Latest Business News Wires - Business Headlines


  • TORONTO, June 20- The Canadian government plans to cap the number of low-wage temporary foreign workers that employers can bring to Canada as part of sweeping policy reforms that will be announced later on Friday, according to reports in Canadian media outlets.

  • US STOCKS-Futures flat after five-day winning streak Friday, 20 Jun 2014 | 7:50 AM ET

    *Oracle slumps in premarket after results. NEW YORK, June 20- U.S. stock index futures were little changed on Friday, on the heels of a five-day rally in the S&P 500 that sent the benchmark index to its latest record high, putting it on track for its fourth weekly gain in the last five.

  • *Sterling firm on more signs of UK economic strength. LONDON, June 20- The dollar inched up on Friday, helped by gains against the safe-haven yen, but it was still headed for its worst week since early May against a basket of currencies after the Federal Reserve's surprisingly dovish policy outlook.

  • LONDON, June 20- Investors are seeking new defenses against possible falls in European stocks as indexes plateau near multi-year highs and traditional hedges prove ineffective in a market anesthetized by near-zero interest rates.

  • *Gold near two-month high after short-covering rally. LONDON, June 20- Oil traded at close to nine-month highs on Friday, on course for a second week of gains, as violence in Iraq raised worries over supplies.

  • MADRID, June 20- Spain will propose tax cuts for workers and companies as part of a fiscal reform due to be unveiled on Friday aimed at boosting the nascent economic recovery, according to a source close to the Treasury Ministry.

  • JAKARTA, June 20- Indonesia is drafting a new mining export tax that would more than halve the base rate to be paid by miners but doubts remain whether it would be accepted by major copper miners and end a five-month-old dispute that has halted concentrate exports.

  • BRUSSELS, June 20- A European Central Bank policy maker has floated the idea of widening the ECB's new policing of big banks to other financial players, providing a rare glimpse of its ambition to extend the reach of banking union.

  • PARIS/ FRANKFURT, June 20- Siemens and Mitsubishi Heavy Industries added a billion euros to their offer for Alstom's energy business on Friday, hoping to see off a revamped bid by General Electric ahead of Monday's deadline for a decision on the struggling company's fate.

  • TBILISI, June 20- Ukraine must take brave measures to transform an economy hooked on cheap Russian gas, huge state spending and corruption into an investment destination able to bolster a weak state, an economic adviser to the government said. "It's a' to be or not to be' question for Ukraine right now," Bendukidze said.

  • LONDON, June 20- Iraqi Kurdistan looked set to unload its first cargo of disputed crude oil in Israel from its new pipeline after weeks of seeking an outlet as Iraq's central government has threatened legal action against any buyer.

  • MANILA, June 20- The Philippines has taken emergency measures in a bid to head off a fast-spreading insect infestation threatening its coconut plantations, which if left uncontrolled could severely cripple the country's most valuable agricultural export.

  • *Gold falls after 3.3 percent jump overnight. LONDON, June 20- Gold fell one percent on Friday as investors took profits after it posted its biggest daily rise in nine months, but was still set for the biggest weekly rise in three months on Iraq tensions and a softer dollar after the Federal Reserve's comments.

  • MONACO, June 20- Hedge fund managers who seek out quick returns from company turnarounds and short-term bets on specific assets are in fashion as investors ponder their next move after long rallies in stocks and bonds.

  • LONDON, June 20- Paolo Scaroni, the former chief executive of Italian oil and gas company Eni, is to join investment bank Rothschild as deputy chairman, Rothschild said on Friday. Scaroni, who is under investigation over corruption charges involving oil services group Saipem, left Eni after its shareholders approved a new board for the company.

  • BEIJING, June 20- China has sent four oil rigs into the South China Sea in a sign that Beijing is stepping up its exploration for oil and gas in the tense region, less than two months after it positioned a giant drilling platform in waters claimed by Vietnam.

  • *Premature to discuss how, when to end QQE-Momma. TOKYO, June 20- The Bank of Japan has a variety of tools and ways to exit from its massive monetary stimulus, although it is premature to discuss when it will end its ultra-loose policy, a senior central bank official said in an article released on Friday.

  • *Some Iranian crude supplied via Malaysia- Sri Lanka govt spokesman. *Sri Lanka's sole refinery is configured for Iran light crude. COLOMBO, June 20- The United States denied on Friday that it had any agreement with Sri Lanka to allow Colombo to import Iranian crude oil through third parties, avoiding Western sanctions aimed at curbing Iran's nuclear programme.

  • *Obama to send up to 300 military advisors to Iraq. LONDON, June 20- Oil held near $115 a barrel on Friday, close to a nine-month high, and was headed for its second weekly gain on increased risks of disruption to supply from Iraq.

  • LONDON, June 20- British drugmaker Shire has rejected a 27 billion-pound takeover offer from AbbVie, the latest attempt by a U.S. healthcare firm to tap into the London- listed group's low tax rate. Abbvie's takeover offer proposed creating a new U.S.-listed holding company with a UK tax domicile in a so-called "inversion" move.