Latest Business News Wires - Business Headlines


  • China considering replacing central bank head - WSJ Wednesday, 24 Sep 2014 | 11:18 AM ET

    Sept 24- Chinese central bank Governor Zhou Xiaochuan may lose his job, the Wall Street Journal reported, in a reshuffle that follows internal battles over economic reforms. The top contender to head the People's Bank of China is Guo Shuqing, a former banker and securities regulator who is currently governor of eastern Shandong province, the paper said.

  • Sept 24- Shares of Citizens Financial Group Inc, the U.S. unit of Royal Bank of Scotland Group Plc, rose as much as 3.5 percent in their market debut, valuing the lender at about $12.5 billion in the biggest U.S. bank IPO since the financial crisis.

  • *Glencore, Trafigura, Mitsui show interest in copper project. MOSCOW, Sept 24- Russia's Norilsk Nickel, the world's largest nickel and palladium producer, is in talks to buy palladium worth up to $2 billion from the country's central bank, Norilsk's chief executive and co-owner Vladimir Potanin said.

  • Yale endowment posts 20 pct return, besting rival Harvard Wednesday, 24 Sep 2014 | 11:06 AM ET

    BOSTON, Sept 24- Yale University's endowment posted a 20.2 percent return in the 2014 fiscal year, the school said on Wednesday, besting Ivy League rivals such as Harvard and Dartmouth. Harvard University's endowment, the largest school endowment in the world at over $34 billion, announced on Tuesday an investment return of 15.4 percent.

  • Q+A-Tax Inversions 101: A pocket guide Wednesday, 24 Sep 2014 | 11:04 AM ET

    NEW YORK, Sept 23- The Treasury department this week announced a new set of regulations to crack down on the wave of "corporate inversions," in which American companies lower their tax bill by, simply put, relocating their legal corporate addresses overseas.

  • LONDON, Sept 24- Gold edged lower on Wednesday as the dollar climbed to levels not seen in four years and global shares rebounded, while investors remained cautious ahead of U.S. economic data due later in the week. Spot gold, stronger initially, fell to a session low of $1,216.55 an ounce before trading down 0.2 percent at $1,220.25 an ounce by 1451 GMT.

  • The company raised about $161.4 million after its offering was priced at $12 per share, the low end of its expected price range of $12- $14. Smart and Final, backed by private equity firm Ares Management LP, is selling all the 13.45 million shares in the offering. Ares Management bought Smart and Final from Apollo Global Management LLC in 2012 for $975 million.

  • LONDON, Sept 24- Oil fell below $96 a barrel on Wednesday to its lowest level in over two years as rising supply from Africa and Iraq offset mounting tensions in the Middle East and stronger-than-expected growth expectations in China.

  • Yemen president warns of civil war as factions collide Wednesday, 24 Sep 2014 | 10:40 AM ET

    SANAA, Sept 24- President Abd-Rabbu Mansour Hadi has warned Yemenis their country is heading towards civil war after the takeover of the capital by Shi'ite Muslim rebels, a move that has allowed the insurgents to dictate terms to a weakened, fractured government.

  • Milan outperforms sluggish European equity markets Wednesday, 24 Sep 2014 | 10:37 AM ET

    LONDON, Sept 24- The Milan stock exchange rose to outperform sluggish European equity markets on Wednesday after data showed that Italian consumer confidence had risen for the first time in four months.

  • *For other news from Reuters Russia Investment Summit, click on http://www.reuters.com/summit/Russia14. MOSCOW, Sept 23- Russia's central bank can achieve low inflation despite economic shocks from the Ukraine crisis, the bank's Deputy Governor Ksenia Yudayeva told Reuters on Wednesday.


  • WASHINGTON, Sept 24- Sales of new U.S. single-family homes surged in August and hit their highest level in more than six years, offering confirmation that the housing recovery remains on course. The Commerce Department said on Wednesday sales jumped 18.0 percent to a seasonally adjusted annual rate of 504,000 units.

  • NEW YORK, Sept 24- U.S. "We're still in limbo, in flux, with respect to monetary policy specifics," said Boris Rjavinski, an interest rate strategist at UBS in New York. He said comments this week from regional Fed presidents such as William Dudley and Narayana Kocherlakota raised more questions about the Fed's outlook.

  • RBS's Citizens Financial makes a tepid market debut Wednesday, 24 Sep 2014 | 10:20 AM ET

    Sept 24- Shares of Citizens Financial Group Inc, the U.S. unit of Royal Bank of Scotland Group Plc, rose less than 1 percent in their debut, valuing the company at about $12 billion in the biggest U.S. offering by a bank since the financial crisis.

  • Gilead's HIV drug shows potential in two mid-stage studies Wednesday, 24 Sep 2014 | 10:20 AM ET

    Sept 24- Gilead Sciences Inc said its HIV tablet containing tenofovir alafenamide was found better than its approved drug, Stribild, in two mid-stage studies. The company's shares rose 1.3 percent to $106.77 in early trading on the Nasdaq on Wednesday.

  • US STOCKS-Housing stocks trim losses after home sales data Wednesday, 24 Sep 2014 | 10:19 AM ET

    The PHLX Housing index was down 0.1 percent after earlier falling as much as 1.3 percent on the back of results at KB Home. KB Home fell 6.1 percent to $15.92 following third-quarter earnings and sales that missed expectations. D.R. Horton Inc fell 0.4 percent to $21.20 while Beazer Homes was off 0.7 percent at $17.80.

  • CORRECTED-Actavis in buyout talks with Salix - CNBC Wednesday, 24 Sep 2014 | 10:16 AM ET

    Allergan Inc has also been in talks with Salix as it tries to fend off an unwanted bid from Valeant Pharmaceuticals Inc.. Allergan has questioned the sustainability of Valeant's growth and business model and "opaque" financial disclosures.

  • BUCHAREST, Sept 24- Romania's stock exchange has cut trading fees and started easing tight regulations that had stifled foreign investors' access to the market, but more is needed for the country to gain emerging market status, its chief executive said on Wednesday.