Latest Business News Wires - Business Headlines


  • *Kerry condemns Russian aggression in Ukraine. Secretary of State John Kerry on Tuesday condemned Russia's "act of aggression" in Ukraine's Crimea region and said Moscow was looking for a pretext to invade more of the country.

  • NEW YORK, March 4- An American lawyer used "corrupt means" to secure a multi-billion-dollar pollution judgment against Chevron Corp in Ecuador, a U.S. judge ruled on Tuesday, a major setback for Ecuadorean villagers hoping to collect on the award.

  • WASHINGTON, March 4- The U.S. Federal Housing Administration, which turned to the Treasury for aid in 2013, will avoid that fate this year due to efforts to shore up its finances, the White House predicted in its budget proposal on Tuesday.

  • *U.S. criticizes Moscow's weekend move into Ukraine. NEW YORK, March 4- Stocks and other risky investments, including battered Russian assets, rallied on Tuesday after Russia's president said he saw no need to use military force in Crimea for now, remarks investors saw as intended to ease tensions over Ukraine.

  • March 4- Oxygen Biotherapeutics Inc said the U.S. Food and Drug Administration had lifted an order imposed in 2008 suspending trials of its experimental brain injury drug, sending the company's shares up by more than a third in early trading.

  • *Canada's third-largest lender caps off strong bank earnings period. TORONTO, March 4- Bank of Nova Scotia capped off Canada's bank earnings period with a higher quarterly profit and a dividend increase on the back of strong domestic lending volumes and wealth management income, but its international retail operations posted softer results.

  • In "propaganda" war, Crimeans hear different reality Tuesday, 4 Mar 2014 | 12:31 PM ET

    KIEV/ SEVASTOPOL, Ukraine, March 4- Two days before Russian forces began the operation to seize Crimea, somebody threw two Molotov cocktails through the window of Black Sea TV. "It was a warning to us, so that we would stop," recalls Alexandra Kvitko, editor-in-chief of the only independent television station in the southern Ukrainian region.

  • LONDON, March 4- Copper rose to its highest in nearly a week on Tuesday, after falling to three-month lows the day before, as a possible softening in Russia's stance on Ukraine eased aversion to assets perceived as risky.

  • *Wheat, corn markets stabilize on easing of Ukraine tensions. Corn and wheat futures also advanced, with the market stabilizing as the threat of military violence in Ukraine, a key producer and exporter of both commodities, eased.

  • March 4- RadioShack Corp said it will close up to 1,100 U.S. stores after reporting a wider quarterly loss and huge drop in sales during the holidays that raised concerns about the longer-term prospects for the U.S. electronics chain. RadioShack's sales have been in free fall since 2010 amid executive departures, tough competition and an image problem.

  • NEW YORK, March 4- Oil fell on Tuesday after President Vladimir Putin said Russia would only use military force in Ukraine as a last resort, releasing some tension from a growing crisis in the region that pushed prices to five-month highs in the previous session.

  • March 4- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, reported a 23 percent jump in first-quarter profit as investment banking revenue grew. The bank said its holdings in Knight Capital and Harbinger Group Inc, were marked down by $15 million.

  • WASHINGTON, March 4- President Barack Obama proposed new tax credits and job-training programs for U.S. workers on Tuesday in a 2015 budget that highlights stark differences with Republicans, who favor a reduced government role in promoting economic opportunity.

  • WASHINGTON, March 4- The White House on Tuesday asked Congress to ramp up funding for the U.S. securities regulator, but caused an outcry from the top derivatives regulator by scaling back its prior request for a boost for that agency.

  • ServiceMax raises $71 million in new funding Tuesday, 4 Mar 2014 | 11:30 AM ET

    SAN FRANCISCO, March 4- ServiceMax field service management company said Tuesday it had raised $71 million in new financing, bringing its total funding to $120 million. He said the closest competitors are elements of software services provided by customer relations management businesses Oracle Corp and SAP AG.

  • March 4- A divided U.S. appeals court has rejected BP Plc's bid to block businesses from recovering money over the 2010 Gulf of Mexico oil spill, even if they could not trace their economic losses to the disaster.

  • KIEV/ LONDON, March 4- Commercial deals concluded by Ukraine during the presidency of Viktor Yanukovich are already coming under scrutiny, less than two weeks since he was deposed, with lucrative gas projects involving Western companies among the first.

  • U.S. senator still believes in new Iran sanctions bill Tuesday, 4 Mar 2014 | 11:27 AM ET

    Senator Robert Menendez said on Tuesday he still sees his legislation to impose new sanctions on Iran as the best way to ensure that Iran does not develop a nuclear weapon and prevent military action over its nuclear program.

  • *Qualcomm increases repurchase program, dividend; shares jump. NEW YORK, March 4- U.S. stocks rallied on Tuesday, with the S&P 500 at a record high, as fears of a confrontation between Russia and Ukraine eased and Russian President Vladimir Putin said there was no need to use military force in the Crimea region for now.

  • March 4- Morgan Stanley's wealth management unit said it hired six financial advisers from UBS and Wells Fargo. Daniel Tedesco and Dennis Madden joined on Feb. 14 from UBS where they managed $161 million in client assets. James Wong, Matthew Barker, Justin Harris and Desiderio Rodriquez joined on Feb. 28 from Wells Fargo where they managed $264 million in assets.