Latest Business News Wires - Business Headlines


  • U.S. equipment and software providers such as IBM Corp and Cisco Systems Inc have already seen their China sales drop after last year's revelations by former National Security Agency contractor Edward Snowden of U.S. government spying. IBM's China sales have fallen by a fifth or more for three straight quarters, the Armonk, NY- based firm reported in April.

  • *Putin on visit to Shanghai, wins support on Ukraine. SHANGHAI, May 20- China and Russia failed to sign a $400 billion gas supply agreement on Tuesday, despite growing urgency for the Kremlin to seal a deal as it faces economic and political isolation in the West over the crisis in Ukraine.

  • European shares steady, pegged back by Vodafone Tuesday, 20 May 2014 | 7:20 AM ET

    *Credit Suisse up after tax settlement. LONDON, May 20- European shares traded flat on Tuesday, held back by Vodafone, after the world's second-largest mobile network operator reported huge impairment costs.

  • UPDATE 1-Staples forecasts fall in sales, shares drop Tuesday, 20 May 2014 | 7:14 AM ET

    May 20- Staples Inc forecast a decline in sales in the current quarter as it struggles to win back shoppers who have shifted office supply purchases to e-retailers, mass merchants and drugstores.

  • *CPI rises for first time since June 2013. LONDON, May 20- British inflation rose in April for the first time in 10 months, but as the increase was partly due to a late Easter holiday, which pushed up transport costs, it was unlikely to alter interest rate expectations.

  • KABUL, May 20- The frontrunner in Afghanistan's presidential race, Abdullah Abdullah, has promised to rescue the ailing economy by healing a rift with the West and passing laws to tackle corruption and money laundering to reassure hesitant foreign donors.

  • WASHINGTON, May 20- President Barack Obama's landmark rules to cut power plant emissions will likely give a fresh push to regional U.S. carbon cap-and-trade systems by allowing for a holistic, state-wide view of new pollution targets, sources familiar with the process said.

  • TOKYO, May 20- Japan's ruling Liberal Democratic Party will urge cutting the corporate tax rate while expanding the tax base in a bid to make the nation's companies more internationally competitive, according to draft proposals seen by Reuters on Tuesday.

  • TOKYO, May 20- The Bank of Japan's next policy move should be to consider tapering its asset purchases rather than expanding monetary stimulus further, the bank's former top economist said, warning that the costs of boosting bond purchases outweigh the benefits.

  • LONDON, May 20- European shares and peripheral bonds buckled for a second day running on Tuesday, as political angst outset optimism over fresh support from the ECB. Coupled with recent disappointing growth data, the worry is that strong showings by Eurosceptic parties from Greece to France could derail domestic reforms.

  • May 20- Home Depot Inc, the world's largest home improvement chain, reported lower-than-expected quarterly sales as its spring selling season got off to a slow start after a severe winter in many parts of the United States. Spring is also an important time for Home Depot as households prepare their gardens and get set for the barbecue season.

  • *Credit Suisse will not hand over client data to U.S. WASHINGTON/ NEW YORK/ ZURICH, May 20- Credit Suisse has agreed to pay a $2.5 billion fine to authorities in the United States for helping Americans evade taxes after becoming the largest bank in 20 years to plead guilty to a U.S. criminal charge.

  • Peripheral bond yields rise on EU election nervousness Tuesday, 20 May 2014 | 6:43 AM ET

    *Italy vs Spain emerges as key pre-election trade. LONDON, May 20- Yields on the euro zone's lower-rated bonds rose on Tuesday, as investors grew increasingly nervous about the outcome of this week's EU elections, which could derail domestic economic reforms.

  • *Platinum awaits court ruling on mining company actions. *WGC report shows India, China demand in Q1 dropped. LONDON, May 20- Platinum prices rose back towards two-month highs on Tuesday as the longest and costliest miners' strike in South African history ground on, while gold steadied as gains in the dollar held it near key chart support.

  • *China may miss trade target for third straight year. Copper dipped as persistent concerns about Chinese growth outweighed a tight physical market. Nickel, which is up more than 40 percent this year after top producer Indonesia banned unprocessed ore exports, pared its losses to trade at $19,650 by 1012 GMT, down 2.2 percent.

  • Renegade ex-general steps into Libya's militia fray Tuesday, 20 May 2014 | 6:31 AM ET

    *Western governments fear chaos in Libya could spread to neighbors. ALGIERS/ TRIPOLI, May 20- When a dispute erupted over dissolving Libya's parliament last February, a former general dressed in full army uniform made a surprise television broadcast calling on the military to "rescue" the country.

  • LONDON, May 20- Smokers trying to quit are 60 percent more likely to report success if they switch to e-cigarettes than if they use nicotine products like patches or gum, or just willpower, scientists said on Wednesday.

  • LONDON, May 20- Mining and commodity trading company Glencore Xstrata will appoint a female director to its board by the end of this year, chairman Tony Hayward said during the company's annual general meeting with shareholders.

  • May 20- Office supply retailer Staples Inc reported a 44 percent fall in quarterly profit, hurt by a stronger U.S. dollar and store closures. The company's net income fell to $96 million, or 15 cents per share, in the first quarter ended May 3 from $170 million, or 26 cents per share, a year earlier.

  • Home Depot's first-quarter sales rise 2.9 pct Tuesday, 20 May 2014 | 6:12 AM ET

    May 20- Home Depot Inc, the world's largest home improvement chain, reported a 2.9 percent rise in quarterly sales as its spring selling season got off to a slow start. Home Depot's net income rose to $1.38 billion, or $1.00 per share, in the first quarter ended May 4 from $1.23 billion, or 83 cents per share, a year earlier.