Latest Business News Wires - Business Headlines


  • Mexican iFone to seek damages after iPhone ruling Friday, 6 Jun 2014 | 3:09 PM ET

    MEXICO CITY, June 6- Mexican telecommunications company iFone said on Friday, after winning a trademark ruling, it aims to seek damages from three local cellphone providers for using the Apple brand iPhone to sell services.

  • WASHINGTON, May 30- The U.S. State Department on Friday corrected several errors it made in a key study evaluating the impact of the proposed Keystone XL pipeline, including a understatement of how many people could be killed on railroad tracks if the project were rejected and oil traffic by rail increased.

  • WASHINGTON, June 6- U.S. consumer credit surged in April as Americans ramped up their use of credit cards, a potentially positive sign for consumer spending. Total consumer credit increased by $26.85 billion to $3.18 trillion, the Federal Reserve said on Friday. Analysts polled by Reuters expected a more modest increase during the month of $15.5 billion.

  • NEW YORK, June 6- U.S. The U.S. government will sell $28 billion in three-year notes on Tuesday, $21 billion in 10- year notes on Wednesday and $13 billion in 30- year bonds on Thursday, new supply that weighed on the market late on Friday.

  • *Hertz Global falls, to restate financial results. NEW YORK, June 6- U.S. stocks rose on Friday, with major indexes extending a rally that has taken them to repeated records, after the May payrolls report provided the latest confirmation that economic conditions were improving.

  • SAN FRANCISCO, June 6- Uber Inc has raised $1.2 billion from mutual funds and other investors in a funding round that valued the fast-growing rides-on-demand service at $18.2 billion in one of the highest valuations ever for a Silicon Valley startup.

  • MOSCOW, June 6- President Vladimir Putin's idea of a massive boost to Gazprom's share capital has taken bankers and the energy industry by surprise, with some fearing it could further strain Russia's sanctions-hit economy and undermine the rouble.

  • June 6- Wal-Mart Stores Inc appointed Gregory Penner as vice chairman, showing again that the world's largest retailer is looking at younger executives to revive its fortunes. Penner, who has been on Wal-Mart's board since 2008, is a general partner at Madrone Capital Partners, according to Wal-Mart's website.

  • But the EPA rule does not focus on absolute emissions reductions but rather seeks a reduction of carbon intensity from 2012 levels. The EPA said every state except Vermont, which has almost no carbon emissions, still needs to reduce carbon intensity under the rule, including the dozen or so states whose emissions are already 30 percent or more below 2005 levels.

  • UPDATE 7-U.S. oil gains on solid jobs report Friday, 6 Jun 2014 | 2:04 PM ET

    *Price gains curbed by easing Ukraine tension, ample supply. NEW YORK, June 6- U.S. crude oil futures edged higher on Friday, buoyed by a solid jobs report in the United States, the world's largest oil consumer, which pointed to economic strength and growing oil demand.

  • LONDON, June 6- The European Central Bank will probably not know until the end of the year, after banks have had the chance to take up its cheap loans, whether its latest actions have been effective, its vice-president said on Friday.

  • WASHINGTON, June 6- U.S. employment returned to its pre-recession peak in May with a solid pace of hiring that offered confirmation the economy has snapped back from a winter slump. Nonfarm payrolls increased 217,000 last month, the Labor Department said on Friday, in line with market expectations.

  • VANCOUVER, June 6- A funding technique mostly used to help companies build new mines is moving into the mainstream as a way to pay for acquisitions and could help boost industry deal volumes that have fallen for the past three years.

  • SAN FRANCISCO, June 6- Uber Inc has raised $1.2 billion in funding from mutual funds and investors, valuing the fast-growing rides-on-demand startup at $18.2 billion, the company said on Friday.

  • ALMATY, June 6- The troubled Kashagan oil development has named an executive from U.S. firm Exxon Mobil to run the venture while also streamlining its complicated structure in an attempt to fix the beleaguered $50 billion project offshore Kazakhstan.

  • BRUSSELS, June 6- Companies based outside the European Union must meet Europe's data protection rules, ministers agreed on Friday, although governments remain divided over how to enforce them on companies operating across the bloc.

  • DEAUVILLE, France, June 6- Russian President Vladimir Putin said on Friday that he welcomed plans put forward by Ukrainian president-elect Petro Poroshenko, with whom he had a brief initial meeting earlier, to stop the violence in Ukraine.

  • NEW YORK, June 6- The U.S. dollar recouped losses Friday as investors added to a well-worn pattern of borrowing greenbacks to buy higher-yielding currencies after solid U.S. jobs data left little chance the Federal Reserve would speed up monetary tightening.