Latest Business News Wires - Business Headlines


  • *Investors fret over Argentina default fallout, Russia tensions. Problems in overseas economies added to the bearish tone, with Argentina defaulting on its debt for the second time in 12 years.

  • Aging of U.S. businesses could slow economy -study Thursday, 31 Jul 2014 | 5:31 PM ET

    WASHINGTON, July 31- Older companies make up a much larger share of U.S. businesses than they did 20 years ago, indicating a decline in entrepreneurship that could lead to slower economic growth, a study released on Thursday said. The authors, economists Robert Litan and Ian Hathaway, said their research indicates it is difficult for new companies to succeed.

  • UPDATE 1-Western Union profit falls as costs rise Thursday, 31 Jul 2014 | 5:30 PM ET

    July 31- Western Union Co, the world's largest money-transfer company, reported a 2 percent fall in quarterly profit as compliance costs rose. Western Union, which gets most of its business from migrant workers sending money home, has lost ground in Mexico, a key market, after it was forced to close about 7,000 outlets over the last two years due to compliance issues.

  • NEW YORK, July 31- Banks gave Puerto Rico's electric power authority a two-week extension on $671 million in revolving loan facilities on Thursday as the troubled authority negotiates with creditors over its vital near-term cash needs. Of that, $146 million was due to Citigroup Inc on Thursday.

  • Live Nation 2Q profit drops 61 percent Thursday, 31 Jul 2014 | 5:16 PM ET

    BEVERLY HILLS, Calif.— Live Nation Entertainment Inc. on Thursday reported earnings that declined by 61 percent in its second quarter, and missed analysts' expectations. The Beverly Hills, California- based company said profit declined to $22.9 million, or 11 cents per share, from $58.1 million, or 30 cents per share, in the same quarter a year earlier.

  • July 31- Outerwall Inc's quarterly profit fell by more than half as fewer movie DVD releases led to lower revenue for its Redbox video rental kiosk business.

  • How the Dow Jones industrial average did Thursday Thursday, 31 Jul 2014 | 5:12 PM ET

    The Dow Jones industrial average had its worst one-day drop since February, erasing its gain for the year, as traders worried about weak corporate earnings and the looming end of economic stimulus from the Federal Reserve.

  • Damaged Delaware bridge on I-495 partially reopens Thursday, 31 Jul 2014 | 5:12 PM ET

    DOVER, Del.— Delaware transportation officials on Thursday partially reopened a bridge on a key East Coast interstate that was closed in early June because several supporting columns were tilting. The southbound lanes of the Interstate 495 bridge over the Christina River were reopened shortly before 5 p.m., about a month earlier than expected.

  • WTC steel company CEO arrested on fraud charges Thursday, 31 Jul 2014 | 5:10 PM ET

    NEW YORK— The Canadian owner of a company that won nearly $1 billion in contracts to provide steel for the construction of the World Trade Center's tallest building and a transit center was arrested Thursday on charges he defrauded a program meant to benefit minority- and women-owned businesses.

  • Tesla posts 2Q loss, prepares Nevada factory site Thursday, 31 Jul 2014 | 5:09 PM ET

    PALO ALTO, Calif.— Electric car maker Tesla Motors widened its loss in the second quarter as it prepared for the launch of a new SUV and started work on a massive new battery plant. But the company is still considering sites in California, New Mexico, Arizona and Texas, and won't make a final decision for several months.

  • AP Top Extended Financial Headlines At 5:07 p.m. EDT Thursday, 31 Jul 2014 | 5:07 PM ET

    Argentina says it's open to further debt talks with holdout investors amid default Iliad of France makes surprise bid for majority of T-Mobile US, challenging Sprint's overtures Stocks plunge, wiping out July gains; Market logs first loss since January Twitter says government requests for user data grew sharply in past 6 months Alpha says it plans 1,100 layoffs at coal mines in W.Va., cites weak markets, regulation Federal agency finds that debit card purchases of less than $24 produce large overdraft fees LinkedIn posts 2 Q loss but stock soars after stronger-than-expected results GE spinoff Synchrony Financial flat after initial public offering Tesla prepping possible site in Nevada for new battery factory, but final decision months away Even as jobs return, lagging incomes and home equity leave many Americans feeling glum

  • AP Top Financial News At 5:07 p.m. EDT Thursday, 31 Jul 2014 | 5:07 PM ET

    Amid default, Argentina says its open to talks Iliad of France makes surprise bid for T-Mobile US US stocks plunge, wiping out July's gains Twitter: Govt. requests for user data increased 1,100 layoffs planned at Alpha coal mines in W.Va. Debit overdraft fees often exceed cost of purchase LinkedIn stock jumps after 2 Q results GE spinoff Synchrony flat in stock market debut Tesla says decision on battery factory months away As US job market strengthens, many don't feel it

  • Top 20 Concert Tours from Pollstar Thursday, 31 Jul 2014 | 5:03 PM ET

    1. Bruce Springsteen& The E Street Band; $1,520,075; $98.69. 4. Zac Brown Band; $1,061,892; $47.67. 5. Dave Matthews Band; $1,059,266; $54.34.

  • DETROIT, July 31- Tesla Motors Inc, the California- based maker of luxury electric cars, said it lost $61.9 million, or 50 cents a share, in the second quarter, as revenue nearly doubled to $769.3 million. In the year-ago quarter, Tesla lost $30.5 million, or 26 cents a share, on revenue of $405.1 million.

  • *Shanghai index rises 7 pct in eight days, highest since Dec 2013. *Hong Kong- Shanghai stock connector scheme should boost liquidity.

  • NEW DELHI/ SINGAPORE, Aug 1- India is scrambling to crack down on a new gold smuggling tactic that it fears could accelerate a flood of illegal imports of the precious metal into the world's second-biggest buyer.

  • In California, however, insurers' projections of 2014 medical spending were fairly accurate. Other companies planning to sell 2015 Obamacare policies in California include Kaiser Permanente, Health Net, and Molina Healthcare. California is the largest of about a dozen states to announce proposed 2015 rates.

  • Marathon Petroleum 2Q profit rises 44 percent Thursday, 31 Jul 2014 | 4:57 PM ET

    FINDLAY, Ohio— Marathon Petroleum Corp. on Thursday reported earnings that rose by 44 percent in its second quarter, and topped analysts' expectations. The Findlay, Ohio- based oil refiner said net income rose to $855 million, or $2.95 per share, from $593 million, or $1.83 per share, in the same quarter a year earlier.

  • Expedia 2Q profit climbs 25 percent Thursday, 31 Jul 2014 | 4:57 PM ET

    BELLEVUE, Wash.— Expedia Inc. on Thursday reported profit that rose by 25 percent in its second quarter, and topped analysts' expectations. The Bellevue, Washington- based company said net income increased to $89.4 million, or 67 cents per share, from $71.5 million, or 51 cents per share, in the same quarter a year earlier.

  • NEW YORK, July 31- US high-yield funds have seen a third consecutive week of outflows, Lipper reported on Thursday, with US $1.476 bn being pulled out of the asset class. For the three weeks ended 7/ 30, the total outflow is $5.536 bn.