Latest Business News Wires - Business Headlines


  • The patent court had split 5-5, effectively upholding a lower court decision but offering no clear guidance, prompting the Supreme Court to take the case.

  • SAN JOSE, Calif., June 19- A U.S. judge on Thursday said she had concerns about approving a $324.5 million settlement involving Apple, Google and two other tech companies in a lawsuit accusing them of conspiring to avoid poaching each other's workers.

  • *BofA, Barclays, Citigroup and Credit Suisse among lead underwriters. June 19- Shares of Markit Ltd rose as much as 12.5 percent in their market debut, valuing the financial data provider at $4.83 billion and raising about $1 billion for its 12 bank shareholders.

  • June 19- Activist investor Carl Icahn asked struggling retailer Family Dollar Stores Inc to put itself up for sale immediately, threatening a proxy war to replace the company's entire board if a sale process was not started.

  • *Telenor stake for sale worth $7.1 billion. OSLO, June 19- Norway's government will ask parliament for the right to cut its stakes in telecommunications company Telenor and industrial group Kongsberg Gruppen to 34 percent of each entity, the trade minister said on Thursday.

  • NEW YORK, June 19- U.S. drugmaker AbbVie Inc has recently approached London- listed Shire PLC about a potential takeover, according to people familiar with the matter, marking the latest attempt by U.S. healthcare companies looking to acquire overseas rivals partly to lower their tax rates.

  • *Citigroup and J.P. Morgan underwriters to IPO. London- based VTTI listed Citigroup and J.P. Morgan as lead underwriters to its IPO.

  • LOS ANGELES June 19- The board of hipster clothing brand American Apparel Inc has ousted founder Dov Charney as chairman and said it was preparing for the controversial executive to fight his removal. American Apparel replaced the 45- year-old Charney as chairman late Wednesday, citing unspecified allegations of misconduct.

  • June 19- Royal Bank of Scotland Group Plc agreed on Thursday to pay $99.5 million to resolve a U.S. regulator's claims against the bank over Freddie Mac's purchase between 2005 and 2007 of mortgage-backed securities that later went sour.

  • NEW YORK, June 19- At a hearing Wednesday afternoon in Manhattan, Argentina's lawyer, Carmine Boccuzzi of Cleary Gottlieb Steen& Hamilton, informed U.S. Argentina also said in a brief to the Supreme Court that it would comply with U.S. court orders.

  • NEW YORK, June 19- Investors in U.S.-based funds committed $5.3 billion to stock funds in the week ended June 18 after adding $10 billion to the funds the prior week, data from Thomson Reuters' Lipper service showed on Thursday. The S&P 500 index gained about 0.7 percent from its close on June 11 through its close on June 18.

  • NEW YORK, June 19- The S&P 500 ended at another record high on Thursday, extending gains for a fifth day on investors' optimism that the Federal Reserve will keep interest rates low for a long period of time.

  • VTTI Energy Partners files for IPO of up to $420 mln Thursday, 19 Jun 2014 | 5:09 PM ET

    June 19- VTTI Energy Partners LP, an oil and gas storage and terminal company, filed with U.S. regulators on Thursday to raise up to $420 million in an initial public offering of common units. VTTI is 50 percent owned by Switzerland- based oil trader Vitol. London- based VTTI Energy listed Citigroup and J.P. Morgan as lead underwriters to the IPO.

  • China's property market may not be as bad as it looks Thursday, 19 Jun 2014 | 5:00 PM ET

    BEIJING, June 20- The first fall in Chinese home prices in two years has crystallised worries of a messy end to a housing boom, but some analysts say fears of an imminent collapse similar to that in the United States after the sub-prime crisis are overblown.

  • *Hyundai swaps aluminium hood with steel for new Genesis. SEOUL, June 20- About four years ago, Hyundai Motor considered shifting from steel to aluminium body parts for its Genesis sedan to make it lighter, more fuel-efficient and more competitive with German luxury marques, two people familiar with the matter said.

  • RBS to pay $99.5 mln, settle some FHFA mortgage claims Thursday, 19 Jun 2014 | 4:47 PM ET

    June 19- Royal Bank of Scotland Group Plc agreed on Thursday to pay $99.5 million to resolve a U.S. regulator's claims against the bank in litigation contending that Freddie Mac bought mortgage-backed securities that later went sour.

  • SAN FRANCISCO, June 19- Oracle Corp on Thursday posted fiscal fourth-quarter revenue and new software sales that disappointed Wall Street, sending its shares lower. Reflecting expectations of a pickup in its software business and progress in cloud computing, shares of Oracle had gained 10 percent over the past three months, double the S&P 500' s increase.

  • MEXICO CITY, June 19- Political wrangling in Mexico means Congress is unlikely to approve before July legislation to complete an energy overhaul at the center of President Enrique Pena Nieto's economic agenda, lawmakers said on Thursday.

  • NEW YORK, June 19- U.S. authorities are probing UBS AG for criminal fraud after a former broker in Puerto Rico allegedly directed clients to improperly borrow money to buy mutual funds that later plunged, according to lawyers representing some of the investors.

  • LUXEMBOURG, June 19- The European Union could be flexible about the time members need to fix their budgets if they reform to boost growth, but it must first have proof such efforts are taking place, EU policymakers said on Thursday.