Latest Business News Wires - Business Headlines


  • *4th- qtr profit of $400,000 vs $35.3 mln loss year earlier. Feb 27- Trucking company YRC Worldwide Inc reported fourth-quarter results that beat Wall Street estimates as operating revenue in its regional transportation business rose 10 percent, sending its shares up about 11 percent.

  • RIO DE JANEIRO/ SAO PAULO Feb 27- Vale SA, the world's largest iron ore producer, will maintain cost and capital-spending austerity this year even as the outlook for prices is improving, its chief executive officer said on Thursday.

  • LONDON, Feb 27- The London Metal Exchange voiced "serious concerns" over its ability to maintain an orderly base-metal market if forced to repeat a consultation to reform its global warehouse network, as Russian aluminium giant Rusal seeks a judicial review.

  • Feb 27- U.S. retailer Best Buy Co Inc reported a better-than-expected quarterly profit on Thursday and announced more aggressive cost cuts this year, sending its shares up nearly 6 percent in morning trading.

  • Feb 27- Valeant Pharmaceuticals International Inc sees close to 50 opportunities for mergers or acquisitions, its chief executive said on Thursday, as it aims to become one of the world's five biggest pharmaceutical companies.

  • LONDON, Feb 27- German Chancellor Angela Merkel told Prime Minister David Cameron she was not prepared to promise fundamental reform of the European Union for London's sake, but said the bloc did need some changes and that his country should not leave it.

  • SIMFEROPOL, Ukraine, Feb 27- Armed men seized the parliament in Ukraine's Crimea region on Thursday and raised the Russian flag, alarming Kiev's new rulers, who urged Moscow not to abuse its navy base rights on the peninsula by moving troops around.

  • MADRID, Feb 27- Spain's Telefonica said on Thursday it was seeing signs of a rebound as it posted 2013 results, but analysts warned it remained vulnerable to Latin American jitters and still tough European markets. But weaker currencies in Brazil, Argentina and Venezuela dented revenues and operating income, while margins in Europe also came under pressure.

  • BARCELONA, Feb 27- Fierce competition in the global advertising industry forced Britain's WPP to lower its profit guidance for 2014 on Thursday, wiping more than a billion pounds off its share price and overshadowing its improving trading throughout 2013..

  • NEW YORK, Feb 27- U.S. stocks opened little changed on Thursday, with a better-than-expected read on durable goods offseting political uncertainty in Ukraine.

  • EBay founder rejects Icahn's call for PayPal spinoff Thursday, 27 Feb 2014 | 9:30 AM ET

    Feb 27- EBay Inc founder and Chairman Pierre Omidyar rejected investor Carl Icahn's call to separate the company's fast-growing PayPal payments unit, saying the businesses were better off together.

  • *Blackstone to pay 210 mln euros for 20 pct stake. MILAN, Feb 27- Italian fashion house Versace is selling a 20 percent stake to U.S. private equity firm Blackstone for 210 million euros, aiming to fund new shops and build on a recent recovery in sales before an eventual stock market listing.

  • Feb 27- Viktor Yanukovich said on Thursday he was still president of Ukraine and warned its "illegitimate" rulers that people in the southeastern and southern regions would never accept mob rule. I, Viktor Fedorovich Yanukovich, appeal to the people of Ukraine.

  • WASHINGTON, Feb 27- Freddie Mac said on Thursday it will soon send the U.S. When it makes the payment next month, Freddie Mac will have paid about $81.8 billion in dividends in return for the $71.3 billion in support it received from the Treasury when it was bailed out during the financial crisis.

  • DETROIT, Feb 27- U.S. safety regulators have opened an investigation into whether General Motors Co reacted fast enough in its recall of more than 1.6 million cars over an ignition-switch defect linked to 13 deaths in crashes.

  • LONDON, Feb 27- The Bank of England's revamped forward guidance has split economists in a Reuters poll as to whether it has improved clarity about where British interest rates are headed.

  • *Durable goods orders ex-transportation rise 1.1 percent. WASHINGTON, Feb 27- Orders for long-lasting U.S. manufactured goods excluding transportation unexpectedly rose last month as did a gauge of business spending plans, but that will probably not change views that factory activity is slowing.

  • SAO PAULO, Feb 27- Brazil's economy ended 2013 on a positive note thanks to strong consumer spending and investment, providing a much-needed boost to President Dilma Rousseff as she tries to rebuild her credibility with investors and win reelection in October.

  • Chicago not poised to go the way of Detroit -S&P Thursday, 27 Feb 2014 | 9:00 AM ET

    CHICAGO, Feb 27- Standard& Poor's Ratings Services posed the question on Thursday that has been lingering in the minds of many in Chicago: Will significant budget pressures put the city on the same path that led Detroit into bankruptcy?

  • TORONTO, Feb 27- Toronto-Dominion Bank said on Thursday its first-quarter profit rose 15 percent on the back of stronger wholesale banking and U.S. retail banking income, and the lender boosted its dividend by a robust 9 percent.