Latest Business News Wires - Business Headlines


  • China to start gold swaps trading on Nov. 25 Friday, 22 Nov 2013 | 4:49 AM ET

    SHANGHAI, Nov 22- China, set to overtake India this year as the world's top gold consumer, will start gold swaps trading on the interbank market next week, giving more hedging tools for banks dealing in bullion.

  • European shares rally, Tullow Oil buoyed by oil find Friday, 22 Nov 2013 | 4:40 AM ET

    *Tullow Oil boosted by oil find. Tullow Oil helped lead the gains after it reported finding oil in Kenya. Tullow Oil advanced 2.4 percent after saying its Kenya onshore exploration well found oil.

  • DUBAI, Nov 22- Lockheed Martin Corp on Friday welcomed South Korea's plans to buy 40 F-35 fighter jets and said it still aimed to build a military communications satellite for Seoul and provide other technology transfers, despite a cut in the number of jets to be ordered.

  • PRAGUE, Nov 22- A potential deal that would allow Slovakia to ship natural gas to Ukraine packs more of a political punch than actually bringing much short-term relief in easing Ukraine's reliance on Russian supplies, experts and analysts say.

  • MANILA, Nov 22- The Philippines is compiling a typhoon reconstruction plan which needs to win budget support from Congress and attract funds from the private sector and donors with ideas likely to shape President Benigno Aquino's legacy.

  • KIEV, Nov 22- Ukraine's decision not to sign a deal strengthening ties with the European Union was motivated solely by economics and was "tactical", Prime Minister Mykola Azarov said on Friday. Azarov told parliament that Thursday's move, coupled with renewing active dialogue with Russia, did not alter Ukraine's overall development strategy.

  • BERLIN, Nov 22- German business morale rose far more than forecast in November, reaching its highest level since April 2012, in a sign that Europe's largest economy is steadily recovering after a weak start to the year.

  • *Investors focus on Iran talks, but little hope of breakthrough. "The focus is going to be about Iran and it doesn't seem that everything is going to be done today. Sanctions on Iran have kept around 1 million barrels per day of oil from the global market and any deal could allow some of that oil to be sold, potentially bringing down prices.

  • SINGAPORE, Nov 22- The planned sale of Societe Generale's Asian private bank, for which final bids are due next week, underscores how high costs are pushing smaller players in the region to make hard decisions on whether to bulk up and or get out of the business.

  • *China reliance on LNG to increase significantly. PERTH, Nov 22- China is likely to see natural gas shortages every winter until the end of the decade as domestic production fails to keep up with demand, a factor likely to drive global liquefied natural gas prices higher, energy consultancy Wood Mackenzie said in a report released on Friday.

  • LONDON, Nov 22- The euro hovered near a four-year high against the yen and rose against the dollar as investors positioned for a robust German business sentiment survey that is likely to show a continued rebound in Europe's largest economy.

  • LONDON, Nov 22- Novartis is hot on the heels of Pfizer in developing a promising new type of breast cancer drug that analysts believe could generate billions of dollars in annual sales.

  • KIEV, Nov 22- Ukraine's decision not to sign a deal strengthening ties with the European Union was motivated solely by economics and was "tactical", Prime Minister Mykola Azarov said on Friday.

  • *Data seen positive for Japan's goal of beating deflation. TOKYO, Nov 22- Japanese consumer inflation likely accelerated to a fresh five-year high and factory output probably rose for a second straight month in October, a Reuters poll showed, underscoring a steady recovery in the world's third-largest economy.

  • China considers Taiwan a renegade province and has never ruled out the use of force to bring it under its control. Ma said he had announced two years ago that there had to be a referendum in Taiwan on political talks before negotiations could begin. Taiwan does not have to rush, "Ma said, speaking through a translator.

  • Novartis helps European shares edge up after buyback Friday, 22 Nov 2013 | 3:10 AM ET

    LONDON, Nov 22- European shares opened higher on Friday, lifted by Swiss drugmaker Novartis after a $5 billion share buyback announcement, with sentiment also supported by rallies in U.S. and Japanese shares overnight.

  • HONG KONG/SHANGHAI, Nov 22- Chinese shares listed in Hong Kong outperformed markets in the mainland and most of Asia ex- Japan on Friday, as strength in growth-sensitive stocks helped the H-share index have its biggest weekly gain in nearly two years.

  • BERLIN, Nov 22- A robust rise in domestic demand overshadowed weak exports to drive a 0.3 percent expansion in the German economy in the third quarter, giving the government ammunition in its showdown with Brussels over euro zone trade imbalances.

  • MARTORELL, Spain, Nov 22- While much of the European car industry is in dire straits, Spanish assembly plants are raising production, winning new models and creating jobs despite years of recession.

  • SYDNEY, Nov 22- The bad-tempered battle between Virgin Australia Holdings Ltd and Qantas Airways Ltd over Australia's skies is a proxy for increasingly tough regional competition among carriers including ambitious Gulf airlines Etihad and Emirates.

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