Latest Business News Wires - Business Headlines


  • KIEV, Feb 26- Ukraine has asked the International Monetary Fund to help prepare a new financial aid programme, its central bank chairman said on Wednesday, adding that the new government would soon have its own anti-crisis programme ready.

  • Delta to award miles based on your ticket price Wednesday, 26 Feb 2014 | 9:11 AM ET

    Delta Air Lines said it would make a major change to its frequent flier program, based on how much customers spend rather than the distance traveled.

  • KIEV, Feb 26- Ukraine's central bank does not plan to intervene in the foreign currency market to defend the country's currency in the coming days, the bank's governor, Stepan Kubiv, said on Wednesday. Earlier in the day, a senior official at the central bank said it had abandoned a managed exchange rate policy in favour of a flexible currency..

  • Feb 26- Logistics company UTi Worldwide Inc said it had breached some debt covenants and would report a loss for the fourth quarter due to lower demand for air freight and higher costs. UTi also said it would have to raise about $525 million in additional capital to pay off debt of at least $400 million that could come due in April.

  • *Fourth-qtr adjusted profit $1.34/ shr vs est $1.03. Feb 26- Teen apparel retailer Abercrombie& Fitch Co reported higher-than-expected quarterly profit and revenue in the holiday quarter as discounts helped win back young shoppers and the company cut costs.

  • US STOCKS-Wall St set to open higher, S&P 500 near record Wednesday, 26 Feb 2014 | 9:00 AM ET

    *S&P 500 has been unable to close at a record this week. NEW YORK, Feb 26- U.S. stock index futures pointed to a slightly higher open on Wall Street Wednesday, indicating the S&P 500 would again make a run at record levels that have been serving as resistance.

  • Cablevision loses video subscribers in fourth quarter Wednesday, 26 Feb 2014 | 8:53 AM ET

    Feb 26- Cablevision Systems Corp lost 18,000 video subscribers in the fourth quarter but reported an increase in cash flow and revenue from a year earlier, when it dealt with Superstorm Sandy. Net income was $51.8 million, or 19 cents per share, down from $116.54 million, or 45 cents a share.

  • LONDON, Feb 26- Three former Barclays traders appeared in a London court on Wednesday charged with running a two-year scheme to manipulate Libor benchmark interest rates.

  • Feb 26- Struggling department store operator Sears Canada Inc posted a fall in quarterly sales, citing severe winter weather and power outages in the holiday shopping season.

  • Barnes & Noble quarterly revenue falls 10.3 percent Wednesday, 26 Feb 2014 | 8:43 AM ET

    Feb 26- Barnes& Noble Inc, the largest U.S. bookstore chain, on Wednesday reported a profit for the holiday quarter, despite a drop in revenue, as it lowered its Nook digital business costs. The bookseller said revenue fell 10.3 percent to $2 billion in the third quarter ended Jan. 25 as sales of Nook digital books and devices dropped by more than half.

  • LONDON, Feb 26- The tremors caused by the explosion in U.S. physical aluminium premiums have reached the other side of the world. The opening producer salvoes in the quarterly negotiations are coming in at $370- 375 per tonne over LME cash. That compares with $255- 256 for the January- March 2014 period.

  • BRASILIA, Feb 26- Brazil will likely raise interest rates for the eighth straight time on Wednesday but slow the pace of monetary tightening as inflation eases and Latin America's largest economy flirts with recession. A smaller rate hike would be a relief to Rousseff, who has watched Brazil's economy slow to a crawl since taking office in January 2011.

  • SINGAPORE/ MELBOURNE, Feb 26- Australia is turning into a playground for global oil traders, who are snapping up storage tanks and terminals as they bet on it to become Asia's top importer of oil products as demand rises and old, inefficient refineries close.

  • *Fourth-quarter adj profit $0.27/ share vs est $0.41. Feb 26- Chesapeake Energy Corp said it planned to cut drilling and well-completion costs by nearly $900 million in 2014 after reporting quarterly results that missed analysts' estimates.

  • *Expected to post 8 bln stg 2013 loss. LONDON, Feb 26- Royal Bank of Scotland's new chief executive will unveil his turnaround strategy for the part-nationalised lender on Thursday after announcing 2013 results expected to show an 8 billion pound loss.

  • LONDON, Feb 26- The Australian dollar fell on Wednesday as a continuing slide in the Chinese yuan highlighted concerns about a slowdown in Australia's top export market, while the U.S. dollar edged higher ahead of testimony by Federal Reserve Chair Janet Yellen.

  • SIMFEROPOL, Ukraine/ KIEV, Feb 26-- President Vladimir Putin put Russian combat troops on high alert for a drill on Wednesday, the Kremlin's most powerful gesture yet after days of sabre rattling since its ally Viktor Yanukovich was toppled as president of Ukraine.

  • NEW YORK, Feb 26- Target Corp's net profit almost halved in the holiday quarter as the third-largest U.S. retailer dealt with the fallout of a massive data breach and warned that costs related to the event could hurt future profits.

  • Feb 26- Teen apparel retailer Abercrombie& Fitch Co reported higher-than-expected quarterly profit and revenue as discounts helped win back young shoppers and the company cut costs. Abercrombie's net income fell to $66.1 million, or 85 cents per share, in the fourth quarter ended Feb. 1 from $157.2 million, or $1.95 per share, a year earlier.

  • LUXEMBOURG, Feb 26- China's yuan currency is gaining importance in international trade and investment and might ultimately challenge the U.S. dollar, European Central Bank Executive Board member Yves Mersch said on Wednesday.