Latest Business News Wires - Business Headlines


  • *Ukraine peace deal falters as rebels dig in. LONDON, April 22- Brent futures slipped below $110 a barrel on Tuesday but held near a six-week high as a pact to calm tensions in Ukraine faltered, while rising U.S. crude stockpiles weighed on prices.

  • *Novartis to buy GSK's oncology assets for $14.5 bln. *Lilly to buy Novartis' animal health arm for $5.4 bln.

  • April 22- Diversified Canadian miner Teck Resources Ltd said it would defer the reopening of its Quintette coal mine in British Columbia and cut 600 jobs, or 5 percent of its global workforce, after a 78.4 percent fall first-quarter net profit.

  • *Q1 hit by weaker Russia, China, currency effects. FRANKFURT, April 22- Philips warned on Tuesday it would struggle to post a rise in operating profit for 2014 after slowing demand in China and Russia, combined with the impact of a strong euro, wiped out its first-quarter sales growth.

  • HONG KONG, April 22- WH Group Ltd, the world's biggest pork company, is slashing its proposed Hong Kong IPO and will delay the pricing of the deal to next week, sources said on Tuesday, a move that could see the Chinese company garner less than $2 billion.

  • FOREX-Euro subdued near two-week lows, wary of ECB Tuesday, 22 Apr 2014 | 4:25 AM ET

    LONDON, April 22- The euro hovered near a two-week low against the dollar on Tuesday and fell against the yen, as expectations the ECB will try to halt any further strengthening kept investors away from the single currency. European Central Bank President Mario Draghi is scheduled to give a keynote speech in Amsterdam on Thursday.

  • LONDON, April 22- M&A talk in the pharmaceutical sector lifted European shares on Tuesday, but failed to support the euro, which held at a two week low against the dollar on rising expectations of further policy easing by the European Central Bank.

  • BEIJING, April 22- Hong Kong shares edged lower on Tuesday, dragged down by losses in China Resources Power after Chinese authorities said they were probing the head of its parent group for corruption. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong ended down 0.5 percent.

  • M&A in pharma helps European stocks extend rally Tuesday, 22 Apr 2014 | 4:02 AM ET

    *FTSEurofirst 300 up 0.9 pct, Euro STOXX 50 up 0.7 pct. *AstraZeneca jumps 7.4 pct on M&A talk. The euro zone's blue-chip Euro STOXX 50 index added 0.7 percent, to 3,175.96 points.

  • *China nickel ore imports from Indonesia down sharply. SINGAPORE, April 22- Nickel futures hit their highest in more than 14 months on Tuesday as an Indonesian ban on mineral ore exports kept supplies tight, with tensions in Ukraine also posing a risk to flows from key producer Russia.

  • *Gold recovers after earlier falling 0.3 pct. SINGAPORE, April 22- Gold recovered from early losses on Tuesday as the dollar gave back some gains, but sentiment among investors continued to be fragile on further outflows from bullion-backed funds.

  • BEIJING, April 22- China shares closed up 0.3 percent on Tuesday, as strong performances from free trade zone firms helped the index turnaround from being in the red for most of the day on the news that 18 additional companies had gained listing approval. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 0.4 percent.

  • SHANGHAI, April 22- China's yuan traded at its weakest against the dollar in 14 months on Tuesday, as traders say what began as a short-term attack on rampant speculation in the market continues to find deeper market traction.

  • European shares rise early, Astra surges on M&A talk Tuesday, 22 Apr 2014 | 3:13 AM ET

    PARIS, April 22- European shares rose in early trade on Tuesday, adding to last week's rally, with AstraZeneca's stock surging on merger and acquisition talk. Shares in the UK drugmaker jumped 7.8 percent after Britain's Sunday Times reported that U.S. pharmaceutical giant Pfizer has approached its British rival to propose a 60 billion pound takeover.

  • HONG KONG, April 22- China's WH Group Ltd, the world's biggest pork company, is slashing its proposed Hong Kong initial public offering and delaying pricing of the deal to next week due to lack of demand, IFR reported on Tuesday, citing sources close to the company. WH Group declined to comment on the report.

  • MADRID, April 22- Carmen Collado has laundered hospital linen in Madrid for 11 years. But her employment does her, and Spain, few favours in the long term.

  • *Philips Q1 EBITA 314 mln euros vs Rtrs poll avg 341 mln. *Q1 hit by weaker Russia, China, currency effects. FRANKFURT, April 22- Philips reported a bigger-than-expected fall in quarterly operating profit and warned of a challenging 2014 owing to unfavourable exchange rates and slowing demand for medical equipment in China and Russia.

  • BEIJING, April 22- Multinational firms are planning to invest less in China because of market access barriers and slowing growth in the world's second-largest economy, a U.S. business lobby said on Tuesday.

  • China's yuan hits 14-month low, down 3 pct this year Tuesday, 22 Apr 2014 | 2:34 AM ET

    SHANGHAI, April 22- China's yuan traded at its weakest against the dollar in 14 months on Tuesday, after the central bank set a weaker official midpoint and traders say demand for dollars is on the rise. Spot yuan traded at 6.2383 per dollar in the afternoon, its lowest level since February 2013.

  • ZURICH, April 22- Swiss drugmaker Novartis is transforming its business by exchanging certain assets with GlaxoSmithKline and divesting its animal health business to Eli Lilly in deals worth billions of dollars. Novartis said it had agreed to acquire GSK's oncology products for a $14.5 billion payment.