Latest Business News Wires - Business Headlines


  • BUENOS AIRES, July 16- Argentina is running out of time to broker a deal with "holdout" bondholder investors and stave off another painful debt default, lobbyists acting for the New York hedge funds suing the country said in a media ad on Wednesday.

  • Portuguese yields fall as market calmer about BES Wednesday, 16 Jul 2014 | 12:03 PM ET

    *Investors see limited fallout from Espirito Santo problems. LONDON, July 16- Portuguese bond yields fell on Wednesday, with investors more optimistic that the country's largest listed bank can deal with the financial troubles faced by its founding family, although uncertainty remained high.

  • Treasury Secretary Jacob Lew urged Congress on Wednesday to take steps quickly to discourage U.S. companies from moving their tax domiciles abroad to avoid federal taxes. "Congress should enact legislation immediately," Lew told a business conference in New York hosted by cable television channel CNBC.

  • *Gold fixing company launches request for proposals. LONDON, July 16- London Gold Market Fixing Ltd, the company operating the century-old global price benchmark known as the "fix", said it is seeking a third party to take over administration of the process, possibly signalling a move to an electronic platform.

  • *Three ex-GSK staff seek labour arbitration in Shanghai. BEIJING/ SHANGHAI, July 16- Three former Chinese employees of GlaxoSmithKline PLC, which is embroiled in a long-running corruption probe in China, are seeking compensation for illegal dismissal from their jobs, a lawyer representing them told Reuters.

  • *Manufacturing output rises at 6.7 percent pace in Q2. WASHINGTON, July 16- U.S. manufacturing output rose at its fastest pace in more than two years in the second quarter, suggesting the economy was regaining enough momentum to lift growth throughout the year.

  • GAZA/ JERUSALEM, July 16- Israeli shelling killed four boys on a Gaza beach on Wednesday, a local health official said, and Palestinian militants fired a further 70 rockets into Israel after a failed Egyptian attempt to halt more than a week of warfare.

  • Roche Alzheimer's drug fails main goals in mid-stage study Wednesday, 16 Jul 2014 | 11:30 AM ET

    ZURICH, July 16- Roche said its experimental Alzheimer's drug failed to meet its main goals in a mid-stage study, a result likely to bolster the belief that drugs need to be given in earlier stages of the disease to slow patients' decline.

  • July 16- Bank of America Corp said second-quarter profit fell 43 percent, a bigger decline than analysts had expected, after the bank posted $4 billion of litigation expenses linked to mortgage disputes following the financial crisis.

  • U.S. senators urge Treasury to fix money fund tax concerns Wednesday, 16 Jul 2014 | 11:28 AM ET

    In a series of three letters dated July 15 and seen by Reuters, Democratic Senators Bob Menendez of New Jersey and Mark Warner of Virginia and Republicans Pat Toomey of Pennsylvania and Mike Crapo of Idaho said the Treasury needs to issue quickly guidance because it will help inform both the public and the SEC.

  • LONDON, July 16- U.S. oil prices extended gains to over a dollar, hitting more than $101 a barrel on Wednesday after government data showed crude stocks in the world's largest oil consumer fell sharply last week.

  • *China data boosts stocks and oil outlook. NEW YORK, July 16- Stock markets around the world rose on Wednesday as strong China growth data and solid U.S. company earnings boosted sentiment and concerns eased over the strength of Portugal's largest listed lender.

  • Intel shares hit decade high on strong revenue forecast Wednesday, 16 Jul 2014 | 11:16 AM ET

    July 16- Intel Corp's shares rose as much as 7 percent to a decade-high, after the world's largest chipmaker forecast quarterly revenue above analysts' estimates on demand from companies looking to replace old PCs. The broker actions came after Intel forecast on Tuesday third-quarter revenue above the average analyst estimate.

  • July 16- Abbott Laboratories Inc reported better-than-expected quarterly earnings on Wednesday as demand for its recently-recalled infant formulas began to recover and profit margins improved for other business segments.



  • Starbucks opens in Colombia, home of Juan Valdez Wednesday, 16 Jul 2014 | 11:03 AM ET

    July 16- Starbucks Corp opened its first shop in Colombia on Wednesday, 43 years after the world's biggest coffee chain first starting buying beans from the country known for its premium arabica coffee. It and all other Starbucks stores in Colombia will be the company's first to serve only locally sourced coffee.

  • Ewald Nowotny, a member of the ECB's policymaking Governing Council, said the central bank was looking with an open mind at the possibility of buying ABS, but was not certain to go ahead.

  • *Gold steady after biggest 2- day loss since Oct, down 3.3 pct. LONDON, July 16- Gold steadied around 1,300 an ounce on Wednesday as investors found value after two days of losses, but was still trading near a four-week low on a stronger dollar and fears the Federal Reserve could raise U.S. interest rates sooner than expected.

  • Stern Advice-I am woman (investor), hear me roar Wednesday, 16 Jul 2014 | 11:01 AM ET

    NEW YORK, July 16- Is there a target on the back of my dress? Companies like Bank of America's Merrill Lynch, Prudential Financial Inc and TD Ameritrade are studying the investing behavior of women, in the hopes of winning more of our dollars.