Latest Business News Wires - Business Headlines


  • LONDON/ TRIPOLI, Aug 19- Libya is due to start loading its first crude oil tanker from top port Es Sider on Tuesday following a year-long blockade by eastern federalists, a Libyan oil official and trading sources said.

  • LAC-MÉGANTIC, Quebec, Aug 19- The Canadian government did not adequately audit the rail firm at the center of the Lac-Mégantic crude tanker disaster that last year killed 47 people, an independent federal agency said on Tuesday, as it called for tougher scrutiny of the rail industry.

  • Aug 19- Medtronic Inc Chief Executive Omar Ishrak defended his company's plan to acquire Dublin- based Covidien Plc in a so-called inversion deal, saying the medical device maker will be able to create more U.S. jobs while still paying substantial taxes once the transaction closes.

  • Citi tells court its Argentina banking license at risk Tuesday, 19 Aug 2014 | 12:27 PM ET

    NEW YORK, Aug 19- Citigroup has told the U.S. appeals court overseeing the dispute between Argentina and hedge funds refusing to accept terms of the country's debt restructuring that its Argentine banking license may be at risk as a result of the standoff. Citi expects to receive about $5 million from Argentina ahead of its next coupon payment deadline of Sept. 30.

  • Aug 19- Citigroup Inc is considering the sale of its retail-banking business in Japan, the Wall Street Journal said on Wednesday, citing people familiar with the matter. Citigroup is considering a possible auction for the sale, the Journal reported.

  • UPDATE 1-GameStop CEO undergoes surgery for brain tumor Tuesday, 19 Aug 2014 | 12:05 PM ET

    Aug 19- GameStop Corp, the world's largest retailer of videogame products, said Chief Executive Paul Raines underwent an unexpected surgery last week for a small cancerous brain tumor. GameStop also said the six-week treatment period will not interfere with Raines' "continued leadership" of the company.

  • GM expands website for owners of recalled vehicles Tuesday, 19 Aug 2014 | 12:05 PM ET

    DETROIT, Aug 19- General Motors Co's website for owners of its vehicles recalled for faulty ignition switches has been expanded to include all 20 models involved, the automaker said.

  • Depositors at troubled Corpbank protest across Bulgaria Tuesday, 19 Aug 2014 | 12:01 PM ET

    SOFIA, Aug 19- Hundreds of angry depositors at Bulgaria's Corporate Commercial Bank staged protests in Sofia and several other cities on Tuesday, demanding access to their accounts that have been frozen since the bank was shut down in June.

  • NEW YORK, Aug 19- Hitachi Metals Ltd, a producer of specialty steel and automotive parts, said on Tuesday it would acquire Waupaca Foundry Inc, the world's largest iron castings provider, from buyout firm KPS Capital Partners LP for $1.3 billion in cash. Hitachi Metals, which is listed in Tokyo, has a market capitalization of $7.3 billion.

  • Gross domestic product losses are projected at 12.6 percent for the Maldives, 9.9 percent for Nepal, 9.4 percent for Bangladesh and 8.7 percent for India by 2100.. Bangladesh, Bhutan, India, Nepal and Sri Lanka will lose 2 percent, 1.4 percent, 1.8 percent, 2.2 percent, and 1.2 percent, respectively, by 2050..

  • *Capital Economics sees copper falling to $6,500 by year end. "The upward move is likely being helped by tightness in the nearby spreads in aluminium, helping to deter fresh shorts and triggering some short-covering activity," analyst Leon Westgate at Standard Bank said in a note. Copper prices, however, dipped on concerns over the potential for excess supply.

  • NEW YORK, Aug 19- Brent crude prices fell to a 14- month low on Tuesday, giving up early gains as recovering Libyan output, sustained Iraqi production and weak demand offset concerns about threats to supply.

  • Aug 19- Home Depot Inc, the world's largest home improvement chain, said it expected same-store sales to grow faster in the second half of the year as customers furnish new houses and renovate existing ones in a recovering housing market.

  • CAIRO, Aug 19- Egypt's Suez Canal Authority announced on Tuesday that a Bahrain- registered firm is to develop a huge industrial and logistics hub around the canal, but gave no details of the project itself.

  • TREASURIES-U.S. yields up on robust housing data Tuesday, 19 Aug 2014 | 11:13 AM ET

    NEW YORK, Aug 19- U.S. I think we'll be relatively rangebound, "said Thomas Simons, money market economist at Jefferies LLC in New York. "I think people are realizing that inflation is, at least for now, stabilized and heading back to a more normal level and not accelerating," said George Goncalves, head of rates strategy in the Americas at Nomura Securities in New York.

  • LAC-MEGANTIC, Quebec, Aug 19- The Canadian government did not adequately audit the rail company at the center of last year's Lac-Megantic oil-by-rail disaster in which 47 people died, the Transportation Safety Board of Canada said on Tuesday.

  • NEW YORK, Aug 19- Private equity firm Apax Partners LLP is exploring a sale of U.S. healthcare information technology company TriZetto Corp, hoping to fetch as much as $3 billion including debt, according to people familiar with the matter.

  • LONDON, Aug 19- Sterling hit a four-month low against the dollar and a near two-month trough versus the euro on Tuesday after weaker-than-expected inflation data eased pressure on the Bank of England to raise interest rates. Consumer prices rose 1.6 percent on the year in July, the Office for National Statistics said.

  • Aug 19- Activist investor Orange Capital LLC said it would ask oil and gas company Bellatrix Exploration Ltd to consider strategic alternatives after it became the largest shareholder in the Canadian company. Bellatrix's shares rose as much as 7.6 percent after New York- based Orange Capital reported a 5.3 percent in the company.

  • UPDATE 1-Carillion sweetens merger offer for Balfour Tuesday, 19 Aug 2014 | 10:55 AM ET

    LONDON, Aug 19- British construction firm Carillion on Tuesday raised for the third time its merger proposal for engineering company Balfour Beatty, with new terms that value its rival at 2.1 billion pounds.