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Latest Business News Wires - Business Headlines

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  • *Greece concerns weigh on Europe, Athens stocks up. LONDON, Jan 29- Stocks fell in Europe and Asia and the dollar strengthened on Thursday after the Federal Reserve took an upbeat view of the world's largest economy and signaled it was on track to raise interest rates this year. Greece, where a radical leftist prime minister took over on Monday, also kept investors...

  • FRANKFURT, Jan 29- Lending to households and firms in the euro zone fell by 0.5 percent in December, but at a slower pace than in the previous month, while money supply grew by 3.6 percent, the European Central Bank said on Thursday. Sparce lending to companies continues to dog the struggling economy of the 19- country euro zone. In monthly 60 billion-euro...

  • FOREX-Dollar firm post-Fed, franc eyed for intervention Thursday, 29 Jan 2015 | 4:12 AM ET

    LONDON, Jan 29- The U.S. dollar inched higher against the yen and was steady to the euro on Thursday after a Federal Reserve statement which, with some caveats, was read as keeping the bank on track to raise interest rates later this year. That prodded U.S. bond yields lower, but the overall picture, of a steadily improving U.S. economy while Europe and Japan remain mired...

  • MUMBAI, Jan 29- India's decision to drop a tax dispute with Vodafone Group Plc is likely to mean relief for Royal Dutch Shell PLC and others caught in similar, protracted battles, as the government tries to attract much-needed foreign investment. Late on Wednesday, India's government said it would not appeal a regional court ruling in favour of Vodafone, the...

  • European shares fall; Vallourec sinks after warning Thursday, 29 Jan 2015 | 4:05 AM ET

    *Vallourec warns of 1- 1.2 bln euro impairment, shares fall 6 pct. Vallourec featured among the top losers, falling 6 percent after the steel pipes maker warned of an impairment charge of 1.0- 1.2 billion euros on the value of its assets, blaming turmoil in the oil market. Also, Vallourec has not impaired anything in the U.S., whereas market conditions are deteriorating...

  • LONDON, Jan 29- German bond yields fell on Thursday as worries over Greece's new anti-bailout government buoyed demand for top-rated assets from investors who were also starting to think the U.S. Athens looked to set to endure a fourth day of market jitters since Sunday's election with its newly-instated government at loggerheads with international...

  • *AstraZeneca working with academic groups and Thermo Fisher. LONDON, Jan 29- AstraZeneca said on Thursday it had struck four research agreements in the hot area of genome editing as it bets on a new "genetic scissors" technology to deliver better and more precise drugs for a range of diseases. The collaborations with Britain's Wellcome Trust Sanger Institute, the...

  • PARIS, Jan 29- Steel pipe maker Vallourec plans to write down the value of its assets by 1- 1.2 billion euros, reflecting a drop in demand from oil company customers following the plunge in crude prices. Vallourec confirmed its June warning that underlying profits would fall by around 10 percent from a year earlier, but said the real concern lay ahead.

  • LONDON, Jan 29- Royal Dutch Shell shares fell on Thursday after the oil company missed profit expectations and announced a three-year, $15 billion cut in spending reflecting a steep fall in oil prices. "It was a big miss in upstream," said Raymond James analyst Bertran Hodee. The $15 billion spending cut, which will involve canceling and deferring projects through...

  • Visa Europe profits jump as consumers switch from cash Thursday, 29 Jan 2015 | 3:44 AM ET

    LONDON, Jan 29- More than 1.5 trillion euros was spent on Visa cards in Europe last year, an annual increase of nine percent as more consumers switch from cash payments. Visa Europe is based in Britain and is owned and operated by member banks and other payment service providers from 37 countries. It said there were 37 billion transactions on its cards last year from...

  • MOSCOW, Jan 29- Russia's Gazprom posted a 35 percent drop in nine-month net profit to 556.3 billion roubles year-on-year, after the world's top gas producer was hit by a dispute with Ukraine and currency losses. After putting aside 83.9 billion roubles in provisions for Ukraine's gas debt which prompted Moscow to cut off supplies in June, Gazprom said the future...

  • BEIJING, Jan 29- China's factory growth likely inched up from a 1-1/ 2- year low in January, helped by a slight pick-up in momentum the previous month, but the bounce is not expected to last due to unsteady exports and slowing investment, a Reuters poll showed. A housing slump, erratic growth in exports and a state-led slowdown in investment to help restructure...

  • UPDATE 1-Kaz Minerals hits annual copper output target Thursday, 29 Jan 2015 | 3:20 AM ET

    LONDON, Jan 29- Copper miner Kaz Minerals, formerly known as Kazakhmys, hit its production target for last year and made its first shipment of concentrate from its new copper and gold mine at Bozymchak in December, it said on Thursday. The London- listed company produced 294,000 tonnes of copper cathode equivalent in 2013. After the completion of a restructuring...

  • LONDON, Jan 29- Royal Dutch Shell missed earnings expectations on Thursday while announcing a three-year $15 billion cut in spending, joining peers in belt-tightening after a sharp decline in oil prices. Chief Executive Ben van Beurden however warned against an over reaction to the oil price drop, while maintaining dividends to soothe investors.

  • UPDATE 1-Diageo posts lower-than-expected sales Thursday, 29 Jan 2015 | 3:11 AM ET

    LONDON, Jan 29- Diageo, the world's largest spirits maker, reported lower-than-expected sales for the six months to December, hurt by foreign exchange rate moves and discounting on vodka in the United States, its biggest and most profitable market. Chief Financial Officer Deirdre Mahlan told reporters on Thursday that Diageo was not yet feeling the benefit of...

  • By Yantoultra Ngui and Fransiska Nangoy KUALA LUMPUR/ JAKARTA, Jan 29- Indonesia narrowed the gap in car output with Thailand, Southeast Asia's automaking hub, to its smallest ever last year in percentage terms and is expected to overtake the Thai industry within a decade. Indonesia, Southeast Asia's largest economy, has already surpassed Thailand as the...

  • Hong Kong shares end lower on falls in regional bourses Thursday, 29 Jan 2015 | 3:07 AM ET

    "Investor sentiment was hurt by the falls on mainland markets, and losses in the U.S. led the Hang Seng to fall further," said Sam Chi Yung, strategist at Delta Asia Financial Group in Hong Kong. Among the most actively traded stocks on Hong Kong's main board were Artini China Co Ltd, up 9.2 percent at HK $0.14, China Construction Bank, down 1.6 percent at HK $6.25 and Bank...

  • European shares fall early after bullish Fed Thursday, 29 Jan 2015 | 3:06 AM ET

    PARIS, Jan 29- European stocks fell in early trading on Thursday after the U.S. Vallourec featured among the top losers, down 6.5 percent, after the steel pipes maker warned of an impairment charge of 1.0- 1.2 billion euros on the value of its assets, blaming turmoil in the oil market. At 0802 GMT, the FTSEurofirst 300 index of top European shares was down 0.5 percent at...

  • UPDATE 2-Dollar strength brightens outlook for Infineon Thursday, 29 Jan 2015 | 3:06 AM ET

    FRANKFURT, Jan 29- German chipmaker Infineon reported better than expected first-quarter results on Thursday and raised its forecast for the year, boosted by the dollar's strength and improved demand for its power management and security chips. Infineon, which also makes chips that activate car airbags, control air conditioners and washing machines and...

  • JGBs mostly flat, superlong zone underperforms Thursday, 29 Jan 2015 | 3:04 AM ET

    TOKYO, Jan 29- Benchmark Japanese government bonds were mostly flat on Thursday, while the superlong tenor was slightly weaker even as plunging stocks put a floor under bond prices. Japan's Nikkei stock average shed 1.1 percent after the Federal Reserve took an upbeat view on the U.S. economy and signalled that it remains firmly on track to raise interest rates...