Latest Business News Wires - Business Headlines


  • *Luye Pharma one of scores of firms expected to relist in HK, China. HONG KONG, July 9- Shares in China's Luye Pharma Group Ltd jumped as much as 18 percent in its Hong Kong market debut on Wednesday, bolstering prospects for other so-called " China orphan" firms that had been previously listed elsewhere.

  • BRICS to launch New Development Bank next week - Russia Wednesday, 9 Jul 2014 | 2:47 AM ET

    MOSCOW, July 9- Leaders of the BRICS nations will launch their long-awaited development bank at a summit next week and decide whether the headquarters should be in Shanghai or New Delhi, Russian Finance Minister Anton Siluanov said on Wednesday.

  • LONDON, July 9- U.S. drugmaker AbbVie has been forced to retract comments by its chief executive about shareholder support for its bid for Shire after being caught out by British takeover rules. "AbbVie confirms that it has not received any written commitments of support and accordingly retracts the statements," it said on Wednesday.

  • *Libya restarts 340,000- bpd El Sharara oilfield. SINGAPORE, July 9- Brent crude hovered near a one-month low under $109 a barrel on Wednesday, on track to drop for an eighth session in what would be its longest losing streak in over four years, amid expectations of more supplies after Libya restarted an oilfield.

  • BEIJING, July 9- Chinese Vice Premier Wang Yang said on Wednesday that China will quicken exchange rate reform, but that the country needs to find the right speed in its financial reforms.

  • DUBAI, July 9- Saudi Arabia produced 9.780 million barrels per day of crude oil in June, up from 9.705 million bpd in May, an industry source familiar with the matter said on Wednesday. The world's largest oil exporter and OPEC heavyweight supplied 9.745 million bpd to the market, the source said.

  • TOKYO, July 9- Japan's Nikkei share average fell to a 1-1/ 2- week low on Wednesday as the stronger yen hurt exporters, while cooler-than-expected China inflation data also soured sentiment. Risk appetite was also curbed as investors stayed cautious before the earnings season.

  • *Dublin wants steady course for Northern Ireland, ties with London. BELFAST, July 8- Horrified that Scotland might break up the United Kingdom by voting for independence this autumn, thousands of Northern Ireland loyalists are preparing to fight back using their favoured 17th century battle regalia: drums, flutes, banners and orange sashes.

  • Euro is not too strong - ECB's Coene Wednesday, 9 Jul 2014 | 2:00 AM ET

    BRUSSELS, July 9- The single European currency is not too strong and the European Central Bank should not go beyond its mandate to influence the exchange rate, ECB Governing Council member Luc Coene said in a newspaper interview published on Wednesday.

  • BEIJING, July 9- A Beijing court has ruled against Apple Inc by upholding the validity of a patent held by a Chinese company, clearing the way for the Chinese company to continue its own case against Apple for infringing intellectual property rights.

  • BEIJING, July 9- China's consumer inflation cooled slightly more than expected in June, pointing to lingering weakness in the economy which could prompt Beijing to launch further stimulus measures to shore up growth.

  • By Ian Chua and Masayuki Kitano. SYDNEY/ SINGAPORE, July 9- The New Zealand dollar hovered near a three-year high on Wednesday, buoyed by the prospect of a sovereign rating upgrade, while the U.S. dollar held steady ahead of minutes of the Federal Reserve's latest policy meeting.

  • Chicken price up— blame fat roosters who won't mate Wednesday, 9 Jul 2014 | 1:00 AM ET

    Aviagen Group's standard Ross male breed is sire to up to 25 percent of the nation's poultry, and its infertility is a problem for prices.

  • NEW YORK, July 9- Four years into the shale revolution, the U.S. is on track to pass Russia and Saudi Arabia as the world's largest producer of crude oil, most analysts agree. "The key issue is not whether production grows, it's by how much," said Ed Morse, global head of commodities research at Citigroup in New York.

  • CHICAGO, July 9- Foster Farms and its London insurers are facing off over the definition of "product recall" as the poultry producer seeks payment of $14.2 million in claims arising from a government-mandated shutdown of one of its plants, court documents show.

  • *Tencent has biggest fall in over a month after U.S. tech shares fall. HONG KONG, July 9- Hong Kong shares fell on Wednesday after U.S. stocks skidded, with Internet giant Tencent the biggest drag, while Chinese markets were knocked off three-week highs as banks fell. The China Enterprises Index of the top Chinese listings in Hong Kong fell 1.1 percent.

  • BEIJING, July 9- China and the United States need to manage their differences, the leaders of both countries said on Wednesday at the start of annual talks expected to focus on cyber-security, maritime disputes, the Chinese currency and an investment treaty.

  • SHANGHAI, July 9- China's yuan hit a three-month high against the dollar on Wednesday as China and United States started their annual Strategic and Economic Dialogue, which will help set the tone for relations between the world's top two economies in the coming year.

  • Brent falls below $109 as Libya restarts oilfield Tuesday, 8 Jul 2014 | 11:54 PM ET

    *Libya restarts 340,000- bpd El Sharara oilfield. SINGAPORE, July 9- Brent crude fell below $109 a barrel on Wednesday as Libya restarted an oilfield, on track to drop for an eighth session in what would be its longest losing streak in over four years.

  • TOKYO, July 9- Asian stocks extended losses to a one-week low on Wednesday after China's consumer inflation cooled slightly more than expected in June, pointing to lingering weakness in the economy.