Latest Business News Wires - Business Headlines



  • DETROIT, Aug 26- Employees at the Volkswagen AG auto plant in Chattanooga, Tennessee, are attempting to form a union that will include hourly and salaried workers as a counter to the United Auto Workers Local 42 established last month, a leading anti-UAW worker said on Tuesday.

  • NEW YORK, Aug 26- The world's largest airline, American Airlines Group Inc, said on Tuesday it was immediately pulling its airfares from online travel sites operated by Orbitz Worldwide Inc after the companies failed to reach a commercial agreement. "We were unable to reach a deal with Orbitz with economics that allow us to do that."

  • The session will include bond insurers that guaranteed payment on the COPs- Syncora and Financial Guaranty Insurance Co.. In an Aug. 12 court filing, Syncora lashed out at mediators, including Rosen, who brokered the grand bargain, which is also aimed at protecting the museum's artwork from being sold to pay Detroit creditors.

  • QUITO, Aug 26- Ecuador is in talks with China Development Bank to renew a $1.5 billion credit line, the Finance Ministry said on Tuesday, saying that the funds would be used for investments to be carried out in 2015.. Ecuador's Finance Ministry did not respond to requests for more details.

  • TORONTO, Aug 26- Bank of Nova Scotia and Bank of Montreal posted higher third-quarter profits on Tuesday, benefiting from gains at their traditional Canadian lending arms as well as the impact of buoyant capital markets.

  • NEW YORK, Aug 26- U.S. prosecutors on Tuesday charged an employee of a New York investor relations firm with insider trading, accusing him of using nonpublic information to earn more than $538,000 in illicit profits.

  • PARIS, Aug 26- A decline in the number of people worldwide who speak French could cost France 120,000 jobs by 2020 and half a million by 2050, due to missed economic opportunities, a report commissioned by President Francois Hollande said on Tuesday.

  • Aug 26- Trina Solar Ltd said it was working on plans to set up manufacturing sites overseas, becoming the latest Chinese solar company looking to work around U.S. tariffs on solar products made in China and Taiwan.

  • *Libya calls for foreign help to protect oil infrastructure. U.S. crude jumped $1 after an industry group reported that U.S. consumer confidence rose in August to its highest level since October 2007 on improved feelings about the current state of the economy, but later trimmed gains after failing to push through a resistance point at $94.35, analysts said.

  • WASHINGTON, Aug 26- Time Warner Cable Inc will pay $1.1 million to resolve a Federal Communications Commission investigation that last year found the cable and Internet provider did not properly report multiple network outages, the regulators said this week. Time Warner Cable submitted all missing reports by November 8, 2013, the FCC said.

  • BNY Mellon, a financial intermediary between the Argentine government and its bondholders, has been caught up in a bitter legal battle between U.S. investment funds and the South American country, which in July defaulted for the second time in 12 years.

  • *Euro STOXX 50 up 1 percent. LONDON, Aug 26- Euro zone blue chips recorded their biggest two-day gain in over a year on Tuesday, boosted by the prospect of further stimulus from the European Central Bank and by strong gains for some steelmakers. The euro zone's Euro STOXX 50 index closed 1 percent higher, posting its steepest two-day rise since June 2013 at 3.2 percent.

  • Bachelet, who took power in March, is pushing a wide range of reforms through Congress aimed at addressing inequality in Chile. Most crucial copper workers in Chile belong to local plant unions, who are not taking part in the strike, although Ahumada said it would be difficult for the mines to run normally without the contract workers.

  • Aug 26- Pfizer Inc said Tuesday it will test its Xalkori lung cancer drug with Merck& Co's experimental immunotherapy pembrolizumab, in hopes the combination will improve the outcomes for patients taking the approved Pfizer therapy. The largest U.S. drugmakers said the combination study will begin in 2015 and be conducted by Pfizer.

  • PRETORIA, Aug 26- South Africa avoided slipping into recession in the second quarter as solid growth in agriculture and finance outweighed a plunge in production in the strike-hit mining sector, data showed on Tuesday.

  • *Alcoa to shut Sardinian ops, cut aluminium capacity by 150,000 T. LONDON, Aug 26- Aluminium touched a 18- month peak on Tuesday, boosted by a big long position and declining available stocks, with metals markets also supported by hopes the European Central Bank would implement stimulus measures.

  • LONDON, Aug 26- China and the United States appear headed for a damaging confrontation over the extent of China's territorial claims in the South and East China Seas. Now that China has become the world's largest importer of oil, and energy more generally, the country's need to develop more indigenous energy supplies has become urgent.

  • *Best Buy tumbles after results, DSW rises. *Digital Ally gains further, has tripled this month. NEW YORK, Aug 26- U.S. stocks rose on Tuesday, with both the Dow and S&P 500 hitting fresh intraday records on the back of strong consumer data suggesting the market's long-running rally could continue.

  • Aug 26- Ann Inc has hired JPMorgan Chase& Co to explore strategic alternatives, including a potential sale of the women's retailer, according to people familiar with the matter.