Latest Business News Wires - Business Headlines


  • *BMW and Tesla executives seek ways to promote electric cars. FRANKFURT, June 13- German premium auto maker BMW said its managers had met with executives from U.S.-based Tesla Motors Inc to discuss ways to promote the use of electric cars.

  • LONDON, June 13- In 1988, Supreme Leader Ayatollah Ruhollah Khomeini "drank the cup of poison" and agreed to a U.N.-mediated ceasefire with Saddam Hussein to end the devastating Iran- Iraq war.

  • BEIJING, June 13- China's economy showed some signs of stabilising in May as the government unveiled more stimulus measures to avert a sharper slowdown, but signs of further deterioration in the property market indicate more policy support may still be needed.

  • *Tehran may be willing to cooperate with US in Iraq. *Iran closely watching insurgent advance in Iraq. ANKARA, June 13- Shi'te Muslim Iran is so alarmed by Sunni insurgent gains in Iraq that it may be willing to cooperate with Washington in helping Baghdad fight back, a senior Iranian official told Reuters.

  • BUSINESS-NEWS-SCHEDULE AT 0830 GMT / 4.30 AM ET Friday, 13 Jun 2014 | 4:50 AM ET

    LONDON- Bank of England Governor Mark Carney says that British interest rates could rise sooner than financial markets expect in a surprisingly stark warning that monetary policy may start to tighten within months. -MARKETS- UK/ REACTION, moved, by Anirban Nag, 480 words.

  • LONDON, June 13- Shares in Britain's housebuilders and property developers fell on Friday after the government and the Bank of England signalled they were ready to intervene to cool the country's surging house market.

  • Hong Kong H-shares post 5th straight weekly gain Friday, 13 Jun 2014 | 4:10 AM ET

    HONG KONG, June 13- The index of Chinese companies listed in Hong Kong posted its 5th consecutive weekly gain on Friday, its longest winning streak since early 2012, lifted by bank shares.

  • *Airlines sink, oil majors rise as Iraq violence boosts oil. Violence in Iraq hit broader market sentiment and boosted oil prices, with airline stocks among the worst hit while shares in oil majors gained.

  • LONDON, June 13- Sterling neared five-year highs against the dollar on Friday and UK stocks fell after the Bank of England chief warned interest rates could rise sooner than markets expected.

  • *Obama warns of U.S. action as jihadists push on Baghdad. SINGAPORE, June 13- Brent crude climbed to a nine-month high near $115 a barrel on Friday, as supply disruption fears took centre stage after the United States threatened military action in Iraq against Sunni Islamist militants who are pushing on towards Baghdad.

  • *Japan's corporate tax among highest in the world. TOKYO, June 13- Japanese Prime Minister Shinzo Abe unveiled a plan on Friday to cut the corporate tax rate below 30 percent in stages over a few years from the next fiscal year to help pull the economy out of two decades of sluggish growth and deflation.

  • FOREX-Dollar edges up vs yen, sterling drives higher Friday, 13 Jun 2014 | 3:47 AM ET

    LONDON, June 13- The dollar was up around a third of a percent against the yen as markets listened to the Bank of Japan's latest comments on policy on Friday while sterling soared on the back of a surprise hint from the Bank of England that interest rates could rise this year.

  • BAQUBA, Iraq, June 13- Sunni Islamist militants gained more ground in Iraq overnight, moving into two towns in the eastern province of Diyala, while U.S. Militants from the Islamic State in Iraq and the Levant overran the northern city of Mosul earlier this week and have since pressed south towards Baghdad in an onslaught against the Shi'ite-led government.

  • LONDON, June 13- Shares in Britain's house builders, including Barratt Developments and Persimmon slipped on Friday after finance minister George Osborne said he would give the Bank of England stronger powers to curb mortgage lending.

  • Violence in oil-rich Iraq hit broader market sentiment as it boosted oil prices, with fuel-thirsty airline stocks among the worst hit while oil majors gained. The euro zone Euro STOXX 50 index was down 0.1 percent at 3,279.73 points while Britain's FTSE was down 0.3 percent.

  • BEIJING, June 13- Growth in real estate investment in China slowed in the first five months of 2014, while property sales and new construction fell, adding to signs of cooling in the property market that has become a persistent drag on the broader economy.

  • The annual decline is good news for rival exporters such as Brazil and the United States, which are hoping to expand sales to India's traditional customers in Southeast Asia including Malaysia, Indonesia and Vietnam.

  • Shanghai shares close at highest in over 7 weeks Friday, 13 Jun 2014 | 3:09 AM ET

    HONG KONG, June 13- Shanghai shares closed at their highest level in more than 7 weeks on Friday as Chinese banks were buoyed by stronger-than-expected lending data, adding to hopes that the economy is stabilising. The CSI300 of the leading Shanghai and Shenzhen A-share listings jumped 1.1 percent to close at a one-month high.

  • ACCRA, June 13- Rising bond yields, mounting inflation and a weakening currency have taken the shine off Ghana, a country until recently hailed as a model for African growth.

  • LONDON, June 13- Sterling soared to 1-1/ 2 year highs against the euro on Friday while interest rate futures pointed to the first policy tightening in the UK before the end of the year after hawkish comments from Bank of England Governor Mark Carney. The euro fell to 79.87 pence, down 0.22 percent on the day, and its lowest since November 2012.