Latest Business News Wires - Business Headlines


  • LONDON, June 26- The Bank of England sought to put the brakes on Britain's surging housing market on Thursday by announcing a cap on home loans and tougher checks on whether borrowers can repay their mortgages. Britain's housing market has seen a stellar recovery thanks to record-low interest rates, falling unemployment and government-sponsored schemes.

  • Lennar revenue rises 28 pct on higher home sales Thursday, 26 Jun 2014 | 6:15 AM ET

    June 26- Lennar Corp, the second-largest U.S. homebuilder, reported a 28 percent increase in quarterly revenue as it sold more homes, and said orders rose 8 percent. Revenue rose to $1.82 billion in the second-quarter ended May 31 from $1.43 billion a year earlier. Net income was flat at $137.7 million, or 61 cents per share.

  • TOKYO, June 26- Caesars Entertainment Corp will likely agree to a debt restructuring with bondholders within a year and should have no problem financing a foray into the Japanese market, the debt-strapped casino operator's chief executive said on Thursday.

  • SAN FRANCISCO, June 26- Couchbase, a company that helps companies deal with the vast troves of data scattered around the Internet, said on Thursday it raised $60 million, further enabling it take on incumbents such as Oracle Corp and Microsoft Corp..

  • June 26- Cigarette maker Philip Morris International Inc cut its earnings forecast for 2014 and said it is proving to be a "complex and truly atypical" year for the company.

  • LONDON, June 26- Standard Chartered on Thursday warned of lower profits this year after a 20 percent slump in first-half earnings, as tougher regulations and low market volatility hit its trading business.

  • SINGAPORE, June 26- Vopak is considering building a liquefied natural gas terminal in Southeast Asia, the chief executive of the Dutch independent storage company said, as it is a key supply route for a region that is home to the world's top LNG buyers.

  • *China copper premiums extend recovery to $90- $100. *China copper financing to tighten as end of H1 nears. "Indonesia is not even exporting all that it is producing, so that should make the deficit even bigger," metals strategist Stephen Briggs at BNP Paribas in London said.

  • BANGKOK, June 26- Thai exports and factory output fell more than expected in May, showing that pillars of the economy remain weak and underscoring the tough task the military government faces kick-starting growth after seven months of political turmoil.

  • Glencore appoints first female board director Thursday, 26 Jun 2014 | 5:02 AM ET

    LONDON, June 26- Glencore, the last British blue-chip company with an all male board, has appointed Patrice Merrin as its first female board director. In May, Glencore chairman and former BP boss Tony Hayward said that the company would appoint a female director by the end of the year.

  • BRUSSELS, June 26- The European Commission has launched an investigation into Chinese and Taiwanese stainless steel makers after a complaint from European rivals who say they are exporting at unfairly low prices.

  • GLOBAL MARKETS-Stocks put aside U.S. growth setback Thursday, 26 Jun 2014 | 4:56 AM ET

    *Markets put positive spin on weak US growth data. LONDON, June 26- Stock markets in Europe and Asia looked past gains by Iraqi militants and poor first-quarter growth in the United States on Thursday, with some investors raising their forecasts for a U.S. economic bounce in coming months.

  • LONDON, June 26- Brent crude oil held steady near $114 a barrel on Thursday, with traders watching developments in Iraq for the possibility of export disruption from OPEC's second-largest producer.

  • SANAA, June 26- Suspected Islamist militants attacked an airport in the eastern Yemeni city of Seiyun early on Thursday, clashing with soldiers and occupying parts of the building, sources at the airport said.

  • NEW YORK, June 26- The New York State's attorney general has filed a securities fraud lawsuit against Barclays, accusing the British bank of giving an unfair edge in the United States to high-frequency trading clients even as it claimed to be protecting other customers from such traders.

  • European shares inch up; Barclays slides on lawsuit Thursday, 26 Jun 2014 | 4:36 AM ET

    *Barclays sags on U.S. fraud lawsuit linked to stock trading. PARIS, June 26- European stocks inched up early on Thursday, halting the previous session's sell-off, but Barclays fell 5 percent after the New York Attorney General filed a lawsuit against the bank.

  • SEOUL, June 26- South Korea's transport ministry on Thursday said it plans to fine Hyundai Motor Co an estimated 1 billion won for overstating the fuel economy of its Santa Fe sport utility vehicle.

  • SHANGHAI, June 26- Chinese gold processing firms have since 2012 used falsified gold transactions to borrow 94.4 billion yuan from banks, the country's chief auditor said.

  • *Growing supply may help China gain upper hand in pricing. SHANGHAI, June 26- Brazil's Vale, the world's biggest iron ore miner, is starting to offer discounts on shipments of the steelmaking raw material to top consumer China, joining Australian rivals in cutting prices following a global surge in production.

  • LONDON, June 26- German Bund yields dipped closer to all-time lows on Thursday with demand for safe haven assets expected to remain buoyed by ongoing geopolitical tensions in Iraq and Ukraine.