Latest Business News Wires - Business Headlines



  • March 24- Chinese solar products maker ReneSola Ltd posted its first profit in 10 quarters, helped by higher shipments of solar modules. The company's net profit attributable to shareholders was $800,000, or 1 cent per American depositary share, for the fourth quarter ended Dec. 31 compared with a loss of $88.9 million, or $1.03 per ADS, a year earlier.

  • Asylum seekers in Europe reach two-decade high Monday, 24 Mar 2014 | 8:08 AM ET

    BRUSSELS, March 24- Nearly half a million people sought asylum in Europe last year, the most in two decades, with the largest number coming from Syrians fleeing civil war, the European Union said on Monday. The European Union rejected 65 percent of the requests and granted refugee status to 15 percent of the asylum seekers.

  • *Russia's gas supply relation to Europe would not easily break down. GOYANG, South Korea, March 24- Tension between Russia and the West may spur the U.S. to speed up approvals for more projects to export gas, said the head of a UK- based unit of France's Total group, as Europe looks for other sources of fuel supply.

  • Europe shares fall as China data, Crimea weigh Monday, 24 Mar 2014 | 7:48 AM ET

    PARIS, March 24- European stocks slipped on Monday, trimming last week's lofty gains, as data showing China's manufacturing activity contracted in the first quarter of 2014 revived worries over the outlook for global growth.

  • LONDON, March 24- Commodity trader Gunvor has reassured lenders the firm will avoid U.S. sanctions under its new ownership structure as it presses ahead with plans to raise a $665 million syndicated loan, bankers said on Monday.

  • *Ukraine conflict continues, Russia seizes marine base. *Herbalife rallies, Icahn to get more reps on board.

  • *Russia tightens grip on Crimea. *Sanctions against Russia, G8 summit in Sochi on agenda.

  • LONDON, March 24- The euro struggled on Monday, hurt by signs that growth was slowing in the euro zone's largest economy, Germany, though investors were also wary of buying the dollar as they awaited more evidence of a U.S. recovery.

  • March 24- GrubHub Inc said it expects to price its initial public offering of 7.03 million shares at $20- $22 per share, valuing the largest U.S. online food delivery services provider at up to $1.72 billion.

  • GLOBAL ECONOMY-China brakes as euro zone gears up Monday, 24 Mar 2014 | 7:26 AM ET

    *China's manufacturing PMI falls to 8- month low. LONDON, March 24- China's huge manufacturing engine stuttered in the early part of 2014 while a return to growth in French business activity this month suggested a solid, broad-based recovery was taking shape in the euro zone, surveys showed.

  • March 24- Security software maker Palo Alto Networks Inc said it agreed to buy privately-held Israeli cybersecurity company Cyvera for about $200 million to expand its offerings that protect businesses from cyber attacks. Palo Alto said the deal would close in the second half of its fiscal year 2014.. Tel Aviv- based Cyvera has 55 employees, Palo Alto said.

  • *Factory output in China fells to eight month low in March. *Premiums for China bonded copper stocks drop $5 to $95/ 115- Shmet.

  • March 24- Nutrition and weight-loss company Herbalife Ltd said it would allow three more representatives of billionaire investor Carl Icahn to join its board, sending the company's shares up as much as 9 percent before the bell on Monday.

  • LONDON, March 24- Gold fell 1 percent on Monday as expectations that U.S. interest rates could rise in early 2015 supported the dollar and prompted investors to cash in gains made during gold's recent rally to six-month highs.

  • *Yuan rises 0.6 pct against dollar. HONG KONG, March 24- China's yuan rebounded sharply against the dollar on Monday with its biggest daily gain in nearly 30 months, boosted by speculation the Chinese government may soon unveil stimulus measures to support the faltering economy.

  • *Data due 8:50 a.m. April 1. TOKYO, March 24- Japanese manufacturers' mood probably improved in the three months to March but it will likely weaken the following quarter due to concerns that a sales tax hike may dent the pace of the economic recovery, a Reuters poll showed.

  • *Sale could raise $10- $20 billion- analysts. HONG KONG, March 24- State-run oil giant China Petroleum and Chemical Corp aims to wrap up the sale of up to 30 percent of its sprawling marketing buiness in the third quarter of this year, a restructuring analysts say could raise $10- $20 billion.

  • March 24- Herbalife Ltd, a nutritional products maker, said it would nominate three additional Carl Icahn designees to its board. Herbalife, which is being investigated by the Federal Trade Commission, earlier this month postponed its annual shareholders' meeting to April 29 to continue discussions with Icahn about new board nominees.

  • UPDATE 3-Oil below $107 after China PMI drags Monday, 24 Mar 2014 | 5:53 AM ET

    *Ukraine crisis, Libya keep oil market wary. LONDON, March 24- Brent crude oil slipped on Monday, weighed down by Chinese data pointing to lower demand in the world's biggest energy consumer, but supported by worries that the Ukraine crisis and turmoil in Libya could hit oil supplies. Brent crude for May was down 30 cents at $106.62 a barrel by 0930 GMT.