Latest Business News Wires - Business Headlines


  • HONG KONG, May 8- Standard Chartered said its first-quarter profit was likely to be down by a high single-digit percentage compared with last year, thanks to weakness in Asian currencies including the Indian rupee and Indonesian rupiah.

  • RPT-Samsung Elec replaces mobile design head Thursday, 8 May 2014 | 12:37 AM ET

    Lee, 42, became Samsung's youngest senior executive in 2010 for his role in designing the Galaxy series, a roaring success which unseated Apple Inc's iPhone as king of the global smartphone market. Samsung now sells two times more smartphones than Apple, largely thanks to the success of Galaxy range.

  • GUARUJA, Brazil, May 7- Brazil's 2014/ 2015 coffee crop is expected to drop to 40.1-43.3 million bags after a drought early this year, more than 13 percent below the government's January forecast, the non-profit coffee research group Fundacao Procafe said on Wednesday.

  • SYDNEY/ SINGAPORE, May 8- The euro held below a near two-month high on Thursday ahead of an interest rate review by the European Central Bank, while the Aussie rose on better-than-expected data on Australian jobs and Chinese trade.

  • BEIJING, May 8- Chinese imports of soybeans hit their highest so far this year in April, climbing 63.5 percent from the same month in 2013, official customs data showed on Thursday. Growth was helped by more imports from Brazil, China's top supplier, after port congestion last year delayed shipments. "There are no logistics problem in Brazil, not like last year.

  • --Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, May 8- How long can strength in China's commodity imports co-exist with weakness in other key indicators, such as manufacturing?

  • *China's crude oil imports jump 22 percent in April on-month. *China's April trade surplus higher than expected. "People have been bearish on China, so if we have any good news out of China it should at least provide some support," said Tony Nunan, oil risk manager at Mitsubishi Corp in Tokyo.

  • BEIJING, May 8- China's exports and imports returned to slight growth in April, beating market forecasts and offering some positive signals for the world's second-largest economy after a weaker-than-expected start to 2014..

  • NEW YORK, May 7- A spate of Asian buying helped redeem an otherwise spotty sale of Impressionist and modern art at Sotheby's on Wednesday, which took in $219 million but saw many works fall short of expectations. The price was twice that of the pre-sale estimate of $14 million to $18 million.

  • HONG KONG, May 8- Chinese imports of copper rose 7.2 percent in April from the previous month, extending gains made in March as stronger domestic prices boosted their appeal. Benchmark three-month copper on the London Metal Exchange inched up slightly after the Chinese data was released, trading at $6,669.25 per tonne at 0317 GMT.

  • DENVER, May 7- The Colorado legislature on Wednesday voted to create the nation's first state-run financial cooperative for marijuana sellers, with the aim of giving newly legalized cannabis retail outlets access to key banking services through the U.S.

  • JGBs mostly down, investors position for 10-year sale Wednesday, 7 May 2014 | 11:20 PM ET

    TOKYO, May 8- Japanese government bond prices ended Thursday's morning session mostly lower, sending yields up slightly as investors positioned for the day's 10- year sale. As widely expected, the Ministry of Finance set the coupon of the new 10- year JGBs at 0.6 percent for the seventh straight month, re-opening the current issue number 333 for the second time.

  • SAN FRANCISCO, May 7- Google Ventures led a $130 million investment in oncology-data company Flatiron Health, Flatiron said on Wednesday. Google Ventures has also backed Foundation Medicine, which uses vast amounts of data to analyze tumors. Existing investors First Round Capital and Laboratory Corp also participated in Flatiron's funding round.

  • SYDNEY, May 8- London nickel pushed to hits highest in 19 months on Thursday amid heightened supply concerns as Vale halted processing at its Goro nickel plant in New Caledonia, adding to concerns over Indonesian and Russian supply.

  • BRUSSELS, May 7- European Union governments reached a preliminary agreement on Wednesday to expand the legal criteria for targeting people and companies with sanctions to pressure Russia over Ukraine, paving the way for new listings as early as Monday, diplomats said.

  • May 7- A man arrested by Texas police over his alleged involvement in the devastating data breach at No. 3 U.S. retail chain Target Corp last year was in fact picked up in a "street-level arrest" unrelated to a broader federal investigation into the matter, a law enforcement official told Reuters.

  • *Nintendo tumbles to lowest since June 2013. *Toyota, Takeda to report earnings later in the day. Nintendo Co fell 5.6 percent to 10,070 yen, its lowest since June 2013, after posting a 46.4 billion yen operating loss for the year ended in March.

  • May 7- The arrest of a man that Texas police said was involved in last year's massive Target Corp data breach was in fact not part of the broader federal investigation, a law enforcement official familiar with the probe told Reuters on Wednesday.

  • WASHINGTON, May 7- More than 100 technology companies, including Google Inc, Facebook Inc, Twitter Inc and Amazon.com Inc, have written to U.S. telecom regulators to oppose a new "net neutrality" plan that would regulate how Internet providers manage Web traffic.

  • *China palm oil imports seen falling on credit curbs. SINGAPORE/ KUALA LUMPUR, May 7- China's refined palm oil imports could be hit as buyers struggle for funding, the latest casualty in Beijing's crackdown on commodity financing in the face of slowing domestic demand.