Latest Business News Wires - Business Headlines


  • NEW YORK, July 11- Major global equities markets steadied and the yen stabilized against the U.S. dollar on Friday as worries about Portugal's biggest bank eased.

  • MOSCOW, July 11- Russia urged the European Union on Friday to refrain from implementing a free-trade pact with Ukraine until Moscow's concerns over the agreement are addressed.

  • *Wells Fargo falls, but revenue tops forecasts. Wells Fargo& Co reported revenue that beat expectations, though for the first time since 2009, the bank did not increase its earnings-per-share from the preceding quarter. Fastenal Co slumped 4.6 percent to $45.92 after revenue missed expectations.

  • OTTAWA, July 11- Canada unexpectedly shed 9,400 jobs in June and the unemployment rate rose to 7.1 percent from May's 7.0 percent, underlining how employment growth has stalled despite a recovery in the United States.

  • METALS-Copper eases on rising inventory levels Friday, 11 Jul 2014 | 10:33 AM ET

    LONDON, July 11- Copper dipped on Friday as investors eyed rising warehouse stocks and reassessed whether the metal, already trading near 4-1/ 2 month highs, was likely to extend gains, especially as it is due to move into surplus at some point this year.

  • FACTBOX-How the finances of Portugal's BES stack up Friday, 11 Jul 2014 | 10:21 AM ET

    LONDON, July 11- Banco Espirito Santo, Portugal's largest listed lender, issued a statement late on Thursday in a bid to allay investor concerns about its finances. -Exposure to Espirito Santo family holding companies Rioforte, Espirito Santo Financial Group and subsidiaries: 1.15 billion euros, including 1.08 billion euros of loans.

  • July 11- Two members of the U.S. Senate Finance Committee, including Chairman Ron Wyden, on Friday asked Gilead Sciences Inc to defend the more than $80,000 cost of its breakthrough new treatment for hepatitis C, citing the expense to federal healthcare programs.

  • NEW YORK, July 11- URS Corp, an engineering and construction services company with a market value of $3.5 billion, has recently held talks with industry rivals and buyout firms about a potential sale of the company, people familiar with the matter said.

  • MILAN, July 11- Whirlpool, the world's largest maker of home appliances, has agreed to pay 758 million euros to buy a 60 percent stake in smaller Italian rival Indesit to further expand beyond its U.S. home market.

  • *Gold miners to return to net hedging in 2014. LONDON, July 11- The gold mining industry is increasing its net hedged position for the first time since 2011 after a plunge in gold prices worried creditors, but a return to selling forward masses of bullion is a distant prospect.

  • July 11- Puerto Rico's revenues rose 5.5 percent during fiscal 2014 to end the year at $9.037 billion, which was still $488 million below the U.S. territory's budget estimates, according to a preliminary report released by its treasurer on Friday. Corporate income tax collections for the fiscal year that ended on June 30 rose 49 percent to $1.914 billion.

  • *IOSCO conducting review of fines for corporate wrongdoing. The review by the International Organisation of Securities Commissions comes after U.S. authorities slapped a record fine of almost $9 billion on French bank BNP Paribas for breaching U.S. government sanctions against Sudan, Cuba and Iran.

  • July 11- Chrysler Group LLC said it would recall almost 900,000 sport utility vehicles to fix the wiring for vanity mirror lights in sun visors, to prevent short circuits. About 651,000 of the 895,000 vehicles being recalled are in the United States.

  • OTTAWA, July 11- The Supreme Court of Canada on Friday backed the right of the province of Ontario to grant forestry licenses, after an aboriginal challenge to licenses it had granted to a predecessor of Resolute Forest Products Inc.

  • *Yellen's testimony before Congress next week seen key. Treasuries prices rose on Friday, with benchmark yields hovering at their lowest in five weeks, on safe-haven demand stemming from intensified fighting in the Middle East and worries about problems at Portugal's biggest listed bank.

  • TOKYO/ DETROIT, July 11- The chief of Nissan Motor Co's Infiniti premium brand, Johan de Nysschen, is leaving two years after he joined the Japanese carmaker, a Nissan spokeswoman said on Friday. General Motors Co has hired de Nysschen, 54, to run its luxury Cadillac brand, a source familiar with the plans who asked not to be identified said on Friday.

  • NEW YORK, July 11- U.S. stocks opened flat on Friday after notching three declines in the prior four sessions, with the S&P 500 on track for its worst week since April.

  • NEW YORK, July 11- The Japanese yen was stable against the U.S. dollar, after jumping on Thursday as Portugal's largest bank sought to reassure investors about its financial stability. Banco Espirito Santo said on Thursday night that loan losses to the troubled empire of its founding family would not put the bank at risk of running short of capital.

  • *U.S. CRUDE OIL FUTURES EXTENDS LOSSES, FALLS $1 Friday, 11 Jul 2014 | 9:29 AM ET