Latest Business News Wires - Business Headlines


  • DETROIT, April 24- General Motors Co said on Thursday that first-quarter profit tumbled 88 percent after a massive recall due to defective ignition switches, but results still topped expectations on strong pricing for its redesigned pickup trucks in North America and improvement overseas.

  • NEW YORK, April 24- U.S. stocks rose at the open on Thursday, led by gains in Apple after its earnings as well as buyback and stock split announcements, while other sector bellwethers including General Motors and Aetna also rose after results.

  • *Obama says more sanctions "teed up" against Russia. LONDON, April 24- Oil rose towards $110 a barrel on Thursday as the dispute between Russia and the West over Ukraine added to supply concerns, although record U.S. crude inventories kept gains in check.

  • Germany's DAX falls on new Ukraine worries Thursday, 24 Apr 2014 | 9:28 AM ET

    LONDON, April 24- Germany's benchmark DAX equity index turned negative on Thursday, underperforming other major European markets due to new worries about an escalation in tensions between Russia and Western powers over Ukraine. German and Austrian are companies among the most exposed in Europe to Russia and Ukraine.

  • *Sees full-year adj shr $3.60- $3.90 vs. est $3.67. *Adj Q1 EPS 88 cents vs. est 79 cents. Timken also forecast adjusted earnings of $3.60- $3.90 per share for the whole of 2014. The company expects sales to rise about 7 percent, implying full-year sales of about $4.64 billion.

  • LONDON, April 24- Aluminium has staged an impressive price rally since the start of the month. On the London Metal Exchange three-month metal has powered up to $1,900 per tonne, a level last seen in October 2013.

  • BOSTON, April 24- A prominent investor shareholder advisory firm recommended that Sotheby's investors should vote for two of the three board candidates suggested by activist investor Daniel Loeb. Loeb's $14.5 billion hedge fund, Third Point, is the biggest investor in Sotheby's, with a 9.6 percent stake.

  • April 24- JetBlue Airways Corp on Thursday reported lower quarterly profit that fell short of estimates as higher salaries boosted operating expenses. JetBlue said it canceled 4,100 flights because of severe winter weather, which reduced revenue by about $50 million and profit by about $35 million.

  • *Durable goods orders rise 2.6 percent in March. WASHINGTON, April 24- Orders for long-lasting U.S. manufactured goods rose more than expected in March and a measure of business capital spending plans surged, bolstering views of an acceleration in growth in the second quarter.

  • April 24- U.S. weapons maker Raytheon Co reported higher first-quarter profit on Thursday after a tax credit and favorable pension adjustments and forecast strong bookings and a slight gain in margins for the rest of the year.

  • April 24- Freeport McMoRan Copper& Gold Inc reported a decline in first quarter profit on Thursday, hurt by lower copper prices and a conflict with the government of Indonesia that has halted its copper concentrate exports from the country. The company said it is working to resolve the dispute in Indonesia over a new export tax announced in January.

  • April 24- Strong sales of iPhones in China and emerging markets sets the stage for Apple Inc to reap even higher profits after it launches the next iPhone and other new products, analysts said.

  • *First quarter adjusted loss $1.33/ shr vs estimate loss $1.35/ shr. The first-quarter loss came to $609 million, or $1.66 a share, compared with $417 million, or $1.26 a share, a year earlier.

  • April 24- Banco Bradesco SA beat first-quarter profit and return on equity estimates on Thursday, even as Brazil's second-largest private-sector bank failed to stem a decline in interest income and jumpstart loan disbursements.

  • *Syria due to hand over all chemicals by Sunday. Syria became a member of the Organisation for the Prohibition of Chemical Weapons last year as part of a deal with Russia and the United States to destroy its chemical weapons programme.

  • April 24- Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected adjusted profit as the company cut costs and secured higher rates for its upgraded fleet.

  • UPDATE 1-Severe winter dampens UPS's 1st-qtr profit Thursday, 24 Apr 2014 | 8:49 AM ET

    April 24- United Parcel Service Inc, the world's biggest courier company, reported a 12 percent fall in quarterly profit due to higher costs related to a colder-than-usual winter the United States. Rival FedEx Corp also blamed the harsh weather for weak third-quarter results in March and cut its fiscal-year profit forecast.

  • LONDON, April 24- Gold fell to a 2-1/ 2 low on Thursday, as a rally in equities and the dollar after broadly positive U.S. economic data dimmed its appeal as an alternative asset, while a weaker technical picture suggested possible further losses.

  • BRUSSELS, April 24- The European Union may ban transactions with financial institutions in Crimea as part of its response to the annexation of the peninsula by Russia last month, an EU document obtained by Reuters showed.

  • US STOCKS-Futures point to higher open on tech results Thursday, 24 Apr 2014 | 8:47 AM ET

    *Tech results lift Nasdaq futures, Apple and Facebook rally. NEW YORK, April 24- U.S. stock index futures were higher on Thursday, with Nasdaq futures jumping more than 1 percent following a pair of blowout results from technology stalwarts Apple and Facebook.