Latest Business News Wires - Business Headlines


  • DUBAI/ KHOBAR, Oct 1- Saudi Aramco sharply cut official oil prices for Asian customers in November, the state-run company said on Wednesday in the clearest sign yet the world's largest exporter is trying to compete for crude market share.

  • *Weak Asia, Europe data adds bid for German, U.S. debt. NEW YORK, Oct 1- U.S. Treasuries prices rose on Wednesday after U.S. manufacturing growth unexpectedly slowed, adding to earlier gains seen after worsening factory activity in Europe and Asia increased concerns about faltering global growth.

  • DETROIT, Oct 1- Detroit needs to eradicate blighted properties and keep its art collection in order to thrive once it exits bankruptcy, a billionaire business leader told the city's bankruptcy trial on Wednesday. Blight grows, " Dan Gilbert, founder of Detroit- based mortgage lender Quicken Loans, said after taking the stand in the historic bankruptcy case.

  • Vivint, which is controlled by Blackstone Group LP, and SolarCity allow homeowners to lease solar systems rather than buying them outright, helping fuel the growth. SolarCity controls more than a third of the U.S. residential solar market, with Vivint trailing with a 15 percent share.

  • FRANKFURT, Oct 1- Rocket Internet, the global e-commerce investor, is selling its shares at 42.50 euros apiece, or the top of the price range, as investors flock to tap into a new wave of Internet start-up listings.

  • MILAN, Oct 1- Italian prosecutors investigating state-backed firm Eni SpA over the purchase of a Nigerian oil field three years ago allege that at least half of the $1.1 billion paid was used to bribe local politicians, intermediaries and others, according to official documents and a person close to the investigation.

  • The FCC is planning a so-called incentive auction for mid-2015, a complex sale of highly valuable low-frequency radio airwaves currently used by broadcasters to clamoring wireless carriers.

  • NEW YORK, Oct 1- Stock markets worldwide launched the fourth quarter on a negative note on Wednesday, as tepid manufacturing data weighed on European markets and the first confirmed case of Ebola in the United States added to growing volatility in U.S. equities.

  • The patient, now hospitalized in Dallas, had flown from Ebola-ravaged Liberia through Brussels to Texas, the Liberian information ministry said. JetBlue Airways and American Airlines said they were closely following guidelines from the U.S. Centers for Disease Control and Prevention.

  • MOMBASA, Kenya, Oct 1- Proposals by a local authority to impose new taxes on cargo at Kenya's main port has drawn opposition from the government and shippers, saying it will hike import prices and make the east African trade hub less competitive.

  • LONDON, Oct 1- The Bank of England must keep a close eye out for any signs that sterling's recent strength has masked underlying inflation pressures in Britain, one of the central bank's newest policymakers said on Wednesday.

  • *Factory gauge slips in September as orders growth softens. WASHINGTON, Oct 1- Growth in U.S. factory activity slowed more than expected in September even as hiring in the private sector accelerated, signs of an uneven expansion in the U.S. economy.

  • FRANKFURT, Oct 1- ARM Holdings Plc said on Wednesday it was introducing software to make the proliferating number of Internet-connected devices many consumers surround themselves with more manageable and secure.

  • Oct 1- Coca-Cola Co, facing criticism from Warren Buffett and other investors for its outsized employee share rewards, said it had adopted new guidelines that would limit its stock compensation plan and improve transparency.

  • OSLO, Oct 1- A temperature goal set by almost 200 governments as the limit for global warming is a poor guide to the planet's health and should be ditched, a study published in the journal Nature said on Wednesday.

  • BOSTON, Oct 1- Vanguard Group's global bond chief said Wednesday the company has tightened controls at some of its long-term bond funds to screen out "hot money" amid heavy cash outflows from rival Pacific Investment Management Co..

  • LONDON, Oct 1- The European Bank for Reconstruction and Development is launching its first strategic plan for Jordan focusing on energy and infrastructure and boosting the economic clout of the private sector.

  • NEW YORK, Oct 1- Brent oil bounced off a two-year low and headed toward $96 a barrel on Wednesday and U.S. crude also rose as crude stockpiles fell unexpectedly and Chinese factory data offered signs of hope for the slowing economy.

  • Oct 1- Shares of government-controlled Fannie Mae and Freddie Mac plummeted on Wednesday, the day after a judge upheld the U.S. The dismissal of the lawsuit dealt a blow to investors hoping to benefit now that Fannie Mae and Freddie Mac, the two largest sources of U.S. housing finance, are profitable.