Latest Business News Wires - Business Headlines


  • SAN FRANCISCO, March 21- Turkey's abrupt ban on Twitter Inc stirred concerns on Friday that the country may pull the plug on other social media and Internet services as it grapples with internal turmoil. Some people within Google feared an imminent blackout in the wake of Twitter's ban, the Journal cited the people as saying.

  • DIARY - Top economic Events to April 3 Friday, 21 Mar 2014 | 8:01 PM ET

    WASHINGTON- Federal Reserve Board Governor Jeremy Stein gives welcome remarks before the Federal Reserve "Crowdfunding for Community Development Finance" conference- 1300 GMT.

  • Oleo e Gas, formerly known as OGX, filed Latin America's largest ever bankruptcy on Oct. 30. OSX gets nearly all of its revenue from Oleo e Gas and its a principal creditor of the company. Both OSX and Oleo e Gas are controlled by Brazilian businessman Eike Batista.

  • NEW YORK, March 21- The prevailing trend in U.S. stocks could be higher next week if investor anxiety eases over the crisis in Ukraine and signs of weakness in the U.S. economy.

  • CHICAGO, March 21- The amount of pork in U.S. cold storage warehouses in February reached a record high for a third straight month, according to the U.S. Department of Agriculture's monthly cold storage report issued on Friday.

  • House of Representatives introduced a bill that does not include IMF reforms requested by the Obama administration, setting up a potentially time-consuming showdown with the Democratic-controlled Senate, which is expected to back the changes.

  • *Gilead Sciences plunges, hitting biotech names. NEW YORK, March 21- Biotechnology stocks suffered their worst day since October 2011 on Friday, raising questions among investors whether the sector is finally running out of momentum.

  • Transportation Secretary Anthony Foxx asked the department's inspector general on Friday to review whether the government's auto safety agency had properly investigated reports of ignition problems in recalled General Motors cars that have been linked to 12 deaths.

  • The biggest change was for American Express, whose minimum capital ratio under stress declined by 0.5 percentage point to 12.1 percent. M&T Bank, which had the next lowest capital level on Thursday, was revised up by 0.3 percentage point to 6.2 percent under stress.

  • SAN FRANCISCO, March 21 (Reuters)- Twitter Inc said on Friday it hopes access to its social media service in Turkey will be restored soon, a day after it was blocked by the country's government. Analysts and observers said they were not immediately concerned that the ban in Turkey could embolden other governments to follow suit and clamp down on Twitter.

  • The alleged price-fixing involved bids for 15 contracts worth 9.4 billion reais for subways and urban railway lines built in Sao Paulo, Rio de Janeiro, Belo Horizonte, Brasilia and Porto Alegre between 1998 and 2013..

  • NEW YORK, March 21- Securities-sector regulator FINRA said on Friday it was examining secondary trades in Puerto Rico's blockbuster $3.5 billion bond deal for possible violations of rules requiring minimum sales of $100,000.

  • NEW YORK, March 21- World markets steadied on Friday after a volatile week driven by speculation over shifts in U.S. monetary policy, with equities holding near break-even, the euro up slightly against the dollar and crude oil rising on fear of supply disruptions over Crimea.

  • *Ambitious projects underway in Europe, United States. KUALA LUMPUR, March 21- The ease with which a big jetliner melted into the ether after vanishing from Malaysian radar illustrates an uncomfortable paradox about modern aviation: state-of-the-art airplanes rely on ageing ground infrastructure to tell them where to go.

  • *Nike shares fall after results. Biogen Idec Inc, down 8.2 percent at $318.53, and Gilead Sciences Inc, down 4.6 percent at $72.07, were the two biggest drags on the S&P 500. The Nasdaq biotech index fell 4.4 percent.

  • March 21- U.S. lawmakers have asked Gilead Sciences Inc to explain the $84,000 price tag of its new hepatitis C drug Sovaldi, which is encountering resistance from health insurers and state Medicaid programs. Biogen Idec fell 8 percent, Amgen Inc dropped 3 percent and Celgene Corp lost 3.7 percent.

  • WASHINGTON, March 21- Federal Reserve Chair Janet Yellen was likely just repeating the views of private analysts and investors when she said the central bank could raise interest rates around six months after ending its massive bond-buying program, a top Fed official said on Friday.

  • WASHINGTON, March 21- Raising interest rates to head off a potential financial crisis is simply not worth it, a top Federal Reserve official said on Friday.

  • WASHINGTON, March 21- The U.S. Air Force on Friday estimated that Boeing Co's development of a new refueling plane will cost nearly $1.1 billion more than initially planned, but the terms of the government's contract mean Boeing must cover the added costs.

  • NEW YORK, March 21- Sprint Corp cut 330 jobs and closed 55 stores around the country this week, as part of an ongoing plan to shrink its workforce in 2014, Cnet.com reported. The operator also closed call centers in New York, Kansas, California and is shrinking centers in Florida and Texas.