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Latest Business News Wires - Business Headlines

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  • *AstraZeneca shares up 2 percent. LONDON, Aug 29- Hopes for AstraZeneca's promising cancer drug pipeline were boosted on Friday by news the company had moved its immuno-oncology medicine MEDI-4736 into a mid-stage study in colorectal cancer.

  • LONDON, Aug 29- Brent crude oil prices rose towards $103 a barrel on Friday as escalating violence in Ukraine kept Europe's markets on edge, but prices were still on track for a monthly loss as ample supply and weak demand outweighed political concerns.

  • *FTSEurofirst 300, Euro STOXX 50 up 0.1 pct. *Euro STOXX 50 set for best monthly gain since Feb. LONDON, Aug 29- European shares trimmed their early gains on Friday as euro zone inflation data slightly cooled market speculation about fresh monetary stimulus by the European Central bank.

  • *Malaysia Airlines to cut staff by 30 pct to 14,000. KUALA LUMPUR, Aug 29- Malaysia Airlines will slash nearly a third of its 20,000 workforce and cut back its global route network as part of a radical 6 billion ringgit restructuring following the devastating impact of two jetliner disasters.

  • LONDON, Aug 29- Banks, investors and other users of bond markets have agreed to change how they would deal with defaulting government debt in an attempt to avoid the disputes seen with Argentina. A small group of U.S. hedge funds rejected Argentina's 2005 and 2010 debt restructurings, pushing the country into default in July.

  • UPDATE 2-Fiat signals Chrysler merger on track Friday, 29 Aug 2014 | 5:55 AM ET

    MILAN, Aug 29- Fiat signalled its merger with U.S. affiliate Chrysler was on track on Friday as a tally of shareholders suggested most had chosen not to exercise an option that could derail the plan, a vital step in the Italian carmaker's turnaround efforts.

  • BRUSSELS/ FRANKFURT, Aug 29- Euro zone inflation dropped as expected to a fresh five year low in August, data showed on Friday, something likely to concern the European Central Bank but not force it into immediate policy intervention.

  • ANALYSIS-Draghi dials R for Reform. Line is busy Friday, 29 Aug 2014 | 5:39 AM ET

    FRANKFURT, Aug 29- Two years ago, euro zone government leaders hung on Mario Draghi's every word. Now the European Central Bank chief is struggling to get through to them. "The essential cohesion of the Union depends on it," Draghi said in July, repeating the plea on Aug. 7.

  • MOSCOW, Aug 29- Russian Foreign Minister Sergei Lavrov said on Friday that allegations Russia's military is fighting in eastern Ukraine are "conjecture".

  • *Mobile is weakest link in Sony's struggling electronics division. TOKYO, Aug 29- Japanese wireless operator SoftBank Corp will offer a Sony smartphone for the first time, selling a soon-to-be-launched Xperia in Japan, and in the United States via its unit Sprint, sources with knowledge of the matter said.

  • RUSSIA'S FOREIGN MINISTER LAVROV SAYS WESTERN ALLEGATIONS THAT RUSSIAN MILITARY IS IN EASTERN UKRAINE ARE "CONJECTURE", NO FACTS HAVE BEEN PRESENTED.

  • BRUSSELS, Aug 29- Euro zone inflation dropped as expected to a fresh five year low in August, data showed on Friday, but it was not likely to force the European Central Bank into immediate policy intervention next week,.

  • LISBON, Aug 29- On June 9, with his 150- year-old Portuguese corporate dynasty close to collapse, patriarch Ricardo Espirito Santo Salgado made a desperate attempt to save it. The "cartas-conforto"- letters of comfort- were written on the letterhead of Banco Espirito Santo, a large lender controlled by the family.

  • *Share markets weak as Russia- Ukraine tensions swirl. LONDON, Aug 29- The euro was near a year low and on course for a fourth week of falls on Friday ahead of what was expected to be another stodgy euro zone inflation reading, and as tensions with Russia over Ukraine kept the region on edge.

  • BEIJING, Aug 29- China's Tencent Holdings Ltd has suspended more than 300 accounts on its WeChat mobile messaging app and banned around 40 others as government restrictions on spreading political news online take effect, state media said on Friday.

  • Europe shares inch; Tesco sinks after warning Friday, 29 Aug 2014 | 4:30 AM ET

    *FTSEurofirst 300 up 0.3 pct, Euro STOXX 50 up 0.5 pct. PARIS, Aug 29- European shares rose in early trade on Friday, recovering some of the ground lost in the previous session as investors awaited inflation figures that may shed light on the European Central Bank's next policy move.

  • Market body revises rules for sovereign defaults Friday, 29 Aug 2014 | 4:25 AM ET

    LONDON, Aug 29- Banks, investors and other users of bond markets have agreed to change how they would deal with defaulting government debt in an attempt to avoid the disputes seen with Argentina. A small group of U.S. hedge funds rejected Argentina's 2005 and 2010 debt restructurings, pushing the country into default in July.

  • TOKYO, Aug 29- SoftBank Corp is to offer a Sony Corp smartphone for the first time, selling the upcoming Xperia handset both in Japan and through subsidiary Sprint Corp in the United States, sources with knowledge of the matter said.

  • Aug 29- Hong Kong's benchmark index ended flat on Friday after three successive days of losses, supported partly by strength in mainland markets although lackluster corporate earnings capped gains. The Hang Seng Index reversed the morning's losses to end flat at 24,742.06 points.

  • PARIS, Aug 29- Russia's top carmaker Avtovaz plans to reduce staff numbers to 30,000 by 2020 from 55,000 to boost competitivity, finance head Evgeny Belinin told France's Les Echos daily business newspaper at the Moscow motor show.