Latest Business News Wires - Business Headlines


  • SINGAPORE, Aug 7- U.S. crude futures steadied near six-month lows at close to $97 a barrel early on Thursday, pressured by ample supplies in the world's top oil consumer as crude stockpiles at the key Cushing delivery hub rose.

  • WASHINGTON, Aug 6- President Barack Obama said on Wednesday his administration plans to move quickly to curb what he called a "herd mentality" by companies doing business deals that help them escape U.S. corporate taxes, saying the practise was unfair to Americans.

  • Aug 6- Travel website owner Priceline Group Inc will invest $500 million in Chinese online travel company Ctrip.com International Ltd to broaden options for both companies in China. Shares of Ctrip rose about 8.6 percent in after-market trading to $65.65 while that of Priceline's were little changed.

  • *Russia ban is in retaliation for Western sanctions. MOSCOW, Aug 6- Russia has escalated an economic battle set off by the crisis in Ukraine with a ban on all food imports from the United States and on fruit and vegetables from the European Union, dropping any pretence these might be for food safety reasons.

  • SYDNEY, Aug 7- The euro nursed broad losses early on Thursday after a batch of disappointing data from Italy and Germany soured sentiment for the currency just hours ahead of a policy review by the European Central Bank.

  • Aug 6- Bank of America Corp is close to a deal with the U.S. Department of Justice to pay more than $16.5 billion to end investigations into mortgage securities that the bank and companies it bought sold in the run-up to the financial crisis, a person familiar with the matter said on Wednesday.

  • NEW YORK, Aug 6- Exports of crude oil from U.S. shores jumped in June to the highest since the 1950 s, according to U.S. data, topping OPEC member Ecuador in supplying global markets and underscoring the dramatic shift in global flows.

  • DETROIT, Aug 6- Chrysler Group Chief Executive Sergio Marchionne said on Wednesday the company has not resumed talks with Canadian officials about financial support to help upgrade a minivan plant in Windsor, but would entertain any proposal offered.

  • WASHINGTON, Aug 6- Sprint Corp's newly appointed Chief Executive Marcelo Claure has so far had a Midas touch in the telecoms industry, turning Brightstar, a reseller of U.S. handsets to Latin America, into a distributor valued at $2.2 billion when it was sold to Japan's SoftBank.

  • *Draghi expected to highlight risks from Ukraine conflict. FRANKFURT, Aug 7- The European Central Bank is set to hold fire on rates on Thursday as it waits for earlier stimulus measures to gain traction, while keeping an eye on emerging risks from the conflict in Ukraine.

  • Obama: Russian economy has ground to a halt Wednesday, 6 Aug 2014 | 6:56 PM ET

    President Barack Obama said on Wednesday that the Russian economy had "ground to a halt" as a result of U.S. and European sanctions and said Ukraine's weaponry was sufficient to fight separatists in the eastern part of the country.

  • Aug 6- Twenty-First Century Fox Inc, the film and TV company controlled by Rupert Murdoch, reported a quarterly profit that beat Wall Street's expectations as executives stressed that they would not make a new bid for Time Warner Inc.. Fox on Tuesday withdrew the $80 billion offer that Time Warner had rejected.

  • Houston approves ride services Uber, Lyft Wednesday, 6 Aug 2014 | 6:37 PM ET

    SAN FRANCISCO, Aug 6- The city council in Houston gave the green light to smartphone-enabled car ride services on Wednesday, removing legal uncertainty around popular services including Uber and Lyft. Separately, the city council in Dallas reviewed rules that could make the services legal there, too.

  • Aug 6- Kellogg Co has hired an adviser to evaluate a bid for cookies and snacks maker United Biscuits Ltd, a source familiar with the matter said. Sky News reported earlier on Wednesday that Kellogg was working with investment bankers from Barclays on a possible 2 billion pound bid for United Biscuits.

  • Yelp hit with shareholder lawsuit over online reviews Wednesday, 6 Aug 2014 | 6:23 PM ET

    SAN FRANCISCO, Aug 6- Yelp Inc and its executives were accused in a lawsuit of selling more than $81 million in stock while deceiving shareholders about the quality of consumer reviews on its website.

  • FACTBOX-U.S. food and agriculture exports to Russia Wednesday, 6 Aug 2014 | 6:19 PM ET

    Aug 6- Russia banned all imports of food from the United States and all fruit and vegetable imports from Europe in retaliation for Western sanctions over its support for rebels in Ukraine, Russia's state news agency said on Wednesday.

  • UPDATE 5-Time Warner to go it alone as Fox exits stage Wednesday, 6 Aug 2014 | 6:13 PM ET

    *Time Warner posts higher-than-expected profit, sets buyback. Aug 6- Time Warner Inc will not have to worry about any overtures from Twenty-First Century Fox for the foreseeable future. We have no plans to pursue any other third party content company as an alternative to Time Warner. "

  • Aug 6- Keurig Green Mountain Inc reported lower-than-expected quarterly revenue as sales of its one-cup coffee brewers fell ahead of the launch of a new machine later in the year. The company said it expected a profit of 68- 75 cents per share for the fourth quarter ending September.

  • Wylys' lawyer calls U.S. SEC $750 mln claim 'overblown' Wednesday, 6 Aug 2014 | 5:52 PM ET

    NEW YORK, Aug 6- A lawyer for Texas businessman Sam Wyly and his late brother Charles on Wednesday urged a U.S. judge to reject the Securities and Exchange Commission's request for as much as $750 million in damages for their role in a fraudulent offshore scheme.

  • HARRISBURG, Pa., Aug 6- Oil and gas producer Range Resources did not properly monitor leaks from a wastewater containment pond in Pennsylvania and the state has begun enforcement action that could lead to a fine, state officials said on Wednesday.