Latest Business News Wires - Business Headlines


  • *Iron ore stocks in China swell to record 105 mln tonnes. SINGAPORE, March 10- Chinese steel futures hit record lows and spot iron ore prices posted the biggest one-day fall in over four years on Monday after China's trade balance swung into deficit and amplified fears of a slowdown in the world's No. 2 economy.

  • Europe reaches crunch point on banking union Monday, 10 Mar 2014 | 11:48 AM ET

    *Countries grapple for deal to prevent embarrassing delay. BRUSSELS, March 10- European governments and lawmakers will try to reach a deal this week on how to wind down failing banks, clearing the way for a landmark reform as time runs out to win European Parliament approval before May elections.

  • New spat emerges in South Africa's platinum strike Monday, 10 Mar 2014 | 11:44 AM ET

    JOHANNESBURG, March 10- A public spat emerged on Monday between South Africa's labour mediator and the Chamber of Mines over the former's handling of talks to end an almost seven-week strike in the platinum sector, further dashing hopes of any breakthrough.

  • *Simmering tensions over Ukraine hurt stocks, lift gold. LONDON, March 10- Gold recovered from early losses to edge higher on Monday as support from the standoff in Ukraine offset pressure from last week's strong U.S. payrolls data and weakness in other commodities after a sharp drop in Chinese exports.

  • *China's trade balance swings to deficit. NEW YORK, March 10- U.S. "The backup in yields thus far is going to create decent demand," Guy LeBas, chief fixed income strategist at Janney Montgomery Scott in Philadelphia.

  • March 10- Chemical manufacturer FMC Corp said it would split into two companies, one comprising its minerals business and the other its agricultural solutions, health and nutrition businesses. FMC's shares rose as much as 8 percent to a life-high of $83.94 in morning trade on the New York Stock Exchange on Monday.

  • *Deputy governor says stronger sterling unhelpful for UK. DARLINGTON, England, March 10- The Bank of England could keep interest rates lower for longer if sterling strengthens much more, Bank of England deputy governor Charlie Bean said on Monday, in a rare comment by the central bank on the level of the pound.

  • DUBLIN, March 10- U.S. fruit firm Chiquita Brands and Irish rival Fyffes, Europe's largest distributor, have struck an all-stock deal to create the world's biggest banana supplier.

  • UPDATE 1-EU puts Russia gas pipeline talks on hold Monday, 10 Mar 2014 | 11:15 AM ET

    FRANKFURT/ BRUSSELS, March 10- Political talks between EU officials and Russia on its South Stream gas pipeline to bypass Ukraine are on hold, while Gazprom's access to another vital link has stalled for technical reasons, the European Commission said on Monday.

  • *BASF's Wintershall, Mikhail Fridman, MOL still in the race- sources. With operations in 14 countries including Germany, Britain, Norway and Egypt, DEA employs nearly 1,400 and accounted for about 9 percent of RWE's operating profit last year.

  • *Jitters over Ukraine contained for now. NEW YORK, March 10- The U.S. dollar held steady against major currencies on Monday, supported by hopes U.S. job growth would pick up in the wake of last week's mildly encouraging report on hiring and as tension over Ukraine remained contained.

  • Mt. Gox files for U.S. bankruptcy protection Monday, 10 Mar 2014 | 10:55 AM ET

    Bankruptcy in Dallas late Sunday, a move that will temporarily put U.S. legal action on hold against the Japanese company. The company said without U.S. bankruptcy protection it would spend substantial funds defending itself against a U.S. lawsuit seeking class action status that was filed in Chicago federal court.

  • *Traders squaring positions ahead of USDA supply-demand report. At 9:42 a.m. CDT, Chicago Board of Trade May soybean futures were down 14-1/ 2 cents at $14.43-1/ 4 a bushel. CBOT May corn was down 3 cents at $4.86 a bushel and CBOT May soft red winter wheat was 2 cents lower at $6.52 a bushel.

  • WASHINGTON, March 10- The U.S. Supreme Court on Monday agreed to consider whether class action claims against underwriters of securities issued by a unit of the now-defunct IndyMac Bancorp Inc should be able to proceed.

  • TRIPOLI, March 10- Libya's parliament has ordered a special force be sent within one week to "liberate" all rebel-held ports in the volatile east, officials said on Monday, raising the stakes over a blockage that has cut off vital oil revenues.

  • SERRANIA DE PERIJA, Colombia, March 10- After enduring eight hours of machine-gunfire and bombs between leftist rebels and right-wing paramilitaries, Maura Leonor Vega and her husband fled their home of four decades in Colombia's Andes for the shelter of the nearest town.

  • SOFTS-Coffee sets 2-year high as global deficit looms Monday, 10 Mar 2014 | 10:29 AM ET

    *Dry weather set to cut Brazil coffee crop for two seasons. LONDON, March 10- Coffee prices climbed to a two-year high on Monday as dry weather in Brazil raised the prospect of a global deficit in 2014/ 15 and potentially the following season as well.

  • *Minerals to buy Amcol for $1.7 bln. March 10- Minerals Technologies Inc said it would buy Amcol International Corp for about $1.7 billion, after Paris- based Imerys SA failed to match Minerals' sweetened bid of $45.75 per share.

  • NEW YORK, March 10- U.S. stocks edged modestly lower on Monday, and the S&P 500 held near record highs, as investors largely shrugged off unexpectedly weak data in China. "I don't think it's disruptive to the way people are looking at China as an economy that has lost some of its hyperbolic move and that is almost welcome."

  • March 10- McDonald's Corp on Monday reported a bigger-than-expected drop in comparable global sales for February, hurt again by slow business in the United States. McDonald's Chief Financial Officer Pete Bensen said in a press release that the unchanged global comparable sales so far this year "will pressure margins" in the first quarter.