Latest Business News Wires - Business Headlines


  • Office Depot posts bigger loss as costs soar Tuesday, 5 Aug 2014 | 7:26 AM ET

    Aug 5- Office Depot Inc reported a bigger quarterly loss as costs soared 58 percent and retail same-store sales fell 3 percent in North America, its largest market. Net loss attributable to shareholders widened to $190 million, or 36 cents per share, in the second quarter ended June 28 from $64 million, or 23 cents per share, a year earlier.

  • Aug 5- Gannett Co Inc, the publisher of USA Today, said it would take full ownership of automotive website Cars.com and spin off its publishing assets into a publicly traded company as it focuses on its digital businesses.

  • LONDON, Aug 5- Britain's services industry grew last month at the fastest pace since November, raising the chance that the rapid economic recovery will continue for the rest of the year and potentially bringing forward a rise in interest rates.

  • MUNICH, Germany, Aug 5- A German judge said on Tuesday he would discontinue for now a bribery trial against Formula One boss Bernie Ecclestone following his offer to make a $100 million payment. He ordered Ecclestone to pay $100 million within a week- $99 million to the state and $1 million to a children's charity.

  • CHICAGO, Aug 5- Agribusiness company Archer Daniels Midland Co on Tuesday reported higher-than-expected second-quarter earnings, citing strong U.S. exports and demand for ethanol. Illinois- based ADM reported net earnings of $533 million, or 81 cents per share, up from $223 million, or 34 cents a share, a year earlier.

  • Aug 5- Coach Inc reported better-than-expected quarterly revenue helped by a 7 percent rise in sales of its clothes, shoes and handbags in international markets such as China. Coach's net income fell to $75.3 million, or 27 cents per share in the fourth quarter ended June 28, from $221.3 million, or 78 cents per share, a year earlier.

  • Motorola Solutions revenue drops 7 pct Tuesday, 5 Aug 2014 | 7:10 AM ET

    Aug 5- Motorola Solutions Inc, which makes walkie-talkies, rugged mobile computers and tablets, reported a 7 percent drop in quarterly revenue partly due to lower sales in North America. The company said it expects to cut costs by about $300 million by the end of 2015- more than its targeted $200 million.

  • Aug 5- Emerson Electric Co, a automation and power supply systems maker, reported a higher quarterly profit, helped by a rise in sales in North America. Net earnings attributable to common shareholders rose to $728 million, or $1.03 per share, in the third quarter ended June 30, from $194 million, or 27 cents per share, a year earlier.



  • LONDON, Aug 5- Minerals group Sierra Rutile has begun screening its workers for early signs of Ebola, put travel restrictions in place and limited access to its operations in west Africa, the company said on Tuesday.

  • *Italy, Latin America perform strongly in first half. MILAN, Aug 5- Italian drinks group Campari reported flat first-half pretax profit after a recovery in underlying sales in the second quarter, especially in Russia, Jamaica and Australia, made up for weaker shipments at the start of the year.

  • Aug 5- Gannett Co Inc, the publisher of USA Today, said it would buy the 73 percent stake it does not already own in automotive website Cars.com for about $1.8 billion in cash. Gannett also said it would split into two publicly traded companies. One would focus on broadcasting and digital businesses, and the other on its publishing business, the company said.

  • LONDON, Aug 5- Gold edged up on Tuesday following disappointing Chinese economic data, but a firmer dollar and stronger European equity markets limited gains. U.S. gold futures for December were up $2.90 at $1,291.80 an ounce.

  • *BMW Q2 EBIT 2.6 bln eur vs 2.23 bln forecast in poll. *Sales of BMW branded cars up 8.3 pct. FRANKFURT, Aug 5- New models and strong sales in China helped BMW AG to beat second-quarter profit forecasts and keep it on track to remain the world's biggest luxury carmaker under the challenge of its German rivals.

  • Aug 5- Time Inc, the largest magazine publisher in the United States, reported a 1.6 percent fall in quarterly revenue, hurt by a fall in subscription revenue and newsstand sales. Time posted a loss of $32 million, or 30 cents per share, in the second quarter ended June 30, compared with a profit of $75 million, or 69 cents per share, a year earlier.

  • *Bank takes 708 mln hit from Banco Espirito Santo exposure. PARIS, Aug 5- France's Credit Agricole took a 708 million euro hit from its stake in troubled Portuguese lender Banco Espirito Santo, nearly wiping out its second-quarter net profit.

  • *China July services growth slows to lowest in almost 9 yrs. LONDON, Aug 5- Copper prices slipped on Tuesday, under pressure from data showing growth in China's services sector slowed to its lowest level in nearly nine years, raising concerns about the demand outlook from the world's top metals consumer. Three-month copper 0.2 percent at $7,120 a tonne at 1014 GMT.

  • Toyota on Tuesday posted 692.7 billion yen in April-June operating profit, up 4.4 percent year-on-year and its best quarter ever with solid U.S. sales, cost cuts and a weaker yen bolstering profits.