Latest Business News Wires - Business Headlines


  • WASHINGTON, April 8- A U.S. Senate panel on Tuesday approved Timothy Massad as the next chairman of the Commodity Futures Trading Commission and two other commissioners to head the swaps and futures markets watchdog. The only nominee to draw a "no" vote, from Senator Thad Cochran of Mississippi, was Sharon Bowen, a partner at law firm Latham& Watkins in New York.

  • *Italy's FTSE MIB among worst performing stock indexes. *AB Foods drops as Suedzucker warns on sugar outlook. Among individual stocks, Associated British Foods fell 4 percent, with traders citing a read-across to the food and textile retailer's sugar business from a profit warning by German mid-cap sugar producer Suedzucker.

  • U.S. wants one trial in $5 bln fraud case vs S&P Tuesday, 8 Apr 2014 | 11:10 AM ET

    Last month, S&P proposed holding two trials, with the first focused on just 17 securities out of the roughly 160 at issue, where Citigroup Inc was alleged to have suffered losses.

  • BOSTON, April 8- Hedge fund Coatue Management plans to return as much as 35 percent of its assets to investors this summer after its $7 billion flagship ballooned in size.

  • Cocoa prices were firm ahead of the latest quarterly grind data, while sugar was higher. Arabica coffee prices hovered near a two-year high of $2.0755 per lb hit on March 11, underpinned by concern that rainfall at the end of top grower Brazil's wet season came too little too late after drought in January and February.

  • WASHINGTON/ NEW YORK, April 8- Comcast Corp's merger with Time Warner Cable Inc would not deprive consumers of TV or broadband choices and would help the two companies compete against newcomers including Google Inc and Apple Inc in the video market, Comcast told U.S. regulators on Tuesday.

  • KINSHASA, April 8- Democratic Republic of Congo has improved its business environment but plans to raise mining taxes could deter investors in a country where massive infrastructure challenges remain, the CEO of a major foreign miner said.

  • PARIS, April 8- Things are changing in France's business world. But if you think that signals the end of the Gallic sneer at "Anglo-Saxon" ways- the free-market bent of the Americans and British- last week's promotion to economy minister for the interventionist Arnaud Montebourg is a reminder that laissez-faire government remains, in France, a linguistic irony.

  • US Senate panel approves three new members to CFTC Tuesday, 8 Apr 2014 | 10:25 AM ET

    WASHINGTON, April 8- The U.S. Senate Agriculture Committee approved the nomination of Timothy Massad as the next chairman of the Commodity Futures Trading Commission, and two other commissioners for the agency overseeing swaps and futures markets.

  • SANTIAGO, April 8- Chile's mining minister told Reuters on Tuesday it expected to give state copper producer Codelco more funds this year than the state allocated the world No. 1 red-metal miner in 2013..

  • *Eli Lilly ordered to pay $3 bln in damages in Actos case. *Alcoa earnings due after the close.

  • WASHINGTON/ NEW YORK, April 8- Comcast Corp told U.S. regulators on Tuesday that its merger with Time Warner Cable Inc would not take away any TV or broadband choices for consumers.

  • *Biggest increases from Britain, UAE. The Organisation for Economic Cooperation and Development, which is considering changing its definition of what constitutes aid, said states in the Paris- based club doled out $134.8 billion last year.

  • NEW YORK, April 8- The yen strengthened on Tuesday as traders dialed back bets against it after the Bank of Japan held off on additional easing and Governor Haruhiko Kuroda offered little indication more stimulus was likely in the short term.

  • MOSCOW, April 8- Russia saw a net capital outflow of $50.6 billion by companies and banks in the first quarter of 2014, according to estimated balance of payments data published by the Russian central bank on Tuesday.

  • *NATO warns grave consequences if Russia moves into Ukraine. LONDON, April 8- Brent crude rose above $106 a barrel on Tuesday as fresh unrest in eastern Ukraine heightened tensions between Russia and the West, but hopes Libya would soon resume oil exports kept a lid on prices.

  • NEW YORK, April 8- U.S. stocks opened mostly flat on Tuesday, with the S&P 500 stabilizing after a three-session selloff as investors looked ahead to the start of corporate earnings season. The Dow Jones industrial average was down 27.81 points, or 0.17 percent, at 16,218.06. The Nasdaq Composite Index was up 4.00 points, or 0.10 percent, at 4,083.75.

  • *Defaulters Ecuador, Greece prepare bonds; Pakistan, Zambia raise 10- yr cash. *After Q1 bond issuance tops $100 bln, second wave of riskier emerging credits.

  • BRUSSELS, April 8- Ukraine's energy minister, EU officials and industry representatives held talks on Tuesday on cutting reliance on Russian gas as tension with Moscow drove home the urgency of finding alternative energy sources and supply routes.

  • TREASURIES-Prices fall before three-year note sale Tuesday, 8 Apr 2014 | 9:14 AM ET

    *Fed to buy $0.75 bln- $1 bln in TIPS. NEW YORK, April 8- U.S. "We're probably trying to make some sort of concession, we've had a decent run-up since payrolls," said Sean Murphy, a Treasuries trader at Societe Generale in New York.