Latest Business News Wires - Business Headlines


  • WASHINGTON, June 10- The U.S. Senate will hold procedural votes on Tuesday on three Federal Reserve nominees, including Stanley Fischer to be vice chairman, with an aim to hold final votes later in the week.

  • *Cyprus eyes post-bailout bond debut for 500 mln- finmin source. NICOSIA, June 10- Cyprus appointed lead managers on Tuesday to arrange its first post-bailout bond, underpinning its ambitions for a swift comeback to international markets just a year after teetering on the verge of bankruptcy.

  • NEW YORK, June 10- A worldwide measure of stocks dipped on Tuesday but was within reach of its record high, while U.S. Stocks on Wall Street opened slightly lower a day after the S&P 500 closed at a record for a fourth straight session and world shares drifted near their record set in November 2007.

  • WASHINGTON, June 10- A U.S. appeals court on Tuesday rejected Wells Fargo& Co's attempt to avoid litigation over government allegations of misconduct related to home mortgage loans issued by the Federal Housing Administration.

  • ATHENS, June 10- Greece needs to improve the efficiency of its public sector dramatically to meet fiscal targets and avoid new austerity measures, the International Monetary Fund said on Tuesday.

  • *Greek yields drop, Cyprus plans comeback. LONDON, June 10- Euro zone overnight bank-to-bank interest rates traded at record lows on Tuesday and short-term bonds outperformed longer-dated paper in a sign that the European Central Bank's efforts to keep money markets anchored may bear fruit.

  • *Barclays recommendation upgrade lifts Novartis. PARIS, June 10- European stocks inched up on Tuesday, extending a three-week rally, led by gains in defensive Swiss blue-chips such as pharma group Novartis, boosted by an upbeat broker note.

  • WASHINGTON, June 10- U.S. regulators on Tuesday released a long-awaited draft update to its advice on the amount and type of fish that people should consume, for the first time recommending a minimum amount of low-mercury fish while cautioning against swordfish, shark, king mackerel and tilefish from the Gulf of Mexico.

  • *Raises full-year profit forecast to $1.05- $1.17/ share. The company said it expects earnings of $1.05- $1.17 per share on revenue of $387- $399 million, assuming comparable-store sales would remain flat at best for the year ending Jan. 31. It had previously forecast earnings of $1.16- $1.31 per share on revenue of $391- $409 million.

  • NEW YORK, June 10- U.S. benchmark 10- year yields rose to a one-month high on Tuesday, as investors have started to price in the prospect of higher interest rates following recent upbeat U.S. economic data and hawkish comments from Federal Reserve officials.

  • NEW YORK, June 10- The dollar extended gains against the euro on Tuesday after expectations that the Federal Reserve could raise U.S. interest rates sooner than previously expected, but fell against the yen on safe-haven demand for the Japanese currency.

  • June 10- Botox maker Allergan Inc on Tuesday rejected a sweetened $53 billion takeover offer from Valeant Pharmaceuticals International and activist investor William Ackman, reiterating that it undervalues the company and is too risky for shareholders.

  • DETROIT, June 10- General Motors Co plans no more employee dismissals relating to the company's handling of a defective ignition switch linked to at least 13 deaths, Chief Executive Mary Barra said on Tuesday.

  • *Wholesale inventories increase 1.1 percent in April. WASHINGTON, June 10- U.S. wholesale inventories rose more than expected in April, bolstering views of a sharp acceleration in economic growth in the second quarter. The Commerce Department said on Tuesday wholesale inventories increased 1.1 percent after advancing by the same margin in March.

  • US STOCKS-Wall St recedes modestly from record levels Tuesday, 10 Jun 2014 | 10:14 AM ET

    NEW YORK, June 10- U.S. stocks fell modestly on Tuesday as investors found few reasons to keep buying with the Dow and S&P 500 coming off a string of record highs. Facebook Inc rose 2.6 percent to $64.50 while Netflix Inc was up 2.3 percent to $432.94. Tuesday's decline comes after a string of gains for Wall Street.

  • DETROIT, June 10- The first 86 dealerships to relaunch the sporty Alfa Romeo brand in North America, most of them now selling Fiat cars, were announced on Tuesday by Fiat Chrysler Automobiles. It is the first time new Alfa models will be sold in North America since 1996.. Grady said that eventually there will be more than 300 Alfa Romeo franchises in North America.

  • June 10- Achillion Pharmaceuticals Inc said the U.S. Food and Drug Administration allowed it to resume the development of one of its hepatitis C drugs, lifting a clinical hold that was imposed nearly a year ago.

  • *U.S. 10-YEAR NOTE YIELDS HIT HIGHEST SINCE MID-MAY Tuesday, 10 Jun 2014 | 10:07 AM ET
  • June 10- U.S. electronics retailer RadioShack Corp reported a much bigger-than-expected first-quarter loss as its turnaround efforts failed to bear fruit, raising doubts about the company's long-term prospects. Shares of RadioShack, which reported its ninth straight quarterly loss, fell as much as 14 percent in early trading.

  • NICOSIA, June 10- Cyprus has appointed six international banks to arrange meetings with bond investors in Europe, revealing plans to return to international markets at least a year earlier than envisaged under its bailout program.