Latest Business News Wires - Business Headlines


  • May 2- Acorda Therapeutics Inc said the U.S. Food and Drug Administration rejected its nasal form of the current standard therapy for epilepsy patients who experience repetitive seizures.

  • May 2- LinkedIn Corp's full-year revenue forecast fell short of market expectations, prompting at least 14 brokerages to cut their price targets on the stock. Shares of LinkedIn, which connects professionals with prospective employers, trade at 84.6 times forward earnings.

  • ZURICH/ WASHINGTON, May 2- Switzerland's finance minister was set to meet Eric Holder, the U.S. attorney general, in Washington on Friday to discuss a tax-evasion probe into Swiss banks by U.S. authorities, a Swiss ministry spokesman said.

  • May 2- Shares of Ares Management LP, the first U.S. private equity firm to go public in about two years, fell as much as 5.3 percent in their trading debut on Friday, adding to the list of underperforming IPOs over the past month. The company's shares fell to a low of $18 in early trading on the New York Stock Exchange, $1.00 below their offer price.

  • *Dollar up, Wall Street higher. *Russia, Ukraine crisis keeps caution high. NEW YORK, May 2- Early stocks gains on Wall Street faded and investors retreated to long-dated government debt on Friday, as enthusiasm over strong headline U.S. jobs growth was undercut by flat wages and a decline in the number of people looking for work.

  • *Astrazeneca rejects Pfizer's raised bid of $106 bln. While the report provided an encouraging read on the labor market, many market participants said Wall Street's gains over the week made further advances unlikely.

  • UPDATE 2-Crude oil reliance dents Chevron's profit Friday, 2 May 2014 | 11:08 AM ET

    May 2- Sliding production and weak crude oil prices hampered Chevron Corp in the first quarter, leading the second-largest U.S. oil producer, to report a profit well below Wall Street's expectations.

  • LONDON, May 2- Mergers and acquisitions worth more than $5 billion have quadrupled in number so far this year from a year ago, marking the strongest first four months of the year for so-called megadeals since 2007, data showed on Friday.

  • LONDON, May 2- U.S. drugmaker Pfizer Inc's effort to sweeten its bid for Britain's AstraZenaca Plc with commitments on research, manufacturing and jobs is claimed as a coup by the UK government, but many are deeply sceptical.

  • M&A helps keep European stock rally alive Friday, 2 May 2014 | 10:59 AM ET

    *Deutsche Telekom, Bouygues, Iliad up on M&A talk. Deutsche Telekom was the top gainer among European blue-chips. It rose 1.9 percent on talk Sprint Corp has approached banks to work out funding for its bid for T-Mobile US Inc, which is majority-owned by the German telecom operator.

  • *Ukraine prepared to pay if Russia lowers its gas price. WARSAW, May 2- Russia on Friday threatened to cut natural gas supplies to Ukraine in June if it receives no prepayment in an escalating row between Moscow, Ukraine and the European Union over energy supplies.

  • OTTAWA, May 2- Canada is not considering a NAFTA challenge after the United States once again delayed its decision on approving TransCanada Corp's controversial Keystone XL pipeline, Natural Resources Minister Greg Rickford told reporters on Friday. In recent weeks, some senior former officials in Canada have said that if U.S.

  • LONDON, May 2- British house prices have risen by about 10 percent over the past year and in London, gains are about double that rate. Top Bank of England officials have sounded more worried about the prospect of a new bubble in recent days, raising the possibility of new measures when the Bank's Financial Policy Committee meets next month.

  • LONDON, May 2- The Bank of England's starkest warning so far about Britain's booming house prices is likely to be followed by cautious measures, possibly as soon as next month, as policymakers test out their new powers.

  • Rush to list stocks stirs memories of tech bubble Friday, 2 May 2014 | 10:47 AM ET

    *Big inflows fail to rouse equity markets; IPOs absorb cash. LONDON, May 2- Firms are queuing up to list on equity indexes, sucking cash from existing listed stocks and fuelling worries that these high flotation volumes could be signalling an impending market fall.

  • *New 5- year plan to be presented in Detroit on May 6. MILAN, May 2- Newly-merged Fiat Chrysler will unveil its long-awaited five-year plan on Tuesday, with chief executive Sergio Marchionne under pressure to show he can translate years of canny dealmaking into a thriving global autos business.

  • TORONTO, May 2- News Corp said on Friday it would buy romance novel publisher Harlequin Enterprises Ltd from Canadian newspaper company Torstar Corp for C $455 million in cash in a move to boost its non-English book publishing.

  • *Astrazeneca rejects Pfizer's raised bid of $106 bln. The payrolls gain of 288,000 was the largest since January 2012 and beat Wall Street's expectations for an increase of just 210,000..

  • May 2- Aircraft components maker Spirit AeroSystems Holdings Inc reported quarterly results way above analysts' estimates as its customers, Boeing Co and Airbus Group NV, boosted production to meet surging demand for large planes. Shares of Spirit Aero, spun off from Boeing in 2005, rose as much as 6 percent on Friday morning.

  • Google faces lawsuit on mobile internet search Friday, 2 May 2014 | 10:20 AM ET

    A consumer rights law firm said it filed a lawsuit against Google alleging the company "illegally monopolized" the Internet and mobile search market.