Latest Business News Wires - Business Headlines


  • Power struggle blights Libya's chaotic main airport Tuesday, 29 Apr 2014 | 9:02 AM ET

    TRIPOLI, April 29- With a bomb on the runway, pets boarding planes and passengers jetting off without visas, Tripoli International Airport typifies the chaos that has gripped Libya since the 2011 ouster of Muammar Gaddafi.

  • *Twitter to report earnings after market close. *EU sanctions 15 politicians, military leaders over Ukraine. NEW YORK, April 29- Wall Street was set for a higher open on Tuesday following a batch of earnings that were better than expected.

  • April 29- MoneyGram International Inc, the world's second-largest money transfer company, slashed its forecast for the year on fears of competition from Wal-Mart Stores Inc.. The world's largest retailer had said earlier this month it would launch a money transfer service called " Walmart -2- Walmart".

  • *South Africa is EU's top citrus supplier in summer months. The European Union, which buys 1 billion euros of South African citrus exports every year, banned mainly oranges, lemons, and tangerines from South Africa late last year because of a fungal disease found in shipments.

  • April 29- Target Corp, which is recovering from a massive data breach, on Tuesday named high-profile information technology consultant Bob DeRodes as chief information officer. Target, the third-largest U.S. retailer, said it was still looking for a chief information security officer and a chief compliance officer.

  • MANCHESTER/ CAMBRIDGE, England, April 29- It's mega strong, ultra light and super stretchy, and if things work out, a wonder material discovered in Britain could change many aspects of human existence- starting with peoples' sex lives.

  • BERLIN, April 29- German annual inflation accelerated in April, preliminary data showed, potentially pushing up the euro zone rate but economists said the lower-than-expected increase would complicate the European Central Bank's dilemma on whether to act.

  • SHANGHAI, April 29- SAIC Motor Corp, China's biggest automaker, posted a 12.6 percent rise in first-quarter earnings, helped by healthy sales growth at its ventures with Volkswagen AG and General Motors Co.

  • April 29- Amicus Therapeutics Inc said its lead drug was effective in treating patients with an inherited disease that leads to the accumulation of fat in body cells, sending its shares up as much as 50 percent before the bell. Amicus Therapeutics is testing the drug in another late-stage study for the same indication.

  • *Q1 operating profit 2.9 bln euros vs 2.3 bln a year ago. BERLIN, April 29- Record sales of luxury Audis and Porsches boosted Volkswagen's operating profit 22 percent in the first quarter, and analysts said they expected the German carmaker to revise its full-year earnings guidance upwards.

  • April 29- Encana Corp, Canada's largest natural gas producer, said it had agreed to sell about 90,000 net acres in east Texas for about $530 million to an undisclosed buyer, as part of a plan to cut its dependence on low-value natural gas.

  • DETROIT, April 29- Mercedes is recalling about 284,000 of its C-Class sedans in the United States and Canada because an electrical issue could cause the tail lights to dim or fail, according to the company and documents filed with U.S. safety regulators.

  • *WH Group's decision comes after slashing planned offer size. HONG KONG, April 29- China's WH Group Ltd, the world's biggest pork company, has postponed its planned Hong Kong initial public offering due to weak demand for the deal even after it cut the offer size by two-thirds, sources said on Tuesday.

  • April 29- Standard& Poor's owner McGraw Hill Financial Inc reported a 62 percent rise in quarterly profit, driven mainly by its indices business and Platts, its energy and metals information provider.

  • April 29- Boston Scientific Corp reported a better-than-expected adjusted profit in the first quarter, helped by higher sales of its heart catheters and pain-relieving devices, and raised its adjusted earnings forecast for the full year.

  • PARIS, April 29- French carmaker PSA Peugeot Citroen launched the second stage of a long-awaited 3 billion euro capital increase to fund its "Back in the Race" recovery plan and tie-up with China's Dongfeng.

  • April 29- Energy Future Holdings, a Texas power company, filed for bankruptcy protection on Tuesday, seven years after its record leveraged buyout stacked it with debt just as prices for its electricity plunged. The company said it entered bankruptcy with significant deals in place with creditors that would eliminate approximately $40 billion in debt.

  • Encana to sell some Texas gas assets for $530 mln Tuesday, 29 Apr 2014 | 8:15 AM ET

    April 29- Encana Corp, Canada's largest natural gas producer, said on Tuesday it had agreed to sell about 90,000 net acres in east Texas for about $530 million to an undisclosed buyer.

  • April 29- Sprint Corp, the No. 3 U.S. mobile provider on Tuesday reported an increase in quarterly revenue in line with analysts' expectations, due to a new billing plan that lowered wireless expenses. The company, which is 80 percent owned by Japan's SoftBank Corp, said it lost 467,000 net subscribers in the quarter.

  • April 29- Auto parts supplier TRW Automotive Holdings Corp reported better-than-expected quarterly results, driven by a 16 percent rise in sales in China, and the company also raised its full-year revenue forecast.