Latest Business News Wires - Business Headlines


  • BOSTON, April 24- Two prominent proxy advisory firms on Thursday split their recommendations on how investors should vote in a battle between auction house Sotheby's and activist investor Daniel Loeb.

  • BOSTON, April 24- Activist investor William Ackman, who is betting more than $1 billion that Herbalife is a pyramid scheme, will cover legal fees and damages for whistleblowers who have spoken out against the company, but not lost wages if they lose their jobs.

  • *29- year KPMG veteran sentenced in Los Angeles. April 24- Former KPMG LLP senior partner Scott London, who had provided tips to a friend about the accounting firm's clients, was sentenced to 14 months in prison on an insider trading charge by a federal judge in Los Angeles on Thursday.

  • Pandora's rise in ad revenue helps beat expectations Thursday, 24 Apr 2014 | 5:03 PM ET

    April 24- Pandora Media Inc reported a better-than-expected rise in first quarter revenue on Thursday because advertisers picked up spending on the online streaming music service. Total revenue rose almost 70 percent to $194.3 million, beating analysts expectations of $175 million, according to Thomson Reuters I/B/E/S.

  • UPS ratifies new five-year labor agreement Thursday, 24 Apr 2014 | 5:02 PM ET

    April 24- United Parcel Service Inc, the world's biggest courier company, said on Thursday it ratified a five-year contract with higher wages and benefits for 125,000 unionized employees represented by the International Brotherhood of Teamsters.

  • SAN FRANCISCO, April 24- Amazon.com Inc's revenue grew more than expected for the first quarter, offset by a sharp increase in spending on technology, content and new warehouses as the e-commerce giant branches into new businesses. Amazon reported earnings per share of 23 cents, in line with expectations.

  • HONG KONG, April 25- On the face of it, an IPO for WH Group, the world's biggest pork company, should have been an easy sell.

  • April 24- Cirrus Logic Inc, a supplier to Apple Inc, forecast current-quarter revenue well above analysts' estimates, helped by strong demand for its audio chips from the iPhone and iPad maker, sending its shares up 4 percent after the bell.

  • April 24- Cliffs Natural Resources Inc, which is facing off against an activist investor who wants to break up the company, reported a first-quarter loss on Thursday on the back of lower market prices for iron ore and metallurgical coal.

  • April 24- Synaptics Inc reported better-than-expected third-quarter results as demand from mobile phone makers for its touchscreen chips surged, sending its shares up more than 12 percent in after-hours trading.

  • April 24- Property and casualty insurer Chubb Corp reported a weaker-than-expected first-quarter profit, hurt by higher catastrophe losses related to severe winter in the United States. On an operating basis, Chubb earned $1.50 per share, below analysts' average estimate of $1.56 per share, according to Thomson Reuters I/B/E/S.

  • LES CAYES, Haiti, April 24- With the sun barely up, beads of sweat already dot the brow of a barefoot farmer as he hacks at the soil with a pickax, digging up a precious root that has been dubbed Haiti's "super-crop."

  • *Apple rallies a day after announcing 7- for-1 stock split. *Caterpillar gains after results; Verizon, 3 M fall. NEW YORK, April 24- The Nasdaq rose modestly in a choppy session on Thursday, lifted by a rally in Apple shares a day after the iPad maker's strong results, though tensions in Ukraine held the broader market in check.

  • April 24- Starbucks Corp on Thursday reported that quarterly sales at established stores in its U.S.-dominated Americas region slightly accelerated as it attracted more customers, who spent more during each visit. That figure included a 6 percent increase for the Americas region that contributes the majority of Starbucks' revenue.

  • SAN FRANCISCO, April 24- Amazon.com Inc reported higher-than-expected revenue growth in the first quarter and boosted its investments in technology, content and warehouses as the e-commerce giant branches out into new businesses.

  • Visa and rival Mastercard Inc have been helped by increasing consumer spending in the United States and a shift to plastic payments in emerging markets. Net income attributable to the company rose to $1.60 billion, or $2.52 per Class A share, from $1.27 billion, or $1.92 per Class A share, a year earlier.

  • NEW YORK, April 24- Charles Schwab Corp has dropped a fight to require customers to waive their rights to participate in class action lawsuits, the company said on Thursday.

  • WASHINGTON, April 24- While energy reforms have opened the door for Mexico's state-run energy company to expand overseas, its focus for now will be on developing its "low-hanging fruit," the head of Pemex said on Thursday.

  • April 24- Touchscreen chip maker Synaptics Inc's third-quarter revenue rose 25 percent due to a surge in sales to mobile phone makers. Synaptics reported a net loss of $40.1 million, or $1.12 per share for the quarter ended March 31, compared with a net income of $36.4 million, or $1.07 per share, a year earlier.

  • NEW YORK, April 24- Major U.S. companies including Clorox and Kraft are favoring more bonds in the mix for their employees' defined benefit pension plans, even amid signs the three-decade bull run in bonds is on its last legs.