Latest Business News Wires - Business Headlines


  • April 1- The U.S. Food and Drug Administration found contamination of drug ingredients manufactured at a GlaxoSmithKline Plc plant in Ireland and said the company did not take sufficient action to resolve the problems.

  • FOREX-Dollar weakens ahead of Friday's jobs data Tuesday, 1 Apr 2014 | 11:37 AM ET

    NEW YORK, April 1- The dollar eased on Tuesday as currency traders looked ahead to key U.S. jobs data due Friday and shrugged off a report showing growth at U.S. factories accelerating. The euro was up against the dollar by 0.26 percent in New York trading to $1.3810. "The focus is on U.S. data," said Shaun Osborne, foreign exchange strategist at TD Securities in Toronto.

  • COLUMN-No winners from LME's legal setback: Andy Home Tuesday, 1 Apr 2014 | 11:36 AM ET

    LONDON, April 1- Oh dear! The British High Court judge found the LME's consultation on forcing its warehouse operators to link load-in and load-out rates was "legally unfair". Even the victor of the High Court case, Rusal, has little to crow about.

  • CHICAGO, April 1- Chicago Mayor Rahm Emanuel proposed raising property taxes and reducing retirement benefits for some city workers in order to ease a severe pension funding problem, according to details of the plan released by his office on Tuesday. Chicago warned that the two systems face insolvency within nine to 17 years.

  • MEXICO CITY, April 1- Mexico's manufacturing sector sentiment declined in March for the second month in a row, a survey showed on Tuesday, but the index still pointed to growth. "This result suggests that the manufacturing sector will keep on growing, but probably at a slower pace," said Sergio Martin, chief economist at HSBC in Mexico.


  • LAUSANNE, April 1- The world's regulators should stop worrying whether trading houses are "too big to fail" and focus instead on ensuring that new rules are not forcing far too many deals through clearing houses, major commodity traders said on Tuesday.

  • Global factory growth lost momentum in March -PMI Tuesday, 1 Apr 2014 | 11:18 AM ET

    LONDON, April 1- Global manufacturing growth lost momentum last month as new orders came in at a slower pace but factories increased staffing to meet the continued expansion, a business survey showed on Tuesday. JPMorgan's Global Manufacturing Purchasing Managers' Index dipped to 52.4 in March from 53.2.

  • BERLIN, April 1- Germany's governing coalition has agreed the outlines of an 8.50 euro per hour minimum wage to be introduced next year, covering all but the roughly one million long-term unemployed, sources close to the talks said on Tuesday.

  • UPDATE 2-Marvell patent verdict grows to $1.54 billion Tuesday, 1 Apr 2014 | 11:15 AM ET

    April 1- A federal judge ordered Marvell Technology Group Ltd to pay nearly $1.54 billion to Carnegie Mellon University for selling billions of semiconductors that infringed the school's two hard disk drive patents.

  • FRANKFURT, April 1- Ailing German public-sector lender HSH has cut its exposure to bad shipping loans by striking a debt restructuring deal involving the merger of debtor Ahrenkiel and two of its shipping peers.

  • *Russia, West in standoff over Ukraine. *Rosneft building LNG plant with ExxonMobil. MOSCOW, April 1- Russia's Rosneft, said on Tuesday it was on track to start production at its first liquefied natural gas plant in the country's far east in 2018-2019, despite East-West tension over Ukraine.

  • LONDON, April 1- Fuzzy guidelines on ethical investing and donors' timid response to Uganda's new anti-gay law have reassured fund managers and private equity firms about continuing to invest in the newly oil-rich country, despite worldwide criticism. The White House said it was reviewing its relationship with Uganda's government.

  • *Greece not considering follow-up international aid deal. April 1- Greece, fully funded for the next 12 months, hopes to finance itself on the market afterwards, but its euro zone peers say success depends on whether Athens delivers on the reforms it has promised so far.

  • April 1- GrubHub Inc, the largest U.S. online food delivery services company, raised the expected price range for its initial public offering to $23- $25 per share from $20- $22. GrubHub, backed by Spectrum Equity, Benchmark Capital and Warburg Pincus, is valued at about $1.95 billion at the top end of its expected price range.

  • UPDATE 2-U.S. auto sales inch higher in March Tuesday, 1 Apr 2014 | 10:56 AM ET

    Ford Motor Co reported a 3 percent rise in U.S. sales; Toyota Motor Corp a 5 percent rise; and Chrysler Group, a unit of Fiat Chrysler Automobiles, a 13 percent increase from a year ago.

  • OTTAWA, April 1- The Transportation Safety Board of Canada renewed its call on Tuesday for the speedy phase-out of older oil-by-rail cars in light of last summer's inferno that killed 47 people in an oil train explosion in the Quebec town of Lac-Megantic.

  • NEW YORK, March 31- Credit investment and private equity firm Ares Management LP filed to go public on Monday in what would be the first initial public offering by a major alternative asset manager since Carlyle Group LP's flotation two years ago.

  • Food delivery firm GrubHub raises IPO price range Tuesday, 1 Apr 2014 | 10:47 AM ET
    GrubHub home page

    GrubHub, the largest U.S. online food delivery services company, raised the expected price range for its initial public offering.