Latest Business News Wires - Business Headlines


  • *Kuwait aims to have subsidies review ready this year. *Citizens ask why when Kuwait has so much oil revenue.

  • *Inland Diversified to get between 1.650 -1.707 Kite Realty shares. *Kite Realty to sell Inland's multi-family assets. Feb 10- Kite Realty Group Trust said it would buy Inland Diversified Real Estate Trust Inc for $1.2 billion in stock to boost its shopping center portfolio and help it enter new markets in the United States.

  • Feb 10- Billionaire activist investor Carl Icahn said he saw no reason to keep demanding that Apple Inc increase its stock buyback plans, citing the company's recent stock repurchases as well as an influential proxy adviser's call against his proposal. Apple shares were up 1.8 percent at $529.20 in morning trading.

  • NEW YORK, Feb 10- Global equity markets and the dollar traded little changed on Monday as investors awaited the first congressional testimony this week of the Federal Reserve's new chair after last week's weak January labor market report left investors skittish.

  • NEW YORK, Feb 10- Brent oil eased after hitting a five-week high on Monday pressured by increased supplies from Libya and the North Sea and as investors awaited direction from the new head of the U.S.

  • PREVIEW-Canada budget to favor restraint over stimulus Monday, 10 Feb 2014 | 11:29 AM ET

    Finance Minister Jim Flaherty is eager to eliminate the government's relatively small budget deficit and restore the reputation Canada had before the financial crisis as having the strongest fiscal record in the Group of Seven major economies.

  • NEW YORK, Feb 10- Basset hounds, German shepherds and poodles sporting crazy hairdos are prancing in front of pet lovers this week at the 138th Westminster Kennel Club Dog Show. Suzanne Dempsey, a doctor of veterinary medicine from the Center for Animal Referral and Emergency Services in Langhorne, Pennsylvania, has advice for would-be dog owners.

  • BERLIN, Feb 10- German tyre and car parts group Continental has bought U.S. private equity investor Carlyle Group's rubber and plastics division for about 1.4 billion euros, it said on Monday.

  • TORONTO, Feb 10- Hudson's Bay Co's chief financial officer resigned on Friday, and the Canadian retailer said it had hired an executive search firm to find a replacement.

  • TORONTO, Feb 10- Canadian base metal miner HudBay Minerals Inc said it plans to buy exploration company Augusta Resource Corp in a bid to gain control of its Rosemont project in Arizona, an asset widely viewed as one of the most promising copper projects in the United States.

  • SAO PAULO/ LONDON, Feb 10- Brazil's real weakened on Monday as traders corrected an overdone rally, while Hungary's forint dropped on concerns the central bank may cut interest rates further.

  • *FTSEurofirst 300 up 0.1 pct, Euro STOXX 50 flat. *Euro STOXX 50 halted by key resistance level. The euro zone's blue-chip Euro STOXX 50 index was flat, at 3,038.80 points, after failing to break above a key resistance level at 3,047.84 points representing its 50- day moving average, sending a bearish technical signal.

  • CORRECTED-Alibaba offers to take AutoNavi private Monday, 10 Feb 2014 | 10:50 AM ET

    Feb 10- Chinese digital mapping and navigation firm AutoNavi Holdings Ltd said it had received an offer to be taken private by major shareholder Alibaba Group Holding Ltd. Alibaba has offered to buy the 72 percent of AutoNavi that it does not already own for $21 per American depository share, valuing the company at $1.58 billion.

  • US STOCKS-Wall St little changed after two-day advance Monday, 10 Feb 2014 | 10:41 AM ET

    *Yelp climbs on deal with Yahoo. *Carl Icahn drops Apple buyback demand. NEW YORK, Feb 10- U.S. stocks were little changed on Monday, on the heels of the S&P 500' s best two-day performance in four months and ahead of new Federal Reserve Chair Janet Yellen's first testimony before lawmakers on Tuesday.

  • Markets are also awaiting the first testimony of Federal Reserve Chair Janet Yellen, who testifies in Congress on Tuesday and Thursday after a second month of weaker-than-expected U.S. jobs data. "A lot of the action is looking forward to supply over the next three days," said Guy LeBas, chief fixed income strategist, at Janney Montgomery Scott in Philadelphia.

  • *New Fed chief with dovish history to testify in Congress. Yellen, who is viewed as an architect of the U.S. central bank's current ultra-loose policy, will make her first appearance as Fed chair before Congress Tuesday and Thursday.

  • FRANKFURT, Feb 10- The European Central Bank's flagship crisis-fighting tool has been severely blunted by the assertion of Germany's top court that it exceeded the ECB's mandate, the head of the German ZEW think tank said.

  • NEW YORK, Feb 10- Puerto Rico took in revenue of $664 million last month, $1 million less than in January 2013, while sales tax collection hit a record high, preliminary data from the island's Treasury showed on Monday.

  • NEW YORK, Feb 10- Puerto Rico took in revenue of $664 million last month, $1 million less than in January 2013, while sales tax collection hit a record high, preliminary data from the island's Treasury showed on Monday. Unlike Puerto Rico's general obligation debt, the COFINA bonds still carry investment grade ratings.

  • Icahn drops Apple buyback demand Monday, 10 Feb 2014 | 10:03 AM ET

    Feb 10- Carl Icahn said he sees no reason to persist with his proposal that Apple Inc buy back $50 billion of its shares, given the recent share repurchases by the iPhone maker.