Latest Business News Wires - Business Headlines


  • Ex-Investec traders lose $10 mln London bonus battle Wednesday, 6 Aug 2014 | 8:25 AM ET

    LONDON, Aug 6- Two former Investec traders on Wednesday lost a three-year, 6 million pound battle over disputed bonuses in a case described by a London High Court judge as "fanciful" and "wholly incredible".

  • Cubist Pharma recalls some vials of antibiotic Cubicin Wednesday, 6 Aug 2014 | 8:24 AM ET

    Aug 6- Cubist Pharmaceuticals Inc said it recalled some vials of its antibiotic Cubicin due to the potential presence of glass particles. Cubist said no adverse events had been reported so far. It did not reveal how many lots were affected, but said the issue was limited to one of its suppliers.

  • Aug 6- Viacom Inc, the owner of cable networks MTV and Comedy Central and movie studio Paramount Pictures, posted lower-than-expected quarterly revenue as it released fewer movies in the second quarter.

  • Aug 6- Tim Hortons Inc, Canada's biggest coffee and doughnut chain, posted a bigger-than-expected rise in quarterly profit and said full-year profit may top its own forecast as customers spent more on every visit. Net income attributable to Tim Hortons was flat at C $123.8 million in the second quarter ended June 29.

  • Aug 6- Digital media and entertainment company AOL Inc reported better-than-expected quarterly revenue, helped by a 60 percent jump in advertising revenue in its third-party platform. AOL, whose shares were up nearly 4 percent in premarket trading, also said it approved a $150 million share buyback program.

  • Aug 6- Coal miner Alpha Natural Resources Inc reported a slightly bigger adjusted net loss for the second quarter as coal prices remained weak. Alpha Natural is also being hurt by poor rail service in Wyoming's Powder River Basin, which is preventing the company from cashing in on an uptick in demand for electricity-generating coal.

  • LONDON, Aug 6- Standard Chartered Plc has warned it faces another fine from New York's financial regulator for problems related to detecting transactions vulnerable to money laundering, piling more pressure on the Asia- focused bank and its bosses.

  • Aug 6- Chesapeake Energy Corp, the second-largest U.S. producer of natural gas, on Wednesday reported a lower-than-expected quarterly profit, hurt by a loss on the repurchase of debt and lower prices for natural gas liquids.

  • Aug 6- Auto parts maker Visteon Corp reported an 11 percent rise in quarterly revenue and raised its full-year profit forecast as higher vehicle production boosts. The company raised its full-year earnings forecast to $2.98- $3.62 per share from $2.21- $3.09.

  • *HKEx shares up 35 pct in 2014 on Shanghai stock connection. HONG KONG, Aug 6- Hong Kong Exchanges& Clearing Ltd will raise fees on the London Metal Exchange from Jan. 1 2015, HKEx said on Wednesday, as it battles costs from its acquisition of the LME and absorbs the London exchange's rising legal expenses.

  • *NATO says Russia could be readying Ukraine invasion. NEW YORK, Aug 6- U.S. stock index futures fell on Wednesday, with S&P e-minis at a more than two-month low, on worries of an escalation of the conflict in Ukraine and as key merger and acquisition deals fell through.

  • NU Skin reports 73 percent fall in quarterly profit Wednesday, 6 Aug 2014 | 8:01 AM ET

    Aug 6- NU Skin Enterprises Inc, a direct-seller of skincare and nutritional products, reported a 73 percent drop in quarterly profit as costs jumped and sales in Greater China, its biggest market, fell 12 percent. Nu Skin shares were down 17 percent in premarket trading.

  • BERLIN, Aug 6- German industrial orders fell in June at their steepest rate since September 2011 as euro zone demand weakened and bulk orders were below average, with the Economy Ministry suggesting this was in part due to uncertainty over the Ukraine crisis.

  • *NATO says concerned about threat of Russia entering Ukraine. LONDON, Aug 6- The euro fell to a nine-month low against the dollar on Wednesday as Italy reported it had fallen back into recession in the second quarter, German data showed industrial performance slumped in June and concern grew over conflict in Ukraine.

  • Aug 6- Tim Hortons Inc, Canada's biggest coffee and doughnut chain, reported a 9.3 percent rise in quarterly revenue due to a rise in the average check per person. Net income attributable to Tim Hortons was flat at C $123.8 million in the second quarter ended June 29.

  • Russia says to increase meat, dairy imports from Brazil Wednesday, 6 Aug 2014 | 7:46 AM ET

    MOSCOW, Aug 6- Russia will allow Brazil to significantly increase meat and dairy exports to Russia, the country's state Veterinary and Phytosanitary Surveillance Service said on Wednesday.

  • *SABMiller shares down 2 pct; Rio Tinto shares flat. LONDON, Aug 6- Jan du Plessis is set to become chairman of two big global companies at the same time when he takes over the role at brewer SABMiller Plc next year in addition to his current position at Rio Tinto.

  • Aug 6- Apollo Global Management LLC said on Wednesday its second-quarter earnings declined 6 percent, missing most analysts' expectations, as it sold fewer of its private equity holdings while taxes and expenses rose.

  • *Walgreen to buy remaining 45 pct of Alliance Boots. *Walgreen says inversion deal not in interests of investors. Aug 6- U.S. retailer Walgreen Co won't use a full takeover of Europe's biggest pharmacy chain Alliance Boots to move its domicile overseas, it said on Wednesday, following fierce criticism of such tax-cutting deals at home.

  • ROME, Aug 6- Italian designer label Tod's is edging away from its comfortable driving shoes, ballerina flats and platform sandals in an attempt to diversify its business and revive flagging sales.