Latest Business News Wires - Business Headlines


  • *Says would take action against Britain if evidence found. BRUSSELS, Jan 28- Some EU countries that have criticised U.S. cyber surveillance are "hypocritical" as they themselves are failing to protect citizens' private information, the European Union's top justice official said on Tuesday.

  • *Robust demand seen at Madrid regional bond sale. MADRID, Jan 28- Spain's short-term borrowing costs fell at a treasury bill sale on Tuesday and demand at a Madrid regional bond sale was double the amount on offer as an upgrade of the country's growth forecast reinforced investor confidence.

  • HAVANA, Jan 28- Cuban President Raul Castro challenged Latin American and Caribbean leaders on Tuesday to improve health care and education, telling a regional summit they have the natural resources to eradicate poverty but may lack the political will.

  • Europe's cable sector braces for more deals Tuesday, 28 Jan 2014 | 1:35 PM ET

    *Spain's Ono in the sights of Vodafone, Liberty Global. Jan 28- Europe's booming cable sector is set for another round of deal-making as the private-equity owners of cable companies in Spain, Sweden and Norway head for the exit and giants like Vodafone and Liberty Global compete for targets.

  • Jan 28- Teen apparel retailer Abercrombie& Fitch Co stripped Chief Executive Mike Jeffries of his chairman duties, bowing to investor pressure to reduce his control over the struggling company.

  • LONDON, Jan 28- Copper hit a seven-week low on Tuesday as buying interest faded ahead of the Chinese New Year and as a stronger dollar weighed, though a steadier tone in emerging markets helped limit the metal's losses.

  • SAO PAULO/ SANTIAGO, Jan 28- Itaú Unibanco Holding SA, the largest Latin American bank by market value, and Chilean lender CorpBanca SA could announce a banking partnership as early as Wednesday, sources with direct knowledge of the situation told Reuters.

  • Jan 28- Ratings agency Standard& Poor's cut its long- and short-term foreign currency sovereign credit ratings on Ukraine to "CCC+/ C" from "B-/B", with a negative outlook, citing escalating political instability.

  • Jan 28- Two former BP Plc well site managers have failed to win the dismissal of involuntary manslaughter charges over their roles in the 2010 Gulf of Mexico oil drilling disaster, which killed 11 people.

  • UPDATE 6-U.S. crude rises nearly $2 on spread trading Tuesday, 28 Jan 2014 | 12:58 PM ET

    Market perception that the gradual start-up of TransCanada Corp's Keystone pipeline would transport supplies from oil hub Cushing, Oklahoma, where the U.S. crude oil contract is priced, to the Gulf Coast supported prices.

  • *FTSEurofirst 300 up 0.6 pct, Euro STOXX 50 up 0.8 pct. Spain's IBEX index rose 1.2 percent, outperforming the pan-European FTSEurofirst 300 index, up 0.6 percent at 1,298.12, and the Euro STOXX 50, up 0.8 percent at 3,038.60 points.

  • Jan 28- Comcast Corp on Tuesday reported that it added more video subscribers than expected in the fourth quarter and beat cash flow estimates at its NBC Universal media unit, sending shares up more than 1 percent.

  • *Investors look to Turkey central bank policy meeting. NEW YORK, Jan 28- Stock markets steadied on Tuesday after three days of intense selling as investors waited to see if Turkey, one of the epicenters of the recent rout, would hike interest rates to defend its battered lira.

  • LONDON/ NEW YORK, Jan 28- A sell-off on emerging markets is likely to flush out many of the remaining carry trade investors who went there in search of higher returns, and this shift should boost more liquid currencies such as the dollar, yen and Swiss franc.

  • European car sales to end six-year decline Tuesday, 28 Jan 2014 | 12:44 PM ET

    BRUSSELS, Jan 28- Europe is set to end six years of falling auto sales in 2014 with a 2 percent increase in passenger car registrations, the Association of European Carmakers said on Tuesday. New car registrations in the European Union fell 1.7 percent last year to 11.85 million, the lowest level since 1995, when the EU had only 15 countries compared with 28 now.

  • NEW YORK, Jan 28- The dollar rose modestly against the yen and euro on Tuesday as investors stepped back into stock and emerging markets whose recent sell-off drove money into safehaven currencies.

  • WASHINGTON, Jan 28- President Barack Obama will lay out a strategy for getting around a divided Congress and boosting middle-class prosperity on Tuesday in a State of the Union speech that reflects scaled-back legislative ambitions after a difficult year.

  • LONDON/ NEW YORK, Jan 28- Shareholders of both Vodafone and Verizon Communications Inc approved Verizon's $130 billion takeover of their Verizon Wireless venture on Tuesday, paving the way for the third biggest deal in corporate history.

  • Jan 28- Pfizer Inc reported better-than-expected fourth-quarter results, helped by higher sales of drugs for cancer, nerve pain and arthritis, and forecast 2014 earnings in line with Wall Street estimates.

  • NAIROBI, Jan 28- Kenyan President Uhuru Kenyatta has defended the tender for a multibillion-dollar railway project that was won by a Chinese company and sparked widespread criticism over the transparency of the process.