Latest Business News Wires - Business Headlines


  • Feb 4- Standard& Poor's owner McGraw Hill Financial Inc posted a better-than-expected quarterly profit as it earned more from its financial information and indexes businesses. The company's net income from continuing operations fell to $173 million, or 62 cents per share, in the quarter, from $190 million, or 67 cents per share, a year earlier.

  • Agco profit jumps as demand from Europe rises Tuesday, 4 Feb 2014 | 8:26 AM ET

    Feb 4- Farm machinery maker Agco Corp reported a 36 percent increase in quarterly profit as strong sales in Europe offset weakness in South America.

  • LONDON, Feb 4- Britain's Financial Conduct Authority said it plans to keep a close watch on commodities warehousing to ensure that reforms in storage policies by the London Metal Exchange and NYSE Liffe are carried out effectively.

  • Average pay and benefits, including bonuses, at Goldman Sachs fell 4 percent in 2013 from the year before, though it still paid more than major rivals. Morgan Stanley 55,794 $291,734 +6.6% 85.7% Deutsche Bank 98,275 125,373 eur -8.7% 87.2%.

  • Feb 4- Boston Scientific Corp on Tuesday reported higher-than-expected quarterly earnings on higher sales of its implantable devices that manage irregular heart rhythms. Boston Scientific forecast 2014 earnings of 75 cents to 80 cents a share, excluding special items, on revenue of $7.3 billion to $7.5 billion.

  • Feb 4- Cisco Systems Inc and Google Inc said they had entered into a long-term patent cross-licensing agreement covering a broad range of products and technologies. The cross-licensing agreement is an effective way to help prevent unnecessary patent lawsuits, the companies said in a statement.

  • The company spent more than $400 million in the fourth quarter to write down the value of its xpedx distribution business, which is being combined with Bain Capital-backed Unisource Worldwide Inc and is expected to be spun off as a publicly traded company this year.

  • *Michael Kors shares soar after results. *International Paper profit nearly doubles. *Equities in Japan and Seoul fell to multi-month lows overnight and Europe followed suit, weighed further by earnings disappointment.

  • TOKYO, Feb 4- Hitachi Ltd, Japan's largest electronics conglomerate, raised its full-year earnings forecast on Tuesday, putting it on course to break through a 23- year-old profit record as the automotive and construction sectors boosted its earnings.

  • Sirius, controlled by John Malone's Liberty Media Corp, added 411,484 net self-pay subscribers in the fourth quarter, resulting in a record subscriber base of 21.1 million at the end of the year. Net income fell to $65.2 million, or 1 cent per share, in the quarter ended Dec. 31, from $156.2 million, or 2 cents per share, a year earlier.

  • Global carmakers are still banking on emerging economies including India, the world's sixth biggest auto market by volume, to drive long-term growth despite a recent slowing in demand.

  • SAO PAULO, Feb 4- Brazilian industry advanced slightly in 2013 though December's figures came in far worse than expected as capital goods output plunged, suggesting one of the weakest parts of Brazil's economy could stay that way for some time. Industrial production in Brazil advanced 1.2 percent in 2013, government statistics agency IBGE said on Tuesday.

  • CAPE TOWN, Feb 4- The chief executive of Kumba Iron Ore, a unit of Anglo American, said he expected South Africa to grant a key mining licence for the company's expansion programme by the end of the first half of the year.

  • Boston Scientific earnings up on heart devices Tuesday, 4 Feb 2014 | 7:40 AM ET

    Feb 4- Boston Scientific Corp on Tuesday reported higher fourth-quarter earnings on stronger sales of its implantable devices that manage irregular heart rhythms. The medical device maker said it had earned $108 million, or 8 cents a share, compared with $60 million, or 4 cents a share, a year earlier.

  • Feb 4- U.S. auto dealer Asbury Automotive Group Inc posted a better-than-expected quarterly profit as an improving economy and easier availability of loans encouraged more Americans to buy cars. Asbury, which gets most of its revenue from sales of luxury cars made by BMW, Mercedes-Benz, Honda and Nissan, said it sold 10 percent more new cars in the fourth quarter.

  • Feb 4- Michael Kors Holdings Ltd reported a better-than-expected rise in quarter results and raised its sales and profit forecast for the year as the demand for its trendy handbags, watches and accessories showed no sign of slowing.

  • LONDON, Feb 4- Britain's Virgin Atlantic Airways will halt operations between Sydney and Hong Kong from May 5 because the route is no longer profitable, the company said on Tuesday.

  • CHICAGO, Feb 4- CME Group Inc reported higher quarterly earnings on Tuesday as the exchange operator's average daily trading volume rose 11 percent from a year earlier. Net profit in the fourth quarter rose to $193.1 million, or 58 cents a share, from $166.8 million a year earlier, or 50 cents a share. Revenue increased to $687 million from $660.9 million.

  • Feb 4- U.S. agricultural processor Archer Daniels Midland Co on Tuesday said fourth quarter earnings fell 27 percent, largely due to charges relating to its failed acquisition of Australian grain handler GrainCorp.

  • The company, formerly known as McGraw-Hill Cos Inc, said net income fell to $173 million, or 62 cents per share, in the fourth quarter, from $190 million, or 67 cents per share, a year earlier.