Latest Business News Wires - Business Headlines


  • *Citigroup to pay $7 bln to settle U.S. mortgage probe. NEW YORK, July 14- U.S. stocks ended higher on Monday, with the Dow Jones industrial average hitting an intraday record, lifted by Citigroup's better-than-expected earnings and more deals in the healthcare space. Citigroup Inc shares jumped 3 percent to $48.42 and gave the S&P 500 one of its biggest boosts.

  • July 14- Online payment company MOL Global Inc, majority-owned by Malaysian billionaire Vincent Tan, filed with U.S. regulators on Monday to raise about $300 million in an initial public offering of American Depositary Shares.

  • LONDON, July 14- Oil prices ended slightly higher on Monday as traders weighed renewed violence in Libya against broader signs of a global market well-supplied with crude. Last week, North Sea benchmark Brent closed at its lowest in three months as easing tensions in Libya and Iraq mitigated fears of supply disruptions.

  • NEW YORK, July 14- U.S. stocks rose on Monday, with the Dow Jones industrial average hitting an intraday record high, lifted by strong results from Citigroup Inc and more deals in the healthcare space. The Dow Jones industrial average rose 111.67 points or 0.66 percent, to end unofficially at 17,055.48.

  • WASHINGTON, July 14- Two influential U.S. senators have asked fellow lawmakers to support demands that Iran accept tough conditions in nuclear talks, including at least two decades of inspections, before Congress would agree to ease sanctions.

  • *Wheat, corn rise from four-year lows. "The weather continues to be excellent for crop development," Sterling Smith, futures specialist at Citigroup, said in a note to clients. Chicago Board of Trade September corn futures settled 3-3/ 4 cents higher at $3.81-1/ 2 a bushel, snapping a nine-session losing streak.

  • *Concerns ease over Portugal's top bank. Yellen, who will go before the Senate Banking Committee Tuesday to deliver the latest report to Congress on monetary policy, could take a hawkish stance on raising interest rates in response to strong June jobs data, analysts and investors said.

  • TORONTO, July 14- About 900 workers at Bombardier Inc's railcar production facility in Thunder Bay, Ontario, went on strike on Monday afternoon after contract talks hit an impasse over pension changes and benefit reductions.

  • MEXICO CITY, July 14- Mexico's President Enrique Pena Nieto on Monday signed into law new rules for the telecommunications and broadcasting industries that are designed to curb the power of billionaire Carlos Slim's America Movil and broadcaster Televisa.

  • BRASILIA, July 14- Retail sales in Brazil probably dropped for a third straight month in May, as weak confidence and higher interest rates continued to hurt consumer demand, a Reuters poll showed on Monday.

  • In 2012, Ernst& Young voluntarily decided to cease performing lobbying work for SEC registrant audit clients. " "Auditor independence is critical to the integrity of the financial reporting process," said Scott Friestad, an associate director in the SEC's enforcement division.

  • LOS ANGELES, July 14- Twenty-First Century Fox Inc on Monday announced a reorganization of its television business as the network sought to push itself out of last place among the big U.S. broadcasters.

  • GlaxoSmithKline recalls painkiller in Puerto Rico Monday, 14 Jul 2014 | 3:12 PM ET

    GLAXOSMITHKLINE RECALLS PAINKILLER IN PUERTO RICO@. July 14- GlaxoSmithKline Plc recalled about 10,600 bottles of its painkiller sold in Puerto Rico after finding the packaging was not child-resistant as required by the Poison Prevention Packaging Act.

  • July 14- Pilot Flying J, the large U.S. operator of truck stops, agreed to pay a $92 million fine to resolve its criminal liability for a scheme in which employees fraudulently withheld diesel fuel price rebates from customers, the U.S. Department of Justice said on Monday.

  • But Washington sees bright side of findings. GENEVA, July 14- World Trade Organization judges said on Monday the United States broke its rules in imposing hefty duties on Chinese steel products, solar panels and a range of other goods that Washington argues enjoyed government subsidies.

  • NEW YORK, July 14- The dollar inched up against the Japanese yen on Monday but was little changed against other major currencies as investors awaited congressional testimony by Federal Reserve Chair Janet Yellen on U.S. monetary policy.

  • NEW YORK, July 14- Volume in Barclays PLC's private U.S. trading venue, also known as a "dark pool," fell by more than a third after New York's attorney general filed a lawsuit accusing the British bank of giving an unfair edge to high-speed traders, according to data released on Monday.


  • *Citigroup to pay $7 bln to settle U.S. mortgage probe. NEW YORK, July 14- U.S. stocks rose on Monday with the Dow Jones industrial average hitting a new intraday high, lifted by better than expected earnings from Citigroup and more deals in the healthcare space.

  • July 14- Kindred Healthcare Inc raised its hostile bid for a stake in Gentiva Health Services Inc, stepping up its pursuit of the home healthcare services provided by Gentiva to an aging U.S. population.