Latest Business News Wires - Business Headlines


  • April 22- Amgen Inc on Tuesday reported lower-than-expected first quarter profit as sales of several key products fell short of Wall Street estimates, with its big-selling rheumatoid arthritis drug Enbrel particularly hard hit by inventory stocking by wholesalers late last year.

  • AOL chief communications officer leaves after one year Tuesday, 22 Apr 2014 | 5:53 PM ET

    April 22- AOL head of communications Peter Land left the company on Tuesday after a year working there, marking the latest public relations executive to depart the company. AOL Inc attributed Land's departure to a reorganization of the communications department.

  • Some of the biggest names in Corporate America, including Coca-Cola Co, General Motors Co, United Technologies Corp and McDonald's Corp all in the past week reported strong results from their China operations.

  • April 22- Chipmaker Skyworks Solutions Inc's second-quarter results and current-quarter forecast beat Wall Street estimates, helped by strong sales of chips used to connect machines to the Internet.

  • SAN FRANCISCO, April 22- In 2011, Lytro Inc dazzled the consumer gadget world when it introduced a pocket flashlight-sized gizmo that could take "living" pictures- images that could be refocused after the shutter clicked.

  • DETROIT, April 22- U.S. safety regulators have opened an investigation to determine if the emergency braking system on General Motors Co's 2014 Chevrolet Impala is defective. There are an estimated 61,000 Impala sedans in the United States.

  • April 22- KFC parent Yum Brands Inc on Tuesday said first-quarter sales at established restaurants in China, its top market, rose 9 percent, roughly in line with expectations, as it recovers from an avian flu outbreak and a food safety scare last year that pummeled demand for chicken.

  • April 22- David Einhorn's Greenlight Capital Inc closed the firm's money-losing short position in Chipotle Mexican Grill Inc, the $10 billion hedge fund said in a letter to clients on Tuesday, and the firm has started shorting a group of momentum stocks that he did not identify.

  • April 22- Virtualization software maker VMware Inc reported a better-than-expected 14 percent rise in first-quarter revenue as more customers opted for its cloud infrastructure services and big business clients renewed software licenses. Long-term license agreements, including maintenance and support, make up a quarter to a third of VMware's sales.

  • In January, the EPA agreed to reconsider the mandate, which would have required oil refiners to buy millions of dollars worth of credits if cellulosic fuels were not available to be blended into gasoline or diesel.

  • WASHINGTON, April 22- Former General Motors Co chief executives should be called to testify to the U.S. Congress about the company's slow response to defective ignition switches in cars that have been linked to at least 13 deaths, a Democratic senator said on Tuesday.

  • Top L.A. bankruptcy law firm to close doors Tuesday, 22 Apr 2014 | 5:16 PM ET

    April 22,- The well-known Los Angeles- based bankruptcy law firm Stutman Treister& Glatt, which once advised on the Chapter 11 proceedings of companies including Lehman Brothers and Enron Corp, has announced it is closing.

  • Goldman buys Westpeak in drive for 'smart beta' assets Tuesday, 22 Apr 2014 | 5:15 PM ET

    NEW YORK, April 22- Goldman Sachs Group Inc's asset-management business has agreed to buy Westpeak Global Advisors, a firm that aims to beat market indexes by using factors other than company size to pick stock investments.

  • April 22- Gilead Sciences Inc, which ignited a fierce debate over prescription drug prices, said its new $1,000 hepatitis C pill generated quarterly sales of $2.27 billion, helping the company's quarterly net profit nearly triple.

  • DETROIT, April 22- General Motors' top engineering executive, a longtime colleague and key lieutenant of Chief Executive Mary Barra, is retiring in the automaker's highest profile executive change since the massive recall of vehicles with defective ignition switches linked to at least 13 deaths.

  • April 22- Cree Inc, a maker of light emitting diodes, reported a lower-than-expected quarterly revenue, sending its shares down 8 percent in extended trading. The company's net income rose to $28.2 million, or 23 cents per share, in the third quarter ended March 30 from $22.2 million, or 19 cents per share, a year earlier.

  • SAO PAULO/ BRASILIA, April 22- A global conference in Brazil on the future of the Internet in the wake of U.S. spying revelations might be much less anti-American than first thought after Washington said it was willing to loosen its control over the Web.

  • April 22- At any given time, the acquisitive chief executive of Valeant Pharmaceuticals Inc is brokering multiple deal discussions and eyeing as many as 50 buying opportunities. Pearson's latest target, with help from activist investor Bill Ackman, is Allergan Inc, maker of anti-wrinkle treatment Botox.

  • *Longyuan Group signs no carbon fund contracts in 2013. BEIJING, April 23- Revenues for China's biggest sellers of U.N.-issued carbon credits shrunk last year to a tenth of 2012 values, choking off billions of dollars flowing to clean energy projects in the world's top carbon-emitter.

  • NEW YORK, April 22- AT&T Inc reported quarterly revenue rose by 3.6 percent, boosted by the popularity of a new handset pricing model that charges customers for devices separately from their wireless plans. Excluding items, earnings of 71 cents a share beat Wall Street expectations by 1 cent, according to Thomson Reuters I/B/E/S.