Latest Business News Wires - Business Headlines


  • TORONTO, May 1- Two years after taking control of Canadian Pacific Railway, Chief Executive Hunter Harrison said his aggressive overhaul of the former industry laggard will soon hit pay dirt, with its transformation into North America's most efficient carrier.

  • WASHINGTON, May 1- A senior Democratic U.S. senator said on Thursday he would take the time needed to put together a bill granting the White House power to fast-track trade agreements while Republicans called for swift action.

  • May 1- OpenTable Inc, operator of restaurant booking website OpenTable.com, posted its first quarterly loss in five years due to higher marketing costs aimed at stemming the slide in the number of restaurants signing up for its services.

  • UPDATE 1-Kraft profit up on cost cuts, hedging gains Thursday, 1 May 2014 | 6:22 PM ET

    May 1- Kraft Foods Group Inc on Thursday reported a higher quarterly profit, helped by cost cuts and gains related to moves to manage the cost of key ingredients in its products such as Velveeta cheese and Maxwell House coffee.

  • ABUJA, May 1- Delegates to the World Economic Forum on Africa next week in the Nigerian capital Abuja will be in the right place to reflect on the rising continent's problems, as well as its undoubted potential.

  • May 1- Vertex Pharmaceuticals Inc on Thursday said a combination of its cystic fibrosis drug Kalydeco and an experimental compound was shown to improve lung function in a mid-stage trial, sending its shares up nearly 8 percent.

  • TORONTO, May 1- Ontario's minority Liberal government unveiled a budget on Thursday that projected a larger-than-forecast deficit for fiscal year 2014-15, but it was not clear whether the budget would get enough opposition support to pass and stave off a summer election.

  • WASHINGTON, May 1- Israel has become the latest country to reach a tax information-sharing agreement with the United States under a new law meant to combat offshore tax dodging by Americans, a U.S. Treasury Department spokesperson said on Thursday.

  • *Comes week before Abuja hosts World Economic Forum event. ABUJA, May 1- A suspected bomb exploded on the outskirts of Nigeria's capital Abuja on Thursday, killing at least nine people, a week before the city was to host a summit of leaders and business executives focused on Africa's growth prospects, emergency services said.

  • May 1- Outerwall Inc, operator of Redbox video rental kiosks, reported better-than-expected results largely due to a strong slate of movie releases on DVDs in the first quarter, and the company raised its full-year earnings forecast. Outerwall is expected to benefit from the release of a number of blockbuster movies on DVDs in the second half of the year.

  • LONDON, May 1- Japan's consumer spending has not slowed as much as feared after a consumption tax hike in April, but such a risk warranted caution, Prime Minister Shinzo Abe said on Thursday.

  • TORONTO, May 1- Automakers reported solid Canadian vehicle sales in April, with a 4 percent overall gain on a year ago, as demand for truck and luxury brands buoyed the industry. Chrysler, a unit of Fiat Chrysler Automobiles, said total vehicle sales climbed to 27,212 vehicles.

  • VANCOUVER, May 1- Goldcorp Inc Chief Executive Chuck Jeannes said on Thursday he was disappointed the company failed in its takeover bid for Osisko Mining Corp but not overpaying for the smaller Canadian miner was the right thing to do.

  • NEW YORK, May 1- New York officials on Thursday struck a tentative, nine-year contract agreement with the city's public school teachers worth around $4 billion through 2018 in a deal that could pave the way for settlement in a years-old dispute with the city workforce by the end of the financial year on June 30.

  • *Malaysia Airlines urges passengers' families to go home. KUALA LUMPUR/ PARIS, May 1- Malaysia on Thursday released its most comprehensive account yet of what happened to missing Flight MH370, in a preliminary report that detailed the route the plane probably took as it veered off course and revealed the confusion that followed.

  • TABLE- Top-20 selling vehicles in U.S. in April Thursday, 1 May 2014 | 5:02 PM ET

    May 1- The following are the 20 top-selling vehicles in the U.S. in April as reported by automakers and ranked by total units. Top 20 selling vehicles in U.S. in April.

  • May 1- Western Union Co, the world's largest money-transfer company, reported a stronger-than-expected quarterly profit as it earned higher revenue on transactions between individuals. Western Union, which gets most of its business from migrant workers sending money home, also reaffirmed its full-year earnings forecast of $1.40 to $1.50 per share.

  • May 1- Vertex Pharmaceuticals Inc on Thursday said a combination of its cystic fibrosis drug Kalydeco with an experimental compound was shown to improve lung function in a mid-stage trial, and its shares rose 10 percent after the news.

  • New Jersey has now fallen into single-A category with two of the three major Wall Street credit rating agencies. Standard& Poor's Ratings Services cut New Jersey to A+ last month, citing budget tricks, the state's sizable imbalance, "bullish" revenue assumptions and pressure from growing pension obligations.

  • *May Day holiday mutes trading volume in Europe, Asia. Federal Reserve reiterated confidence on its economic outlook despite the slim 0.1 percent growth in U.S. gross domestic product in the first three months of 2014. "Internet is the place to be today," said Michael Matousek, head trader at U.S. Global Investors Inc. in San Antonio, Texas.