Latest Business News Wires - Business Headlines


  • NEW YORK, May 7- A lawsuit brought by the U.S. Justice Department and several states against American Express Co over the credit card company's rules imposed on merchants can move forward to trial, a U.S. judge ruled on Wednesday.

  • NEW YORK/ LONDON, May 7- Gold prices fell about 1.5 percent on Wednesday as investors took profits from a run-up spurred by geopolitical concerns after Russian President Vladimir Putin urged Ukrainian separatists to postpone a referendum and said he was pulling troops back from their common border.

  • VANCOUVER, May 7- Enbridge Inc, Canada's largest pipeline company, said on Wednesday its Flanagan South and Seaway expansion projects in the United States aimed at more than doubling capacity to Gulf Coast refineries were on track to begin operating in the next few months.

  • NEW YORK, May 7- U.S. stocks mostly rose on Wednesday, bouncing off earlier lows after comments from Federal Reserve Chair Janet Yellen offered no surprises, but the Nasdaq fell for a second straight day, weighed down by declines in Internet-related shares.

  • LONDON, May 7- Euronext, which is being spun off by IntercontinentalExchange, will be listed on three of its exchanges in a stock market listing scheduled for June, a source familiar with the matter said on Wednesday.

  • Testifying before a congressional panel, IRS Commissioner John Koskinen said the IRS will audit 100,000 fewer individuals this year as part of congressionally mandated cuts to the tax agency's budget.

  • *Sees 2nd- qtr revenue $2.50 bln- $2.53 bln vs est. May 7- Technology outsourcing company Cognizant Technology Solutions Corp said growth in its North America healthcare business would remain slow this quarter due to lower spending by customers adjusting to U.S. healthcare reforms.

  • European shares inch up on earnings news but Fiat skids Wednesday, 7 May 2014 | 12:54 PM ET

    *Results from Credit Agricole, Henkel support. LONDON, May 7- European equities inched higher on Wednesday as positive company earnings narrowly outweighed a sharp fall in Fiat shares over scepticism about its new business plan.

  • ZURICH, May 7- Shareholders of UBS on Wednesday backed the board and management despite opposition due to the bank's involvement in various scandals, including a global probe into the largely unregulated $5.3 trillion- a-day foreign exchange market.

  • NEW YORK, May 7- Young marriage is lovely, but it has always carried its own challenges of adjustment and maturation. But newlyweds of the millennial generation face another layer of stress: an unprecedented amount of student debt, and in particular, unequal loads of it.

  • NEW YORK, May 7- Chevron Corp said on Wednesday that Washington law firm Patton Boggs has agreed to pay $15 million to settle claims it tried to enforce a multibillion-dollar Ecuador judgment against the oil company it knew was fraudulently obtained.

  • WASHINGTON, May 7- Federal Reserve Chair Janet Yellen said on Wednesday the U.S. economy was still in need of lots of support given the "considerable slack" in the labor market, adding that the housing sector's weakness and geopolitical tensions posed risks.

  • May 7- Corcept Therapeutics Inc lost more than half its market value after the company said it would stop a late-stage trial of its depression drug to focus on more promising programs.

  • *AstraZeneca forecasts show variables in drug modelling. LONDON, May 7- Ten-year sales forecasts from AstraZeneca- a central plank of its defence against a $106 billion bid approach from Pfizer- underscore how valuing drugs is an art as well as a science.

  • PARIS, May 7- Economy Minister Arnaud Montebourg stepped up France's push for a weaker euro on Wednesday, saying political leaders had the right to assess the right level for the currency in a position completely at odds with Germany's.

  • May 7- Higher gas prices helped Chesapeake Energy Corp beat expectations with a big jump in quarterly profit Wednesday and the company hiked its production forecast for the year, sending its shares up more than 2 percent in midday trading.

  • *Sees 2014 OIBDA of $80- 90 million. *Time Warner financing deals give CME breathing room. PRAGUE, May 7- CME, the central and eastern European broadcaster controlled by Time Warner, expects to return to profit this year as it slowly wins back advertisers after scaling down an ill-fated rise in prices.

  • MOSCOW, May 7- Western investors from a bank to a brewer reported trouble in their Russian operations on Wednesday due to the Ukraine crisis, while the Kremlin suggested Washington was trying to sabotage President Vladimir Putin's flagship economic forum.

  • *Hydrogenics shares down as much as 15 pct. May 7- Canadian fuel cell maker Hydrogenics Corp's quarterly net loss tripled as costs jumped and customers delayed taking deliveries, driving the company's shares down as much as 15 percent. Hydrogenics' results also weighed on the shares of rival fuel cell makers Ballard Power Systems Inc and Fuel Cell Energy Inc..

  • LONDON, May 7- Nickel prices climbed towards 15- month highs on Wednesday on worries about tightening supplies from Indonesia following an export ban on unprocessed ores and on concerns that political tension could restrict supply from Russia.