Latest Business News Wires - Business Headlines


  • MUMBAI, April 7- The political party expected to lead India's next government confirmed on Monday it would ban foreign supermarkets from the $500 billion retail sector, a move that would deal a fresh setback to global chains such as Wal-Mart and Carrefour.

  • GOOGLE: Google Inc built its business with its Web search engine, but more than any other Internet company, it has led the way in expanding to new horizons. In February, Google announced plans to acquire Nest, which makes smart thermostats and smoke alarms.

  • BEIJING, April 7- China is going to avoid going down the "familiar path" of resorting to large stimulus measures for the economy, and there is no sign of a shift in monetary and fiscal policy, state news agency Xinhua wrote in a commentary on Monday.

  • Russia's RTS stock index down 3 percent on day Monday, 7 Apr 2014 | 6:53 AM ET

    MOSCOW, April 7- The RTS index of Russian stocks shed over 3 percent on Monday following growing unrest in eastern Ukraine.

  • *Investors unsure if China will take aggressive steps to support growth. LONDON, April 7- Copper steadied on Monday after falling to its lowest level in more than a week as investors nervously awaited signals from policymakers in top consumer China about monetary policy easing.

  • LONDON, April 7- Gold inched lower on Monday, steadying around $1,300 an ounce following its biggest one-day jump in three weeks, as investor worries about an early U.S. interest rate hike eased after a monthly jobs report failed to meet market expectations. Gold had endured heavy selling ahead of the data, hitting a seven-week low of $1,277.29 on Tuesday.

  • The Russian firm, part owned by Chief Executive Vladimir Potanin and aluminium giant Rusal, had to trim spending last year and focus on its lucrative Soviet-era operations in Russia's far north to cope with weak prices for its key metals.

  • ASTANA, April 7- Output at Kazakhstan's huge Kashagan oilfield may fail to restart this year if test results expected in May show cracks in the offshore part of its pipeline network, Kazakh Oil and Gas Minister Uzakbai Karabalin said on Monday.

  • *Audi has all-time monthly sales record in March. BERLIN, April 7- Audi is stepping up its challenge to unseat German rival BMW as global luxury-car sales champion, with recovering European demand and Chinese growth pushing its first-quarter deliveries to a record.

  • FRANKFURT, April 7- A deal struck by Ireland last year to ease the burden of its bank debt raises serious monetary financing concerns although they could be mitigated to some extent by bond sales tied to the debt swap, the ECB said on Monday.

  • *Gazprom Neft CEO says company not affected by sanctions. ST PETERSBURG, Russia, April 7- Gazprom Neft, the oil arm of Russia's Gazprom, has not been hurt by Western sanctions over Russia's annexation of Crimea but will move away from dollars in its contracts, and redirect oil flows to Asia, if needed.

  • ZURICH, April 7- Credit Suisse faces the threat of a new investigation into its role in helping wealthy Americans avoid paying taxes after New York state's top financial regulator requested documents from the Swiss bank.

  • LONDON, April 7- Britain's second largest steelmaker SSI UK said it expects to record its first ever profit this year and to add much needed jobs in England's north east, but added market conditions were tough and that its future was not yet secure.

  • KIEV, April 7- Ukraine's inflation grew 2.2 percent in February to March versus 0.6 percent in January to February, the country's state statistics service said on Monday. Inflation grew 3.4 percent in March year-on-year, it said. The World Bank has forecast inflation of 15 percent in 2014, falling to 10 percent next year.

  • *Japan, Australia deal clinch trade deal- Australian media. TOKYO, April 7- Japan and Australia clinched a basic trade deal to cut import tariffs, Australian media reported, as U.S. and Japanese officials stepped up efforts to reach a parallel agreement that would re-energise stalled talks on a broader regional pact.

  • MOSCOW, April 7- Norilsk Nickel, the world's top nickel and palladium producer, reported a 64 percent drop in its net profit on Monday, hit by write-offs due to weaker metals prices.

  • *Iran hopes draft accord will follow nuclear talks. *Tension rises in eastern Ukraine. Brent crude fell $1.32 to a low of $105.40 per barrel before recovering to around $105.55 by 0810 GMT, after ending the previous week 1.2 percent lower.

  • *Holcim will hold 53 pct of merged entity. PARIS, April 7- Switzerland's Holcim unveiled an all-share deal to buy France's Lafarge on Monday to create the world's biggest cement maker with combined sales of 32 billion euros. Shares in Lafarge rose 4 percent at the open, the top gainer on France's blue-chip CAC 40 index, while shares in Holcim were up 5.4 percent.

  • *Holcim, Lafarge climb after confirming merger deal. PARIS, April 7- European stocks dropped in early trading on Monday, halting a three-week rally and tracking a sell-off on Wall Street on Friday where a number of high-growth companies mostly in the tech and biotech sectors tumbled.

  • HONG KONG, April 7- Hong Kong shares ended lower on Monday, pulled down by index heavyweight Tencent as the Internet firm tracked a slide in tech stocks on Wall Street, while casino operators also fell. Shares in Chinese Internet company Tencent slipped 4.5 percent to its lowest close since Jan. 27, while software firm Kingsoft fell 6.2 percent.