Latest Business News Wires - Business Headlines



  • *Oil majors pull foreign staff from Iraq. NEW YORK, June 18- Brent crude rose to a nine-month high on Wednesday as investors worried about exports from Iraq, while U.S. crude dipped after government numbers showed domestic crude inventories fell much less than an industry group had reported.

  • NEW YORK, June 18- U.S. stocks rose on Wednesday, with the S&P 500 ending at a record after the Federal Reserve hinted at a slightly faster pace of interest-rate increases starting next year, but suggested rates in the long run would be lower than it had indicated previously.

  • WASHINGTON, June 18- The U.S. Senate Energy Committee voted on Wednesday to advance the nominations of Norman Bay to be a commissioner of the Federal Energy Regulatory Commission and Cheryl LaFleur for a second term as commissioner at the utility agency.

  • WASHINGTON, June 18- Two U.S. senators on Wednesday said they want to raise the federal gasoline and diesel tax by 12 cents a gallon to prevent a fund that pays for about half of the country's transportation projects from running out of money in August.

  • June 18 (Reuters)- Valeant Pharmaceuticals Inc said on Wednesday it began an exchange offer for Botox maker Allergan Inc, taking its hostile $50.8 billion bid directly to shareholders.

  • Cigarette makers lose challenge to new NYC pricing law Wednesday, 18 Jun 2014 | 3:58 PM ET

    Industry trade groups, as well as cigarette makers, including Philip Morris parent Altria Group Inc, Reynolds American Inc and Lorillard Inc, complained that the limits violated their free speech rights and were pre-empted by other federal and state laws. A lawyer for most of the plaintiffs referred a reporter to Altria, which did not have an immediate comment.

  • FOREX-Dollar slips as Fed cuts U.S. growth forecast Wednesday, 18 Jun 2014 | 3:42 PM ET

    NEW YORK, June 18- The dollar retreated against the euro and the yen on Wednesday as the Federal Reserve struck a dovish tone in its post-meeting statement, slashing its forecast for economic growth and suggesting long-term rates could be lower than previously indicated. said Mark McCormick, currency strategist at Credit Agricole in New York. "

  • SEATTLE, June 18- Amazon.com Inc Chief Executive Officer Jeff Bezos unveiled a "Fire" smartphone on Wednesday equipped with a 3 D-capable screen and the ability to recognize objects, music and TV shows, hoping to stand out in a crowded field dominated by Apple Inc and Samsung Electronics.

  • *Amazon CEO Bezos unveils "Fire" smartphone; stock climbs. *FedEx shares hit all-time high after quarterly profit.

  • WASHINGTON, June 18- House of Representatives Republican lawmakers pressured candidates for party leadership jobs on Wednesday to put a higher priority on conservative principles in setting the legislative agenda for the chamber.

  • *Fed reduces monthly bond buying by further $10 billion. WASHINGTON, June 18- The U.S. As widely expected, the central bank pushed ahead with plans to wind down one of its main stimulus program, reducing its monthly asset purchases from $45 billion to $35 billion.

  • "We all feel strongly that something should be done and we should get on with this," said William Ruckelshaus, the first EPA chief, who served under EPA founder, President Richard Nixon, and again under Ronald Reagan.

  • DETROIT/ WASHINGTON, June 18- Problems with vehicle ignition switches have drawn U.S. safety regulators to investigate a second Detroit automaker, Chrysler Group, even as General Motors Co Chief Executive Mary Barra was providing U.S. lawmakers on Wednesday with more details on GM's ongoing switch issues.

  • TREASURIES-Prices gain as Fed more dovish than expected Wednesday, 18 Jun 2014 | 3:06 PM ET

    *Fed to buy $2.25 bln- $2.75 bln notes 2021-2024 Thursday. NEW YORK, June 18- U.S. "There were a lot of people that thought there would be a lot more mention of inflation there, that there would have been a more hawkish tone, but on balance it came out fairly dovish," said Aaron Kohli, an interest rate strategist at BNP Paribas in New York.

  • US STOCKS-Wall St rises slightly after Fed statement Wednesday, 18 Jun 2014 | 3:01 PM ET

    *Amazon CEO Bezos unveils "Fire" smartphone; stock climbs. *FedEx shares hit all-time high after quarterly profit.

  • NEW YORK, June 18- Argentine officials will begin to negotiate for the first time next week with hedge funds that refused to take part in its debt restructuring, a lawyer for the country said in Manhattan federal court on Wednesday.

  • PRECIOUS-Gold edges up after Fed statement Wednesday, 18 Jun 2014 | 2:57 PM ET

    NEW YORK/ LONDON, June 18- Gold edged up on Wednesday after the Federal Reserve hinted at a slightly faster pace of interest rate increases next year but slashed its forecast for U.S. economic growth this year, lifting bullion's safe-haven appeal.

  • Futures support view of mid-2015 U.S. rate hike Wednesday, 18 Jun 2014 | 2:49 PM ET

    NEW YORK, June 18- Some U.S. short-term interest rates futures slipped on Wednesday as the latest forecasts among Federal Reserve policymakers strengthened the view the central bank may increase rates in mid-2015.