Latest Business News Wires - Business Headlines


  • April 11- Women's clothing retailer Coldwater Creek Inc on Friday filed for Chapter 11 bankruptcy, the latest in a growing list of retailers to seek protection from creditors as consumers keep a lid on spending. Coldwater Creek last October announced plans to seek strategic alternatives, including a possible sale.

  • *Sharp sell-off on Wall Street hits global stocks. LONDON, April 11- Global equities slipped to a two-week low on Friday as a sell-off on Wall Street led by technology and biotech shares and triggered by concerns that valuations are over stretched spread to Asia and Europe.

  • SHANGHAI, April 11- Hong Kong shares finished down 0.8 percent on Friday, with a sell-off in dual-listed shares dragging down Chinese shares listed in the territory.

  • LONDON, April 11- The yen fell back a third of a percent against the dollar on Friday but remained on track for its best week since the start of March as a slump in confidence in U.S. stock markets sent investors scurrying for traditional safe havens.

  • WASHINGTON, April 11- Developing nations may demand changes to the International Monetary Fund's emergency borrowing mechanism if the United States does not approve the 2010 governance overhaul for the global lender, Russia's finance minister said on Friday.


  • SYDNEY, April 11- London nickel reached its highest in 13 months on Friday and was on track to log its ninth weekly gain in 10 weeks, as a ban on ore exports from Indonesia fuelled prices of the metal used in stainless steel. China's stainless steel makers and traders stocked up on nickel ore exports from Indonesia ahead of the ban that came into force in January.

  • *Russia tensions rumble on, crimping appetite. LONDON, April 11- European shares slid at the open on Friday to leave them set for their first weekly loss in a month, tracking steep falls in Asian and U.S. stocks as equities came under pressure globally. The sector in Europe had rallied over 40 percent from the beginning of November 2012 to the start of April this year.

  • TOKYO, April 11- Sony Corp on Friday urged customers to stop using a model of its Vaio computers launched in February, saying there was a risk that the battery would catch fire. Sony said in a statement it had shipped 25,905 of the Vaio Fit 11 A in 52 countries since its launch.

  • BOAO, China, April 11- China's central bank governor, Zhou Xiaochuan, said on Friday that although credit growth was stable, the central bank remained vigilant against the risks from corporate indebtedness.

  • ISTANBUL, April 11- Moody's cut the outlook on Turkey's sovereign rating to negative on Friday, citing political turbulence, increased external financing pressure and weaker growth prospects, triggering losses in the lira.

  • Shanghai share index posts best week in two months Friday, 11 Apr 2014 | 3:16 AM ET

    SHANGHAI, April 11- The Shanghai share index on Friday clawed back some losses in early trading, when Thursday's excitement over new cross border investment rules gave way to concerns about fundamentals, to help it post the biggest weekly rise in two months.

  • Geopolitical tensions further dampened investor appetite before the weekend after Russian president Vladimir Putin warned the country's gas supplies to Europe could be disrupted if Moscow cuts the flow to Ukraine over unpaid bills, drawing a U.S. accusation that it is using energy "as a tool of coercion".

  • PARIS/ BERLIN, April 11- Japanese casual wear chain Uniqlo opens its first store in Germany on Friday, as it accelerates expansion in Europe in a bid by its parent company Fast Retailing Co Ltd to become the world's top fashion retailer by 2020.. "We have big goals in Europe- we would like to have the same business in Europe as in the U.S."

  • WASHINGTON, April 11- Russian Finance Minister Anton Siluanov said on Friday any oil-for-goods deal between Moscow and Iran would follow United Nations rules on sanctions, not U.S. rules. Siluanov would not say whether a deal had been sealed with Iran.


  • *Australia's Padbury Mining says ready to build new iron ore port. Padbury Mining said it was obtaining the funds from private Australian equity investors, who required anonymity, with an initial $470 million due in 40-45 days.

  • TOKYO, April 11- Japanese shares tumbled to six-month lows on Friday and posted their biggest weekly fall since the March 2011 tsunami and nuclear disaster after a rout in U.S. tech shares spurred selling by momentum players.

  • *Moscow wants to diversify away from Europe. The project fits well with a more aggressive eastward push by Moscow since the United States and European Union imposed sanctions over its annexation of Crimea from Ukraine last month.

  • *Libya's state National Oil Corp lifts force majeure for Hariga port. SINGAPORE, April 11- Brent futures eased towards $107 a barrel on Friday as the global supply outlook improved with more Libyan supplies expected to reach the market, although growing tension between the West and Russia over Ukraine put a floor under prices.