Latest Business News Wires - Business Headlines


  • NEW YORK, Feb 4- U.S. stocks ended higher on Tuesday, buoyed by encouraging earnings, as the market attempted to stabilize in the wake of its largest selloff in months a day earlier. Based on the latest available data, the Dow Jones industrial average rose 72.44 points or 0.47 percent, to end unofficially at 15,445.24.

  • SINGAPORE/ SYDNEY, Feb 5- A drought in Australia has forced ranchers in the world's third-biggest beef exporter to cull cows, stoking fears of a global beef shortage in coming years with the U.S. herd at its lowest in six decades.

  • SHANGHAI, Feb 5- In China, where higher prices mean prestige, luxury U.S. electric carmaker Tesla is taking a bold step to win over clients and cachet by curbing the markup to just half of what some of its rivals can command. In an unusual blog post last month, the firm detailed the lower-than-expected 734,000 yuan China price tag for its high-end Model S electric car.

  • TOKYO/ JAKARTA, Feb 5- Asia's central bankers are being forced to juggle their day jobs with what their governments have failed to do- steeling their economies for the hard times. India and Indonesia were first in the firing line of investors last year when the Fed's plans to scale back its $85 billion in monthly cash injections started to take shape.

  • WASHINGTON, Feb 4- Life Partners Holdings Inc and its executives were cleared by a jury late Monday on eight of 12 civil securities violations, including some fraud charges, dealing U.S. regulators another mixed ruling as they step up efforts to take cases to trial.

  • S&P cuts Puerto Rico debt to junk status Tuesday, 4 Feb 2014 | 3:48 PM ET

    Feb 4- Standard& Poor's on Tuesday cut its credit rating on Puerto Rico, dropping the cash-strapped U.S. territory's debt to junk-bond status on concern about its ability to access capital markets. S&P, which had placed Puerto Rico's rating on notice for a downgrade last month, said it now rates the Caribbean commonwealth at "BB+," one level below investment grade.

  • WASHINGTON, Feb 4- President Barack Obama on Tuesday praised a $956 billion farm bill passed by the U.S. Senate that trims food stamps for the poor, expands federal crop insurance and ends direct payments to farmers as a good compromise.

  • WASHINGTON, Feb 4- U.S. retailers speaking to a U.S. Senate panel on Tuesday bemoaned the sophistication of. In a relatively collegial hearing before the Senate Judiciary Committee, executives of retailers Target and Neiman Marcus said hackers had found ways to penetrate their best security practices.

  • WASHINGTON, Feb 4- U.S. financial regulators have formed a working group to coordinate implementation of the Volcker rule, which bans banks from proprietary trading, top regulatory officials plan to tell lawmakers on Wednesday.

  • WASHINGTON, Feb 4- A bipartisan group of U.S. lawmakers voiced support on Tuesday for the Keystone XL crude oil pipeline, and did not rule out using legislation to force the White House to approve the Canada- to- Texas project.

  • RIO DE JANEIRO/ LONDON, Feb 4- Emerging market stocks and currencies rebounded on Tuesday as investors hunted for bargains after a recent selloff, but concern about growth prospects for China and the United States will probably keep the market under pressure over the next few days.

  • FACTBOX-Some provisions of U.S. farm bill Tuesday, 4 Feb 2014 | 3:13 PM ET

    Feb 4- A U.S. farm bill was passed by the U.S. Senate on Tuesday and sent to President Barack Obama for his expected signature. The legislation, which was approved by the House of Representatives last week, will cost an estimated $956 billion over 10 years, a savings of about $16.6 billion compared with current funding, according to the Congressional Budget Office.

  • Feb 4- J.C. Penney Co Inc shares fell 10 percent on Tuesday after the struggling retailer reported a disappointing rise in comparable sales for the holiday quarter, prompting fears its business is recovering too slowly.

  • NEW YORK, Feb 4- A federal bankruptcy judge on Tuesday approved JPMorgan Chase& Co's $543 million deal to end two private lawsuits stemming from its relationship with convicted Ponzi scheme mastermind Bernard Madoff. JPMorgan will pay $218 million to resolve class-action litigation and $325 million to resolve claims brought by the trustee, Irving Picard.

  • SAO PAULO, Feb 4- Rising borrowing costs, declining defaults and an unexpected jump in loan disbursements drove record profit for Itaú Unibanco Holding SA in the fourth quarter, even after expenses at Brazil's largest private-sector bank exceeded expectations. A Thomson Reuters poll of seven analysts predicted profit of 4.144 billion reais.

  • WASHINGTON, Feb 4- The U.S. Senate gave final congressional approval on Tuesday to a nearly $1 trillion farm bill that trims food stamps for the poor, expands federal crop insurance and ends direct payments to farmers, and sent it to President Barack Obama for his expected signature.

  • Feb 4- The pain is increasing in global markets, but the likelihood of immediate relief from the Federal Reserve and the European Central Bank isn't. Data out of both China and the U.S. showed a sharp and, in the case of the U.S., unexpected, slowing in the growth of manufacturing.

  • *Fed buys $2.66 billion in notes due 2022-23. NEW YORK, Feb 4- Treasuries yields rose from three-month lows on Tuesday as pressure on stocks and emerging market assets eased, reducing safe-haven demand for U.S. government debt.

  • WASHINGTON, Feb 4- President Barack Obama's healthcare law will reduce American workforce participation by the equivalent of 2 million full-time jobs in 2017, the Congressional Budget Office said on Tuesday, prompting Republicans to paint the law as bad medicine for the U.S. economy.

  • NEW YORK, Feb 4- The U.S. government on Tuesday sold $8 billion in one-month Treasury bills at the highest interest rate since mid-October amid concerns it may not be able to raise its $16.7 trillion borrowing limit by early March. On Tuesday, the Treasury Department said it would pay dealers and investors 0.13 percent on $8 billion of its debt due on March 6.