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Latest Business News Wires - Business Headlines

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  • WASHINGTON, May 8- The number of Americans filing new claims for unemployment benefits fell more than expected last week, indicating the labor market was strengthening despite a run-up in applications in prior weeks.

  • LONDON, May 8- The Bank of England kept interest rates at a record low on Thursday but the strong pace of Britain's economic recovery and a surge in house prices is likely to lead to a split among policymakers soon.

  • May 8- China's JA Solar Holdings Co Ltd posted a first-quarter profit, compared with a year-earlier loss, driven by higher demand for its panels in Japan and Europe. The company posted a net profit of $13.7 million, or 23 cents per American depositary share, in the quarter ended March 31, compared with a net loss of $33.3 million, or 85 cents per ADS, a year earlier.

  • Cheetah Mobile IPO raises $168 mln Thursday, 8 May 2014 | 8:23 AM ET

    May 8- China- based Cheetah Mobile Inc's initial public offering raised about $168 million after its shares were priced at $14, near the top end of the expected price range. The company sold 12 million American Depositary Shares, which were expected to be priced between $12.50 and $14.50 per ADS.

  • May 8- Dean Foods Co, the largest U.S. dairy processor, reported a quarterly loss, as milk costs rose and a severe winter in the United States hurt supply. Net loss attributable to Dean Foods was $9 million, or 9 cents per share, in the first quarter ended March 31 compared with a profit of $493 million, or $5.30 per share, a year earlier.

  • Changes aimed at making $700 trillion market safer. LONDON, May 8- Banks should get a breathing space of a few months to adjust to coming new rules on the clearing of derivatives deals, a top European Union regulator proposed on Thursday. The global derivatives market is worth around $700 trillion, with London and New York the biggest centres.

  • Biota says U.S. agency terminates funding for flu drug Thursday, 8 May 2014 | 8:14 AM ET

    May 8- Biota Pharmaceuticals Inc said a U.S. agency has terminated funding for the development of its influenza drug. The company said the Biomedical Advanced Research and Development Authority, in charge of developing countermeasures against public health emergencies, did not provide a reason for the withdrawal of support.

  • LONDON, May 8- The euro rose to a two-month high against the dollar on Thursday after the European Central Bank kept interest rates unchanged, as expected, with investors now waiting to see if President Mario Draghi ramps up warnings about a strong currency.

  • May 8- Auto parts maker Visteon Corp reported a 7 percent rise in quarterly revenue as higher vehicle production boosted sales of its climate control products. Visteon did not give its own estimate on Thursday, but said higher production, particularly in Asia Pacific and Europe, boosted sales of its climate control products in the first quarter ended March 31.

  • BRUSSELS, May 8- The European Central Bank left interest rates unchanged on Thursday, waiting for updated forecasts from its staff in June before deciding whether to take fresh action to counter low inflation that ticked up last month.

  • BRUSSELS, May 8- The European Central Bank left its main interest rate unchanged at a record low of 0.25 percent on Thursday, holding off fresh policy action while it waits to see whether a tick up in inflation last month gains traction.

  • *Priceline climbs after results, Tesla tumbles. *Priceline Group Inc shares advanced 2.9 percent to $1,164 before the opening bell after the online travel agency reported a 36 percent rise in quarterly profit and gave its second-quarter forecast.

  • MANILA, May 8- Standard& Poor's raised the Philippines' credit rating to two notches above investment grade on Thursday, the first debt watcher to do so, saying reforms are likely to continue beyond the administration of President Benigno Aquino.

  • *Nintendo planning lower-priced console for new markets. TOKYO, May 8- Nintendo Co Ltd plans to introduce a new gaming system for emerging markets such as China as early as next year, as the company hunts for fresh opportunities after the flop of its Wii U console.

  • *Nigeria hosting World Economic Forum for Africa. Speaking at the World Economic Forum being hosted in the capital Abuja, Jonathan thanked foreign nations including the United States, Britain, France and China for their support in trying to rescue the girls, who were kidnapped from a secondary school on April 14.

  • May 8- China's JA Solar Holdings Co Ltd posted a first-quarter profit, compared with a year-earlier loss, driven by higher demand for its panels in Japan and Europe. The company posted a net profit of $13.7 million, or 23 cents per American depositary share, in the quarter ended March 31, compared with a net loss of $102.4 million, or 85 cents per ADS, a year earlier.

  • Higher auto production boosts Visteon's revenue Thursday, 8 May 2014 | 7:17 AM ET

    May 8- Auto parts maker Visteon Corp reported a rise in quarterly revenue as higher vehicle production boosted sales of its climate control products. Revenue in the business rose by $40 million to $1.3 billion in the first quarter ended March 31. Total revenue rose 7 percent to $1.98 billion.

  • "All China's support for Africa will come with no political strings attached," Li said, speaking at the World Economic Forum on Africa being held in the Nigerian capital Abuja. "We will not interfere with Africa's internal affairs or ask something impossible of Africa," he added.

  • May 8- Priceline Group Inc, owner of the online travel agency known for its "name-your-own-price" services, reported a 36 percent rise in quarterly profit, as hotel and car rental bookings increased. The company's net income rose to $331.2 million, or $6.25 per share, in the first quarter ended March 31 from $244.2 million, or $4.76 per share, a year earlier.

  • 'Walking Dead' lifts AMC Networks quarterly revenue Thursday, 8 May 2014 | 7:12 AM ET

    May 8- Cable TV network AMC Networks Inc reported a 37 percent jump in quarterly revenue as more people watched the fourth-season finale of its popular show "The Walking Dead". The company's net income rose to $71.4 million, or 98 cents per share, in the first quarter ended March 31 from $61.5 million, or 85 cents per share, a year earlier.