Latest Business News Wires - Business Headlines


  • AIG posts fourth-quarter profit, raises dividend Thursday, 13 Feb 2014 | 4:04 PM ET

    Feb 13- Insurer American International Group Inc posted a fourth-quarter profit, compared with a year-earlier loss, and raised its quarterly dividend. The company reported net income of $1.98 billion, or $1.34 per share, for the quarter ended Dec. 31, compared with a loss of $3.96 billion, or $2.68 per share, a year earlier.

  • NEW YORK, Feb 13- U.S. stocks rose on Thursday, with the Nasdaq up for a sixth straight session, as investors looked past disappointing data on jobs and consumer spending, chalking the weakness up to weather instead of fundamentals.

  • COLUMN-A winter's tale of a policy error: James Saft Thursday, 13 Feb 2014 | 4:00 PM ET

    Feb 13- An exceptionally cold winter in much of the U.S. is slowing the economy, but may also be laying a trap for the Federal Reserve. Where I live in Alabama we just had our coldest January in about 30 years.

  • SAN FRANCISCO, Feb 13- A U.S. appeals court on Thursday revived a shareholder lawsuit against BP PLC over statements the company made in the wake of a 2006 oil spill in Alaska. The ruling from the 9th U.S. Circuit Court of Appeals in San Francisco allows shareholders to proceed with some securities fraud claims against BP after a lower judge had dismissed them.

  • TORONTO, Feb 13- Chrysler Group LLC is more than halfway toward making a deal with the Canadian government on a proposed multibillion-dollar investment to upgrade its two Ontario facilities, including its minivan assembly plant in Windsor, its top executive said on Thursday.

  • *Treasury sells $16 billion in U.S. 30- year bonds. NEW YORK, Feb 13- U.S. said Heather Loomis, West Coast director of fixed income at JP Morgan Private Bank in San Francisco.

  • WASHINGTON, Feb 13- Japan's Bridgestone Corp has agreed to plead guilty and to pay a $425 million criminal fine for its role in a conspiracy to fix prices on certain automotive parts, the U.S. Department of Justice said on Thursday.

  • FOREX-Dollar hits 2-week low vs euro in broad sell-off Thursday, 13 Feb 2014 | 3:24 PM ET

    NEW YORK, Feb 13- The dollar fell on Thursday to a two-week low against the euro and slid against other major currencies as an unexpected slip in U.S. retail sales fed fears that U.S. economic growth could be slowing.

  • Feb 13- Financial advisers have good reason to celebrate the coming five-year anniversary of Wall Street's stock market low during the financial crisis: Their returns will soon look spectacular.

  • NEW YORK, Feb 13- Brent crude oil futures prices edged lower on Thursday, pressured by a forecast dip in demand during refinery maintenance season and a rise in jobless claims in the United States, the world's largest oil consumer.

  • LONDON, Feb 13- Italy's Eni said it would increase payouts to investors and reduce spending over the next four years, despite cutting its annual forecast for output growth, falling in behind Europe's other big oil firms on dividends and costs.

  • NEW YORK, Feb 13- A benchmark index for global commodities hit 10-1/ 2 month highs on Thursday, propelled as natural gas rallied on crippling cold weather, wheat surged on tight supplies and gold jumped on new jitters about the U.S. economy.

  • *Cisco falls after results, but tech sector rises. NEW YORK, Feb 13- U.S. stocks advanced on Thursday, putting the Nasdaq on track for a sixth straight day of gains as investors looked past disappointing data on consumer spending, chalking the weakness up to weather instead of weaker fundamentals.

  • RIO DE JANEIRO/ LONDON, Feb 13- Concerns over economic growth, corporate earnings and inflation drove Latin American stocks lower on Thursday, although most emerging market currencies gained against the dollar following disappointing U.S. retail data.

  • NEW YORK, Feb 13- A U.S. federal judge has chosen the law firm Scott+ Scott LLP to serve as interim lead counsel in a consolidated class action against many of the world's largest banks alleging manipulation of the roughly $5.3 trillion- a-day foreign exchange market.

  • SAN FRANCISCO, Feb 13- For the first time, Facebook Inc is letting users of its online social network identify themselves as a gender other than male and female. Until now, Facebook's 1.23 billion members could only select male or female for their genders, which Facebook requires users to state in their profiles.

  • SAO PAULO, Feb 13- Brazilian retail sales dropped unexpectedly in December, ending the weakest year in a decade as persistent inflation and eroding consumer confidence sapped one of the few drivers of growth in Latin America's largest economy.

  • SAN FRANCISCO, Feb 13- Japanese online gaming firm Nexon Co Ltd will begin to aggressively explore U.S. acquisitions to further a long-standing plan to expand in Western markets, its CEO-elect Owen Mahoney said.

  • Feb 13- The websites of Las Vegas Sands' casinos around the world on Thursday remained down for a third straight day, as the company and U.S. federal investigators race to unravel a hacking attack that defaced home pages and also exposed sensitive employee information.

  • UPDATE 3-Barrick posts big loss, slashes gold reserves Thursday, 13 Feb 2014 | 2:33 PM ET

    TORONTO, Feb 13- Barrick Gold Corp, the world's largest gold miner, reported a big fourth-quarter loss on Thursday as it took a hefty impairment charge, cut its gold reserve estimate by 26 percent and said costs per ounce would likely rise this year. Dundee Capital Markets analyst Josh Wolfson said Barrick's shares have underperformed so far this year.