Latest Business News Wires - Business Headlines


  • WASHINGTON, Feb 7- U.S. officials wrongly advised coal companies when they leased federal land in a flawed program costing taxpayers millions of dollars, according to an independent review of the U.S. Interior Department.

  • Feb 7- This has got to have been a frustrating jobs report for Janet Yellen and her colleagues at the Fed. For stock market and other risky asset investors hoping for more stimulus it may turn out even worse. U.S. payrolls rose by 113,000 in January, with only paltry revisions to the previous month's disappointing 75,000 total.

  • Armstrong's comments on Thursday during a company town hall about why it was cutting 401 contributions caused a fire storm on social media overshadowing positive quarterly results from AOL and marked the second recent instance when a gaffe by Armstrong left the CEO with some explaining to do.

  • WASHINGTON, Feb 7- U.S. job creation slowed sharply over the past two months, turning in the weakest performance in three years and raising the prospect that the economy may be losing momentum. The Jekyll and Hyde report from the Labor Department on Friday whipsawed U.S. markets in early trade.

  • *S&P says Turkey at risk of hard economic landing. ISTANBUL, Feb 7- Standard& Poor's cut its outlook on Turkey's ratings to negative from stable on Friday, saying that it saw risks of a hard economic landing and that the country's policy environment was becoming less predictable.

  • MEXICO CITY, Feb 7- In a major leadership shakeup for Mexican oil giant Pemex, just as the ailing state-run energy sector is being pried open, exploration and production chief Carlos Morales has resigned, CEO Emilio Lozoya said in a tweet on Friday.

  • NEW YORK, Feb 7- Mary Mack, who last month became head of Wells Fargo Advisors, the second largest U.S. brokerage firm, has reorganized the sprawling strategy group she ran before her promotion.


  • ON BOARD AIR FORCE ONE, Feb 7- Syngenta AG, the world's largest crop chemicals company, has commitments to sell its entire supply of a genetically modified corn variety that is not approved by China, U.S.

  • *Gold on track for best weekly gain in five weeks. NEW YORK/ LONDON, Feb 7- Gold rose on Friday after data showed U.S. job creation slowed sharply over the past two months, fueling speculation that slowing economic momentum will force the Federal Reserve to keep its current stimulus.

  • NEW YORK, Feb 7- A Texas man accused of creating an underground online drugs marketplace called Silk Road will face trial in November. Prosecutors say that Ulbricht owned and operated Silk Road, which they allege sold drugs and criminal services in exchange for the digital currency bitcoin.

  • WASHINGTON, Feb 7- The U.S. Postal Service narrowed losses in its latest quarter, as a surge in online shopping and package delivery boosted revenues during the busy holiday season. The Postal Service has been grappling with tumbling mail volumes as Americans communicate more online, and as massive payments for its future retirees' health benefits take a toll.

  • *Tighter North Sea supplies support Brent. NEW YORK, Feb 7- Oil rose by more than $1 to one-month highs on Friday, fueled by a sharp rally in gasoline and heating oil as supplies tightened and refiners started to shut down plants for maintenance.

  • MEXICO CITY, Feb 7- In a major leadership shakeup for Mexico's national oil company Pemex, the company's exploration and production chief Carlos Morales has resigned, the company's CEO Emilio Lozoya said in a tweet on Friday.

  • Feb 7- The U.S. Chamber of Commerce on Friday called on the government to ratchet up pressure on India over intellectual property rights, in a move that could help prevent Indian companies from producing cheap generic versions of medicines still under patent protection.

  • The four publishers that have agreed to the deal include Lagardere SCA's Hachette Book Group Inc; News Corp's HarperCollins Publishers LLC; CBS Corp's Simon& Schuster Inc, and Verlagsgruppe Georg von Holtzbrinck GmbH's Macmillan. Last year, a U.S. District Court judge ruled that Apple Inc had conspired with five major publishers to raise e-book prices.

  • *Apple leads market higher on buyback boost. *Online travel agencies' shares jump after Expedia results. NEW YORK, Feb 7- U.S. stocks climbed on Friday, setting the S&P 500 on track for its first weekly gain in four as a weak reading on the labor market was partly blamed on the weather and traders focused on expectations of further economic strength.

  • WASHINGTON, Feb 7- The U.S. Justice Department will close its investigation into Samsung Electronics' use of a special class of essential patents to attack rivals but said it would continue to monitor related patent litigation.

  • PARIS, Feb 7- By referring a complaint against the European Central Bank's bond-buying policy to the European Court of Justice, Germany's constitutional court has sidestepped a crucial dispute over who has ultimate authority in the European Union.