Latest Business News Wires - Business Headlines


  • GLOBAL MARKETS-Asian shares edge up, euro pressured Tuesday, 13 May 2014 | 8:11 PM ET

    TOKYO, May 14- Asian shares inched up on Wednesday, while the euro wobbled close to five-week lows on heightened speculation of more European Central Bank stimulus next month. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent in early trading.

  • DIARY - Emerging Markets Economic Events to May 26 Tuesday, 13 May 2014 | 8:02 PM ET

    May 14- For other related diaries, please. WASHINGTON- World Bank President Jim Yong Kim and former U.S. Secretary of State Hillary Clinton participate in an event for women's empowerment in Washington- 2115 GMT.

  • *Four million animal experiments carried out in UK in 2012. LONDON, May 14- More than 70 medical bodies in Britain including Big Pharma's Pfizer, GlaxoSmithKline and AstraZeneca have signed a pledge to be more open about their use of animals in scientific experiments.

  • *PM Erdogan cancels trip to Albania after the disaster. ISTANBUL, May 13- An explosion and fire in a coal mine in western Turkey killed at least 151 miners and trapped hundreds more on Tuesday, with the death toll expected to rise in the country's worst mining accident for more than two decades.

  • NEW YORK, May 13- Ten bidders seeking to manage a new surveillance system that could track all U.S. equity trading activity have presented proposals to the exchanges overseeing the project, a source told Reuters on Tuesday, and the field should be reduced to five by September.

  • NEW YORK/ SAN FRANCISCO, May 13- Goldman Sachs Group Inc technology investment banker Anthony Noto, who helped orchestrate Twitter Inc's successful IPO in November, is leaving and joining Coatue Management, according to a source familiar with the matter.

  • *Sterling awaits BOE report and UK jobs data. SYDNEY, May 14- The euro languished at five-week lows against the dollar early in Asia on Wednesday, having come under renewed pressure as markets grew more convinced the European Central Bank would ease policy next month. The euro last traded at $1.3704, not far from the overnight low of $1.3688.

  • LONDON, May 14- Pfizer faces calls to extend its commitment to UK jobs and research to least 10 years as the U.S. drugmaker's boss prepares for a second day of questioning from lawmakers over its plan to buy AstraZeneca.

  • UK body blocks earlier use of J&J prostate cancer drug Tuesday, 13 May 2014 | 7:01 PM ET

    LONDON, May 14- Britain's healthcare cost-effectiveness agency NICE said on Wednesday that a Johnson& Johnson prostate cancer drug, originally invented in Britain, was not worth giving to patients who have yet to receive chemotherapy.

  • *Sees 2nd- qtr profit/shr $0.90- $0.97 vs est $1.16. May 13- Watches and fashion accessory retailer Fossil Group Inc forecast a much lower-than-expected profit for this quarter as costs rise.

  • May 13- Fortress Investment Group LLC is considering making a $4.7 billion bid for Stuyvesant Town-Peter Cooper Village, a Manhattan apartment complex, Bloomberg reported, citing a person familiar with the matter. MetLife sold the complex in 2007 for a record $5.4 billion to a group led by Tishman Speyer Properties LP and a real estate unit of BlackRock Inc..

  • The flurry of activity occurred at 3:49 p.m. EDT, with most of the affected stocks listed on the New York Stock Exchange, owned by IntercontinentalExchange Group Inc. The volatility caused moves of close to 5 percent in certain stocks, such as Nabors Industries Ltd..

  • Morgan Stanley hires senior Barclays executive - NYT Tuesday, 13 May 2014 | 5:53 PM ET

    May 13- Morgan Stanley has hired a senior Barclays Plc executive, the New York Times reported, citing an internal memo from the U.S. bank. Whitman, who served as the head of mergers for financial institutions at Barclays, joins the recent drain of bankers from the British company as it moves to scale down its investment banking operation.

  • TIPTON, Indiana, May 13- Fiat Chrysler Automobiles Chief Executive Officer Sergio Marchionne said the company will be much stronger than it is today at the end of his plan to sell 7 million cars by 2018, even if it misses the targets he set forth last week. long used to advertise a brand of canned and frozen vegetables produced by General Mills.

  • TPP negotiators, from countries including Canada, Australia, Mexico and Malaysia, are in Vietnam this week for another round of negotiations, and ministers will meet on May 19-20 in Singapore.

  • NEW YORK, May 13- A U.S. fund to compensate victims of Bernard Madoff's Ponzi scheme has received roughly 51,700 claims seeking to recoup more than $40 billion, totals far higher than expected, the official in charge of the fund said on Tuesday.

  • Mayors of 10 major California cities, including Los Angeles, San Diego, San Francisco and Oakland, said in the letter that a decade ago, Hollywood productions were made in cities across the state.

  • Turbulence hits batch of U.S. stocks near the close Tuesday, 13 May 2014 | 5:16 PM ET

    The flurry of activity occurred at 3:49 p.m. EDT, with most of the affected stocks listed on the New York Stock Exchange, owned by IntercontinentalExchange Group Inc. The volatility caused moves of up to about 5 percent in certain stocks, such as Nabors Industries Ltd..

  • David Burton, a tax lawyer with Akin Gump Strauss Hauer& Feld LLP, said the IRS proposal would open REIT status only to a small number of solar projects. " The IRS proposal coincided with a speech given by President Barack Obama on Friday promoting renewable energy investments as a way to address climate change.

  • CHICAGO, May 13- Smoke at an Illinois flight control center halted air traffic at Chicago airports for about three hours on Tuesday and forced hundreds of flights to be canceled, officials said.