Latest Business News Wires - Business Headlines


  • April 22- Bank of New York Mellon Corp reported a first-quarter profit on Tuesday as rising markets drove up its assets under custody and administration. With its stock lagging that of rival State Street Corp in recent years, BNY Mellon has been under pressure to control costs.

  • U.S. existing home sales hit 1-1/2 year low in March Tuesday, 22 Apr 2014 | 10:00 AM ET

    WASHINGTON, April 22- U.S. home resales fell to their lowest level in more than 1-1/ 2 years in March, but there were signs a recent downward trend that has plagued the housing market may be drawing to an end. The National Association of Realtors said on Tuesday home sales slipped 0.2 percent to an annual rate of 4.59 million units, the lowest level since July 2012.

  • RIO DE JANEIRO, April 22- Brazil's financial markets have soared over the past month on hopes that the government may run smaller deficits, stop interfering as much in the private sector and perhaps even undertake long-needed reforms to revive the economy. But some of the most experienced Brazil- watchers on Wall Street are saying: Not so fast, guys.

  • April 22- McDonald's Corp posted a lower quarterly profit on Tuesday as high beef costs bit into margins and fewer customer visits resulted in a bigger-than-expected decline in sales at the fast-food chain's established U.S. restaurants.

  • April 22- Canada's Valeant Pharmaceuticals International Inc said on Tuesday it has partnered with activist investor Bill Ackman in an unsolicited $47 billion bid to buy Botox maker Allergan Inc in a move to eventually become one of the world's five biggest drug companies.

  • *Ukraine peace deal falters as rebels dig in. LONDON, April 22- Brent oil fell towards $109 a barrel and the U.S. benchmark saw a sharper decline on Tuesday on forecasts of rising crude stocks as a faltering pact to ease tensions in Ukraine offered some support.

  • NEW YORK, April 22- U.S. stocks edged up on Tuesday boosted by deals in the healthcare sector and upbeat results, while Facebook and Netflix lifted the Nasdaq.

  • Netflix price hikes seen boosting global expansion Tuesday, 22 Apr 2014 | 9:35 AM ET

    April 22- Netflix Inc's planned price hikes will allow it to spend more to produce more original content that will help it attract more customers globally, analysts said, as many of them raised their price targets on the stock.

  • MOSCOW, April 22- Renault has frozen plans to produce vans with Russian truck maker ZIL due to a weakening of the rouble, a spokeswoman for the French carmaker said on Tuesday. Last year ZIL signed a preliminary agreement to assemble Fiat and Renault vans at a Moscow factory, a source close to ZIL said at the time.

  • April 22- United Technologies Corp reported a higher-than-expected quarterly profit on Tuesday, helped by revenue growth across its aerospace and commercial building segments and strong sales in China.

  • *U.S. revenue rises 4 pct at Omnicom, 5 pct at Interpublic. *Interpublic revenue $1.64 bln vs est $1.60 bln. April 22- U.S. advertising companies Omnicom Group Inc and Interpublic Group of Cos reported better-than-expected revenue, mainly due to higher ad spending in their home market.

  • WASHINGTON, April 22- Lockheed Martin Corp, the Pentagon's largest supplier, on Tuesday reported a 23 percent jump in operating profit and earnings per share in the first quarter, and raised its earnings per share outlook for the full year by 25 cents.

  • *Travelers and United Tech profits top expectations. *Netflix Inc surged 7.8 percent to $375.74 in premarket trading a day after results showed strong subscriber growth, a sign that the trading favorite still had room to grow despite concerns over its elevated valuation.

  • *U.S. electric car firm says China may be biggest market next year. BEIJING, April 22- U.S. electric carmaker Tesla Motors Inc expects to invest "hundreds of millions of dollars" building charging outlets in China, which could become its biggest global market next year, billionaire co-founder Elon Musk said.

  • *Novartis to buy GSK's oncology assets for $14.5 bln. The deals, which include Novartis buying GSK's cancer drugs and GSK acquiring Novartis' vaccines business, came hot on the heels of a newspaper report that AstraZeneca had turned down a $101 billion bid approach from Pfizer- a story that sent shares across the sector surging.

  • April 22- Xerox Corp cut its full-year earnings forecast as growth stalled in its services business and margins contracted due to higher investment on U.S. health insurance exchange platforms, sending its shares down about 5 percent in premarket trading.

  • April 22- U.S. coal miner Arch Coal Inc said it expects to ship fewer tons of steel-making metallurgical coal this year after posting a bigger-than-expected quarterly loss due to lower prices and weak demand. Arch Coal, like other coal producers, is paring its assets.

  • April 22- McDonald's Corp posted a lower quarterly profit on Tuesday as sales at the fast-food chain's established U.S. restaurants fell more than expected on fewer customers. In the Asia Pacific, the Middle East and Africa region, same-store restaurant sales rose 0.8 percent, compared to analyst projections for a 0.5 percent increase.

  • April 22- Canada's Valeant Pharmaceuticals International Inc said on Tuesday it has offered to buy Botox maker Allergan Inc for roughly $47 billion in a move to expand its skin and eye-care portfolio. Bill Ackman's Pershing Square, Allergan's largest shareholder with a 9.7 percent stake, disclosed in a filing on Monday that it is supporting the bid.

  • DUBAI, April 22- Dubai's Emaar Properties reported a 55 percent rise in first-quarter net profit on Tuesday, as the region's economic recovery brought consumers back to its malls and shopping units, and house buyers returned to the market.