Latest Business News Wires - Business Headlines


  • NEW YORK, June 24- Brent crude resumed its upward trend, climbing above $114 a barrel on Tuesday, as it received support from fighting in Iraq, supply disruption in Libya and expectations of a decline in U.S. crude inventories.

  • European shares drift lower, Belgium's Colruyt knocked Tuesday, 24 Jun 2014 | 12:32 PM ET

    *Colruyt down; warns of tough year ahead after profit fall. *Syngenta surges on report of Monsanto bid interest. LONDON, June 24- European shares lost ground on Tuesday, with Belgian retailer Colruyt among the biggest fallers on downbeat earnings, while the broader market was unable to gain traction from new signs of corporate takeover activity.

  • US STOCKS-Data lift Wall St, S&P hits another record Tuesday, 24 Jun 2014 | 12:00 PM ET

    *S&P 500 hits intraday record, continues recent strength. NEW YORK, June 24- U.S. stocks rose on Tuesday, boosted by some strong data while the Nasdaq outperformed thanks to gains in technology and biotech shares. Consumer confidence hit its highest level since January 2008 in June, while new home sales jumped 18.6 percent to a six-year high in May.

  • Ex-Madoff accountant pleads guilty to aiding fraud Tuesday, 24 Jun 2014 | 12:00 PM ET

    NEW YORK, June 24- Bernard Madoff's former accountant pleaded guilty on Tuesday to helping the convicted swindler perpetrate his massive Ponzi scheme. Paul Konigsberg, a former senior tax partner at Konigsberg Wolf& Co, pleaded guilty to one count of conspiracy and two counts of falsifying the records of a broker-dealer before U.S.

  • After bond buyers last week shrugged off concerns about militant attacks in Kenya and Ecuador's serial defaults, it seems unlikely that bond issues from Russia's mighty state-run companies can fail.

  • "I haven't seen a cash vehicle coming out this way in a long time," said Mohamed Moosa, who runs a general store in Marikana, a town 120 km northwest of Johannesburg that has been at the center of the longest strike in South African history.

  • WASHINGTON, June 24- U.S. House of Representatives Republicans are working on how to approach reauthorization of the U.S. Export-Import Bank, which helps finance exports of U.S. goods and services, House Speaker John Boehner said on Tuesday, saying he would listen to all sides on the "thorny" issue.

  • *Scandal shocked Britain's political elite. LONDON, June 24- Rebekah Brooks, the former boss of Rupert Murdoch's British newspaper arm, was acquitted on Tuesday of orchestrating a campaign to hack into phones and bribe officials in a case that has shaken the British political establishment.

  • HOUSTON, June 24- The United States should follow the example of Canadian transport regulators with a relatively quick phasing-out of older tank cars that carry volatile crude oil, the head of Canada's National Transportation Safety Board said on Tuesday.

  • WASHINGTON, June 24- DirecTV's chief executive officer told lawmakers on Tuesday that the largest U.S. satellite television provider needs to merge with AT&T Inc so that it can offer Internet service to consumers that is critical to remaining competitive.

  • BRASILIA, June 24- Brazil's current account deficit was the widest on record for the month of May as Brazilians spent more on international travel and foreign companies sent profits and dividends to their headquarters abroad.

  • NEW YORK, June 24- U.S. equities hit another record high on Tuesday after encouraging data on consumer confidence and new home sales, while sterling fell after the head of the Bank of England stirred doubts about how soon interest rates would rise.

  • JOHANNESBURG, June 24- The world's three biggest platinum firms signed a wage deal with South Africa's AMCU union on Tuesday but said that fallout from a five-month strike made job cuts and restructuring inevitable, setting the scene for more labor turmoil.

  • Shipping company Nautilus files for U.S. bankruptcy Tuesday, 24 Jun 2014 | 11:22 AM ET

    June 24- Nautilus Holdings Ltd, a Bermuda- chartered company that leases container ships, has filed for Chapter 11 bankruptcy protection in New York, becoming the latest victim of a depressed shipping industry. The company has about $770 million in debt, according to papers filed late Monday with the U.S. Bankruptcy Court in Manhattan.

  • *Gains best in long issues $30 billion two-year notes auction ahead. NEW YORK, June 24- U.S. Traders discounted the Case-Shiller data as out of date and likely an exception to signs the housing sector was pulling out of a recent slump, according to money market economist Tom Simons at Jefferies LLC.

  • LONDON, June 24- Spain and Italy will take more steps to extend the average duration of their debt, aiming to quell investor concerns about the large repayments Europe's most indebted countries must make in the next few years.

  • MOSCOW, June 24- Russia's MICEX index hit a high for the year on Tuesday, extending gains after President Vladimir Putin asked the upper house of Russia's parliament to revoke the right it had granted him to order a military intervention in Ukraine. The rouble-based MICEX rose 2.2 percent to 1,519 points, its highest since November, before closing at 1,518..


  • GRAINS-Wheat hits 4-month low as U.S. harvest advances Tuesday, 24 Jun 2014 | 10:58 AM ET

    *Soybeans fall after crop conditions top expectations. CHICAGO, June 24- U.S. wheat futures slid to a four-month low on Tuesday as the country's advancing harvest increased supplies, while soybean futures dropped on better-than-expected U.S. crop conditions.

  • LONDON, June 24- The European Union's markets, banking and insurance watchdogs could be funded by a levy on the organisations they supervise, in an attempt by the bloc's executive body to save taxpayers' money.