Latest Business News Wires - Business Headlines


  • NEW YORK, Dec 4- Applications for U.S. home loans tumbled in the latest week, led by a sharp slide in refinancing applications, data from an industry group showed on Wednesday.

  • BEIJING, Dec 4- The movements of the eldest son of retired Chinese domestic security chief Zhou Yongkang have been restricted while he helps with a corruption investigation, three sources said, a case that could cause division within the ruling Communist Party.

  • BRUSSELS, Dec 4- EU antitrust regulators fined six financial institutions including Deutsche Bank, Royal Bank of Scotland and Citigroup a record total of 1.71 billion euros on Wednesday for rigging financial benchmarks. The other banks penalised are Societe Generale, JPMorgan and brokerage RP Martin.

  • LONDON, Dec 4- Copper rose on Wednesday as the dollar fell but the price remained under pressure due to slow demand and rising supplies of the industrial metal. Three-month copper on the London Metal Exchange rose 0.1 percent to $6,970 a tonne by 1123 GMT from $6,960 at the close on Tuesday.

  • COLUMN-Coal, the dirty but indispensable fuel: Kemp Wednesday, 4 Dec 2013 | 6:45 AM ET

    LONDON, Dec 4- Supporters of renewables often imply the clean-energy revolution is close to phasing out fossil fuels for electricity generation in the United States, especially polluting coal-fired power plants.

  • HONG KONG, Dec 4- China Rongsheng Heavy Industries Group, the country's largest private shipbuilder, said on Wednesday it expects to report a substantial full-year loss just months after it appealed to the government for financial help.

  • LONDON, Dec 4- Global growth was modest and a tepid expansion in the euro zone masked a growing disparity among its key members last month, data showed on Wednesday.

  • MOSCOW/ KIEV, Dec 4- Russia called on Wednesday for "stability and order" in neighbouring Ukraine as the two countries held their first high-level talks since Kiev pulled out of a trade alliance with the European Union.

  • LONDON, Dec 4- European private equity firm Bridgepoint has agreed to buy pre-university training provider Cambridge Education Group from Palamon Capital Partners in a deal worth 185 million pounds.

  • VIENNA, Dec 4- Libya hopes to reopen all its oil ports on Dec. 10 and resume full production about a week later after the Libyan army threatened to use force against armed protesters.

  • LONDON, Dec 4- Ukraine's debt yields traded around record highs on Wednesday as ministers in Kiev successfully passed protester blockades to reach a cabinet meeting, while broader emerging stocks hit three-week lows on worries about a withdrawal of U.S. stimulus.

  • *UK growth forecasts set to be lifted on Thursday. LONDON, Dec 4 (Reuters- Growth in Britain's service sector slowed a little last month, a survey showed on Wednesday, breaking a run of positive data surprises but still providing a strong backdrop for the government's budget update later this week.

  • *Keystone XL pipeline may relieve Cushing supply bottleneck. LONDON, Dec 4- Brent crude oil slipped towards $112 a barrel on Wednesday, while the U.S. benchmark rose more than $1 to a five-week high after news of the scheduled start of a key pipeline expected to relieve a glut at the country's main oil storage hub.

  • Dec 2- Cognizant Technology Solutions Corp will hire at least 10,000 people in the United States over the next three years, the IT services firm's president, Gordon Coburn, said.

  • SINGAPORE, Dec 4- The Hong Kong bourse plans to build up its commodity business by co-listing global benchmarks in metals and other products and matching them with key contracts traded on China's exchanges, its CEO said.

  • *First-quarter revenue $2.02 bln vs estimate of $2.01 bln. May 8- Cognizant Technology Solutions Corp forecast current-quarter revenue above market expectations after an 18 percent rise in the first quarter, helped by strong demand from Europe. First-quarter sales from Europe rose 23 percent, outpacing a 16 percent growth in North America.

  • TOKYO, Dec 4- The head of Japan's Government Pension Investment Fund, the world's largest, said on Wednesday that the $1.2 trillion fund holds too much in domestic bonds but can lower the weighting by letting bonds mature, without selling from its holdings.

  • Greek ship owner Dryships Inc has already questioned whether some of the ships on order at China Rongsheng will be delivered, which could hit its revenue and profitability next year. Dryships has four dry bulk carriers on order at the company's shipbuilding subsidiary, Jiangsu Rongsheng Heavy Industries, that are due for delivery in 2014..

  • Hits - and a miss - from Peugeot-Citroen Wednesday, 4 Dec 2013 | 5:18 AM ET

    PARIS, Dec 4- As it struggles to rein in losses, PSA Peugeot Citroën is cutting back sharply on investment. Research and development is due to fall to well below 3 billion euros in 2013- less than one-fifth of rival Volkswagen's budget.

  • INSIGHT-France vs US in a tale of two layoffs Wednesday, 4 Dec 2013 | 5:18 AM ET

    PARIS/ DETROIT, Dec 4- Five years after Jeffrey Hand took a $100,000 buyout to leave Ford Motors, the U.S. auto industry has surged back to profit and is once again hiring. Hand, who has spent the years living on his payout, has now applied to work at an auto parts supplier a few hours away from his old factory near Dearborn, Michigan.

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