Latest Business News Wires - Business Headlines


  • BERLIN, June 3- A Reuters report that German Chancellor Angela Merkel has asked France whether it would be willing to put forward IMF chief Christine Lagarde as president of the European Commission is untrue, a German government spokesman said on Tuesday. What the chancellor said publicly yesterday still stands, " Steffen Seibert said.

  • June 3- The city of Chicago has filed a lawsuit against five large narcotics makers alleging they contributed to the country's prescription drug epidemic by deceptively promoting their painkillers.

  • DOHA/ DUBAI, June 3- Qatar sealed its position at the center of a new aviation map this week as host to the annual meeting of the global airline industry's International Air Transport Association, but the Gulf country and its neighbors drew criticism from rivals about trade and investment policies.

  • YOUR MONEY-Who owns your email account? Tuesday, 3 Jun 2014 | 2:39 PM ET

    Pittsburgh, June 3- One morning in April, my Yahoo email account was disabled for no apparent reason. In the seven weeks since my account was shut, I've spent about 12 hours on hold with Yahoo customer service and corresponded with the company at least 15 times.



  • June 3- Discount retailer Dollar General Corp said it expects gross margins to improve in the second half of the year as it focuses on more profitable products such as accessories and stationery items priced at $1- $5. Dollar General shares rose as much as 5 percent on Tuesday.

  • NEW YORK, June 3- Standard& Poor's suffered a defeat Tuesday in litigation accusing it of inflating credit ratings prior to the 2008 financial crisis, as a federal judge ruled that lawsuits by 16 U.S. states and Washington, D.C. belong in state courts, not federal court.

  • *Pemex selling nearly all of Repsol stake. MADRID, June 3- Mexico's national oil company Pemex is selling a 7.86 percent stake in Spanish oil firm Repsol, worth about 2.2 billion euros at current market prices, Citigroup and Deutsche Bank, the banks handling the sale, said on Tuesday.

  • David Miller's tiny $9.5 million Catalyst Insider Long/Short Fund has jumped 26 percent year to date through June 1- a performance better than any of the other 29,618 funds in the Morningstar database- by mimicking the behavior of top executives at companies large and small.

  • BRUSSELS, June 3- European Union antitrust regulators have approved an alliance planned by world No. 1 container shipping company AP Moller-Maersk and another that includes Japan's largest shipper Nippon Yusen Kaisha aimed at tackling excess capacity.

  • WASHINGTON, June 3- The U.S. International Trade Commission said on Tuesday that cheap imports of concrete steel rail tie wire from China and Mexico are hurting local manufacturers, a ruling that will lead to anti-dumping duties on the products.

  • WASHINGTON, June 3- The U.S. Senate cleared a procedural hurdle on Tuesday to confirming New York lawyer Sharon Bowen as a member of the U.S. Commodity Futures Trading Commission. The Senate still must hold a final confirmation vote, which could come as soon as this afternoon.

  • General Motors Co and Chrysler Group said May sales were the best for that month in seven years. Nissan Motor Co set a sales record for May and Hyundai Motor Co had its best month ever. Ford Motor Co and Toyota Motor Corp also topped forecasts.

  • At one extreme, the new rules could boost demand by as much as 10 billion cubic feet per day by 2020, equivalent to a 14 percent increase from today, according to America's Natural Gas Alliance, a Washington- based trade group.

  • *Diplomatic ties strained over Syria, Russia. PARIS/ NEW YORK, June 3- France stepped up its protests to the United States on Tuesday over a possible $10 billion- plus sanctions busting fine for its biggest bank BNP Paribas, saying such a move could hurt transatlantic free-trade talks.

  • WASHINGTON, June 3- New orders for U.S.-made factory goods rose for a third straight month in April and top automakers reported strong vehicle sales in May, boosting the outlook for second-quarter economic growth. Everything looks set for solid growth in the second half of this year, "said Gus Faucher, senior economist at PNC Financial Services Group.

  • NEW YORK, June 3- Ocwen Financial Corp will stop requiring some homeowners to not criticize the company publicly in exchange for having the terms of their loans eased, New York state banking regulator Benjamin Lawsky said on Tuesday.

  • NEW YORK, June 3- U.S. stocks edged lower on Tuesday, with the Dow and the S&P 500 receding from Monday's record closing levels as traders found few reasons to buy following a string of gains, though a rise in semiconductor companies' shares limited losses. Slightly more than 60 percent of stocks traded on both the New York Stock Exchange and the Nasdaq fell on the day.

  • Lloyds Bank withdraws from Rosneft-BP loan - bankers Tuesday, 3 Jun 2014 | 1:13 PM ET

    Lloyds, along with Deutsche Bank, HSBC and Bank of China was a mandated lead arranger on the loan to finance BP's purchase of crude oil and refined products from Rosneft.