Latest Business News Wires - Business Headlines


  • LONDON, May 14- The euro steadied against the dollar on Wednesday and rebounded from a 16- month trough against the British pound after the Bank of England doused expectations of monetary tightening in the near term.

  • *Mersch, Praet point to gradual pick up in loan demand. BERLIN, May 14- Top European Central Bank policymakers highlighted on Wednesday the importance of banks being able to meet rising loan demand as the economy recovers, suggesting the ECB may consider another liquidity injection.

  • Plug Power 1st-qtr loss widens on stock warrant charges Wednesday, 14 May 2014 | 7:20 AM ET

    May 14- Fuel-cell maker Plug Power Inc's net loss rose more than eight-fold in the first quarter, hurt by a $68.4 million charge related to its stock warrants. The company's net loss rose to $75.9 million, or 57 cents per share, in the quarter ended March 31, from $8.6 million, or 18 cents per share, a year earlier.

  • *Four million animal experiments carried out in UK in 2012. LONDON, May 14- More than 70 medical bodies in Britain, including Pfizer, GlaxoSmithKline and AstraZeneca, have signed a pledge to be more open about their use of animals in scientific experiments.

  • *Sony forecasts 50 bln yen net loss for year to March 2015. TOKYO, May 14- Sony Corp said it would step up a broad restructuring this year to tackle bloated costs and exit some unprofitable businesses, hoping to put behind it years of persistent losses.

  • *Coal tops the list for deaths in energy sector. *Coal is also a major polluter. Coal mining is responsible for more fatalities than the production of any other energy source due to poor working conditions in producing countries such as China, Turkey, South Africa, Indonesia and Colombia.

  • Deere posts stronger-than-expected profit Wednesday, 14 May 2014 | 7:12 AM ET

    May 14- Deere& Co on Wednesday posted a stronger-than-expected profit as cost cuts helped offset lower sales of its tractors, harvesters and earth-moving equipment. The Moline, Illinois- based company posted a profit of $980.7 million, or $2.65 a share, for the second quarter ended on April 30, down from $1.08 billion, or $2.76 a share, a year earlier.

  • European stock rally stalls; Portuguese banks sag Wednesday, 14 May 2014 | 7:11 AM ET

    *Germany's DAX hovers just below record high. PARIS, May 14- European shares paused on Wednesday after a two-month rally that propelled a number of indexes to multi-year peaks, as investors awaited confirmation of more stimulus from the ECB before they chased the market higher. Banco Espirito Santo lost 3.4 percent.

  • US STOCKS-Futures dip, with Dow, S&P off closing records Wednesday, 14 May 2014 | 7:10 AM ET

    *S&P 500, Dow coming off record closing highs. NEW YORK, May 14- U.S. stock index futures edged lower on Wednesday as investors found few reasons to keep pushing shares higher, with the Dow and S&P 500 both coming off record closing highs.

  • Coty posts net loss after impairment charge Wednesday, 14 May 2014 | 7:08 AM ET

    May 14- Perfume and cosmetics maker Coty Inc reported a quarterly loss, compared with a profit a year earlier, hurt by a charge related to its skin and body care business in China. Coty reported a net loss of $253.3 million, or 66 cents per share, in the third quarter ended March 31, compared with a profit of $20.4 million, or 5 cents per share, a year earlier.

  • May 14- Sears Holdings Corp said it was looking to sell its 51 percent stake in Sears Canada Inc and could even put the whole Canadian department store operator up for sale. Shares of Sears Holdings, controlled by hedge fund billionaire Eddie Lampert, rose 8 percent to $46.48 in premarket trading.

  • LONDON, May 14- At least six foreign exchange employees at Credit Suisse in London and New York, including head of FX spot trading in London Danny Wise, have left the Swiss bank in a cost-cutting drive, a source familiar with the matter said on Wednesday.

  • *Pfizer CEO questioned by UK lawmakers for a second day. *UK minister, scientists seek longer commitment on UK jobs. LONDON, May 14- Pfizer said it would ringfence the development of important drugs if it acquired AstraZeneca, rejecting a charge from the British company that a takeover would disrupt important research and put lives at risk.

  • MOSCOW, May 14- Gazprom and China's CNPC are pressing ahead with talks to reach agreement on a gas price to secure a long-awaited deal for Russia to supply China with gas, Russia's Interfax news agency reported on Wednesday. "The heads of CNPC and Gazprom reached an agreement to sign a contract during the visit of Russian President Vladimir Putin to China in May.

  • LONDON, May 14- Brent futures rose above $109.50 a barrel on Wednesday, reaching a two-week high, on the deteriorating situation in the Ukraine and expectations of a fall in U.S. crude oil inventories. Brent crude for June delivery was up 39 cents at $109.63 a barrel at 0953 GMT after closing up 83 cents.

  • *Platinum, palladium rise on South Africa. LONDON, May 14- Gold rose on Wednesday after the dollar and European equities came under pressure as investors awaited confirmation of further stimulus from the European Central Bank.

  • METALS-Nickel slips from 27-month highs, copper gains Wednesday, 14 May 2014 | 6:00 AM ET

    LONDON, May 14- Nickel prices slipped on Wednesday as a rally that had propelled the metal to 27 month highs ran out of steam, but concerns about tightening supplies are likely to keep prices supported. Three-month nickel on the London Metal Exchange fell 1 percent to $20,781 a tonne at 0936 GMT, after rising the last six trading sessions.

  • May 14- China's state-backed Citic Pacific Ltd said on Wednesday an independent financial advisor had found the terms and conditions of its proposed acquisition of some of its parent's assets "fair and reasonable".

  • *China's LNG imports rose 35 pct in Q1 to 5.62 mln T. SINGAPORE, May 14- China's imports of liquefied natural gas are growing at a record pace as it aims to use cleaner fuels to cut smog in big cities, creating a powerful new source of demand that has the potential to reshape the market for the super-chilled gas.

  • NEW DELHI, May 14- India's oil imports from Iran in April declined 42 percent from the previous month, data obtained from trade sources and compiled by Thomson Reuters Oil Analytics showed.