Latest Business News Wires - Business Headlines


  • *Chinese e-commerce giant files for most anticipated IPO since Facebook. Alibaba Group Holding Ltd, which powers 80 percent of all online commerce in the world's second-largest economy, is expected to raise more than $15 billion, and could top the $16 billion pulled in by Facebook Inc when it listed in 2012..

  • PARIS/ BOSTON, July 14- Insurers are eagerly eyeing exponential growth in the tiny cyber coverage market but their lack of experience and skills handling hackers and data breaches may keep their ambitions in check.

  • BANGALORE, July 14- Naveen Rabelli's tuk-tuk broke down the first time he rolled it out of his garage. The electrical engineer didn't lose heart: now, he plans to drive his customized three-wheeler all the way to London.

  • NEW YORK, July 14- Federal prosecutors are developing a criminal fraud case hinged on whether General Motors made misleading statements about a deadly ignition switch flaw, and are examining activity dating back a decade, before GM's 2009 bankruptcy, according to multiple sources familiar with the investigation.

  • *Tencent, JD.com tie-up sharpens e-commerce challenge. SHANGHAI, March 17- Alibaba's dominance of online retail in China faces its biggest-ever challenge as the firm founded by Jack Ma in an apartment 15 years ago lines up a U.S. initial public offering that could value the firm at around $140 billion.

  • BEIJING, July 14- China's fiscal expenditure surged 26.1 percent in June from a year earlier to 1.65 trillion yuan, reflecting government efforts to speed up spending to shore up the economy.

  • HONG KONG, July 14- Hong Kong shares rose on Monday with China's three state-owned wireless carriers leading gains, while mainland markets were also stronger as auto stocks extended their advance on new policy support. The Hang Seng Index and the China Enterprises Index of the top Chinese listings in Hong Kong each added 0.4 percent.

  • *Violence in Libya, Iraq could boost prices this week. But the market could see a strong rebound this week amid new and continuing violence in Libya and Iraq, and worries that a final deal may not be reached between Tehran and world powers.

  • SHANGHAI, July 14- China's yuan fell against the dollar on Monday as companies tended to buy dollars in anticipation that the Chinese currency would remain relatively weak in the near term, traders said.

  • *Zinc, aluminium rallies unlikely to be sustained- Citi. SYDNEY, July 14- London zinc prices jumped to their highest level in three years on Monday amid prospects of falling mine supply, while copper prices steadied after four weeks of gains.

  • *Could push aluminium price to $2,500 per T- Japan industry body. TOKYO, July 11- Prices for aluminium could climb around a third to as high as $2,500 per tonne if more U.S. automakers start producing vehicles made from the metal, said the new head of Japan's aluminium industry body.

  • NEW YORK, July 14- Smoking-related lawsuits against U.S. tobacco giants are leveling off, making it more likely that a merger between rivals Reynolds American Inc and Lorillard Inc will go through, analysts who follow the industry said.

  • The price of mobile services has become a hot political issue, with the Conservative government trying to drive prices down by encouraging smaller companies to challenge the dominance of the Big Three: BCE Inc's Bell, Rogers Communications Inc and Telus Corp..

  • *Gold slips after six straight weeks of gains. SINGAPORE, July 14- Gold ticked lower on Monday as Asian share markets gained strength, but the metal stayed close to a four-month high hit last week on safe-haven demand from escalating tensions in the Middle East and Ukraine.

  • China urges local govts to buy more new-energy cars Sunday, 13 Jul 2014 | 11:34 PM ET

    SHANGHAI, July 14- China has told government officials to use more electric and plug-in hybrid cars as part of its drive to cut pollution by putting 5 million such vehicles on the road by 2020..

  • China's June fiscal spending jumps 26.1 pct y/y Sunday, 13 Jul 2014 | 11:14 PM ET

    BEIJING, July 14- China's fiscal expenditure surged 26.1 percent in June from a year earlier to 1.65 trillion yuan, the finance ministry said on Monday, reflecting the government efforts to speed up spending to shore up the economy. The spending growth accelerated from a rise of 24.6 percent in May.

  • *China case against GSK-linked investigator couple lodged with court. SHANGHAI, July 14- Prosecutors in China have filed charges against British investigator Peter Humphrey and his American wife, the official Xinhua news agency said on Monday, after the couple were detained last year following work they did for British drugmaker GlaxoSmithKline Plc.

  • JGBs dip slightly, benchmark 10-yr bonds untraded Sunday, 13 Jul 2014 | 10:47 PM ET

    TOKYO, July 14- Japanese government bond prices sagged on Monday, hit by profit-taking and ahead of five-year bond auction later in the week. But most domestic real money accounts took a wait-and-see stance, as the Bank of Japan will start its monthly two-day policy board meeting on Monday, though no policy change is expected.

  • TOKYO, July 14- Japan's Nikkei average rose modestly on Monday, ending its longest losing streak since the current "Abenomics" rally started in November 2012, as retail investors picked up shares of small- and medium-sized companies.

  • PARIS, July 14- Airbus will kick off the Farnborough Airshow with up to 100 commitments for its revamped A330neo wide-body jet, industry sources said, deepening a contest with Boeing for up to $250 billion of orders at the core of the long-haul jet market. Airbus Group declined to comment.