Latest Business News Wires - Business Headlines


  • U.S. import prices rise marginally in May Thursday, 12 Jun 2014 | 8:30 AM ET

    WASHINGTON, June 12- U.S. import prices rose marginally in May as the cost of petroleum rebounded, but the trend continued to point to subdued imported inflation pressures. The Labor Department said on Thursday import prices edged up 0.1 percent last month after falling 0.5 percent in April.

  • WASHINGTON, June 12- The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but not enough to change views the labor market was strengthening. Initial claims for state unemployment benefits climbed 4,000 to a seasonally adjusted 317,000 for the week ended June 7, the Labor Department said on Thursday.

  • ZURICH/ LONDON June 12- UBS shares fell on Thursday following a research report which said the Swiss bank could have to pay $8 billion in fines and settlements relating to alleged collusion and price-manipulation in the global currency market.

  • *Spain swaps expensive crisis bonds for new issue. LONDON, June 12- Spain took steps to ease hefty bond repayments coming due next year by switching expensive debt issued at the height of the euro zone crisis for a new 10- year bond on Thursday.

  • LONDON/ DUBAI, June 12- Shelf Drilling plans to raise at least $500 million in an initial public offering on the London Stock Exchange, joining other Gulf-based oil services firms seeking a listing on the bourse.

  • June 12- Geron Corp said the U.S. Food and Drug Administration lifted a partial clinical hold on a study testing its drug for myelofibrosis, a type of blood cancer, sending its shares soaring about 31 percent in premarket trading. Patient enrollment in the trial, sponsored by Mayo Clinic, was halted in March over concerns of liver toxicity.

  • *Brent hits 3- month high over $112 on Iraq supply worries. LONDON, June 12- Brent crude oil climbed towards $112 a barrel on Thursday on worries that escalating violence in Iraq could disrupt oil supplies from the major OPEC exporter.

  • US STOCKS-Futures flat ahead of retail sales data Thursday, 12 Jun 2014 | 7:39 AM ET

    *Geron rallies in premarket after FDA move. NEW YORK, June 12- U.S. stock index futures were flat on Thursday as investors looked ahead to data on retail sales and the labor market, taking a pause after the S&P 500' s biggest one-day drop in three weeks. *There could be catalysts at 8:30 a.m., with the release of retail sales and jobless claims data.

  • June 12- Vishal Sikka is the first outsider to take the helm at Bangalore- based Infosys, India's second biggest IT services exporter. *Sikka was the first Chief Technology Officer at German business software maker SAP AG. He was also a member of the Executive Board of SAP AG, leading all products and driving innovation globally until he left the company in May.

  • MUMBAI, June 12- Infosys Ltd, India's second-largest IT services exporter, has for the first time picked an outsider as chief executive officer, as it seeks to boost sales of high-margin services like cloud computing and stem a staff exodus.

  • METALS-Nickel loses more ground, copper spread tightens Thursday, 12 Jun 2014 | 7:36 AM ET

    Copper steadied after its recent decline and a benchmark spread tightened as worries about a Chinese investigation into metals financing eased. Three-month nickel on the London Metal Exchange hit a session low of $18,121 a tonne, the weakest since May 15, before paring losses to $18,189 by 1041 GMT, a decline of 0.63 percent.

  • *Iliad, Bouygues up on sector consolidation hopes. However, Iliad rose 6.3 percent, the biggest gainer on the FTSEurofirst 300, and Bouygues advanced 4 percent on expectations of further consolidation in France's telecom sector.

  • Peugeot's domestic revamp begins in Mulhouse Thursday, 12 Jun 2014 | 7:01 AM ET

    PARIS, June 12- PSA Peugeot Citroen said on Thursday it would invest 300 million euros to revamp and shrink its Mulhouse plant in eastern France, as the French carmaker begins work on a recovery plan under new Chief Executive Carlos Tavares.

  • If the court rules in favor of Halliburton and against a group of shareholders, then the oilfield services company won't be the only business to gain.

  • FRANKFURT, June 12- IK Investment Partners has sold a majority stake in German industrial fire protection systems maker Minimax Viking in a deal that values the group at $1.9 billion, two people close to the transaction said on Thursday.

  • *May new loans 870.8 bln yuan, vs f'cast 750 billion yuan. BEIJING, June 12- China's new bank lending and money supply rose faster than expected in May, as the government ramps up policy stimulus measures to energise a slowing economy.

  • BEIJING, June 12- Chinese state-run oil trader Zhuhai Zhenrong Corp has entered a one-year supply agreement to buy Iranian South Pars condensate, in its first term contract for the light crude oil with the Middle East supplier, according to industry officials.

  • VIENNA, June 12- Iraq's biggest oil refinery at Baiji remained under government control on Thursday after Sunni rebels' offensive through northern Iraq, Iraqi Oil Minister Abdul Kareem Luaibi said. Luaibi said Iraq was not importing any additional fuel and that stored supplies of gasoline and diesel were good.

  • LONDON, June 12- Johnson& Johnson has linked up with ViiV Healthcare- a specialist HIV company majority-owned by GlaxoSmithKline- to develop a new AIDS medicine combining two drugs in a single tablet.

  • *Palladium vulnerable to profit-taking after rally. LONDON, June 12- Palladium firmed just below a 13-1/ 2 year high on Thursday as a five-month strike in No.2 producer South Africa showed no signs of ending and triggered buying from industrial users and investors.