Latest Business News Wires - Business Headlines


  • Daniel Loeb's Third Point added 1 million shares of Dollar General, raising his stake by 33 percent, while Blue Ridge Capital, founded by Tiger Cub John Griffin, nearly doubled its stake in Walgreen when it bought 2.8 million shares.

  • YOUR MONEY-Smart ways to save on college textbooks Thursday, 14 Aug 2014 | 2:21 PM ET

    Aug 14- With the cost of college textbooks surpassing $1,000 a year for many students, soon-to-be sophomore Matt Schroeder came up with a smart way to trim costs. "My calculus book that usually costs $180, I got for the semester for $10 and a Chick-fil-A biscuit," says Schroeder, 19, who attends Covenant College in Georgia.

  • SAO PAULO, Aug 14- State-run Caixa Econômica Federal SA won approval from Brazil's central bank to book 28 billion reais in hybrid securities as common equity, a move that should help allay capital concerns at the nation's No. 1 mortgage lender. Reuters reported on July 22 that the central bank was close to approving the plan.


  • Argentina debt talks collapsed over price, guarantees Thursday, 14 Aug 2014 | 2:08 PM ET

    International banks had appeared to be nearing agreement to buy Argentina paper from holdout creditors who have refused to accept a debt restructuring deal with the sovereign.

  • Aug 14- An Indianapolis church has alleged that JPMorgan Chase& Co mismanaged trust accounts held for its benefit by investing in high cost, risky investments that advanced the firms' interests over its own, according to a lawsuit filed in Indianapolis federal court late on Wednesday.

  • SAO PAULO, Aug 14- State-run Caixa Econômica Federal SA won approval from Brazil's central bank to book 28 billion reais in hybrid securities as common equity, a move that should help allay capital concerns at the nation's No. 1 mortgage lender.

  • Aug 14- A bond insurance company fired back at Detroit's attempt to invalidate $1.45 billion of pension debt, claiming in a court filing late Wednesday that it was "fraudulently" led to guarantee payments on the debt.

  • *Sugar traders shrug off Brazil harvest slowdown. NEW YORK/ LONDON, Aug 14- ICE raw sugar futures dropped to a six-month low on Thursday as global oversupply and heavy stocks offset a slowdown in the pace of harvesting in top producer Brazil. "Supplies are good, and physical demand is very slack," said Sterling Smith, a futures specialist with Citigroup in Chicago.

  • NEW YORK, Aug 14- U.S. crude prices fell more than $1 a barrel on Thursday and retreated more than 50 cents in a minute as shares of the exchange-traded U.S. Oil Fund saw high-volume trading. U.S. crude fell about 60 cents to a then session low of $96.03 between 10:50 and 10:51 a.m. EDT. By 1:09 p.m. EDT, it was down $1.54 at $96.05 a barrel, having fallen to $95.89 earlier.

  • *Merger to create Fiat Chrysler Automobiles. MILAN, Aug 14- Sergio Marchionne has shown he is determined to let nothing stand in the way of Fiat's merger with Chrysler, but a share price slide may yet force the CEO to hit the brakes on plans to turn the world's No. 7 carmaker into a top player.

  • *China property sector slowdown, selling in US oil ETF pressure. NEW YORK, Aug 14- Crude oil prices slumped about 2 percent Thursday, pressured by weak European data and selling in an U.S. exchange-traded oil fund, and joined by a slump in metals prices which helped push a key commodities index to a six-month low.

  • NEW YORK, Aug 14- A federal judge rejected billionaire investor Steven A. Cohen's bid to dismiss lawsuits by Elan Corp and Wyeth shareholders who claimed they lost money because his firm SAC Capital Advisors LP conducted insider trading in the drugmakers' stocks.

  • NEW YORK/ LONDON, Aug 14- Gold prices were little changed on Thursday as investors shrugged off a bigger-than-expected rise in U.S. jobless claims, while conciliatory comments from Russian President Vladimir Putin eased jitters about the Ukraine crisis that had prompted some safe-haven buying of bullion.

  • LONDON, Aug 14- Asda, the British arm of the world's biggest retailer Wal-Mart, reported an acceleration in quarterly sales growth and hailed the improvement as proof that its price-cutting strategy is working.

  • Aug 14- Network equipment maker Cisco Systems Inc said on Thursday its plan to slash 6,000 jobs will result in restructuring charges of $700 million in cash in the year ending July 2015. Shares in Cisco, still the world's largest networking equipment maker, were down 2.7 percent at $24.52 on the Nasdaq.

  • Berlin bans car service Uber Thursday, 14 Aug 2014 | 12:22 PM ET

    Aug 14- Berlin has banned car service Uber, which allows users to summon a ride on their smartphone, for not offering drivers and vehicles licensed to carry passengers, or full insurance cover, the German capital said.

  • SAO PAULO, Aug 14- The late entry of environmentalist Marina Silva into Brazil's presidential race following the death of her running mate could rally young voters and those upset over a sluggish economy and corruption, but introduce new uncertainty for investors wary of her record of unpredictable decisions.


  • UPDATE 1-EU seeks to take sting out of Russia food ban Thursday, 14 Aug 2014 | 11:46 AM ET

    BRUSSELS, Aug 14- The European Commission will announce more help for EU fruit and vegetable producers early next week to try to stave off a price collapse after Russia's ban on most Western food imports.