Latest Business News Wires - Business Headlines


  • CARACAS, Feb 11- Venezuelan President Nicolas Maduro on Tuesday said his government in the coming hours would reform currency exchange regulations to allow for a new foreign exchange platform under the OPEC nation's currency controls.

  • Feb 11- Fiscal policy and a "feckless" federal government are dragging on U.S. economic growth, a top Federal Reserve official said on Tuesday.


  • NYMEX-U.S. crude oil futures rise on stock data Tuesday, 11 Feb 2014 | 7:56 PM ET

    SINGAPORE Feb 12- U.S. crude oil futures climbed above $100 per barrel on Wednesday, buoyed by data from the American Petroleum Institute that showed crude stocks fell by 2.5 million barrels at a key U.S. delivery hub. The U.S. Energy Information Administration will release its weekly inventory report later today.

  • CARACAS, Feb 11- Venezuelan President Nicolas Maduro on Tuesday said his government in coming hours would reform currency exchange regulations to allow for a new foreign exchange platform under the OPEC nation's currency controls. The new system would complement the foreign exchange auction system known as Sicad, Maduro said.

  • NEW YORK, Feb 11- Mexico and China are discussing creating a joint fund for investments in infrastructure projects in Latin America's No.2 economy, Mexican deputy finance minister Fernando Aportela said on Tuesday during a visit to New York.

  • Feb 11- The Obama administration may have pushed the bounds of its legal authority by delaying the healthcare law requirement that certain employers provide coverage to full-time workers, but the move will be tough to challenge in court, according to legal experts.

  • PITTSBURGH, Feb 11- One person was injured and another was missing after an explosion on Tuesday at a natural gas well owned by Chevron Corp in southwestern Pennsylvania, a company spokesman said.


  • MEXICO CITY, Feb 11 (Reuters)- America Movil, Latin America's biggest phone company controlled by billionaire businessman Carlos Slim, on Tuesday reported a better-than-expected quarterly profit, helped by a drop in taxes and a slight pick-up in revenue.

  • SINGAPORE, Feb 12- Gold gave back some of its sharp overnight gains on Wednesday as stocks rallied but was still trading near its highest in three months on assurances from the new Federal Reserve chair that there would be no abrupt changes to U.S. monetary policy. *Spot gold fell 0.5 percent to $1,285.50 an ounce by 0024 GMT, snapping a three-day winning streak.

  • LIMA, Feb 11- A crackdown on illegally mined gold in Peru has nearly frozen shipments from shell companies and will likely cut overall exports of the precious metal by 25 percent this year, officials said on Tuesday. Peru is the world's sixth biggest gold exporter, producing around 140 million grams of gold last year.

  • Feb 11- North Carolina has asked a state judge to put a controversial settlement deal with U.S. power company Duke Energy over pollution on hold after a massive coal ash spill into a local river raised fresh concerns about water safety.

  • PANAMA CITY, Feb 11- The Panama Canal's administrator said on Tuesday it was holding ongoing talks with a building consortium led by Spain's Sacyr aimed at jumpstarting a stalled project to expand the waterway, which ran aground amid a dispute over massive cost overruns.

  • Japan Dec core machinery orders drop 15.7 pct mth/mth Tuesday, 11 Feb 2014 | 6:55 PM ET

    TOKYO, Feb 12- Japan's core machinery orders fell 15.7 percent in December, dropping for the first time in three months after a hefty gain in the previous month, government data showed on Wednesday.

  • Feb 11- Western Union Co said it expects the high compliance costs that hit its earnings in the fourth quarter to ease in 2014, helping to push up the company's shares after the bell. Western Union said in October that it did not expect earnings growth in 2014 due to higher compliance costs, which it pegged at 3.5-4.5 percent of revenue.

  • Feb 11- Network security company FireEye Inc forecast current-quarter revenue below analysts' average expectation and warned that development costs would rise sharply, sending its shares down nearly 8 percent in after-hours trading.

  • Cliffs, a Cleveland- headquartered iron ore and coal producer, said it plans to reduce its capital spending in 2014 by more than 50 percent to between $375 million and $425 million as it cuts back its Bloom Lake Mine expansion and idles production at its Wabush Mine.

  • NEW YORK, Feb 11- The Pimco Total Return Fund, the world's largest bond fund, increased its holdings of U.S. government-related securities in January to notch a modest gain for the month after Treasuries prices rose, data from the firm's website showed on Tuesday.

  • WASHINGTON/ NEW YORK, Feb 11- New York's financial regulator on Tuesday revealed new details on how the state plans to govern virtual currencies such as bitcoin, just as problems in the nascent market took a turn for the worse.