Latest Business News Wires - Business Headlines


  • SYDNEY, Nov 26- Australia summoned China's ambassador to express concern over its imposition of an " Air Defence Identification Zone" over the East China Sea, the Foreign Minister said on Tuesday, decrying the move as unhelpful in a region beset by tension.

  • OSLO, Nov 26- Fertiliser maker Yara has bought a string of assets in Latin America and continues to push ahead with other expansion plans, staying on course for its 2016 growth targets, it said on Tuesday.

  • *CEO says China of particular concern. FRANKFURT, Nov 26- German fashion house Hugo Boss said it would not meet its target of 750 million euros in core operating profit in 2015 due to slower than expected growth in China and Europe. Shares in Hugo Boss were marked down 6.1 percent in early Frankfurt trades ahead of the wider market open at 0800 GMT.

  • Web start-ups: The dotcom bubble all over again? Tuesday, 26 Nov 2013 | 2:07 AM ET

    A growing group of social and mobile Web services are poised to become the next Facebook. Just ask them.

  • HONG KONG, Nov 26- Shanghai shares of Chinese energy giant Sinopec Corp sank to a more than one-week low on Tuesday after police detained nine people in connection with the blast on its Qingdao oil pipelines, pushing benchmark indexes in China to another loss.

  • UPDATE 1-Bayer bids $2.4 bln for Norway's Algeta Tuesday, 26 Nov 2013 | 2:05 AM ET

    *Bid at 27 pct premium to Algeta's last close. *Bayer, Algeta jointly develop prostate cancer drug. OSLO, Nov 26- German pharmaceutical group Bayer has offered to buy Norway's Algeta, its partner for a new prostrate cancer treatment, for $2.4 billion, a 27 percent premium to the stock's last close, Algeta said on Tuesday.

  • BEIJING, Nov 26- China will rely on market-based reforms to unleash fresh growth drivers to support the economy, not ultra-loose policies, central bank chief Zhou Xiaochuan said on Tuesday. Zhou said China needs to maintain relatively strong economic growth, given the pressure for job creation.

  • TOKYO, Nov 26- Japanese stocks retreated from a 6- month high on Tuesday as a pause in the weak yen trend triggered profit-taking on exporters, which led the market's recent frenetic rise. The Nikkei ended 0.7 percent lower at 15,515.24 after climbing to 15,619.13 on the previous day, within sight of a 5-1/ 2- year peak reached in May.

  • *U.S. crude prices recover, up 0.5 pct to $94.5 a barrel. TOKYO, Nov 26- Asian shares rose for the third straight day on Tuesday, while oil prices regained some semblance of stability after the previous session's slide as traders questioned how quickly the Iranian nuclear accord could turn into higher supplies.

  • INSIGHT-A new wave of U.S. mortgage trouble threatens Tuesday, 26 Nov 2013 | 1:00 AM ET

    Nov 26- U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country's biggest banks. More than $221 billion of these loans at the largest banks will hit this mark over the next four years, about 40 percent of the home equity lines of credit now outstanding.

  • social and mobile Web services are poised to become the next Facebook Inc. Just ask them. "I wouldn't buy a pizzeria just because the phone is ringing off the hook," David Cowan, a partner at Bessemer Venture Partners, said in a telephone interview.

  • SHANGHAI, Nov 26- China's foreign exchange market was anemic on Tuesday as activity by major Chinese banks erased market volatility, keeping the yuan trading within a miniscule six-point range in the morning session.

  • *Iran taps tanker shipping network to tackle unsold oil glut. *U.S. Senate leader Reid not rushing to new Iran sanctions. SINGAPORE, Nov 26- Brent futures held near $111 a barrel on Tuesday as supply concerns crept back, with investors judging the historic deal between Iran and world powers would not result in an immediate increase in shipments from the OPEC member.

  • NEW YORK, Nov 25- United Kingdom won three International Emmy Awards on Monday, including one for Sean Bean as best actor, and producer-director J.J. Abrams received a special honor for his work on television series and films such as "Lost," "Star Trek" and the upcoming "Star Wars" chapter.

  • BEIJING, Nov 26- Biel Crystal Manufactory Ltd, a Hong-Kong based company that makes screens for Apple Inc, is violating workers' rights at its Chinese factories, a Hong Kong rights group alleged in a report. Kitty Potter, a spokeswoman for Apple in Greater China, said that the U.S. company "investigates such cases."

  • FOREX-Yen bounces off lows but still seen vulnerable Monday, 25 Nov 2013 | 11:54 PM ET

    TOKYO, Nov 26- The yen got a slight reprieve on Tuesday, ticking up from a six-month low against the dollar after soft U.S. housing data, but the Japanese unit stayed near multiyear lows against European currencies.

  • *India, second-largest buyer from Iran, owes it $5.3 bln. NEW DELHI, Nov 25- India could step up crude imports from Iran next month and start transferring billions of dollars it owes for oil as early as next week, following a deal between Tehran and six world powers to curb the Islamic Republic's nuclear programme.

  • *Hyundai looks to sell 10 percent more cars in U.S. next year. Hyundai, the world's fifth-biggest automaker along with Kia Motors, is looking to lift its total U.S. vehicle sales by 10 percent next year on the back of the release of the new Genesis and, more importantly, the Sonata sedan.

  • *GDP data to be released on Nov. 29 at 1200 GMT. BANGALORE, Nov 26- India's economic growth likely picked up slightly in the July-September quarter as improved manufacturing activity steered it from a four-year low in the previous three months, a Reuters poll showed on Tuesday.

  • SINGAPORE, Nov 26- Gold was trading near a one-week high on Tuesday, buoyed by short-covering gains in the previous session, but still looking likely to drop back as physical demand remained lacklustre and uncertainty over the U.S. stimulus outlook weighed. Spot gold was unchanged at $1,251.96 an ounce by 0339 GMT.

Most Popular Video

Wednesday, 23 Apr 2014 | 4:57 PM ET

Weekly jobless claims and durable goods are the numbers to watch Thursday, but so are the massive amount of earnings reports expected. CNBC's Patti Domm explains.

Wednesday, 23 Apr 2014 | 4:32 PM ET

Apple is reporting Q2 EPS of $11.62 on revenue of $45.6 billion. Gene Munster, Piper Jaffray senior research analyst, says investors should feel a sense of relief on these numbers.

Wednesday, 23 Apr 2014 | 3:23 PM ET

CNBC's Becky Quick discusses Warren Buffett's feelings about the market.