Latest Business News Wires - Business Headlines


  • NEW YORK, June 4- U.S. stocks rose on Wednesday, with the S&P 500 hitting another intraday record high as investors brushed off weaker-than-expected labor market data and focused on an acceleration in services-sector growth.

  • UAW elects Dennis Williams as president Wednesday, 4 Jun 2014 | 2:06 PM ET

    DETROIT, June 4- The United Auto Workers union elected Dennis Williams to a four-year term as its president on Wednesday. He faces difficult 2015 contract talks with the three major U.S. automakers, General Motors Co, Ford Motor Co and Chrysler, a unit of Fiat Chrysler Automobiles, as UAW members will press for the elimination of a two-tiered wage scale.


  • LONDON, June 4- Britain's finance minister George Osborne voiced confidence on Tuesday that politicians and regulators from major economies will achieve a framework for sorting out problems with bank regulation within six months.

  • NEW YORK, June 4- Brent crude turned lower, and U.S. crude pared gains on Wednesday on news that Ukraine's president-elect was working on a peace plan and that a meeting with Russia's leader this week in France was not being ruled out. Brent crude for July delivery was down 21 cents at $108.61 a barrel at 1:24 p.m. EDT.

  • NEW YORK, June 4- U.S. shares rebounded slightly on Wednesday after strong data on the U.S. services sector, while soft European economic data weighed on European equities and weakened the euro a day ahead of a closely watched European Central Bank policy meeting.

  • LONDON, June 4- Two men who tricked hundreds of British investors into buying inflated or worthless shares in a 70 million-pound "boiler-room" scam were convicted in a London court on Wednesday.

  • NEW YORK, June 4- An Australian man avoided prison when he was sentenced on Wednesday in New York for illegally processing gambling proceeds through U.S. banks for several major Internet betting sites. District Judge Lewis Kaplan in Manhattan imposed a sentence of time served and a $13 million forfeiture on Wednesday.

  • LONDON, June 4- Britain's finance minister George Osborne voiced confidence on Tuesday that politicians and regulators from major economies will achieve a framework for sorting out problems with bank regulation within six months.

  • *Germany avoids third straight auction failure. LONDON, June 4- German bond yields rose to near two-week highs on Wednesday after strong U.S. services sector data overshadowed weaker than expected private sector jobs data to show solid growth in the world's biggest economy.

  • June 4- British drugmaker GlaxoSmithKline Plc has agreed to pay $105 million to settle allegations by 44 U.S. states and the District of Columbia that it promoted its medicines for unapproved uses, several states attorneys general announced on Wednesday.

  • WARSAW/ PARIS, June 4- French President Francois Hollande said on Wednesday he will raise concerns about a possible $10 billion- plus U.S. fine on BNP Paribas that he considers "disproportionate" with his U.S. counterpart Barack Obama.

  • WASHINGTON, June 4- U.S. companies hired far fewer workers than expected in May, but an acceleration in services sector growth supported views the economy was regaining strength after sagging early this year.

  • *Days of heavy fighting in eastern Ukraine. President Barack Obama endorsed Ukraine's president-elect Petro Poroshenko on Wednesday, offering Kiev financial and security help and saying he was the right choice to lead the country through its stand-off with Moscow.

  • DETROIT, June 4- General Motors Co will hold a news conference on Thursday at which it is expected to release the findings of the company's internal probe into why it took so long to discover a defective ignition switch linked to at least 13 deaths.

  • LATAM Airlines threatened by strike on eve of World Cup Wednesday, 4 Jun 2014 | 12:49 PM ET

    SANTIAGO/ LIMA, June 4- Maintenance workers for LATAM Airlines have threatened to delay or cancel flights throughout South America in support of a strike by Peruvian colleagues in the days ahead of the World Cup.

  • *China traders jittery over financing after Qingdao probe. *Copper cash-to-three backwardation eases to $50/ T. LONDON, June 4- Copper dropped to a three-week low on Wednesday, in its biggest one-day fall since mid- April, on jitters about the impact on financing deals from a probe at a Chinese port.

  • Kerry, on a brief visit to Beirut, also announced more aid to help Lebanon and other countries in the region struggling to cope with millions of Syrian refugees.

  • ASTRAKHAN, Russia, June 4- President Vladimir Putin said on Wednesday that Russia should consider recapitalising state gas company Gazprom after a $400 billion deal with China which will require multi-billion-dollar investments in pipelines and new fields.

  • Unifor President Jerry Dias said at the United Auto Workers convention in Detroit that the Canadian union would "shut down GM" at its Oshawa plant, which gets interiors and seats from Whitby, unless JCI changes its plans. Dias said the deadline for JCI to act is August, when the current contract for 300 workers at Whitby expires.