Latest Business News Wires - Business Headlines


  • SAN FRANCISCO, Aug 13- Amazon.com Inc unveiled a $10 credit-card reader and mobile app for businesses on Wednesday, expanding further into bricks-and-mortar retail and the rapidly evolving mobile payments arena. The new point-of-sale system, called Amazon Local Register, would give Amazon crucial data on how U.S. consumers shop offline, analysts say.

  • NEW YORK, Aug 13- Brent crude oil rose in choppy trading on Wednesday, recovering from a 13- month low as turmoil in Iraq and Libya kept concerns about potential supply disruptions in focus. The U.S. crude oil stocks build included a 418,000- barrel increase at Cushing, Oklahoma, delivery point for the U.S. crude contract traded on the New York Mercantile Exchange.

  • Aug 13- BioCryst Pharmaceuticals Inc said the U.S. government exercised options to test the company's antiviral drug in humans and non-primates as a treatment for hemorrhagic fever viruses such as Ebola.

  • Aug 13- SeaWorld Entertainment Inc's shares lost nearly a third of their value on Wednesday after the theme park operator slashed its full-year revenue and adjusted EBITDA forecast. SeaWorld said it expects adjusted EBITDA to fall 14-16 percent from previous forecast of $450- $465 million.

  • METALS-Copper slumps to 7-week low on China demand fears Wednesday, 13 Aug 2014 | 12:13 PM ET

    *Nickel prices could hit $25,000 by mid/late 2015- BNP Paribas. LONDON, Aug 13- Copper fell to a seven-week low on Wednesday, dragged down by disappointing data on top consumer China's property sector, which raised concerns about the outlook for the metal used in power and construction.

  • Aug 13- Health Care REIT Inc said it would buy Canada's HealthLease Properties Real Estate Investment Trust in a deal valued at $950 million, including debt, to expand its presence in senior housing and post-acute care segments. In June, Health Care's rival Ventas Inc said it would buy American Realty Capital Healthcare Trust Inc for about $2.6 billion.

  • *Iraq faces no immediate food shortages, bread prices stable. BAGHDAD/ ABU DHABI, Aug 13- After seizing five oil fields and Iraq's biggest dam, Sunni militants bent on creating an Islamic empire in the Middle East now control yet another powerful economic weapon- wheat supplies.

  • Judge cuts back Madoff trustee lawsuit vs Merkin Wednesday, 13 Aug 2014 | 11:32 AM ET

    NEW YORK, Aug 13- The trustee seeking money for Bernard Madoff's victims suffered his second loss in less than a week to Wall Street hedge fund manager J. Ezra Merkin, as a Manhattan bankruptcy judge dismissed most claims in a roughly $565 million lawsuit.

  • *Soy market digests higher-than-expected USDA stocks view. *Hesitant corn market shrugs off below-consensus USDA yield. On Tuesday, the USDA pegged the U.S. corn harvest at a record 14.032 billion bushels, below analysts' estimates of 14.253 billion, and 2014/ 15 ending stocks at 1.808 billion bushels, below expectations of 2.005 billion.

  • U.S. District Court Judge Thomas Griesa, who has presided over the long-running legal battle, said in New York on Friday he would issue a contempt order unless Argentina stopped claiming it had met its obligations and was not in default.

  • NEW YORK, Aug 13- A global gauge of stock markets rose on Wednesday as investors were cautiously optimistic about de-escalation of conflicts in Ukraine and Iraq, but copper, a barometer for global economic growth, fell more than 1 percent to a seven-week low.

  • Aug 13- Canadian Solar Inc said it expected its more profitable business of building solar power plants to help blunt the impact of a fall in margins in the United States due to the imposition of duties on solar products made in China and Taiwan.

  • DETROIT, Aug 13- General Motors Co will start construction this fall on a $174 million stamping plant in Lansing, Michigan, that will make components for the nearby Lansing Grand River assembly plant, the company said on Wednesday. The ATS and CTS are built at the Lansing Grand River assembly plant.

  • BEIJING, Aug 13- Tencent Holdings Ltd, China's biggest listed tech firm, posted its second quarter of year-on-year profit gain of more than 50 percent as smartphone gaming revenue continued to grow at a breakneck pace. Net income rose 59 percent to 5.84 billion yuan in the three months to end-June compared with a year earlier, Tencent said on Wednesday.

  • BEIJING, Aug 13- A Chinese academic who sat on a government anti-monopoly advisory committee has been sacked, official news agency Xinhua reported on Wednesday, saying he had taken payments from U.S. chipmaker Qualcomm Inc..

  • Gains at E.ON and Swiss Life steady European equities Wednesday, 13 Aug 2014 | 10:53 AM ET

    *Nagging worries over Ukraine crisis limit gains. LONDON, Aug 13- European stock markets were steady on Wednesday, supported by gains in the shares of utility E.ON and reinsurer Swiss Life after forecast-beating results.

  • UPDATE 2-Rigel eye drug fails mid-stage study, shares fall Wednesday, 13 Aug 2014 | 10:48 AM ET

    Aug 13- Rigel Pharmaceuticals Inc said it would stop testing its drug for some patients with dry eye disease after the treatment failed a mid-stage study. British drugmaker AstraZeneca Plc scrapped its licensing deal for Rigel's rheumatoid arthritis treatment in June 2013.

  • US STOCKS-Wall St edges up, Dow again positive for 2014 Wednesday, 13 Aug 2014 | 10:47 AM ET

    *Amazon introduces card device, shares rally. NEW YORK, Aug 13- U.S. stocks rose on Wednesday, with the Dow turning positive for the year as investors sought bargains amid signs of easing tensions in Ukraine and Iraq, which overshadowed some weak reads on the retail sector.

  • LONDON, Aug 13- Brent crude oil bounced off a 13- month low on Wednesday, paring early losses to trade near $103 a barrel as traders with one eye on potential supply disruptions in Iraq started buying. Brent for September delivery was down 7 cents at $102.95 a barrel by 1442 GMT. The Brent contract for October delivery was down 6 cents at $103.83 per barrel.

  • PRECIOUS-Gold prices rise after U.S. retail sales data Wednesday, 13 Aug 2014 | 10:37 AM ET

    *Gold- backed funds see inflows but physical demand weak. LONDON, Aug 13- Gold rose on Wednesday after soft retail sales implied some loss of momentum in the U.S. economy, putting pressure on the dollar and curbing speculation that the Federal Reserve may raise interest rates sooner than expected.