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Latest Business News Wires - Business Headlines

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  • Gray Financial Group Inc and its top two executives have been the targets of an SEC investigation since at least August 2013, according to a complaint they filed in U.S. District Court for the Northern District of Georgia, but the agency has not yet filed a formal enforcement case. It said SEC officials have told Gray that it plans to file an administrative...

  • Feb 19- Upscale department store operator Nordstrom Inc reported a lower-than-expected quarterly profit as it spent more on technology upgrades and store expansion, and increased discounts at its Rack brand stores in the holiday shopping season. Nordstrom also forecast a bigger loss for its Canada business in 2015 as it continues its expansion with store...

  • WILLISTON, N.D., Feb 19- This week's oil train derailment and resulting explosion in West Virginia are likely to heighten scrutiny of new regulations pending in North Dakota, where the oil was produced, aimed at reducing the chance of such disasters. The cargo in Monday's accident was loaded onto a BNSF Railway Co locomotive at a facility owned by Plains All...

  • OTTAWA, Feb 19- Canada is introducing substantial new tax measures that will allow investors in new liquefied natural gas facilities to recover their costs more quickly, Prime Minister Stephen Harper said on Thursday. The measures could help companies move forward with stalled developments in Canada, even as they cut spending around the world in response to...

  • Feb 19- Fast-casual restaurant chain operator Noodles& Co forecast 2015 adjusted profit that missed analysts' estimates, sending its shares down 25 percent in after-market trading. Noodles& Co's fourth-quarter profit also missed Wall Street's estimates, hurt by lower sales at its restaurants in the all-important holiday quarter. Net income rose to $3.5...

  • NEW YORK/ WASHINGTON, Feb 19- The U.S. government filed a lawsuit on Thursday seeking to block Sysco Corp's proposed takeover of rival food distributor US Foods Inc, saying the $3.5 billion deal would "eliminate significant competition" in the sector. Sysco's share price was down 3.4 percent for the day, initially on concerns that the Federal Trade Commission was...

  • LOS ANGELES, Feb 19- The U.S. labor secretary engaged in a third straight day of talks with shipping executives and union leaders for dockworkers on Thursday seeking to settle a contract dispute that has led to months of disruptions at the 29 ports along the West Coast. Labor Secretary Tom Perez joined the talks in San Francisco at the behest of President Barack...

  • PARIS, Feb 19- French drugmaker Sanofi on Thursday named Olivier Brandicourt, a Paris- educated doctor and head of Bayer AG's healthcare arm, as its chief executive officer. Brandicourt had been widely tipped to become Sanofi's new boss, a position that opened when Chris Viehbacher was suddenly sacked last year. "Olivier Brandicourt's strong experience...

  • Feb 19- A Federal Reserve official on Thursday redoubled his call for the U.S. central bank to start raising interest rates soon, saying he fears that waiting too long could spell a "harrowing and disruptive" time for the Fed and the economy. Predicting U.S. unemployment will fall below 5 percent by the third quarter of this year, St. Louis Fed President James Bullard...

  • OTTAWA, Feb 19- Canada is introducing substantial new tax measures that will allow investors in liquefied natural gas facilities to recover their costs more quickly, Prime Minister Stephen Harper said on Thursday.

  • Feb 19- Digital security company Gemalto NV was hacked by American and British spies to steal encryption keys used to protect the privacy of cellphone communications, news website Intercept reported, citing documents provided by whistleblower Edward Snowden. Gemalto makes smart chips for mobile phones, bank cards and biometric passports and counts...

  • *Priceline rallies after results, Wal-Mart down. NEW YORK, Feb 19- The Nasdaq rose for a seventh straight session on Thursday as Priceline shares jumped, while the Dow and S&P 500 eased following declines in energy shares and a disappointing outlook from Wal-Mart. A drop in shares of Wal-Mart Stores Inc weighed down the Dow after the company cut its sales outlook,...

  • Feb 19- Intuit Inc reported a smaller-than-expected quarterly loss due to strong demand for its online tax-preparation software, TurboTax, at the start of the U.S. tax-filing season. Intuit's net loss widened to $66 million, or 23 cents per share, for the second quarter ended Jan. 31, from $37 million, or 13 cents per share, a year earlier. On an adjusted basis, the...

  • Feb 19- Newmont Mining Corp, the U.S.' s largest gold producer, reported on Thursday a narrower adjusted fourth quarter profit, though earnings were stronger than expected. Adjusted net income, which excludes one-time items like non-cash write downs, was $86 million, or 17 cents a share, in the quarter ended Dec. 31, compared with $143 million, or 28 cents a share, in the...

  • LOS ANGELES, Feb 19- A move by bankrupt San Bernardino to spend up to $200,000 on a public relations firm has angered some of the cash-strapped California city's creditors, who face deep cuts under an imminent exit plan. Negotiations between San Bernardino and most of its creditors have stalled, three months before it must produce a court-ordered bankruptcy...

  • *USDA cattle, storage reports on Friday. Thursday morning's average market-ready or cash hog price in Iowa/ Minnesota was up 52 cents per hundredweight from Wednesday to $57.71, the U.S. Department of Agriculture said. Separate USDA data showed the morning's wholesale pork price had risen 39 cents per cwt from Wednesday to $72.83.

  • NEW YORK, Feb 19- Diversified U.S. manufacturer Emerson Electric Co is "moving to being more of a buyer"- after shedding businesses worth $3.5 billion in recent years- and would consider multi-billion-dollar acquisitions, the company's president said on Thursday. Emerson is still exploring $500 million to $1 billion worth of divestitures to focus the business,...

  • WASHINGTON, Feb 19- The United States on Thursday urged European leaders and Greece to all make concessions in testy negotiations over extending a loan agreement that is vital for Athens. Washington has sent this message to Greece as well as Germany, the official said. Earlier on Thursday, Germany rejected a Greek proposal for a six-month extension to its euro...

  • Wal-Mart will be spending some of the money to help pay for an effort to give employees more control over when and how much they work. Wal-Mart shares, you will note, duly fell 3.2 percent. I am heartily glad that Wal-Mart has raised wages and hope that wage growth is so strong that it eats into corporate margins, now at all time-highs.

  • WASHINGTON, Feb 19- Federal investigators will examine whether pressurized gas played a role in the massive blast that followed the derailment of a train carrying crude oil through West Virginia this week, the U.S. Transportation Department said on Thursday. Questioning the possible role of gas vapors in the West Virginia fire broadens the debate over how to...