Latest Business News Wires - Business Headlines


  • LONDON, March 20- Investment banks must take tough decisions to quit ailing business areas and should reduce their balance sheets by $1 trillion- or almost a tenth- to lift profitability, an industry report said.

  • The halt announced on Thursday was for enrollments in a trial sponsored by Mayo Clinic, and comes a week after the FDA ordered Geron to cease company-sponsored trials of the drug over similar concerns. The FDA on March 12 had ordered a complete halt to trials that were testing imetelstat to treat thrombocythemia and multiple myeloma, two forms of blood cancer.

  • *Yellen signals rate hikes might come sooner than expected. LONDON, March 20- Top-rated euro zone debt underperformed peripheral bonds on Thursday in a broad sell-off triggered by the U.S.

  • *Mining output to rise in Australia, Colombia, South Africa. "As global output is now set to expand, we believe the supply overhang will persist and revise our forecast for Newcastle coal lower to $74 per tonne as an average for 2014, down from $82 per tonne previously," Bank of America Merrill Lynch said in a research note on Thursday.

  • *China's yuan skids to its lowest in a year. LONDON, March 20- The dollar hit three-week highs against a basket of currencies and stocks and bonds fell across the globe on Thursday as investors positioned for a speedier rise in U.S. interest rates than previously thought.

  • FOREX-Dollar surges after strong message from Fed Thursday, 20 Mar 2014 | 8:08 AM ET

    *China's yuan deepens slide, hits one-year low. LONDON, March 20- The dollar powered higher against its major currency peers on Thursday after a surprise message from Federal Reserve head Janet Yellen that rises in U.S. interest rates were not as far away as most had thought.

  • WASHINGTON, March 20- Germany is the world's most efficient exporter and importer, the World Bank said on Thursday. In its latest trade logistics score card, the World Bank ranked seven European economies among the top 10, along with the United States, Singapore and Japan.

  • *PetroChina posts 21 pct yr-yr rise in Q4 net profit; 2013 profit up 12 pct. producer PetroChina Co Ltd said on. "Last year marked a turning point for PetroChina," Chairman Zhou Jiping told reporters after the company posted a 21 percent rise in fourth quarter net profit, largely due to government hikes in natural gas prices and an improvement in its refining business.

  • March 20- Premier Farnell Plc, a distributor of electronic devices and components, reported an 8.4 percent rise in full-year pretax profit, helped by higher-than-expected sales in China, India and eastern Europe in the second half of the year. "The real stars for us were India and China...

  • LONDON, March 20- Britain's financial watchdog said on Thursday it had fined former Credit Suisse bond trader Mark Stevenson 662,700 pounds, in its first enforcement action for manipulating the 7.2 trillion pound UK government bond market.

  • US STOCKS-Futures edge lower following Fed comments Thursday, 20 Mar 2014 | 7:41 AM ET

    *Ukraine in view as Russia seizes naval bases. NEW YORK, March 20- U.S. stock index futures were lower on Thursday as investors continued to digest recent comments from Federal Reserve Chair Janet Yellen, who raised the specter of an earlier-than-expected rate hike.

  • From cranes to chemists, investors weigh UK shale bets Thursday, 20 Mar 2014 | 7:30 AM ET

    LONDON, March 20- From trucks and cranes to chemists and trains, the supply chain winners from the U.S. shale boom have often been surprisingly simple. Now investors and executives are eyeing businesses that might benefit from a boom in Britain.

  • Australia's Senate rejects carbon tax repeal bill Thursday, 20 Mar 2014 | 7:29 AM ET

    March 20- The Australian government's efforts to scrap the country's carbon tax were defeated in a Senate vote on Thursday, though the bill is likely to return after July when more Liberal senators take their seats.

  • CAIRO/ DUBAI, March 20- After Egypt's new finance minister took office last month, one of his first acts was to downgrade the government's assessment of its finances. He was acknowledging what may become the biggest threat to Egypt's economic recovery after years of political turmoil: a rising public debt burden.

  • BRUSSELS, March 20- Influential European lawmakers backed a package of nearly 500 million euros in annual trade benefits for Ukraine on Thursday, opening the way for duty-free Ukrainian exports into the European Union from late April.

  • RUSTENBURG, South Africa, March 20- As South Africa's biggest post-apartheid mine strike marks its eighth week on Thursday, it is already denting growth and export earnings, and many of those affected are having to sell their most prized possessions to make ends meet.

  • OSLO, March 20- Norwegian car carrier Hoegh St. Petersburg has reached the area in the southern Indian Ocean off Australia where two floating objects, suspected to be debris from the missing Malaysian jetliner, were spotted, the ship's owner said on Thursday.

  • MOSCOW, March 20- Russia will not bail out companies who may face financial difficulties, Finance Minister Anton Siluanov said, as business owners worry about the impact of western sanctions over the government's moves to annex Crimea.

  • MOSCOW, March 20- President Vladimir Putin said on Thursday Russian companies must be registered in Russia and have a transparent ownership structure, emphasising one of his main messages that business should be brought back home. The European Union warned of ramping up punitive measures against Russia, including politically sensitive economic sanctions.

  • *EU leaders to discuss Russia, Ukraine, energy at two-day summit. BRUSSELS, March 20- European leaders hold critical talks on Thursday about how to tighten the screws on Russia following its seizure of Crimea, how to support Ukraine's stricken economy and how best to wean themselves off Russian oil and gas in years to come.