Latest Business News Wires - Business Headlines




  • RIO DE JANEIRO, July 15- Brazil's sluggish economy faces substantial risk of falling into a light recession in 2014, and may already have done so, providing opposition candidates with extra ammunition in the run-up to October's presidential election.

  • *New York state manufacturing at more than four-year high. WASHINGTON, July 15- A gauge of U.S. consumer spending rose solidly in June, in the latest sign that the economy ended the second quarter on a firmer footing.

  • *BoE says UK banks have "dreadful record" of mis-selling. LONDON, July 15- The Bank of England said on Tuesday that British banks had a "dreadful record" on mis-selling complex interest rate hedging products to small businesses and warned that it would keep a close eye on them.

  • *Report backs reform of existing ECB and 4 p.m. London fixes. At the center of the investigations is activity around the 4 p.m. currency fix in London, a 60- second window where key exchange rates are set. The Financial Stability Board, based in Basel in Switzerland, said it had no access to any evidence or knowledge of any details of the investigations.

  • BUENOS AIRES, July 15- Faced with a debt default by July 30, Argentina officials will be in touch with a mediator by telephone instead of sending a mission to New York this week in its battle with holdout bondholders, an Argentine economy ministry source said on Tuesday.

  • July 15- Hewlett-Packard Co said interim Chairman Ralph Whitworth resigned from its board of directors, effective Wednesday, to focus on his health. Relational Investors said co-founder Whitworth was taking a leave of absence from the hedge fund and it wished "his family all the best at this difficult time."

  • *JPMorgan, Goldman up in premarket after earnings. NEW YORK, July 15- U.S. stocks were poised for a slightly higher open on Tuesday after earnings from JPMorgan and Goldman Sachs and ahead of testimony from U.S.

  • GAZA/ JERUSALEM, July 15- Israel resumed air strikes in the Gaza Strip on Tuesday, six hours after agreeing to an Egyptian-proposed truce that failed to halt Hamas rocket attacks. "Hamas has fired 47 rockets since we suspended our strikes in Gaza.

  • FARNBOROUGH, England, July 15- Airbus has clinched a deal with Malaysia's AirAsia for 50 A330neo jets worth at least $12 billion at list prices, making it the first airline to sign up for the newly launched wide-body jet, people familiar with the matter said. Airbus and AirAsia declined comment.

  • *Bursting of bubble wiped some $50 billion off UAE market. ABU DHABI/ DUBAI, July 15- Fifty billion dollars may be enough to trigger major changes to regulation of the Arab world's second biggest stock market.

  • *2nd qtr net income $1.46/ shr vs estimate $1.29. July 15- JPMorgan Chase& Co, the biggest U.S. bank by assets, reported an 8 percent decline in second-quarter profit as a pullback in trading of bonds and currencies by big institutions hit revenue in its securities trading business.

  • U.S. import prices barely rise in June Tuesday, 15 Jul 2014 | 8:35 AM ET

    WASHINGTON, July 15- U.S. import prices rose less than expected in June as a drop in the cost of food offset an increase in petroleum, suggesting imported inflation pressures remained benign. The Labor Department said on Tuesday import prices edged up 0.1 percent last month after increasing by a revised 0.3 percent in May.

  • July 15- Johnson& Johnson reported higher-than-expected quarterly revenue and earnings, benefiting from strong sales of its Olysio treatment for hepatitis C. Sales jumped 9.1 percent to $19.5 billion, beating Wall Street expectations of $18.99 billion.

  • WASHINGTON, July 15- U.S. retail sales increased less than expected in June as receipts at automobiles dealerships surprisingly fell, but details of Tuesday's report suggested the economy was on a solid footing at the end of the second quarter.

  • LONDON, July 15- Global investors betting on a pickup in economic growth in the second half of 2014 have driven equity overweight positions to three-year highs, a closely watched survey showed on Tuesday.

  • ASTANA, July 15- Kazakhstan's economic growth eased in the first half of this year, hit by a slowdown in key partner Russia and a drop in oil and non-ferrous metal production, the statistics agency said on Tuesday.

  • *Albermale to pay $50.65 in cash and 0.4803 in stock. July 15- Chemicals maker Albemarle Corp said it would buy rival Rockwood Holdings Inc for $6.2 billion to tap the fast-growing demand for lithium products used in mobile phone and automobile batteries. Rockwood shareholders will get $50.65 in cash and 0.4803 Albemarle shares for each share they own.

  • UPDATE 1-Higher investment gains boost Goldman profit Tuesday, 15 Jul 2014 | 8:19 AM ET

    July 15- Goldman Sachs Group Inc reported a better-than-expected 5 percent rise in second-quarter profit, driven by strong gains in equity investments and higher revenue from investment banking. The Wall Street bank earned $1.95 billion, or 4.10 per share, in the three months ended June 30, up from $1.86 billion, or $3.70 per share, in the same period a year earlier.