Latest Business News Wires - Business Headlines


  • TABLE-India's Feb Iran oil imports down 8.7 pct y/y-trade Thursday, 13 Mar 2014 | 10:17 AM ET

    NEW DELHI, March 13- India's oil imports from Iran declined 8.7 percent in February from a year ago to about 266,000 barrels per day, tanker arrival data compiled by Reuters showed. For a story see: The following table shows India's imports by country according to tanker discharge information. Volumes are in' 000 bpd.

  • NEW DELHI, March 13- India imported about 36 percent less oil from Iran in February than in January, because of efforts to meet U.S. requests to restrict purchases from Tehran to 195,000 barrels per day in the six months to July 20, data from trade sources showed.

  • PRECIOUS-Gold retreats from 6-month high after U.S. data Thursday, 13 Mar 2014 | 10:14 AM ET

    *Gold earlier hit $1,374.85/ oz after breaking resistance. LONDON, March 13- Gold retreated from six-month highs on Thursday after stronger than expected U.S. jobless and retail sales data helped the dollar index recover from early lows and lifted stock markets at the precious metal's expense.

  • WASHINGTON, March 13- U.S. business inventories rose in January, but a drop in sales meant it was now taking the longest time since late 2009 to move goods from shelves. The Commerce Department said on Thursday inventories rose 0.4 percent after increasing 0.5 percent in December.

  • BERLIN, March 13- Gazprom, the state-controlled Russian gas company, said on Thursday it was continuing to deliver gas through Ukraine despite mounting unpaid bills but warned that this was creating holes in its budget for investments and dividends.

  • *Weidmann sees no need for fresh policy action. FRANKFURT, March 13- The European Central Bank is running out of conventional policy tools and any new action would quickly take it into territory where legal questions about some options would arise, Bundesbank chief Jens Weidmann said.

  • LONDON, March 13- Capital flight from Russia has risen sharply since the start of this year to $45- $50 billion, Goldman Sachs said on Thursday, predicting full-year outflows could be as much as $130 billion, or double 2013 levels.

  • March 13- Videoconferencing equipment maker Polycom Inc said it eliminated the position of chief operating officer at a time when the company is cutting costs to better compete against rivals such as Cisco and Google. Eric Brown, who was also the chief financial officer, will leave the company "to pursue other opportunities," Polycom said on Thursday.

  • *Detained in Vienna at request of U.S. authorities. The Federal Crime Agency on Thursday identified the suspect only as Dmitry F., 48, but government sources said it was Firtash, one of Ukraine's richest men.

  • UPDATE 1-Shell says Nigerian oil theft costs billions Thursday, 13 Mar 2014 | 9:32 AM ET

    LONDON, March 13- Royal Dutch Shell lost nearly $1 billion through theft and various disruptions to its Nigerian oil and liquefied natural gas operations in 2013 and said that rampant oil theft is costing the country even more.

  • SAO PAULO, March 13- Brazil's federal police will investigate allegations that officials from state-run oil company Petroleo Brasiliero SA accepted bribes from Dutch ship leaser SBM Offshore NV, newspaper Folha de S.Paulo reported on Thursday.

  • WASHINGTON, March 13- A Target Corp team of security experts, armed with a malware detection tool made by FireEye Inc, alerted company officials about a possible data breach on Nov. 30, but they failed to respond to the warning signs, according to a media report on Thursday.

  • WRAPUP 1-U.S. retail sales rebound, jobless claims fall Thursday, 13 Mar 2014 | 9:23 AM ET

    WASHINGTON, March 13- U.S. retail sales rebounded in February and new applications for unemployment benefits hit a fresh three-month low last week, suggesting some strength in the economy after harsh weather abruptly slowed activity in recent months.

  • ISLAMABAD, March 13- Saudi Arabia loaned $1.5 billion to Pakistan last month to help Islamabad shore up its foreign exchange reserves, meet debt-service obligations and undertake large energy and infrastructure projects, Pakistani officials have told Reuters.

  • LONDON, March 13- Oil held near $108 a barrel on Thursday as weaker-than-expected Chinese economic data offset worries about disruption of supply prompted by the stand-off between Russia and Western powers over Ukraine.

  • *Policymaking lapses hurt Nigeria, Ghana. *Investors becoming more discerning on Africa. LONDON, March 13- Foreign investors' growing presence in sub-Saharan African financial markets has made those assets more vulnerable to contagion from losses in bigger emerging markets and problems on the home turf are not helping.

  • UPDATE 2-GE credit card unit files to go public Thursday, 13 Mar 2014 | 9:11 AM ET

    *Goldman Sachs, JP Morgan, Citigroup, Morgan Stanley are lead underwriters. March 13- General Electric Co's credit card unit filed for an initial public offering, the first step in the conglomerate's planned exit from the retail finance business.

  • LONDON, March 13- "We believe commercial shale gas extraction should only go ahead in the United Kingdom if it can be objectively demonstrated that the regulatory framework is fit for purpose," six leading conservation organisations wrote in a report on Thursday.

  • Amazon raising annual Prime membership fee to $99 Thursday, 13 Mar 2014 | 9:07 AM ET

    March 13- Amazon.com Inc told customers on Thursday that the annual membership fee for its Prime shipping and media streaming service would go up to $99 from $79 next week, the first time it has increased the price since the service began in 2005..

  • SOFTS-Coffee firms, near 2-year peak, sugar dips Thursday, 13 Mar 2014 | 9:05 AM ET

    LONDON, March 13- Arabica coffee futures rose and traded near a two-year high, underpinned by concerns over drought in Brazil, while cocoa edged up on expectations of a global deficit and firm demand.