Latest Business News Wires - Business Headlines


  • PARIS/ LONDON, May 30- Fears that a looming U.S. fine on BNP Paribas could be big enough to force it to raise capital and restrict its dividends hit France's biggest bank on Friday, driving its shares to their lowest level in more than eight months.

  • NEW DELHI, May 30- India's economic growth picked up marginally from a decade low in the fiscal year ended March, but pro-business Narendra Modi's thumping victory in the recent general election has stoked optimism of an investment-led turnaround in the coming quarters.

  • WASHINGTON, May 30- U.S. consumer spending fell for the first time in a year in April, but there are signs inflation is stirring, with an inflation gauge rising at its quickest pace since November 2012.

  • LONDON, May 30 (Reuters)- Global shares edged lower after hitting new highs on Friday, with investors positioning cautiously on the last trading day of the month and ahead of expected changes to European Central Bank policy next week.

  • *Recovery in European demand boosts producers in Turkey. ISTANBUL, May 30- New models and a recovery in European demand are set to lift automotive exports from Turkey, Europe's fifth-biggest producer, this year and next, industry representatives predicted, shoring up economic growth and boosting new investment.

  • NEW DELHI, May 30- India's economy grew 4.7 percent in 2013/ 14, marking a second straight year of sub-5 percent growth-- the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 percent annual growth and compared with 4.5 percent in the last fiscal year.

  • *IATA meet of airline execs in Doha June 1-3. DOHA/ KUALA LUMPUR, May 30- Global airlines are gathering in Doha for an industry summit intended to celebrate 100 years of commercial air travel, but now darkened by the disappearance of Malaysian jetliner MH370.

  • NEW YORK, May 30- U.S. stock index futures dipped on Friday following another record close for the S&P 500 a day earlier as traders dismissed a contraction in the economy in the first quarter. *Data on personal consumption and income for April is due at 8:30 a.m. EDT while May's Chicago purchase managers index is expected shortly after the market opens.

  • MADRID/ ROME, May 30- Annual consumer inflation slowed in Italy and Spain in May, heightening concerns about deflation risk in the euro zone as the bloc's central bank gears up for an expected growth-boosting shift in monetary policy next week.

  • *BNP slumps on report of possible $10 billion fine. EDINBURGH, May 30- French shares underperformed on Friday after a report saying the U.S. Justice Department was pushing blue chip bank BNP Paribas to pay more than $10 billion to resolve a criminal inquiry.

  • JAKARTA, May 30- Freeport-McMoRan Copper& Gold Inc's CEO will be in Indonesia next week for talks to resolve the U.S. miner's impasse with the government over exports from its giant Grasberg copper and gold mine that have halted since January.

  • TOKYO/ SINGAPORE May 30- Japanese Prime Minister Shinzo Abe toured Singapore's two lavish casino resorts on Friday as his country considers allowing casino gambling to boost tourism and attract investment.

  • WASHINGTON/ NEW YORK, May 30- U.S. environmental regulators could throw a lifeline to the nation's ailing nuclear power fleet when they unveil landmark carbon pollution curbs next week, heeding calls from operators like Exelon Corp to acknowledge nuclear energy as a valuable way to reduce emissions.

  • *Fed funds market distorted by huge amount of excess reserves. NEW YORK, May 30- Don't count on the U.S. The Fed has flooded the financial system with $3.4 trillion, and $2.6 trillion of that has ended up back at the Fed as excess bank reserves.

  • *Copper cash trades at premium to three-month contract. LONDON, May 30- Copper prices on Friday headed for their biggest monthly gain since December, underpinned by recovering demand from top consumer China, while nickel rose on persistent concerns about a supply shortage.

  • China says will tweak monetary policy when needed Friday, 30 May 2014 | 6:34 AM ET

    BEIJING, May 30- China will pre-emptively tweak its monetary policy when needed to keep growth in the world's second-largest economy stable, the country's cabinet said on Friday after a weekly meeting.

  • * "Russian Orthodox Army" is mostly Ukrainian but identifies as Russian. *One of several armed rebel groups fighting in Ukraine's east. Calling itself the " Russian Orthodox Army", it has been engaged in the heaviest fighting against Ukraine's army in the Donetsk region this month.

  • *Brent seen averaging $105.90, WTI $98.70 in 2014. Brent crude oil will average $105.90 a barrel in 2014, the Reuters monthly survey of 28 analysts projected, below the $108.19 average seen so far this year. In order to average $105.90 for 2014, Brent would need to drop sharply to an average of $104.26 a barrel for the remaining seven months of this year.

  • The burly billionaire businessman who built a vast fortune selling cakes and sweets has inherited a bitter legacy- a wrecked economy, rampant corruption, armed rebellion in eastern Ukraine and hostility from giant neighbour Russia.

  • PARIS/ LONDON, May 30- Shares in France's biggest bank BNP Paribas fell sharply on Friday on concerns a possible U.S. fine for alleged sanctions-busting could be big enough to restrict its dividends and force it to raise money to boost its capital.