Latest Business News Wires - Business Headlines


  • Nov 13- U.S. health regulators on Wednesday approved a drug to treat a rare and aggressive form of non-Hodgkin lymphoma developed by Johnson& Johnson and Pharmacyclics Inc, marking the second drug that received the FDA's new breakthrough therapy designation to gain approval.

  • LONDON, Nov 13- Foreign embassies are abandoning London's premier addresses such as Mayfair and Kensington as the world of diplomacy changes in the face of security risks and new technology, just as property prices are reaching untold heights.

  • Goldman Sachs names 280 managing directors as of Jan. 1 Wednesday, 13 Nov 2013 | 12:48 PM ET

    NEW YORK, Nov 13- Goldman Sachs Group Inc named 280 new managing directors on Wednesday, a 5 percent increase from the previous year. The title is one step away from the vaunted position of partner at the Wall Street bank. More than half are in the Americas, and 20 percent are women.

  • Nov 13- Starbucks Corp on Wednesday said it could handle the whopping $2.76 billion payment it must make for ending its grocery coffee deal with Kraft Foods early but noted it would restate results for the latest quarter to show an operating loss and issue additional debt.

  • NEW YORK, Nov 13- Asset managers building big stakes in corporate bonds could be left hanging as banks cut back on providing liquidity, increasing the risk of chaotic selloffs should interest rates spike from record lows.

  • *Italy, Germany sell government bonds smoothly. LONDON, Nov 13- German Bunds jumped on Wednesday after investors took dovish comments from a European Central Bank official as an excuse to buy back into the debt market.

  • Nov 13- Perry Ellis International Inc slashed its full-year forecast due to lower sales of its private-label clothing, sending its shares down 23 percent to a near two-year low. Perry Ellis also reported weaker-than-expected sales in the first two quarters of the year.

  • U.S. House Democrats clamor for Obamacare fix this week Wednesday, 13 Nov 2013 | 12:32 PM ET

    WASHINGTON, Nov 13- U.S. House of Representatives Democrats, seething over the botched startup of President Barack Obama's healthcare law, are urging U.S. officials to swiftly help people whose existing insurance policies are being canceled due to Obamacare.

  • The company has been operating since 2002 despite the anarchy that has plagued Somalia, and has survived over the years only because of the warring parties' need for communications, chief executive Ahmed Yuusuf said.

  • BRASILIA/ BEIJING, Nov 13- Brazil's state-run oil company Petrobras has struck a deal to sell its Peruvian oil and gas assets to PetroChina, China's top oil and gas firm, and its parent China National Petroleum Corp for $2.6 billion. "The three target blocks are all quality oil properties in Peru with achievable profit potential," PetroChina added.

  • LONDON, Nov 13- Copper tumbled to its lowest level in three months on Wednesday after a U.S. People are coming out of the woodwork, "said Vicky Sanders, head of analytics sales at broker Marex Spectron in London. Three-month copper on the London Metal Exchange closed down 2 percent at $6,980 a tonne, after touching a low of $6,956, the weakest since Aug. 7.

  • UPDATE 1-U.S.-based stock funds attract $9 billion - ICI Wednesday, 13 Nov 2013 | 12:22 PM ET

    NEW YORK, Nov 13- Investors in U.S.-based mutual funds poured over $9 billion into stock funds in the week ended Nov. 6 despite uncertainty over the Federal Reserve's next move, data from the Investment Company Institute showed on Wednesday.

  • WASHINGTON, Nov 13- Top government technology officials told an acrimonious congressional hearing on Wednesday that they expected the website at the center of President Barack Obama's signature healthcare law to be working smoothly by the end of the month as planned.

  • MOSCOW, Nov 13- Russian mining group Mechel lost 40 percent of its market value in Moscow on Wednesday, hit by concerns over a proposed debt restructuring that the company called speculative.

  • WASHINGTON, Nov 13- The Obama administration's troubled HealthCare.gov site has been subject to an unsuccessful cyber attack aimed at overwhelming and taking down the site, a U.S. cybersecurity official said on Wednesday.

  • UPDATE 2-S.Africa's AMCU union cuts Implats wage demands Wednesday, 13 Nov 2013 | 11:53 AM ET

    JOHANNESBURG, Nov 13- South Africa's AMCU union has lowered its wage demands at Impala Platinum, bringing it closer to resolving weeks of deadlock that had been threatening a strike at the world's No.2 platinum producer.

  • *Shares open at $11, below IPO price of $12.50. *Hit a low of $10, valuing the company at about $863 mln. Chegg's IPO of 15 million shares was priced at $12.50 each, higher than the expected range of $9.50- $11.50.

  • Tesla may make pickup truck in five years -report Wednesday, 13 Nov 2013 | 11:47 AM ET

    DETROIT, Nov 13- Tesla Motors Inc may introduce an electric pickup truck within five years that is modeled after Ford Motor Co's top-selling F-150, the Business Insider website reported on Wednesday.

  • Nov 13- Canadian Solar Inc is considering spinning off a unit to operate some of the high-margin solar power plants that helped the company to its first profit in nine quarters.

  • Barclays launches USD2bn AT1 dollar bond Wednesday, 13 Nov 2013 | 11:38 AM ET

    Nov 13- Barclays on Wednesday launched its US $2 billion Additional Tier 1 contingent capital bond at 8.25%, which was at the wider end of expectations for the high-risk trade. The UK lender was heard to have amassed some US $10 billion in orders for the deal, which is perpetual but callable in five years.

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