Latest Business News Wires - Business Headlines


  • *Reforms since 2011 have pushed many into private sector jobs. *But costs, inefficiencies are hurting companies. RIYADH, Sept 4- Saudi Arabia is changing tack in its labor reforms, softening the blow to companies with money for subsidies and training while trying to lure Saudis to the private sector with more attractive working conditions.

  • ECB will start buying ABS, covered bonds in October Thursday, 4 Sep 2014 | 8:50 AM ET

    FRANKFURT, Sept 4- The European Central Bank will start buying securitised loans and covered bonds next month to help unblock lending in the euro zone, ECB President Mario Draghi said on Thursday.

  • FRANKFURT, Sept 4- The European Central Bank is ready to use all unconventional measures if needed to ward off the threat of euro zone inflation staying too low for too long, ECB President Mario Draghi said on Thursday.

  • Sept 4- VeriFone Systems Inc, a maker of credit card swipe machines, raised its full-year revenue forecast for the third time, encouraged by strong sales of devices that can accept chip-embedded credit cards.

  • SINGAPORE, Sept 4- Gold fell close to a 2-1/ 2 month low on Thursday, as the euro dipped versus the dollar and European shares gained after the European Central Bank surprisingly cut interest rates to record lows.

  • DUBAI/ LAGOS, Sept 4- Qatar National Bank, the Gulf's largest bank, said on Thursday it was buying a 12.5 percent stake in pan-African lender Ecobank Transnational Incorporated. QNB has said it wants to become the largest bank in the Middle East and Africa by 2017- it is currently second in terms of assets, behind South Africa's Standard Bank.

  • Is Merkel's green zeal turning brown? Thursday, 4 Sep 2014 | 8:37 AM ET

    BERLIN, Sept 4- For all Angela Merkel's headline-grabbing "green revolution", Germany's image as a world leader on environmental policies is in danger of falling under the shadow of the smoke stack and a cloud of exhaust fumes.

  • OTTAWA, Sept 4- Canada's trade surplus in July jumped to a near six-year high of C $2.58 billion in another sign the long-battered export sector could be on its way to a lasting recovery.

  • BERLIN, Sept 4- Fresh from acquiring Nokia's handset business, Microsoft unveiled the first of its new range of Lumia smartphones on Thursday, priced to challenge a market dominated by volume leader Samsung and Apple Inc..

  • WASHINGTON, Sept 4- The U.S. trade deficit narrowed in July to its lowest point in six months as exports rose to a record high, supporting views of sturdy economic growth in the third quarter. The Commerce Department said on Thursday the trade gap fell 0.6 percent to $40.5 billion, the lowest since January.

  • WASHINGTON, Sept 4- The number of Americans filing new claims for unemployment benefits rose a bit more than expected last week, but remained at levels consistent with tightening labor market conditions.

  • WASHINGTON, Sept 4- U.S. labor costs were far more weaker than previously thought in the second quarter, a government report showed on Thursday, which could give the Federal Reserve ammunition to maintain its accommodative monetary policy stance for a while.

  • LONDON, Sept 4- The dismissal by U.S. District Judge Katherine Forrest of a barrage of lawsuits alleging foul play in the aluminium market does not mark the end of this particular story. Another, Eastman Kodak, which has brought a complaint against Goldman Sachs, filed too recently to be included in the Aug. 29 ruling.

  • LONDON, Sept 4- The euro fell broadly to hit a 14- month low against the dollar on Thursday, after the European Central Bank cut interest rates to ward off the threat of deflation, catching many investors by surprise.

  • The revised deal with oil major BP for Iraq's giant Rumaila oilfield cut the planned plateau level to 2.1 million barrels per day from 2.85 million bpd, Salah Mohammad, general manager of the Rumaila Operating Organization, told Reuters.

  • Sept 4- NewLink Genetics Corp said the U.S. Food and Drug Administration allowed the company to start testing an experimental Ebola vaccine in humans. The move follows a decision to begin initial human testing of a GlaxoSmithKline vaccine this month and an approval to fast track tests of a Johnson& Johnson vaccine.

  • LONDON, Sept 4- European stock markets surged and the euro sank on Thursday after the European Central Bank surprised by cutting already ultra-low interest rates to prop up a struggling economy. The DAX should go up from here, "said Darren Courtney-Cook, head of trading at Central Markets Investment Management.

  • *Defence Ministry seeks $3.1 billion for 2015. JERUSALEM, Sept 4- Days after Israel reached a ceasefire after 50 days of war against Hamas in Gaza, the finance ministry and the central bank are at odds over how to cover hefty defence costs in next year's budget.

  • LONDON, Sept 4- Record-low wage growth in Britain is largely due to a surge in jobs in poorly paying sectors and fewer people working in higher-paying industries such as finance and construction, research released on Thursday showed.

  • *Issue expected to be at least $500 million. DUBAI/ KUALA LUMPUR, Sept 4- Goldman Sachs is reviving plans to issue at least $500 million worth of Islamic bonds, a sign that Islamic finance is going mainstream as big conventional banks seek to tap Middle Eastern money.