Latest Business News Wires - Business Headlines


  • *ShFE copper may see another bout of short-covering- Standard Bank. A stoppage in ore shipments from Indonesia since January, as miners Freeport-McMoRan Copper& Gold Inc and Newmont Mining Corp renegotiate taxes on their exports with the government, has wiped out the year's expected surplus.

  • *Tankan due 8:50 a.m. July 1. TOKYO, June 27- The mood of Japanese manufacturers probably worsened slightly in the three months to June but it will likely improve in the following quarter, reflecting expectations for a gradual recovery after a sales tax hike put a dent in consumer spending.

  • *Lawsuit suggests scandal at Qingdao port hitting other sectors.

  • China appoints new housing minister - Xinhua Friday, 27 Jun 2014 | 12:09 AM ET

    BEIJING, June 27- China has appointed Chen Zhenggao as its new housing minister, replacing Jiang Weixin who is retiring, the official Xinhua news agency reported on its Weibo microblog on Friday.

  • *Vietnam, Thailand likely to be biggest sources of rice. MANILA, June 27- The Philippines, one of the world's biggest rice buyers, said on Friday that it would loosen restrictions on imports of the grain, boosting opportunities for key suppliers in the region such as Vietnam and Thailand.

  • SEOUL, June 27- South Korea's industrial output shrank the most in over five years in May, adding to signs the economic recovery is losing momentum and lending credence to the growing view the central bank would delay the start of rate hikes to support growth.

  • *China finds $15 bln of loans tied to falsified gold deals. SINGAPORE, June 27- Gold was little changed in early Asian trading on Friday but could face choppy trading on concerns over weak physical demand in top consumer China and the discovery of $15 billion of loans tied to falsified gold deals in the country.

  • China's yuan rises to 2-week high, outlook brightens Thursday, 26 Jun 2014 | 11:40 PM ET

    HONG KONG, June 27- China's yuan rose to two-week highs against the dollar on Friday, despite a weaker midpoint fixing, as seasonal dollar demand from companies at the quarter-end has lessened. The People's Bank of China fixed the midpoint at 6.1543, 0.01 percent lower than the previous day's 6.1538.

  • CARACAS, June 26- Colombia's biggest coal miner, Cerrejon, said late on Thursday it was transporting coal again from its mine to port after protesters ended a six-day blockade on its private railway line that took the company to the brink of defaulting on shipments.

  • N.Korea's economy grows in face of sanctions Thursday, 26 Jun 2014 | 11:00 PM ET

    SEOUL, June 27- North Korea's closed economy rose last year at a slightly slower pace compared to 2013, South Korea's central bank data showed on Friday, even as the United Nations toughened sanctions for its nuclear and missile programmes.

  • DHAKA, June 24- It took Western safety inspectors only about an hour to tour a factory the size of three football fields before ordering a partial shutdown of Sonia& Sweaters Ltd, a Bangladesh clothing supplier to Wal-Mart Stores Inc and Debenhams.

  • JGBs steady; stronger Treasuries, sagging Nikkei support Thursday, 26 Jun 2014 | 10:43 PM ET

    TOKYO, June 27- Japanese government bond prices were mostly steady on Friday, with an overnight gain in U.S. Treasuries and sagging Tokyo stocks supporting the market. Analysts said the CPI rise is expected to lose momentum towards the summer, keeping intact expectations for the Bank of Japan to ponder easing monetary policy as the end of the year approaches.

  • BEIJING, June 27- Annual growth in China's industrial profits slowed to 8.9 percent in May, the weakest pace this year, signalling challenges facing Chinese firms despite signs of stabilisation in the economy.

  • CARACAS, June 26- Protesters blocking the railroad of Colombia's largest coal miner, Cerrejon, ended their protest late on Thursday after reaching an agreement with the company, the manager of the third-party contractor that employs them told Reuters. The company is a joint venture between Anglo American Plc, BHP Billiton and Glencore Xstrata Plc.

  • Nikkei falls on U.S. growth concerns; exporters weak Thursday, 26 Jun 2014 | 10:18 PM ET

    *Engineering shares extend gains on Toyota's fuel cell announcement. TOKYO, June 27- Japan's Nikkei share average slipped on Friday as concerns about U.S. economic growth hurt sentiment and as the stronger yen pulled down exporters.

  • MEXICO CITY, June 26- Mexico's state-run oil company Pemex said on Thursday it had record demand for its latest local debt issuance which was oversubscribed nearly four-fold. Investors aiming to purchase three separate Pemex debt offerings worth a total of 15 billion pesos pledged 57.5 billion pesos, or 3.8 times the amount issued, Pemex said in a statement.

  • SYDNEY, June 27- London copper on Friday remained on track to post small gains for the second month in a row, underpinned by a shortfall in supply that has helped push prices close to their highest since early March.

  • June 26- Norfolk Southern Corp said it would require its customers to give the railroad company legal protection against damage caused by explosions or leakage of hazardous materials carried in older tank cars. Norfolk Southern said the legal protection, which applies to older DOT-111 tank cars built before late 2011, would take effect on July 15.

  • June 26- Norfolk Southern Corp said it would require its customers to give the railroad company legal protection against damages caused by explosions or leakage of hazardous materials carried in older tank cars, The Wall Street Journal reported on Thursday.

  • Secretary of State John Kerry urged Saudi Arabia, Jordan and the United Arab Emirates to help encourage Iraq to form an inclusive government to tackle an Islamist insurgency that threatens to rend Iraq during talks with foreign ministers in Paris on Thursday.