Latest Business News Wires - Business Headlines


  • UPDATE 6-U.S. oil rises $1 as market eyes Cushing draw Tuesday, 4 Feb 2014 | 11:38 AM ET

    *Cushing stocks expected to fall by over 1 mln bbls- sources.

  • *Germany has 3rd monthly sales gain in past 4 months. BERLIN, Feb 4- New car sales in Germany posted their highest gain in more than two years in January, reinforcing signs that Europe's auto market may turn the corner in 2014 after a six-year slump.

  • NEW YORK, Feb 4- U.S. permits granted for exports of oil to Europe since last year were for foreign-origin crude oil only, the Department of Commerce's Bureau of Industry and Security said on Tuesday. The bureau had granted two licenses to export crude to the UK since last year and another two to Italy, according to data that Reuters obtained through a U.S.

  • *Only third CEO in Microsoft's 39- year history. SEATTLE, Feb 4- Microsoft Corp named 22- year company veteran Satya Nadella as its next chief executive officer on Tuesday and said co-founder Bill Gates would step down as chairman and advise the new CEO on technology, marking an epochal change of control at the company that drove the PC revolution.

  • Boeing sees no bubble in 737 jetliner market Tuesday, 4 Feb 2014 | 11:23 AM ET

    SEATTLE, Feb 4- Boeing Co said on Tuesday it sees no bubble in the market for 737 jetliners and that production could go to 60 a month at the current factory in Renton, Washington, though it was not clear it would go that high.

  • *FTSEurofirst 300 down 0.1 percent, well off session low. LONDON, Feb 4- European shares inched lower on Tuesday, extending recent steep falls, pegged back by disappointing earnings reports from the likes of chip designer ARM and telecom company KPN.


  • Majority owner Liberty Media last month offered to buy out Sirius XM's minority shareholders in a deal that could be worth more than $10 billion. An independent committee of three Sirius XM board members- Eddy Hartenstein, Joan Amble and James Holden- are evaluating the offer and are being advised by Evercore.

  • LONDON, Feb 4- Central banks in emerging markets are under growing pressure to raise interest rates, to support their currencies and head off inflation caused by weaker exchange rates. Some countries, such as Brazil and Indonesia, were already poised to hike rates. Markets may force others, such as Hungary or Thailand, into reversing hitherto dovish policies.

  • No end in sight to "pain" of betting on weaker euro Tuesday, 4 Feb 2014 | 11:09 AM ET

    LONDON, Feb 4- Anyone betting against the euro may well find this strategy remains a "pain trade", even though the common currency has fallen to a 10- week low against the dollar this week.

  • COLUMN-Shell's fall from grace: Kemp Tuesday, 4 Feb 2014 | 11:03 AM ET

    LONDON, Feb 4- "All political lives, unless they are cut off in midstream at a happy juncture, end in failure," wrote Enoch Powell, a former member of Britain's parliament who held controversial views on immigration and national identity. Much the same could be said of business careers, as Shell's former chief executive Peter Voser has learned the hard way.

  • CHICAGO, Feb 4- Exchange-operator CME Group Inc reported higher quarterly earnings on Tuesday as trading in its flagship interest rate contracts surged 29 percent.

  • FRANKFURT, Feb 4- The European Central Bank has discussed the possibility of suspending operations to soak up money it spent on sovereign bonds but this is just one policy option and is unlikely to be decided this week, people familiar with the issue say.

  • *Yum Brands reaffirms 2014 profit outlook, shares jump. *Michael Kors stock soars after results. NEW YORK, Feb 4- U.S. stocks bounced on Tuesday, underpinned by sturdy corporate results, as the market fought to regain its footing following its largest selloff in months a day earlier.

  • West Virginia Secretary of State Natalie Tennant said she would be asking senators for a 10- year study into the effects of the Jan. 9 spill into the Elk River near Charleston, the state capital.


  • WASHINGTON, Feb 4- The Congressional Budget Office on Tuesday reduced its estimate of the U.S. budget deficit for the current fiscal year but said sluggish economic growth and stubbornly high unemployment will cause the improvement to be short-lived.

  • Feb 4- J.C. Penney Co Inc on Tuesday reported a modest rise in quarterly comparable sales but gave no details on its gross profit margin, leading Wall Street analysts to conclude the department store operator had to resort to bigger discounts during the holiday season.

  • TORONTO, Feb 4- Silver Standard Resources Inc said on Tuesday it will buy the Marigold mine in Nevada for $275 million in cash from joint owners Goldcorp Inc and Barrick Gold in a move aimed at its boosting its gold exposure.

  • *Revenue growth seen 3-5 pct in 2014-2016 vs 5 pct in 2013. MOSCOW, Feb 4- MTS, Russia's biggest mobile phone operator by subscribers, warned sales growth would likely slow during the next three years as a weakening economy curtails consumer demand.