Latest Business News Wires - Business Headlines


  • Feb 20- Caterpillar Inc said on Thursday that sales of its construction equipment had surged in recent months, driven by an especially large jump in demand in North America, where a series of severe winter storms and arctic temperatures failed to keep builders out of dealer showrooms.

  • LONDON, Feb 20- JPMorgan Chase& Co's commodity revenues fell 12 percent last year, the bank said in a filing on Thursday, shedding new light on the unit as the bank prepares to sell its physical trading arm to Swiss-based trader Mercuria.


  • MILPITAS, Calif., Feb 20- Lottery officials were waiting on Thursday to hear from the holder of the single winning ticket for a $425.3 million Powerball prize bought in Northern California, a day after announcing the sixth highest jackpot drawing in U.S. history.

  • UPDATE 2-EU hits Ukraine with sanctions, threatens more Thursday, 20 Feb 2014 | 2:25 PM ET

    BRUSSELS, Feb 20- The European Union agreed on Thursday to impose sanctions on those responsible for deadly violence in Ukraine and warned it would ratchet up the pressure if the situation there got worse.

  • WASHINGTON, Feb 20- The White House announced steps on Thursday designed to reduce frivolous patent lawsuits by trying to make it easier to identify who owns patents and by updating review processes to ensure that fewer weak patents are granted.

  • Feb 20- Clothing and accessories retailer American Apparel Inc has tapped restructuring advisers after being bogged down by weakening sales and heavy debt, the Wall Street Journal reported, citing people familiar with the matter. American Apparel and Skadden could not immediately be reached for comment.

  • NEW YORK, Feb 20- Earlier this month, Eaton Corp Plc made an announcement that captured little attention: the diversified manufacturer of heavy truck transmissions and residential circuit breakers said it would spend a record $700 million this year on tooling and machinery.

  • Feb 20- Grover Norquist's trademark cause is fighting high taxes, but the conservative Republican lobbyist just scored a big win on another front- fighting unions- and he wants more, betting on what he sees as a broad shift in U.S. labor politics.

  • SAN FRANCISCO, Feb 20- A U.S. appeals court on Thursday revived a lawsuit against ConAgra Foods Inc over the amount of sodium the company discloses on sunflower seed packages.

  • TORONTO/ CALGARY, Feb 20- TransCanada Corp said on Thursday it is weighing how to proceed with its controversial Keystone XL pipeline after a U.S. legal setback, even as it pushes ahead with a far larger line that could bring oil sands crude to international markets.

  • DETROIT, Feb 20- Tesla Motors Inc has had "conversations" with Apple Inc, Chief Executive Elon Musk confirmed to Bloomberg TV on Thursday, responding to speculation that the iPhone and iPad maker had shown interest in the electric car company.

  • BRASILIA, Feb 20- Brazil set a more modest fiscal savings target for 2014 on Thursday in a bid to recover investors' credibility, but economists remain skeptical that President Dilma Rousseff will be able to deliver in an election year.

  • Experts say banks face write-downs of 20- 25 bln euros. By Valentina Za and Silvia Aloisi. MILAN, Feb 20- A drive by Italian banks to come clean on bad loans during a European bank health check may force them to raise as much as 20 billion euros in capital, three times more than that pencilled in so far, to shore up their balance sheets.

  • *Tesla shares soar after results, Wal-Mart falls. *Facebook to buy WhatsApp for $19 bln, shares flat. NEW YORK, Feb 20- U.S. stocks rose on Thursday after a reading on manufacturing activity hit a four-year high, more than offsetting other soft data and weak results from Wal-Mart.

  • WASHINGTON, Feb 20- A former director of Japan's Denso Corp has agreed to plead guilty to obstruction of justice in connection with a U.S. Justice Department probe into companies fixing the prices of automobile heater control panels, the department said on Thursday.

  • BOSTON, Feb 20- Fidelity Investments, the second-largest U.S. mutual fund company, said on Thursday that its fixed-income chief will lead the Boston firm's $1.9 trillion asset management division.

  • Transportation Secretary Anthony Foxx urged Congress on Thursday to show "a little political courage" and come up with long-term solution to pay for roads. "Congress is going to have to show a little political courage to face this problem," Foxx said.

  • NEW YORK, Feb 20- A man who served prison time for conning Hollywood stars and reputedly inspired Leonardo DiCaprio's performance in "The Wolf of Wall Street" was in federal court on Thursday facing charges that he used someone else's credit card to buy liquor, a plane ticket and food, according to court filings.

  • WASHINGTON, Feb 20- President Barack Obama's soon-to-be released budget proposal for the 2015 fiscal year drops a past offer to trim cost-of-living increases in Social Security, a White House official said on Thursday. Obama's budget drops a controversial change in how the government calculates inflation for Social Security and other federal benefits.