Latest Business News Wires - Business Headlines


  • DENVER, May 7- The Colorado state Senate passed a bill on Wednesday to create the nation's first state-run marijuana financial cooperative, with the ultimate aim of opening newly legalized cannabis retail outlets to key banking services through the Federal Reserve.

  • May 7- Keurig Green Mountain Inc on Wednesday said it was expanding its partnership with J.M. Smucker Co with a multiyear agreement to make and sell Folgers and other Smucker brands in formats that work with new Keurig brewing systems.

  • *Putin comments on Ukraine suggest easing tensions. *Gold prices decline, U.S. dollar index edges up. Equities were volatile throughout the day, with investors parsing comments from Russian President Vladimir Putin indicating a possible easing to the geopolitical concerns over Ukraine that have weighed on markets.

  • May 7- Car rental company Avis Budget Group reported a profit in the first quarter, compared with a loss a year earlier, helped by higher car rental volumes and rates in North America. Avis posted a net income of $4 million, or 3 cents per share, in the first quarter ended March 31, compared with a loss of $46 million, or 43 cents per share, a year earlier.

  • Investment business drives Prudential profit Wednesday, 7 May 2014 | 4:17 PM ET

    May 7- Prudential Financial Inc, the second-largest U.S. life insurer, reported a quarterly profit compared with a loss a year earlier, driven by higher income from its investment unit.

  • May 7- Rupert Murdoch- controlled Twenty-First Century Fox Inc, the film and TV company separated from News Corp last June, reported a 12 percent rise in quarterly revenue, helped by Super Bowl advertising and cable networks growth. The company's net income rose to $1.05 billion, or 47 cents per share, for the third quarter ended March 31.

  • NEW YORK, May 7- U.S. stocks mostly rose on Wednesday as the Federal Reserve signaled it will continue to support the economy, but the Nasdaq fell for a second session on weakness in Internet names. The Dow Jones industrial average was up 117.52 points, or 0.72 percent, to end unofficially at 16,518.54.

  • May 7- When the steel industry goes to Washington, it usually talks about trade, tariffs and taxes. "One of the biggest obstacles has been the belief that canned food is not nutritious," said Rich Tavoletti, executive director of the Canned Food Alliance. "

  • NEW YORK, May 7- In a deal that could pave the way for a major law firm merger, Washington law and lobbying firm Patton Boggs has agreed to pay $15 million to settle claims by Chevron Corp that it tried to enforce an $18 billion pollution judgment in Ecuador against the oil company it knew was obtained through fraud and corruption.

  • WASHINGTON, May 7- Kentucky Senator Rand Paul bet on a long-shot and lost in North Carolina's contentious Republican Senate primary, raising new questions about the Tea Party hero's bid to woo the party establishment on his way to a 2016 White House race.

  • May 7- JPMorgan Chase& Co said on Wednesday it was closing the U.S. accounts of current and former foreign government officials to avoid the high compliance costs associated with these accounts.

  • NEW YORK, May 7- Global oil prices rose by more than $1 a barrel on both sides of the Atlantic on Wednesday as an unexpected drop in United States inventories supported U.S. crude and escalating tensions in Libya pushed Brent higher.

  • US to oil shippers: No more unannounced visits Wednesday, 7 May 2014 | 3:20 PM ET
    A train is derailed west of Casselton, North Dakota

    U.S. companies moving crude via rail must tell states when a cargo is moving across their jurisdiction, the Transportation Secretary said.

  • May 7- King Digital Entertainment Plc's stock plummeted about 15 percent on Wednesday as signs that the company may be losing steam overshadowed better-than-expected quarterly results from the maker of hit mobile game "Candy Crush Saga." King's shares dropped to $15.90 in afternoon trading.

  • WASHINGTON, May 7- A slumping housing market and geopolitical tensions risk undermining the U.S. economy and bear close watching by the Federal Reserve, the central bank's chief said on Wednesday.

  • WASHINGTON, May 7- The U.S. financial risk council adopted new transparency measures on Wednesday, after critics raised concerns the group was too secretive about its decision-making process. In a unanimous vote, the Financial Stability Oversight Council agreed to give the public seven days' notice about upcoming meetings and agenda items.

  • WASHINGTON, May 7- The U.S. Department of Transportation has rebuffed a call by two Democratic senators to advise owners of 2.6 million recalled General Motors cars to stop driving them until they are repaired.

  • TREASURIES-Prices mostly up as Yellen stays dovish Wednesday, 7 May 2014 | 3:08 PM ET

    NEW YORK, May 7- U.S. Treasuries gained on Wednesday after America's top central banker said the world's largest economy remained on the mend but still required substantial monetary accommodation from Washington policymakers.

  • NEW YORK, May 7- Two-thirds of commodity hedge funds lost money in the first quarter, extending last year's dismal run, possibly because they bet against higher crop and energy prices in a rallying market, data from futures broker Newedge and banker HSBC showed on Wednesday.

  • WASHINGTON, May 7- U.S. companies moving crude oil via rail must tell state officials when a cargo is moving across their jurisdiction, the U.S.