Latest Business News Wires - Business Headlines


  • WASHINGTON, April 23- Japan's Showa Corp has agreed to plead guilty to fixing the prices of electric power steering assemblies and to pay a $19.9 million fine, the Justice Department said on Wednesday.

  • BRUSSELS, April 23- Britain should get a fair hearing for its concerns about the European Union but must not block extra powers for the euro zone, Jean-Claude Juncker, a leading candidate to take one of the bloc's top posts, said on Wednesday.

  • April 23- Dow Chemical Co, the No. 1 U.S. chemical maker by sales, reported a stronger-than-expected rise in quarterly profit as cost controls helped to boost margins in its divisions that make coatings, plastics and crop-protection products. Dow Chemical cut 5 percent of its workforce and shuttered 20 plants in late 2012..

  • BANGKOK, April 23- PTT Exploration and Production Pcl, Thailand's top oil and gas explorer, has bought Hess Corp's assets in Thailand in a $1 billion deal as part of its attempt to boost its gas business, the company's CEO said on Wednesday.

  • On a non-adjusted basis, however, Boeing's profit slid 13 percent to $965 million, or $1.28 per share, down from $1.11 billion, or $1.44 per share, a year earlier, the company reported on Wednesday. But analysts pointed to strong cashflow generation and Boeing's increase in share buy-backs in the quarter as reasons to push the stock higher.

  • NEW YORK, April 23- U.S. stocks dipped at the open on Wednesday despite upbeat corporate earnings as buyers appeared scarce following the longest streak of daily gains on the S&P 500 so far this year.

  • MOSCOW, April 23- Russia's Energy Ministry has proposed European Union Energy Commissioner Guenther Oettinger to hold a three-way meeting on gas between Russia, Ukraine and the European Commission in Moscow on April 28, a ministry spokeswoman said on Wednesday. "We send the letter to Oettinger proposing to hold the talks in Moscow on April 28," she told Reuters.


  • April 23- Ingersoll-Rand Plc, best known for its Trane airconditioners, forecast current-quarter earnings above estimates after reporting better-than-expected first-quarter results, helped by higher sales of its heating and cooling systems.

  • *Adjusted Q1 profit 33 cents a share compares with 29 cents estimate. Delta, the third-largest U.S. airline behind American Airlines Group Inc and United Continental Holdings Inc, said gains in business revenue and fees for items such as seat upgrades and baggage would bolster the second quarter.

  • Russia says receives Brussels proposal on gas talks Wednesday, 23 Apr 2014 | 9:20 AM ET

    MOSCOW, April 23- Russia has received a proposal from European Union Energy Commissioner Guenther Oettinger for a three-way meeting on gas between Russia, Ukraine and the European Commission, a spokeswoman at the Russian Energy Ministry said on Wednesday. She said that Moscow will reply later on Wednesday, proposing a date and place for the meeting.


  • *Rosneft met with Angola and Mozambique officials this week. MOSCOW, April 23- Russian oil producer Rosneft may expand in the African countries of Angola and Mozambique, where its boss Igor Sechin served as a Soviet translator in the early 1980 s.

  • Settlement time for U.S. trades closer to being shortened Wednesday, 23 Apr 2014 | 9:00 AM ET

    NEW YORK, April 23- The Depository Trust& Clearing Corporation, which processes all U.S. stock and fixed income trades, said on Wednesday it supports shortening the settlement cycle for U.S. equities, corporate and municipal bonds, and unit investment trust trades.

  • DETROIT, April 23- General Motors Co on Wednesday said it has shipped "thousands" of kits needed to repair the defective ignition switches linked to at least 13 deaths. GM is under investigation by U.S. safety regulators, Congress and the U.S. Department of Justice for why it did not catch the faulty part for over a decade.

  • LONDON, April 23- Copper was once again the stand-out in China's first-quarter imports of industrial metals. Yet China's net imports of refined nickel slumped 35 percent in Q1 2014.. Such contradictory outcomes say much about how both China's import demand for metals and the market's interpretation of that demand are changing.

  • April 23- Johnson Controls Inc reported a better-than-expected quarterly profit as higher vehicle production in key markets drove up sales of car seats and other auto parts. Johnson Controls cut its 2014 earnings forecast to adjust for the sale of the electronics business.

  • UPDATE 1-Northrop beats on earnings, lifts 2014 outlook Wednesday, 23 Apr 2014 | 8:46 AM ET

    WASHINGTON, April 23- Northrop Grumman Corp on Wednesday reported a higher-than-expected quarterly profit despite a drop in sales, and the U.S. weapons maker raised its earnings forecast.

  • US STOCKS-Futures imply lower open after recent rally Wednesday, 23 Apr 2014 | 8:41 AM ET

    *Boeing rallies after results, outlook; P&G edges down. *Key earnings on tap; Apple, Facebook out after the close. *Boeing Co reported first-quarter revenue that beat expectations and lifted its core earnings forecast to reflect a tax settlement gain, sending shares up 2.7 percent to $131.05 in premarket trading.

  • On a non-adjusted basis, however, Boeing's profit slid 13 percent to $965 million, or $1.28 per share, down from $1.11 billion, or $1.44 per share, a year earlier, the company reported on Wednesday. The increase reflects a tax settlement gain to be taken in the second quarter, and Boeing left 2014 forecasts for revenue, operating cash flow and deliveries unchanged.