Latest Business News Wires - Business Headlines


  • TEXT-ECB statement after June policy meeting Thursday, 5 Jun 2014 | 8:51 AM ET

    FRANKFURT, June 5- Following is the text of the ECB's statement issued after its policy meeting on Thursday, when it imposed negative interest rates on its overnight depositors to cajole banks into lending more and to fight off the risk of Japan- like deflation.

  • LONDON, June 5- Johnson Matthey, the world's biggest maker of catalytic converters used to control car engine emissions, said it expected no annual profit growth this year due to the loss of a supply contract and adverse foreign exchange rates.

  • ECB throws cash at the sluggish euro zone economy Thursday, 5 Jun 2014 | 8:43 AM ET

    FRANKFURT, June 5- The European Central Bank said on Thursday it will offer banks a targeted long-term refinancing operation to persuade them to lend, was preparing to purchase asset-backed securities in future and will discontinue sterilizing previous bond purchases.


  • June 5- Dutch bank ING aims to list its insurance arm within two months, it said on Thursday, in one of the biggest European public share offers of the year which will complete the bank's enforced reformation since its state bail-out five years ago.

  • *Google received 12,000 information removal requests in one day. The ruling, which compelled Google to remove links to a 16- year-old newspaper article about a Spanish man's bankruptcy, has demonstrated once again the difficulty of striking a balance between freedom of information and the right to privacy.


  • *Ukraine president-elect works on peace plan with Western leaders. LONDON, June 5- Oil fell to a three-week low below $108 a barrel on Thursday as worries about risks to supply caused by violence in Ukraine eased on hopes that talks could resolve the situation.

  • WARREN, Mich., June 5- General Motors Co's internal probe of its delay in recalling vehicles with defective ignition switches linked to at least 13 deaths said senior managers were not to blame, a person familiar with the matter told Reuters on Thursday. The findings, first reported by the Wall Street Journal, are expected to be made public later on Thursday.

  • WASHINGTON, June 5- The number of Americans filing new claims for unemployment benefits rose last week, but the underlying trend continued to point to a firming labor market. Initial claims for state unemployment benefits increased 8,000 to a seasonally adjusted 312,000 for the week ended May 31, the Labor Department said on Thursday.

  • PARIS/ BRUSSELS, June 5- France stepped up its defense of BNP Paribas bank against a possible huge fine for U.S. sanctions busting before the two countries' leaders meet on Thursday, invoking wider economic concerns and linking the row to trade talks.

  • *ECB expected to announce more easing measures at 1230 GMT. LONDON, June 5- The euro fell to a four-month low against the dollar after the European Central Bank cut interest rates, as expected, and said it would announce further policy easing measures to tackle the threat of disinflation.

  • LONDON, June 5- The euro fell to a four-month low and German Bund futures rallied on Thursday after the European Central Bank cut interest rates and said further policy measures would be announced later in the day. ECB President Mario Draghi is due to hold a news conference at 1230 GMT.

  • US STOCKS-Futures slightly higher after ECB cuts rates Thursday, 5 Jun 2014 | 8:17 AM ET

    *Sprint agrees to buy T-Mobile US- source. NEW YORK, June 5- U.S. stock index futures were slightly higher on Thursday after the European Central Bank cut interest rates to record lows while indicating further monetary policy actions will follow. Dow Jones industrial average e-mini futures rose 26 points and Nasdaq 100 e-mini futures added 3 points.


  • Logistics company UTi reports bigger quarterly loss Thursday, 5 Jun 2014 | 8:15 AM ET

    June 5- Logistics company UTi Worldwide Inc reported a bigger quarterly loss as revenue fell in its air and ocean freight businesses. The net loss attributable to UTi increased to $43.2 million, or 43 cents per share, in the first quarter ended April 30, from $12.4 million, or 12 cents per share, a year earlier. Excluding items, UTi posted a loss of 9 cents per share.

  • June 5- Truck and engine maker Navistar International Corp reported a smaller quarterly loss as warranty expenses fell and truck sales improved. Net loss attributable to Navistar narrowed to $297 million, or $3.65 per share, from $374 million, or $4.65 per share, a year earlier. Navistar's shares closed at $35.45 on the New York Stock Exchange on Wednesday.

  • HONG KONG/ SYDNEY, June 5- Standard Chartered has suspended new metal financing to some customers in China, three sources familiar with the matter said, as banks and trading houses review their exposure after a probe into trade financing at the port of Qingdao. A Standard Chartered spokeswoman said the bank was reviewing financing to a small number of its clients.

  • JM Smucker sales fall 8 pct as it cuts coffee prices Thursday, 5 Jun 2014 | 8:13 AM ET

    June 5- Folgers Coffee maker J.M. Smucker Co reported a 9 percent drop in quarterly profit, as lower coffee prices hurt sales. Net income fell 9 percent to $118.5 million, or $1.16 per share, in the fourth quarter ended April 30 from $130.3 million, or $1.22 per share, a year earlier.

  • LONDON, June 5- The Bank of England stuck to its plan to nurse the economy back to full health with record low interest rates on Thursday, despite a strong recovery and fast-rising house prices which could lead to a split among its policymakers soon.