Latest Business News Wires - Business Headlines


  • WASHINGTON, Feb 25- The Obama administration will look for ways the federal government could spur investment to improve infrastructure for transporting oil and natural gas supplies around the country, U.S.

  • NEW YORK, Feb 25- Morgan Stanley has reached a $275 million proposed settlement with the U.S. Securities and Exchange Commission that would allow the Wall Street bank to move past a substantial legal overhang from the financial crisis.

  • *Expects 1st- qtr adj revenue of $145- 147 mln. Feb 25- Endurance International Group Holdings Inc, a provider of internet domain names, reported a 17 percent rise in quarterly revenue as the company added more subscribers, sending its shares up 16 percent after the bell. Endurance also forecast adjusted revenue of $145- 147 million for the first quarter.

  • Feb 25- QEP Resources Inc's quarterly adjusted profit missed analysts' expectations by a wide margin, hurt by a 21 percent fall in natural gas production due to severe winter weather In North America. Net loss attributable to the company more than doubled to $52.0 million in the fourth quarter from $23.1 million a year earlier.

  • ROME, Feb 25- Italian Prime Minister Matteo Renzi won a final parliamentary vote of confidence on Tuesday after pledging to slash red tape and "revolutionise" the economy.

  • NEW YORK, Feb 25- Cooper-Standard Holdings Inc is weighing a merger with rival TI Automotive, looking to combine the world's two largest suppliers of fluid systems for cars and trucks, according to people familiar with the matter.

  • Weatherford to hive off non-core businesses, cut jobs Tuesday, 25 Feb 2014 | 6:10 PM ET

    Feb 25- Oilfield services provider Weatherford International Ltd said it would divest five businesses, exit another and lay off 6192 employees as it struggles with weak demand in North America. The company, which is being probed for violations of the United Nations oil-for-food program in Iraq, on Tuesday also reported a wider quarterly net loss.

  • Feb 25- JPMorgan Chase& Co, the largest U.S. bank, announced thousands of job cuts on Tuesday as the mortgage lending business slows, and said it was lowering its profitability target.

  • Feb 25- Demand Media Inc warned on Tuesday that revenue for this year will continue to decline because of troubles at its flagship advice website eHow. Demand Media has been hurt by changes that Google Inc made to its search algorithm in order for people to receive higher quality search results.

  • Chaired by Democrat Carl Levin, the panel issued a report alleging misdeeds by Credit Suisse, Switzerland's second-largest bank. The report said Credit Suisse opened Swiss accounts for more than 22,000 U.S. customers with combined assets of as much as $12 billion.

  • NEW HAVEN, Conn., Feb 25- Jesse Litvak, a former trader at Jefferies Group Inc, made extra commissions and profits by defrauding big Wall Street firms such as JPMorgan Chase& Co and AllianceBernstein Holding LP on bond trades, a U.S. Treasury Department agent testified at Litvak's fraud trial.

  • WASHINGTON, Feb 25- Joking that he would blast off in an "Iron Man" suit, President Barack Obama on Tuesday announced that two new manufacturing institutes aimed at creating quality jobs would be located in the Midwest cities of Chicago and Detroit.

  • Discover Financial faces US probe over student lending Tuesday, 25 Feb 2014 | 5:47 PM ET

    The Consumer Financial Protection Bureau has issued a civil investigative demand to Discover Bank seeking information regarding certain student loan servicing practices, Discover said in its annual filing on Tuesday.

  • TRENTON, N.J. Feb 25- New Jersey Governor Chris Christie called for a new round of public pension reform in his fifth state budget proposal on Tuesday but provided no details, while opposition Democrats rejected the idea.

  • Feb 25- Anika Therapeutics Inc said the U.S. Food and Drug Administration approved its drug to treat pain and improve joint mobility in patients with osteoarthritis of the knee, more than four years after it first filed for approval.

  • Feb 25- Chipmaker Avago Technologies Limited said it expects current-quarter sales to decline 3-6 percent from the first quarter as it lost revenue from a smartphone maker, which analysts said could be Apple Inc.

  • Endurance's revenue rises 17 pct on higher subscribers Tuesday, 25 Feb 2014 | 5:27 PM ET

    Feb 25- Endurance International Group Holdings Inc, which provides Internet domain names, reported a 17 percent rise in quarterly revenue, helped by an increase in subscribers. Net loss attributable to Endurance fell to $67.5 million, or 57 cents per share, in the fourth quarter from $72.6 million, or 75 cents per share, a year earlier.

  • WASHINGTON, Feb 25- Boeing Co has been awarded a contract valued at $2.1 billion to build 16 P-8A Poseidon long-range maritime spy planes for the U.S. Navy, the Pentagon announced on Tuesday. The deal marks the first full-rate production contract for Boeing for the new planes, and follows a decision by Australia last week to buy eight P-8A planes for A $4 billion.

  • Persistent production outages in Libya and South Sudan capped losses in Brent while U.S. oil was pressured by sinking gasoline futures prices in the face of lessening demand for the fuel. U.S. weekly crude stocks rose by a less-than-expected 822,000 barrels in the week to Feb. 21, according to data from the American Petroleum Institute released Tuesday.

  • WASHINGTON, Feb 25- Shippers moving crude oil by rail out of North Dakota's Bakken energy patch must test the fuel for dangerous volatility before loading it onto the tracks, the U.S. Department of Transportation said on Tuesday.