Latest Business News Wires - Business Headlines


  • WASHINGTON, July 2- Bangladesh has to do more to improve factory conditions and workers rights in order to have U.S. trade benefits restored, the U.S.

  • NEW YORK, July 2- Venture capitalist Tim Draper was the sole winner of an auction last week of 30,000 bitcoins by the U.S. Marshals Service auctioned off 29,655 bitcoin at an estimated worth of about $18 million in an online, sealed-bid auction that drew more than 40 bidders, including a number of well-known players in the crypto-currency.

  • July 2- Troubled lender Doral Financial Corp said an appeals court in Puerto Rico reversed a lower court's ruling that it lacked jurisdiction to hear a case stemming from its tax dispute with the island's government.

  • NEW YORK, July 2- Prosecutors avoided the dismissal of the last remaining count against Rengan Rajaratnam on Wednesday, a day after a federal judge tossed the primary fraud charges against Galleon Group founder Raj Rajaratnam's younger brother.

  • Boeing gets $2.8 bln contract from NASA Wednesday, 2 Jul 2014 | 1:30 PM ET

    The agreement comes as NASA and Boeing complete the Critical Design Review on the core stage, the last major review before full production begins, Boeing said.

  • NEW YORK, July 2- Crude oil fell about $1 on Wednesday on encouraging signs for supply from Libya and Iraq, with prices headed toward the lowest close in almost three weeks despite support from a big draw in U.S. oil inventories.

  • WASHINGTON, July 2- A U.S. Senate panel's probe into General Motors Co's botched handling of faulty ignition switches that have been tied to at least 16 fatal car crashes will continue with a second hearing on July 17.

  • July 2- Kroger Co said on Wednesday it would buy Vitacost.com Inc, a health products retailer, for about $280 million in a bid to expand its presence in the profitable health and wellness niche popularized by Whole Foods Market Inc..

  • NEW YORK, July 2- The year's best performing large-cap growth fund is run by a Charlotte, North Carolina- based manager who is more likely to bargain-hunt than chase the latest hot stock. He's done that by adding companies such as Apple Inc, Halliburton Co and Akamai Technologies Inc after the shares of each suffered a short-term drop.

  • UPDATE 3-Orange drops out of French mobile deal talks Wednesday, 2 Jul 2014 | 12:32 PM ET

    Third-place mobile carrier Bouygues has become a target after losing out in a bidding war in April to buy bigger rival SFR to cable group Numericable. A purchase of Bouygues by Orange would likely have required a parallel deal with Iliad, which would buy Bouygues' network and mobile frequencies, to overcome competitive concerns.

  • WASHINGTON, July 2- U.S. private-sector hiring hit a 1-1/ 2- year high in June, reinforcing views that momentum was building to carry the economy through the rest of the year after a dismal start.

  • Gold prices and other benchmarks have come under scrutiny, with banks fined $6 billion for rigging the Libor interest rate, used to price a range of financial products. Four banks-- the Bank of Nova Scotia, Barclays, HSBC, and Societe Generale-- talk twice a day to each other on the telephone to "fix" the gold price that is used as a benchmark across the world.

  • First-half investment bank fees at highest since 2007 Wednesday, 2 Jul 2014 | 11:51 AM ET

    *JPMorgan tops league table, earns fees of $3.4 bln. Global investment banking fees totalled $47.1 billion in the first six months of the year, compared to $42.2 billion last year, according to data from Thomson Reuters and Freeman Consulting. They were up 6 percent in the Americas and down 15 percent in Africa and the Middle East.

  • U.S. small business hiring increases in June -NFIB Wednesday, 2 Jul 2014 | 11:49 AM ET

    WASHINGTON, July 2- U.S. small businesses increased hiring in June for the ninth consecutive month, adding to signs the labor market is strengthening. The National Federation of Independent Business, which reported the figures on Wednesday, said that was longest stretch of increases since 2006..

  • MOSCOW, July 2- Gazprom has appointed a new head of its export division, effectively the world's most powerful gas trader: Elena Burmistrova, who was swiftly ushered in to talks with President Vladimir Putin.

  • BUENOS AIRES, July 2- Argentina will press a U.S. judge to unfreeze a coupon payment to holders of the country's restructured debt as a condition for negotiating with' holdout' creditors suing for full repayment, a government official said on Wednesday.

  • WASHINGTON, July 2- Monetary policy faces "significant limitations" as a tool to address financial stability risks, and would have caused major economic damage if it had been used to head off the U.S. housing bubble, Federal Reserve Chair Janet Yellen said on Wednesday.

  • BEIJING, July 2- China's Premier Li Keqiang said on Wednesday downward pressure still existed in its economy despite it operating within a reasonable range and some leading indicators demonstrating a positive trend.

  • BRUSSELS/ FRANKFURT, July 2- European regulators have cleared Telefonica's bid to consolidate the German mobile market by buying smaller rival KPN's E-Plus for 8.6 billion euros, raising prospects of more deals to come across Europe's telecoms markets.

  • LONDON, July 2- Oil fell below $112 a barrel on Wednesday, heading for its lowest close in almost three weeks, on a possible substantial recovery in Libyan exports after rebels said they would reopen two oil terminals. The port seizures have crippled the OPEC producer's oil industry since last summer.