Latest Business News Wires - Business Headlines


  • April 23- Safeway Inc on Wednesday said it plans to boost results by passing higher costs for meat, produce and other staples on to shoppers at its U.S. grocery stores, sending shares up 1.4 percent.

  • SAN FRANCISCO, April 23- Qualcomm Inc on Wednesday posted its smallest quarterly revenue increase since 2010 as it wrestles with a smartphone market that is losing steam and shifting to China, sending its shares lower.

  • GE in talks to buy France's Alstom - Bloomberg Wednesday, 23 Apr 2014 | 5:33 PM ET

    April 23- General Electric Co is in talks to buy French turbine and train maker Alstom SA for about $13 billion, Bloomberg reported, citing people with knowledge of the matter. An Alstom spokeswoman denied the report saying "these are totally unfounded rumours". Alstom has a market valuation of about $10.37 billion, according to Thomson Reuters data.

  • April 23- Electronic products distributor Ingram Micro Inc posted weaker-than-expected quarterly results due to a rise in costs and interest expenses, sending its shares down 8 percent in extended trading.

  • April 23- Texas Instruments Inc reported a 3 percent rise in first-quarter revenue due to strong growth in its analog chip business and improved demand for its chips used in cars, appliances, computers and industrial products. TI forecast earnings of 55 cents- 63 cents per share on revenue of $3.14 billion- $3.40 billion for the second quarter.

  • April 23- E* Trade Financial Corp reported a higher-than-expected quarterly profit on Wednesday, helped by a surge in customer trading activity and a big drop in money set aside for bad loans. Net income at the discount brokerage company nearly tripled to $97 million, or 33 cents per share, in the first quarter, from $35 million, or 12 cents per share, a year earlier.

  • NEW YORK, April 23- Texas businessman Sam Wyly told jurors on Wednesday he relied on the advice of his former lawyer in determining whether he needed to disclose stock holdings in offshore trusts at the center of a fraud case brought by the U.S. Securities and Exchange Commission.

  • US STOCKS-Wall St snaps six-day run; Apple to split stock Wednesday, 23 Apr 2014 | 5:19 PM ET

    *AT&T falls after results, but Boeing rallies. *Amgen drags biotech lower, but Gilead gains. NEW YORK, April 23- U.S. stocks dipped on Wednesday to snap a six-session winning streak as gains in Boeing and Gilead were offset by slides in AT&T and the wider biotech sector.

  • NEW YORK/ WASHINGTON, April 23- A former accounting manager for Nvidia Corp has settled with the U.S. Securities and Exchange Commission over allegations he leaked non-public information about the chipmaker that allowed a group of Wall Street analysts to make millions through illegal trades, the SEC announced on Wednesday.

  • Shares of the company, whose customers include AT&T Inc and Verizon Communications Inc, rose about 3 percent in extended trading. AT&T has estimated capital expenditure of about $21 billion for this year, while Verizon has said it expected to spend about $17 billion.

  • SAN FRANCISCO, April 23- Apple Inc has approved another $30 billion in share buybacks till the end of 2015 and authorized a rarely seen seven-for-one stock split, addressing calls to share more of its cash hoard while broadening the stock's appeal to individual investors.

  • TEXT-New Zealand cenbank raises OCR to 3 pct Wednesday, 23 Apr 2014 | 5:11 PM ET

    WELLINGTON, April 24- The Reserve Bank today increased the OCR by 25 basis points to 3 percent. New Zealand's economic expansion has considerable momentum, with GDP estimated to have grown by 3.5 percent in the year to March. Growth is gradually increasing in New Zealand's trading partners, but inflation in those economies remains low.

  • WELLINGTON, April 24- New Zealand's central bank raised its benchmark cash rate by 25 basis points to 3.00 percent on Thursday, as expected, and said there would be further increases to keep on top of inflation pressures in the strongly-growing economy. New Zealand's 3.0 percent official cash rate compares with Australia's 2.50 percent, the U.S.

  • The group, Digital 4th, on Wednesday launched www.notwithoutawarrant.com, a website urging the public to lobby the White House to support sweeping changes to federal privacy laws proposed in Congress in 2013..

  • SINGAPORE, April 24- The next hacker playground: the open seas- and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet.

  • TOKYO, April 24- For Japanese billionaire Masayoshi Son, who wants to build the world's largest mobile Internet company, criticism of his operations from regulators in his home market could not come at a worse time.

  • White House considers bank experts for Fed board -sources Wednesday, 23 Apr 2014 | 4:58 PM ET

    WASHINGTON, April 23- The White House is weighing candidates with community banking backgrounds to fill gaps on the Federal Reserve's powerful but depleted board, according to sources familiar with the efforts.

  • April 23- LPL Financial Holdings Inc, one of the five biggest U.S. broker-dealers, reported a 3 percent fall in quarterly profit as operating expenses ballooned to almost $1 billion. The company's net income slipped to $53.1 million in the first quarter ended March 31 from $54.7 million. On a per share basis, earnings were flat at 51 cents.

  • OTTAWA, April 23- Canada will require that older rail cars used for carrying crude oil be phased out by May 2017, the government said on Wednesday, moving ahead of the United States to ban the controversial cars in light of burgeoning oil-by-rail traffic and a deadly accident last year.

  • Cheesecake Factory says weather hits profit, shares fall Wednesday, 23 Apr 2014 | 4:51 PM ET

    LOS ANGELES, April 23- Cheesecake Factory Inc on Wednesday reported quarterly profit that fell from a year ago, due to severe winter weather, a holiday shift and costs associated with the pending settlement of a legal claim.