Latest Business News Wires - Business Headlines


  • ANN ARBOR, Mich., April 2- President Barack Obama, needing a spark to nudge Democratic voters to the polls in November, pressed his case on Wednesday for job-creation measures that have little chance of passing Congress.

  • NEW YORK, April 2- A New York state judge has dismissed a lawsuit brought by an investor in a fund managed by Tremont Group Holdings, one of the largest feeders of funds into Bernard Madoff's Ponzi scheme.

  • NEW YORK, April 2- The S&P 500 closed at another record high on Wednesday as private-sector labor market data suggested that the economy was slowly building momentum after a winter-related pullback earlier in the year.

  • LONDON/ ANKARA, April 2- Iran and Russia have made progress toward an oil-for-goods deal that sources said could be worth up to $20 billion and enable Tehran to boost vital energy exports in defiance of Western sanctions, people familiar with the negotiations told Reuters.

  • NEW YORK, April 2- U.S. The fact that the data did not disappoint pushed yields higher on the day, said Lou Brien, market strategist at DRW Trading in Chicago. In a separate report, Commerce Department data showed new orders for manufactured goods jumped 1.6 percent in February, the biggest rise since September.

  • District Judge Jed Rakoff in Manhattan said the "substantial additional information" provided by the SEC, "the unique circumstances of this case, and further guarantees of prompt payment of the proposed fines" justified approval, according to an order made public on Wednesday.

  • District Judge Jed Rakoff in Manhattan said the "substantial additional information" provided by the SEC, "the unique circumstances of this case, and further guarantees of prompt payment of the proposed fines" justified approval, according to an order made public on Wednesday.

  • April 2- A U.S. bankruptcy judge on Wednesday approved Detroit's plan to borrow $120 million from Barclays PLC to improve services in the cash-strapped city. Judge Steven Rhodes, who is overseeing Detroit's historic bankruptcy case, overruled objections by city creditors who took issue with the timing and structure of the loan.

  • *Athens sees full market return in 2016. *Athens could tap markets a second time this year. The Eurogroup of finance ministers met in Athens this week, attracting about 5,000 protesters who denounced the latest measures agreed with the European Union and the International Monetary Fund to try to make the economy more competitive.

  • TORONTO/ VANCOUVER, April 2- Osisko Mining Corp said on Wednesday that Yamana Gold Inc would buy a 50 percent stake in its mining and exploration assets for C $930 million, a deal that potentially thwarts a hostile bid from Goldcorp Inc..

  • WASHINGTON, April 2- A group of top U.S. regulators on Wednesday warned about the threat of rising cyber-attacks on banks' websites and their cash machines, urging the industry to put proper measures in place to guard against fraud.

  • NEW YORK, April 2- The dollar touched a 10- week high against the Japanese yen on Wednesday as the greenback rallied on reports signalling U.S. businesses are shaking off a chill on hiring and factory orders from harsh winter weather. "The ADP report, especially the upward revision, was read as a USD positive signal" said Bryan Zarnett, currency strategist at Citi.

  • WASHINGTON, April 2- The number of conditions the International Monetary Fund attaches to its loans has grown in recent years, despite promises to limit what critics see as onerous requirements, a study showed on Wednesday.

  • SAN FRANCISCO, April 2- Microsoft Corp said on Wednesday it will give away its Windows operating system to makers of smartphones and small tablets as it seeks to grab a toehold in those fast-growing markets.

  • WASHINGTON, April 2- Officials from the U.S. government and the private non-profit group that manages the Internet's "address book" promised on Wednesday to not rush a Commerce Department plan to relinquish oversight over Internet infrastructure management.

  • WASHINGTON, April 2- The head of the International Monetary Fund on Wednesday called on the European Central Bank to ease monetary policy to move prices higher, saying "low-flation" in advanced economies risked undercutting an already sluggish global recovery.

  • UPDATE 2-Prada bets on men to accelerate sales growth Wednesday, 2 Apr 2014 | 2:20 PM ET

    *Prada to invest in menswear, shops, factories. HONG KONG/ MILAN, April 2- Italian luxury fashion group Prada is pinning its hopes on men's growing taste for finely-cut suits and leather bags to drive a pick up in sales growth in the coming years. "Men will be protagonists in our development," Prada retail director Guilio Bruni said.

  • Iowa farmland prices fall more than 5 percent -survey Wednesday, 2 Apr 2014 | 2:10 PM ET

    CHICAGO, April 2- Farmland values in Iowa, the top U.S. corn and soybean state, fell 5.4 percent over the past six months, under pressure from lower grain prices, according to a benchmark survey of realtors.

  • ZURICH, April 2- The widow of Zurich Insurance's late finance chief on Wednesday rejected a report into his suicide, telling the Swiss company's annual shareholder meeting she could not accept the findings of an investigation into his death.

  • NEW YORK, April 2- Blythe Masters, one of Wall Street's most powerful women, is leaving JPMorgan Chase& Co. after a 27- year career that began as an intern in London and concludes with the sale of the multibillion-dollar commodities business she built.