Latest Business News Wires - Business Headlines


  • NEW YORK, March 1- Warren Buffett's Berkshire Hathaway Inc on Saturday signaled he plans to make more large acquisitions to expand a conglomerate that posted a record profit in 2013, helped by a recovering U.S. economy.

  • UPDATE 1-Russia warns Ukraine may lose gas discount Saturday, 1 Mar 2014 | 9:11 AM ET

    MOSCOW/ KIEV March 1- Russia issued several warnings on Saturday that Ukraine may lose a discount to the gas price it now pays to Gazprom due to Kiev's outstanding gas debt. Russia's state gas company Gazprom estimates Ukraine's outstanding gas debt at $1.55 billion for 2013 and gas deliveries so far this year.

  • Berkshire Hathaway posts record profit in 2013 Saturday, 1 Mar 2014 | 8:25 AM ET

    NEW YORK, March 1- Warren Buffett's conglomerate Berkshire Hathaway posted a record profit in 2013, jumping 31 percent over the previous year, the company said in its annual report, released on Saturday. Net income rose to $4.99 billion in the fourth quarter, or $3,035 per Class A share, from $4.55 billion, or $2,757 per share, a year earlier.

  • KIEV, March 1- Ukraine is unlikely to receive financial assistance from the International Monetary Fund before April, Ukrainian Finance Minister Oleksander Shlapak was quoted as saying on Saturday. Ukraine, which faces a further $6 billion in foreign debt payments this year, has asked the IMF for financial assistance of at least $15 billion.

  • Gap Inc seeks new berth in China with Old Navy Saturday, 1 Mar 2014 | 4:26 AM ET

    SHANGHAI, March 1- When Gap Inc began an online campaign ahead of the launch its Old Navy label in China, the iconic U.S. clothes retailer posed an important question to its potential Chinese consumers: have you heard of Old Navy?

  • Fiat's UK-style revival plan faces Italian hurdles Saturday, 1 Mar 2014 | 4:00 AM ET

    *To unveil cabriolet version of Alfa Romeo 4 C coupe at Geneva car show. MILAN/ PARIS, March 1- Idle plants, surly unions and a weak, ageing model line-up- the challenges facing Fiat Chrysler's Italian revival sound a lot like the British car industry's low point in 1982..

  • *Obama warns Russia over reports of military movements. *Ukraine accuses Russia, Moscow denies involvement. President Barack Obama has warned Russia against any military intervention in Ukraine after the country's new leaders accused Moscow of deploying forces in the Crimea region.

  • In a filing in U.S. Bankruptcy Court, Syncora Guarantee Inc warned that lawsuits will be filed over the Detroit Institute of Arts' collection, which the city is not selling at this point to help pay its $18 billion in debt.

  • SEOUL, March 1- South Korea's exports in February grew at a weaker-than-expected pace, government data showed on Saturday, suggesting sluggish growth conditions for the trade-reliant country amid renewed jitters about the health of the global economy.

  • SAN FRANCISCO, Feb 28- Google Inc on Friday lost its bid to keep an anti-Islamic film on its YouTube video sharing website while it appealed a federal appeals court order that the company said would have "devastating effects" if allowed to stand.

  • SAN FRANCISCO, Feb 28- A U.S. appeals court on Friday rejected Google's request to put on hold an order requiring the company to remove an anti-Islamic video from YouTube while litigation around the issue continued.

  • WASHINGTON, Feb 28- Generic drugmakers are furiously campaigning against a proposed U.S. rule that would require them to change the prescribing information on their products if they receive new safety information, which they say would open them to product liability lawsuits.

  • *Obama steps into Ukraine- Russia tension over Crimea. WASHINGTON, Feb 28- President Barack Obama warned Russia on Friday that military intervention in Ukraine would lead to "costs," as tension with old foe President Vladimir Putin rose in a Cold War-style crisis.

  • NEW YORK, Feb 28- Commodity revenues fell nearly 40 percent at Morgan Stanley and remained flat at Goldman Sachs Group Inc last year, according to filings from the two biggest Wall Street commodities players that face a changing regulatory landscape.

  • SEOUL, March 1- Following are South Korea's preliminary export and import figures for February, released by the Ministry of Trade, Industry and Energy on Saturday:. FEB* JAN Balance 0.9 0.8 Exports 43.0 45.6 +1.6 -0.2 Imports 42.1 44.8 +4.0 -1.0* Revised figures released on Feb 14.

  • DIARY - Government Debt auctions to Apr 29 Friday, 28 Feb 2014 | 7:03 PM ET

    DIARY- Central& Eastern Europe debt.

  • DIARY - Top economic Events to Mar 14 Friday, 28 Feb 2014 | 7:01 PM ET

    Treasury Secretary Jacob Lew speaks at the of the American Israel Public Affairs Committee Policy Conference 2014- 2200 GMT. BRUSSELS- ECB President Mario Draghi will give introductory remarks at the Quarterly Hearing before the Committee on Economic and Monetary Affairs of the European Parliament in Brussels, Belgium- 1400 GMT.

  • NEW YORK, Feb 28- Uniqlo parent Fast Retailing Co Ltd and South Korean fashion conglomerate E. Land Group are separately exploring a deal for large U.S. apparel chain J. Crew Group Inc, people familiar with the matter said on Friday.

  • Feb 28- Blackstone Group LP Chief Executive Stephen Schwarzman's earnings from dividends and pay soared by 75 percent to $374.5 million in 2013, underpinning his firm's strong profits in real estate, private equity, credit and hedge funds, the company's annual report showed on Friday.

  • VANCOUVER, Feb 28- U.S. environmental regulators moved on Friday to block development of the Pebble mine in Alaska, which could be one of the largest copper projects in the world, citing potential "irreversible harm" to the state's salmon fishery.