Latest Business News Wires - Business Headlines


  • LAUNCESTON, Australia, April 30- First it was oil refining and now it's petrochemicals getting a reality check in China. In recent months China has seen a slew of delays and cancellations to oil refinery and petrochemical projects, as the full impact of slower economic growth, pollution concerns and foreign competition hits home.

  • UPDATE 1-Spain's economy grows at fastest pace in 6 years Wednesday, 30 Apr 2014 | 4:13 AM ET

    MADRID, April 30- Spain's gross domestic product rose at its fastest quarterly pace in six years in the first quarter while inflation accelerated, in the latest sign the country's economy is picking up steam after years of recession.

  • Hong Kong shares close lower, Tencent falls 5.2 percent Wednesday, 30 Apr 2014 | 4:10 AM ET

    BEIJING, April 30- Hong Kong shares finished down on Wednesday, as index heavyweight Tencent slipped, and profit-taking by investors across the board erased the gains many stocks made during a surge late on Tuesday. The Hang Seng Index closed down 1.4 percent to 22,133.97.

  • FOREX-Euro threatened by inflation, yuan dips again Wednesday, 30 Apr 2014 | 4:06 AM ET

    LONDON, April 30- The euro trod water in early European trade on Wednesday with all eyes on euro zone inflation numbers due later, while offshore rates for China's yuan fell again, taking it to an 18- month low against the dollar.

  • Turmoil at Tel Aviv Stock Exchange is over, says CEO Wednesday, 30 Apr 2014 | 4:00 AM ET

    LONDON, April 30- The upheaval caused by the departures of the Tel Aviv Stock Exchange's former chief executive and chairman has ended, allowing the new management to focus on improving performance, its CEO said on Wednesday.

  • April 30- Johnson& Johnson suspended worldwide sale of its device used in fibroid surgery amid concerns over its potential to spread undetected cancer beyond the uterus. J&J said the step was not a product removal as the FDA maintained that power morcellation may still be the best option for some patients after risk evaluation and informed consent.

  • *Sanofi looking to sell mature products with $3.7 bln sales. *Sanofi shares gain 1.5 percent. Shares in Sanofi rose 1.5 percent in early trade on Wednesday following the news.

  • LONDON, April 30- Demand response programmes, where customers are given a financial incentive to reduce power consumption at times of peak demand, are playing an increasingly important role in the U.S. power market.

  • SYDNEY, April 30- Australian mining firm Padbury Mining's $6.5 billion deal to fund a new iron ore port and rail development on the resource-rich western coast has fallen through, the company said on Wednesday.

  • KUALA LUMPUR/ VANCOUVER, April 30- A plan by Malaysian state-owned oil firm Petronas to build an $11 billion liquefied natural gas export terminal on Canada's Pacific Coast gained momentum on Tuesday with China's Sinopec Group and a Chinese state utility joining the project.

  • OSLO, April 30- Fertiliser maker Yara reported better-than-expected first-quarter earnings on Wednesday and said its outlook had improved on better profit margins for the global farming sector, sending its shares more than 6 percent higher.

  • *Gold jewellery shipments rise for second month. MUMBAI, April 30- Gold jewellery exports from India rose for a second straight month in March as raw material supply improved after the central bank allowed more banks to import bullion, with industry officials saying the upward trend looks set to continue.

  • Rosneft is trying to complete a $1.5- 2 billion prepayment loan to finance BP's purchase of crude oil from Rosneft and a similar $1.5- 2 billion deal with Swiss energy trader Vitol. After months of delay, BP and Rosneft are close to finalising the $1.5- 2 billion, five-year prepayment loan, a second banker said.

  • European shares drift lower, Alstom outperforms Wednesday, 30 Apr 2014 | 3:19 AM ET

    LONDON, April 30- European shares lost ground on Wednesday after sharp gains in the previous session as tensions in Ukraine continued to dog sentiment, though French conglomerate Alstom bucked the weak market trend.

  • NEW YORK, April 30- The head of General Electric said on Wednesday talks with the French government on its offer for Alstom's energy assets had been "productive" and expressed confidence that the deal would go through despite a potential rival offer from Germany's Siemens.

  • Shanghai shares edge up on pre-holiday earnings reports Wednesday, 30 Apr 2014 | 3:08 AM ET

    BEIJING, April 30- Shanghai shares inched up on Wednesday after winners slightly outnumbered losers in a flood of first-quarter results released before the market closes for a two-day holiday. The CSI300 of the leading Shanghai and Shenzhen A-share listings ended flat. The Shanghai and Shenzhen stock exchanges will be closed on Thursday and Friday.

  • SHANGHAI, April 30- A stress test by China's central bank showed the banking system can weather big increases in bad debts or a sharp economic slowdown, but some analysts were sceptical about the findings aimed at shoring up investor confidence.

  • LONDON, April 30- An independent review of the problems which led to a 1.5 billion pound funding gap at Britain's Co-operative Bank has concluded the roots of its problems lay in its 2009 takeover of the Britannia Building Society.

  • UPDATE 1-Nomura profit falls as Abenomics euphoria fades Wednesday, 30 Apr 2014 | 3:05 AM ET

    *Q4 net profit 61.3 bln yen vs 41 bln yen analyst view. TOKYO, April 30- Nomura Holdings, Japan's biggest investment banking and brokerage group, reported its first profit decline in seven quarters as waning enthusiasm over Prime Minister Shinzo Abe's economic stimulus policies brought down stock trading volumes.

  • LONDON, April 30- British American Tobacco, the world's No. 2 cigarette maker, posted improved sales volume for the first quarter, though foreign exchange rates were a big drag on revenue. Gains in Asian countries such as Pakistan and Indonesia were more than offset by declines in European markets such as Russia and Poland.