Latest Business News Wires - Business Headlines


  • NEW YORK/ WASHINGTON, April 24- The Senate Banking Committee will vote next week on three nominees to the Federal Reserve's board, including Stanley Fischer for vice chairman, in a big step toward bulking up the U.S. central bank's depleted ranks. Treasury official Lael Brainard and current Fed Governor Jerome Powell, who has been nominated for another term.

  • SASKATOON, Saskatchewan, April 24- Bank of Canada Governor Stephen Poloz is more hopeful than before about an export recovery but is not straying from his mantra that an interest rate cut is just as possible as a hike because the economic outlook is so uncertain.


  • WASHINGTON, April 24- In an unusual move, three top officials with the U.S. Federal Trade Commission on Thursday voiced their opposition to laws that ban automakers such as Tesla Motors Inc from selling their cars directly to consumers. Such laws are currently in place in Arizona, Maryland, New Jersey, Texas and Virginia.

  • April 24- Cliffs Natural Resources Inc, which is facing off against an activist investor that wants to break up the company, posted a first-quarter loss on Thursday on the back of lower market prices for iron ore and metallurgical coal.

  • SAN FRANCISCO, April 24- Broadcom Corp beat Wall Street expectations in the first quarter, although profit and revenue were lower than a year earlier as the company's high-end chips for smartphones faced fierce competition in China. Underscoring those concerns, Broadcom's revenue guidance for the June quarter was slightly below some analyst expectations.

  • *Second-quarter adjusted profit $2.20/ Class A share vs est. April 24- Visa Inc, the world's largest credit and debit card company, said its revenue growth would slow this quarter due to a strong U.S. dollar, sending the company's shares down about 3 percent in extended trading.

  • UPDATE 2-Microsoft beats Wall Street on new CEO debut Thursday, 24 Apr 2014 | 5:36 PM ET

    SEATTLE, April 24- Microsoft Corp's new chief executive got off to a winning start with Wall Street on Thursday as the world's largest software company eased past analysts' profit estimates despite the pressure of falling computer sales.

  • SANTIAGO, April 24- A stalemate between the United States and Japan on farm and auto markets in Pacific trade talks is locking all the participants in a "waiting game," Chile's head of international economic relations said on Thursday.

  • April 24- Wall Street's self-funded regulator said brokerage firms would have to conduct their own background checks on new recruits after critics pointed to gaps in disclosures by some brokers with checkered histories.

  • NEW YORK, April 24- Dollar Tree Inc and Dillard's Inc have agreed to boost oversight to ensure worker safety at their suppliers' factories, and as a result the overseer of New York state's public pension fund said he has withdrawn shareholder proposals on the issue.

  • Florida part of multi-state group probing GM Thursday, 24 Apr 2014 | 5:23 PM ET

    WASHINGTON, April 24- The Florida attorney general's office said on Thursday it was part of a multi-state group forming to look into complaints about General Motors, which has recalled 2.6 million cars for a faulty part blamed for at least 13 deaths.

  • WASHINGTON, April 24- While energy reforms have opened the door for Mexico's state-run energy company to expand overseas, its focus for now will be on developing its "low-hanging fruit," the head of Pemex said on Thursday.

  • April 24- Chinese Internet company Baidu Inc forecast better-than-expected revenue for the second quarter, sending shares up 5 percent in after-hours trading. Baidu said revenue in the second quarter will range between 11.820 billion yuan and 12.110 billion yuan.


  • BOSTON, April 24- Two prominent proxy advisory firms on Thursday split their recommendations on how investors should vote in a battle between auction house Sotheby's and activist investor Daniel Loeb.

  • BOSTON, April 24- Activist investor William Ackman, who is betting more than $1 billion that Herbalife is a pyramid scheme, will cover legal fees and damages for whistleblowers who have spoken out against the company, but not lost wages if they lose their jobs.

  • *29- year KPMG veteran sentenced in Los Angeles. April 24- Former KPMG LLP senior partner Scott London, who had provided tips to a friend about the accounting firm's clients, was sentenced to 14 months in prison on an insider trading charge by a federal judge in Los Angeles on Thursday.

  • Pandora's rise in ad revenue helps beat expectations Thursday, 24 Apr 2014 | 5:03 PM ET

    April 24- Pandora Media Inc reported a better-than-expected rise in first quarter revenue on Thursday because advertisers picked up spending on the online streaming music service. Total revenue rose almost 70 percent to $194.3 million, beating analysts expectations of $175 million, according to Thomson Reuters I/B/E/S.

  • UPS ratifies new five-year labor agreement Thursday, 24 Apr 2014 | 5:02 PM ET

    April 24- United Parcel Service Inc, the world's biggest courier company, said on Thursday it ratified a five-year contract with higher wages and benefits for 125,000 unionized employees represented by the International Brotherhood of Teamsters.