Latest Business News Wires - Business Headlines


  • *China pledges to let markets play decisive role in economy. LONDON, Nov 12- Copper slid on Tuesday as the dollar gained on expectations the U.S.

  • Potash slump raises stakes in Russia legal battle Tuesday, 12 Nov 2013 | 10:58 AM ET

    *Eurochem seeks $800 mln from London- listed Shaft Sinkers. *Claim "nonsensical and fabricated"- Shaft Sinkers. MOSCOW, Nov 12- Engineering firm Shaft Sinkers has dismissed as "nonsensical" an $800 million claim brought by Russia's third-largest fertiliser firm over the flooding of a mineshaft that delayed a $4 billion potash project.

  • European shares dip as rally stalls on weak results Tuesday, 12 Nov 2013 | 10:35 AM ET

    *Infineon drops 6 pct after warning of lower revenues. LONDON, Nov 12- European shares edged lower on Tuesday as a fresh set of weak corporate results put the brakes on a rally that had pushed a key regional equity index to a five-year high last week.

  • *China vows "decisive" role for markets, results seen by 2020. *DISH Network shares up after quarterly results.

  • Nov 12- An experimental sleep-disorder drug made by Vanda Pharmaceuticals Inc is safe and effective enough to warrant approval, a U.S. Food and Drug Administration review found, sending the company's stock up as much as 88 percent on Tuesday. The FDA is not bound to follow the advice of its advisory panels but typically does so.

  • BRUSSELS, Nov 12- Consumers risk losing out in a planned free-trade deal between Europe and the United States if big business succeeds in loosening standards, European consumer and environmental groups warned on Tuesday.

  • BRASILIA, Nov 12- Worried about a rapid deterioration of Brazil's finances, many investors are calling on President Dilma Rousseff to make sharp budget cuts.

  • Nov 12- Western Refining Inc said it would buy a controlling stake in Northern Tier Energy LP for about $775 million to add refining capacity with direct access to cheap crude oil.

  • LONDON, Nov 12- The European Union is seeking to increase its influence over global accounting standards by beefing up the agency that scrutinises new rules and in certain cases tweaking how they are applied in the bloc. The book-keeping standards, the bedrock of markets, are written by the International Accounting Standards Board.

  • JUBA, Nov 12- South Sudan has devalued its pound currency against the dollar by 34 percent to bring it onto a par with the black market rate, a move that risks fanning inflation. South Sudan has had a currency problem ever since it gained independence from Sudan in July 2011.

  • *Fed to buy $1.25- $1.75 bln long-dated Treasuries. It is unclear whether these higher yield levels will bolster bidding at this week's November refunding, where the Treasury Department will sell $70 billion in debt.

  • Nov 12- Japan's Mitsubishi Heavy has suggested significant cost savings as part of a behind-the-scenes proposal to Boeing to build the wings of its next jetliner in Japan, a person with knowledge of the proposal said.

  • LONDON/ PRAGUE, Nov 12- Central and south eastern Europe will bear the brunt of any halts of Russian gas supplies through Ukraine this winter but the region will not be caught as unprepared as in 2009 when thousands went without heat in freezing temperatures.

  • NEW YORK, Nov 12- Goldman Sachs Group Inc can cut pay dramatically and maintain staff when times are tough because it pays so well in good times, Chief Executive Lloyd Blankfein said on Tuesday. "Our people know the contract goes both ways," Blankfein said at a Bank of America-Merrill Lynch financial services conference in New York.

  • *Yemen in urgent need of budget support. DUBAI, Nov 12- The International Monetary Fund hopes to reach a loan deal with Yemen by the end of the year as the impoverished Gulf state urgently needs budgetary support, a senior official at the Washington- based lender said on Tuesday. A Yemen central bank official has said the loan could be worth up to $500 million.

  • LONDON, Nov 12- EU nations that lie outside the euro zone plan largely to fall in behind the European Central Bank when they check the health of their banks, helping them to avoid a "two tier" outcome in stress tests next year.

  • The FDA suggested that the drug to treat a rare muscle disorder be tested against a placebo in a new trial. The regulator cited the recent failure of the trial of a competing drug from GlaxoSmithKline and Prosensa and new data on the disease.

  • Arrow LNG a likely target in Shell spending rethink Tuesday, 12 Nov 2013 | 9:48 AM ET

    *Dropping Queensland export project could save $5 billion- analysts. LONDON, Nov 12- The Arrow gas export project in Australia is a likely casualty of a tighter spending regime at Royal Dutch/Shell as the company's new boss considers feeding output earmarked for it into a rival plant instead.

  • LONDON, Nov 12- Credit ratings organisations from five countries are launching a new global agency, touting it as an alternative to the Big Three agencies which they say no longer meet the needs of the new globalised world.

  • Nov 12- Home healthcare provider Amedisys Inc reported a surprise quarterly loss due to "soft" patient volumes and rise in expenses and it cut its full-year earnings forecast. Amedisys slashed its full-year earnings forecast to 20- 25 cents per share from 45- 55 cents.

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