Latest Business News Wires - Business Headlines


  • *China internet deals: Citic Bank, ChinaVision soar. HONG KONG, March 12- China shares fell less than others in Asia on Wednesday, limiting Hong Kong losses, as property developers rose on hopes the country's annual parliamentary meetings will end without announcing additional curbs on the sector.

  • SHANGHAI, March 12- China's yuan fell slightly on Wednesday as corporate dollar demand appeared to exceed supply, with the recent central bank-engineered yuan devaluation translating into genuinely bearish market sentiment, traders said.

  • *Asian stocks lose ground on economic uncertainty, Ukraine tensions. *Ukraine appeals to West as Crimea turns to Russia. SINGAPORE, March 12- Brent futures fell towards $108 a barrel on Wednesday as demand growth concerns at the world's two biggest oil consumers overshadowed fears of supply disruption with geopolitical tensions over Ukraine worsening.

  • JGBs up as Tokyo shares swing lower Tuesday, 11 Mar 2014 | 11:31 PM ET

    TOKYO, March 12- Japanese government bonds edged up on Wednesday, as share prices swung lower in Japan and across Asia on concerns about the economic uncertainty in China and United States as well as political tensions in Ukraine.

  • SINGAPORE, March 12- Gold climbed for a second session on Wednesday to its highest in 4-1/ 2 months, as global uncertainty over economic growth and tensions in Ukraine burnished the metal's safe-haven appeal. Weakness in equities and base metals, along with technical buying, propelled gold prices through resistance at $1,355 an ounce, traders said.

  • Premier Li Keqiang declared China's pollution as "nature's red-light warning against inefficient and blind development" in his address to the annual meeting of parliament on March 5.

  • HONG KONG, March 12- China's largest e-commerce company Alibaba Group Holding has agreed to buy a controlling stake in ChinaVision Media Group Ltd for $804 mln, giving it access to TV and movie content as competition in the world's biggest Internet market becomes increasingly cutthroat.

  • BEIJING, March 12- China will step up its hunt for corrupt officials who have fled abroad, confiscate illegal assets of overseas fugitives and stop suspect offenders leaving the country, as it intensifies the fight against graft, state media said on Wednesday, citing the country's top prosecutor.

  • WASHINGTON, March 11- The chief executive officer of Japan's SoftBank Corp on Tuesday called the U.S. wireless market an oligopoly plagued by slow speeds and high prices and said his company's Sprint Corp could shake up the competition, but it would require a scale that Sprint cannot reach alone.

  • TORONTO, March 11- A new free trade agreement with South Korea will throw a wrench into Canada's auto sector recovery, union leaders and an automaker warned on Tuesday, highlighting the pressure on an industry already struggling with competition from Mexico.

  • *Air force chief denies saying plane tracked to Malacca Strait. KUALA LUMPUR, March 12- Malaysia's air force chief has denied saying military radar tracked a missing Malaysia Airlines jetliner over the Strait of Malacca, adding to the mystery surrounding the fate of flight MH370, which vanished on Saturday with 239 people aboard.

  • *Copper prices melting as Shanghai futures hit lowest since 2009. SYDNEY, March 12- Asian stock markets swung lower on Wednesday as economic uncertainty in China and the United States combined with political tensions in Ukraine to keep investors cautious and commodities under a dark cloud.

  • BRASILIA/ SAO PAULO, March 11- Brazil's lower house of Congress approved on Tuesday the creation of a special committee to monitor any probes in the Netherlands of allegations that a Dutch company paid bribes to officials at state-run oil company Petrobras.

  • Vietnam scales down search for missing Malaysian jet Tuesday, 11 Mar 2014 | 9:56 PM ET

    PHU QUOC ISLAND, Vietnam, March 12- Vietnam said on Wednesday it was scaling back the search in Vietnamese waters for a Malaysian Airlines jetliner missing for four days, a senior Vietnamese official said.

  • SYDNEY, March 12- Shanghai copper fell by its five percent daily limit on Wednesday and London copper touched a 44- month low, as fears grew that credit-linked defaults in China could unlock copper from financing deals and unleash further selling.

  • *Yamato Holdings soars to 8- year high on price hike report. TOKYO, March 12- Japan's Nikkei share average slid more than 2 percent on Wednesday as investors locked in profits after a recent rally to a five-week high, while a stronger yen hit overall sentiment and dragged down exporters like Toyota Motor.

  • U.S. scrap copper trade fears defaults from China Tuesday, 11 Mar 2014 | 9:30 PM ET

    NEW YORK, March 11- At least one U.S. scrap copper trader has suffered "large" losses after a buyer in China defaulted on a deal in the past week, one of the first signs that sinking prices and tightening credit are taking a toll on the physical market. China is the world's biggest copper consumer. "Copper was Bitcoin for China.

  • KUALA LUMPUR, March 11- Malaysia's air force chief denied a media report that the military last tracked a missing Malaysia Airlines jetliner over the Strait of Malacca, far from where it last made contact with civilian air traffic control when it disappeared four days ago.

  • NYMEX-U.S. crude returns below $100 as stockpiles rise Tuesday, 11 Mar 2014 | 8:56 PM ET

    U.S. crude dropped 64 cents to $99.30 a barrel by 0034 GMT, after settling $1.09 down at $100.03, its lowest since Feb. 11. *Ukraine's government appealed for Western help on Tuesday to stop Moscow annexing Crimea but the Black Sea peninsula, overrun by Russian troops, seemed fixed on a course that could formalise rule from Moscow within days.

  • U.S. military braces for budget battles with Congress Tuesday, 11 Mar 2014 | 8:42 PM ET

    WASHINGTON, March 11- Top U.S. defense officials are bracing for a brutal season of budget negotiations, warning U.S. lawmakers that the U.S. military will gradually become unable to respond to emerging crises if Congress blocks the Pentagon's plans to cut military compensation, close bases and retire entire fleets of aircraft.