Latest Business News Wires - Business Headlines


  • Carney effect prods sterling above $1.70 Monday, 16 Jun 2014 | 7:54 AM ET

    *Breaks above $1.70 for first time since August 2009. LONDON, June 16- Britain's pound topped $1.70 for the first time since August 2009 on Monday, adding to gains made since the head of the Bank of England surprised markets last week by hinting that interest rates could rise this year.

  • Hillshire withdraws recommendation for Pinnacle deal Monday, 16 Jun 2014 | 7:51 AM ET

    June 16- Hillshire Brands Co said it will withdraw its recommendation to its shareholders to vote for its acquisition of Pinnacle Foods Inc, following Tyson Foods Inc's to buy Hillshire. Hillshire said it does not have the right to terminate the merger agreement with Pinnacle Foods on the basis of the Tyson Foods offer.

  • *Wheat up after heavy losses in past 5 weeks. PARIS/ SINGAPORE, June 16- Chicago wheat rose more than 1 percent on Monday in a second day of gain on bargain buying after falling for the last five weeks, while soybeans recovered from last week's 2-1/ 2- month low, underpinned by tight old-crop supplies in the United States.

  • Level 3 Communications to buy tw telecom Monday, 16 Jun 2014 | 7:45 AM ET

    June 16- Telecommunications services company Level 3 Communications Inc said it would buy internet services provider tw telecom Inc for $40.86 per share in a cash and stock deal.

  • *Main European bourses 0.3-0.5 pct lower as Iraq, Ukraine tensions weigh. LONDON, June 16- Fighting in Iraq and Ukraine drove a global shift into traditional safe-haven currencies, precious metals and bonds on Monday, and kept oil near a nine-month high.

  • US STOCKS-Futures drop as Iraq turmoil continues Monday, 16 Jun 2014 | 7:40 AM ET

    *U.S. considering talks with Iran over Iraq. *Medtronic to buy Covidien for $42.9 bln. *Geopolitical tensions in Ukraine also flared as Russian natural gas exporter Gazprom reduced supplies to Ukraine on Monday after Kiev failed to meet a deadline to pay off its gas debts in a dispute that could disrupt supplies to the rest of Europe.

  • *Siemens, MHI CEOs to meet Alstom execs in Paris- sources. MUNICH/ PARIS, June 16- Germany's Siemens and Japan's Mitsubishi Heavy Industries will present a joint offer for France's Alstom in Paris on Monday, challenging a General Electric bid that sparked French government concern about retaining jobs and industry expertise.

  • *Credit Suisse, Yorkshire say compensation won't be material. LONDON, June 16- Britain's financial conduct watchdog handed out more than million-pound fines to Credit Suisse and Yorkshire Building Society for promising unrealistic returns to investors who had limited market knowledge.

  • KIEV/ GORKI, Russia, June 16- Russia cut off gas to Ukraine on Monday in a dispute over unpaid bills that could disrupt supplies to the rest of Europe and set back hopes for peace in the former Soviet republic.

  • SEOUL, June 16- Samsung Electronics Co Ltd is buying more local bonds with its $60 billion cash pile as domestic banks grow reluctant to overload on deposits from the South Korean giant.

  • *Poor rainfall, Iraq turmoil seen stoking price pressures. NEW DELHI, June 16- India's wholesale price. Modi has made controlling inflation a priority since taking office last month, but prospects of weak summer monsoon rains and turmoil in Iraq have increased the risk of rising food and fuel prices.

  • *Violence from Iraq to Kenya fuels profit taking. LONDON, June 16- European stocks slipped on Monday, adding to last week's retreat as mounting violence from Iraq to Kenya pummelled travel shares and prompted investors to cash in on recent gains.

  • LONDON, June 16- Venezuela wants to increase oil supplies to the United States to regain some of the market share it lost over the past decade as Caracas sees the U.S. boom in light oil from shale as a chance to raise heavy-crude exports, the country's oil minister said.

  • MOSCOW, June 16- Russian's Lukoil and Gazprom will set up a joint venture by the end of this year to explore a part of the Barents Sea shelf, Lukoil CEO said on Monday. Lukoil, Russia's biggest non-state oil producer, will have a 34 percent share in the venture, Vagit Alekperov told reporters on the sidelines of an energy conference in Moscow.

  • LONDON, June 16- Vodafone is buying an Italian car electronics maker for 145 million euros, seeking to get ahead in the race to connect more products to the internet and offset slowing growth in its core mobile phone business.

  • *China confident will hit growth of 7.5 pct- Premier Li. LONDON, June 16- Copper rose on Monday from last week's one month low as investors took heart from China's efforts to stem any growth slowdown.

  • NEW YORK, June 16- A new chapter in the North American oil revolution is about to open on the Texas coast, with two major pipelines poised this summer to deliver an unprecedented influx of heavy Canadian crude to U.S. refineries- and potentially beyond.

  • PARIS, June 16- Airbus Group and Safran confirmed plans on Monday to combine work on space launchers, accelerating efforts to fend off a growing threat to Europe's Ariane space rocket from U.S. low-cost rival SpaceX. Airbus and Safran shares were both up around 0.4 percent, while the CAC40 index was down 0.2 percent.

  • *European shares lower as Iraq, Ukraine tensions weigh. LONDON, June 16- Gold hit its highest in nearly three weeks on Monday, as turmoil in Iraq and Ukraine supported its safe-haven appeal relative to higher-risk assets like equities, while platinum gained ahead of the outcome of talks to end a strike in South African mines.

  • TOKYO, June 16- Mitsubishi Heavy Industries' involvement in Siemens' bid for the power assets of France's Alstom fits in with the Japanese company's plans to build a global presence after a recent major reorganization of its business.