Latest Business News Wires - Business Headlines


  • Noting the rocketing growth of the global asset management industry, which is on track to more than quadruple in size by 2050 to $400 trillion, Bank of England executive director for financial stability Andy Haldane argued that funds may require closer and tighter supervision by regulators.


  • CRUDE OIL FUTURES SETTLE AT $102.56/ BBL, UP $2.12, 2.1 PCT.

  • Intel closes Costa Rica operation, cuts 1,500 jobs Tuesday, 8 Apr 2014 | 2:54 PM ET

    SAN FRANCISCO, April 8- Chipmaker Intel, struggling with a shrinking personal computer market, is shutting its assembly and test operation in Costa Rica and eliminating 1,500 jobs, a spokesman said on Tuesday.

  • U.S. FDIC adopts tougher bank leverage rules Tuesday, 8 Apr 2014 | 2:51 PM ET

    WASHINGTON, April 8- The U.S. Federal Deposit Insurance Corp voted on Tuesday to adopt tougher leverage requirements for the biggest U.S. banks. The rules set a leverage ratio of 6 percent for big banks and 5 percent for their holding companies. The new requirements would take effect in 2018, regulators said.

  • WASHINGTON, April 8- The International Monetary Fund on Tuesday predicted the global recovery would strengthen this year and next as output in richer nations picked up, but it warned of rising risks in emerging economies.

  • WASHINGTON, April 8- U.S. securities regulators should not be so quick to scale back the power of the states to police certain smaller public stock deals, a top U.S. Securities and Exchange Commission official warned on Tuesday.

  • TORONTO, April 8- Canadian housing starts fell more than expected in March and building permits dropped sharply in February, according to data released on Tuesday that suggests the country's robust housing market is cooling.

  • *Prices rise, Treasury sells $30 billion three-year notes. *Treasury to sell $21 billion 10- year notes Wednesday. NEW YORK, April 8- U.S.

  • NEW YORK/ LONDON, April 8- ICE arabica coffee climbed on Tuesday, extending gains seen since late last week, as dry weather forecasts for Brazil exacerbated worries over crop damage in the world's top producer.

  • CHICAGO, April 8- CME Group said technical issues had shut down contracts on its Globex electronic trading system on Tuesday afternoon with primarily agricultural and grains contracts affected and no impact on oil or metals. Trading continued in the open outcry pits on the floor of the Chicago Board of Trade.

  • *Wal-Mart has yet to apply to open retail stores in India. MUMBAI, April 8- Wal-Mart Stores Inc on Tuesday announced plans to open 50 more wholesale outlets in India and start online operations to sell to small shopkeepers, several months after it decided against opening its own retail stores there.

  • WASHINGTON, April 8- Financial regulators will vote shortly to finalize rules requiring the biggest U.S. banks to meet a 6 percent leverage ratio, the regulators said in documents released on Tuesday. The rules closely follow a proposal issued by the Federal Reserve, Federal Deposit Insurance Corp and Office of the Comptroller of the Currency last year.

  • April 8- Ukraine, battling political crisis, is having to find ways to finish spending $800 million it earned through Kyoto Protocol emissions rights sales, after Japanese officials warned Kiev it had a year before Tokyo would demand its money back.

  • Globex trading shut due to technical problems-CME Tuesday, 8 Apr 2014 | 1:59 PM ET

    CHICAGO, April 8- CME Group said that its Globex electronic trading system was shut down on Tuesday afternoon due to technical issues.

  • NEW YORK, April 8- The dollar and euro fell sharply against the yen on Tuesday as hopes for additional stimulus out of Japan faded, while bargain- hunting on Wall Street lifted stock prices after three days of losses.

  • *U.S. says Moscow behind separatists in eastern Ukraine. NEW YORK, April 8- Global oil prices surged on Tuesday as a weaker U.S. dollar boosted buying, while expectations for bullish inventory reports in the U.S. and fresh unrest in eastern Ukraine lent support. "Unless we see additional movements inside of Ukraine, then these gains here will be short lived."

  • NEW YORK/ LONDON, April 8- Gold rose 1 percent on Tuesday on a sharply lower dollar and as renewed tensions between the United States and Russia over Ukraine burnished bullion's safe-haven appeal.

  • *Louisiana jury orders $6 bln damages from Takeda, $3 bln from Eli Lilly. *Award unlikely to stand after Takeda and Eli Lilly challenges. Eli Lilly and Co, Takeda's co-defendant in the case, was ordered to pay $3 billion in punitive damages by the jury in Louisiana on Monday.

  • JOHANNESBURG, April 8- South Africa's central bank expects the rand to remain volatile although it is unlikely to intervene in the market to try and stabilise the currency, Governor Gill Marcus said on Tuesday.