Latest Business News Wires - Business Headlines


  • U.S. scrap copper trade fears defaults from China Tuesday, 11 Mar 2014 | 9:30 PM ET

    NEW YORK, March 11- At least one U.S. scrap copper trader has suffered "large" losses after a buyer in China defaulted on a deal in the past week, one of the first signs that sinking prices and tightening credit are taking a toll on the physical market. China is the world's biggest copper consumer. "Copper was Bitcoin for China.

  • KUALA LUMPUR, March 11- Malaysia's air force chief denied a media report that the military last tracked a missing Malaysia Airlines jetliner over the Strait of Malacca, far from where it last made contact with civilian air traffic control when it disappeared four days ago.

  • NYMEX-U.S. crude returns below $100 as stockpiles rise Tuesday, 11 Mar 2014 | 8:56 PM ET

    U.S. crude dropped 64 cents to $99.30 a barrel by 0034 GMT, after settling $1.09 down at $100.03, its lowest since Feb. 11. *Ukraine's government appealed for Western help on Tuesday to stop Moscow annexing Crimea but the Black Sea peninsula, overrun by Russian troops, seemed fixed on a course that could formalise rule from Moscow within days.

  • U.S. military braces for budget battles with Congress Tuesday, 11 Mar 2014 | 8:42 PM ET

    WASHINGTON, March 11- Top U.S. defense officials are bracing for a brutal season of budget negotiations, warning U.S. lawmakers that the U.S. military will gradually become unable to respond to emerging crises if Congress blocks the Pentagon's plans to cut military compensation, close bases and retire entire fleets of aircraft.

  • SINGAPORE, March 12- Gold held on to overnight gains on Wednesday to trade near its highest in four months, as global uncertainty over economic growth and tensions in Ukraine burnished the metal's safe-haven appeal.

  • NEW YORK, March 11- The Pimco Total Return Fund, the world's largest bond fund, slashed its holdings of mortgages in February to the lowest level since at least late 2011 on bets that the Federal Reserve will conclude bond purchases this year, data from the firm's website showed on Tuesday.

  • In a rare act of bipartisan unity, dozens of U.S. senators have wheeled into action against what they call an "absurd" European initiative that would force name changes to common cheese varieties produced in the United States.

  • China concerns take toll on copper, stirs talk of policy easing. turn lower on Wednesday as economic uncertainty in China and. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.5 percent.

  • BRASILIA, March 11- A court has ordered the operators of two new hydroelectric dams in western Brazil to redo their environmental impact studies on the suspicion they have caused extensive flooding in the area.

  • SEATTLE, March 11- Microsoft Corp said on Tuesday it appointed Mason Morfit, president of activist investor ValueAct Capital, as a board member. The world's largest software company offered Morfit a board seat in August, following months of lobbying by ValueAct for a say on how Microsoft is run.

  • WASHINGTON, March 11- Four U.S. oil refiners, trying to counter growing calls to lift the nation's ban on most crude oil exports, have launched the first major lobbying effort to keep abundant U.S. oil supplies from being sold overseas.

  • *Risk appetite curbed by Wall Street's decline, China worries. SYDNEY, March 12- The yen held onto gains early on Wednesday while investors kept their distance from risk currencies such as the Australian dollar amid worries about China's economic health and following a late fall on Wall Street.

  • WASHINGTON, March 11 (Reuters)- The Obama administration said on Tuesday that 4.2 million people have signed up for private health insurance under Obamacare, and indicated that total enrollment could surpass a 6 million-enrollee forecast by the end of March.

  • -Anti-union Volkswagen workers will get a chance to defend the results of a mid-February union election that the United Auto Workers lost at a Chattanooga, Tennessee VW plant, the U.S.

  • WASHINGTON, March 11- The crisis in Ukraine has not jeopardized the longstanding relationship between the U.S. Air Force and the Russian company that builds engines for the rockets used to launch large U.S. government satellites, a U.S. official said on Tuesday.

  • BOSTON, March 11- Billionaire investor William Ackman renewed his attack on Herbalife on Tuesday, saying he has evidence showing the nutrition and weight loss company is breaking direct-selling laws in China, its fastest growing market.

  • Boca Raton, Fla., March 11- The U.S. derivatives regulator is studying whether it should regulate electronic currencies such as bitcoin, its chief said on Tuesday, as regulators across the globe start taking the emerging technology more seriously.

  • March 11- One of the top executives of Twenty-First Century Fox Inc has raised questions about Comcast's potential dominance of the U.S. broadband Internet market if regulators allow its $45.2 billion merger with Time Warner Cable to be completed.

  • NEW YORK/ WASHINGTON/ DETROIT, March 11- Federal prosecutors are examining whether General Motors is criminally liable for failing to properly disclose problems with some of its vehicles that were linked to 13 deaths and led to a recall last month, according to a source familiar with the investigation.

  • WASHINGTON, March 11- The U.S. Air Force is "holding tight" to a target of $550 million for each new long-range bomber in a fleet of up to 100 aircraft, excluding research and development costs, an Air Force official said on Tuesday. The Air Force planned to spend nearly $12 billion on the bomber program over the next five years, said spokesman Ed Gulick.