Latest Business News Wires - Business Headlines


  • Both Calgary, Alberta- based CP and Canada's largest railway, Canadian National Railway Co, have been under enormous pressure to clear the backlog, which resulted from a record harvest last year and from subsequent service impairments caused by a frigid winter.

  • NEW YORK, April 22- Texas businessman Sam Wyly took the stand in his civil trial in New York on Tuesday and denied U.S. Securities and Exchange Commission claims that he and his brother used a complex network of offshore trusts to conceal years of stock trades and net $550 million in undisclosed profit.

  • U.S. EPA cuts 2013 target for cellulosic biofuel Tuesday, 22 Apr 2014 | 4:44 PM ET

    WASHINGTON, April 22- The U.S. Environmental Protection Agency on Tuesday slashed its target for 2013 use of cellulosic biofuel to less than a million gallons, after the industry failed to meet goals for production of the fuel last year.

  • April 22- Amgen Inc on Tuesday reported lower-than-expected first quarter profit as results were hurt by acquisition-related costs as well as sales of several key products that fell short of Wall Street estimates.

  • *Netflix up after results; Facebook gains on upgrade. Netflix Inc surged 7 percent to $372.90 a day after showing strong subscriber growth, a sign the trading favorite still had room to grow despite recent concerns over its valuation.

  • April 22- Gilead Sciences Inc, whose pricing policy ignited a fierce debate over prescription drug prices, said its new $1,000 hepatitis C pill generated quarterly sales of $2.27 billion, helping the company's quarterly net profit nearly triple.

  • April 22- Virtualization software maker VMware Inc reported a 14 percent rise in first-quarter revenue as more customers opted for its cloud infrastructure offering and big business clients renewed their software licenses.

  • Juniper Networks' quarterly revenue rises 10 pct Tuesday, 22 Apr 2014 | 4:15 PM ET

    April 22- Network gear maker Juniper Networks Inc's quarterly revenue rose about 10 percent as U.S. telecom carriers spent more on their networks to manage increasing data traffic. Juniper's net income rose to $110.6 million, or 22 cents per share, in the first quarter ended March 31 from $91.0 million, or 18 cents per share, a year earlier.

  • Discover Financial profit falls 6 percent Tuesday, 22 Apr 2014 | 4:14 PM ET

    April 22- Credit card issuer Discover Financial Services reported a 6 percent fall in quarterly profit, hurt by higher provision for loan losses. Net income allocated to common stockholders fell to $618 million, or $1.31 per share, in the first quarter ended March 31, from $659 million, or $1.33 per share, a year earlier.

  • AT&T revenue increases on promotional offering Tuesday, 22 Apr 2014 | 4:12 PM ET

    NEW YORK, April 22- AT&T Inc reported higher quarterly revenue on Tuesday, slightly above Wall Street's expectations, boosted by a promotional offering to bill customers for devices separately from their wireless plans.

  • Ukraine leader urges crackdown as peace eludes east Tuesday, 22 Apr 2014 | 4:08 PM ET

    *Ukraine president calls for new crackdown in east. SLAVIANSK/DONETSK, Ukraine, April 22- Ukraine's acting president accused Russia of aiding "terrorists" who killed a politician from his own party, urging a crackdown in the east on Tuesday that could hamper international efforts to defuse the crisis.

  • April 22- The U.S. Food and Drug Administration on Tuesday proposed speeding up medical device approvals for patients who have no other treatment options through a new program focused on earlier and more frequent interactions between companies and FDA staff.

  • NEW YORK, April 22- U.S. stocks rose on Tuesday as a host of solid earnings reports along with strength in the healthcare sector helped lift the S&P 500 and Nasdaq to their sixth straight advance.

  • *Brazilian soybeans sold to China head to United States. CHICAGO, April 22- U.S. corn futures jumped on Tuesday as concerns about slow planting progress helped fuel a rebound from sharp losses the previous session, while soybean futures tumbled on increased imports into the United States.

  • April 22- JetBlue Airways Corp pilots voted on Tuesday to join the Air Line Pilots Association union, opting to have a bargaining agent after rejecting unionization in two prior votes. Shares of JetBlue were down 1.9 percent to $8.59 in afternoon trading.

  • SAN FRANCISCO, April 22- Google Inc will allow marketers to run online ads that send consumers to a page directly inside a mobile app, furthering the Internet company's effort to extend its multibillion-dollar advertising business to smartphones.

  • *Biden says in Kiev that Russia must act to defuse crisis. KIEV/ MOSCOW, April 22- Ukraine's acting president Oleksander Turchinov called on Tuesday for government forces to relaunch an offensive against pro-Russian rebels after a local politician from his own party was found dead with signs of torture.

  • WASHINGTON, April 22- Former General Motors CEOs and other executives should be called to testify to the U.S. Congress about the company's slow response to defective ignition switches in cars that have been linked to at least 13 deaths, a Democratic senator said on Tuesday.

  • *Ukraine crisis lends some support to Brent. NEW YORK, April 22- U.S. crude futures fell on Tuesday ahead of data expected to show that inventories in the world's top oil-consuming nation have risen close to record highs.

  • April 22- Greenlight Capital's David Einhorn closed the firm's money-losing short position in Chipotle Mexican Grill Inc, he said in his latest letter to clients on Tuesday, though the firm has started shorting other momentum stocks that he did not identify.