Latest Business News Wires - Business Headlines


  • FRANKFURT, May 12- Hochtief, majority-owned by Spanish builder ACS, has raised its stake in Leighton Holdings to nearly 70 percent, tightening its grip on Australia's biggest construction company and paving the way for its restructuring.

  • Mercuria hires ex-Goldman executive to run trading Monday, 12 May 2014 | 6:12 AM ET

    LONDON, May 12- Fast growing Swiss trading house Mercuria has hired a former top executive from Goldman Sachs to run its global commodities trading, as it expands further into the territory abandoned by many top Wall Street lenders under tighter regulatory scrutiny.

  • May 12- BNP Paribas and Credit Suisse Group have appealed to U.S. authorities to allow their local subsidiaries, rather than the parent companies, to plead guilty to criminal charges they face in the United States, the New York Times reported, citing people briefed on the talks.

  • PRECIOUS-Gold rises as tensions simmer in Ukraine Monday, 12 May 2014 | 6:01 AM ET

    *Pro-Russian separatists claim victory in Ukraine vote. LONDON, May 12- Gold rose above $1,290 an ounce on Monday as simmering tensions in Ukraine and a weaker dollar lent support, but a lack of investment on the back of expectations for strengthening U.S. growth held gains in check.

  • DUESSELDORF, Germany, May 12- Europe's top electronics retailer Media-Saturn is hoping express home delivery services will help offset pressure on margins and boost online revenues as it tries to make up for a delayed e-commerce launch caused by in-fighting among its owners.

  • BRUSSELS, May 12- The European Union was set to take a cautious step towards extending sanctions against Russia on Monday, targeting companies, as well as people, linked to Moscow's annexation of Ukraine's Crimea region.

  • *Strike would cripple half of Australia's iron ore exports. *Iron ore is Australia's top export earner. MELBOURNE, May 12- Tugboat workers at Australia's main iron ore port threaten to hold a strike that could halt a quarter of the world's iron ore exports and cost miners $100 million a day, just as the industry battles to slash costs and get more out of its workers.

  • Pfizer says its commitments to UK legally binding Monday, 12 May 2014 | 5:31 AM ET

    PFIZER SAYS ITS COMMITMENTS TO UK LEGALLY BINDING@. LONDON, May 12- U.S. drugmaker Pfizer said on Monday its commitments to preserving British science jobs if it wins a $106 billion battle to take over AstraZeneca were legally binding.

  • ABU DHABI, May 12- Payments for completing projects should drive revenue growth at Aldar Properties in the next two quarters, as the largest property developer in Abu Dhabi benefits from a rebound in the local real estate market, its finance chief said.

  • BEIJING, May 12- China's new bank lending and total social financing weakened in April, but money supply growth picked up slightly, indicating the central bank is treading cautiously in steering policy to support the slowing economy.

  • BEIJING, May 12- China's young rural migrant workers are more eager to work in cities, and are spending more and saving less, an official survey showed on Monday, a trend that could boost Beijing's efforts to urbanise and re-balance the economy in the long term.

  • LONDON, May 12- Brent crude oil rose above $108 per barrel on Monday as the deepening crisis between Russia and Ukraine unsettled investors.

  • MILAN, May 12- Australia's Ramsay Health Care is aiming to gain a majority stake in French private healthcare group Generale de Sante via a joint bid that values the company at around 910 million euros.

  • HONG KONG, May 12- Hong Kong shares posted their highest gain in seven weeks on Monday, boosted by local property developers amid speculation the government may relax the city's stamp duty rules.

  • *Alstom up on German support for Siemens tie-up. LONDON, May 12- European stocks inched higher on Monday, with France's Alstom rallying after Germany said it would support a takeover by Siemens, but tensions in Ukraine are likely to limit the market's strength.

  • LONDON, May 12- U.S. drugmaker Pfizer pressed the scientific case for its controversial plan to acquire AstraZeneca on Monday as its chief executive prepared for a grilling from British lawmakers.

  • FOREX-Euro gains foothold, eyes on ECB speakers Monday, 12 May 2014 | 3:54 AM ET

    LONDON, May 12- The euro started the week on a steadier footing, looking to comments by European Central Bank officials and a flow of data for fresh direction after two straight sessions of losses.

  • MOSCOW, May 12- Russian steelmaker Severstal has received bids from potential buyers for its North American operations, a Russian source familiar with the matter said on Monday. Severstal's operations in the United States consist of steel plants in Dearborn, Michigan and Columbus, Mississippi.

  • FRANKFURT/ LONDON, May 12- British Sky Broadcasting said on Monday it was in early talks with Rupert Murdoch's 21st Century Fox over the possible acquisition of its pay-TV assets in Germany and Italy, Sky Deutschland and Sky Italia. Fox owns a 39 percent stake in BSkyB, a 55 percent stake in Sky Deutschland and all of Sky Italia.

  • SYDNEY, May 12- London nickel jumped by nearly 5 percent on Monday, extending a winning streak that has fuelled gains of more than 12 percent in May alone as investors and consumers stock up on prospects of a worsening supply shortfall later in the year.