Latest Business News Wires - Business Headlines


  • Netflix hikes U.S. subscription price by $1 a month Friday, 9 May 2014 | 11:00 AM ET

    LOS ANGELES, May 9- Netflix Inc on Friday increased the price of its most popular video streaming plan by $1 a month to $9 for new customers in the United States, the company's first price hike in its largest market in three years.

  • NEW YORK, May 9- The euro's sharp decline from a 2-1/ 2 year high against the dollar extended into Friday, a day after European Central Bank chief Mario Draghi did his best to sap the currency's strength by threatening more monetary stimulus.

  • *Co raises FY profit forecast to $0.64- $0.67/ share from $0.57- $061. May 9- Hilton Worldwide Holdings Inc raised its full-year profit forecast after increasing business and leisure travel in the United States allowed the company to charge more for its rooms in the first quarter.

  • May 9- 3 D printer maker Stratasys Ltd reported an adjusted quarterly profit that matched the average market estimate and stuck to its full-year forecast on Friday, disappointing investors who had expected better on both counts.

  • May 9- Wal-Mart Stores Inc should face a U.S. lawsuit accusing it of defrauding shareholders by concealing suspected corruption at its Mexico operations, even after learning that a damaging media report detailing alleged bribery was being prepared, a federal judge said.

  • LONDON, May 9- Trading house Mercuria reported lower core earnings and net profit for 2013, citing a tougher trading environment and higher one-off investments to help accommodate the trading business of Wall Street bank JP Morgan.

  • WASHINGTON, May 9- The United States Postal Service ended its second quarter with a net loss of $1.9 billion, as first-class mail volumes continued to tumble and the government was unable to provide relief, the agency said on Friday.

  • *Co-op Group stake in bank seen falling to 20 pct- sources. *Silver Point, Perry Capital to nominate directors. LONDON, May 9- Britain's Co-operative Group will lose more control over the Co-op Bank after the lender's latest fundraising, raising questions about whether the bank can retain customers attracted by the group's ethical image.

  • BRASILIA, May 9- Support for President Dilma Rousseff among Brazilian voters has fallen and her main rivals have gained ground, reducing her chances of a first-round victory in the Oct. 5 election, a new poll by Datafolha showed on Friday.

  • TREASURIES-Long bond adds to post-auction losses Friday, 9 May 2014 | 10:16 AM ET

    NEW YORK, May 9- U.S. "There's a little bit of profit-taking," said Kim Rupert, managing director at Action Economics in San Francisco. Thursday's 30- year auction, the last of three this week by the Treasury Department selling $69 billion of new debt, came with a high yield of 3.440 percent.

  • LONDON/ NEW YORK/ PARIS May 9- The $35 billion merger of U.S.-based Omnicom and France's Publicis collapsed on Friday after a battle for control destroyed plans to create the world's largest advertising agency. "I have not been able to convince John that balance is balance," Publicis Chief Executive Maurice Levy said of his Omnicom counterpart John Wren.

  • WASHINGTON, May 9- U.S. wholesale inventories rose more than expected in March, suggesting restocking of goods was probably less of a drag on first-quarter growth than initially thought. The Commerce Department said on Friday wholesale inventories increased 1.1 percent after rising by an upwardly revised 0.7 percent in February.

  • NEW YORK, May 9- U.S. stocks dipped at the open on Friday, setting up the Nasdaq for its largest weekly decline in a month.

  • RIO DE JANEIRO, May 9- Brazil's state-run oil company, Petroleo Brasileiro SA, will likely report a one-third drop in first-quarter profit from a year earlier, on slack output, rising costs and a weakening Brazilian currency that erased gains from a fuel-price increase.

  • May 9- Ralph Lauren Corp warned on Friday that its efforts to open more stores would erode operating profit margin at the luxury fashion house in the fiscal year through March 2015, and that sales growth would also be slower.

  • LONDON, May 9- Nickel's bull run has just gone into overdrive. On the London Metal Exchange three-month metal has gained almost $1,900 per tonne in the space of a couple of days, this morning hitting a 26- month high of $20,500.

  • LONDON, May 9- Investors may be stretching too far for higher returns in what some are terming a worldwide "Yield Grab-athon", closing their eyes to the risk of heavy potential losses when interest rates eventually drift higher.

  • *Apple reportedly close to deal for Beats Electronics. *Apple Inc is close to paying a record $3.2 billion for Beats Electronics, two people with knowledge of the matter said, an expensive foray into music streaming and headphone gear. Apple shares slipped 0.7 percent to $583.91 while Internet radio provider Pandora Media Inc lost 2.5 percent to $64.52.

  • IMF calls on Luxembourg to reform wage indexation Friday, 9 May 2014 | 9:00 AM ET

    BRUSSELS, May 9- Luxembourg has to reform its system of automatically increasing wages to match inflation, to keep its economy competitive as it diversifies away from financial services, the International Monetary Fund said on Friday.

  • WASHINGTON, May 9- The U.S. Environmental Protection Agency said it wants to gather public comment on whether it should require chemical manufacturers to disclose the content of fluids used for oil and gas production, a possible step toward greater federal oversight of hydraulic fracturing, or fracking.