Latest Business News Wires - Business Headlines


  • Aug 28- Longtime Google Inc executive Megan Smith is a top candidate for the role of United States' chief technology officer, Bloomberg reported on Thursday, citing people familiar with the matter.

  • HOUSTON, Aug 28- A tanker near Texas loaded with $100 million of disputed Iraqi Kurdish crude has disappeared from satellite tracking, the latest development in a high stakes game of cat-and-mouse between Baghdad and the Kurds.

  • NAB acquired regional lender Great Western in 2008 for just below $1 billion to get more involved in funding agribusiness in the United States, but the operation lacks the scale of larger competitors in the western states where it operates.

  • NEW YORK, Aug 28- A Manhattan federal judge has dismissed a 12- year-old lawsuit accusing Ford Motor Co and IBM Corp of encouraging human rights abuses in apartheid-era South Africa, reluctantly concluding that the case does not belong in U.S. courts.

  • NEW YORK, Aug 28- Bank of America Corp on Thursday asked a federal judge to throw out a jury verdict finding it liable for fraud over defective mortgages sold by its Countrywide unit that resulted in a $1.27 billion penalty.

  • WASHINGTON, Aug 28- The U.S. systemic risk council will meet on Sept. 4 to discuss naming nonbank financial firms for tougher regulatory oversight, the U.S. Treasury Department said on Thursday.

  • Aug 28- Data analytics software maker Splunk Inc reported a 52 percent rise in quarterly revenue as it added more customers and the company raised its full-year revenue forecast, sending its shares up 10 percent in extended trading.

  • Car parts distributor Transtar up for sale -sources Thursday, 28 Aug 2014 | 5:36 PM ET

    Transtar's owner, private equity firm Friedman Fleischer& Lowe LLC, has hired investment banks Bank of America Corp and Harris Williams& Co to run an auction for the company, the people said this week. Friedman Fleischer& Lowe, Transtar and Bank of America declined to comment.

  • Aug 28- New tensions in Ukraine, which has accused Russia of further incursions, may serve to light a fire under efforts to bring looser monetary and fiscal policies to the euro zone. While Russia has denied the allegations, NATO on Thursday said that well over 1,000 Russian troops were now inside Ukraine in what would represent a large increase.

  • *Russian troops in Ukraine spur concern. NEW YORK, Aug 28- U.S. stocks edged lower on Thursday after the latest tension between Ukraine and Russia snapped the focus of investors back to the volatile region, but U.S. economic data helped curb losses.

  • Labour shortage dents Thai plans to boost rice exports Thursday, 28 Aug 2014 | 5:00 PM ET

    *Thailand may miss 10 million T export target for this year. SAMUT PRAKAN, Thailand, Aug 29- Thailand is facing delays in plans to export millions of tonnes of rice from state stockpiles because of a labour shortage at ports after hundreds of thousands of foreign workers fled amid fears of a military crackdown on illegal migrants.

  • Japan's government will increase the inheritance tax rate in January, while tax relief measures on gifting will be expanded, in moves aimed at encouraging wealthy, older Japanese to either spend or pass on their savings before they die.

  • MUMBAI, Aug 29- Indian drugmakers are fleeing a regulatory morass at home and moving some research and development to Europe and the United States as try to boost margins by producing high-value drugs.

  • *New study shows China's productivity growth turned negative after global financial crisis.

  • Indonesia's rice-for-poor scheme to test new president Thursday, 28 Aug 2014 | 5:00 PM ET

    JAKARTA, Aug 29- Indonesia's powerful anti-graft agency will launch a probe into the nation's subsidised rice scheme unless major flaws are fixed, threatening moves to expand the role of the state food buying agency into other staples such as corn, beef and sugar.

  • Splunk's quarterly revenue rises 52 pct Thursday, 28 Aug 2014 | 4:54 PM ET

    Aug 28- Data analytics software maker Splunk Inc reported a 52 percent rise in quarterly revenue as it added more customers. However, net loss attributable to Splunk widened to $60.8 million, or 51 cents per share, in the quarter from $13.7 million, or 13 cents per share, a year earlier. Revenue rose to $101.5 million from $66.9 million.

  • Avago Technologies quarterly revenue jumps 97 pct Thursday, 28 Aug 2014 | 4:26 PM ET

    Aug 28- Chipmaker Avago Technologies Ltd reported a 97 percent rise in quarterly revenue, helped by higher demand for its radio frequency chips used in smartphones.

  • BRASILIA, Aug 28- Brazil's finance minister waded into the country's presidential campaign on Thursday, warning that an opposition victory in the October election could push the economy into recession and undo a decade of social gains under the ruling Workers' Party.

  • WASHINGTON, Aug 28- U.S. producers have lodged a complaint against Chinese imports of steel shelving units, saying the products are subsidized by the Chinese government and sold below fair value in the United States.

  • NEW YORK, Aug 28- U.S. stocks edged lower on Thursday after the latest spark of tensions between Ukraine and Russian forces, snapping investors' focus back on the volatile region, but the latest batch of U.S. economic data helped curb losses.