Latest Business News Wires - Business Headlines


  • Hong Kong shares fall 1 pct on telecoms sell-off Wednesday, 23 Apr 2014 | 4:09 AM ET

    BEIJING, April 23- Hong Kong stocks fell 1 percent on Wednesday, hurt by a sell-off in telecoms shares after the mainland's biggest carrier China Mobile posted its third straight quarterly decline in profits. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong fell 1.3 percent.

  • LONDON, April 23- The Australian dollar sank almost one percent in value on Wednesday after a lower than expected rise in consumer prices appeared to reduce the chances of higher official interest rates this year.

  • PARIS, April 23- France's Safran posted a 3.3 percent rise in first-quarter revenue and confirmed its outlook for 2014 despite industry concerns over the strength of the euro, but its shares dropped amid worries over the key services market.

  • April 23- Flash storage company Pure Storage Inc raised $225 million in a late-stage funding round, valuing the company at about $3 billion, technology news site Re/code reported.

  • POLL-EURO ZONE PRIVATE SECTOR ON STRONG FOOTING BUT STILL. LONDON, April 23- The euro zone's private sector has started the second quarter on its strongest footing in nearly three years, but burgeoning new orders were again mainly buoyed by firms cutting prices, surveys showed on Wednesday.

  • *WH Group seeks up to $1.9 billion in revised IPO. HONG KONG, April 23- WH Group Ltd, the world's biggest pork company, has cut its Hong Kong IPO by two thirds as market volatility and rich valuations turned investors off the deal, a revised term sheet seen by Reuters showed on Wednesday.

  • TOKYO, April 23- Sumitomo Life Insurance, Japan's fourth largest life insurance company, plans to shift some of its funds into foreign bonds from long-term domestic bonds, as bond yields in Japan are too low, a senior company official said on Wednesday.

  • CAIRO, April 23- Egypt needs to find at least $5 billion to invest in its dilapidated power grid, a government official told Reuters, highlighting a major challenge for the next president as the country faces the risk of worsening blackouts this summer.

  • Ericsson leads Europe shares lower with focus on PMIs Wednesday, 23 Apr 2014 | 3:12 AM ET

    LONDON, April 23- European shares edged lower on Wednesday after strong gains in the previous session, pegged back following an earnings miss from Ericsson and weaker-than-expected French data. France's CAC 40 index underperformed, down 0.2 percent, after PMI data for the country showed waning momentum in its fragile economic recovery.

  • China shares close down on weak manufacturing data, IPOs Wednesday, 23 Apr 2014 | 3:05 AM ET

    BEIJING, April 23- China shares fell on Wednesday, with sentiment bogged down by a preliminary survey showing Chinese manufacturing activity contracted for a fourth straight month in April.

  • SHENZHEN, China, April 23- China's Huawei Technologies Co Ltd, the world's No.2 telecoms equipment maker, on Wednesday shrugged off analysts' concerns that its growth will suffer from media reports alleging the United States accessed servers at its Shenzhen headquarters.

  • HONG KONG, April 23- WH Group Ltd has cut the number of shares in its Hong Kong initial public offering, reducing the size of the deal to up to $1.88 billion from the $5.3 billion originally planned, according to a term sheet seen by Reuters on Wednesday. The price range of HK $8.00 to HK $11.25 per share remains unchanged.

  • STOCKHOLM, April 23- Mobile telecom equipment maker Ericsson expects recent business wins to lift sales later this year, after missing first-quarter sales and profit forecasts due to continued weak demand in North America and Japan.

  • *Luanda offers contrasts of conspicuous wealth and poverty. LUANDA, April 23- In Luanda's Jumbo supermarket, a half-litre tub of imported vanilla ice-cream used to cost $25, testament to the Angolan capital's rank as one of the world's most expensive cities.

  • SINGAPORE, April 23- Brent futures held above $109 a barrel on Wednesday with the global demand growth outlook largely unchanged after a Chinese manufacturing survey showed an easing pace of decline, while the unfolding Ukraine crisis kept any losses in check.

  • *Yuan may test 6.25/ dollar if midpoint fixed weaker again. SHANGHAI, April 23- China's yuan hit a 16- month low against the dollar on Wednesday as companies bought dollars to hedge long yuan positions, amid intensified market anticipation that the yuan's recent weakness will last longer than previously expected.

  • *China Mobile shares down on weak Q1 results. BEIJING, April 23- Hong Kong shares eased on Wednesday, hurt by a sell-off in telecoms shares after the mainland's biggest carrier China Mobile posted its third straight quarterly decline in profits.

  • LOS ANGELES, April 22- A U.S. congressman from a Los Angeles community is seeking to lure the factory that makes the bestselling Sriracha-brand hot pepper sauce to his district after residents in its current location complained about the smell.

  • *Crude stocks drop on lower imports. BEIJING, April 23- China's commercial crude oil. China's crude oil imports in March fell to a five-month low of 5.54 million barrels per day, official data has shown, after three months of high inbound shipments and gains in fuel product inventories.

  • SINGAPORE, April 23- The Australian dollar slid on Wednesday after data showed that Australian consumer prices rose less than expected in the first quarter, lessening the risk of a rise in domestic interest rates this year. Other major currencies were subdued, with the euro edging up 0.1 percent to around $1.3817, while the dollar eased 0.1 percent to 102.55 yen.