Latest Business News Wires - Business Headlines


  • Twitter takes aim at 'retail politics' in Latin America Wednesday, 14 May 2014 | 1:58 PM ET

    SAO PAULO, May 14- After seeing explosive growth across Latin America, Twitter Inc is now tapping into the region's other big passion besides soccer- politics. "The Latin American market is growing, and elections are good opportunities for Twitter," Adam Sharp said in an interview.

  • May 14- Twitter Inc and Facebook Inc will need to be more diversified to win the attention of one of the youngest, yet conservative, fund managers at Aberdeen Asset Management. Facebook is trading at 37.9 times its forward earnings and LinkedIn Corp at 71.1 times.

  • *U.S. crude stocks fall in Cushing but rise overall. NEW YORK, May 14- Brent futures rose $1 a barrel on Wednesday while U.S. crude rose 75 cents with both on track to settle near three-week highs supported by a draw on stocks in the United States and the deteriorating situation in Ukraine.

  • DOHA, May 14- Qatar unveiled plans for labor reforms on Wednesday after persistent criticism from rights group over its treatment of workers, but it set no timetable and the changes would still leave employees without a minimum wage or trade unions. Qatar has the highest proportion of migrant workers per population in the world.

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Hopes faded of finding more survivors in a coal mine in western Turkey on Wednesday, where 245 workers were confirmed killed and around 120 still feared to be trapped in what is likely to prove the nation's worst ever industrial disaster.

  • CALGARY, Alberta, May 14- Alberta, the Canadian province with the world's third-largest crude reserve in its oil sands, said Wednesday it will not participate in a global oil conference in Moscow next month as a protest against Russia's actions in Ukraine.

  • BERLIN, May 14- The Bundesbank is ready to back ECB policy action if needed but not every measure under discussion is suitable and large-scale asset purchases may well not be, the president of the German central bank said on Wednesday.

  • PARIS, May 14- BNP Paribas, France's biggest bank, said on Wednesday there was a risk that a possible fine for violating U.S. sanctions on countries like Iran could be significantly higher than the $1.1 billion euros it has provisioned for.

  • NEW YORK, May 14- Benchmark government bond yields in the U.S. and Germany dropped on Wednesday after sources told Reuters a European Central Bank rate cut next month is "more or less a done deal," while U.S. stocks retreated slightly from recent record highs. UK yields also fell after the Bank of England said it was in no hurry to raise rates.

  • May 14- Fuel-cell maker Plug Power Inc warned it no longer expects to turn profitable this year, after reporting a bigger-than-expected first-quarter loss due to a fall in orders. Plug Power, which makes hydrogen fuel cells to power forklifts, told Reuters in March that it expects to report a profit on an EBITDA basis for the first time in 2014..

  • Since Indonesia banned the export of unprocessed nickel ores in January, prices of ore and of refined nickel have soared. In China, traders have held on to their stocks, while producers there and in Japan scramble for supplies.

  • DETROIT, May 14- General Motors Co conducted an additional 16 tests on cars with the defective ignition switch linked to at least 13 deaths to further support its position that the vehicles are safe to drive with only the key in the ignition, according to a document posted online by U.S. safety regulators.

  • WASHINGTON, May 14- A U.S. appeals court on Wednesday affirmed a decision by the International Trade Commission that Apple Inc was innocent of violating three patents owned by Samsung Electronics to make its iPhones and iPads. The ITC had said in June 2013 that Apple did not infringe on the Samsung patents.

  • UPDATE 3-Allianz calls on Pimco to reverse investor flight Wednesday, 14 May 2014 | 12:18 PM ET

    FRANKFURT, May 14- German insurer Allianz has called on its California- based asset manager Pimco to prove itself after investors withdrew a further 22 billion euros in the first quarter, denting group earnings.

  • *Producer prices up 0.6 percent, largest rise in 1-1/ 2 years. WASHINGTON, May 14- U.S. producer prices recorded their largest increase in 1-1/ 2 years in April as food prices surged, in a potential sign inflation pressures may be creeping up. The Labor Department said on Wednesday its producer price index rose 0.6 percent, the biggest gain since September 2012.

  • *IBM CFO EXPECTS HARDWARE PROFITS TO GROW IN 2015 Wednesday, 14 May 2014 | 11:56 AM ET
  • *Sears Holdings says it may put Sears Canada up for sale. May 14- Sears Holdings Corp said on Wednesday that it was considering the sale of its 51 percent stake in Sears Canada Inc, a move that could mean all of the Canadian department store operator goes up for sale.

  • MARIKANA, South Africa, May 14- South Africa's police minister vowed to crack down on violence against platinum miners who were trying to return to work and arrest "within hours" strikers he said were behind a campaign of intimidation.

  • MOSCOW, May 14- Russia will restart gas talks with Ukraine if its new leaders pay off at least part of its gas debt, Prime Minister Dmitry Medvedev said on Wednesday, softening Moscow's stance in a dispute that has raised fears of a new "gas war".

  • Nickel due to let off more steam, but rally to power on Wednesday, 14 May 2014 | 11:38 AM ET

    *Indonesia ban akin to cut-off of Saudi supplies in oil. LONDON/ SINGAPORE, May 14- Nickel is likely to see a deeper retreat than Wednesday's 5 percent fall, but it is also due to bounce back as long as top exporter Indonesia keeps squeezing supply and stainless steel producers can absorb higher prices.