Latest Business News Wires - Business Headlines


  • China's plan for iron ore giants hard to make the grade Wednesday, 16 Apr 2014 | 5:06 AM ET

    *China plans 6-8 big iron ore miners to rely less on imports. SHANGHAI, April 16- China's bid to slash its dependence on foreign iron ore miners by creating its own mega producers risks running aground before it starts due to high costs and poor quality of ore.

  • Hypo bank woes poison the mood in Austria Wednesday, 16 Apr 2014 | 4:58 AM ET

    VIENNA, April 16- Hypo Alpe Adria, the state bank whose woes will swell Austria's debt and deficits this year, is morphing into a national bogeyman for a country fed up with the lender's chronic need for support and policymakers' failure to resolve the issue.

  • *Tension rises on eve of four-power talks on Ukraine in Geneva. *Moscow, Kiev trade charges of "civil war" and "terrorism".

  • *Sees H1 sales of 3 bln euros including EUV sales. AMSTERDAM, April 16- ASML, the world's biggest manufacturer of tools for semiconductor chip makers, trimmed its first-half sales forecast on Wednesday, blaming slower second-quarter sales to some customers. ASML had previously forecast sales of 3 billion euros excluding the EUV systems.

  • LONDON, April 16- Tesco, Britain's biggest retailer, said it would slash millions of pounds off prices to win back customers as a second year of falling profit stepped up pressure on chief executive Philip Clarke to quit. Tesco has suffered in recent years from failed attempts to break into the United States and Japan and a costly expansion in China.

  • BEIJING/ WASHINGTON, April 16- China rejected on Wednesday a warning from the Obama administration that its currency was too weak, urging the United States to recognise that China aims to "perfect and regulate" the exchange rate system.

  • FOREX-Yen down on pension fund comments, UK wages eyed Wednesday, 16 Apr 2014 | 4:15 AM ET

    LONDON, April 16- The yen fell against the dollar and the euro on Wednesday, hit by comments by Japan's finance minister that traders took as a sign of future buying by its giant state pension fund of Tokyo stocks.

  • Hong Kong shares close up slightly after China GDP data Wednesday, 16 Apr 2014 | 4:13 AM ET

    BEIJING, April 16- Hong Kong shares finished slightly up on Wednesday, with investors relieved about China's slightly better-than-expected economic growth, which eased fears of a dramatic slowdown. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was also up 0.1 percent.

  • European shares bounce back as Chinese data reassure Wednesday, 16 Apr 2014 | 4:11 AM ET

    *Euro STOXX 50 up 0.9 pct, moves back above 50- day moving average. *Credit Suisse, Danone drop after posting lower results. PARIS, April 16- European shares rose early on Wednesday, reversing the previous session's losses as data showed economic growth in China a touch above forecasts, while gains in Tesco also lifted markets.

  • Australia, however, is apparently just such a place. Experts say that the resignation on Wednesday of New South Wales premier Barry O'Farrell over the gift of a bottle of wine is a sign of a political culture that has become allergic to even the whiff of corruption.

  • *Nikkei leads the way, encouraged by late rally on Wall St. *UK, euro zone data in focus, Ukraine tensions simmer. LONDON, April 16- Share markets made broad gains on Wednesday after China reported economic growth a touch above forecasts, a relief for investors who had feared a much weaker outcome.

  • Australia, however, is apparently just such a place. Experts say that the resignation on Wednesday of New South Wales premier Barry O'Farrell over the gift of a bottle of wine is a sign of a political culture that has become allergic to even the whiff of corruption.

  • Mercedes to revive luxury Maybach brand Wednesday, 16 Apr 2014 | 3:42 AM ET

    FRANKFURT, April 16- Daimler is set to revive Maybach, a brand once coveted by oligarchs, rap stars and royals, to woo a growing class of ultra-wealthy clients in Asia and the United States, a person familiar with the company's plans said.

  • KRAMATORSK, Ukraine, April 16- Ukrainian forces tightened their grip on the eastern town of Kramatorsk on Wednesday after securing control over an airfield from pro-Russian separatist militiamen, prompting Russian President Vladimir Putin to warn of the risk of civil war.

  • Japanese Internet firms offer something new: high returns Wednesday, 16 Apr 2014 | 3:29 AM ET

    TOKYO, April 15- Some Japanese Internet companies are getting a boost from foreign investors as Prime Minister Shinzo Abe pushes for an elusive strength his country's firms are not known for- high returns.

  • BEIJING, April 16- China shares closed a touch higher on Wednesday after slightly better-than-expected first-quarter growth data eased worries about a dramatic slowdown in the Chinese economy. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 0.1 percent.

  • UPDATE 2-BOJ's Kuroda maintains positive view on economy Wednesday, 16 Apr 2014 | 3:28 AM ET

    *Japan making headway in meeting price goal-Kuroda. TOKYO, April 16- Bank of Japan Governor Haruhiko Kuroda on Wednesday affirmed the central bank's upbeat view of the economy, even as global financial markets wobble, stressing that growth will pick up around mid-year as the sting of a sales tax hike fades.

  • BEIJING, April 16- China said on Wednesday that it will push forward with reform of its renminbi exchange rate mechanism after the United States criticised Beijing for keeping its currency weak.

  • *Shares in Alibaba shareholders Yahoo, Softbank jump. SAN FRANCISCO, April 15- Alibaba Group Holding Ltd's revenue growth accelerated in the last quarter of 2013, a timely lift for the Chinese Internet company as it prepares to file a prospectus next week for its highly anticipated initial public offering.

  • TOKYO, April 16- Fukoku Mutual Life Insurance, Japan's eighth-largest insurer in terms of assets, plans to raise its holdings in Japanese equities for the first time since the global financial crisis in 2008, a senior official said on Wednesday.