Latest Business News Wires - Business Headlines


  • UPDATE 2-Avon expects profit from N. America in 2015 Thursday, 31 Jul 2014 | 12:30 PM ET

    *Q2 revenue falls 13 pct, but Brazil improves. The cosmetics maker said in June it would cut about 600 jobs, largely in its North America unit, and said it expected restructuring efforts to save about $50- $55 million a year.

  • UPDATE 2-L-3 discloses accounting misconduct, fires four Thursday, 31 Jul 2014 | 12:29 PM ET

    *L-3 to take related pretax charge of $84 mln. July 31- L-3 Communications Holdings Inc said it fired four employees as part of an ongoing internal review that revealed overstatement of net sales and cost overruns in the company's aerospace business.


  • BRUSSELS, July 31- The European Union has published a law that will curb arms sales to Russia and to cut off financing for five major Russian banks over Moscow's support for rebels in Ukraine.

  • COLUMN-Ruminating cattle and leaky gas pipelines: Kemp Thursday, 31 Jul 2014 | 12:22 PM ET

    LONDON, July 31- Supporters of natural gas promote it as a clean "bridge fuel" between the coal-and-oil dominated energy system of the present and the zero-emissions system of the future based on renewables and nuclear power. Shifting to gas is at the heart of the U.S. Environmental Protection Agency's proposed new rules for power plant emissions.

  • *Investors fret over Argentina default fallout. *Exxon, Whole Foods both fall after results. NEW YORK, July 31- U.S. stocks slumped in a broad decline on Thursday, with the S&P 500 falling below a key technical level and erasing its gains for the month as concerns mounted over the strength of overseas economies and ongoing tensions with Russia.

  • *Wheat flat in consolidation trading. *Corn, soy, wheat all on track for monthly losses. "The beans firmed up due to some speculators taking advantage of the weakness earlier in light of the very strong demand we are seeing," said Terry Reilly, an analyst with Futures International in Chicago.

  • New Paris hotel joins race to pamper the super rich Thursday, 31 Jul 2014 | 12:19 PM ET

    *Hotel helps Paris compete against others luxury capitals. It is part of a battle to attract Asia's new class of super-rich that not only pits the world's top hotel groups against each other but also cities such as Paris, New York and London.

  • July 31- French telecoms operator Iliad SA has made a buyout offer for T-Mobile USA Inc, a person familiar with the matter said, countering an offer by Sprint Corp..

  • The assembly's about-turn on laws it refused to back a week earlier offers relief to Kiev's Western backers, who had feared Ukraine was sliding deeper into political chaos and might renege on an international bailout as it heads into an election period.

  • July 31- U.S. health insurer Cigna Corp said on Thursday that medical costs for its individual customers were higher than expected in the second quarter, adding to investor worries that spending is on the rise. Cigna shares fell 5 percent, and a sell-off begun early this week in other insurers including Aetna Inc and WellPoint Inc continued.

  • MOSCOW, July 31- Western sanctions will force foreign shareholders to dig deeper in their pockets to fund Russia's Yamal LNG project, key for Moscow's plans to carve out a greater share of the frozen sea-borne gas market, Novatek said on Thursday.

  • ZURICH, July 31- Family-owned Swiss private bank Rothschild Bank AG won't pay its owners, the descendants of the bank's famous founding family, a dividend this year, after it swung to a loss following a decision to cooperate with a U.S. tax evasion crackdown.

  • JOHANNESBURG, July 31- South Africa's Sibanye Gold remains on the hunt for a platinum asset and has Anglo American Platinum's mines in its sights, ready to make a move if the owner decides on either a straight sale or a separate listing for the assets.

  • July 31- Kellogg Co, the world's largest maker of breakfast cereal, cut its full-year adjusted sales and profit forecasts as demand for its Corn Flakes and Special K cereals continued to wane in the United States, its biggest market.

  • MOSCOW/ ATHENS, July 31- Russia has banned soy imports from Ukraine and may impose restrictions on Greek fruits and U.S. poultry next week, Russian news agencies reported on Thursday, in what could be responses to new Western sanctions.

  • *Wall St tumbles with Dow, S&P turning negative for July. NEW YORK, July 31- Doubts on whether stock markets can ride out a tightening of U.S. monetary policy dominated trade on Thursday, sending major U.S. stock indexes down more than 1 percent, while the dollar edged higher against a basket of major currencies.

  • *Yield curve steepens from five-year lows. NEW YORK, July 31- U.S. "There is some month-end buying, both here and in Europe," said Dan Mulholland, managing director in Treasuries trading at BNY Mellon in New York.

  • July 31- Quintiles Transnational Holdings Inc, the world's largest medical contract research provider, posted lower-than-expected growth in its product development segment, sending its shares down almost 6 percent. "PD results were mixed, as were bookings in the segment," ISI Group LLC analyst Ross Muken said in an email.

  • TORONTO, July 31- Shaw Communications Inc will pay $830 million to buy U.S. data center services provider ViaWest Inc, the Canadian media and cable company said on Thursday, in a deal aimed at bolstering its cloud computing credentials. Shares in Shaw slipped 2 percent to C $24.75 in morning trade on the Toronto Stock Exchange.