Latest Business News Wires - Business Headlines


  • *Corn extends gains after bullish USDA estimates. Wheat climbed about 1 percent as the first purchase of U.S. wheat this season by Egypt's state buyer helped Chicago futures rebound from a three-and-half year low hit on Friday following the U. S Department of Agriculture's crop estimates.

  • US STOCKS-Futures dip as earnings season heats up Monday, 13 Jan 2014 | 7:21 AM ET

    *Suntory Holdings to acquire Beam for $83.50 per share. *Earnings are expected from 29 companies in the S&P 500 this week, including banks such as Morgan Stanley, Citigroup Inc, Goldman Sachs and JPMorgan Chase& Co.. *Results are also due from companies including First Horizon National Corp, M&T Bank Corp, People's United Financial Inc and Charles Schwab Corp..

  • LONDON, Jan 13- Suntory Holdings Ltd said on Monday it plans to buy Beam Inc for $16 billion, including debt, making the Japanese company the world's third-largest maker of distilled drinks. Beam's brands include Jim Beam, Maker's Mark, Sauza, Canadian Club and Courvoisier.

  • Jan 13- Asset manager Legg Mason Inc said it estimated earnings of between $79 million and $83 million for the quarter ending Dec. 31, above the average analyst estimate. The company said earnings would be between 65 cents and 68 cents, beating the average analyst estimate of 60 cents, according to Thomson Reuters I/B/E/S.

  • *Expects 4th- qtr net revenue $513 mln- $518 mln, down from $535 mln- $540 mln. *Forecasts earnings of 71- 73 cents/ share, down from 78- 80 cents. The company said on Monday it expects net revenue to range between $513 million and $518 million for the quarter ending Feb. 2, down from $535 million to $540 million earlier.

  • NEW YORK, Jan 13- Ask self-employed workers about retirement savings, and a shocking number give exactly the same answer: "What retirement savings?" New data from TD Ameritrade Holding Corp reveals the worrisome state of the retirement savings of independent workers.

  • That idea has caught on, especially recently: In 2013, everyone from 401 providers to mom and pop embraced index funds, sending almost $2 into them for every $1 they invested in actively managed funds, according to Morningstar.

  • Jan 13- Lexicon Pharmaceuticals Inc said its Chief Executive would leave and it would cut its workforce by about 45 percent, as it moves its focus away from drug discovery to completing the studies of its drugs in late-stage development.

  • Downward slog: Lululemon cuts forecast; shares drop Monday, 13 Jan 2014 | 6:52 AM ET
    A woman wearing Lululemon Athletica clothing leads a yoga class in Miami Beach, Florida

    Upscale yogawear retailer Lululemon Athletica cut its forecast for the fourth-quarter due to weak sales in January.

  • LONDON, Jan 13- Total has become the first major oil and gas company to strike a deal to explore for shale gas in Britain, boosting a technology which has brought cheap energy to the United States but which is bitterly opposed by environmentalists.

  • *Dubai ruler says "everybody will benefit" if Iran sanctions lifted. DUBAI, Jan 13- The ruler of Dubai, a Gulf trade and investment hub with strong links to Iran, said in remarks broadcast on Monday that the international community should ease sanctions on the Islamic Republic.

  • Jan 13- Goldcorp Inc said it offered to buy smaller gold miner Osisko Mining Corp in a C $2.6 billion cash-and-stock deal.

  • Jan 12- Target Corp plans to make "significant changes" in light of the data breach during the holiday shopping season when hackers stole personal information of millions of customers, the U.S. retailer's chief executive said in an interview with CNBC aired on Monday.

  • Eminence backs Men's Wearhouse bid for Jos. A. Bank Monday, 13 Jan 2014 | 6:20 AM ET
    A Men's Wearhouse in New York

    Men's Wearhouse's largest shareholder, Eminence Capital, plans to support the retailer's $1.61 billion offer for rival Jos. A. Bank, the Wall Street Journal reported, quoting people familiar with the matter.

  • Jan 13- Upscale yogawear retailer Lululemon Athletica Inc cut its forecast for the fourth-quarter due to weak sales in January. The company expects net revenue to range between $513 million and $518 million for the quarter ending Feb. 2, down from $535 million to $540 million earlier.

  • PARIS, Jan 13- The outlook for advanced economies is improving as momentum shifts up a gear in the crisis-weary euro zone, the OECD's monthly leading indicator showed on Monday.

  • *Freeport halts copper exports to await clarity on rules. JAKARTA, Jan 13- Indonesia's mining sector was left in turmoil on Monday after the government pushed through a controversial ban on exporting unprocessed mineral exports.

  • FRANKFURT, Jan 13- The German state of Bavaria may offer insolvent bookseller Weltbild financial backing to try to avert thousands of job losses, a newspaper cited Bavarian state premier Horst Seehofer as saying.

  • LONDON, Jan 13- Gold steadied on Monday off an earlier one-month high, with a rally sparked by last week's weak U.S. jobs data running out of steam as analysts predicted the Federal Reserve will continue tapering monetary stimulus.

  • Euro in demand among criminals Monday, 13 Jan 2014 | 5:30 AM ET

    FRANKFURT, Jan 13- The euro is gaining currency among criminals. The number of counterfeit euro banknotes withdrawn from circulation in the second half of last year rose by 11.4 percent from the first half to 353,000, the European Central Bank said on Monday.

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