Latest Business News Wires - Business Headlines


  • NEW YORK, Nov 7- The euro fell to a more than seven-week low against the dollar on Thursday after the European Central Bank shocked investors by cutting interest rates and said that policy will remain accommodative for as long as necessary.

  • MADRID, Nov 7- Spanish oil major Repsol cut its 2013 production growth target on Thursday to reflect outages in conflict-hit Libya, which it also blamed for a decline in third-quarter profit.

  • Wells Fargo targets big spenders in credit card push Thursday, 7 Nov 2013 | 9:38 AM ET

    Nov 7- Wells Fargo& Co, is looking to entice more wealthy customers to use its credit cards as part of a strategy to become a more dominant player in that business, a top executive said on Thursday. Wells Fargo aims to grow market share over the next 18 months through a recently announced partnership with American Express Co, he added.

  • NYPD shoots down talk of top cop jumping ship Thursday, 7 Nov 2013 | 9:37 AM ET

    NYPD has denied that its commissioner, Ray Kelly, was in talks with JPMorgan Chase about a senior role in security at the bank.

  • FRANKFURT, Nov 7- The European Central Bank cut interest rates to a new record low on Thursday and said it would prime banks with liquidity into 2015 to prevent the euro zone's recovery from stalling as inflation tumbles.

  • NEW YORK, Nov 7- The U.S. National Oceanic and Atmospheric Administration said on Thursday it expected neutral El Niño weather conditions to persist in the Northern Hemisphere through spring.

  • NEW YORK, Nov 7- U.S. stocks opened slightly higher on Thursday after an interest rate cut by the European Central Bank, though gains were limited after data showed the U.S. economy grew faster than expected in the third quarter, raising concerns about when the Federal Reserve might cut back on its stimulus.

  • WASHINGTON, Nov 7- Government-controlled mortgage firm Freddie Mac said on Thursday it will pay $30.4 billion in dividends to the U.S. The report from Freddie Mac, which recorded pre-tax income of $6.5 billion, came on the same day its larger sibling and fellow state ward Fannie Mae said it would be making an $8.6 billion dividend payment to the government.

  • DUBLIN, Nov 7- Three years after going cap in hand to international lenders, Ireland got the green light on Thursday to step out on its own as the first euro zone country to exit its bailout programme.

  • LONDON, Nov 7- An unexpected cut in rates by the European Central Bank sent the euro sharply lower on Thursday and gave an instant boost to stocks and major government bond prices in Europe. "We wanted a stronger response to the stronger euro/dollar and we've got it," said David Bloom, global head of FX strategy at HSBC.

  • CIA paying AT&T to provide call records - NY Times Thursday, 7 Nov 2013 | 9:27 AM ET

    Nov 7- The CIA is paying AT&T more than $10 million a year to provide phone records for overseas counter-terrorism investigations, the New York Times reported, quoting government officials.

  • *Twitter shares to debut on NYSE. NEW YORK, Nov 7- U.S. stocks were poised for a higher open on Thursday, after an interest rate cut by the European Central Bank reinforced expectations global central banks will continue to take actions to buoy struggling economies worldwide.

  • NEW YORK, Nov 7- Prices for U.S. GDP data against a surprise rate cut from the European Central Bank. A stronger U.S. economy could persuade the Federal Reserve to slow its $85 billion per month bond buying in coming months.

  • FRANKFURT, Nov 7- The European Central Bank cut interest rates to a new record low on Thursday, responding to a slump in inflation, and said it would prime banks with liquidity for longer to prevent the euro zone's recovery from stalling.

  • *Posts loss of $7.1 million on investments. Nov 7- Radian Group Inc, the biggest private U.S. mortgage insurer, wrote the second-highest quarterly volume of new insurance in its history, helped by a recovering housing market and fewer loan defaults.

  • NEW YORK, Nov 7- The U.S. National Oceanic and Atmospheric Administration said on Thursday that it expected neutral El Nino weather conditions in the Northern Hemisphere through spring.

  • LONDON, Nov 7- Copper rose on Thursday following better-than-expected U.S. data and a surprise European Central Bank rate cut, while traders awaited a U.S. jobs report and a leadership meeting in China for more clues on the demand outlook.

  • Nov 7- Twitter Inc's initial public offering, which will start to trade on the New York Stock Exchange on Thursday, drew strong demand with investors asking for 30 times the number of shares that were on offer, according to two sources familiar with the deal.

  • LONDON, Nov 7- Formula One Chief Executive Bernie Ecclestone said much of the motor sport's value before the sale of a major stake to private equity group CVC was down to his running of the business.

  • *Third-quarter GDP growth at 2.8 percent, fastest in a year. WASHINGTON, Nov 7- U.S. economic growth accelerated in the third quarter as businesses restocked shelves but the slowest expansion in consumer spending in two years pointed to an underlying weakness.

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