Latest Business News Wires - Business Headlines


  • NEW YORK, Sept 30- World oil prices tumbled to their lowest in more than two years on Tuesday, with U.S. crude posting its biggest daily decline since 2012, as a drop in gasoline prices and end-of-quarter selling capped three months of steep losses.

  • FACTBOX-Biggest global spinoffs since 2008 Tuesday, 30 Sep 2014 | 3:39 PM ET

    Sept 30- Ebay Inc said it plans to spin off PayPal, its lucrative payments business, as a publicly traded company in the second half of 2015. Paypal contributes a little over 40 percent to eBay's revenue and is growing at a faster pace, compared with the company's marketplaces and enterprise businesses.

  • *Gold notches 6 pct drop in Sept, biggest in 15 months. *Unrest in Hong Kong could hit physical demand from China. NEW YORK/ LONDON, Sept 30- Gold fell to a nine-month low on Tuesday as the dollar surged and commodities led by crude oil tumbled on expectations of further gains in the U.S. currency.

  • NEW YORK, Sept 30- The dollar climbed on Tuesday after weak euro zone inflation data for September increased expectations of new stimulus from the European Central Bank, while world stock markets were on track for their largest quarterly drop in more than two years.

  • WASHINGTON, Sept 30- A federal judge in Oklahoma ruled on Tuesday that tax subsidies vital to the implementation of President Barack Obama's signature healthcare law are unlawful, giving a boost to opponents of the measure known as Obamacare.

  • NEW YORK, Sept 30- Pimco intends to expand its equities business and there will be no difference in the firm's portfolio management following the departure of former Chief Investment Officer Bill Gross, two top Pimco executives said on Tuesday.

  • Kendall is the top U.S. official working on the joint Defense Trade and Technology Initiative with India that has identified 17 specific defense projects.

  • WASHINGTON, Sept 30- The U.S. Insurers American International Group and Prudential Financial have already received this designation, and regulators are considering applying it to MetLife too.

  • Oklahoma judge rules against Obamacare tax subsidies Tuesday, 30 Sep 2014 | 2:57 PM ET

    WASHINGTON, Sept 30- A federal judge in Oklahoma ruled on Tuesday that tax subsidies vital to the implementation of President Barack Obama's signature healthcare law are unlawful, giving a boost to opponents of the measure known as Obamacare.

  • Sept 30- EBay Inc agreed on Tuesday to spin off its payments unit, PayPal, in the second half of 2015, after rebuffing activist investor Carl Icahn's proposal in January. Following are comments by eBay Chief Executive John Donahoe on PayPal spinoff since then:.

  • WASHINGTON, Sept 30- The United States is keen to include investor protection in a trade pact being negotiated with the European Union and will work with EU officials to find the right balance, a senior U.S. trade official said on Tuesday.

  • The SEC could also conduct its own investor testing to help develop the most useful disclosure forms, he added. Tuesday marked the first time that Piwowar, who joined the SEC in 2013, has delved so deeply into the contentious debate over how to address the disjointed rules governing retail brokers and advisers.

  • DETROIT, Sept 30- Detroit should be able to access capital markets and borrow at a rate of around 5 percent after it exits bankruptcy, as long as its tax revenue remains stable, a city consultant said on Tuesday.

  • WASHINGTON, Sept 30- The U.S. Federal Communications Commission is considering a change in how it regulates Internet TV, potentially putting it on the same footing as traditional cable and satellite television, an FCC official familiar with the idea said on Tuesday.

  • Sept 30- Johnson& Johnson agreed to pay $1.75 billion in cash to buy privately held Alios BioPharma Inc, which is developing a drug for a common respiratory viral infection in children for which there is no approved treatment.

  • LIMA, Sept 30- Maple Energy Plc dropped 30.53 percent on Tuesday in Lima following its announcement that talks about possibly selling the company ended without a deal.

  • WASHINGTON, Sept 30- Four members of an alleged computer hacking ring were charged with stealing more than $100 million worth of software and data- used to train military pilots and related to Microsoft Corp's Xbox gaming console- the U.S. Justice Department said Tuesday.

  • WASHINGTON, Sept 30- Joining a cry from law enforcement officials concerned about data encryption on Apple's newest operating system, U.S. Apple's new iPhone 6, released this month, and Google's coming update of the Android smartphone have data encryption so sophisticated that only the user may unlock it.

  • Obama's BRAIN initiative awards $46 million in grants Tuesday, 30 Sep 2014 | 1:57 PM ET

    CHICAGO, Sept 30- Wearable brain scanners and lasers that can turn hundreds of cells on and off were among 58 projects awarded $46 million in federal grants as part of President Obama' s $100 million initiative to unlock the secrets of the human brain.

  • Sept 30- An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.