Latest Business News Wires - Business Headlines


  • LONDON, Feb 25- Turkey's lira hit two-week lows versus the dollar on Tuesday while stocks fell 3 percent after the latest twist in a government corruption scandal, while concerns about Chinese yuan moves weighed on other emerging assets.

  • *Follows forecast-beating profit at U.S. rivals Dow, DuPont. LUDWIGSHAFEN, Germany, Feb 25- BASF, the world's largest chemicals company by sales, predicted a small rise in operating profit this year, with an uncertain economic outlook tempering its optimism over growing demand from automakers and consumer goods companies.

  • MOSCOW, Feb 25- Ukraine's state oil and gas company, Naftogaz, has slashed gas imports from Russia's Gazprom as of Feb. 24 to 28 million cubic metres per day from 147 million, two Russian industry sources told Reuters on Tuesday. They said Naftogaz gradually cut imports from 147 million cubic metres as of Feb. 1.

  • BEIJING, Feb 25- China is likely to see relatively big net capital inflows this year, though the U.S. The improved global economic environment in 2014 and China's efforts to push forward reform will likely to continue to attract capital inflows, the State Administration of Foreign Exchange said.



  • REFILE-Fresenius weighs on overbought European shares Tuesday, 25 Feb 2014 | 5:36 AM ET

    *CAC, FTSE retreat from multi-year highs. Fresenius Medical Care fell 6.9 percent after it unexpectedly forecast another decline in profit for 2014 amid budget cuts to healthcare from the United States.

  • Gox, once the world's biggest bitcoin exchange, looked to have essentially disappeared on Tuesday, with its website down, its founder unaccounted for and a Tokyo office empty bar a handful of protesters saying they had lost money investing in the virtual currency. Gox had $174 million in liabilities against $32.75 million in assets.

  • The suspension at the Toansa and Dewas plants, already banned by the U.S. Food and Drug Administration from shipping products to the United States, Ranbaxy's biggest market, will hit supplies to other key markets such as Europe and India, two people with direct knowledge of the matter said.

  • MILAN, Feb 25- Italy's two-year borrowing costs fell to a new euro lifetime low at an auction of zero-coupon paper on Tuesday, the first debt sale since centre-left leader Matteo Renzi forced Prime Minister Enrico Letta to resign and became premier. Italy sold a total 3.5 billion euros in bonds, at the top of its planned range.

  • Toll Brothers reports surge in profit Tuesday, 25 Feb 2014 | 5:15 AM ET

    Feb 25- Toll Brothers Inc, the largest luxury U.S. homebuilder, reported a more than 10- fold jump in quarterly profit as the U.S. housing market recovers. Revenue soared 52 percent to $643.7 million in the first quarter ended Jan. 31. Net income rose to $45.6 million, or 25 cents per share from $4.4 million, or 3 cents per share, a year earlier.

  • FOREX-Aussie weakens as yuan slide deepens Tuesday, 25 Feb 2014 | 5:02 AM ET

    *China spot yuan drops below guidance rate first time since 2012. LONDON, Feb 25- The Australian dollar fell around a third of a percent on Tuesday, handing back overnight gains as a fall in China's yuan deepened, reflecting concern over growth and moves by the People's Bank of China to prod the currency lower.

  • LONDON, Feb 25- World shares were at a 6- year high on Tuesday following a record peak on Wall Street, while moves by China to stamp out easy betting on the yuan triggered the currency's biggest drop in over three years.

  • *Libya puts ministries under special budget rules after oil revenue slump. LONDON, Feb 25- Oil fell on Tuesday, weighed down by forecasts of rising U.S. crude inventories as icy weather eases, but persistent outages in Libya and other exporters underpinned global prices. U.S. oil declined by 63 cents to $102.20, after ending 62 cents higher.

  • ANKARA, Feb 25- Turkish Prime Minister Tayyip Erdogan's office described as a dirty immoral fabrication voice recordings purporting to reveal Erdogan telling his son to dispose of large sums of money on the day police raided houses in a graft inquiry into his government.

  • Property remains top wealth driver in China-Hurun list Tuesday, 25 Feb 2014 | 4:41 AM ET

    BEIJING, Feb 25- Real estate remained the most lucrative road to riches in China last year, according to the Hurun Global Rich List, despite Beijing's repeated efforts to cool red-hot property prices. Six of world's 10 top real estate tycoons are now from China and Hong Kong, according to Hurun Report Inc, which released its Global Rich list on Tuesday.

  • FRANKFURT, Feb 25- Fresenius Medical Care, which makes kidney dialysis machines, forecast a surprise fall in net profit for this year, in part due to healthcare spending cuts in the United States.

  • *Telekom Austria shares up 2.3 pct. VIENNA, Feb 25- An alliance between Carlos Slim and the Austrian government to control Telekom Austria moved closer as Slim said he wanted to start formal talks and Austria said it was interested.

  • BANGKOK, Feb 25- Thailand announced a slump in trade figures on Tuesday with the biggest drop in imports in more than four years in January, as months of anti-government protests extended their economic toll beyond falling tourism numbers.

  • BEIJING/ HONG KONG, Feb 25- China's corporate debt has hit record levels and is likely to accelerate a wave of domestic restructuring and trigger more defaults, as credit repayment problems rise.