Latest Business News Wires - Business Headlines


  • LONDON, Feb 6- Britain's Vodafone said it was confident a growing number of customers and the take-up of faster 4 G services would help lift its revenue, after reporting yet another poor quarter due to fierce competition in Europe.

  • PARIS, Feb 6- Alcatel-Lucent almost halved its net loss for 2013 as cost-cutting, a tweaked product offering and asset sales under Chief Executive Michel Combes began to take effect.

  • JAKARTA, Feb 6- Indonesia became the latest country on Thursday to ban the use of the Bitcoin virtual currency. Since its launch in January 2009, the digital currency has grown popular with those with doubts about using the traditional banking system. "Bitcoin and other virtual currencies are neither currency nor legal payment tools in Indonesia.

  • European shares bounce back, get earnings boost Thursday, 6 Feb 2014 | 4:29 AM ET

    LONDON, Feb 6- European equities climbed higher in cautious trading ahead of rate decisions by central banks on Thursday, with reassuring earnings results from major companies such as Alcatel-Lucent and AkzoNobel boosting their shares.

  • MUMBAI/ LONDON, Feb 6- Global pharmaceutical firms are pressuring the United States to act against India to stop more local companies producing up to a dozen new varieties of cheap generic drugs still on-patent, sources with direct knowledge of the matter said.

  • The outlook for the equity market is staying constructive, but we need to be cautious, " Gerhard Schwarz, head of equity strategy at Baader Bank. The MSCI world equity index rose 0.2 percent, while European stocks followed Asia higher by gaining half a percent.

  • STOCKHOLM, Feb 6- World No.2 truck maker Volvo will increase its job cuts to 4,400, more than double its original plan, after currency effects and the cost of launching new models muted a rise in quarterly earnings.

  • TUNIS, Feb 6- Tunisia plans to issue around $1.8 billion in new foreign bonds with guarantees from the United States and Japan, and a $435 million sukuk, this year, in major steps to help its economy to recover after its 2011 uprising.

  • *Husqvarna Q4 op loss bigger than analyst forecasts. STOCKHOLM, Feb 6- Swedish outdoor equipment maker Husqvarna pointed to improvements in its troubled U.S. operations on Thursday after reporting a bigger-than-forecast quarterly loss for the group, hit by unfavourable weather and marketing costs in Europe.

  • ZURICH, Feb 6- Credit Suisse missed expectations with a marginal uptick in fourth-quarter net profit on Thursday after increased legal costs arising from U.S. probes into alleged tax evasion and the sale of mortgage-backed bonds.

  • European shares bounce back; Alcatel surges Thursday, 6 Feb 2014 | 3:17 AM ET

    PARIS, Feb 6- European shares rose in early trade on Thursday, bouncing back from a sharp two-week selloff, with telecom gear maker Alcatel-Lucent surging 7.4 percent after posting reassuring results. The market's rebound could be limited, however, ahead of a European Central Bank meeting later in the day.

  • Feb 6- Strong gains for casino and energy stocks helped Hong Kong shares rise on Thursday from their lowest level in almost seven months as investors awaited the reopening of China markets after a long holiday. The Hang Seng Index closed up 0.7 percent at 21,423.1 points after closing on Wednesday at its lowest since July 10.

  • *Q4 core earnings per share $1.23 vs $1.16. LONDON, Feb 6- AstraZeneca expects earnings to continue to fall in 2014 as generic competition to its popular heartburn and ulcer drug Nexium takes a big bite out of U.S. profits from May. Shares in AstraZeneca fell 1 percent in early trading.

  • Russia's Yandex to open new office in Europe Thursday, 6 Feb 2014 | 3:00 AM ET

    Yandex, which leads the world's biggest search engine Google in Russia with a market share of more than 60 percent, had said that expansion beyond former Soviet countries was one of its focus areas when it floated shares in New York in 2011..

  • SYDNEY, Feb 6- Three investment consortia- two involving Gulf Arab government-owned funds- plan to lodge indicative bids for Australian state-owned toll road company Queensland Motorways Ltd on Friday, sources close to the transaction said.

  • TOKYO, Feb 6- Sony Corp stepped up efforts to turn around its unprofitable electronics operations, quitting the personal computers business and splitting its TV division into a separate unit as it warned it expects steep losses this year.

  • UPDATE 1-Loss-making Alcatel shows glimmers of hope Thursday, 6 Feb 2014 | 2:24 AM ET

    PARIS, Feb 6- Telecoms equipment maker Alcatel-Lucent saw the initial fruits of cost-cutting, a tweaked product offering, and asset sales under new chief executive Michel Combes in 2013, but still posted a large net loss for the year.

  • LONDON, Feb 6- AstraZeneca expects earnings to continue to fall in 2014 as generic competition to its popular heartburn and ulcer drug Nexium takes a big bite out of U.S. profits from May. Sales in the fourth quarter of 2013 fell 6 percent to $6.84 billion, generating "core" earnings, which exclude certain items, down 28 percent at $1.23 a share.

  • STOCKHOLM, Feb 6- World No.2 truck maker Volvo has more than doubled the number of jobs it is cutting in a drive to improve profitability to 4,400, after currency headwinds and costs for launching new models curbed a rise in quarterly earnings.

  • BANGALORE, Feb 6- The Indian rupee is now less prone to an emerging market currency sell-off due to a narrowing current account deficit and an improved outlook for the economy, a Reuters poll of foreign exchange strategists showed on Thursday.