Latest Business News Wires - Business Headlines


  • March 11- Tesla Motors Inc said New Jersey Governor Chris Christie's administration was pushing forward with a regulation that would hamper sales in the state by forcing the electric-car company to use dealers instead of selling directly to customers.

  • *Fannie Mae, Freddie Mac would be liquidated under plan. WASHINGTON, March 11- The leaders of the Senate Banking Committee on Tuesday announced an agreement on legislation to wind down government-owned mortgage financiers Fannie Mae and Freddie Mac, jump-starting a long-standing debate that could still take years to resolve.

  • WASHINGTON, March 11- The crisis in Ukraine has not jeopardized the longstanding relationship between the U.S. Air Force and the Russian company that builds engines for the rockets used to launch large U.S. government satellites, a U.S. official said on Tuesday.

  • *Cocoa underpinned by expected 2013/ 14 global deficit. NEW YORK/ LONDON, March 11- Arabica futures extended their steep rally on Tuesday, touching a two-year high as parts of top grower Brazil's coffee belt failed to receive enough rain, while robusta rose to a one-year high.

  • WINNIPEG, Manitoba, March 11- Canadian beef and pork exporters say Canada's free trade agreement with South Korea will help them regain market share in the Asian country, which has recently turned to supplies from the United States and other countries that struck deals first.

  • WASHINGTON, March 11- A U.S. House of Representatives committee on Tuesday gave General Motors and the National Highway Traffic Safety Administration until March 25 to provide information related to the automaker's recall of vehicles due to safety concerns.

  • March 11- The U.S. Department of Labor on Tuesday proposed a rule requiring pension plan service providers to offer a guide to help employers navigate disclosures about fees and potential conflicts of interest. However, the Labor Department said it feared that such disclosures were getting lost in lengthy, complex documents.

  • SYDNEY/ LONDON, March 11- China's first domestic bond default has shaken the foundations of the copper market, stoking investor worries that financing deals that have locked up vast quantities of copper could unravel.

  • Wider market sentiment was still undermined by the crisis in Ukraine, where confrontation between Kiev and Moscow showed no sign of easing. The DAX had fallen 2.9 percent in the previous two sessions, dragged down by worries about Ukraine and by disappointing Chinese trade data.

  • KIEV, March 11- Sunday's vote in Ukraine's Crimea is being officially billed as a chance for the peninsula's peoples to decide fairly and freely their future- but in fact there is no room on the ballot paper for voting "Nyet" to control by Russia.

  • WASHINGTON, March 11- Japan's SoftBank Corp CEO, Masayoshi Son, said another meeting is necessary with U.S. regulators who have so far given him a cold shoulder on a potential merger between Son's Sprint Corp and its competitor T-Mobile US Inc..

  • FRANKFURT, March 11- The European Central Bank will press euro zone banks to revalue their assets and take a more realistic view on likely losses when it probes their balance sheets in the coming months, signalling a new, more aggressive era of banking supervision.

  • *J.C. Penney jumps after Citi upgrade. *Copper prices fall to lowest since July 2010. "When you get a slow data week, markets tend to get a little jittery and slow," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

  • *France says sanctions on Russia could come this week. Brent oil futures rose slightly on Tuesday, supported by tensions over Ukraine as the European Union and United States prepared sanctions against Russia that could come soon.

  • *China bonded copper premiums slide $15 to $120- $140- Shmet. LONDON, March 11- Copper tumbled to the lowest levels in over three years on Tuesday as investors and speculators intensified selling because of worries about Chinese demand and liquidation of inventories used for finance deals.

  • *Fidelity publicly criticises Barclays over bonus rise. *Barclays has said it needs to raise bonuses to keep staff in US. LONDON, March 11- Barclays faces a backlash from shareholders over its decision to raise bonuses despite a fall in profits, with investors increasingly demanding CEO Antony Jenkins give more money to them and less to his staff.

  • SYDNEY/ LONDON, March 11- China's first domestic bond defaults have shaken the foundations of the copper market, stoking investor worries that financing deals that have locked up vast quantities of copper could unravel.

  • *Portugal, Ireland outperform other euro zone bonds. *Portugal's GDP grows a revised 0.6 pct in Q4. His comments and the data accelerated a fall in the country's bond yields, which hit 2010 lows recently on increasing optimism Portugal could follow Ireland out of its EU/IMF bailout later this year.

  • In a statement, New York Superintendent of Financial Services Benjamin Lawsky said a formal application process would be a precursor to regulations it intends to propose by the end of the second quarter.

  • Jive has hired Qatalyst Partners, the investment bank led by Silicon Valley dealmaker Frank Quattrone, to find a buyer, the blog Re/Code reported, citing sources. Jive approached Oracle Corp, SAP AG and Workday Inc, but was rebuffed by them, the sources told the blog.