Latest Business News Wires - Business Headlines


  • *Reduces monthly bond purchases by $10 billion, as expected. WASHINGTON, Jan 29- The U.S.

  • WASHINGTON, Jan 29- The U.S. consumer financial watchdog said on Wednesday it was seeking fines against PHH Corp and repayment to consumers over allegations that the mortgage lender steered borrowers to insurers from which it took kickbacks.

  • TORONTO, Jan 29- Mile-long trains carrying crude oil will likely keep chugging through North American cities even after a string of fiery disasters spurred safety officials to urge that railways send risky cargo along less populated routes.

  • *Boeing, Yahoo fall after results. "This was pretty much as expected," said Wayne Kaufman, chief market analyst at Rockwell Securities in New York. Stocks had been lower ahead of the announcement amid concerns that bold efforts by Turkey and South Africa to stabilize their currencies may not be enough to staunch a cycle of selling in emerging markets.

  • Martoma, 39, is accused of using inside information about a drug trial to trade in the stock of Elan Corp Plc and Wyeth that helped SAC Capital make profits and avoid losses of $276 million.

  • NEW YORK, Jan 29- The major U.S. stock indexes initially pared losses and then extended their declines on Wednesday after the Federal Reserve announced a further reduction in its monthly bond purchases, as expected. The Dow Jones industrial average fell 157.60 points or 0.99 percent, to 15,770.96. The S&P 500 lost 14.69 points or 0.82 percent, to 1,777.81.


  • *Mediator does not expect progress by end of session on Friday. *Talks to work on 2012 Geneva communique, but approaches differ.

  • Jan 29- Country singers Miranda Lambert and Tim McGraw led the nominations for the Academy of Country Music Awards on Wednesday with seven nods apiece, and Australian singer Keith Urban followed with six nominations.

  • WASHINGTON, Jan 29- The U.S. Fed Chairman Ben Bernanke, who hands the central bank's reins to Vice Chair Janet Yellen on Friday, also adjourned his last policy-setting meeting without making any changes to the U.S. central bank's other main policy plank: its longer-term plan to keep interest rates low for some time to come.

  • *Fed expected to cut bond purchases by another $10 bln. NEW YORK/ LONDON, Jan 29- Gold rose on Wednesday as a drop in global equities, slumping emerging-market currencies and jitters over an upcoming policy statement by the U.S.

  • UPDATE 2-U.S. House easily passes long-overdue farm bill Wednesday, 29 Jan 2014 | 1:49 PM ET

    *Bill goes to Senate for vote as early as Thursday. WASHINGTON, Jan 29- The U.S. House of Representatives passed a comprehensive farm bill on Wednesday that cuts payments for food stamps by about 1 percent and ends a direct subsidy to farmers, while expanding government-backed crop insurance programs.

  • WASHINGTON, Jan 29- President Barack Obama's renewed pitch for legislation to wind down mortgage-finance giants Fannie Mae and Freddie Mac is unlikely to break a political log-jam that threatens to put the goal out of reach- at least while he's in office.

  • MOSCOW/ KIEV, Jan 29- President Vladimir Putin raised the pressure on Ukraine on Wednesday, saying Russia would wait until it forms a new government before fully implementing a $15 billion bailout deal that Kiev urgently needs.

  • WASHINGTON/ BOSTON, Jan 29- President Barack Obama's new "myRA" retirement savings program will be run by a private-sector money management firm chosen by the U.S. Treasury Department from a field of up to 30 firms, a senior administration official said on Wednesday.

  • Target officials to brief House Oversight panel -source Wednesday, 29 Jan 2014 | 1:42 PM ET

    WASHINGTON, Jan 29- Officials from Target Corp will participate in a telephone briefing on Thursday with members of a powerful House of Representatives committee, a source familiar with the issue told Reuters.

  • BUENOS AIRES, Jan 29- Grains powerhouse Argentina will jump-start soy exports over the weeks ahead as farmers, who have hoarded beans to protect themselves from the weakening peso and galloping inflation, are forced to sell by the time harvesting starts in March.

  • Jan 29- A Chicago- based accountant was indicted for allegedly trading ahead of an earnings announcement from his then employer, Allscripts Healthcare Solutions Inc, U.S. federal prosecutors said on Wednesday. Attorney's office in Chicago said. He now also faces charges from the Securities and Exchange Commission.

  • UPDATE 7-U.S. crude falls on inventory jump, Brent firmer Wednesday, 29 Jan 2014 | 1:27 PM ET

    NEW YORK, Jan 29- U.S. crude oil futures fell on Wednesday after government data showed a hefty build in crude inventories, but losses were curtailed by a larger-than-expected stocks draw in distillates, the third in as many weeks, spurred by severely cold weather.

  • YOUR MONEY-Is myRA for me? Wednesday, 29 Jan 2014 | 1:22 PM ET

    NEW YORK, Jan 29- President Obama' s proposal for myRA, a new retirement savings vehicle, took up only a few moments of Tuesday's State of the Union address, prompting more questions than answers about it. After an individual accumulates $15,000, the account would roll over into a traditional individual retirement account.