Latest Business News Wires - Business Headlines


  • May 16- Solar panel maker Canadian Solar Inc forecast much lower-than-expected quarterly revenue as it expects to recognize most of the revenue from its solar projects in Canada and the United States later in the year.

  • *Wheat unchanged, still on track for sharp fall this week. PARIS/ SINGAPORE, May 16- Chicago corn traded nearly flat on Friday, hovering near a seven-week low hit in the previous session as forecasts for improved weather in the U.S. grain belt boosted expectations that farmers will make rapid planting progress.

  • FOREX-Lower U.S. yields hurts dollar; euro struggles Friday, 16 May 2014 | 7:27 AM ET

    LONDON, May 16- The dollar extended losses against the yen on Friday, trading near two month lows and putting it on course for its biggest weekly losses since early April as softer U.S. As a result, the dollar traded at 101.385 yen, close to a two-month low of 101.31 yen set on Thursday, with some Asian central banks cited as sellers.

  • US STOCKS-Futures lower, on track for down week Friday, 16 May 2014 | 7:26 AM ET

    *J.C. Penney soars in premarket after results. *Verizon shares up in premarket on Berkshire stake. In a sign of increased investor caution, the CBOE volatility index had its biggest one-day bounce in a little over a month on Thursday, and the spread between the spot VIX and the 3- month VIX at one point tightened to its smallest since April 15.

  • PARIS/ LONDON, May 16- French telecoms market leader Orange is in talks about a tie-up with Bouygues Telecom, France's economy minister said on Friday after two sources said the discussions could lead to Orange acquiring its smaller rival.

  • *To spend almost all working capital on South Africa mine. May 15- Canada's Ivanhoe Mines Ltd said it would not be able to advance development of two mines in the Democratic Republic of Congo this year unless it gets more funds by the end of the second quarter, sending its shares down as much as 7 percent in early trading.

  • Losses in Lisbon weigh on European shares Friday, 16 May 2014 | 7:06 AM ET

    *Portugal's PSI-20 market falls more than 2 pct. Germany's DAX, which hit a record high of 9,810.29 points on Thursday, fell 0.7 percent to 9,586.59 points while Portugal's smaller PSI-20 index underperformed with a 2.4 percent drop.

  • May 15- Canada's Ivanhoe Mines Ltd said it would not be able to advance development of two mines in Democratic Republic of Congo this year unless it gets more funds by the end of the second quarter. Kamoa is a copper deposit while Kipushi also contains zinc, lead and germanium, Ivanhoe said in its first-quarter earnings release on Thursday.

  • GANDHINAGAR, India, May 16- About a year ago Narendra Modi sat down with some of India's best and brightest to mount a "shock and awe" election campaign that a strategist likened to a one-sided U.S. military operation against Saddam Hussein's forces in the Gulf.

  • MOSCOW, May 16- Russia is ready to discuss a gas price discount for Ukraine if Ukraine pays off the $2.237 billion it owed Russia for gas as of April 1, Russian Energy Minister Alexander Novak said on Friday. "We will discuss this if they pay even the debt owed on April 1, and this was $2.237 billion," he said.

  • NEW DELHI, May 16- Opposition candidate Narendra Modi will be the next prime minister of India, with counting trends showing the pro-business Hindu nationalist and his party headed for the most resounding election victory the country has seen in 30 years.

  • LONDON, May 16- Global shares eased for a third day on Friday, on course for their longest losing streak in over a month, and yields on some lower-rated euro zone bonds rose as a gloomier economic picture in Europe led investors to shed riskier positions.

  • *Gold heads for 0.5 percent weekly increase. LONDON, May 16- Gold struggled below $1,300 an ounce on Friday, as data indicating brighter prospects for the U.S. economy reinforced views that the Federal Reserve will maintain its pace of stimulus tapering.

  • LONDON, May 16- The global sugar surplus era is coming to an end. After three straight years of big surpluses, the sugar market is heading towards a balance or a small deficit next season due to adverse weather in Brazil and Asia, higher-than-expected Chinese demand and steady growth in consumption.

  • UPDATE 4-Brent rises above $109 on Ukraine tension Friday, 16 May 2014 | 6:26 AM ET

    *Washington warns Russia of further sanctions over Ukraine. LONDON, May 16- Brent crude oil rose above $109 a barrel on Friday as tension over Ukraine kept investors on edge, although a gradual return of Libyan oil supply capped gains.

  • LONDON, May 16- Indian shares soared to new peaks on Friday after early returns suggested a resounding election victory for the pro-business BJP party, while a weak performance on Wall Street kept other emerging markets subdued.

  • *Copper on track for biggest weekly gain in 7 weeks. Since Indonesia banned the export of unprocessed nickel ores in January, prices of ore and of refined nickel have soared. In China, traders have held on to their stocks, while producers there and in Japan scramble for supplies.

  • LISBON, May 16- As Portugal's government toasts its exit from an international bailout that imposed years of austerity on its citizens, small business owner Alexandra Capelo is in no mood to join the celebrations.

  • *CEO says Russia still a key growth driver. ATHENS, May 16- Coca-Cola HBC, the world's No. 2 bottler of Coca-Cola Co drinks, posted a bigger-than-expected quarterly loss, hurt by currency losses in its Russian and Ukrainian operations. Russia, CC HBC's biggest market in terms of sales, grew by a high single digit percentage in the first quarter.

  • *Core orders data due May 18 at 2350 GMT; trade data May 20 at 2350 GMT. TOKYO, May 16- Japan's exports probably grew only at a modest pace in April from a year earlier due to weak shipments to China, a Reuters poll showed, underscoring concern that soft external demand is a growing risk to the world's third-largest economy.