Latest Business News Wires - Business Headlines


  • PANAMA CITY, June 26- Minera Panama, a subsidiary of Canada's First Quantum Minerals Ltd, said on Thursday it has shut down until further notice a $6.4 billion copper project in the country, citing labor disruptions.

  • SINGAPORE, June 27- Gold was little changed early in Asian trading on Friday but looked likely to fall as concerns grew over weak physical demand and discovery of $15 billion of loans tied to falsified gold deals in top consumer China.

  • *Household spending slumps after April 1 tax hike. TOKYO, June 27- Japan's household spending unexpectedly fell in May as an increase in sales tax continued to hurt consumption, raising doubts about the Bank of Japan's optimistic economic outlook.

  • The initial contract covers development and delivery of four Combat Rescue Helicopters based on the company's workhorse UH-60 Black Hawk, and caps nearly 15 years of repeated unsuccessful efforts by the Air Force to replace its aging fleet of HH-60G Pave Hawk rescue helicopters.

  • June 26- A lawsuit brought by the U.S. derivatives regulator against a Chicago speed-trading firm and its prominent founder claiming they manipulated prices may go forward, a New York federal judge ruled on Thursday.

  • SEOUL, June 27- South Korea's industrial output fell by the most in more than five years in May from the previous month, data showed on Friday, far missing market expectations and adding to signs the economic recovery may be losing steam.

  • DETROIT/ NEW YORK, June 26- An accident that left a Georgia woman blind in one eye and a subsequent lawsuit led to General Motors Co's recall of about 33,000 Chevrolet Cruze sedans in North America for potentially defective air bags made by Takata Corp..

  • *Household spending slumps after April 1 tax hike. TOKYO, June 27- Japan's core consumer inflation eased slightly in May when excluding the effect of a sales tax hike, and is seen slowing in coming months as the boost from a weak yen fade, keeping the central bank under pressure to maintain its massive stimulus.

  • Japan May jobs-applicants ratio hits two-decade high Thursday, 26 Jun 2014 | 7:39 PM ET

    TOKYO, June 27- The availability of jobs in Japan rose to the highest in more than two decades and the jobless rate fell to 3.5 percent in May, in an encouraging sign that a tighter labour market will boost wages and support consumer spending.

  • Japan May core CPI up 3.4 pct yr/yr, fastest since 1982 Thursday, 26 Jun 2014 | 7:35 PM ET

    TOKYO, June 27- Japan's core consumer prices rose 3.4 percent in May from a year earlier, the fastest since April 1982, as an increase in the national sales tax continued to boost prices, data from the Ministry of Internal Affairs and Communications showed on Friday.

  • *Prices IPO at lower-end of the $17- $19 range. June 26- The Michaels Cos Inc's raised about $472.6 million in its initial public offering after pricing shares at $17, the lower end of an expected range, the New York Times reported on Thursday, citing two people briefed on the matter.

  • June 26- Hewlett-Packard Co has won the dismissal of a lawsuit accusing the computer maker of securities fraud for misleading shareholders about its commitment to ethics while its chief executive was allegedly engaging in sexual harassment. Hurd, who is now president of Oracle Corp, had won wide credit at HP for improving the company's fortunes.

  • Crafts retailer Michaels prices IPO at $17/shr -NYT Thursday, 26 Jun 2014 | 7:08 PM ET

    June 26- The Michaels Cos Inc's initial public offering was priced at $17 per share, the lower end of an expected range, the New York Times reported on Thursday, citing two people briefed on the matter.

  • Banks withdraw from Barclays' dark pool -FT Thursday, 26 Jun 2014 | 6:50 PM ET

    June 26- Big banks have started pulling their business out of Barclays' dark pool, after the British bank was sued by New York's top securities regulator for allegedly misleading institutional investors over its anonymous trading venue, The Financial times reported.

  • WASHINGTON, June 26- The Obama administration said on Thursday it would tap Treasury funds to bolster the construction of affordable rental housing and extend the life of a program aimed at helping homeowners avoid foreclosure.

  • U.S. gas prices to rise if biofuel mandate not cut -CBO Thursday, 26 Jun 2014 | 6:39 PM ET

    WASHINGTON, June 26- U.S. gasoline prices could rise by up to 26 cents a gallon by 2017 if the Environmental Protection Agency does not lower the ambitious targets in a federal biofuel use mandate, the Congressional Budget Office said on Thursday.

  • After 125 years, Alcoa looks beyond aluminum Thursday, 26 Jun 2014 | 6:39 PM ET

    June 26- Alcoa Inc, the company that helped create the aluminum industry more than a century ago, is reinventing itself as a manufacturer of specialized components for aerospace and automotive customers, including some that contain no aluminum at all.

  • PARIS/ WASHINGTON, June 26- The European Union and the United States are not poised to slap fresh sanctions on Russia on Friday despite a U.S. warning that Moscow had only' hours "to act on disarming Ukraine separatists, Western diplomats said.

  • June 26- Chemicals maker DuPont cut its operating profit forecast for the second quarter and the full year, saying sales in its agriculture and performance chemicals units increased at a slower pace than it had expected. DuPont has been focusing on its agriculture business, its biggest, for the past few quarters.

  • NEW YORK, June 26- A top official in the U.S. Attorney's Office in Manhattan who oversaw a number of high-profile insider trading cases is joining law firm Paul, Weiss, Rifkind, Wharton& Garrison, the New York firm said on Thursday.