Latest Business News Wires - Business Headlines



  • PARABIAGO, Italy, April 30- The three brothers who own Fratelli Rossetti would consider selling part of the Italian luxury shoemaker to fund future expansion, while keeping the business founded by their father firmly under family control.

  • *Deal will help Exelon sell more power at regulated rates. *Exelon shares fall 5 pct, Pepco up 18 pct. April 30- Exelon Corp said it would buy Pepco Holdings Inc for $6.83 billion, helping it overtake Duke Energy Corp as the biggest power distribution company in the United States.

  • WASHINGTON, April 30- U.S. mortgage financiers Fannie Mae and Freddie Mac may require as much as $190 billion in additional taxpayer aid if the economy suffers a severe downturn, their regulator said on Wednesday.

  • "The more we learn about the challenges of cybersecurity and the costs of failure, the more apparent the importance of addressing this challenge with best efforts, including yours," Tom Wheeler, chairman of the Federal Communications Commission, said at the cable industry trade show in Los Angeles.

  • April 30- Time Warner Inc raised its full-year earnings forecast after the box-office success of "The Lego Movie" and the popularity of HBO shows such as "Game of Thrones" and "True Detective" led to a near-doubling of quarterly profit.

  • UPDATE 2-Phillips 66 profit tops street, shale boom helps Wednesday, 30 Apr 2014 | 1:49 PM ET

    Phillips, based in Houston, had a first-quarter profit of $1.6 billion, or $2.67 per share, compared with $1.41 billion, or $2.23 a share, in the same quarter of 2013..

  • UPDATE 1-Fed board met on monetary policy ahead of FOMC Wednesday, 30 Apr 2014 | 1:47 PM ET

    WASHINGTON, April 30- The Federal Reserve Board disclosed that it met on Tuesday morning in an unusual gathering ahead of a two-day meeting of the Federal Open Market Committee, the U.S. central bank's official policymaking panel. The last time the Fed board held such a meeting was in December 2011.

  • African sugar producers says smuggling is a major problem Wednesday, 30 Apr 2014 | 1:47 PM ET

    MOMBASA, Kenya, April 30- Africa's sugar producers want governments to tighten border controls across the continent and tackle sugar smuggling, a problem they said was helping drive down local sugar prices.

  • WASHINGTON, April 30- Nineteen Republican U.S. senators introduced legislation on Wednesday proposing broader and tougher measures to punish Russia over the Ukraine crisis, including sanctions on major banks and energy companies, as well as $100 million in military aid for Kiev.

  • Gazprom ditches plan to build South Stream to Italy Wednesday, 30 Apr 2014 | 1:39 PM ET

    LONDON, April 30- Gazprom has ditched plans to build a section of its disputed South Stream gas pipeline to Italy, two sources close to the firm said on Wednesday, a day after it announced a deal with OMV to build a branch to Austria.

  • Thomas Hoenig, vice chairman of the Federal Deposit Insurance Corp, made the comments after Bank of America announced earlier this week that it would have to re-do its test results after discovering a calculation error that led it to overstate its capital levels by about $4 billion.

  • WASHINGTON, April 30- The United States named China and India on a watch list for countries that aren't doing enough to fight intellectual-property crimes, warning of trade-secret theft in China and the proliferation of generic drugs and counterfeiting in India.

  • WASHINGTON, April 30- U.S. Senate Republicans on Wednesday blocked one of President Barack Obama's top legislative priorities, a bill to raise the federal minimum wage for the first time in five years.

  • April 30- New York state's main banking regulator said on Wednesday it had teamed up with card payment companies Visa Inc and MasterCard Inc to curb illegal payday loans through debit card transactions.

  • The package would also require President Barack Obama to increase substantially U.S. and NATO support for the armed forces of Poland, Estonia, Lithuania and Latvia and accelerate implementation of missile defense in Europe.

  • China committed to Russian gas project, says Novatek Wednesday, 30 Apr 2014 | 1:14 PM ET

    MOSCOW, April 30- Chinese investors are committed to financing part of Novatek's $27 billion Russian gas project, ensuring it has sufficient backing despite losing U.S. support because of sanctions, the company said on Wednesday. "I think there will be a lot of conversations and travel between Moscow and Beijing- a more open dialogue."

  • WASHINGTON, April 30- The U.S. House energy committee has approved legislation to limit the length of review time for liquefied natural gas export applications, in a compromise aimed at attracting bipartisan support for speeding up U.S. gas shipments overseas.

  • MOSCOW, April 30- Oil majors are beginning to grow cool on new projects in Russia as U.S. and EU sanctions over Moscow's actions in Ukraine make investment increasingly risky and after the Kremlin's threat to review the West's role in Russia's energy industry, the world's largest.

  • Fed board met on monetary policy ahead of FOMC Wednesday, 30 Apr 2014 | 12:52 PM ET

    WASHINGTON, April 30- The Federal Reserve Board disclosed that it met on Tuesday morning in an unusual gathering ahead of a two-day meeting of the Fed's broader policymaking panel. The last time the Fed board such a meeting was in December 2011.