Latest Business News Wires - Business Headlines


  • BERLIN, April 29- German carmaker Volkswagen posted a quarterly jump in operating profit as Europea's fledgeling economic recovery lifted sales of Audi and Porsche luxury models to record levels.

  • *Boosted by demand in Japan ahead of price rises, VAT hike. The Paris- based company known for its Kelly and Birkin handbags said sales in Japan, one of its biggest markets, were boosted by purchases ahead of anticipated price increases and a value added tax hike on April 1.

  • HELSINKI, April 29- Nokia named the man who led a turnaround at its main telecoms network business as its new chief executive on Tuesday, boosting investors' confidence in the future of the company following the sale of its once dominant handset arm.

  • China provincial GDP data adds to slowdown concerns Tuesday, 29 Apr 2014 | 5:32 AM ET

    BEIJING, April 29- China's resource-dependent and manufacturing-heavy provinces suffered the sharpest economic slowdown in the first quarter as the government pushed to tackle excessive factory capacity and pollution, official data showed.

  • The European Banking Authority said on Tuesday it would gauge the resilience of 124 banks from the 28- country European Union to see if they would still have enough capital after facing a toxic cocktail of theoretical shocks.



  • *Costa to open five new stores in France. LONDON, April 29- Britain's Whitbread beat forecasts with a 16.5 percent jump in full-year profit and said it would expand its Costa Coffee chain in France after a trial showed strong demand.

  • SHANGHAI, April 29- China's yuan slipped on Tuesday, at one point touching a fresh 16- month low, as traders said dollar demand from the country's oil giants offset another stronger yuan midpoint-setting by the central bank. The People's Bank of China set its midpoint at 6.1556, up 0.01 percent from Monday.

  • MANILA, April 29- The United States said it has removed the Philippines from its piracy watch list after two decades following significant reforms put in place by Manila, raising prospects for increased trade and investment between the two allies. President Barack Obama in the Philippines, the United States' oldest ally in the Asia-Pacific region.

  • *Immelt hoping to convince France to back Alstom offer. *Industry experts say Alstom deal may have to be different. PARIS, April 29- As General Electric tries to convince French leaders to back its offer to rescue engineering firm Alstom, it hopes that three letters will convince them of its good will: CFM.

  • BEIJING, April 29- China will step up efforts to quicken interest rate liberalisation and the opening up the capital account of its currency, the country's central bank said in its annual financial stability report released on Tuesday.

  • Turkish police believe that until recently, the area around the market also sat at the centre of an audacious, multi-billion-dollar scheme involving bribery and suspect food shipments to Iran.

  • LONDON, April 29- U.S. handset maker Cirrus Logic Inc is to buy Wolfson Microelectronics Plc for an agreed 291 million pounds in cash, sending shares in the British microchip maker up more than 70 percent.

  • MOSCOW, April 29- Russian natural gas exporter Gazprom said on Tuesday further Western sanctions over Ukraine could potentially disrupt its gas exports to Europe and hit its business and shares.

  • Northern Trust says received subpoena from SEC Tuesday, 29 Apr 2014 | 4:56 AM ET

    April 29- Asset management company Northern Trust Corp said it received a subpoena from the U.S. Securities and Exchange Commission seeking documents related to the company's securities-lending activities. Northern Trust said it received the subpoena in April, without giving further details about the investigation.

  • OSLO, April 29- Norway's Statoil defied gloom in the oil sector by reporting first-quarter earnings above expectations on Tuesday due to higher prices and good results from shale gas activities in the United States, lifting its shares.

  • *Europe to follow U.S. with more sanctions on Russia. LONDON, April 29- Oil rebounded towards $109 a barrel on Tuesday a day after prospects of a return of Libyan supply prompted its biggest daily fall in nearly a month although investors showed muted response to more U.S. sanctions on Russia.

  • The European Union had already sanctioned 33 Russians and Ukrainians in protest at Russia's annexation of Ukraine's Crimea region in March. *Dmitry Kozak, deputy prime minister responsible for overseeing the integration of the annexed Crimea into Russia. *Oleg Savelyev, minister for Crimean Affairs responsible for the integration of Crimea into Russia.