Latest Business News Wires - Business Headlines


  • NEW YORK/ LONDON, April 11- Arabica coffee futures on ICE turned lower for the first time in seven sessions on Friday, on forecasts for rain in top grower Brazil, but remained on track for their strongest weekly performance in seven weeks after surging to two-year highs.


  • BEIJING/ PARIS, April 11- Residents in the Chinese city of Lanzhou rushed to buy bottled drinks on Friday after authorities said benzene, a cancer-inducing chemical, had been found in tapwater at 20 times above national safety levels.

  • WRAPUP 3-U.S. producer inflation accelerates in March Friday, 11 Apr 2014 | 12:27 PM ET

    WASHINGTON, April 11- U.S. producer prices recorded their largest increase in nine months in March, but that jump will probably not ignite inflation pressures as economic growth remains moderate.

  • April 11- JPMorgan Chase& Co executives had an explicit message for shareholders after reporting declining first-quarter earnings: Don't worry, be happy that the bank isn't chasing short-term gains by making irrational lending decisions.

  • KIEV/ MOSCOW, April 11- Russian President Vladimir Putin tried to ease European fears of gas supply cuts on Friday after Brussels said it would stand with the new authorities in Kiev if the Kremlin carries out a threat to turn off the tap to Ukraine.

  • April 11- Mohamed El-Erian, former CEO of Pimco, has been unwilling to respond to criticism from the bond investment firm's chief investment officer Bill Gross because of a strict non-disclosure agreement he made with Pimco, according to two sources familiar with his thinking.

  • ISTANBUL, April 11- Turkish assets fell on Friday after Moody's cut its sovereign rating outlook to negative, citing political turbulence, external financing pressure and weaker growth prospects. Turkey is sensitive to global liquidity conditions as it has relied on cheap foreign capital to finance the gap.

  • *MSCI World index down 0.7 pct, European index down 1.4 pct. *Thursday's sharp sell-off on Wall Street takes global toll.

  • NEW YORK, April 11- U.S. crude oil rose on Friday, lifted by a positive consumer confidence report that indicated strength in the U.S. economy, while Brent was pulled higher by traders covering short positions before the weekend in case ties with Russia worsened.

  • DAKAR, April 11- Entrepreneurs are central to bridging Africa's widening inequality gap but most governments on the continent are not doing enough to help them, the regional head of billionaire Pierre Omidyar's philanthropic arm said.

  • WASHINGTON, April 11- The world's top economies are monitoring the economic situation in Ukraine for any fallout that may pose risks to economic and financial stability, according to a draft communique by the Group of 20 finance ministers and central bankers.

  • Senators urge DOJ to intervene in GM civil suits Friday, 11 Apr 2014 | 11:21 AM ET
    General Motors headquarters in Detroit

    Five Senate Democrats urged the Justice Department to oppose efforts by GM to skirt financial responsibility on its recall.

  • *JPMorgan falls, Wells Fargo gains after results. NEW YORK, April 11- U.S. stocks were little changed on Friday, as biotech stocks staged a rebound from a selloff in the prior session, but disappointing earnings from JPMorgan curbed gains.

  • WASHINGTON, April 11- A group of U.S. senators on Friday urged the Department of Justice to oppose any efforts by General Motors Co to skirt financial responsibility related to the company's failure to promptly recall vehicles with ignition switch problems linked to 13 deaths.

  • Hackers trying to exploit 'Heartbleed', says US Friday, 11 Apr 2014 | 11:08 AM ET

    The US Government warned that hackers are attempting to exploit the 'Heartbleed' bug in targeted attacks.

  • Europe shares sag as U.S. tech sector sell-off spreads Friday, 11 Apr 2014 | 11:00 AM ET

    PARIS, April 11- European stocks sank on Friday, extending the week's retreat and mirroring a sell-off on Wall Street led by technology and biotech shares that has been fuelled by worries some stock valuations are overstretched.

  • April 11- JPMorgan Chase& Co posted far weaker-than-expected quarterly profit as uncertainty about the U.S economy weighed on investor trading volumes and consumer borrowing. JPMorgan's bond trading revenue plunged 21 percent, and mortgage lending revenue fell 84 percent from the same quarter last year.

  • NEW YORK, April 11- U.S. The sell-off in global equities persisted in the wake of disappointing quarterly results from JPMorgan Chase& Co., the biggest U.S. bank. "This equity market meltdown has brought a' fear' bid into bonds," said Larry Milstein, head of government and agency trading at R.W. Pressprich& Co. in New York.

  • More than a dozen companies were lined up to go public this week but four, including Lombard Medical and Stalwart Tankers, failed to price on Thursday. Zoe's Kitchen raised about $87.5 million after its IPO of 5.83 million shares was priced at $15, the upper-end of the expected price range.