Latest Business News Wires - Business Headlines


  • April 29- Online designing and printing services company Vistaprint NV reported a much lower-than-expected quarterly revenue, hurt by fewer customer additions as it shifts from offering deep discounts. Vistaprint's shares fell as much as 21 percent in extended trading.

  • CARACAS, April 29- President Nicolas Maduro announced on Monday a 30 percent increase in the minimum wage and pensions to protect Venezuelans from inflation nearing a 60 percent annual rate.

  • SYDNEY, April 30- The euro nursed broad losses early on Wednesday, having been put under pressure by soft German inflation numbers while the yen stayed on the defensive ahead of a policy decision by the Bank of Japan. "A low April print would increase the likelihood of policy action next week," analysts at BNP Paribas wrote in a note to clients.

  • TOKYO, April 30- Japan's manufacturing activity contracted in April for the first time in more than a year, a survey showed on Wednesday, as companies cut production immediately following an increase in the national sales tax. Prime Minister Shinzo Abe's government raised the national sales tax to 8 percent from 5 percent on April 1 to meet rising welfare costs.

  • MEXICO CITY, April 29- America Movil, Latin America's biggest phone company, said on Tuesday that higher debt costs had pushed its first-quarter profit down by almost half as its service revenue and subscriber base showed sluggish growth.

  • LONDON/ NEW YORK, April 29- Sanofi SA is looking to sell a portfolio of mature drugs that could fetch between $7 billion and $8 billion, according to people familiar with the matter, yet another example of drugmakers trying to shed non-core assets and focus on high-growth areas.

  • SAN JUAN, April 29- Puerto Rico's governor announced a $1.4 billion cut in public spending on Tuesday as the commonwealth government agencies braced for measures that will be taken to produce the first balanced budget in years.

  • Shares of RF Micro, whose customers include Apple Inc and Samsung Electronics Co, rose about 7.5 percent in extended trading after the chipmaker also posted a better-than-expected profit for the fourth quarter.

  • SAN FRANCISCO, April 29- EBay Inc said on Tuesday that access to foreign earnings will allow the e-commerce giant to take advantage of growing opportunities in the U.S. market while also completing $5 billion in share buybacks. The company, which also reported better-than-expected earnings, will take a $3 billion non-tax charge to repatriate foreign earnings.

  • Benjamin Lawsky, superintendent of the New York state's Department of Financial Services, said, "I think... you will see results this summer" from a continuing investigation of consultants hired at the behest of regulators.

  • Consumer advocates are worried the rules would ultimately allow Internet companies like Comcast Corp or Verizon Communications Inc to create "fast lanes" on the web for traffic of content companies that pay up, potentially shutting out poorer newcomers.

  • April 29- Marriott International posted a better-than-expected quarterly profit as increased business travel boosted occupancy and allowed the company to raise room rates in North America.

  • WASHINGTON, April 29- The U.S. House of Representatives approved a bill on Tuesday that would scale back the Volcker rule to exempt a type of securities that banks want to keep on their books. Representative Andy Barr, a Kentucky Republican who introduced the bill, called it a "a bipartisan clarification that fixes a regulatory problem" in a statement after the vote.

  • NEW YORK, April 29- First Horizon National Corp will pay $110 million to resolve claims it misled Fannie Mae and Freddie Mac into buying mortgage-backed securities that later went sour, a U.S. regulator said on Tuesday. As part of the deal, First Horizon will pay $61.6 million to Fannie Mae and $48.4 million to Freddie Mac, the FHFA said.

  • OTTAWA, April 29- Bank of Canada Governor Stephen Poloz indicated on Tuesday that he remains open to the possibility of an interest rate cut and also said the Canadian dollar was still high in historical terms, despite a recent 10 percent depreciation.

  • NEW YORK, April 29- Two new defendants, Mercuria Energy Trading SA and Hess Energy Trading Co, have been added to a lawsuit accusing BP Plc, Royal Dutch Shell Plc and several other companies of conspiring to manipulate Brent crude oil prices.

  • Venezuela to crush cars, bikes to build houses Tuesday, 29 Apr 2014 | 5:44 PM ET

    CARACAS, April 29- Venezuela said on Tuesday it would start crushing abandoned cars and bicycles to provide raw materials for housing construction and supplement drastically reduced amounts of local steel.

  • *Sources say Alstom accepts 10 bln euro GE bid. *Talks not exclusive, Alstom can have talks with Siemens. Both sources said GE was not in exclusive talks with Alstom, which is set to also receive an offer from Germany's Siemens.

  • April 29- Pharmacy benefit manager Express Scripts Holding Co on Tuesday posted a lower-than-expected first-quarter profit and decreased its earnings forecast for full-year 2014, saying adjusted prescription volume would be less than it had anticipated. Express Scripts shares fell 6 percent in extended trading.

  • *U.S. keeps pressure on Iran, Ukraine tensions persist. NEW YORK, April 29- Oil prices rose on Tuesday as traders refocused on geopolitical risks from an outbreak of violence in Libya to Russia's intervention in Ukraine. June Brent crude futures settled at $108.98 per barrel, up 86 cents, or 0.8 percent, after spending much of the day above $109 per barrel.