Latest Business News Wires - Business Headlines


  • LONDON, March 27- The London Metal Exchange will not implement reforms to cut logjams in its global warehousing network as scheduled next month after it lost crucial elements of a legal case brought by Russian aluminium giant Rusal.

  • Ally Financial to raise up to $2.66 bln in IPO Thursday, 27 Mar 2014 | 7:49 AM ET

    The auto lender, owned in part by the U.S. government, said Citigroup, Goldman Sachs& Co, Morgan Stanley and Barclays are lead underwriters for the offering.

  • SHANGHAI/ HONG KONG, March 27- China's biggest banks showed milder-than-expected signs of financial stress from loan defaults and shrinking profit margins, cheering investors even as the lenders this week posted their slowest profit growth since they became listed.

  • March 27- Alimera Sciences Inc said it has applied a fourth time for U.S. regulatory approval to start selling an eye implant that delivers a drug to treat a form of blindess in diabetes patients. The FDA asked for a new trial of the drug-device combination, but Alimera's partner, Psivida Corp, said that additional trials were not necessary.

  • China boost for Alcatel and Total buoys European shares Thursday, 27 Mar 2014 | 7:45 AM ET

    *China deals boost Alcatel Lucent and Total. LONDON, March 27- European equities edged higher on Thursday, lifted by a rise in telecoms equipment maker Alcatel and oil group Total which were both boosted by new Chinese deals.

  • *Plans to sell 37.2 mln shares at $18- $21 each. March 27- La Quinta Holdings Inc will raise as much as $780 million from its initial public offering, as it becomes the third hotel chain to be taken public by Blackstone Group LP in six months.

  • NOVO-OGARYOVO, Russia, March 27- President Vladimir Putin warned the West on Thursday that curbing Russians' use of payment systems based in the United States and Europe would backfire by causing companies involved to lose money and market share.

  • *Citigroup falls in premarket, Fed rejects capital plan. *On Wednesday, the U.S. and the European Union agreed to work together to prepare possible tougher economic sanctions in response to Russia's annexation of Ukraine's Crimea territory, including on the energy sector.

  • LONDON, March 27- Copper bounced on Thursday on improved demand in Europe and top consumer China, but continued pressure from speculators and worries about credit in China capped gains.

  • LONDON, March 27- Britain's financial regulator has issued a warning notice to another two traders for "significant failings" over a period of around two years, as part of an investigation into manipulation of benchmark interest rates. The Financial Conduct Authority, which has already sent warning notices to five other traders, did not name the latest two.

  • March 27- Canadian yogawear retailer Lululemon Athletica Inc forecast lower-than-expected current-quarter results, after posting a quarterly profit that was almost unchanged from a year earlier. Lululemon earned $109.7 million, or 75 cents per share, in the fourth quarter ended Feb. 2, nearly unchanged from $109.4 million, or 75 cents per share, a year earlier.

  • March 27- Winnebago Industries Inc, the largest U.S. motor home maker, reported a 53 percent jump in quarterly profit as it sold more motorhomes to dealers. The company's net income rose to $9.6 million, or 35 cents per share, in the quarter ended March 1 from $6.3 million, or 22 cents per share, a year earlier.

  • LME halts warehouse reform after losing court case Thursday, 27 Mar 2014 | 7:15 AM ET

    LONDON, March 27- The London Metal Exchange will not implement reforms of its warehousing network as scheduled next month after it lost elements of a legal case brought by Russian aluminium giant Rusal. "The LME is disappointed with the outcome of the judicial review," the exchange said in a statement.

  • March 27- Accenture Plc, recently chosen as the lead contractor for the Obamacare enrollment website, reported a smaller-than-expected 1 percent rise in quarterly revenue due to lower demand in its consulting business.

  • March 27- La Quinta Holdings Inc, a hotel chain backed by Blackstone Group LP, said it expects to sell 37.2 million shares in its initial public offering at between $18 and $21 per share. Irving, Texas- based La Quinta will have an equity valuation of $2.57 billion at the top of the expected price range.

  • *Beijing eager to liquidate massive cotton stock piles. The move, aimed at reducing burgeoning state inventories that now account for 60 percent of global stocks, could weigh on imports and global prices of cotton, especially since Beijing has already slashed sales prices for the fibre from its reserves to narrow the advantage of overseas supplies.

  • LONDON, March 27- Emerging currencies held near multi-week highs to the dollar on Thursday, buoyed by Chinese stimulus hopes and stable U.S. yields, while Ukrainian bond prices surged to two-month highs on news of a $14- $18 billion IMF loan.

  • LONDON, March 27- Spanish, Italian and Portuguese bond yields hit new historical lows on Thursday, with speculation about further European Central Bank monetary policy easing prompting investors to seek higher returns in lower-rated assets.

  • March 27- Spherix Inc, which buys and licenses technology patents, said it filed a lawsuit against Cisco Inc alleging infringement of 11 patents Spherix acquired from Nortel Networks.

  • UPDATE 2-IMF agrees $14-18 bln bailout for Ukraine Thursday, 27 Mar 2014 | 6:33 AM ET

    KIEV, March 27- The International Monetary Fund has agreed a $14- 18 billion two-year bailout for Ukraine, a deal to help it recover from months of turmoil that will also unlock further credits making a total of $27 billion.