Latest Business News Wires - Business Headlines


  • *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.

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

  • *Job losses of 28,900 versus forecast of 12,000 gain. *Unemployment rate steady at 6.9 pct. OTTAWA, May 9- Canada's economy lost 28,900 jobs in April, Statistics Canada said on Friday in a report that revealed across-the-board weakness, confirming the labor market is stalled and adding jobs at a more sluggish pace than in the United States.

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


  • May 9- Goldman Sachs Group Inc disclosed on Friday that it was being investigated over its hiring practices outside the United States. The Wall Street Journal reported earlier this week that the U.S. Securities and Exchange Commission had expanded its probe into the hiring practices of at least five U.S. and European banks in Asia, including Goldman.

  • COPENHAGEN, May 9- Danish wind turbine maker Vestas made an unexpected return to profit in the first quarter, with a big rise in orders suggesting its turnaround drive is gaining traction.

  • LONDON, May 9- U.S. drugmaker Pfizer is under fire on both sides of the Atlantic as it weighs its next move to buy British rival AstraZeneca, which could be a sweetened offer next week.