Latest Business News Wires - Business Headlines


  • NEW YORK, Feb 21- The dollar fell against the euro on Friday after weak U.S. housing data stoked concerns about the American economy, but notched its first week of broad gains against a basket of major currencies in three weeks.

  • NEW YORK, Feb 21- U.S. stocks ended lower on Friday in the face of another soft reading on the economy, with the S&P 500 facing resistance as it flirts with its record high. Based on the latest available data, the Dow Jones industrial average fell 29.93 points or 0.19 percent, to end unofficially at 16,103.30.

  • WASHINGTON, Feb 21- The U.S. Securities and Exchange Commission should press ahead and complete work on rules mandated by Congress even if the courts shoot them down, Democratic Commissioner Kara Stein said on Friday.

  • LOS ANGELES, Feb 21- The worsening drought in California will for the first time force a complete cutoff of federally supplied irrigation water to most farm districts in the state's Central Valley heartland this year, the U.S. Bureau of Reclamation said on Friday.

  • Feb 21- Detroit's much-anticipated blueprint for dealing with $18 billion in debt and emerging from municipal bankruptcy requires cuts to worker pensions and even deeper cuts for bondholders, according to a plan the city filed in federal court on Friday.

  • NEW YORK, Feb 21- When big name U.S. hedge fund managers disclosed their fourth-quarter stock holdings last week, a couple of exchange-traded fund companies took particular note. Global X Funds and AlphaClone LLC both offer ETFs that mimic the stock picks of high-priced hedge funds.

  • NEW YORK, Feb 21- Citigroup Inc has been approached by Fortress Investment Group LLC and some other private equity firms about a potential deal for its consumer finance business, OneMain Financial, according to two people familiar with the situation.

  • AUSTIN, Texas, Feb 21- The U.S. central bank needs to rethink its guidance to financial markets on the future path of interest rates as its unemployment threshold is fast approaching, a top Federal Reserve official said on Friday.

  • Feb 21- The United Auto Workers filed an appeal with the U.S. government on Friday, asking it to set aside the results of an election last week where workers at a Tennessee Volkswagen plant voted not to join the union.

  • NEW YORK, Feb 21- Arabica coffee posted its biggest weekly gain in over 14 years on Friday as the drought in top producer Brazil pushed the market into overbought territory, and natural gas traded near a five-year high on bitterly cold U.S. weather forecasts.

  • WASHINGTON, Feb 21- If U.S. antitrust enforcers decide to challenge the proposed $45 billion merger of Comcast Corp and Time Warner Cable Inc, it may be because of an idea with a funny-sounding name that has been gaining currency in government offices.

  • BERLIN, Feb 21- Volkswagen plans to buy out minority shareholders of Swedish trucks division Scania for 6.7 billion euros as it aims to jump-start a stalled eight-year effort to forge Europe's biggest truckmaker.

  • NEW YORK, Feb 21- U.S. natural gas futures edged higher on Friday and rose nearly 18 percent for the week as a severely depleted storage level and projections for yet another bout of freezing weather kept cash prices above $6 per million British thermal units.

  • Feb 21- The United Auto Workers said on Friday it filed an appeal with the government over "interference by politicians and outside special interest groups" in an election last week in Tennessee where Volkswagen workers rejected the union.

  • NEW YORK, Feb 21- Investment firm G Asset Management said on Friday that it had offered to buy a 51 percent stake in either Barnes& Noble Inc or in the bookseller's Nook digital business. The little known firm said the proposal for Barnes& Noble as a whole would be for $22 per share, which would value the top U.S. bookstore chain at $1.32 billion.

  • Chicago, Dallas Fed manufacturing indexes. NEW YORK/ LONDON, Feb 21- Gold rose on Friday, notching its third consecutive weekly gain, as doubts over U.S. economic recovery helped lift bullion's safe-haven appeal.

  • *G Asset Management offers to buy Barnes& Noble or Nook stake. *Groupon shares tumble after forecasting loss. NEW YORK, Feb 21- U.S. stocks were little changed on Friday, with the S&P 500 facing resistance as it flirts with its record high, as company news dominated trading amid another soft reading on the economy.

  • Feb 21- U.S. aerospace companies are seeking permission to sell airliner parts to Iran for the first time in three decades, in a key test of the temporary relief on sanctions given under talks to curtail Iran's nuclear activities.

  • MILAN, Feb 21- Italy's Versace hopes to make a final decision on a partner to take a minority stake in the fashion house in one or two weeks, its chief executive said on Friday. Versace has been valued at 1.1 billion euros by Italy's state-backed Fondo Strategico Italiano, one of the bidders initially vying for the stake, people familiar with the situation have said.

  • LOS ANGELES, Feb 21- Dish Networks Inc Chairman Charlie Ergen said the proposed merger between Comcast Corp and Time Warner Cable Inc will cause a "seismic shift" in the media business and his company is considering how to respond. Comcast, the largest U.S. cable operator, said on Feb. 13 it had agreed to acquire Time Warner Cable in an all-stock deal for $45.2 billion.