Latest Business News Wires - Business Headlines


  • *Operating profit at 28.6 bln to 29.4 bln yuan vs 2012' s audited 19.96 billion yuan. BEIJING, Jan 15- Huawei Technologies Co Ltd posted an over 40 percent rise in annual operating profit as the Chinese telecom equipment maker expanded its presence in emerging markets, countering reduced revenue growth hit by accusations of cyber-espionage.

  • DETROIT, Jan 14- A top executive with General Motors said on Tuesday a planned shutdown of the automaker's plants in Australia could allow South Korea to ship more cars to the region. General Motors said last month it would stop making cars in Australia by 2017 due to high costs and a cripplingly strong currency.

  • Jan 14- In 2010, senior executives at JPMorgan Chase& Co came to realize that interest rates, already at zero for more than a year, ultimately had only way to go: up. "It costs us a significant amount of current income to be positioned this way," JPMorgan Chief Executive Jamie Dimon wrote in a letter to shareholders in April.

  • BOSTON, Jan 14- Companies that help Target Corp process payments could face millions of dollars in fines and costs resulting from the unprecedented data breach that struck the retailer over the holiday shopping season.

  • The $1.1 trillion spending bill unveiled by the U.S. House of Representatives and Senate would allot the U.S. Securities and Exchange Commission $1.35 billion for the fiscal year ending Sept. 30, 2014, a figure the agency said "falls far short of what we need to fulfill our responsibilities."

  • BEIJING, Jan 15- China's Huawei Technologies Co Ltd, the world's second-largest telecommunication equipment maker, on Wednesday said revenue likely rose last year by around 8 percent, less than its target of 10 percent.

  • Jan 14- Roughly 60,000 Silicon Valley workers won clearance to pursue a lawsuit accusing Apple Inc, Google Inc and other companies of conspiring to drive down pay by not poaching each other's staff, after a federal appeals court refused to let the defendants appeal a class certification order.

  • SYDNEY, Jan 15- London copper edged up on Tuesday after the World Bank raised its forecast for global growth for the first time in three years, boosting sentiment and burnishing the outlook for demand. *The most-traded March copper contract on the Shanghai Futures Exchange inched up 0.1 percent to 51,710 yuan a tonne.

  • LOS ANGELES, Jan 14- Venture capitalist Vinod Khosla on Tuesday issued a harsh rebuke to "60 Minutes" a week after the news magazine TV show broadcast a report saying that Silicon Valley and Washington have little to show for their investments in clean technology.

  • WASHINGTON, Jan 14- The World Bank on Tuesday raised its forecast for global growth for the first time in three years as advanced economies started to pick up pace, led by the United States. The bank expected stronger growth in the United States in particular, of 2.8 percent in 2014, from 1.8 percent last year.

  • *Toshiba climbs to 5-1/ 2 month high after UK nuclear deal. TOKYO, Jan 15- Tokyo's Nikkei stock average rebounded from a one-month low on Wednesday as a robust U.S. retail sales report helped ease concerns about the pace of growth in the world's largest economy- one of Japan's top trading partners.

  • Inadvertent overdose from combination drugs containing acetaminophen, also known as paracetamol in most countries outside the United States, accounts for nearly half of all cases of acetaminophen-related liver failure in the United States, the agency said.

  • Jan 14- Charter Communications unleashed a verbal attack on Time Warner Cable on Tuesday, saying the cable operator's executives had "failed" as Charter tried to rally investors to accept its bid. Charter's top executives slammed Time Warner Cable for having the industry's lowest customer satisfaction and "negative momentum."

  • SYDNEY, Jan 15- Asian shares made guarded gains on Wednesday as surprising strength in U.S. consumer spending reassured investors the recovery in the world's largest economy had not been derailed, lifting the dollar and Wall Street. Australia made the early running with a bounce of 0.6 percent, while Seoul managed a rise of 0.2 percent.

  • NEW YORK, Jan 14- A former Wells Fargo& Co broker in Miami has been ordered to pay $5.63 million for trading Burger King securities ahead of a 2010 buyout of the fast-food chain based on inside information he received from a client.

  • *U.S. crude for February delivery was up 2 cents at $92.61 a barrel by 0002 GMT, after finishing 79 cents higher on Tuesday.

  • SINGAPORE, Jan 15- Gold retreated for a second session on Wednesday, moving further away from a one-month high, as a rally in stock markets prompted by strong U.S. retail sales data dented the metal's appeal as a safe haven. *Spot gold eased 0.1 percent to $1,243.19 an ounce by 0011 GMT.

  • FORT LAUDERDALE, Jan 14- The unprecedented surge in U.S. aluminum premiums to record highs has renewed concerns about the dwindling supplies and rising costs of a key raw material for automotive and beverage can makers, even as the market struggles with big stockpiles. The jump has mystified General Motors Co, one of the biggest end-users of aluminum.

  • SAN FRANCISCO Jan 14- A Texas judge has upheld U.S. patents covering Allergan Inc's Lumigan glaucoma drug through 2027, the company said in a regulatory filing on Tuesday, helping to send its shares up 6 percent.

  • UPDATE 1-EU reaches deal on sweeping securities reform Tuesday, 14 Jan 2014 | 6:35 PM ET

    LONDON, Jan 14- Curbs on commodity speculation and ultra-fast share trading will be introduced across the European Union under an agreement reached on Tuesday on a broad reform of securities markets.

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