Latest Business News Wires - Business Headlines


  • FRANKFURT, June 22- The chief executive of Siemens said on Sunday the German engineering group was ready to resume negotiations with Alstom and the French state should they fail to agree terms with the French firm's suitor, General Electric.

  • DUBAI, June 22- Shares in Omani power firms Al Suwadi Power Co and Al Batinah Power Co will begin trading on Monday after their initial public offerings were both multiple-times oversubscribed by investors. Al Batinah Power Co's offering of 236 million shares at 0.128 rials each was aimed at generating 30.21 million rials, and was covered 5.56- times.

  • MUSCAT/ DUBAI, June 22- Oman has scrapped price controls for all but 23 basic products, prompting rare public criticism of government policy, after companies demanded freer markets. Under rules dating back to 2011, retailers and traders needed to ask the Public Authority for Consumer Protection for approval to raise the prices of all goods.

  • More than a million Honda Motor Co Ltd vehicles could be subject to an upcoming recall for Takata air bags that are at risk of exploding and shooting shrapnel at passengers and drivers, according to a person with knowledge of the matter.

  • Daimler will set up production capacity at a plant operated by its alliance partner Nissan in Aguascalientes northeast of Guadalajara, the magazine cited unnamed company executives as saying. Daimler and Nissan declined to comment.

  • TRIPOLI, June 22- Libya's eastern Hariga oil port has reopened and received a first tanker loading oil, a spokesman for state-owned National Oil Corp said on Sunday after the government paid salaries of protesting state security guards at the terminal.

  • Russia's President Vladimir Putin and Cristina Stenbeck

    Cristina Stenbeck sounds more like a Silicon Valley entrepreneur than the head of one of Sweden's most venerable family-controlled investment groups

  • STOCKHOLM, June 22- Swedish-American heiress Cristina Stenbeck's bet on the red-hot e-commerce business has caught the eye of investors, although doubters question the future of her Kinnevik group in a sector where new players emerge almost every day.

  • TRIPOLI, June 22- Libya's eastern Hariga oil port has reopened after a protest by security guards ended there, receiving the first tanker loading 750,000 barrels of oil, a spokesman for state-owned National Oil Corp said on Sunday.



  • CAIRO/ DUBAI, June 22- Saudi Arabia's Almarai, the Gulf's biggest dairy company, and U.S. soft drinks giant PepsiCo will invest at least $345 million in Egypt over the next five years, the Saudi firm said on Sunday.

  • *Sweden faces challenges of household debt, house price rises. STOCKHOLM, June 22- When Sweden's leftist opposition leader, a former welder, visited a disused factory in an old industrial town on his campaign trail, it was not to lament a bygone era but to tour new luxury apartments selling at around $6,000 a square metre.

  • SPIELBERG, Austria, June 22- The European Central Bank is unlikely to raise interest rates from record lows until 2016 when the euro zone economy starts to pick up more strongly, ECB Governing Council member Ewald Nowotny said in a newspaper interview.

  • BRUSSELS, June 22- Iraq will be foremost in investors' minds in the coming week as oil price risk has returned to markets, complicating the task for central banks whose policies are beginning to diverge for the first time since the global financial crisis.

  • DUNDEE, Scotland, June 22- Gordon Brown, once ranked Britain's most unpopular prime minister in half a century, may yet emerge as the man who convinces Scots to reject independence. But in the industrial towns of Scotland where the fate of the United Kingdom will be set by 1 million as yet undecided voters in a Sept. 18 referendum, few rival Brown's influence.

  • Peugeot recovery hangs on frugal Citroen revamp Sunday, 22 Jun 2014 | 4:00 AM ET

    *Production mostly in east Europe, Spain for lower price points. It's a manifesto on wheels for the brand's move down-market as parent PSA Peugeot Citroen struggles to return to profit. That frees Citroen to hone its funky-but-frugal image while stablemate Peugeot tackles mid-market Volkswagen head-on.

  • MARSEILLE, France, June 22- Veolia Environnement, a global leader in water and waste management, has a little local difficulty: an ailing France- Corsica ferry operator that weighs on its shares, gives its CEO nightmares and puts the brakes on its strategic plans.

  • The 2nd U.S. Circuit Court of Appeals ruled on Wednesday that Argentina could not continue to pay creditors who agreed to restructure their bonds after its 2001-02 default on $100 billion in debt unless it also paid $1.33 billion to the holdouts demanding full payment.

  • WASHINGTON, June 21- On a Friday afternoon in March, Jose Luis Zamora pulled into a Lexus dealership in Dallas to test-drive a new car with his wife. A routine credit check matched him to Jose Hernan Zamora, a Colombian who is no relation to the Texas resident and was added to the Treasury Department's sanctions list around 1997 for his ties to narcotics traffickers.