Latest Business News Wires - Business Headlines


  • *MSCI World index falls 0.5 pct, MSCI Europe down 1.2 pct. *Sharp sell-off on Wall Street hits global stocks. LONDON, April 11- Global equities slipped to a two-week low on Friday as a sell-off on Wall Street led by technology and biotech shares and triggered by growing concerns that valuations are over stretched spread to Asia and Europe.

  • RIO DE JANEIRO, April 11- The purchase of a Texas oil refinery by Brazil's state-run oil company has become a campaign issue as opponents of President Dilma Rousseff use it to attack her reputation as a no-nonsense manager and weaken her lead ahead of the October election.

  • ISTANBUL, April 11- Prime Minister Tayyip Erdogan suffered a double blow to his authority when Turkey's top court annulled part of a law tightening government control of the judiciary on Friday hours after Moody's cut its rating outlook.

  • Greek yields rise as market comeback euphoria fades Friday, 11 Apr 2014 | 6:50 AM ET

    LONDON, April 11- Greek bond yields rose on Friday as investors booked profits on the rally that preceded Greece's return to debt markets, although its new five-year bond held up relatively well in early trading.

  • PARIS, April 11- Global supply and demand for crude oil should continue to be fairly balanced this year, the secretary general of OPEC said, signalling the group is likely to leave its existing output ceiling in place at its June meeting.

  • SINGAPORE/ TOKYO, April 11- At least one soybean cargo defaulted on by Chinese importers was sold by Japan's Marubeni Corp, three sources said, as slowing demand and tightening credit in the world's top importer hits oilseed trade.

  • LONDON, April 11- Gold steadied below 2-1/ 2 week highs on Friday, heading for its best week in a month on sagging risk appetite and increasing hopes the U.S. Gold futures for June delivery were down 0.1 percent to $1,319.40 an ounce.

  • OSLO, April 11- Royal Dutch Shell has dropped one of Norway's biggest and most innovative industrial projects due to rising costs and complexity, dealing a blow to a technology that some hope could revolutionise offshore production.

  • Another bank threatens to quit Austria over taxes Friday, 11 Apr 2014 | 6:08 AM ET

    VIENNA, April 11- The head of the Raiffeisen bank in the Austrian province of Upper Austria has threatened to move its headquarters across the border to Germany in a growing row with the government over a bank levy which lenders say is too onerous.

  • *Plenty of room to grow in France, Spain. OSLO, April 11- High-flying Norwegian media and classifieds firm Schibsted plans to keep expanding and sees a shift to mobile platforms as the advertising sector's next transformation, its chief executive said.

  • U.S. and China appeal WTO rulings Friday, 11 Apr 2014 | 5:51 AM ET

    GENEVA, April 11- The United States and China have both appealed against recent rulings in disputes at the World Trade Organization, filings published by the WTO showed on Friday.

  • KUALA LUMPUR, April 11- Malaysia's government has begun investigating civil aviation and military authorities to determine why opportunities to identify and track Malaysia Airlines Flight MH370 were missed in the chaotic hours after it vanished, two officials said.

  • LONDON, April 11- Brent oil futures dipped towards $107 a barrel on Friday following a weaker outlook for 2014 global demand growth from the International Energy Agency and due to expectations that more Libyan crude will reach the market next week. Brent crude was down 29 cents at $107.17 a barrel by 0927 GMT after settling 52 cents lower on Thursday.

  • KIEV, April 11- Ukraine hopes to buy gas from Europe to shore up its energy security, fearful Russia will cut gas supplies over Kiev's refusal to pay Moscow's "political, uneconomic price" for supplies, its energy minister said on Friday.

  • *Fitch has highest rating, outlook on Portugal among agencies. LISBON, April 11- Rating agency Fitch raised its outlook on Portugal's debt rating to "positive" from "negative" on Friday, citing the country's strong progress in cutting its budget deficit, regaining market access and improving economic growth.

  • MILAN, April 11- Italy paid the lowest yield on record to sell three- and seven-year bonds at auction on Friday, a welcome relief to the country's public finances at a time when the government is betting on tax cuts to spur growth.

  • *Lowers non- OPEC supply view in 2014 by 250,000 bpd. LONDON, April 11- World oil demand will rise less than previously thought in 2014, the International Energy Agency said on Friday, due to a lower outlook for Russia's economic growth following its annexation of Crimea.

  • Rally expected in new Greek bonds when trade begins Friday, 11 Apr 2014 | 5:12 AM ET

    LONDON, April 11- Yields on Greece's new five-year bonds, sold in the bailed-out country's return to markets after a four-year absence, were expected to fall below the sale price when they began trading on Friday.

  • *Europe, China growth outweighs U.S., Brazil declines. BERLIN, April 11- Volkswagen posted on Friday the strongest monthly gain in group vehicle sales in March in more than a year, benefiting from recovering demand in core European markets that helped outweigh falling sales in the United States and Brazil.

  • LONDON, April 11- Taxes on wages rose across industrialised countries last year, as governments sought to reduce budget deficits blown out by efforts to tackle years of economic weakness following the financial crash.