Latest Business News Wires - Business Headlines


  • Zimmer to buy Biomet in $13.35 bln deal Thursday, 24 Apr 2014 | 7:18 AM ET

    April 24- Medical device maker Zimmer Holdings Inc said it would acquire orthopedic products company Biomet Inc in a deal valued at about $13.35 billion.

  • April 24- PulteGroup Inc, the No. 2 U.S. homebuilder, reported an 8 percent drop in first-quarter profit as a shortage of developed land constrained its ability to build more homes. PulteGroup's average selling price rose 10 percent to $317,000, but was not enough to offset a 10 percent drop in the number of completed homes.

  • April 24- Under Armour Inc reported a 73 percent jump in first-quarter profit, driven by strong growth in sales of its athletic apparel and footwear. Shares of the company, known for its HeatGear and ColdGear clothing, rose 5.7 percent to $57.5 in premarket trading.

  • Delphi's quarterly profit up 16 pct, raises outlook Thursday, 24 Apr 2014 | 7:12 AM ET

    April 24- Auto parts maker Delphi Automotive Plc reported a 16 percent rise in quarterly profit, helped by strong demand in Asia and North America, and raised its 2014 earnings outlook. The net income attributable to Delphi rose to $320 million, or $1.04 a share, for the first quarter ended March 31, from $276 million, or $0.88 a share, in the year earlier period.

  • April 24- Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a 17 percent drop in quarterly profit as demand fell for rigs used in deep water drilling. Diamond Offshore, whose competitors include Ensco Plc, Transocean Ltd and Helmerich& Payne Inc, has two rigs due for delivery in 2014 but has yet to land contracts for them.

  • Higher home prices boost D.R. Horton's profit Thursday, 24 Apr 2014 | 7:07 AM ET

    April 24- D.R. Horton Inc, the top U.S. homebuilder, reported an 18 percent rise in quarterly profit as it charged more for its houses, and said orders rose 9 percent. The company's net income rose to $131.0 million, or 38 cents per share, in the second quarter ended March 31, from $111.0 million, or 32 cents per share, a year earlier.

  • Nasdaq reports higher first-quarter earnings Thursday, 24 Apr 2014 | 7:06 AM ET

    Net income attributable to Nasdaq totaled $103 million, or 59 cents per share, up from $42 million, or 25 cents per share, a year earlier.

  • April 24- U.S. drugmaker Eli Lilly and Co reported lower-than-expected quarterly revenue on Thursday, hurt by disappointing sales of its cancer and diabetes drugs, and trimmed its 2014 profit forecast. Revenue fell 16 percent to $4.68 billion while Wall Street expected $4.8 billion.

  • RPT-Facebook's next growth engines still warming up Thursday, 24 Apr 2014 | 7:00 AM ET

    SAN FRANCISCO, April 23- Facebook Inc has a message for Wall Street: Don't expect new revenue streams anytime soon.

  • LONDON, April 24- Oil edged further above $109 a barrel on Thursday as the dispute between Russia and the West over Ukraine added to supply concerns, although record U.S. crude inventories kept gains in check.

  • Foxconn, a major supplier to Apple Inc, wants to expand beyond China, where its massive production base has come under fire from international labour groups after a series of suicides and accidents since 2010.. Indonesian government officials had previously said they were still discussing the terms of the project with Foxconn but declined to give any details.

  • JOHANNESBURG, April 24- The Association of Mineworkers of South Africa President Joseph Mathunjwa told Reuters on Thursday he was not sure if the revised wage offer from the world's top platinum companies was ready to take to members. "I don't know at this stage," he told Reuters as he entered venue where talks were still being held in Johannesburg.

  • April 24- Time Warner Cable Inc, the second-largest U.S. cable operator, reported first-quarter profit above analysts' estimates as it added more residential subscribers than expected for its high-speed data services. Time Warner Cable's quarterly profit jumped 19.5 percent to $479 million, or $1.70 per share, in the first quarter ended March 31.

  • April 24- Aetna Inc said on Thursday that first-quarter net income rose 36 percent as it added people in its Medicare and commercial business, which includes customers from insurance exchanges created under President Barack Obama's signature healthcare law.

  • TOKYO/ BEIJING, April 24- Three employees at one of Marubeni Corp's grain trading unit in China have been detained, Chinese customs said on Thursday, a move prompted by allegations of tax evasion on soybean imports.

  • PulteGroup profit falls 8 pct as home deliveries fall Thursday, 24 Apr 2014 | 6:44 AM ET

    April 24- PulteGroup Inc, the No. 2 U.S. homebuilder, reported an 8 percent drop in quarterly profit as it handed over fewer homes to buyers and said orders fell 6 percent. The company's net income dropped to $74.8 million, or 19 cents per share, in the first quarter ended March 31 from $81.8 million, or 21 cents per share, a year earlier.

  • *Physical copper premiums in China rising sharply. LONDON, April 24- Copper touched its strongest level in three weeks on Thursday and nickel surged to a new 14- month peak as seasonal Chinese demand for metals ramped up and concerns over nickel supplies prompted more speculative buying. "People are looking for slightly firmer demand out of China.

  • MILAN, April 24- Italy's funding costs remained close to multi-year lows at a bond auction on Thursday, as speculation the European Central Bank may start an asset purchase programme supported demand for higher-yielding debt.

  • PARIS, April 24- Pernod Ricard said it was buying Kenwood Vineyards to beef up its premium wines portfolio in the United States, the French drinks company's biggest market, and was looking for more small-scale acquisitions.

  • NEW DELHI, April 24- Nokia said that due to an ongoing tax dispute its Indian mobile phone handset plant was unlikely to be included in a deal due to be concluded on Friday for the sale of its global handset business to Microsoft.