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Latest Business News Wires - Business Headlines

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  • June 10- U.S. electronics retailer RadioShack Corp reported a bigger quarterly loss, hurt by higher promotions in its smart phones and tablets business and weak sales of consumer electronics. The company's net loss widened to $98.3 million, or 97 cents per share, in the first quarter ended May 3 from $28.0 million, or 28 cents per share, a year earlier.

  • BRUSSELS, June 10- The European Commission delivered a formal warning to the Philippines and Papua New Guinea on Tuesday over illegal fishing, a step that could lead to a ban on exporting to the European Union, the world's biggest fish importer.

  • LONDON, June 10- For decades, India's power engineers had a dream: "One Nation. India finally has a nationwide power system stretching from Tamil Nadu in the south to Kashmir in the north, Gujarat in the west to Nagaland in the east. The whole of India's electricity system was synchronised and started to function as one giant machine.

  • June 10- As U.S. lawsuits seeking gay-marriage rights move toward a likely showdown at the Supreme Court next year, major law firms are rushing to get involved- but only on the side of the proponents.

  • Dutch economy to grow but underperform -central bank Tuesday, 10 Jun 2014 | 7:00 AM ET

    AMSTERDAM, June 10- The Dutch economy will continue to recover but underperform trend growth levels in 2015 and 2016 as a dip in natural gas production persists, the central bank said in a semi-annual forecast published on Tuesday.

  • June 10- B/E Aerospace Inc, an aircraft seat maker and parts distributor, said it would split into two independent, publicly traded companies, as part of an ongoing strategic review of the company.

  • Russian gas keeps flowing as debt deadline passes Tuesday, 10 Jun 2014 | 6:56 AM ET

    Natural gas supplies to Ukraine and the European Union were stable on Tuesday after a Russian deadline passed for Kiev to pay off some of its debts.

  • *StanChart says not pulling out of China commod financing. LONDON, June 10- Copper dropped to a one-month low on Tuesday as an investigation into metal financing in China prompted concern that a crackdown could hit trade in the metal, while aluminum and zinc retreated from multi-month highs as traders cashed in on recent gains.

  • SHANGHAI, June 10- China's Qingdao Port Authority and the city's police are investigating a private metals trading firm, Decheng Mining, over a suspected metal financing scam at the port, two police sources with direct knowledge of the matter said.

  • UPDATE 1-Metlife to buy back up to $1 billion shares Tuesday, 10 Jun 2014 | 6:47 AM ET

    June 10- Insurer Metlife Inc said it would buy back up to $1 billion of its common stock, using existing authorizations from its board. Kandarian had said in July that Metlife is not a systemically important financial institution whose failure could pose a threat to United States' financial stability.

  • *Bank of Ireland shares down 3.2 percent. LONDON/ DUBLIN, June 10- U.S. billionaire Wilbur Ross sold his entire shareholding in Bank of Ireland for almost half a billion euros on Tuesday, to almost triple the value of a shrewd investment made at the height of the euro zone crisis.

  • *Gold muted around $1,250/ oz on firmer dollar. LONDON, June 10- Platinum's rise extended into a fifth session on Tuesday as talks to resolve a five-month strike in top producer South Africa broke down, while gold inched up despite a firmer dollar which weighed.

  • Metlife to buy back up to $1 billion shares Tuesday, 10 Jun 2014 | 6:29 AM ET

    June 10- Insurer Metlife Inc said it would buy back up to $1 billion of its common stock. The company said it will use existing authorizations from its board for the share repurchase. Metlife last bought back its shares in 2008. The company has 1.13 billion shares outstanding, valued at $61.52 billion, according to Thomson Reuters data.

  • BlackRock expands low-cost 'Core' series with 10 ETFs Tuesday, 10 Jun 2014 | 6:15 AM ET

    NEW YORK, June 10- BlackRock Inc, the largest U.S. provider of exchange-traded funds, is expanding its lineup of low-cost ETFs with 10 equity and fixed-income funds that focus on areas such as dividend growth and value, and add exposures such as European and Pacific region stocks.

  • LONDON, June 10- The South African rand fell 0.7 percent on Tuesday versus the dollar, lagging emerging peers as a stubborn economic downturn looks set to deepen while broader emerging equities extended gains to one-year highs.

  • June 10- B/E Aerospace Inc, an aircraft seat maker and parts distributor, said it was splitting into two independent, publicly traded companies.

  • *Fast Retailing built up its empire during Japan's deflationary years. TOKYO, June 10- Fast Retailing Co's Uniqlo, Japan's biggest clothing store chain, will lift prices in its home market from next month- one of the most symbolic signs yet that the country is making strides in its battle to end 15 years of chronic deflation.

  • *Libya arrives for OPEC meet with exports at a trickle. LONDON, June 10- Brent crude steadied around $110 a barrel on Tuesday, supported by tight supply and hopes of healthy demand growth from the world's top two oil consumers, the United States and China.

  • *Logista value could be circa 1.1 bln stg- analyst. LONDON, June 10- Imperial Tobacco Group plans to list its European logistics division Logista on the Spanish stock market, the British company said on Tuesday.

  • KUALA LUMPUR, June 10- Malaysia will unwrap plans to restructure loss-making Malaysian Airlines within six to 12 months, a state investor said, as a slump in business since the disappearance of Flight MH370 leaves the carrier set to exhaust its cash reserves by mid-2015.