Latest Business News Wires - Business Headlines


  • WASHINGTON, June 27- Steven A. Cohen's hedge fund SAC Capital and several affiliates reached a deal with U.S. securities regulators on Friday to wind down their operations and transition into a smaller, family-based business, according to a regulatory filing.

  • June 27- Dollar General Corp said CEO Rick Dreiling will retire next year, throwing into doubt a proposal by Carl Icahn to merge the discount retailer with Family Dollar Stores Inc.. Dollar General's shares fell as much as 8 percent and Family Dollar's as much as 4 percent in morning trading on Friday.

  • June 27- Hewlett-Packard Co and attorneys representing shareholders have agreed to settle litigation over its troubled $11.1 billion acquisition of British software company Autonomy Corp, according to a source familiar with the negotiations.

  • *Nike rallies after results; DuPont drops as outlook cut. Nike Inc rose 1.6 percent to $78.15 a day after its fourth-quarter earnings beat expectations. However, those gains were offset on the Dow index as DuPont, a fellow component, cut its full-year operating profit outlook, sending shares down 4.3 percent to $64.81.

  • Tencent to buy 20 pct in 58.com for $736 mln Friday, 27 Jun 2014 | 12:00 PM ET

    June 27- Tencent Holdings Ltd, China's biggest listed tech firm, will buy a 20 percent stake in online classifieds company 58. com Inc for $736 million as the company looks to boost its presence in the e-commerce business.

  • Tech threat a warning for fund managers to step up Friday, 27 Jun 2014 | 11:53 AM ET

    *Google, Apple, Amazon among those well positioned- KPMG. MONACO, June 27- Tech companies pose a growing threat to traditional asset managers and the financial services industry needs to up its game to meet the challenge, even though the hurdle of regulation is holding back rapid change, industry executives said.

  • FRANKFURT, June 27- Daimler AG and Nissan Motor Co are jointly investing $1.36 billion to develop premium small cars and build a factory in Mexico, the companies said on Friday, in a step that deepens cooperation between the Mercedes-Benz and Infiniti brands.

  • *Worries over risks to Iraq supply ease, traders say. *Libya loads 600,000- bbl tanker for Italy. NEW YORK, June 27- Brent crude oil was little changed in choppy trading on Friday as investors moved to square positions after Brent posted one of its biggest weekly falls this year due to reduced concerns over exports from strife-torn Iraq.

  • MILAN, June 27- Sergio Marchionne needs a New York stock market listing to bring in the investors required to fund future growth at Fiat Chrysler, but a lukewarm response to the chief executive's most recent Wall Street launch suggests he has a bumpy journey ahead.

  • Moldova celebrates David-and-Goliath triumph Friday, 27 Jun 2014 | 11:22 AM ET

    *Ukraine, Georgia, Moldova sign pacts with EU. MOSCOW/ CHISINAU, Moldova, June 27- Moldova hailed political and trade pacts signed with the European Union on Friday as a David-and-Goliath triumph after decades of domination by its former Soviet masters in Moscow.

  • *Switzerland has big but opaque influence on Africa. JOHANNESBURG, June 27- Are mispricing and the opacity of commodities trading in Switzerland contributing to Africa's underdevelopment? Switzerland is a global hub for trade in commodities, and so exerts a significant influence on Africa's development.

  • The holdouts want full repayment on bonds that Argentina defaulted on in 2002 and they have won a string of victories in U.S. courts that put the country on the brink of a new default.

  • EU throws down gauntlet to U.S. over derivatives Friday, 27 Jun 2014 | 11:13 AM ET

    *Transatlantic tug-of-war over derivatives continues. LONDON, June 27- The European Union said it will help build a seamless global market in financial derivatives by accepting rules used in five countries, adding the United States would get the green light too if it showed flexibility.

  • June 27- Shares of Michaels Cos Inc fell as much as 2.1 percent in their return to the market, valuing the biggest U.S. arts and crafts retailer at about $3.4 billion.

  • *Sanofi hit may be limited as EU market smaller than U.S. LONDON, June 27- European regulators have for the first time recommended approval of a copycat insulin for diabetics, posing a threat to French drugmaker Sanofi whose top-selling Lantus is now set to face a cheaper rival in 2015..

  • *Project to overhaul Belgrade waterfront to cost 3 bln euros. *Dubai- based construction firm Eagle Hills to provide financing. BELGRADE, June 27- Serbia unveiled plans on Friday to redevelop the Belgrade waterfront, aiming to make the capital a tourism and business hub, in a controversial 3 billion euro scheme that will be funded by Gulf Arab cash.

  • LONDON, June 27- Shareholders at Tesco's annual meeting berated the British retailer's board on Friday for the low share price, poor results and questioned whether the management knew what they were doing. "You just have not got a clue," one private investor told the heated meeting in central London.

  • OTTAWA, June 27- Wal-Mart Stores Inc violated Quebec's labor code by closing a store in the largely French-speaking province after an attempt by workers to unionize it, the Supreme Court of Canada ruled on Friday.

  • NEW YORK, June 27- The U.S. dollar edged lower on Friday against a basket of major currencies and looked set for a second week of losses after positive data on consumer sentiment failed to boost expectations for a rise in interest rates any time soon.

  • Europe shares set to post 1st weekly loss since April Friday, 27 Jun 2014 | 10:44 AM ET

    *FTSEurofirst 300 flat, Euro STOXX 50 down 0.2 pct. PARIS, June 27- European stocks were steady on Friday, halting a week-long sell-off, with Airbus rising after sources said the European plane maker is set to clinch a deal with Rolls-Royce for A330 engines.