Latest Business News Wires - Business Headlines


  • NEW YORK, Sept 10- Accounting firms PricewaterhouseCoopers and Crowe Horwath must face a lawsuit accusing them of professional malpractice and breach of contract for not catching a fraud that led to the 2009 collapse of Colonial Bank, a federal judge has ruled.

  • *Eldest daughter Ana Botin to succeed- sources. MADRID, Sept 10- Banco Santander named Ana Botin as its new head on Wednesday after her father Emilio's sudden death, making her one of the top women in banking and continuing her family's century-old management of what is now the euro zone's biggest lender.

  • ZURICH/ FRANKFURT, Sept 10- Apple Inc's iPod upended the music industry, and its iPhone knocked Nokia off its smartphone perch, but Swiss watch makers breezily dismissed warnings that the technology giant's new wristwatch gadget could do something similar to them.

  • NEW YORK, Sept 10- Healthcare stocks, high-quality small-cap companies, and Mexican bonds are among the assets most likely to beat passive indexes in the year ahead, according to portfolio managers who presented at the Legg Mason Investor Day in New York on Wednesday.

  • Sept 10- Apple Inc's unveiling of larger iPhones and a mobile payments service led to contrasting fortunes for GT Advanced Technologies Inc and On Track Innovations Ltd.. Shares of GT Advanced plunged a second day on Wednesday after it emerged that the company's scratch-resistant sapphire glass had been left out of Apple's new large-screen iPhones.

  • The U.S. Securities and Exchange Commission said on Wednesday that the defendants included well-known companies such as Starwood Hotel& Resorts Worldwide Inc, Jones Lang LaSalle Inc and Royal Bank of Scotland.

  • New EU economy team to seek policy middle-ground Wednesday, 10 Sep 2014 | 1:54 PM ET

    BRUSSELS, Sept 10- The new European Commission will spread responsibility for key economic issues over three top officials with different economic views, in what critics say could mean policy deadlock but advocates see as a route to compromise.

  • US STOCKS-Wall St gains, snapping bout of weakness Wednesday, 10 Sep 2014 | 1:50 PM ET

    NEW YORK, Sept 10- U.S. stocks were higher on Wednesday, with shares erasing early losses on the back of strength in technology shares, which offset continued weakness in energy names.

  • NEW YORK, Sept 10- A New York state pension fund has given Goldman Sachs Group Inc $2 billion to invest with outside managers, Goldman and the fund said in a statement on Wednesday, a first for a fund that has traditionally picked managers itself.

  • Volkswagen global labour reps back UAW at Tennessee plant Wednesday, 10 Sep 2014 | 1:44 PM ET

    FRANKFURT, Sept 10- Volkswagen AG's global works council is backing renewed efforts by the United Auto Workers in the United States to represent workers at the German carmaker's Tennessee plant.

  • *Russia's United Aircraft Corporation on the sanctions list. BRUSSELS/ BERLIN, Sept 10- European Union envoys failed on Wednesday to reach a decision on whether to implement new sanctions against Russia over military involvement in the war in Ukraine and will meet for talks on Thursday, EU diplomats said.

  • California to mandate paid sick leave under new law Wednesday, 10 Sep 2014 | 1:37 PM ET

    SACRAMENTO, Calif., Sept 10- California businesses will have to provide paid sick leave to most employees under a bill signed on Wednesday by Democratic Governor Jerry Brown, the latest move to aid low-income workers in the most populous U.S. state.

  • DETROIT, Sept 10- A federal judge on Wednesday put the landmark trial on Detroit's plan to exit bankruptcy on hold until Monday, as the city neared a deal with one of its most formidable hold-out creditors. Syncora, which emerged as Detroit's fiercest opponent in the bankruptcy proceedings, forged a deal that its attorney, Ryan Bennett at Kirkland& Ellis, told U.S.

  • LONDON, Sept 10- An independent Scotland would need big stockpiles of sterling if the country adopted the pound without an agreement with the rest of the United Kingdom, Bank of England Governor Mark Carney said on Wednesday.

  • BERLIN, Sept 10- Euro zone governments should explore ways to boost investment levels but structural reforms and debt reduction remain crucial for returning the bloc to a sustainable growth path, a paper prepared by the German and French finance ministers says.

  • Vestager will have to take on powerful companies such as U.S. internet giant Google, Russia's Gazprom and a clutch of banks suspected of rigging the foreign exchange markets.

  • *Saudi says cuts output, but overall OPEC supply rises. NEW YORK, Sept 10- U.S. crude futures fell to a 16- month low and Brent to a 17- month low on Wednesday on rising supply and tepid demand and as OPEC lowered projected demand for its crude and data showed U.S. refined product stocks jumped.

  • CHICAGO, Sept 10- Retail giant Wal-Mart joined a group of volunteers counting corn ears and soybean pods in fields in the United States recently in a clear sign traditional crop tours are expanding their appeal from farmers and traders to all those with a stake in the U.S. food chain.

  • NEW YORK, Sept 10- Social media stocks were higher on Wednesday, with Twitter Inc up 4.4 percent to $52.86 on heavy volume after UBS upgraded the stock to "buy" and lifted its price target by $15 to $65. The firm also lifted its targets on LinkedIn Corp, to $260 from $235, and on Facebook Inc by $1 to $95.

  • *Eldest daughter Ana Botin to succeed- sources. MADRID, Sept 10- Banco Santander quickly appointed Ana Botin as its new head on Wednesday after her father Emilio's sudden death, continuing the Botin family's century-old management of the lender which now ranks as the euro zone's largest bank.