Latest Business News Wires - Business Headlines


  • SEC charges bitcoin entrepreneur over securities sales Tuesday, 3 Jun 2014 | 11:13 AM ET

    June 3- The co-owner of two bitcoin-related websites has agreed to pay nearly $51,000 to settle U.S. Securities and Exchange Commission charges he publicly offered shares in the two ventures without registering them, the regulator said on Tuesday.

  • *Could help to shield Yandex if Western sanctions tighten. MOSCOW, June 3- Shares in Russian internet search engine Yandex will begin trading in Moscow on Wednesday in a move that will please the Kremlin and could shield the Nasdaq-listed company from any tightening of Ukraine- related sanctions against Russia.

  • Sanofi boss Viehbacher moves residence to U.S. Tuesday, 3 Jun 2014 | 11:06 AM ET

    PARIS, June 3- Chris Viehbacher, the German-Canadian chief executive of French drugs firm Sanofi, is moving his personal residence from France to the United States for family reasons, a company spokesman said on Tuesday.

  • Stocks on Wall Street were lower, following declines across Europe, but emerging market stocks rose, lifted in part by rising Brazilian and Mexican shares. MSCI's all-country world index of equity performance in 45 countries, fell 0.03 percent, while the pan-European FTSE Eurofirst 300 index of regional shares fell 0.4 percent to 1,374.98.

  • ANKARA, June 3- Turkish Prime Minister Tayyip Erdogan said on Tuesday he hoped the central bank would cut interest rates further, criticising its stance and raising further concerns about political interference in monetary policy.

  • NEW YORK, June 3- Activist investor Carl Icahn acquired 6.8 million common shares of Fannie Mae and 5.7 million common shares of Freddie Mac from Fairholme Funds, a court filing showed Tuesday. As of March 31, Fairholme owned a 1.65 percent stake in Fannie Mae and a 2.64 percent stake in Freddie Mac, according to Thomson Reuters data.

  • LONDON, June 3- Gold fell to a four-month low on Tuesday, on course for a six-day losing streak after upbeat U.S. data kept the dollar close to a multi-month high versus a basket of currencies, offsetting the positive impact on the metal of lower equities markets.

  • *TAP plans to bring Azeri Shah Deniz II gas to Italy and Turkey. BAKU, June 3- France's Total and Germany's E.ON plan to withdraw from a pipeline scheme to bring Azerbaijan's gas to Italy, an Azeri official said, as falling Italian demand puts energy projects there into doubt.

  • Moody's says Illinois may face structural deficit Tuesday, 3 Jun 2014 | 10:46 AM ET

    June 3- Moody's Investors Service said Illinois could face a structural deficit as the U.S. state failed to extend income tax rates that ended on Dec. 31. Moody's said the failure to extend the tax rates would reduce the state's revenue by an estimated $1.8 billion in the year starting July 1.

  • General Motors Co, Ford Motor Co and Chrysler Group beat analysts' expectations, as did Toyota Motor Corp and Nissan Motor Co. GM and Chrysler said May sales were the best for that month in seven years, and Nissan set a sales record for the month.

  • FRANKFURT, June 3- German drugmaker Bayer AG said on Tuesday its chief executive Marijn Dekkers is to step down at the end of 2016 for family reasons and the group's chief financial officer is moving over later this year to take charge of strategy to ensure continuity. Marijn Dekkers will be extended by just two years on expiration of the initial five-year period.

  • *Libya burning reserves due to oil export blockade. TRIPOLI, June 3- Libya's currency is under heavy pressure as a breakdown in security and a collapse of oil revenues due to port blockades have badly disrupted public finances and an economy already burdened by exploding state salary and subsidy bills.

  • *Factory orders rise 0.7 percent in April. WASHINGTON, June 3- New orders for U.S. factory goods rose for a third straight month in April, pointing to strength in manufacturing and the broader economy. The Commerce Department said on Tuesday new orders for manufactured goods increased 0.7 percent.

  • June 3- Prosensa Holding NV said the U.S. Food and Drug Administration had outlined an accelerated regulatory approval path for its most advanced drug, aimed at treating a muscle disorder. Prosensa said it would file for European approval in the near future.

  • Hiding money overseas is about to get even harder Tuesday, 3 Jun 2014 | 10:20 AM ET

    More than 77,000 foreign banks and financial institutions have agreed to share US tax information with the IRS.

  • *Dow, S&P 500 ended at records on Monday. NEW YORK, June 3- U.S. stocks edged lower in early trading on Tuesday, receding from record levels as traders found few reasons to buy following a string of gains. Slightly more than 60 percent of stocks traded on both the New York Stock Exchange and the Nasdaq fell on the day.



  • June 3- AT&T Inc raised its full-year revenue forecast for a second time, citing strong growth in its equipment installment plan even as its service revenue stagnated. Net subscriber additions to the company's wireless services are expected to exceed 800,000 in the second quarter, it said, well above Wall Street estimates of 525,000..

  • *Court says could make key broad ruling on June 16. BUDAPEST, June 3- Hungary's top court ruled on Tuesday that the exchange rate margin applied by OTP Bank on a foreign currency mortgage was unfair and invalid, a ruling that could guide government plans to tackle problem forex loans. The court said that ruling could be made on June 16.