Latest Business News Wires - Business Headlines


  • MOSCOW, Aug 13- Russia's richest man Alisher Usmanov cut his stake in his business empire to below 50 percent in a planned move to reward management with shares, not in response to any threat of Western sanctions, his company said.

  • Rigel experimental eye drug fails mid-stage study Wednesday, 13 Aug 2014 | 7:44 AM ET

    Aug 13- Rigel Pharmaceuticals Inc said its experimental drug failed to meet the main goal in a mid-stage study in patients with dry eye disease. The study was testing the drug, R348, against a placebo in the trial.

  • BISSAU, Aug 13- Guinea-Bissau has decided to close its frontier with eastern neighbour Guinea in a bid to prevent the entry of the deadly Ebola virus, Prime Minister Domingos Simoes Pereira said.

  • *Threat of Russia invading Ukraine appears to recede. NEW YORK, Aug 13- U.S. stock index futures rose on Wednesday amid a perceived easing of tensions in both Ukraine and Iraq, which pushed investors to seek bargains.

  • Aug 13- Deere& Co posted lower quarterly profit on Wednesday, but still topped estimates, as strong sales of construction and forestry equipment offset declining sales of tractors, harvesters and other farm machinery.

  • *Apple benefit continues in tandem with diversification drive. TAIPEI, Aug 13- Taiwan's Hon Hai Precision Industry Co Ltd reported a third consecutive quarterly profit gain Wednesday as the world's largest contract maker of electronic goods continued to benefit from demand for products from No.1 client Apple Inc..

  • The disease has killed more than 1,000 people in Guinea, Liberia and Sierra Leone in the world's worst outbreak of Ebola, and the World Health Organization has called it an international emergency.

  • The announcement comes two weeks after fellow food giant General Mills announced a similar policy to set emission cutting targets that respond to the United Nations goal of keeping global temperatures from rising by less than 2 degrees C.

  • *BoE halves 2014 wage growth forecast to 1.25 percent. LONDON, Aug 13- The Bank of England forecast on Wednesday that wages would grow far more slowly than previously expected and linked their rate of increase closely to borrowing costs, suggesting it was in no hurry to raise Britain's record low interest rates.

  • BRUSSELS, Aug 13- EU regulators have begun legal proceedings against 24 member states, including Germany, for failing to enforce a law on energy efficiency, the Commission said on Wednesday.

  • LONDON, Aug 13- Sterling fell on Wednesday after a Bank of England report forecast subdued growth in wages in coming months, leading markets to push back until early next year expectations of when monetary policy will tighten.

  • E.ON and Swiss Life prop up European stock markets Wednesday, 13 Aug 2014 | 6:45 AM ET

    *Nagging worries over Ukraine crisis limit gains. LONDON, Aug 13- European stock markets were steady on Wednesday, supported by gains in utility E.ON and reinsurer Swiss Life shares after forecast-beating results.

  • MUMBAI/ NEW DELHI, Aug 13- India is considering joining Euroclear, the world's largest securities settlement system, with the condition that only long-term foreign investors trade Indian government debt for now, two sources familiar with the discussions told Reuters.

  • UPDATE 2-G4S overhaul begins to pay off as profits rise Wednesday, 13 Aug 2014 | 6:36 AM ET

    *H1 profit rises to 185 mln stg vs 177 mln forecast. LONDON, Aug 13- G4S, the world's biggest security company, posted a better-than-expected 6.3 percent rise in first-half profit as new Chief Executive Ashley Almanza's overhaul began to pay off following a string of high profile fiascos.

  • Month of war leaves Israel with tricky economic outlook Wednesday, 13 Aug 2014 | 6:20 AM ET

    *Conflict with Hamas ruins Gaza economy, costs Israel too. JERUSALEM, Aug 13- Israel's month-long war with Hamas in Gaza has added fuel to a Palestinian boycott movement and may damage investor sentiment towards Israel at the margins, even if the $250 billion hi-tech economy looks set to emerge largely unscathed.

  • BEIJING, Aug 13- The European Union Chamber of Commerce in China on Wednesday expressed concern over a recent series of antitrust investigations, saying China was using strong-arm tactics and appeared to be unfairly targeting foreign firms.

  • ATHENS, Aug 13- Greece's economy shrank in the second quarter at its slowest annual pace since late 2008 when its protracted recession began, data showed on Wednesday, supporting expectations that Athens will emerge from the six-year slump this year.

  • LONDON, Aug 13- Gold was supported above $1,300 an ounce on Wednesday, as investors remained cautious after downbeat data from China and as the crisis in Ukraine threatened a fragile economic recovery in Europe, but a firmer dollar and equities weighed.

  • *Nickel prices could hit $25,000 by mid/late 2015- BNP Paribas. LONDON, Aug 13- Copper fell to a seven-week low on Wednesday, dragged down by disappointing data on top consumer China's property sector which raised concerns about the outlook for the metal used in power and construction.

  • BRUSSELS, Aug 13- Euro zone industrial production contracted unexpectedly for a second month in a row in June, further denting hopes of a stronger recovery as the bloc starts to take the hit from conflict in Iraq, Ukraine and Gaza, data showed on Wednesday.