Latest Business News Wires - Business Headlines


  • KALININGRAD, Russia, May 13- The Russian economy is likely to shrink again in the second quarter, putting the country into a recession, Economy Minister Alexei Ulyukayev said on Tuesday.

  • *Ukraine owes Gazprom $3.5 bln for gas. MOSCOW, May 13- Russia's Gazprom demanded a $1.66 billion pre-payment from Ukraine for June gas deliveries on Tuesday, saying the neighbouring country had only half its requirements in storage to ensure a trouble-free winter.

  • Coca-Cola raises stake in Keurig Green Mountain Tuesday, 13 May 2014 | 6:56 AM ET

    May 13- Coca-Cola Co has raised its stake in Keurig Green Mountain Inc to 16 percent from 10 percent, making it the largest shareholder of the maker of the popular Keurig one-cup coffee brewer. Keurig's shares closed at $110.71 on the Nasdaq on Monday. Coca-Cola's stock closed at $40.82 on the New York Stock Exchange.

  • CANBERRA, May 13- Australia's conservative government on Tuesday released a politically contentious federal budget packed with deregulation and tough spending cuts that it offers as a roadmap for returning to surplus within a decade.

  • *Corn edges up despite rapid planting pace. Corn edged higher even though the U.S. Department of Agriculture had pegged planting progress in excess of market expectations. "I think the USDA report is continuing to put pressure on prices," said Paul Deane, senior agricultural economist at ANZ Bank.

  • MUMBAI, May 13- Investors added to bets that Indian opposition leader Narendra Modi would score a decisive election win, sending markets to fresh highs on Tuesday at the same time as piling pressure on the next government to deliver swift results on the economy.

  • LONDON, May 13- AstraZeneca Chief Executive Pascal Soriot said Pfizer's plan to cut its tax bill by re-domiciling to Britain if it buys the smaller British drugmaker posed a reputational risk. The U.S. drugmaker has stirred up a political storm with its $106 billion plan to acquire AstraZeneca, which has been rebuffed by the smaller British company.

  • At Tuesday's fresh 27- month peak, nickel had gained 17 percent in just four sessions and 55 percent so far this year following a ban in January on unprocessed ore exports from top producer Indonesia. The question is whether this is a signal for it to have a more serious correction, "said Stephen Briggs, metals strategist at Societe Generale in London.

  • UPDATE 1-Kuwait signs $3 bln deal to buy gas from BP Tuesday, 13 May 2014 | 6:31 AM ET

    KUWAIT, May 13- Kuwait signed a five-year liquefied natural gas supply deal with BP on Tuesday, worth an estimated $3 billion, as it seeks to meet rising energy demand to power air conditioning during scorching Gulf summers.

  • AstraZeneca says Pfizer bid approach "opportunistic" Tuesday, 13 May 2014 | 6:28 AM ET

    LONDON, May 13- British drugs company AstraZeneca said its bigger U.S. rival Pfizer was making an "opportunistic attempt" to buy the company for a price that didn't reflect the value of its "exciting pipeline" of new drugs.

  • BEIJING, May 13- China will not take large-scale stimulus measures to smooth short-term growth fluctuations, as the country's basic economic situation has not changed, Vice Finance Minister Zhu Guangyao said on Tuesday.

  • MADRID, May 13- Spain raised billions of euros for both public and corporate coffers on Tuesday, taking advantage of massive demand for euro zone peripheral debt as economic concerns ease and investors search for yield.

  • *Pfizer hints at improved offer if AstraZeneca engages. LONDON, May 13- U.S. drugmaker Pfizer suggested it could raise its proposed $106 billion offer if AstraZeneca engaged in talks, as its boss was grilled by UK lawmakers on his commitment to British research spending and jobs.

  • Pro- Moscow rebels in east Ukraine call to join Russia. LONDON May 13- Brent crude reversed early losses to rise towards $109 a barrel on Tuesday, as traders expressed doubt about how quickly supplies will return from Libya, while the threat of further Western sanctions against Russia provided further support.


  • PARIS, May 13- The growth outlook for major emerging economies is worsening but remains largely stable for the big developed economies, the OECD said on Tuesday.

  • BEIJING/ SAN FRANCISCO, May 14- Alibaba is taking a tougher line against counterfeit items sold on its online marketplaces as the Chinese e-commerce giant heads towards a U.S. stock listing that could be the world's biggest technology company IPO.

  • FRANKFURT, May 13- German shipping company Hapag-Lloyd's first-quarter loss widened as its revenue declined, hit by tough competition which depressed freight rates and a weak dollar.

  • KAMPALA, May 13- Uganda's economic growth should accelerate to just above 6 percent in the next fiscal year through June 2015 despite the risk of reduced foreign aid and unrest in key export market South Sudan, the IMF said on Tuesday.

  • PRECIOUS-Gold prices retreat as stocks rally in Europe Tuesday, 13 May 2014 | 5:50 AM ET

    LONDON, May 13- Gold edged down towards $1,290 an ounce on Tuesday as a rally in equity markets diverted some buying interest from the metal, and as investment interest and demand for physical gold in Asia remained lacklustre. Gold retreated from its overnight highs as stocks climbed.