Latest Business News Wires - Business Headlines


  • MOSCOW, June 17- BP chief executive Bob Dudley said on Tuesday the oil company's operations in Iraq were so far unaffected by violence in the country. Along with the China National Petroleum Corporation, BP operates under a technical service contract with Iraq's state-owned South Oil Company to boost production from the Rumaila oilfield.

  • China shares fall after investment data disappoints Tuesday, 17 Jun 2014 | 3:08 AM ET

    HONG KONG, June 17- China shares fell on Tuesday after data showed the amount of new foreign direct investment that China attracted in May shrank by the most in 16 months. Industrial and Commercial Bank of China shed 1.3 percent and smaller Industrial Bank slumped 1.5 percent.

  • *Gold falls after hitting 3- week high in previous session. SINGAPORE, June 17- Gold fell further from a three-week high on Tuesday as investors withdrew money from the top bullion fund at the fastest pace in two months and as markets nervously waited for a Federal Reserve meeting this week.

  • *Italy only laggard among Europe's top-5 markets in May. BERLIN, June 17- Europe's car sales rose 4.3 percent in May as volume brands Skoda, Renault and Opel posted stronger growth than premium marques BMW and Audi, according to registrations data published on Tuesday.

  • LONDON, June 17- European regulators have validated AbbVie's application for an experimental all-oral regimen for patients infected with the most common genotype of hepatitis C virus and the therapy is now under accelerated assessment.

  • Nikkei posts modest gain but volume hits 2-month low Tuesday, 17 Jun 2014 | 2:20 AM ET

    TOKYO, June 17- Japanese stocks clawed back some of the previous day's losses on Tuesday, but trading volume hit its lowest in two months as many institutional buyers held back amid concerns over geopolitical risks in the Middle East and Ukraine. The benchmark Nikkei rose 0.3 percent to 14,975.97 points, after dropping 1.1 percent on Monday.

  • *Lack of finance a major hurdle for Africa's development. *World Bank leading program to promote credit bureaus. LUSAKA/ LAGOS, June 17- When Joyce Musonda wanted to start a business two years ago selling kitchen tiles from her backyard in an up-and-coming district of Zambia's capital of Lusaka, she braced herself for a battle to find a start-up loan.

  • NEW DELHI, June 17- India's oil imports from Iran rose 13.5 percent in May compared with April to about 255,200 barrels per day, tanker arrival data compiled by Reuters showed. The following table shows India's imports by country according to tanker discharge information. Volumes are in' 000 bpd.

  • NEW DELHI, June 17- India imported 13.5 percent more Iranian oil in May compared with April as the country's biggest refiner Indian Oil Corp bought crude from Tehran after a three-month break, tanker data obtained from trade sources showed.

  • --Clyde Russell is a Reuters columnist. For almost three decades after he lost to Ronald Reagan, the United States found itself consuming more imported oil, coupled with a declining trend in domestic crude and natural gas output.

  • June 17- Apple Inc reached an out-of-court settlement with U.S. states and other complainants in an e-book price-fixing class action lawsuit on Monday, effectively avoiding a trial in which the iPad maker faced more than $800 million in claims.

  • *Oil prices elevated on deepening Iraq conflict. TOKYO, June 17- Most Asian stock markets fell on Tuesday as the deepening conflict in Iraq and a gas dispute between Ukraine and Russia sapped investors' appetite for riskier assets. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.3 percent.

  • UPDATE 1-Brent holds near $113 on Iraq supply concerns Tuesday, 17 Jun 2014 | 1:48 AM ET

    *U.S. considers air strikes in Iraq. SINGAPORE, June 17- Brent crude futures held near $113 per barrel on Tuesday as concerns over oil supply persisted, with the United States considering air strikes in Iraq amid a worsening security situation in the key oil producing country.

  • *Shell to focus on Gorgon, Prelude LNG in Australia. MELBOURNE, June 17- Royal Dutch Shell launched a long-anticipated sale of most of its stake in Australia's Woodside Petroleum Ltd on Tuesday, looking to reap about $5.7 billion as it moves to focus on developing its own gas assets in Australia.

  • TOKYO, June 17- Japanese lawmakers said they will start long-awaited talks on Wednesday on a bill to legalise casino gambling, kicking off the process to create an industry that Prime Minister Shinzo Abe has called a highlight of his growth strategy.

  • UPDATE 1-Volvo to make China an export hub - executive Tuesday, 17 Jun 2014 | 1:30 AM ET

    Volvo plans to start exporting Chinese-made cars to the United States and Russia as early as late next year, said the executive who requested anonymity because he is not authorised to speak with reporters.

  • Volvo to make China an export hub - executive Tuesday, 17 Jun 2014 | 1:23 AM ET

    BEIJING, June 17- Sweden's Volvo Car Corp, with help from its Chinese owner Zhejiang Geely Holding Group Co, plans to make China an export hub and beat its 2014 sales target for the country by at least 13 percent, a senior Volvo executive said.

  • SHANGHAI, June 17- China's yuan dropped against the dollar for the second session on Tuesday, dashing hopes of those who saw a brief series of high guidance rates last week as signalling the way for a wider rally in the market, traders said.

  • VANCOUVER, June 17- Opponents of Enbridge Inc's proposed Northern Gateway crude oil pipeline are vowing to ramp up their legal challenge to the politically charged project if Canada lives up to expectations and approves its construction.

  • Arriola, 67, said a weeklong trip to the island last year had opened his eyes to what he now believes is a failed U.S. policy of trying to isolate Cuba. Tired of waiting for the end of communism in Cuba, more and more Cuban-Americans have concluded that it is time for the United States to allow more engagement with the island they left behind, polls show.