Latest Business News Wires - Business Headlines


  • *Palladium rises above $900 on supply worries. NEW YORK/ LONDON, Aug 29- Palladium rose to a fresh 13-1/ 2- year high on Friday on worries over uncertain supplies from Russia, the world's largest producer of the metal, while gold prices eased on a dollar rise and gains in U.S. equities.

  • Financial daily Les Echos reported on Friday that negotiations, which first began before a planned $35 billion merger of Publicis and Omnicom Group Inc was unveiled in July 2013, restarted three months ago after the Omnicom deal fell through.

  • NEW YORK, Aug 29- U.S. stocks edged higher in a quiet session on Friday as the latest in a string of positive data pushed investors to extend a rally that had been briefly threatened by overseas concerns, although gains were capped ahead of an extended holiday weekend.

  • Aug 29- Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PetroChina Co Ltd for $1.18 billion. Athabasca said it received $600 million in cash and $584 million in three interest-bearing promissory notes from the unit, Phoenix Energy Holdings Ltd..

  • The crisis in eastern Ukraine has emboldened Europe and the United States to impose broad sanctions on Russia. But Europe finds itself in a precarious position, with almost a third of the natural gas the continent consumed in 2013 flowing from Russia, according to the U.S. Energy Information Administration.

  • REYKJAVIK/ STOCKHOLM, Aug 29- Iceland said a small volcanic eruption in the Bardarbunga volcano system that started in the early hours of Friday had stopped and it had lifted all airspace restrictions.

  • Aug 29- Four Atlantic City casinos are closing this year, but not all of their gamblers will return to visit eight others that have survived in the down-on-its-luck New Jersey resort. The casinos remaining open in Atlantic City are likely, however, to garner about 60 percent of the revenues that had been generated by the four closing casinos, Bumazhny said.

  • PARIS, Aug 29- French low-cost telecoms carrier Iliad is ahead of schedule on its 2015 goal to reach annual sales of 4 billion euros and will probably have 15 percent mobile market share by the end of this year, its finance chief said.

  • TOGLIATTI, Russia, Aug 29- AvtoVAZ, the Russian carmaker controlled by Renault-Nissan, may bring some parts production in-house as it struggles to get more competitive pricing and stamp out corruption in its local supply chain, senior executives said.

  • The challenges highlight the difficulties that bailed-out Banco Espirito Santo and its successor Novo Banco face as they try to recover some of the family's massive debts.


  • BRASILIA, Aug 29- Brazil's central bank will very likely leave interest rates unchanged next week despite a recently confirmed recession, avoiding any potential controversy in the final month of a tense presidential race, a Reuters poll showed on Friday.

  • NEW YORK, Aug 29- Crude oil prices were headed toward their second straight monthly losses, despite rising on Friday on worries that the intensifying Ukraine crisis may bring more sanctions and as U.S. data portended strong demand in the world's largest oil consumer.

  • WASHINGTON, Aug 29- The regulator for U.S. housing finance giants Fannie Mae and Freddie Mac.

  • The success is therefore a "monumental achievement," virologist Thomas Geisbert of the University of Texas Medical Branch wrote in a commentary on the paper, published online in Nature.

  • MEXICO CITY, Aug 29- Mexican bread maker Grupo Bimbo, the world's largest baker and maker of Entenmann's cakes and Oroweat bread among other brands, said on Friday it is planning to sell new shares in Mexico and abroad, marking its first foreign listing.

  • *FTSEurofirst 300, Euro STOXX 50 up 0.3 pct. *Euro STOXX 50 posts biggest monthly gain since Feb. LONDON, Aug 29- European shares eked out small gains in thin, choppy trade on Friday, helping one key euro zone index of blue chips record its biggest monthly rise since February.

  • WASHINGTON, Aug 29- U.S. consumer spending fell in July for the first time in six months, but confidence among households hit a seven-year high in August, suggesting the retrenchment would be temporary.

  • Telecom Italia in a bind after losing GVT bid battle Friday, 29 Aug 2014 | 12:45 PM ET

    PARIS/ LONDON/ MILAN, Aug 29- Telecom Italia has lost a promising path to earnings growth by failing to secure Brazilian broadband business GVT and may now turn from hunter to hunted in a fast-consolidating telecoms industry.

  • LONDON, Aug 29- Copper edged higher on Friday as the euro steadied, but prices were still on track for their biggest monthly loss since March on worries that rising tensions in Ukraine could set back global growth and hit metals demand.