Latest Business News Wires - Business Headlines


  • NEW YORK, May 20- The dollar fell for a fifth straight session against the yen on Tuesday, undermined by a persistent fall in U.S. "The strong correlation between dollar/yen and Treasury yields continue to be the main driver," said Joe Manimbo, senior market analyst, at Western Union Business Solutions in Washington.

  • May 20- New York Times Co Chairman and Publisher Arthur Sulzberger Jr. said he tried to part ways peacefully with the top leader of the newsroom, Jill Abramson, whom he ousted last week.

  • European shares slip, pegged back by Vodafone Tuesday, 20 May 2014 | 10:45 AM ET

    *Credit Suisse up after tax settlement. LONDON, May 20- European shares inched lower on Tuesday, held back by Vodafone after the world's second-largest mobile network operator reported 6.6 billion pounds in impairment costs.

  • NEW YORK, May 20- U.S. stocks dipped on Tuesday, weighed down by retailers after earnings from TJX Companies and Staples. Staples Inc tumbled 10.8 percent to $11.95 after the office supply retailer posted first-quarter earnings and forecast a decline in sales in the current quarter.

  • TOKYO, May 20- Toyota Motor Corp has developed a computer chip for its gas-electric hybrid cars that could boost fuel efficiency by 10 percent and allow the automaker to install the hybrid system on more of its vehicles.

  • MILAN, May 20- Italy's competition watchdog is looking into TripAdvisor to see if the influential holiday review website takes appropriate measures to avoid publishing fake opinions. In a statement on Tuesday, the watchdog said it had received complaints about TripAdvisor from consumers as well as hotel and restaurant owners.

  • GENEVA, May 20- The United Nations is talking to oil-producing African countries about levying 10 cents on every barrel produced to provide funds to help the poorest nations improve public health, a senior U.N. official said on Tuesday.

  • *Libya output at 210,000 bpd; western oilfields shut. *Statoil shuts platform in North Sea after oil leak. LONDON, May 20- Brent oil held steady above $109 a barrel on Tuesday as unrest and low output in OPEC exporter Libya offset downward pressure from expectations of a weekly build in U.S. crude stocks to a record high.

  • May 20- Canada's Valeant Pharmaceuticals International Inc said it will not make an all-cash bid for drugmaker Allergan Inc as many had expected last week when the company said it would improve its cash and stock offer for the Botox maker.

  • LONDON, May 20- Global miners and commodity traders are using multiple strategies to lock in favorable rates for shipping costs, anticipating a freight market recovery after years of turmoil.

  • Drug flops from 2004 haunt AstraZeneca investors Tuesday, 20 May 2014 | 9:37 AM ET

    *AstraZeneca has had more than fair share of flops in past. LONDON, May 20- AstraZeneca's confidence in its promising new drugs may have seen off Pfizer's $118 billion takeover bid for now, but investors are left contemplating the lessons from 2004, when it was also trumpeting its product pipeline.

  • May 20- Medtronic Inc agreed to pay royalties to rival Edwards Lifesciences Corp so it can continue to sell its CoreValve replacement heart valves, the medical device maker said on Tuesday. Medtronic said it would give Edwards a one-time payment of $750 million, plus ongoing royalty payments through April 2022, based on a percentage of CoreValve sales.

  • LONDON, May 20- What's in a name? It's unfortunate, to put it mildly, that London's global benchmarks for precious metals pricing are called "fixes". "Fix" is a word with 25 different meanings, according to the Collins on-line dictionary, including, at number ten, "to influence unfairly."


  • FRANKFURT/ MADRID, May 20- Germany's Commerzbank is finalising the sale of Spanish property loans to U.S. investors for up to 3.9 billion euros, sources said, in what would be one of the biggest deals of its kind since Spain's 2008 real estate crash.

  • TORONTO, May 20- Target Corp replaced the head of its troubled Canadian operations on Tuesday, two weeks after ousting Chief Executive Officer and Chairman Gregg Steinhafel. Target said Schindele had played an integral role in launching several new store formats, including PFresh, CityTarget and Target Express.

  • NEW YORK, May 20- Verizon's CEO Lowell McAdam shot down rumors that the company was in potential merger talks with satellite operator Dish Network on Tuesday, days after rival AT&T announced plans to buy no 1. U.S. satellite operator DirecTV. AT&T's plans to purchase DirecTV raises questions about Dish's next move.

  • LONDON, May 20- AstraZeneca shareholder Schroders urged the company to restart takeover talks with Pfizer, adding its voice to criticism of the British drugmaker's rejection of the U.S. firm's 70 billion pound bid. Schroders is AstraZeneca's twelfth-largest shareholder with a 2 percent stake.

  • *Group is only FTSE 100 company with all-male board. *Female representation on FTSE 100 boards now up to 20 pct. When Chilean mining company Antofagasta appointed Vivianne Blanlot as a director in March, that left Glencore as the only FTSE 100 company without female representation on its board.

  • *AstraZeneca investor protests spurning of Pfizer bid. *Aeroflex jumps, to be acquired by Cobham for $1.46 bln. *Home Depot lost 1.3 percent to $75.52 in premarket trade after the home improvement retailer reported lower-than-expected quarterly sales as its spring selling season got off to a slow start.