Latest Business News Wires - Business Headlines


  • Alibaba offers to take AutoNavi private Monday, 10 Feb 2014 | 7:57 AM ET

    Feb 10- Chinese digital mapping and navigation firm AutoNavi Holdings Ltd said it had received an offer to be taken private by major shareholder Alibaba Group Holding Ltd. Alibaba has offered to buy the 72 percent of AutoNavi that it does not already own for $21 per American depository share, valuing the company at $1.45 billion.

  • US STOCKS-Futures pull back after two-day rally Monday, 10 Feb 2014 | 7:46 AM ET

    *Yelp climbs on deal with Yahoo. NEW YORK, Feb 10- U.S. stock index futures dipped on Monday, indicating the S&P 500 would retreat after its best two-day performance in four months, ahead of new Federal Reserve Chair Janet Yellen's first testimony before lawmakers on Tuesday.

  • Hasbro, the second-largest U.S. toy company, said its net earnings in the fourth quarter fell to $129.8 million, or 98 cents a share, from $130.3 million, or 99 cents a share, a year earlier. Excluding restructuring charges and other items, Hasbro earned $1.12 a share, missing the analysts' average estimate of $1.22, according to Thomson Reuters I/B/E/S.

  • *New Fed chief with dovish history to testify in Congress. LONDON, Feb 10- Norway's crown stood out among G10 currencies on Monday, jetting almost 1 percent higher against the euro and dollar after higher than expected inflation was read as eliminating the chances of an interest rate cut.

  • COLUMN-Living without water in the U.S. West: Kemp Monday, 10 Feb 2014 | 7:29 AM ET

    LONDON, Feb 10- Water supplies across the western and southwestern United States are becoming severely strained as more people move into areas with limited rainfall and shrinking groundwater.

  • L'Oreal's surge helps keep European shares steady Monday, 10 Feb 2014 | 7:27 AM ET

    LONDON, Feb 10- European shares traded flat on Monday, as cosmetics maker L'Oreal gained on expectations it will buy back its shares owned by Nestle and helped to keep the market steady after its recent gains.

  • Feb 10- Kite Realty Group Trust, an operator of community shopping centers, said it would buy Inland Diversified Real Estate Trust Inc for about $1.2 billion in stock. The deal would allow Kite Realty to enter markets including Westchester, New York, Bayonne, New Jersey, Las Vegas, Virginia Beach and Salt Lake City.

  • *Loews' fourth-quarter net loss $198 mln vs $32 mln year earlier. Feb 10- CNA Financial Corp said it would sell its life and group insurance business, on the same day that parent Loews Corp reported a bigger quarterly loss, hurt by impairment charges.

  • Hasbro disappoints in holiday quarter Monday, 10 Feb 2014 | 7:09 AM ET

    Feb 10- Toymaker Hasbro Inc, known for brands such as Monopoly, Nerf and My Little Pony, reported a lower-than-expected quarterly profit on weak sales in North America during the holiday season.

  • MUMBAI, Feb 10- Tata Motors Ltd, India's biggest automaker by revenue, saw third-quarter net profits triple to their highest in a year-and-a-half on strong demand for its luxury Jaguar Land Rover vehicles and a one-time accounting gain. British luxury carmaker JLR, which Tata Motors bought in 2008, has been propping up profits at its parent for the past two years.

  • *Portugal plans 10- year debt sale- Diario Economico. *Portugal aims to capitalise on investor hunger for yield. Portugal aims to exit a 78 billion euro EU/IMF bailout later this year and investor demand at such debt sales will be seen as a measure of the Lisbon's ability to secure funding without an international safety net.

  • HONG KONG, Feb 10- Swiss bank UBS AG has put two bankers on leave as part of an internal investigation into the hiring of a close relative connected to a potential Chinese corporate client, IFR reported on Monday.

  • SINGAPORE, Feb 10- Singapore Airlines has begun weighing a potential order for dozens of wide-body jets as it compares Boeing's revamped 777 X against Europe's Airbus A350, three sources familiar with the matter said.

  • ZURICH, Feb 10- European partners threatened on Monday to review their relations with Switzerland after voters in the Alpine nation narrowly backed a proposal to curtail immigration from the EU in a referendum that has also unsettled Swiss business.

  • LONDON, Feb 10- Gold rose on Monday after a weak U.S. jobs report raised questions over economic recovery, which could potentially slow the pace of the Federal Reserve's stimulus tapering.

  • Feb 10- Loews Corp, controlled by the billionaire Tisch family, reported a bigger quarterly loss, hurt by impairment charges. Loews said it took goodwill impairment charges of $398 million in the quarter, primarily related to low market prices for natural gas and natural gas liquids in its HighMount Exploration& Production LLC unit.

  • Russian authorities say bitcoin illegal Monday, 10 Feb 2014 | 6:01 AM ET

    Russian authorities have issued warnings against using bitcoin, saying the virtual currency could be used for money laundering or financing terrorism.

  • PARIS, Feb 10- The outlook for most advanced economies is improving, with recoveries in the United States and Japan leading the way, the OECD's latest monthly leading indicator showed on Monday.

  • Former Madoff aides get their day in court Monday, 10 Feb 2014 | 6:00 AM ET

    NEW YORK, Feb 10- Four months into a criminal trial for five former employees of Bernard L. Madoff Investment Securities, witnesses have made it clear that no one but Madoff himself knew the whole truth about his massive Ponzi scheme, from his top lieutenant on down.

  • *Lead up, China to extend electric car subsidies past 2015. LONDON, Feb 10- Copper was little changed on Monday after posting its largest weekly rise for the year, as renewed tightness in supply was offset by worries about demand in top consumer China, and by expectations of U.S. monetary tapering.