Latest Business News Wires - Business Headlines


  • TIMELINE-Ackman and Valeant maneuver for Allergan Tuesday, 1 Jul 2014 | 2:02 PM ET

    July 1- Valeant Pharmaceuticals International Inc has teamed up with Pershing Square Capital Management, led by activist investor William Ackman, to make a run at Botox maker Allergan Inc. Here are the details of some of the most interesting steps along the way.

  • NEW YORK, July 1- Wall Street rose on Tuesday, with the Dow within a whisker of a 17,000 milestone and the S&P 500 at yet another record, as manufacturing activity picked up in the U.S. and Asia and boosted optimism about the health of the global economy.

  • Citi buys Deutsche Bank's U.S. power trading books Tuesday, 1 Jul 2014 | 1:25 PM ET

    July 1- Citigroup Inc has bought Deutsche Bank AG's U.S. power trading books, the latest move by the U.S. bank to build its energy trading business as other Wall Street rivals retreat, two sources said on Tuesday. The sources said Deutsche sold two power trading books to Citi last week covering the ERCOT region in Texas and the East and Midcontinent.

  • SAN FRANCISCO, July 1- Initial public offerings for venture-backed companies slowed in the second quarter but the value of the transactions climbed to nearly $5 billion on the back of some outsized deals, making it one of the strongest quarters in recent years.

  • NEW YORK, July 1- Bankrupt wireless venture LightSquared on Tuesday revealed a new restructuring proposal that would cede 74 percent of its equity to a new investor group that includes JPMorgan Chase& Co, Cerberus Capital Management and Fortress Investment Group.

  • WASHINGTON, July 1- U.S. manufacturing activity rose at a steady clip in June and major automakers reported better-than-expected sales, pointing to momentum in the economy after a turbulent start to the year.

  • GENEVA, July 1- The number of deaths attributed to an epidemic of Ebola virus in Guinea, Liberia and Sierra Leone stood at 467 by Monday, out of 759 known cases in total, the World Health Organization said on Tuesday.

  • NYSE, owned by Intercontinental Exchange Inc, said in a note to traders on Tuesday it would allow firms to test their trading software ahead of the initial public offering of Alibaba on July 12 for a listing on the New York Stock Exchange.

  • July 1- Buyout firm Berkshire Partners LLC is in advanced talks to acquire Portillo's Restaurant Group, the largest privately owned restaurant chain in the U.S. Berkshire Partners has outbid other private equity firms for the Chicago- based restaurant group, the sources said on Tuesday.

  • WASHINGTON, July 1- President Barack Obama told his Cabinet on Tuesday to look for areas where he might be able to govern by executive action given gridlock in Congress that is hampering his agenda.

  • July 1- Bristol-Myers Squibb Co said it was voluntarily recalling six lots of the injectable version of its blood thinner, Coumadin, in the United States, after particulate matter was found in some unreleased samples.

  • *France targets 2014 public deficit at 3.8 pct of GDP. PARIS, July 1- France's lower house of parliament backed a supplementary budget for 2014 by a large majority on Tuesday, a relief for President Francois Hollande as his Socialist party managed, for now, to contain opposition within its own ranks.


  • NEW YORK, July 1- HSBC Holdings Plc agreed to pay $10 million to settle U.S. government charges that it defrauded taxpayers by submitting inflated bills to process residential foreclosures.

  • *Copper stocks rise for first time in a month. *Indonesia's biggest tin miner halts exports for two weeks. "I think we're seeing a bit of profit taking and also some producer activity," said analyst Robin Bhar at Societe Generale in London.

  • July 1- Twitter Inc named Anthony Noto as CFO, putting the well-regarded former Goldman Sachs executive who led its successful November IPO in charge of finances. Twitter shares rose as much as 4.8 percent after the messaging service announced its latest upper-management shake-up.

  • NEW YORK, July 1- Morgan Stanley wants to pay out a smaller portion of wealth management revenue to the retail brokers who generate it, the final and perhaps most difficult front in Chief Executive James Gorman's drive to reduce staff costs across the bank.

  • *Now sees adj EBITDA at 380- 400 mln eur vs 419 mln in 2013. FRANKFURT, July 1- Shares in Bilfinger slumped on Tuesday after the German engineering and services group issued a profit warning and said it would have to restructure its power business, entailing "significant" job losses.

  • *Manufacturing picks across Asia, South Korea lags. New York, July 1- Manufacturing activity in the United States and in Asia's industrial powerhouses China and Japan expanded further in June but euro zone growth faltered as main motor Germany slowed.

  • CAPE TOWN, July 1- South Africa's Labour Court issued an order on Tuesday barring the NUMSA union from striking at power utility Eskom's plants, a spokesman for the electricity firm said.