Latest Business News Wires - Business Headlines


  • Nebraska lawyer aims to be trust-busting U.S. senator Wednesday, 25 Jun 2014 | 6:35 PM ET

    June 25- A Nebraska lawyer is trying to breathe life into an old-fashioned antitrust movement with a campaign for the U.S. Senate based partly on breaking apart the country's biggest banks and blocking consolidation among meatpackers. Rural, agriculture-heavy Nebraska rarely sends Democrats to Congress.

  • June 25- Wearable sports camera maker GoPro Inc's initial public offering was priced at $24 per share, an underwriter said, valuing the company at up to $2.96 billion. GoPro's IPO raised about $427.2 million, after the offering of 17.8 million class A shares was priced at the top end of the expected range of $21- $24 per share.


  • Paul Daugerdas, who once ran the law firm's Chicago office, had been found guilty by a New York federal jury on charges including conspiracy, tax evasion and mail fraud. Prosecutors said Daugerdas reaped $95 million from the scheme, which involved fraudulent tax deductions or benefits exceeding $7 billion and $1.63 billion in lost U.S. tax revenue.

  • UNITED NATIONS, June 25- Argentina's Economy Minister Axel Kicillof warned United Nations diplomats on Wednesday the country is being pushed toward a new default after a U.S. Supreme Court decision favored holdout creditors seeking payment on bonds it defaulted on in 2001-2002..

  • WASHINGTON, June 25- An advisory panel to the U.S. Food and Drug Administration recommended on Wednesday that AstraZeneca Plc be required to submit further clinical data before its experimental ovarian cancer drug is approved.

  • DETROIT, June 25- General Motors Co on Wednesday said that it has told its North American dealers to stop selling new and used Chevrolet Cruze sedans from model years 2013 and 2014 because of a potential problem with the air bags. The Cruze sedans are equipped with air bags supplied by Takata Corp, a GM spokesman said.

  • The U.S. Department of Commerce's Bureau of Industry and Security told Pioneer Natural Resources and Enterprise Product Partners on Tuesday that removing highly flammable gases from light oil, known as condensate, was sufficient processing to qualify the condensate as a "refined product."

  • June 25- A federal appeals court in Chicago said auditor Grant Thornton LLP must again face a lawsuit over its alleged role in the collapse of Italian dairy company Parmalat SpA, while lamenting that its decision puts the nearly 10- year-old case on the brink of starting anew.

  • Passed by a vote of 266 to 150, the bill must still get through the Senate. Senate Energy Committee head Mary Landrieu, of Louisiana, along with Senator Mark Udall, a Democrat from Colorado, have introduced a similar bill in the Senate that would require a decision within 45 days of FERC's environmental review.

  • The Fed and the SEC also brought civil charges against three former managers at the company's Regions Bank unit: Thomas Neely Jr, once a senior commercial credit executive; Jeffrey Kuehr, who led a problem loan workout department; and Michael Willoughby, who was chief credit officer.

  • NEW YORK, June 25- The New York Attorney General on Wednesday filed a securities fraud lawsuit against Barclays PLC for misrepresenting the safety of its U.S.-based alternative trading system, or "dark pool," to investors. "Barclays grew its dark pool by telling investors they were diving into safe waters," said Attorney General Eric Schneiderman.

  • June 25- A New Jersey judge refused on Wednesday to force Governor Chris Christie to make a full contribution for fiscal 2014 into the state pension fund.

  • Michigan says investors snap up Detroit lighting bonds Wednesday, 25 Jun 2014 | 5:19 PM ET

    June 25- A sale of $185 million of revenue bonds on Wednesday for Detroit's public lighting authority had no problem finding buyers despite the fact the city remains in bankruptcy court.

  • NEW YORK, June 25- U.S. stock investors ignored weak economic data and pushed equities higher on Wednesday, as drugmakers' shares rose and a Supreme Court ruling lifted major broadcaster stocks, while German bond yields hit the year's low on safe-haven bids.

  • UPDATE 1-Homebuilder Woodside Homes files for IPO Wednesday, 25 Jun 2014 | 5:13 PM ET

    The North Salt Lake City, Utah- based company said Credit Suisse, JP Morgan and Deutsche Bank were among the underwriters to the offering. Woodside Homes develops and sells single-family homes across seven primary markets in Arizona, California, Nevada, Texas and Utah.

  • US STOCKS-Wall St gains with drugmakers, broadcasters Wednesday, 25 Jun 2014 | 5:09 PM ET

    *Monsanto rallies on outlook and stock-repurchase plans. *CBS shares jump after Supreme Court ruling. Shares of CBS jumped 6.2 percent to $62.48 after the U.S. Supreme Court ruled that online TV startup Aereo Inc violates copyright law by using tiny antennas to provide subscribers with broadcast network content via the Internet.

  • The court could decide in the next few days whether to take up a lawsuit brought by a coalition of ethanol and gasoline producers trying to overturn a 2009 California rule mandating cuts to carbon emissions.

  • Paul Daugerdas, who once ran the law firm's Chicago office, had been found guilty by a New York federal jury on charges including conspiracy, tax evasion and mail fraud. The scheme resulted in over $7 billion in fraudulent tax deductions or benefits and $1.63 billion in lost tax revenue for the United States, prosecutors said.

  • *Has had fewer IPOs than Thailand and Bangladesh this year. SINGAPORE, June 26- The uphill battle faced by Singapore's stock exchange to improve its trading volumes appears to be getting only tougher.