Latest Business News Wires - Business Headlines


  • PANAMA CITY/ MADRID, Feb 7- The companies working to widen the Panama Canal and the waterway's administrator on Friday each made new proposals aimed at reviving the multibillion dollar project, after talks broke down this week amid a cost spat and work ground to a halt.

  • BOSTON, Feb 7- U.S. mutual funds with heavy exposure to Puerto Rico bonds have sold off some of the cash-strapped island's debt to meet investor redemption demands, taking heavy losses after a year-long slide in prices.

  • NEW YORK, Feb 7- After the S&P 500' s first weekly gain in a month, investors will see next week whether the U.S. stock market's rally of the last two days is the shape of better things to come- or if this year's weakness will turn into a full-fledged correction.

  • NEW YORK, Feb 7- Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, urged a U.S. judge on Friday to dismiss insider trading charges leveled against him last year. A grand jury subsequently indicted Rengan Rajaratnam, a former portfolio manager at Galleon, in March 2013 on seven counts of conspiracy and securities fraud.

  • DIARY - Top economic Events to Feb 21 Friday, 7 Feb 2014 | 7:01 PM ET

    ROME- 20th Annual Congress of Financial Markets Operators organised by ASSIOM FOREX. BRUSSELS/ FRANKFURT/ BERLIN/ LONDON/ PARIS- Reuters Euro Zone Summit 2014 SUDBURY, Canada- Bank of Canada Deputy Governor John Murray will make a presentation in Sudbury, Ontario as part of the central bank's regional outreach program- 1735 GMT.

  • WASHINGTON, Feb 7- U.S. officials wrongly aided coal companies seeking federal land leases and accepted below-value bids in a flawed program costing taxpayers tens of millions of dollars, according to an independent review of the U.S. Interior Department.

  • *Investors shrug off disappointing jobs report, citing weather impact. NEW YORK, Feb 7- Global equity markets surged on Friday as investors set aside any fear of economic softness in a weak U.S. jobs report, but bond yields and the dollar fell as the data showed employers hired far fewer workers than expected in January.

  • Armstrong's comments on Thursday during a company town hall meeting about why it was cutting 401 contributions caused a fire storm on social media, overshadowing positive quarterly results from AOL.

  • NEW YORK, Feb 7- Moody's Investors Service on Friday became the second ratings agency this week to cut Puerto Rico's credit rating to junk, citing concern about the cash-strapped U.S. territory's weak economy and its ability to borrow.

  • EAST LANSING, Mich., Feb 7- In a large barn smelling faintly of horses, President Barack Obama signed the $956 billion farm bill into law on Friday, comparing the five-year law to "a Swiss Army knife" because of the variety of ways it can support jobs in America.

  • US STOCKS-Wall St rallies to snap three-week skid Friday, 7 Feb 2014 | 4:44 PM ET

    *Apple leads market higher on buyback boost. *Online travel agencies' shares fly after Expedia results. NEW YORK, Feb 7- U.S. stocks jumped on Friday, giving the S&P 500 its first weekly gain in four as the impact of a weak reading on the labor market was dulled by harsh weather conditions and traders focused on expectations of further economic strength.

  • *U.S. crude rises above $100 for first time in 2014. NEW YORK, Feb 7- Oil rose by more than $2 to one-month highs on Friday, fueled by a sharp rally in gasoline and heating oil as supplies tightened and refiners started to shut down plants for maintenance.

  • Feb 7- The U.S. Chamber of Commerce on Friday called on the government to ratchet up pressure on India over intellectual property rights, in a move that could help prevent Indian companies from producing cheap generic versions of medicines still under patent protection.

  • WASHINGTON, Feb 7- The Obama administration warned Congress on Friday the federal government could start missing payments on its bills soon after Feb. 27 if lawmakers do not raise a limit on public borrowing.

  • NEW YORK, Feb 7- U.S. crude oil rallied above $100 a barrel on Friday and gold and copper prices rose too after a weak U.S. jobs report for January led to expectations the Federal Reserve might slow down its stimulus cutback and rate hike plans.

  • NEW YORK, Feb 7- The dollar drifted lower after a weaker-than-expected U.S. jobs report on Friday that muddies the waters but is seen as unlikely to dissuade the Federal Reserve from diverting from its path of steadily removing monetary stimulus from the U.S. economy.

  • WASHINGTON, Feb 7- U.S. manufacturing stayed on solid ground in January, with employers stepping up hiring by adding 21,000 jobs to their payrolls and boosting their labor market share.

  • But Apple shares rose 1.4 percent on Friday to $519.68, and the buyback should afford Chief Executive Tim Cook some kudos from big investors like Carl Icahn, who have been urging the company to return more money to shareholders.

  • NEW YORK, Feb 7- U.S. stocks rose on Friday, giving the S&P 500 its first weekly gain in four as the impact of a weak reading on the labor market was dulled by harsh weather conditions and traders focused on expectations of further economic strength.

  • LONDON, Feb 7- Swiss bank UBS AG approached U.S. authorities in September with information relating to an industry-wide probe into alleged rigging of currency markets, in the hope of gaining antitrust immunity if charged with wrongdoing, sources familiar with the matter told Reuters.