Latest Business News Wires - Business Headlines


  • Applied Materials quarterly revenue exceeds estimates Thursday, 14 Nov 2013 | 4:08 PM ET

    SAN FRANCISCO, Nov 14- Top chip gear-maker Applied Materials posted fiscal fourth-quarter revenue of $1.99 billion, up from $1.65 billion in the year-ago period, as foundry customers build new production lines to make more advanced components.

  • NEW YORK, Nov 14- The Dow and the S&P 500 index recorded new highs on Thursday after Janet Yellen, the U.S. Federal Reserve Chair nominee, told a Senate committee the Fed's accommodative policies would continue as long as the economy remains fragile. The Nasdaq Composite Index was up 7.17 points, or 0.18 percent, at 3,972.74.

  • The People's Bank of China and the Reserve Bank of India were worried that sticking with traditional policy rates or bank reserves would have had a greater impact on the overall economy and slowed growth, which they wanted to avoid. Both central banks should be applauded for doing that, "said Frederic Neumann, co-head of economic research at HSBC in Hong Kong.

  • China's smog threatens health of global coal projects Thursday, 14 Nov 2013 | 3:59 PM ET

    SHANGHAI, Nov 15- A choking smog across much of northern China threatens not just the health of local residents, but also of major coal projects globally that are still on the drawing board.

  • UPDATE 9-Brent rises on Fed expectations, Libya Thursday, 14 Nov 2013 | 3:26 PM ET

    NEW YORK, Nov 14- Brent oil prices rose on Thursday supported by disruptions to Libyan output, while U.S. crude dipped as traders weighed bulging U.S. inventories, but both markets drew support from expectations the Federal Reserve would keep stimulus measures in place.

  • Cost to borrow Twitter shares drops, interest wanes Thursday, 14 Nov 2013 | 3:21 PM ET

    NEW YORK, Nov 14- The cost to borrow Twitter's stock dropped further on Thursday thanks to a growing supply of shares available for loan, including to traders looking to bet on a decline in the share price, data showed on Thursday. Twitter shares rose 4.7 percent in afternoon trading on Thursday to $44.60, about 71 percent higher than the IPO price of $26.

  • CARACAS, Nov 14- PDVSA President Rafael Ramirez said the Venezuelan state oil company's new $4.5 billion bond offer is starting on Thursday. In its second largest issue, PDVSA is selling $1.5 billion to the central bank while offering the remaining $3 billion to service providers to pay down billions of dollars in debts.

  • Hedge funds Jana Partners and Farallon Capital Management Group took positions in the ailing department store operator. Barry Rosenstein's Jana Partners and Farallon, founded by Tom Steyer, each bought 500,000 shares in the Plano, Texas- based company during the quarter, regulatory filings made with the Securities and Exchange Commission on Thursday show.

  • WASHINGTON, Nov 14- President Barack Obama bowed to political pressure over his signature healthcare reform on Thursday, announcing that he would allow insurers to extend policies that have been canceled for one year even if they do not comply with the law. But insurers immediately raised doubts over how the proposal would work.

  • A spokesman for TVA, Duncan Mansfield, said the company has not yet determined when it would shut the coal units or build the new gas plant. In 2011, TVA agreed with the U.S. Environmental Protection Agency to retire 18 of its 59 coal units representing about 2,700 MW by 2018..

  • Nov 14- Turquoise Hill Resources Ltd said Thursday it was planning a rights offering of up to $2.4 billion, citing delays at Rio Tinto's Oyu Tolgoi copper and gold mine in Mongolia that have stopped it from financing the mine's next phase.

  • FACTBOX-Five imperatives for a Yellen Fed Thursday, 14 Nov 2013 | 2:48 PM ET

    Nov 14- Janet Yellen, President Barack Obama's pick to lead the U.S. Since full employment and price stability are the mandates Congress has given the Fed, her take is not surprising, but her emphasis on the plight of the jobless stood out.

  • NEW YORK, Nov 14- U.S. household debt rose in the latest quarter by the most in more than five years and the share of student loans in delinquency hit a record high, data from the Federal Reserve Bank of New York showed on Thursday.

  • *Japan finance minister says must retain FX intervention as policy tool. NEW YORK, Nov 14- The dollar held gains against most currencies on Thursday, recovering from losses the previous day, as Federal Reserve Chair nominee Janet Yellen provided no negative surprises, defending the U.S. central bank's stimulus to spur growth.

  • California takes down 10 fake Obamacare websites Thursday, 14 Nov 2013 | 2:28 PM ET

    SACRAMENTO, Calif., Nov 14- Authorities in California shut down 10 fake Obamacare websites, amid nationwide concern among law enforcement officials about potential fraud during the program's rollout, the state's attorney general said on Thursday.

  • CARACAS, Nov 14- PDVSA president Rafael Ramirez said the Venezuelan state oil company's new $4.5 billion bond offer is starting on Thursday.

  • NEW YORK, Nov 14- Metals merchant and hedge fund Red Kite Group is on track to its third year of double-digit gains, investor reports showed, indicating a rare winning streak among commodity firms aiming to be profitable in both physical trading and investing.

  • MILAN, Nov 14- Telecom Italia agreed to sell its controlling 22.7 percent stake in Telecom Argentina to Fintech Group for $960 million, as it presses on with a plan to raise 4 billion euros to fix its balance sheet and revive its business.

  • BOSTON/ NEW YORK, Nov 14- Top U.S. hedge fund managers in the third quarter bought and sold shares of such hotly debated companies as Herbalife Ltd, J.C. Penney Co and Sotheby's.

  • OTTAWA, Nov 14- The Canadian government instructed the country's television regulator on Thursday to study the impact on consumers of unbundling cable- and satellite-television packages and to report back by April.

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