Latest Business News Wires - Business Headlines


  • SINGAPORE, Aug 12- Gold was stuck in a narrow range above $1,300 an ounce on Tuesday after falling a day earlier as equities gained ground, with investors appearing to set aside for now geopolitical worries concerning Ukraine. *Gold has gained about 9 percent this year, largely on tensions between the West and Russia over Ukraine, and violence in the Middle East.

  • SYDNEY, Aug 12- Asian shares edged higher on Tuesday tracking rallies in the United States and Europe as investors seemed to put aside geopolitical concerns, at least for the moment. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 percent after jumping 1.5 percent on Monday.

  • SEOUL, Aug 12- U.S. crude oil slipped below $98 a barrel on Tuesday in early Asian trade but the fall was capped by expectations of further draws in U.S. crude inventory. *Brent fell 10 cents at $104.58 a barrel after settling 34 cents lower at $104.68 a barrel.

  • SEJONG, South Korea, Aug 12- South Korea will double the daily price movement limit on stocks listed on the main board for the first time in nearly 16 years, in new measures the government unveiled on Tuesday to boost service businesses.

  • DIARY - Top economic Events to Aug 25 Monday, 11 Aug 2014 | 8:01 PM ET

    WAKEFIELD, Canada- Canadian Finance Minister Joe Oliver will hold an annual two-day policy retreat in Wakefield to discuss with industrialists, analysts and others where they think the economy is heading.

  • WASHINGTON, Aug 11- Detroit's largest union said on Monday that the city's historic bankruptcy proceedings have given the management of the water and sewer department opportunities to disrupt bargaining units and strip union members of job protections.

  • In tech hiring case, a new player at the table Monday, 11 Aug 2014 | 7:46 PM ET

    SAN FRANCISCO, Aug 11- It's not often that a judge decides to blow up a settlement worth hundreds of millions of dollars because it is too low, but San Francisco attorney Daniel Girard convinced one Silicon Valley jurist to do exactly that.

  • Aug 11- Mobile service provider NII Holdings Inc, reporting its ninth quarterly loss in a row, said on Monday it may have to file for bankruptcy after struggling to compete in Brazil and Mexico. The company, which operates in Latin America under the Nextel brand, ended the second quarter with a net debt of $4.8 billion and with $1 billion in cash and investments.

  • FOREX-Dollar stalls as geopolitical storm quietens Monday, 11 Aug 2014 | 7:16 PM ET

    *G3 currencies off to a flat start in Asia. SYDNEY, Aug 12- The U.S. dollar started trade in Asia on Tuesday in familiar territory, holding flat after a listless session overnight void of any meaningful economic data or market-moving events. In Ukraine, NATO warned Russia against using humanitarian help as a pretext for an invasion.

  • Aug 11- Hedge fund ValueAct Capital LLC said it had taken a $1 billion stake in Rupert Murdoch- controlled film and TV company Twenty-First Century Fox Inc.. Fox withdrew its $80 billion bid to buy Time Warner Inc last week after being rebuffed by the owner of CNN, HBO and Warner Bros studios.

  • SACRAMENTO, Calif., Aug 11- All smartphones sold in California would have to come with a "kill switch" to render them inoperable if lost or stolen under a bill passed by the legislature on Monday, the latest effort to stem an epidemic of phone theft in the most populous U.S. state.

  • UPDATE 2-Nuance 4th-qtr forecast misses expectations Monday, 11 Aug 2014 | 7:08 PM ET

    Aug 11- Speech recognition software maker Nuance Communications Inc forecast current-quarter adjusted revenue and profit below expectations as the company continues to struggle from its transition to a subscription-based business model.

  • Lawyers pitch to lead GM ignition-switch cases Monday, 11 Aug 2014 | 6:52 PM ET

    NEW YORK, Aug 11- Lawyers from across the United States gathered in Manhattan Monday to jockey for leadership roles in litigation against General Motors over a faulty ignition switch that has prompted the recall of millions of vehicles.

  • DETROIT, Aug 11- Consumer Reports, which last year gave top marks to electric carmaker Tesla Motors Inc's Model S sedan, now says the car it owns has had "more than its share of problems." Its 2013 Model S was purchased for $89,650 in January of that year. The base version of the Model S starts at around $70,000.

  • SEATTLE, Aug 11- The head of Boeing Co's defense, space and security business said on Monday that nearly two-thirds of the $6 billion in cost cutting the unit is undertaking will come from savings found in its network of suppliers. Boeing already has cut $4 billion in costs from the defense unit, which has annual sales of $33 billion.

  • Aug 11- Standard Chartered Plc will soon begin sifting through a mountain of data for signs of possible money laundering or other criminal activity, as a result of faults in the software critical to its anti-money laundering compliance program, two sources with knowledge of the matter said.

  • WASHINGTON, Aug 11- A U.S. senator from Alaska concerned about salmon fishing and tourism urged the State Department in a letter released on Monday to help ensure that Canadian metal mines are safe after a major spill of waste into waterways near the Alaska border.

  • Aug 11- Juice maker Cutrale and investment firm Safra Group said on Monday they had offered to acquire U.S.-based Chiquita Brands International Inc in a $610.5 million cash deal that rivaled an all-stock agreement with Irish tropical fruit company Fyffes Plc. The combined market value of Chiquita and Fyffes is currently close to $1 billion.

  • MEXICO CITY, Aug 11- Mexican President Enrique Pena Nieto on Monday signed a package of laws that will serve as a rule book for comprehensive energy reform designed to lure billions of dollars in investment to the country's ailing oil, gas and electricity sectors.

  • Houston- based Kinder Morgan Inc, the biggest U.S. pipeline company, said it will consolidate into a single corporation, folding together its existing organization of several master limited partnerships. The Treasury statement, sent in an email, came in answer to questions from Reuters following Kinder Morgan's news.