Latest Business News Wires - Business Headlines


  • Treasuries yields on Friday hit 14- month lows on anxious buying driven by American airstrikes against Islamist militants in Iraq before U.S. debt prices eased on news that Russia was winding up military exercises near the Ukraine border.

  • Hacking group wants to play nice with automakers Friday, 8 Aug 2014 | 3:20 PM ET

    LAS VEGAS, Aug 8- A group of well-known hackers and security professionals are trying to build better ties with the auto industry in an effort to enlist their help in improving vehicle security, one of the hottest areas of cyber research.

  • NEW YORK/ LONDON, Aug 8- Gold fell on Friday, pressured by a lack of physical buyers and gains on Wall Street, but a U.S. air strike in Iraq and tensions in Middle East supported prices, which stayed above $1,300 an ounce. Gold was up around 1 percent for the week, its first weekly increase in four weeks.

  • *Major indexes at session high after Russia report. NEW YORK, Aug 8- U.S. stocks rose Friday, with major indexes hitting session highs and erasing losses from the week, buoyed by news that Russia was ending military drills near the Ukrainian border that the U.S. had rapped as being "provocative."

  • The World Health Organization has declared the West African epidemic a public health emergency, reviving interest in antiviral drugs that could treat Ebola. Companies such as Tekmira Pharmaceutical Corp, BioCryst Pharmaceuticals Inc and NanoViricides Inc have drugs that are still in pre-clinical trials, meaning they are yet to be tested in humans.

  • DETROIT, Aug 8- General Motors said on Friday it is recalling 269,000 vehicles to fix a variety of defects. The largest of the five recalls involves 202,115 Saturn Vue crossovers from model years 2002-2004 to replace faulty ignition cylinders. GM said the ignition key in some cases can be removed while the vehicle is running.

  • SOFIA, Aug 8- Bulgaria's central bank has asked the International Monetary Fund to carry out an in-depth review of the Balkan country's financial sector following its worst banking crisis since the 1990 s, it said on Friday.

  • BUSINESS-NEWS-SCHEDULE AT 1830 GMT / 2:30 P M ET Friday, 8 Aug 2014 | 2:38 PM ET

    Pfizer confronts surge of lawsuits over Lipitor. Pharmaceutical giant Pfizer is facing a mounting number of lawsuits by women who say the company knew its blockbuster anti-cholesterol drug Lipitor was linked to a small increased risk of type-2 diabetes but never properly warned the public.

  • District Judge Thomas Griesa could suspend his ruling that orders Argentina to pay in full New York hedge funds before it resumes payments on a separate stock of bonds on which Buenos Aires is now considered by financial markets to be in default.

  • SEATTLE, Aug 8- A former Microsoft Corp employee was sentenced to two years in prison on Friday for his part in an insider trading scheme that netted him and his partner more than $400,000. District Judge Marsha Pechman said in handing down the sentence in Seattle federal court.

  • OTTAWA, Aug 8- Jean Boivin, the Canadian Finance Ministry's second most powerful official and a man seen as a potential candidate to head the Bank of Canada one day, is leaving to take a job in the private sector, the ministry said on Friday.

  • Aug 8- Contractors at ArcelorMittal SA's iron ore mine in Liberia are evacuating the country and other miners are sending staff home to prevent the spread of the deadly Ebola virus. A prolonged outbreak, however, will threaten mineral production in Sierra Leone, Liberia and Guinea if essential supplies are disrupted and employees stay away from work too long.

  • The company, formerly known as Fair Isaac Corp, said on Thursday that overdue medical payments that have already been settled will be ignored while calculating credit risk.

  • *Shares cut losses, Bunds pare gains as Iraq concerns settle. President Barack Obama' s decision to authorize air strikes in Iraq, but most equity markets rebounded from overnight lows.

  • *Second-quarter productivity rises at 2.5 percent pace. WASHINGTON, Aug 8- Productivity at U.S. nonfarm businesses rebounded strongly in the second quarter, putting a lid on wage pressures and giving the Federal Reserve room to keep interest rates low for a while.

  • NEW YORK, Aug 8- In a setback for the trustee seeking money for the former customers of imprisoned fraudster Bernard Madoff, an appeals court refused to void two settlements benefiting investors who sued "feeder funds" that sent their money to Madoff.

  • UNITED NATIONS, Aug 8- Any bid by Russia to deliver humanitarian aid into Ukraine would be viewed as an invasion, the United States said on Friday, warning that Moscow voiced similar concerns for civilians before its brief 2008 war with Georgia.

  • *Afren suspends output from Kurdistan, shares weaken. *Nokian Renkaat hit by plummeting sales in Russia. Tensions between the West and Russia and the advance of Sunni militants in Iraq have alarmed investors already weighing the implications of weak European economic data and the prospect of U.S. monetary tightening.

  • BRUSSELS, Aug 8- Steel and mining company ArcelorMittal on Friday announced force majeure on a project that is planned to triple its iron ore production in Liberia because of the Ebola epidemic sweeping West Africa.

  • LONDON, Aug 8- Oil companies in Iraqi Kurdistan withdrew more staff on Friday as the United States launched airstrikes to defend the regional capital Arbil from Islamic State militants and Britain told its citizens to leave. London- listed Afren and Toronto- listed Oryx said on Friday they were cutting production at oilfields closest to the fighting.