Latest Business News Wires - Business Headlines


  • Exelon Corp to buy Pepco Holdings for $6.83 bln Wednesday, 30 Apr 2014 | 6:12 AM ET

    April 30- Nuclear power producer Exelon Corp said it would buy Pepco Holdings Inc for $6.83 billion to create the biggest Mid-Atlantic electric and gas utility.

  • BRUSSELS, April 30- Euro zone inflation rose in April, reducing chances the European Central Bank will act soon to ward off potential deflation, although it was below forecast and still within the ECB's "danger zone" of under 1 percent.

  • *Yuan has shed 3.3 pct against the dollar in 2014. SHANGHAI, April 30- China's yuan fell again on Wednesday, at one point touching an 18- month low, posting its fourth straight month of losses, which have erased of all of last year's gain. In Wednesday afternoon trading, the currency hit a trough of 6.2676 versus the dollar, weakest since 6.2756 touched on Oct. 16, 2012.

  • GENEVA, April 30- Guinea's President Alpha Conde said on Wednesday that he would strongly welcome a bid by Vale for re-allocation of mining permits, stating that the Brazilian miner had not been involved in the corruption that led to their cancellation.

  • LONDON, April 30- Nickel prices inched higher on Wednesday, on track to post their biggest monthly gain in 19 months, on tight supplies from Indonesia and fears of sanctions on top refined producer Russia. Three month nickel on the London Metal Exchange rose 1 percent to $18,350 a tonne at 0927 GMT.

  • *IMF cuts Russia 2014 growth forecast to 0.2 percent. MOSCOW, April 30- The International Monetary Fund has cut its 2014 growth forecast for Russia and expects capital outflow of $100 billion this year, the Fund's mission chief to Moscow said on Wednesday.

  • FRANKFURT, April 30- Germany's Robert Bosch expects sales growth of between 3 and 5 percent this year, even as the automotive supplier shifts its focus toward Asian markets and developing internet-connected sensors.

  • VADODARA, India, April 30- India's Hindu nationalist Narendra Modi looked triumphant after voting on Thursday in the seventh stage of the world's largest election, but the man tipped to be the next prime minister is still not assured of winning an outright majority.

  • ZURICH, April 30- Brazilian-Swiss private bank J. Safra Sarasin has agreed to buy Morgan Stanley's Swiss private banking unit, beefing up its business with the wealthy in the Middle East and Latin America.

  • *Asset prices in Dubai soar with economic recovery. RAS AL KHAIMAH, United Arab Emirates, April 30- W hen French wine and cognac bottle maker Saverglass decided to expand three years ago, it chose a relatively remote, less affluent location in the United Arab Emirates for its plant rather than the business hubs of Dubai and Abu Dhabi.

  • *BOJ keeps monetary policy unchanged as widely expected Maintains upbeat economic, inflation forecasts in report.

  • Euro zone April inflation rises less than expected Wednesday, 30 Apr 2014 | 5:00 AM ET

    BRUSSELS, April 30- Euro zone inflation nudged above 2009 lows in April but fell short of economists' predictions despite increased spending at Easter, leaving the threat of deflation hanging over the European Central Bank. April's reading takes inflation back to where it was in February but it is well below 1.2 percent of April 2013.

  • *Events in Ukraine, Iran watched. LONDON April 30- Oil fell towards $108 per barrel on Wednesday pressured by an improving supply outlook with stocks in the United States expected to be at a record high and optimism about higher exports from Libya.

  • FRANKFURT, April 30- Daimler's first-quarter operating profit more than doubled as surging sales of new cars and improving margins in its Mercedes-Benz luxury autos division extended its recent recovery.

  • LONDON, April 30- The root of the problems which led to the near collapse of Britain's Co-operative Bank lay in its 2009 takeover of the Britannia Building Society and poor management controls, an independent review commissioned by the bank concluded.

  • *China's yuan on track for fourth monthly loss. LONDON, April 30- The euro and the currency bloc's government bonds yields inched lower on Wednesday as investors waited on euro zone inflation data that, if weak, would increase pressure on the European Central Bank to act when it meets next week.

  • LONDON, April 30- Royal Dutch Shell reported on Wednesday a jump in first-quarter cashflows and a boost in dividends, triggering a jump in the share price as the market cheered the new chief executive's turnaround plan.

  • UPDATE 2-Qatari fund buys UK's Heritage Oil for $1.6 bln Wednesday, 30 Apr 2014 | 4:20 AM ET

    LONDON, April 30- British oil company Heritage Oil agreed a 924 million pound takeover offer from a fund owned by the former chief executive of Qatar's sovereign wealth fund. Its suitor, Al Mirqab Capital, is the private investment vehicle of Qatar's Sheikh Hamad Bin Jassim Bin Jabor Al Thani and his family.

  • LAUNCESTON, Australia, April 30- First it was oil refining and now it's petrochemicals getting a reality check in China. In recent months China has seen a slew of delays and cancellations to oil refinery and petrochemical projects, as the full impact of slower economic growth, pollution concerns and foreign competition hits home.

  • UPDATE 1-Spain's economy grows at fastest pace in 6 years Wednesday, 30 Apr 2014 | 4:13 AM ET

    MADRID, April 30- Spain's gross domestic product rose at its fastest quarterly pace in six years in the first quarter while inflation accelerated, in the latest sign the country's economy is picking up steam after years of recession.