Latest Business News Wires - Business Headlines


  • NEW YORK, March 13- Cotton is no longer king of the U.S. apparel industry as lower prices fail to revive consumer demand and once-mocked man-made fibers take a permanent place in American wardrobes.

  • WASHINGTON, March 13- A rare U.S. test of its strategic oil reserves may be just coincidentally timed with the most serious stand-off with Russia in decades, but the underlying message of the move announced on Wednesday left little doubt: Prepare for the rise of a new global energy superpower.

  • SHANGHAI, March 13- China's yuan rose against the dollar on Thursday as the central bank set a slightly stronger midpoint for the first time in four days, a move traders said that shows the government is keeping the currency stable.

  • *Shanghai copper to retrace to 44,090 yuan. SINGAPORE, March 13- Shanghai and London copper futures gave up early gains on Thursday, sitting not far off multi-year lows on concerns about China's economic slowdown and high inventory in the world's top consumer of the industrial metal.

  • WRAPUP 1-China Premier Li downplays debt risks Thursday, 13 Mar 2014 | 12:15 AM ET

    BEIJING, March 13- China Premier Li Keqiang signalled that his government will not ride to the rescue of every troubled investment by saying some loan defaults are "hard to avoid" in what he called a challenging economic environment.

  • JGBs slip, futures pare losses after sharp morning drop Thursday, 13 Mar 2014 | 12:06 AM ET

    TOKYO, March 13- Japanese government bond prices slipped on Thursday, while JGB futures briefly fell as much as one point, on what appeared to be a single order, before paring losses. The Bank of Japan offered to buy a total of 570 billion yen in JGBs in two operations.

  • March 13- J.C. Penney Co Inc is about to undo the centerpiece of former Chief Executive Officer Ron Johnson's failed vision to take the retailer upmarket. The retailer wants to recapture former clients and go head to head with rivals like Target Corp and Kohl's Corp..

  • Treasury debt, much of it offshore, earning them tax-free interest, the UK's Bureau of Investigative Journalism said on Thursday. The finding means Apple Inc, Microsoft Corp, Google Inc and Cisco Systems Inc hold a large proportion of the $254.9 billion held in their foreign subsidiaries in U.S.

  • March 13- Readers of some of the top U.S. news sites are more engaged when they go directly to the website rather than through Facebook, according to a study from the Pew Research Center released on Monday. Direct visitors also view about five times as many pages per month as those coming through Facebook referrals or through search engines such as Google Inc..

  • BEIJING, March 13- China will continue to support Hong Kong's position as a global financial hub, Chinese Premier Li Keqiang said on Thursday, reassuring the investment community in the former British colony as it adjusts to the rise of Shanghai. Li made the remarks to reporters at the closing of the country's annual parliamentary session on Thursday.

  • *Vietnam, Malaysia send planes to check latest report of debris sighting. At the same time, China heaped pressure on Malaysia to improve its coordination over the search for the Malaysia Airlines plane, which disappeared early on Saturday on a flight from Kuala Lumpur to Beijing.

  • *Concerns over Ukraine, China slowdown and copper rout sap risk appetite. *China retail sales, industrial output and fixed investment data immediate focus.

  • World Bank panel rejects Venezuela's appeal over Conoco Wednesday, 12 Mar 2014 | 11:08 PM ET

    CARACAS, March 12- A World Bank panel has rejected Venezuela's request for a new hearing to contest a 2013 partial ruling that it failed to act in good faith regarding negotiations to compensate U.S. oil company ConocoPhillips for expropriations. It also limited the scope of ConocoPhillips' claims by excluding future tax credits.

  • FOREX-Safe-haven yen, franc in favour, Antipodeans surge Wednesday, 12 Mar 2014 | 11:04 PM ET

    *Yen and Swiss well bid as China, Ukraine worries fester. *China industrial production and retail sales data eyed. SYDNEY/ TOKYO, March 13- Safe-haven currencies the yen and Swiss franc were in favour on Thursday, consolidating their overnight gains as worries about the health of the Chinese economy and the ongoing crisis in Ukraine took a toll on risk appetite.

  • HIGHLIGHTS-Comments from Chinese Premier Li Keqiang Wednesday, 12 Mar 2014 | 10:54 PM ET

    BEIJING, March 13- Following are comments from China's Premier Li Keqiang at his news conference on the final day of China's yearly meeting of parliament:. "This is an international and large-scale search operation involving many countries.

  • MELBOURNE, March 13- Origin Energy, in charge of coal seam gas drilling for the Australia Pacific liquefied natural gas project, said on Thursday it had stopped work at 12 sites in Queensland state as asbestos had been found in drilling fluids it was using.

  • Brent firms above $108 on supply risks, demand outlook Wednesday, 12 Mar 2014 | 10:25 PM ET

    *Asian shares on defensive as China fears rattle commodities. SINGAPORE, March 13- Brent futures inched higher on Thursday, holding above $108 a barrel, as investors focused on risks from the unfolding crisis in Ukraine and as OPEC raised its 2014 global oil demand growth forecast for a second straight month.

  • WELLINGTON, March 13- New Zealand's central bank raised interest rates on Thursday and signalled an aggressive tightening this year, taking the lead among developed economies in lifting rates off record lows as it tries to quell inflation pressures in an outperforming economy.

  • MELBOURNE, March 13- Origin Energy, in charge of coal seam gas drilling for the Australia Pacific liquefied natural gas project, said on Thursday it had stopped work at 12 sites in Queensland state as asbestos had been found in drilling fluids it was using.

  • TOKYO, March 13- Japan's Nikkei share average edged up on Thursday morning after falling to a one-week low on the previous day as strong machinery data supported sentiment as far as metal shares, which remained pressured on persistent concern about Chinese demand.