Latest Business News Wires - Business Headlines


  • *Xero leads charge, now NZ's 2nd- biggest listed company. WELLINGTON, March 25- New Zealand technology firms are rolling into global markets, selling software to businesses that locks down mundane tasks like accounting and expenses, rather than developing slick social media apps that consumers download free of charge.

  • LONDON, March 24- Deliveries of tobacco to retailers in Australia rose slightly last year for the first time in at least five years, even after the introduction of plain packaging aimed at deterring smokers, according to industry sales figures released on Monday.

  • NEW YORK/ LONDON, March 24- Gold prices tumbled almost 2 percent to a one-month low on Monday as lingering fears that U.S. interest rates could rise in early 2015 prompted bullion investors to cash in gains made during the metal's recent rally to six-month highs.

  • LONDON, March 24- The palladium-backed exchange-traded fund due to be launched in Johannesburg by Absa Capital on Thursday has already amassed 8,600 ounces of metal to back its shares, Absa's head of exchange-traded products said on Monday.

  • RIO DE JANEIRO, March 24- Brazil is fighting against time to avoid crippling power blackouts and electricity rationing as a drought prevents the world's most water-rich nation from recharging its hydroelectric dams.

  • *Revenues rise 1.3 percent to $307 billion in 2013. LONDON, March 24- Top oil trader Vitol's revenues were flat in 2013 despite higher crude and product volumes as increased competition led to another year of single-digit growth.

  • MOSCOW, March 24- Russia's economy is barely growing, inflation is rising fast, and capital is pouring out of the country, the Economy Ministry said on Monday, a sign that international tensions around Ukraine are already inflicting severe economic costs.

  • *China's manufacturing PMI falls to 8- month low. LONDON/ NEW YORK, March 24- U.S. manufacturing growth was solid in the first quarter and a return to expansion in French business activity this month suggested a recovery was taking shape in the euro zone, though China's factory sector stuttered in the early part of 2014, surveys showed.

  • *To offer 65 million shares at $18- $21 each. *To list shares on NYSE under symbol "IMS". March 24- IMS Health Holdings Inc, backed by TPG Capital Management LP, said it expected to price its initial public offering at $18- $21 per share, valuing the healthcare information company at up to $6.97 billion.

  • *Ukraine crisis, Libya keep market focus on supply risks. NEW YORK, March 24- Brent crude oil edged higher on Monday, as supply concerns over the Ukraine crisis and turmoil in Libya outweighed weaker-than-expected Chinese data that pointed to slowing demand in the world's biggest energy consumer.

  • Momentum stocks like Tesla, Netflix slammed hard Monday, 24 Mar 2014 | 12:03 PM ET
    A Tesla S 85 electric car charges at a supercharging station on the A6 highway on January 21, 2014 near Bad Rappenau, Germany.

    U.S. stocks fell as Ukraine weighed on sentiment and pushed investors to take profits in some of the market's biggest trading favorites.

  • LONDON, March 24- Commodity trader Gunvor has reassured lenders the firm will avoid U.S. sanctions under its new ownership structure as it presses ahead with plans to raise what bankers said would be a $665 million syndicated loan.

  • *Banks in Spain, Germany fail to get opt-outs- sources. FRANKFURT, March 24- The European Central Bank's determination to subject the euro zone's largest banks to the same, rigorous checks is being tested, with countries lobbying for their banks to be treated differently and lenders asking for their workload to be eased.

  • *G7 to warn Russia of tougher sanctions if Ukraine crisis escalates. President Barack Obama sought support from European allies and China on Monday to isolate Russia over its seizure of Crimea, and Ukraine told its remaining troops to leave the region after Russian forces overran one of Kiev's last bases there.

  • *Ukraine conflict continues, Russia seizes marine base. *Nasdaq hit as trading favorites like Netflix, Tesla sink. Netflix Inc dropped 6.7 percent to $378.60, Tesla Motors shed 5.5 percent to $216.35 and Facebook Inc slid 4.4 percent to $64.25.

  • UPDATE 1-Russia's Sberbank warns of recession risk Monday, 24 Mar 2014 | 11:49 AM ET

    MOSCOW, March 24- Russia is at risk of recession as investors pull money out of the country, with growth likely to evaporate if capital outflows reach $100 billion, the head of its largest bank, state-owned Sberbank, said on Monday.

  • *Slowing growth in Germany, China weigh on some investors. NEW YORK, March 24- Global equity markets fell on Monday, rattled by Ukraine's ongoing crisis and on weak data out of China that added to worries about the global economy, while gold fell on concerns about higher U.S. interest rates and a stronger dollar.

  • WASHINGTON, March 24- The U.S. Supreme Court on Monday for the second time did not announce whether it would hear an appeal by Teva Pharmaceutical Industries Ltd in a patent fight with generic competitors over a top-selling multiple sclerosis drug.

  • European shares fall back as Crimea, China PMI weigh Monday, 24 Mar 2014 | 11:37 AM ET

    LONDON, March 24- European stocks fell on Monday, trimming last week's lofty gains as concern over events in Ukraine and China's flagging manufacturing activity pegged a key index back from the top of its recent range.

  • CARACAS, March 24- President Nicolas Maduro's government launched a new foreign exchange system on Monday, a long-awaited effort to tame Venezuela's black market for U.S. dollars and increase the flow of greenbacks to local businesses.