Latest Business News Wires - Business Headlines


  • Nov 20- Marlboro cigarettes maker Philip Morris International Inc raised its full-year profit forecast, citing a lower impact from unfavorable exchange rates, and said it would enter the e-cigarette business in the second half of 2014.. Analysts on average were expecting Philip Morris to earn $5.39 per share, according to Thomson Reuters I/B/E/S.

  • FRANKFURT, Nov 20- The European Central Bank is considering making banks pay to deposit cash with it overnight, news agency Bloomberg said on Wednesday, citing unnamed sources. Bloomberg said that were the ECB to decide to take the deposit rate into negative territory from the current level of zero, it would consider an interest rate of -0.1 percent.

  • Retailers from Macy's Inc to Wal-Mart Stores Inc to Best Buy Co Inc are responding with massive discounts even at the risk of profit margin declines.

  • WASHINGTON, Nov 20- President Barack Obama's nominee to serve as deputy U.S. "A one-size-fits-all approach is not going to work here," Sarah Bloom Raskin told the Senate Finance Committee during her confirmation hearing.

  • *Major powers, Iran start nuclear talks. NEW YORK, Nov 20- Brent oil rose by more than $1 a barrel on Wednesday after U.S. oil inventories increased less than expected last week and in reaction to an increase in demand for distillates. Optimism about nuclear talks with Iran kept prices in check.

  • WASHINGTON, Nov 20- A bipartisan group of U.S. House and Senate members is seeking to make it easier for investment fraud victims to seek compensation, after investors in Allen Stanford's Ponzi scheme were deemed ineligible under current law to file claims.

  • *J.C. Penney shares jump after results. NEW YORK, Nov 20- U.S. stocks rose on Wednesday after an economic report showed the annual inflation rate remains subdued, giving the Federal Reserve room to keep its stimulus measures in place.

  • Retailers from Macy's Inc to Wal-Mart Stores Inc to Best Buy Co Inc are responding with massive discounts even at the risk of profit margin declines.

  • *ECB considering negative deposit rates- Bloomberg. Bloomberg reported that if the ECB decides to take the deposit rate for cash it holds overnight for banks into negative territory, the rate would fall to -0.1 percent.

  • *Mubadala Aerospace eyes acquisition in U.S. Mubadala Aerospace won industrial orders worth over $5 billion at the air show this week to sell parts and materials to planemakers Boeing and Airbus. Mubadala Aerospace, which already builds lightweight parts for Boeing and Airbus, plans to expand its manufacturing operations and also acquire other businesses.

  • Nov 20- J.M. Smucker Co, the maker of Folgers coffee and Jif peanut butter, reported weaker-than-expected quarterly revenue as lower commodity costs and product selling prices failed to translate into sales growth. A K-cup is a plastic pod that Green Mountain Coffee Roasters Inc licenses to coffee and beverage makers.

  • Nov 20- Broadcaster Gray Television Inc and Excalibur Broadcasting LLC said they would buy 20 stations from Hoak Media LLC and Parker Broadcasting Inc for $335 million in cash, sending Gray's shares up as much as 19 percent.

  • WASHINGTON, Nov 20- Janet Yellen's bid to lead the Federal Reserve won a significant boost on Wednesday when one of her biggest critics in the U.S. Senate said he had decided to support her nomination. Corker is a member of the Senate Banking Committee, which will vote on Thursday on whether to send Yellen's nomination to the full Senate.

  • *Buybacks' tailwind may be slowing. NEW YORK, Nov 20- With just over a month remaining in a year that has seen the S&P 500 rocket to new records, one of the rally's drivers could have peaked: stock buybacks. In the last few years, major U.S. companies, including IBM, Apple and Exxon Mobil have dramatically boosted share repurchases.

  • EU refiners burn last barrels as closures loom Wednesday, 20 Nov 2013 | 12:03 PM ET

    *Refinery margins hit as Middle East unrest raises crude prices. Middle East unrest means the price of crude oil, which refiners convert into motor and heating fuel, has remained stubbornly high this year, squeezing profit margins amid weak demand as European economies struggle to maintain growth.

  • NEW YORK, Nov 20- One of the first things you usually do when meeting a new financial adviser is to answer a series of questions to determine how much risk you can stomach. The same thing happens when you sign up for one of the new online investing advice platforms such as SigFig, Personal Capital and FutureAdvisor, which have risen up in the last two years.

  • WASHINGTON, Nov 20- Recent U.S. economic data is looking better and a solid jobs report for November would increase the likelihood that the Federal Reserve would start to scale back bond buying at its meeting next month, a senior Fed official said on Wednesday.

  • The FDA said heart attacks may be triggered by the tests because the chemicals dilate the heart's arteries and increase blood flow to help identify obstructions. The FDA advised physicians not to use the products in patients with signs of acute myocardial ischemia, which occurs when blood flow to the heart muscle is decreased.

  • *Gold, platinum hit 1- month lows, silver 3- month low. NEW YORK/ LONDON, Nov 20- Gold fell around 1 percent on Wednesday, as unusually large trades in the New York futures market set the tone for lower prices ahead of the release of minutes of the Federal Reserve's last policy meeting later in the day.

  • WARSAW, Nov 20- Rich and poor were deadlocked on Wednesday over how to raise aid to help developing countries cope with the damaging effects of global warming, in a setback at United Nations climate talks in Warsaw seeking progress towards a 2015 accord.

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