Latest Business News Wires - Business Headlines


  • *Q2 op profit 606 bln won vs 524 bln won analyst view. SEOUL, July 24- LG Electronics Inc signaled further improvement in its mobile business after record smartphone sales propelled the South Korean manufacturer to its highest quarterly profit in more than three years.

  • SPENCER, Mass., July 24- Tucked off a two-lane highway in a hilly, wooded section of central Massachusetts, a group of Roman Catholic monks has embraced a centuries-old tradition they hope can sustain their aging members in a world of rapidly rising health costs.

  • *Google's handling of removal requests has drawn criticism.

  • July 24- Loblaw Cos Ltd, Canada's largest grocer, reported a 37 percent rise in quarterly revenue, helped by sales from recently acquired Shoppers Drug Mart.

  • PulteGroup profit rises due to higher home prices Thursday, 24 Jul 2014 | 6:53 AM ET

    July 24- U.S. homebuilder PulteGroup Inc reported a 15 percent rise in quarterly profit as it sold homes at higher prices, but said orders fell 2.2 percent. Net income rose to $41.9 million, or 11 cents per share, in the second quarter ended June 30, from $36.4 million, or 9 cents per share, a year earlier.

  • LONDON, July 24- Luxury carmaker Bentley, part of Germany's Volkswagen, expects to increase sales volumes this year by less than previously forecast, Chief Executive Wolfgang Duerheimer said on Thursday.

  • Lilly beats forecasts, helped by cost controls Thursday, 24 Jul 2014 | 6:48 AM ET

    July 24- Eli Lilly and Co's quarterly revenue plunged due to generic competition for its Cymbalta depression drug and its Evista osteoporosis treatment, but overall results beat forecasts, helped by cost controls. The U.S. drugmaker on Thursday said it earned $734 million, or 68 cents per share, in the second quarter.

  • DEARBORN, Mich., July 24- Ford Motor Co's operating earnings for the second quarter beat Wall Street expectations as better-than-expected profit in North America and Europe countered weaker results than expected in Asia Pacific and South America.

  • *Euro STOXX 50 up 0.4 pct, FTSEurofirst 300 up 0.8 pct. The euro zone Euro STOXX 50 index was up 0.8 percent at 3,217.18 points while the broader FTSEurofirst 300 index index was up 0.4 percent at 1,381.21 points by 1021 GMT.

  • *Indonesia to revise rules on mineral export taxes next month. LONDON, July 24- Copper climbed to its highest level in 10 days and zinc hit a near three-year peak after better-than-expected Chinese factory data calmed fears about economic growth in the world's biggest metals consumer.

  • *China food regulator visits 581 food-related businesses. Shanghai police detained five people on Wednesday, including the head and the quality chief of Shanghai Husi Food, a supplier to foreign fast-food brands including KFC, McDonald's Corp and coffee chain Starbucks Corp over allegations it supplied out-of-date meat.

  • Breitburn Energy to buy QR Energy in $3 bln deal Thursday, 24 Jul 2014 | 6:40 AM ET

    July 24- Breitburn Energy Partners LP said it would buy QR Energy LP in a deal valued at about $3 billion, including debt, to become one of the largest oil producers structured as a master limited partnership.

  • *Italy outperforms after summer supply cancelled. LONDON, July 24- Euro zone bond yields edged up on Thursday as investors saw better-than-expected economic data as quelling the need for the European Central Bank to loosen monetary policy further.

  • Net earnings for the world's biggest fertilizer company by market capitalization fell to $472 million, or 56 cents per share, from $643 million, or 73 cents per share, a year earlier. Potash Corp had forecast 40 cents to 45 cents. Potash Corp raised its estimate of 2014 earnings to a range of $1.70 to $1.90 per share from a prior forecast of $1.50 to $1.80.

  • *China manufacturing PMI hits 18- month high; new orders surge. While China is relying on increased government stimulus to steer its economy away from reliance on exports and towards consumer spending, Europe has taken the opposite approach, combining fiscal austerity with near-zero interest rates.

  • LONDON, July 24- GlaxoSmithKline said on Thursday it is applying for regulatory approval for the world's first vaccine against malaria, designed for use in children in Africa.

  • Dunkin' Brands U.S. comparable sales miss estimate Thursday, 24 Jul 2014 | 6:20 AM ET

    July 24- Dunkin' Brands Group Inc, the parent of Dunkin' Donuts and Baskin-Robbins ice cream, reported weaker-than-expected U.S. quarterly same-restaurant sales, blaming, in part, an unseasonably cold and rainy start to the spring season. Sales at established Dunkin' Donuts franchises in the United State rose 1.8 percent in the second quarter.

  • Starwood profit rises as occupancy, room rates rise Thursday, 24 Jul 2014 | 6:14 AM ET

    July 24- Starwood Hotels& Resorts Worldwide Inc, owner of the Sheraton and Westin brands, reported an 11 percent rise in quarterly profit as occupancy and room rates increased. The company's net income rose to $153 million, or 80 cents per share, for second quarter ended June 30, from $138 million, or 71 cents per share, a year earlier.

  • LONDON, July 24- Unilever missed second-quarter sales expectations on Thursday, citing a slowdown in emerging markets and declining prices in developed ones. "Overall there's a slowdown in Asia," Chief Financial Officer Jean-Marc Huet told Reuters, citing China and Vietnam in particular.

  • Potash Corp profit falls, but tops company's outlook Thursday, 24 Jul 2014 | 6:12 AM ET

    Net earnings for the world's biggest fertilizer company by market capitalization fell to $472 million, or 56 cents per share, from $643 million, or 73 cents per share, a year earlier.