Latest Business News Wires - Business Headlines


  • NEW YORK, April 29- Former AIG chief Maurice "Hank" Greenberg will have to defend himself against claims of accounting fraud in a non-jury trial conducted by a judge he tried to remove for alleged bias. Justice Charles Ramos of New York state court on Tuesday ruled against Greenberg's demand for a jury to hear the civil case brought by the New York attorney general.

  • SAN FRANCISCO, April 29- EBay Inc is preparing to bring a major portion of its foreign earnings back into the United States, hoping to bankroll acquisitions and drive an expansion into mobile payments and other high-growth areas as its core business matures.

  • April 29- Mortgage and life insurer Genworth Financial Inc reported a better-than-expected rise in quarterly profit, helped by a near-doubling in income from its long-term care insurance business. Genworth, spun off from General Electric Co a decade ago, had years ago written generous long-term care policies offering long periods of coverage.

  • WASHINGTON, April 29- U.S. Securities and Exchange Commission will implement large portions of a rule requiring companies to determine if their products contain "conflict minerals" from a war-torn part of Africa, SEC Chair Mary Jo White said Tuesday.

  • *Talks not exclusive, Alstom can hold talks with Siemens. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG, which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer.

  • Lawyers said the 6-2 Supreme Court decision to side with the EPA was a timely boost for the agency as it moves to regulate carbon dioxide emissions from the country's power plants using a different section of the Clean Air Act.

  • Delphi Automotive reviewing possible violations Tuesday, 29 Apr 2014 | 7:29 PM ET

    April 29- Auto parts maker Delphi Automotive Plc is reviewing potential violations of the U.S. Foreign Corrupt Practices Act linked to payments made by employees in China, the company disclosed in a regulatory filing. Delphi said it has disclosed these matters to the U.S. Department of Justice and the SEC and is cooperating fully with the agencies.

  • April 29- Online designing and printing services company Vistaprint NV reported a much lower-than-expected quarterly revenue, hurt by fewer customer additions as it shifts from offering deep discounts. Vistaprint's shares fell as much as 21 percent in extended trading.

  • CARACAS, April 29- President Nicolas Maduro announced on Monday a 30 percent increase in the minimum wage and pensions to protect Venezuelans from inflation nearing a 60 percent annual rate.

  • SYDNEY, April 30- The euro nursed broad losses early on Wednesday, having been put under pressure by soft German inflation numbers while the yen stayed on the defensive ahead of a policy decision by the Bank of Japan. "A low April print would increase the likelihood of policy action next week," analysts at BNP Paribas wrote in a note to clients.

  • TOKYO, April 30- Japan's manufacturing activity contracted in April for the first time in more than a year, a survey showed on Wednesday, as companies cut production immediately following an increase in the national sales tax. Prime Minister Shinzo Abe's government raised the national sales tax to 8 percent from 5 percent on April 1 to meet rising welfare costs.

  • MEXICO CITY, April 29- America Movil, Latin America's biggest phone company, said on Tuesday that higher debt costs had pushed its first-quarter profit down by almost half as its service revenue and subscriber base showed sluggish growth.

  • LONDON/ NEW YORK, April 29- Sanofi SA is looking to sell a portfolio of mature drugs that could fetch between $7 billion and $8 billion, according to people familiar with the matter, yet another example of drugmakers trying to shed non-core assets and focus on high-growth areas.

  • SAN JUAN, April 29- Puerto Rico's governor announced a $1.4 billion cut in public spending on Tuesday as the commonwealth government agencies braced for measures that will be taken to produce the first balanced budget in years.

  • Shares of RF Micro, whose customers include Apple Inc and Samsung Electronics Co, rose about 7.5 percent in extended trading after the chipmaker also posted a better-than-expected profit for the fourth quarter.

  • SAN FRANCISCO, April 29- EBay Inc said on Tuesday that access to foreign earnings will allow the e-commerce giant to take advantage of growing opportunities in the U.S. market while also completing $5 billion in share buybacks. The company, which also reported better-than-expected earnings, will take a $3 billion non-tax charge to repatriate foreign earnings.

  • Benjamin Lawsky, superintendent of the New York state's Department of Financial Services, said, "I think... you will see results this summer" from a continuing investigation of consultants hired at the behest of regulators.

  • Consumer advocates are worried the rules would ultimately allow Internet companies like Comcast Corp or Verizon Communications Inc to create "fast lanes" on the web for traffic of content companies that pay up, potentially shutting out poorer newcomers.

  • April 29- Marriott International posted a better-than-expected quarterly profit as increased business travel boosted occupancy and allowed the company to raise room rates in North America.

  • WASHINGTON, April 29- The U.S. House of Representatives approved a bill on Tuesday that would scale back the Volcker rule to exempt a type of securities that banks want to keep on their books. Representative Andy Barr, a Kentucky Republican who introduced the bill, called it a "a bipartisan clarification that fixes a regulatory problem" in a statement after the vote.