Latest Business News Wires - Business Headlines


  • UPDATE 1-GE in talks to buy France's Alstom - Bloomberg Wednesday, 23 Apr 2014 | 6:11 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.

  • *First-quarter adjusted earnings $0.69/ share vs est. April 23- LPL Financial Holdings Inc, one of the five biggest independent U.S. broker-dealers, reported a lower-than-expected quarterly profit as operating expenses ballooned to almost $1 billion.

  • April 23- Angie's List Inc, which operates a website that allows users to review local businesses, posted a smaller quarterly loss as it signed up more paid customers for its services. Angie's List shares rose nearly 10 percent to $14 in extended trading, after the company also forecast second-quarter revenue above analysts' estimates.

  • CHICAGO, April 23- Detroit's future once it exits the biggest municipal bankruptcy in U.S. history will depend on oversight, the city's chief financial officer said on Wednesday.

  • NEW YORK/ WASHINGTON, April 23- A former lawyer with the American Bankers Association is being considered by the White House as a possible nominee to the board of the Federal Reserve, according to sources familiar with the efforts.

  • WELLINGTON, April 24- New Zealand's central bank raised interest rates on Thursday and signalled that it would keep tightening monetary policy in the coming months as the central bank tames inflation pressures which have been brewing as the country's economy strengthens.

  • NEW YORK, April 23- The board of the Port Authority of New York& New Jersey on Wednesday delayed a scheduled vote on whether to provide $1.2 billion in loan guarantees to World Trade Center developer Larry Silverstein, the latest holdup for the project.

  • SAN FRANCISCO, April 23- Zynga Inc co-founder Mark Pincus is relinquishing the last of his operational duties at the social gaming company starting on Wednesday and retreating to an advisory role as Chief Executive Officer Don Mattrick pushes through a restructuring plan.

  • 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.

  • 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.

  • 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.

  • 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.