Latest Business News Wires - Business Headlines


  • LONDON, May 12- CME Group's European clearing house and the post-trade arm of Swiss exchange operator SIX Group have teamed up to create a platform to manage collateral used to back derivatives trades. Last week, the Depository Trust& Clearing Corporation and Euroclear announced a joint venture to simplify settlement of trades and ease access to collateral.

  • May 12- Tesaro Inc said its exprimental drug for the prevention of chemotherapy-induced nausea and vomiting met the main goal in a third late-stage trial. Tesaro shares jumped nearly 15 percent to $27.50 in premarket trading.

  • MONTREAL, May 12- United Nations aviation officials gathered in Canada on Monday to discuss better tracking of aircraft in the highest-level response yet to safety concerns raised by the disappearance of Malaysia Airlines flight MH370 in March.

  • Gogo revenue rises 35 pct, shares up Monday, 12 May 2014 | 7:38 AM ET

    May 12- Gogo Inc reported a 35 percent rise in first-quarter revenue due to higher demand for its in-flight wireless Internet services. Net loss for the quarter ended March 31 fell to $16.9 million, or 20 cents per share, from $32.5 million, or $4.77 per share, a year earlier. Gogo shares were up 6 percent at $12.80 in premarket trading on Monday.

  • May 12- Hillshire Brands Co said it would buy Pinnacle Foods Inc for about $6.6 billion including debt, adding products such as Duncan Hines baking mixes to its portfolio that includes Jimmy Dean sausages and Hillshire Farm luncheon meats.

  • *Miners gain as JPMorgan upgrades sector to "overweight". *Alstom up on German support for Siemens tie-up. LONDON, May 12- European stocks scaled new six-year highs on Monday, boosted by miners on a bullish note from JPMorgan, while investors also welcomed dovish comments from European Central Bank policymaker Ewald Nowotny.

  • *Naimi: OPEC should keep its 30- mln-bpd output cap unchanged at June meet. SEOUL, May 12- Top global oil exporter Saudi Arabia will step in to cover any potential shortage arising from the Ukraine crisis, its oil minister said on Monday.

  • LONDON, May 12- Pfizer defended the business case behind its plan to acquire AstraZeneca on Monday and questioned the UK drugmaker's ability to stand alone for much longer as the New York- based group's CEO prepared for a grilling from British lawmakers.

  • US STOCKS-Futures rise, S&P 500 near record Monday, 12 May 2014 | 7:18 AM ET

    *Hillshire to buy Pinnacle Foods for $6.6 billion. NEW YORK, May 12- U.S. stock index futures rose on Monday, putting the S&P 500 within striking distance of record levels, though geopolitical concerns in the Ukraine could cap gains.

  • LONDON, May 12- Fast-growing Swiss trading house Mercuria has hired a former top executive from Goldman Sachs to run its global commodities trading as it expands further into territory abandoned by many top Wall Street lenders under tighter regulatory scrutiny.

  • Allergan rejects Valeant Pharma's takeover bid Monday, 12 May 2014 | 7:13 AM ET

    May 12- U.S. medical firm Allergan Inc rejected the unsolicited takeover offer from Valeant Pharmaceuticals International Inc, saying it substantially undervalued the company. Canada's Valeant said on Aug. 22 that it and activist investor Bill Ackman made an unsolicited $47 billion bid to buy Allergan.

  • *Lonmin prepares for return to work on May 14. *Union NUM says two workers killed at Lonmin mine. LONDON, May 12- Platinum miner Lonmin said on Monday restructuring and job cuts were inevitable as it posted a steep fall in six-month earnings, suffering from South Africa's longest and most costly labour stoppage.

  • *Copper hits 2 month peak on China hopes, tight inventories. LONDON May 12- Nickel jumped nearly 5 percent on Monday, bringing gains for the year near 50 percent, on the threat of tougher western sanctions on top producer Russia that has compounded concerns about Indonesia's ban on unprocessed ore exports.

  • SAN FRANCISCO, May 12- Apple Inc has cut in half the time it takes to give refunds to online store customers who want to return their iPhones and other gadgets, a small but crucial step to try to get more people to buy direct from its website.

  • Hillshire to buy Pinnacle Foods for $6.6 billion Monday, 12 May 2014 | 6:38 AM ET

    May 12- Packaged food company Hillshire Brands Co said it would acquire Pinnacle Foods Inc for about $6.6 billion, including debt, in a cash and stock deal.

  • FRANKFURT, May 12- Hochtief, majority-owned by Spanish builder ACS, has raised its stake in Leighton Holdings to nearly 70 percent, tightening its grip on Australia's biggest construction company and paving the way for its restructuring.

  • Mercuria hires ex-Goldman executive to run trading Monday, 12 May 2014 | 6:12 AM ET

    LONDON, May 12- Fast growing Swiss trading house Mercuria has hired a former top executive from Goldman Sachs to run its global commodities trading, as it expands further into the territory abandoned by many top Wall Street lenders under tighter regulatory scrutiny.

  • May 12- BNP Paribas and Credit Suisse Group have appealed to U.S. authorities to allow their local subsidiaries, rather than the parent companies, to plead guilty to criminal charges they face in the United States, the New York Times reported, citing people briefed on the talks.

  • DUESSELDORF, Germany, May 12- Europe's top electronics retailer Media-Saturn is hoping express home delivery services will help offset pressure on margins and boost online revenues as it tries to make up for a delayed e-commerce launch caused by in-fighting among its owners.

  • PRECIOUS-Gold rises as tensions simmer in Ukraine Monday, 12 May 2014 | 6:01 AM ET

    *Pro-Russian separatists claim victory in Ukraine vote. LONDON, May 12- Gold rose above $1,290 an ounce on Monday as simmering tensions in Ukraine and a weaker dollar lent support, but a lack of investment on the back of expectations for strengthening U.S. growth held gains in check.