Latest Business News Wires - Business Headlines


  • NEW YORK, March 19- U.S. stocks fell on Wednesday after the Federal Reserve dropped the U.S. unemployment rate as its definitive yardstick for gauging the economy's strength, and made clear it would rely on a wide range of measures in deciding when to raise interest rates.

  • Chevron seeks $32 million in legal fees in Ecuador case Wednesday, 19 Mar 2014 | 2:10 PM ET

    NEW YORK, March 19- Chevron Corp is seeking $32.3 million in legal fees from Steven Donziger and others who this month who were found by a judge to have used fraud to obtain a multibillion-dollar pollution judgment against Chevron in Ecuador.

  • NEW YORK, March 19- The Federal Reserve on Wednesday dropped the U.S. unemployment rate as its definitive yardstick for gauging the economy's strength, and made clear it would rely on a wide range of measures in deciding when to raise interest rates. Treasuries and mortgage-backed securities to $55 billion from $65 billion.

  • March 19- FedEx Corp's on Wednesday said severe winter conditions had hurt quarterly earnings and revenue, prompting the world's No. 2 package delivery company to cut its fiscal-year profit forecast.

  • NEW YORK/ LONDON, March 19- Arabica coffee futures on ICE tumbled 3 percent on Wednesday, sinking further from last week's two-year high as forecasts for much-needed rain in top grower Brazil attracted investor selling, while raw sugar consolidated higher.

  • Fed officials eyeing steeper rate hike path Wednesday, 19 Mar 2014 | 2:00 PM ET

    WASHINGTON, March 19- The U.S. Federal Reserve expects to push interest rates up a bit more aggressively in 2015 and 2016 than policymakers thought likely just a few months ago. The Fed has held overnight rates near zero since December 2008.

  • TORONTO, March 19- A record-shattering Canadian harvest, combined with one of the most frigid winters in decades, has created a grain-handling backlog that will not be cleared until next year, the head of Canadian National Railway said on Wednesday.

  • *Osborne reveals stronger UK growth forecasts. LONDON, March 19- British finance minister George Osborne courted voters ahead of an election in 2015 with promises of help for savers, tax breaks for manufacturers and lower levies on beer and bingo. Legal& General stock closed more than 8 percent lower.

  • "I just named Joe Oliver Canada's new finance minister," Conservative Prime Minister Stephen Harper wrote on his official Twitter.

  • WASHINGTON/ DETROIT, March 19- Toyota Motor Corp will pay a record $1.2 billion to resolve a criminal probe in to safety issues, in a deal that could serve as a template for how U.S. authorities approach a similar investigation into General Motors Co..

  • OTTAWA/ TORONTO, March 19- Joe Oliver brings a sense of gravitas to his new job as Canada's finance minister, an asset the governing Conservatives will want to emphasize as they prepare to fight an election against young but popular Liberal leader Justin Trudeau.

  • March 19- Wind turbine parts maker AMSC said it would cut 5-10 percent of its workforce by the end of the year and shut its Middleton plant in Wisconsin, moving the operations to its headquarters in Massachusetts. All of AMSC's Middleton employees are expected to be offered the opportunity to relocate to Massachusetts, the company said.

  • US STOCKS-Wall St flat after two-day run; Fed on tap Wednesday, 19 Mar 2014 | 1:36 PM ET

    *KB Home rallies after results, Adobe Systems falls. NEW YORK, March 19- U.S. stocks barely budged on Wednesday as investors paused after a two-day rally and looked ahead to comments from Federal Reserve Chair Janet Yellen.

  • March 19- A Morgan Stanley stockbroker and a clerk at a major New York law firm were charged with insider trading in corporate mergers, in an alleged four-year scheme involving a middleman who would chew up napkins on which he passed illegal tips.

  • BRUSSELS, March 19- The European Union's executive pledged on Wednesday to improve access to clean water across the region, responding to a 1.9- million-strong petition from citizens demanding recognition of their right to water.

  • March 19- Activist investor Carl Icahn on Wednesday called on eBay Inc to sell 20 percent of its PayPal payments unit in an initial public offering. Selling the stake would allow for the benefits of a stand-alone PayPal and maintain the synergies between eBay and PayPal, Icahn wrote in an open letter to fellow eBay shareholders.

  • Cuba set to approve new foreign investment law Wednesday, 19 Mar 2014 | 1:17 PM ET

    HAVANA, March 19- Cuba's National Assembly will meet on March 29 to debate and approve a new foreign investment law that the government hopes will lure overseas capital and increase growth, state-run media outlets reported on Wednesday.

  • World Bank releases $70 mln to help Rwanda combat poverty Wednesday, 19 Mar 2014 | 1:17 PM ET

    KIGALI, March 19- The World Bank signed off on a $70 million financing package for Rwanda on Wednesday, the last tranche of a three-year aid programme, which will be partly used to make poverty-fighting programmes more effective at combating natural disasters.

  • WASHINGTON, March 19- The Boeing 787 Dreamliner, which was grounded for more than three months last year after batteries overheated, is soundly designed and safe to fly, a joint review by the planemaker and the Federal Aviation Administration said on Wednesday.

  • March 19- Darden Restaurants Inc on Wednesday urged shareholders not to support activist investor Starboard Value LP's proposal for a special meeting to vote on the company's plan to divest its Red Lobster chain. Darden on Dec. 19 announced plans to spin off or sell its 705- restaurant Red Lobster chain.