Latest Business News Wires - Business Headlines


  • *Some foreign firms rethinking investment in Turkey. The weak currency is also denting profits made by foreign firms in Turkey, and deterring overseas investors who fear that uncertainty over monetary policy and domestic politics is creating too great a risk.

  • *MSCI world stock index at lowest level in more than month. NEW YORK, Jan 27- Emerging market equities posted their largest drop in five months on Monday to lead a global stocks sell-off, while Wall Street pared early gains as sentiment continued to sour.

  • DETROIT, Jan 27- U.S. safety regulators opened an investigation into an estimated 30,000 Toyota Camry hybrid electric sedans after receiving numerous consumer complaints about braking problems.

  • Jan 27- Southwest Airlines Co said on Monday it will start flights to Aruba, the Bahamas and Jamaica in July, its the first international flights under the Southwest brand.

  • The SEC's five commissioners are weighing a proposal to reduce the risk of runs on money market funds, like the one seen in 2008 when the Reserve Primary Fund's net asset value fell below $1 per share as panicked investors withdrew money to avoid exposure to Lehman Brothers.

  • *Caterpillar profit stronger than expected, shares rally. The Dow industrial average was outperforming the broader market thanks to Caterpillar Inc which reported better-than-expected results.

  • *ECB conducts Asset Quality Review for 130 banks. LONDON, Jan 27- The euro zone's grand plan to clean up its banks could falter because the European Central Bank lacks the power to force bankers, constrained by accounting rules, to accept regulators' view of the risks on their books. Estimates of the banks' total capital shortfall have been as high as $1 trillion.

  • *FTSEurofirst 300 down 0.5 pct, Euro STOXX 50 eases 0.1 pct. *Vodafone falls as AT&T says no plans to bid for Vodafone. The STOXX Europe 600 Telecoms Index also fell 1 percent, with Vodafone dropping 3.3 percent after U.S. mobile operator AT&T said it was not planning to take over Vodafone.

  • UPDATE 1-U.S. Steel wins Supreme Court labor fight Monday, 27 Jan 2014 | 10:43 AM ET

    WASHINGTON, Jan 27- The U.S. Supreme Court ruled on Monday that employees at a U.S. Steel Corp plant do not have to be paid for the time they spend "donning and doffing" safety gear before and after their shifts.

  • TORONTO, Jan 27- Hudson's Bay Co said on Monday that it would sell its flagship downtown Toronto store and neighboring executive offices for C $650 million to Cadillac Fairview Corp and open a full-line Saks store in the leased-back space.

  • Jan 27- Caterpillar Inc posted a stronger-than-expected quarterly profit on Monday as cost cuts and an uptick in demand for its building equipment offset continued weak sales to the mining industry.

  • JERUSALEM, Jan 27- Banking applications on Android phones are most vulnerable to cyber crime, the chief executive and co-founder of Russian anti-virus software maker Kaspersky Lab said on Monday. Eugene Kaspersky said 99 percent of mobile attacks are towards Android-based phones, since Apple has strict controls and does not allow third-party applications.

  • Jan 27- Chinese online game developer Shanda Games Ltd received a buyout offer from its controlling shareholders that values the company at $1.9 billion, highlighting the growing popularity of online gaming in China. Shanda Games shares were up 12 percent at $6.34 in morning trading on Monday. Shanda Games said its board was reviewing the offer.

  • BRUSSELS/ LONDON, Jan 27- Europe will consider how to challenge the dominance of its big banks this week, but any new rules to isolate risky trading will take years to begin and there will be no attempt to split off market betting from deposit taking.

  • *New single family home sales fall 7.0 percent in December. WASHINGTON, Jan 27- Sales of new U.S. single-family homes fell more than expected in December, but lean inventories and steady price gains suggested sufficient strength in the housing market to support the economy.

  • *Markets fear impact of China's credit tightening. LONDON, Jan 27- Copper hit its lowest in seven weeks on Monday, hurt by concerns about top consumer China's economic slowdown and its shadow banking sector, coupled with expectations the U.S.

  • DETROIT, Jan 27- U.S. safety regulators opened an investigation into an estimated 30,000 Toyota Camry hybrid electric sedans after receiving numerous consumer complaints about braking problems.

  • LONDON, Jan 27- Brent oil futures fell towards $107 a barrel on Monday as investors dumped risky assets over worries about weaker emerging market economies, but U.S. crude held up due to a spell of cold weather. "There is quite a lot of uncertainty creeping in here," said Ole Hansen, senior commodity strategist at Saxo Bank.

  • WASHINGTON, Jan 27- The U.S. Supreme Court on Monday declined to hear an appeal from a radiologist seeking to reinstate a $482 million patent infringement award he had won against Cordis Corp..

  • Career Education gets inquiry from attorneys general Monday, 27 Jan 2014 | 10:03 AM ET

    Jan 27- For-profit education company Career Education Corp said it received inquiries from 12 state attorneys general related to its enrollment practices and student loans. The U.S. Consumer Financial Protection Bureau said earlier this month that it was considering legal action against Corinthian Colleges Inc over issues related to student loans.