Latest Business News Wires - Business Headlines


  • SHANGHAI, May 20- China and Russia have not yet clinched a price agreement on a long-awaited multi-billion dollar gas supply contract, a Russian government official said on Tuesday, amid growing urgency for the Kremlin to seal a deal as it comes under pressure from Western nations over the crisis in Ukraine.

  • Credit Suisse CEO says "very committed" to Swiss bank Tuesday, 20 May 2014 | 3:22 AM ET

    ZURICH, May 20- Credit Suisse Chief Executive Brady Dougan said on Tuesday he remained "very committed" to the Swiss bank and had never considered stepping down. Dougan was speaking on a call with analysts and reporters after the U.S. government announced that his bank had agreed to pay a $2.5 billion fine after pleading guilty to helping Americans evade taxes.

  • European shares steady, Vodafone down after results Tuesday, 20 May 2014 | 3:14 AM ET

    LONDON, May 20- European shares steadied on Tuesday following losses in the previous three sessions, with telecom company Vodafone falling after saying its core earnings would fall in 2015 due to the investment needed in the business. National benchmark indices in U.K., France and Germany were trading flat to 0.1 percent higher.

  • China shares hover near 3-week lows, Moutai drags Tuesday, 20 May 2014 | 3:12 AM ET

    HONG KONG, May 20- China shares lingered at three-week lows on Tuesday, as continued losses in the beverage sector offset most gains from financial and energy counters. The CSI300 of the leading Shanghai and Shenzhen A-share listings finished flat.

  • *Gold edges down below $1,300 an ounce. SINGAPORE, May 20- Platinum was steady on Tuesday, holding on to overnight gains as labour strikes in top producer South Africa continued for a 17th week, disrupting supply of about 40 percent of the metal's global output.

  • LONDON, May 20- Britain's Vodafone said core earnings would fall in 2015 due to the investment needed in the business as it recorded impairments of 6.6 billion pounds due to fierce competition and regulatory changes in Europe.

  • SHANGHAI, May 20- Russia has offered to scrap extraction taxes for gas supplies designated for China, while Beijing is also looking to abolish import taxes for Russian gas, Russia's top oil producer Rosneft said on Tuesday. "We are talking about deposits that will be a source for gas supplies to China market.

  • *Investors warily eye Thailand martial law declaration. TOKYO, May 20- Asian shares slipped on Tuesday despite a solid performance on Wall Street, while the dollar wallowed close to its lowest level against the yen in more than three months.

  • Vodafone results in line, 2015 earnings to fall Tuesday, 20 May 2014 | 2:15 AM ET

    LONDON, May 20- Britain's Vodafone said its core earnings would fall in 2015 due to the investment needed in the business as it reported 2014 results in line with forecasts, helped by an improvement in underlying trading in the fourth quarter.

  • Russia, China yet to agree on gas deal price Tuesday, 20 May 2014 | 2:10 AM ET

    SHANGHAI, May 20- China and Russia have not yet reached a price agreement on a long-awaited gas supply contract and talks are still continuing between both parties, the Kremlin's spokesman Dmitry Peskov said on Tuesday.

  • NEW YORK, May 20- Days after the sudden termination of Jill Abramson as executive editor of The New York Times, the first woman to hold that position, the newspaper's publisher denied reports that she had been paid less than her predecessor.

  • WASHINGTON/ NEW YORK, May 20- U.S. prosecutors first raised the specter of a criminal plea by Credit Suisse Group AG more than two years after starting an investigation into whether the Swiss bank had helped wealthy Americans evade taxes.

  • Nikkei rises on slightly weaker yen; Yahoo Japan soars Tuesday, 20 May 2014 | 2:09 AM ET

    TOKYO, May 20- Japan's Nikkei share average rose on Tuesday, snapping a four-day losing streak supported by a slightly weakening yen, while Yahoo Japan Corp soared after dropping its plan to buy mobile network operator eAccess Ltd from SoftBank Corp. The Nikkei rose 0.5 percent to 14,075.25 points.

  • BEIJING, May 20- China's cabinet signalled on Tuesday it is closer to letting local governments directly sell bonds for the first time and said it would phase out opaque financing vehicles that are thought to have built up trillions of dollars of high-risk debt.

  • *Total moves staff from Tripoli; Sonatrach withdraws staff from Libya. SINGAPORE, May 20- Brent crude held steady above $109 a barrel on Tuesday, as unrest and low output in OPEC- producer Libya offset downwards pressure on prices from expectations of a build in weekly U.S. crude stocks to a record high.

  • BEIJING, May 20- China summoned the U.S. ambassador after the United States accused five Chinese military officers of hacking into American companies to steal trade secrets, warning Washington it could take further action, state media said on Tuesday.

  • BEIJING, May 20- China could miss its target for trade growth for a third consecutive year in 2014 as higher labour costs and weaker global demand hurt what has been one of the economy's main engines, a senior commerce ministry official said on Tuesday. China missed its trade growth targets of 8 percent in 2013 and 10 percent in 2012..

  • TOKYO, May 20- Japanese government bond prices were slightly weaker on Tuesday on a rise in domestic share prices and U.S. bond yields overnight, and after a 20- year JGB auction drew tepid demand. The 10- year JGB yield rose 0.5 basis point to 0.590 percent while the 30- year JGB yield rose 1.0 basis point to 1.695 percent.

  • Egypt turns to army in war on unemployment Tuesday, 20 May 2014 | 1:00 AM ET

    CAIRO, May 20- Since toppling the Muslim Brotherhood from power last year, the Egyptian army has turned its substantial economic firepower on another perceived threat to the country's stability: unemployment.

  • China Mobile hits four-month high after Goldman upgrade. HONG KONG/ SHANGHAI, May 20- Hong Kong shares rose on Tuesday, helped by China Mobile after a broker upgrade pushed shares of the Chinese telecom giant to their highest since the start of 2014..