Latest Business News Wires - Business Headlines


  • NEW YORK, Feb 13- U.S. stocks opened lower on Thursday, weighed by a disappointing outlook from Cisco Systems and weaker-than-expected data on consumer spending and the labor market.

  • *22 of 46 economists say threat of deflation in euro zone "somewhat serious". BANGALORE, Feb 13- The threat of deflation across the euro zone is more serious than the European Central Bank claims, as austerity imposed on peripheral economies is already pushing prices lower, a Reuters poll of forecasters found on Thursday.


  • Feb 13- Goldcorp Inc reported a quarterly loss of more than $1 billion on Thursday on the back of impairment and tax charges and other one-time expenses.


  • BRUSSELS, Feb 13- European leaders need to rebuild the unity of the European Union, badly fractured in the euro zone debt crisis, and address the worries of populist voters, Finnish Prime Minister Jyrki Katainen said on Thursday.

  • LONDON, Feb 13- European steel lobby Eurofer plans to file anti-dumping cases this year with the European Commission against exports of cold rolled stainless sheet from China and Taiwan and of electrical steel sheet from Russia.

  • CHICAGO, Feb 13- Bunge Ltd, one of the world's largest agricultural trading houses, said on Thursday it turned a profit in the fourth quarter and was "actively" reviewing its loss-making Brazilian sugar business.

  • *Cisco falls after results, outlook. *Comcast to buy Time Warner. NEW YORK, Feb 13- U.S. stocks were set for a lower open on Thursday, weighed by a disappointing outlook from Cisco Systems and weaker-than-expected data on consumer spending and the labor market.

  • *Zurich books $318 million in restructuring costs in Q4. ZURICH, Feb 13- Zurich Insurance missed profit expectations in the fourth quarter due to restructuring charges, and said the total cost of an overhaul of its business would be about $600 million- the upper end of its forecast range.

  • *RevPAR from Asia, excluding China, falls 3 pct. Feb 13- Starwood Hotels& Resorts Worldwide Inc reported fourth-quarter revenue below Wall Street's expectations, partly due to lower occupancy and room rates in Asia, excluding China.

  • Feb 13- Orbitz Worldwide Inc, an online travel agency, reported a higher-than-expected quarterly profit on Thursday as it booked more hotel stays and vacation packages. Earnings were $5.3 million, or 5 cents a share, in the fourth quarter, compared with a loss of $314.6 million, or $2.96 a share, a year earlier.

  • Toronto- based Barrick forecast its all-in sustaining costs- a measure meant to capture the effective day-to-day cost of producing an ounce of gold- would be between $920 and $980 per ounce in 2014, up from $915 in 2013..

  • Feb 13- Goldcorp Inc reported a quarterly loss of more than $1 billion on Thursday due to impairment charges, deferred tax charges and other one-time items. The Vancouver- based miner said its net loss in the fourth quarter was $1.1 billion, or $1.34 a share.

  • Feb 13- Avon Products Inc said on Thursday it may cost as much as $132 million to settle a U.S. bribery investigation into the beauty products company's efforts to develop new markets overseas.

  • U.S. retail sales drop unexpectedly in January Thursday, 13 Feb 2014 | 8:44 AM ET

    WASHINGTON, Feb 13- U.S. retail sales fell unexpectedly in January, and another gauge of consumer spending also slipped. The Commerce Department said on Thursday retail sales fell 0.4 percent last month, led by a drop in automobile sales. Sales fell by a revised 0.1 percent in December.

  • U.S. jobless claims rise in latest week Thursday, 13 Feb 2014 | 8:35 AM ET

    WASHINGTON, Feb 13- The number of Americans filing new claims for unemployment benefits rose last week, government data showed Thursday. Initial claims for state unemployment benefits rose to a seasonally adjusted 339,000 from 331,000 the week before, the Labor Department said.

  • TORONTO, Feb 13- Telus Corp, one of Canada's biggest telecom companies, posted a 13 percent rise in fourth-quarter profit on Thursday and set ambitious targets for 2014, helped by expansion in both its wireless and fixed-line businesses.

  • Feb 13- Discovery Communications Inc' quarterly profit rose higher-than-expected as advertising revenue in its international networks more than doubled. Media companies such as Discovery make money from advertising on their cable networks and from fees paid by companies such as Comcast Corp and DirecTV to carry their channels.

  • PARIS, Feb 13- BNP Paribas, France's biggest listed bank, has set aside $1.1 billion for a possible fine for breaching U.S. sanctions on countries including Iran, the latest bank to take a hit to profit from a legal investigation.