Latest Business News Wires - Business Headlines


  • Sturm Ruger's quarterly profit misfire hits shares Wednesday, 26 Feb 2014 | 1:31 PM ET

    Feb 26- Shares of Sturm Ruger& Co Inc slid 12 percent after the gun maker's quarterly profit missed Wall Street estimates for the first time in four years due to higher costs aimed at increasing production.

  • WASHINGTON, Feb 26- Income inequality can lead to slower or less sustainable economic growth, while redistribution of income, when measured, does not hurt and can even help an economy, IMF staff found in a research study released on Wednesday.

  • WASHINGTON, Feb 26- Mythili Raman, the top criminal prosecutor at the U.S. Department of Justice, is planning to leave the agency next month, wrapping up a year overseeing high-profile investigations into global market manipulation.

  • WASHINGTON, Feb 26- Sales of new U.S. single-family homes surged to a 5-1/ 2- year high in January, but the bounce was likely to be short-lived amid signs of a broader weakness in the housing market.

  • NEW YORK, Feb 26- U.S. The U.S. government bond market enjoyed a brief safe-haven rally after Russian President Vladimir Putin put combat troops on high alert for war games near Ukraine, following the toppling of its ally Viktor Yanukovich as president, traders said.

  • Deeply scarred economy awaits Italy's fresh-faced Renzi Wednesday, 26 Feb 2014 | 12:50 PM ET

    *Italy's industrial production down a quarter from pre-crisis peak. The study of the competitiveness of Italy's economy by national statistics office ISTAT showed an economy deeply damaged by two recessions since the financial crisis of 2008..

  • Europe share rally pauses; FTSE, DAX eye record highs Wednesday, 26 Feb 2014 | 12:45 PM ET

    *FTSEurofirst 300 down 0.2 pct, Euro STOXX 50 down 0.3 pct. Credit Suisse was also in the spotlight, losing 2.5 percent as a U.S. Senate subcommittee alleged new misdeeds by the Swiss lender.

  • BOSTON, Feb 26- Cape Wind said on Wednesday it has secured $600 million in financing for its proposed $2.5 billion wind power farm off the Massachusetts coast, and expects to have the rest locked up by the end of the third quarter.

  • Secretary of State John Kerry didn't elaborate on the plan, which comes as Washington increases its support for Georgia and Moldova, which are seeking more integration with Western Europe and rejecting pressure from former master Russia.

  • Feb 26- Barnes& Noble Inc reported a profit for the holiday quarter after it scaled back its money-losing Nook digital business and its core bookselling business stabilized.

  • *Gold on track for biggest one-day loss in nearly a month. By Frank Tang and Clara Denina. NEW YORK/ LONDON, Feb 26- Gold fell 1 percent on Wednesday, retreating from a four-month high, as a dollar rally and surging U.S. new home sales dented bullion's safe-haven appeal.

  • MADRID, Feb 26- Spanish oil major Repsol said on Wednesday it was on the lookout for acquisitions to boost its exploration and production business following the bruising loss of its Argentine energy arm two years ago.

  • *Germany and Britain blocked reform, says MEP. Schemes used by Starbucks, Apple, Amazon and other corporations operating within the law to minimise their tax burden prompted heated public debate last year and a pledge by British Prime Minister David Cameron and others to tackle the issue.

  • WASHINGTON, Feb 26- The U.S. House of Representatives' top Republican tax writer will release a plan on Wednesday to overhaul the tax code, but it was widely seen as dead-on-arrival in a Congress still deeply divided over fiscal policy.

  • Global smartphone growth to fall sharply in 2014 - IDC Wednesday, 26 Feb 2014 | 12:08 PM ET

    SAN FRANCISCO, Feb 26- Growth in global smartphone shipments will fall sharply this year and keep slowing through 2018, with average prices dropping significantly as demand shifts to China and other developing countries, according to market research firm IDC.

  • Ukraine tension sends German yields to near 3-week lows Wednesday, 26 Feb 2014 | 12:08 PM ET

    *Russian troops on alert in drill near Ukraine border. LONDON, Feb 26- German government bond yields fell to their lowest in nearly three weeks on Wednesday as mounting geopolitical tensions over Ukraine spurred flows into low-risk debt.

  • *Ruble hits five-year low on Ukraine fallout. NEW YORK, Feb 26- World stocks markets were flat on Wednesday as worries about some emerging markets grew as the Russian ruble hit a five-year low as tensions escalated in Ukraine, while equities on Wall Street rose.

  • Feb 26- Cablevision Systems Corp lost fewer video subscribers than expected in the fourth quarter and said the company expects growth in cash flow in 2014, which sent shares of the cable operator higher on Wednesday.

  • SAO PAULO/ LONDON, Feb 26- Ukraine's hryvnia currency tumbled on Wednesday to a record low, as investors were unsettled by the country's murky political and economic outlook, while Brazil's real retreated after a five-day rally.

  • Delta: No more miles! Wednesday, 26 Feb 2014 | 11:50 AM ET
    Ground crew personnel service Delta planes at the Salt Lake City international Airport on November 27, 2013 in Salt Lake City, Utah.

    Delta said it will become the latest carrier to change its frequent-flier program to a system based on ticket price rather than miles.