Latest Business News Wires - Business Headlines


  • LONDON, May 2- British house prices have risen by about 10 percent over the past year and in London, gains are about double that rate. Top Bank of England officials have sounded more worried about the prospect of a new bubble in recent days, raising the possibility of new measures when the Bank's Financial Policy Committee meets next month.

  • LONDON, May 2- The Bank of England's starkest warning so far about Britain's booming house prices is likely to be followed by cautious measures, possibly as soon as next month, as policymakers test out their new powers.

  • Rush to list stocks stirs memories of tech bubble Friday, 2 May 2014 | 10:47 AM ET

    *Big inflows fail to rouse equity markets; IPOs absorb cash. LONDON, May 2- Firms are queuing up to list on equity indexes, sucking cash from existing listed stocks and fuelling worries that these high flotation volumes could be signalling an impending market fall.

  • *New 5- year plan to be presented in Detroit on May 6. MILAN, May 2- Newly-merged Fiat Chrysler will unveil its long-awaited five-year plan on Tuesday, with chief executive Sergio Marchionne under pressure to show he can translate years of canny dealmaking into a thriving global autos business.

  • TORONTO, May 2- News Corp said on Friday it would buy romance novel publisher Harlequin Enterprises Ltd from Canadian newspaper company Torstar Corp for C $455 million in cash in a move to boost its non-English book publishing.

  • *Astrazeneca rejects Pfizer's raised bid of $106 bln. The payrolls gain of 288,000 was the largest since January 2012 and beat Wall Street's expectations for an increase of just 210,000..

  • May 2- Aircraft components maker Spirit AeroSystems Holdings Inc reported quarterly results way above analysts' estimates as its customers, Boeing Co and Airbus Group NV, boosted production to meet surging demand for large planes. Shares of Spirit Aero, spun off from Boeing in 2005, rose as much as 6 percent on Friday morning.

  • Google faces lawsuit on mobile internet search Friday, 2 May 2014 | 10:20 AM ET

    A consumer rights law firm said it filed a lawsuit against Google alleging the company "illegally monopolized" the Internet and mobile search market.

  • *Fighting in Ukraine escalates, Putin says peace plan over. The West has threatened more sanctions against Russia, which it believes is helping separatist groups in Ukraine. Russia's energy minister said natural gas exporter Gazprom would reduce supplies to Ukraine in June if no prepayment is received this month.

  • Ares' shares fell to a low of $18 in early trading on the New York Stock Exchange after being priced at $19, well below the expected range of $21- 23, in a turbulent IPO market. At the low, the company was valued at $3.8 billion and co-founder Tony Ressler's stake at about $1.16 billion.

  • FOREX-Dollar jumps on strong U.S. jobs report Friday, 2 May 2014 | 10:05 AM ET

    NEW YORK, May 2- The dollar shot up on Friday, rising against the yen, euro and other major currencies on buying driven by surprisingly strong hiring in April that took America's unemployment rate to a 5-1/ 2- year low.

  • U.S. factory orders up, durable goods revised higher Friday, 2 May 2014 | 10:00 AM ET

    WASHINGTON, May 2- New orders for U.S. factory goods rose for a second straight month in March, suggesting strength in manufacturing and the broader economy at the end of the first quarter. The Commerce Department said on Friday new orders for manufactured goods increased 1.1 percent.

  • LONDON, May 2- Investors dipping their toes back into emerging markets are choosing hard currency debt which, thanks to rich yields and expectations for a stronger dollar, is the developing world's best performing asset class this year.

  • NEW YORK, May 2- U.S. The headline jobs figure handily beat Wall Street's expectations for an increase of just 210,000.. "The market perceives the unemployment numbers as good on quantity, but bad on quality," said Guy Lebas, chief fixed income strategist, at Janney Montgomery Scott in Philadelphia.

  • May 2- LinkedIn Corp forecast 2014 revenue below Wall Street's expectations, prompting concerns of turning into another social network unable to sustain its rapid growth pace and leading a host of brokerages to cut their price targets on the stock.

  • May 2- TransCanada Corp, Canada's No.2 pipeline company and the backer of the Keystone XL pipeline, reported a 14 percent rise in adjusted quarterly profit as a severe winter boosted demand for its pipelines.

  • *William Hill, Ladbrokes shares dropped in past 12 months. According to Markit data, interest from short sellers in several British betting firms has risen over the past two months, with Ladbrokes shares on loan climbing to more than 6 percent of the total available, from 4.7 percent, while William Hill's shares on loan have risen to 2.6 percent from 0.3 percent.

  • NEW YORK, May 2- U.S. stocks opened mostly flat on Friday following a payroll report that was much better than expected. While the report was an encouraging read on the labor market, investors said Wall Street's gains over the week made further advances unlikely. The Nasdaq Composite Index was up 9.16 points, or 0.22 percent, at 4,136.62.

  • May 2- Estee Lauder Cos Inc, known for its Clinique and MAC brands, raised its earnings forecast for the full year, driven by the launch of new skin care and makeup products. Estee Lauder said it expects global prestige beauty, to which the company belongs, to grow about 3 to 4 percent in 2014..

  • NAIROBI, May 2- Kenya on Friday launched a single electronic system for processing imports and exports, to simplify red tape blamed for holding up trade in the trading hub of the region.