Latest Business News Wires - Business Headlines


  • NEW YORK, May 9- U.S. stock investors are finding the value of staying close to home. RBC Capital Markets found that sales growth among companies with a high percentage of their revenue coming from the United States was three times stronger than those with a bigger international sales mix.

  • WASHINGTON, May 9- U.S. trade regulators ruled on Friday in favor of investigating allegations that Mexico is dumping cheap sugar in the United States, taking Washington closer to imposing penalties on sweetener imports.

  • May 9- Few if any of the big U.S. pension or college endowment funds appear ready to follow in Stanford University's footsteps and pull their money out of shares of coal miners or other fossil fuel producers.

  • *Apple reportedly close to deal for Beats Electronics. *IBM helps Dow; momentum shares like Gilead, Netflix rise.

  • WASHINGTON, May 9- Swiss asset management firm, Swisspartners Group, agreed to pay $4.4 million to the United States to settle a probe over whether it helped U.S. taxpayers evade their federal income taxes, the U.S. Department of Justice announced on Friday.

  • WASHINGTON, May 9- The U.S. Food and Drug Administration has approved the use of a robotic arm for amputees that is named for the "Star Wars" character Luke Skywalker and can perform multiple, simultaneous movements.

  • May 9- A former executive at an e-commerce company that was acquired in 2011 by online retailer eBay Inc pleaded guilty on Friday to insider trading in connection with the takeover. District Judge Stewart Dalzell in Philadelphia, and was released on $300,000 bail, court records show.

  • In April, the Obama administration warned China, the world's second largest economy, that the yuan was too weak and expressed doubts over Beijing's commitment to let market forces determine the currency's value.

  • ST LOUIS/ NEW YORK, May 9- A U.S. Treasury Department division charged with policing money laundering may have run afoul of federal regulations that require military veterans to be given preference for jobs in the government if they are qualified, according to sources and documents seen by Reuters.

  • NEW YORK, May 9- The Dow ended at a record high on Friday, boosted by shares of IBM, while a rebound in high-growth momentum names helped the broader market. The Dow Jones industrial average rose 32.37 points or 0.2 percent, to end unofficially at 16,583.34. The S&P 500 gained 2.85 points or 0.15 percent, to finish unofficially at 1,878.48.

  • The environmental group Earthjustice petitioned the EPA to consider the rules on fracking fluids. Jones told reporters the EPA wants to learn what is happening at the state level and what voluntary mechanisms are available for reporting. Deborah Goldberg, an attorney with Earthjustice, said the EPA was being "less than aggressive" on the issue.

  • Treasury Secretary Jack Lew will discuss China's currency policy and a range of other economic issues during a visit to the Asian nation next week, senior Treasury officials said on Friday. They said while Beijing had made progress in moving to a more flexible currency regime, the Chinese yuan remained undervalued.

  • BOSTON, May 9- Like father, like son. The father and son duo have been laying the groundwork for months and Carl Icahn recently mentioned it quietly to some deep-pocketed friends who may want to commit cash, said the sources, who were prohibited from discussing the plan publicly.

  • NEW YORK, May 9- U.S. crude futures fell modestly in range-bound trade on Friday as the market balanced support from a drawdown in domestic crude stockpiles against technical sell points that have kept oil from rallying, while Brent was lower as traders awaited developments in the Ukraine crisis.

  • Senior members of the U.S. House of Representatives' Financial Services Committee said in a letter that they fear the United States may end up surrendering on financial regulatory matters to the Financial Stability Board, a group they referred to as an "international old boys club that deliberates in secret."

  • Zale shareholder TIG opposes merger with Signet Friday, 9 May 2014 | 3:46 PM ET

    May 9- Zale Corp shareholder TIG Advisors LLC opposed the jeweler's proposed merger with Signet Jewelers Ltd, calling the $21 million offer inadequate and unfair to Zale stockholders. Zale shares rose as much as 4.2 percent to $22.08 on the New York Stock Exchange in late trading on Friday.

  • LOS ANGELES, May 9- Kellogg Co has agreed to stop using terms such as "All Natural" and "100% Natural" on some of its Kashi and Bear Naked brand product labels and to pay more than $5 million to settle a class-action consumer fraud lawsuit. The settlement must be approved by a federal judge in San Diego overseeing the case before the suit is dismissed.

  • NEW YORK/ LONDON, May 9- Gold dropped on Friday, notching its second consecutive weekly drop, with selling triggered by a sharp rise in the U.S. dollar and analysts' expectation that the Federal Reserve could raise interest rates next year.

  • *Apple reportedly close to deal for Beats Electronics. NEW YORK, May 9- U.S. stocks barely budged on Friday, with Apple's slide offset by a rebound in high-growth momentum names.

  • WASHINGTON, May 9- Tighter enforcement of corporate tax laws by other countries could be a problem for the United States if it means businesses pay more tax to foreign governments and cross-border disputes increase, a senior U.S. tax official said on Friday.