Latest Business News Wires - Business Headlines


  • LIMA, March 12- Peru is talking with Brazilian construction giant OAS about resuming construction on a $4 billion hydroelectric plant that has been stalled since 2011 because of local opposition, an official said on Wednesday. An OAS representative in Peru said by telephone that the company did not have any comment.

  • WASHINGTON, March 12- The United States and Japan made some progress on resolving a deadlock over tariffs on farm and industrial exports which is dragging on a wider Pacific trade deal, a senior Japanese official said on Wednesday.

  • BEIJING, March 13- China's civil aviation chief said on Thursday that there was no proof that floating objects in the South China Sea seen by satellite images were connected to a missing Malaysia Airlines aircraft. "Chinese satellites have found smoke and floating objects...

  • SEOUL, March 13- South Korea's central bank kept interest rates steady for a 10th straight month on Thursday, as expected, as it eyes offshore risks and a slow domestic economic recovery amid low inflationary pressures. The Bank of Korea's monetary policy committee held its base rate steady at 2.50 percent, a media official said without elaborating.

  • Brazil's president faces revolt by coalition allies Wednesday, 12 Mar 2014 | 9:00 PM ET

    BRASILIA, March 12- The rift between President Dilma Rousseff and her main political allies widened on Wednesday one day after they voted in Congress to look into bribery allegations leveled at Brazil's state-run oil company Petrobras.

  • SINGAPORE, March 13- U.S. crude futures held steady at around $98 a barrel in early Asian trade on Thursday, after plunging more than 2 percent in their biggest drop in two months overnight as investors turned their focus to the unfolding geopolitical crisis in Ukraine.

  • The Highway Trust Fund, which receives money from a federal tax on every gallon of gasoline and diesel fuel sold in the United States, is expected to become insolvent by 2015..

  • Markets have been seesawing all week amid uncertainty about a standoff in Ukraine and weakness in the Chinese economy, although copper rebounded from earlier losses on Wednesday and Wall Street ended little changed as investors stuck to the sidelines.

  • SINGAPORE, March 13- Gold was trading near its highest level in six months on Thursday as investors sought to hedge their bets against geopolitical tensions in Ukraine and economic slowdown fears in China.

  • TOKYO, March 13- Japan's core machinery orders rose in January at the fastest pace in almost a year, rebounding from a record decline in the previous month, in a positive sign that long-dormant business investment will start to accelerate and contribute to the broader economy.

  • DIARY - Top economic Events to Mar 25 Wednesday, 12 Mar 2014 | 8:01 PM ET

    Treasury Secretary Jack Lew testifies on the White House fiscal 2015 budget proposal before the House Budget Committee- 1400 GMT.

  • Japan Jan core machinery orders jump 13.4 pct mth/mth Wednesday, 12 Mar 2014 | 7:55 PM ET

    TOKYO, March 13- Japan's core machinery orders jumped 13.4 percent in January, rebounding from a record fall in the previous month, in a positive sign that business investment is poised to pick up. The month-on-month rise was much faster than a 7.0 percent increase forecast by economists, according to the median from a Reuters poll.

  • Mexico originally forecast growth of 3.5 percent in 2013 before cutting it step by step to just 1.3 percent. Revilla said stronger U.S. growth and more robust government spending in Mexico would aid the economy in 2014, despite weak U.S. demand for Mexican exports early this year due to a winter chill that hit manufacturers north of the border.

  • March 12- Citigroup Inc has reduced the annual compensation of high-ranking executive Manuel Medina-Mora following problems with controls against money laundering at the Mexico subsidiary he oversees.

  • Empire, owner of Sobeys, reports nil quarterly profit Wednesday, 12 Mar 2014 | 7:30 PM ET

    March 12- Empire Co Ltd, the operator of Canadian grocery chain Sobeys, reported a steep fall in quarterly profit, hurt by higher inventory losses and higher costs due to a weaker Canadian dollar. Net earnings fell to C $40,000, or nil Canadian cents per share, in the third quarter, ended Feb 1, from C $74.1 million, or C $1.09 per share, a year earlier.

  • KUALA LUMPUR/ PHU QUOC, Vietnam, March 13- M alaysia's military has traced what could have been the jetliner missing for almost five days to an area south of the Thai holiday island of Phuket, hundreds of miles to the west of its last known position, the country's air force chief said on Wednesday.

  • Chevron is especially opposed to a part of the bill, known as AB 32, that starting next year would require all California distributors of transportation fuels to purchase carbon permits to cover emissions from automobiles, a cost the Boston Consulting Group, in a study on behalf of the oil industry, estimates could exceed $3.7 billion.

  • WASHINGTON, March 12- A federal judge on Wednesday reversed a jury finding that Life Partners Holdings and its executives were liable on one count of fraud, dealing a blow to U.S. securities regulators.

  • March 12- The number of U.S. cattle deaths that may be linked to the Merck& Co Inc feed additive Zilmax are much higher than the figures reported by the drug company to the federal government, according to a research study published on Wednesday.

  • *Swiss franc& yen well bid as China worries fester. *China industrial production and retail sales data eyed. "We expect modest downside surprises, which are likely to keep sentiment toward China somewhat negative," analysts at Barclays Capital wrote in a note to clients.