Latest Business News Wires - Business Headlines


  • UPDATE 1-Thomson Reuters profit beats expectations Wednesday, 30 Apr 2014 | 7:49 AM ET

    "We are off to a solid start, and the first quarter's performance is consistent with our full-year expectations," Chief Executive Officer Jim Smith said in a statement.

  • DUBAI, April 30- International Petroleum Investment Co posted a 23.4 percent increase in 2013 net profit on Wednesday, as the investment fund owned by the Abu Dhabi government benefited from a recovery in global equity markets.

  • April 30- Barrick Gold Corp reported a sharp drop in first quarter earnings on Wednesday and cut its forecast for 2014 copper production after damage to the main conveyor at its Lumwana mine in Zambia halted processing there.

  • April 30- International Paper Co posted a higher-than-expected quarterly profit on Wednesday due to rising North American demand for its corrugated shipping boxes. IP, which has a large joint venture in Siberia, is closely monitoring the tension between Russia and the Ukraine, but so far has taken no action.

  • HP, Foxconn launch cloud server joint venture Wednesday, 30 Apr 2014 | 7:40 AM ET

    April 30- Hewlett-Packard Co and Taiwanese contract electronics manufacturer Foxconn Technology Group launched a joint venture to make servers aimed at companies which provide cloud computing services. The new cloud-optimized servers will help service providers to cut costs, the companies said in a statement.

  • Ukraine crisis showcases Russian military revamp Wednesday, 30 Apr 2014 | 7:37 AM ET

    *Moscow defence spending up 30 pct since Georgia war. LONDON, April 30- Holding drills on Ukraine's border and sending bombers to the edge of NATO airspace, Russia's newly reformed military is in just the kind of regional confrontation it was redesigned for, experts say.

  • SAO PAULO, April 30- Embraer SA, the world's third-largest commercial planemaker, said on Wednesday that first-quarter profit more than tripled, beating estimates with surging defense and business jet revenue.

  • April 30- Garmin Ltd reported a better-than-expected 10 percent rise in quarterly revenue as higher sales of its fitness and aviation devices made up for shrinking sales of personal navigation devices, a market it once dominated.

  • MADRID, April 30- Spain's economy grew at its fastest quarterly pace in six years at the start of 2014, but the government is struggling to persuade voters that a solid recovery is underway as unemployment remains sky high and consumer spending anaemic.

  • GRAINS-Corn dips from 3-week high as wheat, soybeans fall Wednesday, 30 Apr 2014 | 7:23 AM ET

    *Wheat faces resistance at $7.20. HAMBURG/ SINGAPORE, April 30- Chicago corn eased from a three-week high on Wednesday and wheat dipped, as grain markets took a breather after rallying in the previous session on global supply concerns sparked by poor U.S. crop weather. Wheat faced technical resistance while the market shrugged off the political crisis in Ukraine.

  • *Its facilities could be sold for a symbolic 1 euro- Italian media. NEW DELHI/ LONDON, April 30- India's billionaire brothers, Naveen and Sajjan Jindal, could be the answer Pope Francis is looking for.

  • LONDON, April 30- Gold fell on Wednesday ahead of a Federal Reserve policy meeting and U.S. data that is expected to show the world's biggest economy is improving, but tensions in Ukraine provided some support for the metal, a traditional haven from risk. U.S. gold futures for June delivery were down $3.70 an ounce at $1,292.60.

  • Time Warner 1st-qtr results beat estimates Wednesday, 30 Apr 2014 | 7:16 AM ET

    April 30- Time Warner Inc reported a 9 percent rise in quarterly revenue, helped by growth in its Warner Bros movie studio business and premium TV service Home Box Office. Net income from continuing operations rose to $1.29 billion, or $1.42 per share, from $754 million, or 79 cents per share.

  • GlaxoSmithKline drug sales off to weak start in Q1 Wednesday, 30 Apr 2014 | 7:16 AM ET

    LONDON, April 30- GlaxoSmithKline posted a 10 percent fall in quarterly sales on Wednesday, highlighting some of the industry pressures behind last week's decision to trade more than $20 billion of assets with Swiss rival Novartis.

  • Thomson Reuters reports rise in operating profit Wednesday, 30 Apr 2014 | 7:12 AM ET

    Operating profit rose to $528 million in the first quarter from $462 million a year earlier. Revenue from ongoing businesses increased 1 percent to $3.1 billion, in line with analysts estimates, according to Thomson Reuters I/B/E/S.

  • Battery maker Energizer to split into two Wednesday, 30 Apr 2014 | 7:12 AM ET

    April 30- Energizer Holdings Inc said it plans to separate into two publicly traded companies, one for household products and the other for personal care. The separation is planned as a tax-free spin-off and is expected to be completed in the second half of the 2015 fiscal year, the company said in a statement.

  • *Britain worries transaction tax will hit City of London. *Defeat is setback for UK in tussle with Brussels. BRUSSELS/ LONDON, April 30- Britain's legal challenge to a financial transactions tax was rejected by Europe's highest court, dealing another blow to attempts to shield London's financial centre from the influence of Brussels.

  • Garmin revenue up as fitness, aviation sales rise Wednesday, 30 Apr 2014 | 7:08 AM ET

    April 30- Garmin Ltd reported a 10 percent rise in quarterly revenue, helped by higher sales of its fitness and aviation navigation devices. The company's net income rose to $118.8 million, or 61 cents per share, in the first quarter ended March 29, from $88.7 million, or 45 cents per share, a year earlier.

  • April 30- International Paper Co, the largest North American producer of corrugated shipping boxes, posted a quarterly loss on Wednesday due to charges to close an Alabama paper mill. The company had a first-quarter net loss of $95 million, or 21 cents per share, compared with net income of $318 million, or 71 cents per share, in the year-ago period.

  • April 30- Synergy Pharmaceuticals Inc said its experimental constipation drug met the main goal of a mid-stage study in patients with a form of irritable bowel syndrome. The company's shares jumped about 11 percent to $5.35 in premarket trading on Wednesday.