Latest Business News Wires - Business Headlines


  • WASHINGTON, May 27- U.S. regulators should challenge the proposed $45 billion merger of the two largest American cable providers, Comcast Corp and Time Warner Cable Inc, the New York Times said in an editorial in Tuesday's newspaper.

  • *Ghana previously put off planned $1 bln Eurobond. ACCRA, May 27- Ghana has cancelled plans to issue a seven-year domestic bond worth 100 million cedis this month to avoid having to pay a high yield, government officials and analysts said on Tuesday.

  • *Prosecutor says the 3 conspired with colleagues in London. LONDON, May 27- Three ex-traders from banking group Barclays appeared in a London court on Tuesday as Britain began criminal proceedings against U.S.-based Libor traders, part of a global investigation into alleged rigging of benchmark interest rates.

  • FRANKFURT, May 27- The European Central Bank will spend 300 million euros this year and next in building an elite group to monitor top banks, with the lion's share spent on generous pay for many of its staff.

  • May 27- Focus Financial Partners LLC said its Rochester, New York- based partner firm, LVW Advisors, hired two veteran advisers from Wells Fargo Advisors to launch a wealth management service for affluent families.

  • *First quarterly GDP contraction since Q2 2009. PRETORIA, May 27- South Africa's economy shrank in the first quarter of this year, the first quarterly contraction since a recession five years ago, as mining output plummeted due to a protracted strike in the platinum sector.

  • *Hillshire Brands shares jump after Pilgrim's Pride bid. *Cisco shares up on Deutsche Bank upgrade, price target hike. NEW YORK, May 27- U.S. stocks rose on Tuesday with the S&P 500 hitting a fresh record high supported by merger activity and as expectations for rate cuts at the European Central Bank stoked bids for equities.

  • *Ukraine tensions could boost bonds again. NEW YORK, May 27- U.S. Treasury prices inched lower on Tuesday in choppy trading on the back of generally upbeat U.S. economic data, but losses could be limited by the worsening situation in Ukraine.

  • Gabon Oil Company to boost oil sales, eyes acquisitions Tuesday, 27 May 2014 | 10:21 AM ET

    LIBREVILLE, May 27- State-owned Gabon Oil Company plans to purchase new oil assets and market a bigger portion of Gabon's crude oil, its chief executive told Reuters, aiming to grow to compete alongside international oil firms.

  • JOHANNESBURG, May 27- The new boss of South Africa's Adcock Ingram announced an overhaul of the struggling drugmaker to allow its different businesses to operate more independently in a bid to make them more nimble and increase accountability.

  • U.S. consumer confidence rises in May Tuesday, 27 May 2014 | 10:11 AM ET

    NEW YORK, May 27- U.S. consumer confidence rose in May as consumers saw the economy, including the labor market, in a better light, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes rose to 83 in May from a downwardly revised 81.7 in April.

  • NEW DELHI, May 27- Indian Prime Minister Narendra Modi delivered a blunt warning to traditional neighboring foe Pakistan on his first day in the job on Tuesday that it must prevent militants on its territory from attacking India.

  • NEW YORK, May 27- The U.S. services sector expanded in May at its fastest rate since March 2012 as employment creation accelerated, an industry report showed on Tuesday. New business growth for the services sector was at its fastest since February 2011.

  • TOKYO, May 27- Renesas Electronics Corp plans to sell its majority stake in a maker of iPhone display chips to Synaptics Inc, another smartphone chip supplier, according to sources familiar with the matter.

  • NEW YORK, May 27- U.S. stocks edged higher on Tuesday as merger activity and expectations for rates cuts by the European Central Bank stoked bids for equities even after the benchmark S&P 500 index closed at a record on Friday.

  • WASHINGTON, May 27- Orders for long-lasting U.S. manufactured goods unexpectedly rose in April, but a drop in a measure of business capital spending plans could temper expectations for a sharp rebound in economic growth this quarter.

  • GE boss faces public Alstom grilling in Paris Tuesday, 27 May 2014 | 9:16 AM ET

    *GE has extended its bid, Siemens seen readying rival offer. PARIS, May 27- General Electric boss Jeff Immelt faces a public French parliamentary grilling in person on Tuesday over his high-stakes plan to buy the power arm of engineering group Alstom, replacing a subordinate at the last minute.

  • *Ukraine puts moratorium on arms export to Russia. KRAMATORSK, Ukraine, May 27- In quiet defiance of a promise by Kiev's pro-European government to cut arms ties with Moscow, a state-owned defence firm in eastern Ukraine has vowed to work around the clock to fill every Russian order it gets.

  • *Hillshire Brands shares jump after Pilgrim's Pride bid. *Cisco shares up on Deutsche Bank upgrade, price target hike. *Aeropostale jumps after it secures $150 mln credit facility.

  • Chinese city targets pharma firms in graft crackdown Tuesday, 27 May 2014 | 9:08 AM ET

    SHANGHAI, May 27- China's eastern city of Hangzhou is cracking down on graft in the healthcare sector, according to an internal memo from the local government, putting more pressure on global drugmakers operating in the country.