Court of Justice on ECB's bond-buying program next. SYDNEY, Jan 14- The dollar neared one-month lows against the yen early on Wednesday as U.S. yields continued to shrink, but it scaled a nine-year peak on the euro as bolder stimulus from the European Central Bank seemed imminent. The benchmark U.S. 10- year yield hit 20- month lows of 1.864 percent as...

  • Investors are watching closely to see how insurers decide to cover these drugs, which cost tens of thousands of dollars per treatment, after AbbVie Inc started a competitor to Gilead Sciences' breakthrough hepatitis C treatment. Express Scripts, the largest pharmacy benefit manager in the United States, dropped Gilead Sciences hepatitis C drugs from its main...

  • WASHINGTON, Jan 13- Lawmakers in the U.S. House of Representatives voted on Tuesday to approve legislation that creates new hurdles for agencies writing federal regulations, a plan the White House opposes. President Barack Obama has threatened to veto the bill if it passes the U.S. Senate. In a statement on Monday, the White House said the law would "impose...

  • CALGARY, Alberta, Jan 13- Canada's largest oil and gas company Suncor Energy Inc said on Tuesday it would cut about 1,000 employees and contractors, freeze hiring and slash C $1 billion in capital spending in response to falling crude oil prices. Suncor said it would also defer some capital projects that have not yet been sanctioned, such as MacKay River 2 in...

  • CHICAGO, Jan 13- CSX Corp, the third-largest U.S. railroad, on Tuesday reported a higher quarterly profit that was in line with analyst expectations and said it expected a strong increase in its freight business and double-digit earnings growth during 2015.. Jacksonville, Florida- based CSX reported a net profit of $491 million, up 15 percent from $426 million a...

  • DETROIT, Jan 13- Tesla Motors Inc Chief Executive Elon Musk said on Tuesday that the electric luxury car maker's sales in China were "unexpectedly weak" during the fourth quarter, but sought to assure an audience in Detroit the problems are being fixed. Tesla shares fell 7 percent in after-hours trade to $190.50 from a close of $204.25 on the Nasdaq.

  • LOS ANGELES/ SAN FRANCISCO, Jan 13- Woody Allen will make his first foray onto the small screen, writing and directing an online series for Amazon.com, the latest coup by deep-pocketed cable and streaming companies in luring the biggest names in film to television. Filmmakers such as Martin Scorsese, Steven Soderbergh, David Fincher and Guillermo del Toro have...

  • Jan 13- Oil and gas producer Newfield Exploration Co said it would retain its assets in China, saying a slump in oil prices had created "headwinds" in the sale process. "The recent and significant pull back in global oil prices created headwinds for our China sales process... Hong Kong- listed oil trader and shipping firm Brightoil Petroleum Holdings had held talks...

  • ECB bond-buying gets legal test at European court Tuesday, 13 Jan 2015 | 6:00 PM ET

    LUXEMBOURG, Jan 14- An adviser to Europe's top court will deliver an opinion on Wednesday that could either ease or complicate European Central Bank plans for printing money to boost the struggling euro zone economy. The adviser's opinion-- which recommends what the court should do-- marks the latest chapter in a long-running dispute between the ECB and Germany...

  • SEATTLE, Jan 13- Boeing Co said on Tuesday that it sees no business case for offering an extended-range version of its largest 737 jet, the forthcoming 737 MAX 9, to compete with a long-range plane that rival Airbus launched on Tuesday. Boeing said both its existing 737-900 jet and the MAX 9 exceed the A321's range so the long-range Airbus plane will simply catch up...

  • WASHINGTON, Jan 13- The top U.S. trade official, Michael Froman, told lawmakers a major trade pact with Pacific Rim trading partners is "on a two-month trajectory," the No. 2 Republican in the U.S. Senate said on Tuesday, although the trade office said there was no set timeline for the deal. Negotiators hope to wind up talks this year on the Trans-Pacific Partnership,...

  • Tesla shares slump 7 pct on weak China sales Tuesday, 13 Jan 2015 | 5:49 PM ET

    Jan 13- Tesla Motors Inc shares slumped late on Tuesday after Chief Executive Elon Musk said the electric luxury car maker's sales in China were "unexpectedly weak" during the fourth quarter. But he assured an audience in Detroit the problems are being fixed. Tesla shares fell 7 percent in after-hours trade to $190.50 from a close of $204.25.

  • KHOBAR, Saudi Arabia, Jan 13- Saudi Oil Minister Ali al-Naimi met U.S. Saudi Arabia, OPEC's dominant member state and the world's biggest oil exporter, has repeatedly said the group will not cut production. On Tuesday, United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui stood by OPEC's decision to keep production unchanged.

  • UPDATE 1-CP Rail workers set Feb. 15 strike deadline Tuesday, 13 Jan 2015 | 5:33 PM ET

    TORONTO, Jan 13- About 1,650 Canadian Pacific Railway Ltd workers represented by the Unifor union have set a Feb. 15 strike deadline to back contract demands, Unifor said on Tuesday. Bargaining, which started in September, is set to resume in Calgary this week after a holiday break. Unifor is Canada's biggest private sector union.

  • SEATTLE, Jan 13- Boeing Co said on Tuesday it picked the chief of its fastest-running assembly line to head the South Carolina factory where it makes the 787 Dreamliner. Beverly Wyse, who streamlined the 737 factory in Renton, Washington, as Boeing increased output to 42 airliners a month, will become vice president and general manager of the second Dreamliner...

  • WASHINGTON, Jan 13- The Obama administration will unveil plans this week to regulate methane emissions from oil and natural gas production, the New York Times reported on Tuesday. The Environmental Protection Agency will issue proposed rules to target methane emissions, a potent greenhouse gas, the newspaper reported, citing a person familiar with the...

  • Jan 13- Former Xstrata Plc Chief Executive Mick Davis is considering a bid for Vale SA's nickel business, the Bloomberg reported. Davis's investment vehicle X2 Resources values Vale's nickel business at $5 billion to $7 billion, Bloomberg said, citing two people, who asked not to be identified because the negotiations are private. X2 has raised about $4.8...

  • WASHINGTON/ NEW YORK, Jan 13- Standard and Poor's is expected to pay just over $1 billion to settle lawsuits from the U.S. government and several states that had accused the McGraw Hill Financial Inc unit of inflating credit ratings on toxic assets before the 2008 financial crisis, according to a person familiar with the matter. The Justice Department case, filed...