Latest Business News Wires - Business Headlines


  • WASHINGTON, Feb 18- The Federal Reserve Board voted to adopt a tight set of rules that would require foreign banks to hold as much capital in the United States as their local rivals.

  • BOSTON, Feb 18- Hedge fund industry assets are expected to reach a record $3 trillion by year's end as investors plan to add fresh money, saying they were generally happy with last year's returns and don't expect bigger gains this year, a new survey shows.

  • *Underlying profit of $7.76 bln v $6.9 bln consensus. *Shares in Australia hit one-year high, outpace market. MELBOURNE, Feb 18- Global miner BHP Billiton topped market forecasts with a 31 percent rise in first-half profit on Tuesday and hinted it may launch a share buyback in August, despite giving a cautious outlook on Chinese growth.

  • WASHINGTON, Feb 18- The United States will need to improve its offer on cutting tariffs on European manufactured and farm goods as part of negotiations on a U.S.-European Union trade pact, EU Trade Commissioner Karel De Gucht said on Tuesday.

  • NEW YORK, Feb 18- U.S. stocks edged higher on Tuesday, following Wall Street's biggest weekly gain of the year, as merger activity boosted confidence that there is value in the market even as the S&P 500 nears a record high. Based on the latest available data, the Dow Jones industrial average fell 23.99 points or 0.15 percent, to end unofficially at 16,130.40.

  • Feb 19- Asian chat services KakaoTalk, LINE and WeChat threaten to overturn the mobile order of things, usurping the role of Google Inc, Apple Inc, Amazon.com Inc, Facebook Inc and telecoms carriers as gatekeeper to the consumer.

  • Thai rice to pour into global markets as subsidy ends Tuesday, 18 Feb 2014 | 4:00 PM ET

    SINGAPORE/ BANGKOK, Feb 19- Millions of tonnes of Thai rice are set to flood into already oversupplied international markets when the government's controversial subsidy scheme grinds to a halt later this month. That will force farmers to offload the March harvest into a market currently dominated by India and Vietnam.

  • SAN FRANCISCO, Feb 18- Intel Corp unveiled a new high-end processor aimed at boosting lackluster demand from corporate customers like banks and retailers. With Intel's core market of personal computers shrinking, the chipmaker's server business is becoming increasingly important.

  • BOSTON, Feb 18- French aerospace engine maker Snecma, a unit of Safran, was attacked by hackers who exploited a vulnerability in Microsoft Corp's Internet Explorer, according to a computer security researcher.

  • RIO DE JANEIRO/ LONDON, Feb 18- Violence between Ukrainian demonstrators and riot police spooked emerging markets investors on Tuesday, driving the hryvnia back toward five-year lows and weighing on the country's bonds. The bond had risen on Monday after Russia said it would buy a $2 billion bond from Ukraine by the end of the week.

  • *Adverse weather hits Brazil, Argentina soybean output. CHICAGO, Feb 18- U.S. soybean futures surged to a five-month high on Tuesday on robust demand and concerns about smaller crops in key exporters Brazil and Argentina due to adverse weather.

  • CARACAS, Feb 18- Tens of thousands of protesters flooded the streets of Venezuela's capital on Tuesday after troops arrested opposition leader Leopoldo Lopez on charges of fomenting unrest against the government and violence that has killed at least four people.

  • VIENNA, Feb 18- Six world powers and Iran began "substantive" talks on Tuesday in pursuit of a final settlement on Tehran's contested nuclear programme in the coming months despite caveats from both sides that a breakthrough deal may prove impossible.

  • Two Democrats join exodus from U.S. Congress Tuesday, 18 Feb 2014 | 2:55 PM ET

    WASHINGTON, Feb 18- New Jersey Representative Rush Holt, a physicist who has advocated strongly for research funding and environmental conservation, has decided not to seek a further term in the U.S. House of Representatives in elections in November, Democratic Party Leader Nancy Pelosi said on Tuesday.

  • *Fed to buy $1 bln- $1.25 bln bonds due 2036-2044. NEW YORK, Feb 18- U.S. The National Association of Home Builders said on Tuesday its Housing Market Index plunged by 10 points to 46 in February, with a majority of builders seeing market conditions as poor.

  • NEW YORK/ LONDON, Feb 18- Coffee futures on ICE closed up nearly 9 percent in heavy volume at their highest price in a year on Tuesday, as light rains fueled concerns over drought-damaged crops in top grower Brazil and galvanized investors to increase holdings of the commodity.

  • NEW YORK, Feb 18- In an unusual move, Bernard Madoff's former back-office director took the witness stand in his own defense on Tuesday, telling a federal jury that he had no idea his boss was operating a Ponzi scheme until the day Madoff was arrested in December 2008.

  • *Forest Labs shares jump, Actavis to purchase. NEW YORK, Feb 18- U.S. stocks edged up on Tuesday, following Wall Street's biggest gain of the year, as merger activity boosted confidence there is still value in the market even as the S&P 500 nears a record high.

  • WASHINGTON, Feb 18- Raising the U.S. federal minimum wage to $10.10, as President Barack Obama and Democrats in Congress are proposing, could result in about 500,000 jobs being lost by late 2016, the Congressional Budget Office estimated on Tuesday.

  • TORONTO, Feb 18- The Canadian government has completed an auction of prized wireless spectrum and is poised to reveal the results within days, several sources with knowledge of the process said on Tuesday.