Latest Business News Wires - Business Headlines


  • LONDON, May 20- European shares and peripheral bonds buckled for a second day running on Tuesday, as political angst offset optimism over fresh support from the ECB. Coupled with recent disappointing growth data, the worry is that strong showings by Eurosceptic parties from Greece to France could derail domestic reforms.

  • WASHINGTON, May 20- The U.S. House of Representatives will vote this week on a bill that will make it easier for the Department of Veterans Affairs to fire or demote senior executives, officials said Tuesday, following allegations veterans' healthcare delays have led to preventable deaths.

  • SYDNEY, May 20- Australia's Treasury Wine Estates is betting its Penfolds brand and a cost-cutting new CEO will boost earnings and justify its decision to reject a $2.90 billion takeover offer from private equity giant Kohlberg Kravis Roberts& Co LP.

  • WASHINGTON, May 20- ConAgra Foods Inc, Cargill Inc and CHS Inc won U.S. antitrust approval on Tuesday to merge their North American flour mill operations after recently agreeing to sell four mills to a Japanese company.

  • *Doubles expected 2nd qtr charge to $400 mln for recalls. DETROIT, May 20- General Motors Co said on Tuesday it is recalling another 2.42 million vehicles in the United States, raising the number of vehicles it has recalled so far this year to more than 15 million.

  • While still rare, the deals are becoming more common, with two recently attempted transactions by Pfizer Inc and Omnicom Group Inc drawing attention to the strategy. The bill, to be introduced also in the House of Representatives, was unlikely to become law any time soon, because Congress is deadlocked on fiscal issues, policy analysts said.

  • SAO PAULO, May 20- Brazil's Embraer SA, the world's biggest maker of regional jets, signed a contract to supply 28 KC-390 cargo aircraft to Brazil's Air Force on Tuesday, a step in the country's effort to bulk up its homegrown defense industry.

  • MILAN, May 20- Italy's competition watchdog is looking into TripAdvisor to see if the influential holiday review website takes appropriate measures to avoid publishing fake opinions. In a statement on Tuesday, the watchdog said it had received complaints about TripAdvisor from consumers as well as hotel and restaurant owners.

  • UPDATE 6-Brent climbs on Libyan uncertainty Tuesday, 20 May 2014 | 12:21 PM ET

    *Libya output at 210,000 bpd; western oilfields shut. NEW YORK, May 20- Brent rose on Tuesday supported by instability in Libya while U.S. oil for June delivery edged higher as expectations for an increase in domestic stockpiles were outweighed by buying pressure on the contract's last day of trading.

  • Metro CEO sticks to plan to attend Russia conference Tuesday, 20 May 2014 | 12:16 PM ET

    DUESSELDORF, Germany, May 20- Olaf Koch, the chief executive of German retailer Metro AG, is sticking to a plan to attend an economic conference in St Petersburg hosted by Russian President Putin after other executives pulled out. Germany has close economic ties to Russia.

  • The FDA banned imports from Sun Pharma's Karkhadi plant in Gujarat state in March, but the reason for the ban was not clear at that time. In the warning letter dated May 7 and posted on the FDA website on Tuesday, the regulator said Sun Pharma failed to ensure laboratory records had complete data and that manufacturing staff had inadequate training and experience.

  • WASHINGTON, May 20- Food and grain-handling companies ConAgra Foods Inc, Cargill Inc and CHS Inc have won U.S. antitrust approval to merge their North American flour mill operations after recently agreeing to sell four mills to a Japanese company.

  • UPDATE 2-Cobham to buy U.S. firm Aeroflex for $920 mln Tuesday, 20 May 2014 | 12:04 PM ET

    *To pay $10.50 per Aeroflex share, 26 pct above Monday close. LONDON, May 20- British aerospace and defence supplier Cobham is buying U.S. communications equipment maker Aeroflex Holding Corp for $920 million, continuing its quest for commercial customers as its main defence clients cut spending.

  • SAN FRANCISCO, May 20- Facebook Inc is expanding its new video advertising service, allowing marketers to show the television-like spots to users of the social network in Britain, Brazil and five other countries, the company told Reuters.

  • NEW YORK, May 20- Microsoft Corp on Tuesday unveiled a larger but lighter version of its Surface Pro tablet as it ramps up efforts to make an impact on the mobile computing market and counter the popularity of Apple Inc's iPad and MacBook Air laptop.

  • *Italy vs Spain emerges as key pre-election trade. LONDON, May 20- Yields on the euro zone's lower-rated bonds rose on Tuesday amid concern this week's European Union elections might derail domestic economic reforms.

  • LAVAL, QUEBEC, May 20- Canada's Valeant Pharmaceuticals International said on Tuesday it will not make an all-cash bid for drugmaker Allergan Inc as many had expected last week when the company said it would improve its cash and stock offer for the Botox maker.

  • New Jersey budget gap leaves Gov. Christie few options Tuesday, 20 May 2014 | 11:53 AM ET

    May 20- New Jersey Governor Chris Christie has an $807 million problem: a revenue shortfall created partly by his own overly optimistic projections that will likely cause pain no matter how the gap is closed. On Tuesday afternoon, Christie is scheduled to provide a budget update that could include details of how to resolve the problem.

  • TAMPA, Florida, May 20- JPMorgan Chase& Co shareholders voted overwhelmingly on Tuesday to elect all of the company's directors and also endorsed its compensation to executives in 2013..