Latest Business News Wires - Business Headlines


  • FRANKFURT, Feb 12- A loss of trust in Switzerland's business and political elite may be one of the reasons the alpine nation voted in favour of putting strict limits on immigration, Swiss Economy Minister Johann Schneider-Ammann said on Wednesday.

  • Through the online platform, Fresno, California- based OnFarm is looking to raise $400,000 in capital to grow a farm data software service, AgFunder said.

  • WASHINGTON, Feb 12- The International Monetary Fund's board on Wednesday said Portugal was on track with the conditions of its bailout program, and gave the euro zone country about 910 million euros. Portugal has so far gotten about 25 billion euros of the 26.9 billion euros the Fund pledged over three years to help Lisbon deal with a debt crisis, the IMF said.

  • WASHINGTON, Feb 12- The U.S. Congress approved legislation on Wednesday to increase the country's debt limit for a year, bowing to President Barack Obama's demands for a debt limit increase without any conditions after a dramatic Senate vote.

  • WASHINGTON, Feb 12- Defense Secretary Chuck Hagel is expected to preview the Pentagon's fiscal 2015 budget request on Feb. 24, a week before the White House sends its formal budget plan to Congress, according to sources familiar with the matter.

  • CHICAGO, Feb 12- Kroger Co, the biggest U.S. supermarket operator, faces a lawsuit claiming it deceived consumers by marketing a store brand as humanely raised chicken products when the animals were raised under standard commercial farming.

  • Feb 12- Real estate website operator Zillow Inc reported better-than-expected quarterly revenue and earnings as a recovering U.S. housing market boosted subscriptions. Zillow, which gets most of its revenue from subscriptions to its website from real estate agents, said the number of paid subscribers rose 64 percent to 48,314 in the fourth quarter.

  • *Procter& Gamble drags on Dow, S&P 500 after outlook. *TripAdvisor rallies after results; Lorillard, Intuit fall.

  • Feb 12- MetLife Inc, the largest U.S. life insurer, reported a better-than-expected nine-fold rise in quarterly profit, helped by lower claims and a smaller loss on its derivatives program.

  • Feb 12- Whole Foods Market Inc lowered its 2014 sales and profit forecast on Wednesday for the second time after first quarter revenue missed Wall Street expectations because of growing competition in the fresh and organic foods market.

  • UPDATE 1-Nvidia's fourth-quarter revenue beats Street Wednesday, 12 Feb 2014 | 4:51 PM ET

    SAN FRANCISCO, Feb 12- Nvidia Corp on Wednesday posted higher fourth-quarter revenue that beat expectations, fueled by the graphics chipmaker's PC gaming and GPU business, even as it grapples with an expansion beyond computers and into mobile devices.

  • Feb 12- Dow Chemical Co's "lack of transparency" makes it difficult to determine whether the petrochemical giant should be split up or kept together, hedge fund titan Daniel Loeb said on Wednesday.

  • Feb 12- An independent advisory panel to the U.S. Food and Drug Administration said a blood clot preventer developed by The Medicines Co should not be approved due to a lack of data to prove its efficacy. The panel voted 7-2 against approving the drug, cangrelor, for use during angioplasty- a heart surgery for widening narrow or clogged arteries.

  • Feb 12- Real estate website Zillow Inc reported a 70 percent rise in quarterly revenue as a recovering U.S. housing market boosted subscriptions. Net income rose to $2.7 million, or 6 cents per share, in the fourth quarter, from $549,000, or 2 cents per share, a year earlier. Zillow said paid subscriptions rose 64 percent to 48,314 in the quarter ended December.

  • US STOCKS-S&P 500's four-day rally ends on P&G's outlook Wednesday, 12 Feb 2014 | 4:34 PM ET

    *Procter& Gamble drags on Dow, S&P 500 after outlook. *TripAdvisor rallies after results; Lorillard, Intuit fall.

  • *Cushing sees 2.6 mln barrel draw- EIA. NEW YORK, Feb 12- U.S. oil settled at a four-month high on Wednesday supported by expectations that one-time landlocked oil at the U.S. contract's benchmark delivery point would continue to flow to Gulf Coast refineries after government data showed a large drain in supplies there.

  • UPDATE 1-Syndication, streaming deals lift CBS profit Wednesday, 12 Feb 2014 | 4:29 PM ET

    LOS ANGELES, Feb 12- CBS Corp recorded higher profit for the quarter that ended in December, boosted by the syndication of hit shows including "Hawaii Five-O" and "Blue Bloods" and new digital streaming deals.

  • *Gold breaks above trend line with more gains seen. NEW YORK/ LONDON, Feb 12- Gold prices ended little changed on Wednesday on profit-taking after rising to a three-month high near $1,300 an ounce underpinned by technical buying and hopes that the Federal Reserve will continue its measured tapering of bond purchases.

  • OTTAWA/ TORONTO, Feb 12- Finance Minister Jim Flaherty, freshly armed with C $500 million to subsidize Canada's auto sector, signaled on Wednesday the federal government might offer substantial cash to keep Chrysler Group from closing an Ontario minivan plant.

  • Senate postpones Yellen hearing as snow nears Wednesday, 12 Feb 2014 | 4:02 PM ET
    Fed Reserve Chair Janet Yellen before the House Financial Services Committee.

    The U.S. Senate Banking Committee said on Wednesday that it postponed Thursday's hearing with Federal Reserve Chair Janet Yellen.