Latest Business News Wires - Business Headlines


  • LONDON, Feb 19- Gold edged down on Wednesday as investors reaped profits after a rally to 3-1/ 2 month highs and as the dollar steadied ahead of the Federal Reserve's minutes of its January meeting, while Asian physical buying subsided.

  • MOSCOW, Feb 19- Lukoil, Russia's No.2 oil producer, posted $7.8 billion in net profit in 2013, missing forecasts and down from $11 billion the previous year after the company wrote off losses from some assets.

  • Deutsche Bank eyes Jain replacement - report Wednesday, 19 Feb 2014 | 6:10 AM ET

    FRANKFURT, Feb 19- Deutsche Bank is considering John Cryan, the former finance chief of UBS AG, as a potential replacement for co-Chief Executive Anshu Jain should he be implicated in an ongoing investigation into currency manipulation, a German magazine reported on Wednesday.

  • Obama to sign order seeking to speed up export approvals Wednesday, 19 Feb 2014 | 6:00 AM ET

    WASHINGTON, Feb 19- President Barack Obama will sign an executive order on Wednesday that will attempt to speed from days to minutes how quickly small businesses gain U.S. government approval for exports or imports.

  • TOKYO, Feb 19- Japan will fast-track the restart of some nuclear reactors, the regulator said on Wednesday, potentially breaking a logjam that has kept the country without nuclear power in the wake of the 2011 Fukushima disaster.

  • LONDON, Feb 19- Copper was broadly flat on Wednesday as concerns about the demand outlook in top consumer China were offset by a weaker dollar and near-term tightness in stocks. Copper prices have slipped more than 2.5 percent this year as China battles with structural reform, and as a harsh winter in the United States has held back economic growth.

  • MOSCOW, Feb 19- The Russian finance ministry said on Wednesday it cancelled its weekly auction of OFZ treasury bonds due to lack of demand, underscoring a turn for the worse on Russia's volatile financial markets. On the secondary market, Russia's 2028 OFZ treasury bond was yielding 8.51 percent on Wednesday.

  • GLOBAL MARKETS-Stock buyers hesitant; euro holds gains Wednesday, 19 Feb 2014 | 5:24 AM ET

    LONDON, Feb 19- Hesistant share investors kept a wary eye on interest rates in China while the euro left the dollar in its wake on Wednesday after soft U.S. economic data argued against any rapid withdrawal of Federal Reserve stimulus.

  • U.S. oil pipe tariff ruling hits western manufacturers Wednesday, 19 Feb 2014 | 5:14 AM ET

    PARIS, Feb 19- Shares in seamless steel tube makers Tenaris and Vallourec tumbled on Wednesday after U.S. trade authorities decided not to impose tariffs on the South Korean imports that compete with their products.

  • *Jan BOP deficit $4.48 bln, widest based on cbank records back to 1999. MANILA, Feb 19- The Philippines posted a record balance of payments deficit of $4.48 billion in January, when it saw its biggest-ever net portfolio outflows due to an emerging market rout, data from the central bank showed on Wednesday.

  • PARIS, Feb 19- PSA Peugeot Citroen plans to build new cars and expand in Asia under a French-backed rescue deal agreed with China's Dongfeng, the carmaker said on Wednesday, as it posted a $3.2 billion loss that underscores the scale of the task ahead.

  • *Social unrest in Venezuela adds to jitters. LONDON, Feb 19- Brent oil held above $110 a barrel on Wednesday, underpinned by geopolitical concerns in Africa and Venezuela while a fresh bout of freezing weather kept U.S. crude near a four-month high. An unusually cold winter in North America has sapped heating oil supplies in the United States and buoyed prices.

  • LONDON, Feb 19- Ukrainian assets tumbled on Wednesday as a renewed wave of violence hit the capital Kiev, adding pressure on Russia's rouble which was at an all-time low to the euro.

  • China budget carrier Spring eyes $3 bln A320 order Wednesday, 19 Feb 2014 | 4:29 AM ET

    SINGAPORE, Feb 19- Chinese low-cost carrier Spring Airlines is set to make an order for up to 30 Airbus A320 aircraft worth $3 billion at list prices, the company's chairman told Reuters. The airline hopes to divide the order between the current model of the Airbus A320 and the re-engined A320neo, Wang Zhenghua said in an interview in Singapore.

  • Tenaris leads pullback in overbought European shares Wednesday, 19 Feb 2014 | 4:27 AM ET

    *Tenaris, Vallourec pummelled by U.S. imports tariff report. LONDON, Feb 19- European shares edged lower on Wednesday, led by Italy's Tenaris, as investors took profits on overbought indexes, although buoyant updates from Carlsberg and Lafarge helped limit market losses.

  • BEIJING, Feb 19- China will expand the yuan trading band in an orderly way and quicken convertibility on the capital account, the central bank said on Wednesday, reaffirming its long-standing stance. In a statement published on its website, www.pbc.gov.cn, the People's Bank of China also said it would steadily expand cross-border yuan usage.

  • *Abu Dhabi property market recovery as fast as Dubai's. ABU DHABI, Feb 19- For years, Abu Dhabi's real estate market has paled next to its more dynamic, glamorous rival in neighbouring Dubai. Prime residential sale prices in Abu Dhabi jumped 25 percent and rentals climbed 17 percent in 2013, real estate advisory firm Jones Lang LaSalle estimated.

  • BEIJING, Feb 19- China will expand the yuan trading band in an orderly way and quicken convertibilty on the capital account, the central bank said on Wednesday.

  • European shares steady; Peugeot surges Wednesday, 19 Feb 2014 | 3:21 AM ET

    PARIS, Feb 19- European shares were steady in early trade on Wednesday, underpinned by strong gains in PSA Peugeot Citroen after the French carmaker announced a partnership with a Chinese rival. But Peugeot dominated, rising 8 percent as traders cited short-covering on the stock following the 3 billion euro capital tie-up with China's Dongfeng.

  • Hong Kong shares reach their highest close since Jan 23 Wednesday, 19 Feb 2014 | 3:11 AM ET

    HONG KONG, Feb 19- Hong Kong shares inched up, reaching their highest close since Jan. 23, as investors awaited a key China manufacturing survey due out on Thursday. The Hang Seng Index ended up 0.3 percent to 22,664.52. The China Enterprises Index of the top Chinese listings in Hong Kong was flat.