Latest Business News Wires - Business Headlines


  • ECB cuts rates to new record low after inflation slump Thursday, 7 Nov 2013 | 7:49 AM ET

    FRANKFURT, Nov 7- The European Central Bank cut its main interest rate on Thursday to a new record low of 0.25 percent, responding to a surprise drop in inflation by easing policy to support the euro zone's weak economic recovery.

  • Canadian coffee chain Tim Hortons posts higher profit Thursday, 7 Nov 2013 | 7:44 AM ET

    Nov 7- Canadian coffee and doughnut chain Tim Hortons Inc reported an 8 percent rise in quarterly profit as same-store sales improved slightly in the United States. The company's net income rose to C $113.9 million, or 75 Canadian cents per share, in the third quarter ended Sept. 29 from C $105.7 million, or 68 Canadian cents per share, a year earlier.

  • WASHINGTON, Nov 7- Government-run Fannie Mae, the largest provider of U.S. residential mortgage funding, will pay the U.S. Treasury $8.6 billion after reporting a seventh consecutive quarterly profit on continued recovery in the real-estate market. The company posted a net income of $8.7 billion for the third quarter.

  • NEW YORK, Nov 7- Goldman Sachs Group Inc is being investigated over its currency trading activities, the biggest U.S. investment bank said in a regulatory filing on Thursday.

  • UPDATE 1-James River Coal idles four more mines Thursday, 7 Nov 2013 | 7:39 AM ET

    Nov 7- James River Coal Co said it idled four mines in eastern Kentucky in Central Appalachia and temporarily laid off about 200 employees as coal prices fall further. James River Coal shares were down about 0.5 percent in trading before the bell, after the coal miner reported a slide in shipments and a bigger loss for the third quarter.

  • Nov 7- Perfume and cosmetics maker Coty Inc reported lower-than-expected quarterly results, hurt by weak demand for its fragrances and nail products in the United States, and said it expected this trend to continue in the key holiday season.

  • *Siemens CEO says will hold off presenting strategy until May. BERLIN, Nov 7- Siemens' new Chief Executive Joe Kaeser promised on Thursday to buy back up to 4 billion euros worth of shares while asking investors for patience as he works out a strategy by May to close a gap with more profitable rivals.

  • Nov 7- BCE Inc, Canada's biggest telecom company, posted a 35 percent slump in quarterly profit, hurt by costs related to its $3 billion acquisition of Astral Media earlier this year. BCE's net earnings fell to C $343 million, or 44 Canadian cents per share, in the third quarter ended Sept. 30 from C $527 million, or 68 Canadian cents per share, a year earlier.

  • Nov 7- Agenus Inc said a mid-stage trial of its experimental genital herpes vaccine reduced the rate at which patients' were shedding the virus. The 15 percent reduction in viral shedding in patients receiving the vaccine compared to those on a placebo, who showed no reduction.

  • Nov 7- Twitter Inc could face volatile trade in its debut Thursday on the New York Stock Exchange, analysts said, but they remained enthusiastic after the money-losing social media company priced its IPO above the expected range.

  • *Twitter shares to debut on NYSE. Qualcomm falls after results, outlook. *Investors will also brace for the market debut of Twitter Inc, which priced its initial public offering, above the expected range, at $26 per share to raise at least $1.8 billion, a sign of strong investor demand for the most highly anticipated U.S. public float since Facebook Inc..

  • Nov 7- Coronado Biosciences Inc said its German partner discontinued a mid-stage study of its inflammatory bowel disease treatment due to lack of effectiveness. The company said on Thursday that its partner, Dr. Falk Pharma GmbH, discontinued the study on the recommendation of an independent data monitoring committee.

  • The company's net loss widened to $25.5 million, or 73 cents per share, in the third quarter ended Sept. 30, from a loss of $20.6 million, 59 cents per share, a year earlier.

  • BRUSSELS, Nov 7- Belgian grocer Delhaize took a second writedown on its operations in the Balkans, pushing it to an unexpected third-quarter loss.

  • *Big day for earnings; HeidelbergCement falls post results. LONDON, Nov 7- Earnings dominated the major movers on Europe's top share index but the FTSEurofirst 300 was barely changed ahead of the European Central Bank's November policy meeting.

  • LONDON, Nov 7- Copper steadied on Thursday off four-week lows touched in the previous session, underpinned by a weaker dollar as traders awaited a key U.S. labour report and a major leadership meeting in China for clues on economic policy and metals demand.

  • *Russia to grow 2.5 pct annually by 2030. MOSCOW, Nov 7- Russia on Thursday acknowledged for the first time that its economy would lag global growth over the next two decades, setting the stage for an era of stagnation that could threaten President Vladimir Putin's grip on power.

  • LONDON, Nov 7- The euro held firm as investors questioned how far the ECB would go on Thursday in hinting at policy easing, though world shares weakened before U.S. data which could set the course for the Federal Reserve's policy.

  • DUBLIN, Nov 7- Ireland has successfully passed its lenders' final review of an 85 billion euro bailout, paving the way for it to complete the aid deal in December, its finance ministry said on Thursday. "This is a significant day that many thought, and some feared, would never be reached," Finance Minister Michael Noonan told reporters.

  • *Q3 core profit $1.71 billion, beating forecasts. *Repeats sees 2013 core profit of more than $6.5 bln. BRUSSELS, Nov 7- ArcelorMittal, the world's largest steelmaker, said on Thursday its two-year slump was over and prospects for 2014 were looking up, after higher U.S. steel shipments and mining output boosted third-quarter profits.

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