Latest Business News Wires - Business Headlines


  • 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.

  • *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.

  • 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.

  • *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.

  • LONDON, April 7- World stocks slipped from last week's six-year high on Monday on concerns about technology shares, while speculation the European Central Bank will ease policy further pushed down European bond yields.

  • The SEC regularly examines a wide range of financial institutions including brokerages and clearing houses to ensure compliance with federal securities laws. The SEC already has examiners who specialize in funds, but historically the agency has focused on public asset managers such as mutual funds that have been highly regulated since 1940..

  • FOREX-Dollar dips, eyes on central banks Monday, 7 Apr 2014 | 3:58 AM ET

    LONDON, April 7- The dollar lost more ground against the yen and dipped against the euro on Monday, jobs data on Friday disappointing those who had bet on a number strong enough to break this year's tight trading ranges.

  • MOSCOW, April 7- Russia's consumer protection agency said on Monday it had suspended imports from six Ukrainian dairy producers, the latest sign of worsening trade relations between the two countries since Russia annexed Crimea.

  • 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. Holcim shares were up 5.6 percent while Lafarge gained 3.8 percent.

  • TOKYO, April 7- Japanese government bond prices gained on Monday, with the market taking positive cues from higher U.S. Treasuries and falling Tokyo stocks. The market saw wider price swings compared to the last few sessions but a wait-and-see mood before the Bank of Japan's monetary policy decision on Tuesday limited trade volume.