Latest Business News Wires - Business Headlines


  • *Gold prices in tight range. *Platinum, palladium on track for weekly gains. SINGAPORE, April 4- Gold edged lower on Friday as the market nervously awaited U.S. nonfarm payrolls data, heading for its longest weekly losing streak in over six months as equities firmed and optimism grew about the U.S. economy.

  • April 3- Latino-focused channel NuvoTV is nearing a deal to buy Madison Square Garden Co's Fuse TV and may announce the deal on Friday, Bloomberg reported, citing people with knowledge of the matter. Fuse, an American music television network, reaches about 74 million homes through pay-TV systems including DirecTV and Dish Network Corp..

  • SHANGHAI, April 4- The rare and dramatic slide in the yuan exchange rate that has shaken the outlook for the currency is unlikely to last long as trade rebounds and capital inflows resume. That would mark a nearly 4 percent strengthening from the nadir of 6.2370 hit on March 21.

  • Brent stays above $106; Libya ports restart eyed Thursday, 3 Apr 2014 | 10:45 PM ET

    *Russia hikes gas prices for Ukraine by 80 pct. May Brent crude was at $106.17 a barrel, down 2 cents, by 0227 GMT on track for a weekly loss of more than 1 percent, the biggest since the week ended Jan. 3.

  • *Sets back work in Brazil's No. 2 oilfield by about a month. RIO DE JANEIRO, April 3- Brazilian state-run oil company Petroleo Brasileiro SA suffered another setback in its effort to boost oil output last month when Italian contractor Saipem SpA dropped a 2.3 km steel pipe into the Atlantic Ocean.

  • SINGAPORE, April 4- London aluminium was on track for its biggest weekly gain in more than eight months on Friday, trading near a five-month top as a series of capacity cutbacks by top producers underpinned the market. Copper edged higher, recouping some of last session's decline which was driven by disappointment over China's stimulus measures.

  • WASHINGTON, April 3- A group of 10 U.S. lawmakers on Thursday urged Pentagon acquisition chief Frank Kendall to revamp the U.S. Army's $5 billion competition for a new armored vehicle to allow both tracked and wheeled vehicles to compete.

  • TOKYO, April 4- The Nikkei average slipped from a three-week high on Friday on caution before the release of U.S. jobs data, but speculation that the Bank of Japan may adopt more stimulus next week underpinned shares of real estate and brokerage firms.

  • This not entirely unwelcome problem is the result of Australia's mandatory pension contribution pension system, which is now worth A $1.5 trillion. That is a huge amount for an economy the size of Australia's- it is as large as the country's annual economic output and larger than its entire stock market capitalisation.

  • Three-month aluminium on the London Metal Exchange closed up 0.3 percent at $1,834, having earlier touched its highest since Nov. 4 at $1,846. Some investors have been upbeat on aluminium after a series of capacity cutbacks by producers, including U.S. producer Alcoa which shut down 147,000 tonnes in Brazil.

  • *Regulator urges banks to act to curb bad loans. *Move comes after banks' bad loan ratios reach 2- year high.

  • SINGAPORE, April 4- U.S. crude remained above $100 a barrel on Friday as escalating tensions between Ukraine and Russia offset a potential rise in Libyan crude supply. *May Brent crude was at $106.17 a barrel, up 2 cents, on track for a weekly loss of more than 1 percent as news of Libya's imminent ports restart dragged down oil prices.

  • SINGAPORE, April 4- Gold edged lower on Friday as the market nervously awaited U.S. nonfarm payrolls data, even as the metal headed for a third straight week of losses amid better-performing equities and growing optimism about the U.S. economy.

  • WASHINGTON, April 3- China should not doubt the U.S. commitment to defend its Asian allies and the prospect of economic retaliation should also discourage Beijing from using force to pursue territorial claims in Asia in the way Russia has in Crimea, a senior U.S. official said on Thursday.

  • NEW YORK, April 3- Trading firm KCG Holdings awarded its chief executive, Daniel Coleman, $10.4 million in 2013, the year in which the company was formed by the $1.4 billion takeover of Knight Capital Group by rival Getco, according to a regulatory filing.

  • Coke and investor spar over 2014 compensation plan Thursday, 3 Apr 2014 | 7:45 PM ET

    LOS ANGELES, April 3- Wintergreen Advisers, which says it owns more than 2.5 million shares of Coca-Cola Co on behalf of clients, on Thursday intensified its critique of the proposed 2014 equity compensation plan of the world's biggest soda maker.

  • ATLANTA, April 3- Celebrity chef Paula Deen's popular Savannah, Georgia, restaurant, which was at the center of a racially charged lawsuit against her, abruptly closed on Thursday after a decade in business. "Thank you for 10 great years," Uncle Bubba's Oyster House, owned by Deen and her brother, Bubba Hiers, told customers on its website.

  • *Asian shares in cautious mood after soft finish on Wall St. SYDNEY, April 4- Asian markets settled in for a subdued session on Friday as investors counted down the hours to the U.S. jobs report, while the euro nursed a grudge after the European Central Bank opened the door to more aggressive easing, albeit not just yet.

  • April 3- The U.S. Food and Drug Administration is increasing its oversight of Chinese manufacturers of pharmaceutical ingredients to improve the safety of the U.S. drug supply chain, the director of the agency's China office, Christopher Hickey, said on Thursday.