Latest Business News Wires - Business Headlines


  • March 3- Canada's Magna International Inc, one of the world's largest auto parts suppliers, posted a 31 percent jump in quarterly profit and raised its dividend. Magna said net income attributable to the company rose to $458 million, or $2.03 per share, in the fourth quarter ended Dec. 31 from $351 million, or $1.49 per share, a year earlier.

  • LONDON, March 3- Fears of full-fledged Russia- Ukraine war reverberated across emerging markets on Monday, with the hardest hit taken by Moscow, where stocks fell 10 percent and the rouble's plunge to record lows led to a surprise interest rate hike.

  • SEOUL, March 3- South Korea's president nominated a 61- year-old technocrat with a 35- year career inside the Bank of Korea as its next governor on Monday and people who worked with the former deputy bank chief said he would likely sharpen the bank's independence.

  • The Thomson Reuters/ PayNet Small Business Lending Index, which measures the volume of financing to small companies, rose to 117.2 in January, up 4 percent from a year earlier, PayNet said on Monday. "It was unexciting growth but it was growth nonetheless," PayNet founder Bill Phelan said.

  • BRUSSELS, March 3- The European Union is unlikely to match the United States in threatening sanctions against Russia when its foreign ministers meet to discuss Ukraine on Monday, instead pushing for mediation between Moscow and Kiev, officials say.

  • Gazprom warns Ukraine of gas price hikes Monday, 3 Mar 2014 | 4:44 AM ET

    LONDON, March 3- Russia's state gas producer Gazprom warned Ukraine on Monday that it may increase the gas price for Kiev after the first quarter. We are still thinking about whether to extend the pricing contract into the next quarter based on current prices, "said Andrei Kruglov, Gazprom's chief financial officer.

  • ABU DHABI, March 3- Etihad Airways is in the final phase of due diligence on its possible investment in Italian carrier Alitalia, the Abu Dhabi airline's chief executive James Hogan said on Monday. Speaking to reporters, he also said that for an investment to take place, Etihad would have to be convinced that Alitalia could be moved to profitability.

  • LONDON, March 3- British manufacturing grew more quickly than expected in February, adding to signs that the country's economic recovery is broadening out, and job creation in the sector hit a 33- month high, a survey showed on Monday.

  • *Russia hikes interest rate after rouble slide. *Copper falls to 3- month low on China slowdown concerns. LONDON, March 3- The rising threat of war between Ukraine and Russia spooked markets and sent investors scurrying for relative safety on Monday, pushing stocks down sharply and lifting gold to a four-month high.

  • NEW DELHI, March 3- India's defence ministry said on Monday it had ordered a bribery investigation over state-run Hindustan Aeronautics Limited's purchase of jet engines from Britain's Rolls-Royce Holdings in a deal worth at least $1.2 billion. No comment was immediately available from Rolls-Royce's office in India.

  • ABU DHABI, March 3- Etihad Airways posted a 48 percent leap in 2013 profit on Monday and predicted more growth this year, as the fast-expanding Abu Dhabi airline aims to develop its alliance network with a potential investment in Alitalia.

  • Etihad CEO gives 50-50 chance for Alitalia deal Monday, 3 Mar 2014 | 4:19 AM ET

    ABU DHABI, March 3- Etihad Airways' talks on investing in struggling Italian carrier Alitalia could swing either way and hinge on terms laid down by the Abu Dhabi- based airline, Etihad's chief executive said on Monday.

  • *Slide follows Putin's declaration of right to invade Ukraine. MOSCOW, March 3- Russian assets tumbled and the central bank hiked interest rates on Monday as markets took fright at the escalating tensions with neighbouring Ukraine.

  • Birmingham City Football Club boss Carson Yeung was found guilty by a Hong Kong court on Monday of five counts of money-laundering in a high-profile trial.

  • MOSCOW/ KIEV March 3- Ukraine has increased Russian natural gas imports over the last few days, a spokesman for Ukraine's gas transit monopoly Ukrtransgas said on Monday, after Moscow said it may end lower prices to its neighbour.

  • *California T model to debut at Geneva auto show. GENEVA, March 3- Italy's Ferrari has mounted a turbocharged engine on its latest supercar for the first time in more than two decades, as even luxury automakers are forced to seek ways to cut emissions without sacrificing performance.

  • MOSCOW, March 3- "Hysteria" on Russian markets will subside because of Central Bank interventions to support the rouble, but Russia faces a period of strained ties with the European Union and the United States which will weigh on the economy, a senior official said.

  • *Ukraine border guards say build-up of Russian armoured vehicles near Crimea. KIEV/ BALACLAVA, Ukraine, March 3- Ukraine said Russia was building up armoured vehicles on its side of a narrow stretch of water near the Ukrainian region of Crimea after President Vladimir Putin said he had the right to invade his neighbour, prompting a sell-off in Russian assets.

  • IMF mission to start work in Ukraine on Tuesday Monday, 3 Mar 2014 | 3:49 AM ET

    KIEV, March 3- An international Monetary Fund mission will arrive in Kiev on Monday and start consultations on Tuesday, an official at the Ukrainian central bank said. The official, who declined to be named, gave no further details. Ukraine's new leaders say the country needs about $35 billion in financial assistance over the next two years to avoid bankruptcy.

  • LONDON, March 3- The Japanese yen was at its strongest in a month against the dollar on Monday and looked set for more gains as investors sought safe havens from the risk of conflict in Ukraine and an economic slowdown in China.