Latest Business News Wires - Business Headlines


  • LAUSANNE, Switzerland, April 1- Private equity firms, which have been showing an increased interest in investing in the mining industry, will have a hard time even if they are betting on recovery in the longer term, the bosses of Anglo American and Glencore Xstrata said on Tuesday.

  • NEW YORK, April 1- Crude oil futures fell more than $1 per barrel on Tuesday, with U.S. oil futures pressured by expectations for a build in domestic inventories, and Brent by lackluster manufacturing data in China and Europe.

  • WASHINGTON, April 1- The broken U.S. tax code encourages companies to shift profits overseas, Republican senators said on Tuesday, seeking to deflect criticism from Caterpillar Inc at a hearing on how it allegedly avoided paying $2.4 billion in taxes.

  • NEW YORK, April 1- Textbook publisher Cengage Learning has ended its nine-month bankruptcy, emerging from Chapter 11 after reducing its $5.8 billion debt by more than two-thirds. In a statement on Tuesday, Stamford, Connecticut- based Cengage said it cut $4 billion in debt and secured $1.75 billion in new loans to fund its bankruptcy exit.

  • MOSCOW, April 1- Ford Sollers, a joint venture between U.S. automaker Ford Motor Co and Russian carmaker Sollers is cutting 700 staff in its plant near St Petersburg due to Russia's deteriorating economy and weaker rouble, the company said on Tuesday. Ford Sollers employs around 5,500 people around St Petersburg and in Tatarstan.

  • WASHINGTON, April 1- U.S. lawmakers trying to establish who is to blame for at least 13 auto-related deaths over the past decade are expected to harshly question General Motors CEO Mary Barra on Tuesday afternoon over the automaker's slow response to defective ignition switches in its cars.

  • Apple and Samsung Electronics Co Ltd have been litigating around the world for nearly three years. Jurors awarded the iPhone maker about $930 million after a 2012 trial in San Jose, California, but Apple failed to persuade U.S. The current trial involves a fresh batch of Apple patents, which cover iPhone features like slide to unlock and search technology.

  • WASHINGTON, April 1- U.S. factory activity rose in March, with production posting its biggest increase since the recession ended in the latest indication the economy was regaining its footing after a brutal winter.

  • NEW YORK, April 1- World equity markets added to recent gains on Tuesday as Wall Street hit a record high after strong factory data, while soft manufacturing numbers in China reinforced expectations that the country will undertake stimulus measures.

  • NEW YORK, April 1- News Corp, its Chairman Rupert Murdoch and other top officials have won the dismissal of a U.S. lawsuit accusing them of defrauding shareholders by concealing widespread, illegal phone hacking at two of its British newspapers.

  • FEATURE-YouTube sees money in gaming-video eyeballs Tuesday, 1 Apr 2014 | 1:14 PM ET

    SAN FRANCISCO, April 1- To imagine how YouTube might one day become a money-spinner for content producers, consider the power of the irreverent video gamer and online star PewDiePie over his young, free-spending audience.

  • In the Senate, the new chairman of the tax-writing Finance Committee unveiled legislation that would modestly trim the list of about 55 laws known as the "tax extenders" because they expire every year or two and need to be regularly extended.

  • *Wheat falls, finds support at 20- day moving average. "The U.S. Agriculture Department did nothing yesterday to dispel notions that U.S. old crop supplies are tight, requiring higher prices to discourage demand and encourage imports and early harvest of 2014 fields," Farm Futures analyst Bryce Knorr said in a note to clients.

  • April 1- Delaware Supreme Court Justice Jack Jacobs notified the state's governor that he planned to retire on July 4 and told Reuters on Tuesday that he hopes to return to private practice.

  • NEW YORK, April 1- New York legislators approved a $137.9 billion budget for the state's 2014-15 fiscal year late on Monday, providing funding for statewide full-day pre-kindergarten programs and keeping spending growth below 2 percent.

  • FDA said GSK did not fully investigate a list of objectional conditions the regulator sent after its inspection of the manufacturing plant at Cork, Ireland in October. The FDA said its investigator found that a certain drug ingredient, the name of which was not disclosed, was contaminated with material from the plant's pharmaceutical waste tank.

  • LAUSANNE, Switzerland, April 1- Some of the world's biggest oil and grains traders see little risk of any disruption to supplies from Russia, they said on Tuesday, despite the worst East-West crisis since the Cold War. Russia is the world's second-largest oil exporter after Saudi Arabia and is a major grains and metals exporter.

  • NEW YORK, April 1- The Pimco Total Return Fund, the world's largest bond fund run by Pimco co-founder Bill Gross, trailed 95 percent of its peers in March, increasing the risk that more money could flee the firm's flagship fund in the wake of a management shake-up.

  • NEW YORK/ LONDON/ BEIJING, April 1- Manufacturing in Asia and Europe finished the first quarter on a weaker note but activity in the United States remained relatively steady, suggesting severe winter weather in North America had only a modest effect on U.S. factories.

  • WASHINGTON, April 1- The World Bank plans to increase its funds for development by around 40 percent per year over the next decade as part of its first major realignment since 1997, the institution's president said on Tuesday.