Latest Business News Wires - Business Headlines


  • March 13- J.C. Penney Co Inc is about to undo the centerpiece of former Chief Executive Officer Ron Johnson's failed vision to take the retailer upmarket. The retailer wants to recapture former clients and go head to head with rivals like Target Corp and Kohl's Corp..

  • Treasury debt, much of it offshore, earning them tax-free interest, the UK's Bureau of Investigative Journalism said on Thursday. The finding means Apple Inc, Microsoft Corp, Google Inc and Cisco Systems Inc hold a large proportion of the $254.9 billion held in their foreign subsidiaries in U.S.

  • BEIJING, March 13- China will continue to support Hong Kong's position as a global financial hub, Chinese Premier Li Keqiang said on Thursday, reassuring the investment community in the former British colony as it adjusts to the rise of Shanghai. Li made the remarks to reporters at the closing of the country's annual parliamentary session on Thursday.

  • *Vietnam, Malaysia send planes to check latest report of debris sighting. At the same time, China heaped pressure on Malaysia to improve its coordination over the search for the Malaysia Airlines plane, which disappeared early on Saturday on a flight from Kuala Lumpur to Beijing.

  • *Concerns over Ukraine, China slowdown and copper rout sap risk appetite. *China retail sales, industrial output and fixed investment data immediate focus.

  • World Bank panel rejects Venezuela's appeal over Conoco Wednesday, 12 Mar 2014 | 11:08 PM ET

    CARACAS, March 12- A World Bank panel has rejected Venezuela's request for a new hearing to contest a 2013 partial ruling that it failed to act in good faith regarding negotiations to compensate U.S. oil company ConocoPhillips for expropriations. It also limited the scope of ConocoPhillips' claims by excluding future tax credits.

  • FOREX-Safe-haven yen, franc in favour, Antipodeans surge Wednesday, 12 Mar 2014 | 11:04 PM ET

    *Yen and Swiss well bid as China, Ukraine worries fester. *China industrial production and retail sales data eyed. SYDNEY/ TOKYO, March 13- Safe-haven currencies the yen and Swiss franc were in favour on Thursday, consolidating their overnight gains as worries about the health of the Chinese economy and the ongoing crisis in Ukraine took a toll on risk appetite.

  • HIGHLIGHTS-Comments from Chinese Premier Li Keqiang Wednesday, 12 Mar 2014 | 10:54 PM ET

    BEIJING, March 13- Following are comments from China's Premier Li Keqiang at his news conference on the final day of China's yearly meeting of parliament:. "This is an international and large-scale search operation involving many countries.

  • MELBOURNE, March 13- Origin Energy, in charge of coal seam gas drilling for the Australia Pacific liquefied natural gas project, said on Thursday it had stopped work at 12 sites in Queensland state as asbestos had been found in drilling fluids it was using.

  • Brent firms above $108 on supply risks, demand outlook Wednesday, 12 Mar 2014 | 10:25 PM ET

    *Asian shares on defensive as China fears rattle commodities. SINGAPORE, March 13- Brent futures inched higher on Thursday, holding above $108 a barrel, as investors focused on risks from the unfolding crisis in Ukraine and as OPEC raised its 2014 global oil demand growth forecast for a second straight month.

  • WELLINGTON, March 13- New Zealand's central bank raised interest rates on Thursday and signalled an aggressive tightening this year, taking the lead among developed economies in lifting rates off record lows as it tries to quell inflation pressures in an outperforming economy.

  • MELBOURNE, March 13- Origin Energy, in charge of coal seam gas drilling for the Australia Pacific liquefied natural gas project, said on Thursday it had stopped work at 12 sites in Queensland state as asbestos had been found in drilling fluids it was using.

  • TOKYO, March 13- Japan's Nikkei share average edged up on Thursday morning after falling to a one-week low on the previous day as strong machinery data supported sentiment as far as metal shares, which remained pressured on persistent concern about Chinese demand.

  • *U.S. Senate announces its own probe of GM, NHTSA over recall. *Senate, House say criminal investigation could complicate their probes.

  • March 12- The Federal Reserve Bank of New York looked at whether a key foreign-exchange benchmark was subject to manipulation in 2012 but did not pursue any public action, the Wall Street Journal reported, citing people familiar with the matter.

  • *Bank of Korea seen raising rates from late 2014. SEOUL, March 13- South Korea's central bank kept interest rates steady for a 10th straight month on Thursday, as expected, as it eyes offshore risks and a slow domestic economic recovery amid low inflationary pressures.

  • METALS-Copper futures off multi-year lows; tone cautious Wednesday, 12 Mar 2014 | 9:34 PM ET

    SINGAPORE, March 13- Shanghai and London copper futures regained strength on Thursday after plunging to multi-year lows in the previous session but concerns about China's economic slowdown could cap gains as investors await a fresh batch of data.

  • LIMA, March 12- Peru is talking with Brazilian construction giant OAS about resuming construction on a $4 billion hydroelectric plant that has been stalled since 2011 because of local opposition, an official said on Wednesday. An OAS representative in Peru said by telephone that the company did not have any comment.

  • WASHINGTON, March 12- The United States and Japan made some progress on resolving a deadlock over tariffs on farm and industrial exports which is dragging on a wider Pacific trade deal, a senior Japanese official said on Wednesday.

  • BEIJING, March 13- China's civil aviation chief said on Thursday that there was no proof that floating objects in the South China Sea seen by satellite images were connected to a missing Malaysia Airlines aircraft. "Chinese satellites have found smoke and floating objects...