Latest Business News Wires - Business Headlines


  • Investors wary of commodity gains despite new money Wednesday, 26 Feb 2014 | 11:28 AM ET

    LONDON, Feb 26- A new burst of investment in commodities after a hellish 2013 is expected to fizzle out in coming months, with investors alert to the fickle nature of rallies across basic resources such as gold and agriculture.

  • FOREX-Dollar gains on tensions in Russia, Ukraine Wednesday, 26 Feb 2014 | 11:27 AM ET

    NEW YORK, Feb 26- The dollar rose to its highest in two weeks against a basket of major currencies on Wednesday, as investors sought the greenback's safety on continued geopolitical tensions in Russia and Ukraine.

  • CHICAGO, Feb 26- As an Amazon Prime customer since December 2012, Michelle Huffman of Milwaukee has gladly paid the annual $79 fee for the perk of free two-day shipping on items ranging from tea and cookbooks to DVDs and Nestle Smarties.

  • *China end-use demand slow to recover after holiday- CRU. LONDON/ SYDNEY, Feb 26- Copper prices slipped to a three-week low on Wednesday as worries about credit curbs on top consumer China's property developers fed into wider concerns about global demand for the metal.

  • *Fourth-quarter adj profit $0.27/ share vs est $0.41. Feb 26- Chesapeake Energy Corp reported quarterly results that missed Wall Street estimates by a wide margin because of weak production, sending its shares sharply lower on Wednesday. Chesapeake's stock fell as much as 8 percent on the New York Stock Exchange on Wednesday morning.

  • Feb 26- Delta Air Lines Inc said on Wednesday it would make a major change to its frequent-flier program, basing the number of miles earned toward free flights on how much customers spend rather than the distance traveled. Atlanta- based Delta said the new program would favor "frequent business travelers" and leisure fliers who buy tickets at higher fares.

  • LONDON, Feb 26- The discount between U.S. crude and North Sea Brent shrank on Wednesday to its lowest since early October, with data showing the fourth consecutive weekly drop in inventories at the Cushing, Oklahoma delivery hub.

  • *FTSEurofirst 300 down 0.3 pct, Euro STOXX 50 down 0.3 pct. Credit Suisse was also in the spotlight, down 2.8 percent as a U.S. Senate subcommittee alleged new misdeeds by the Swiss lender.

  • Hackers target Brazil's World Cup for cyber attacks Wednesday, 26 Feb 2014 | 10:58 AM ET

    SAO PAULO, Feb 26- Brazilian hackers are threatening to disrupt the World Cup with attacks ranging from jamming websites to data theft, adding cyber warfare to the list of challenges for a competition already marred by protests, delays and overspending.

  • *Forecasts 2014 earnings of $2.15- $2.35/ share vs est. *Fourth-qtr adjusted profit $1.34/ share vs est. Feb 26- Teen apparel retailer Abercrombie& Fitch Co said it would reduce prices this year to deal with intense competition, after the company reported higher-than-expected quarterly revenue mainly due to discounting.

  • *Estimates fourth-quarter loss of 33- 38 cents/ shr. 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 a weak air freight market, sending its shares down as much as 28 percent in early trading.

  • WASHINGTON, Feb 26- The United States will provide assistance to Georgia to promote visa-free travel to the European Union to help the former Soviet republic integrate more with the West, Secretary of State John Kerry said on Wednesday. Kerry did not elaborate on the plan, which comes amid efforts by Georgia to increase trade and investment with the West.

  • NEW YORK, Feb 26- The Manhattan U.S. The office of Preet Bharara subpoenaed Mt. Gox, which halted customer withdrawals on Feb. 7 in response to what it termed "unusual activity."



  • *Target and Lowe's rally after results. NEW YORK, Feb 26- U.S. stocks were mostly flat on Wednesday as, for a third straight session, equities were unable to hold onto gains that took the S&P 500 near record levels.

  • U.S. SEC's newest enforcement weapon: powerful software Wednesday, 26 Feb 2014 | 10:13 AM ET

    The SEC has embarked on a multi-year deal, worth more than $13 million, to use Palantir to help the agency crunch massive amounts of data, the sources said.

  • TUNIS, Feb 26- Tunisia expects a record high 7 million tourists to visit this year as the country that inspired the Arab Spring revolts enjoys political stability for the first time since the uprising three years ago, the tourism minister said.

  • UPDATE 2-Lowe's outperforms Home Depot in stormy quarter Wednesday, 26 Feb 2014 | 10:13 AM ET

    Feb 26- Lowe's Cos Inc reported strong growth in quarterly sales, showing that the No. 2 U.S. home improvement retailer was narrowing the gap with market leader Home Depot Inc.. Home Depot on Tuesday reported a 3 percent decline in sales in the same period, which was marked by winter storms and record cold in much of North America.

  • NEW YORK, Feb 26- Apple Inc urged a U.S. appeals court to throw out a judge's "radical" finding that it violated antitrust law by manipulating electronic book prices, and blamed publishers for running a conspiracy it claimed to know nothing about.