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| Fonterra CEO: All contaminated dairy stocks contained Tuesday, Aug 06, 2013 08:55 PM PDT  WELLINGTON (Reuters) - Fonterra CEO Theo Spierings said on Wednesday that all stocks of contaminated dairy products made and exported by the company had been taken out of the market, and there was little or no risk to consumers. After visiting China earlier this week, Spierings said the situation there had stabilized. "I said at a press conference in China that I would not leave before the situation was stable from the perspective of markets, consumers, customers and global authorities," he told reporters at the company's headquarters in Auckland. ... Full Story | Top |
| Singapore drops contempt charges against cartoonist in return for apology Tuesday, Aug 06, 2013 08:54 PM PDT SINGAPORE (Reuters) - Singapore has dropped charges against a political cartoonist in return for an apology for publishing comic strips deemed to be in contempt of court, an offence that could have landed him in jail. Chew Peng Ee, known to followers of his "Demon-cratic Singapore" site on Facebook as Leslie Chew, had committed contempt "by scandalizing the judiciary of the Republic of Singapore", the Attorney-General's Chambers said last month. ... Full Story | Top |
| SEC not to move against hedge fund Magnetar over mortgages: WSJ Tuesday, Aug 06, 2013 08:50 PM PDT (Reuters) - The U.S. securities regulator has decided not to file civil charges against hedge fund firm Magnetar Capital LLC over its role in helping create mortgage securities that lost value during the financial crisis, the Wall Street Journal reported. For more than a year, enforcement officials of the Securities and Exchange Commission (SEC) have been investigating whether Magnetar violated federal law over the selection of assets bundled in a collateralized debt obligation (CDO) called Norma CDO I that was created by Merrill Lynch & Co, now a unit of Bank of America Corp, the paper said. ... Full Story | Top |
| Falcone's Harbinger sues Dish Network's Ergen over LightSquared Tuesday, Aug 06, 2013 08:39 PM PDT  By Billy Cheung (Reuters) - Phil Falcone's hedge fund sued satellite TV mogul Charlie Ergen and his Dish Network Corp for $4 billion on Tuesday for an alleged loan-trading scheme aimed at stripping Falcone of his control over LightSquared Inc, a bankrupt wireless communications business. The lawsuit in the U.S. Bankruptcy Court in Manhattan was filed on Tuesday at the same time as Ergen was confirming on an earnings call with Dish investors that the company was interested in acquiring LightSquared. ... Full Story | Top |
| Glencore, JPM sued in U.S. as warehousing legal battle ramps up Tuesday, Aug 06, 2013 08:25 PM PDT  By Melanie Burton SINGAPORE (Reuters) - Glencore Xstrata and JPMorgan Chase & Co face a U.S. lawsuit, along with the London Metal Exchange, alleging they artificially inflated aluminum prices, in the second legal challenge related to metal warehousing in a week. The suit, which also names Goldman Sachs and subsidiaries of both Goldman and JP Morgan, accuses the firms of engaging in anti-trust and racketeering practices. ... Full Story | Top |
| Nikkei leads Asian stocks lower; dollar dips Tuesday, Aug 06, 2013 08:22 PM PDT  By Ian Chua SYDNEY (Reuters) - Asian stocks fell to their lowest in a month on Wednesday following a second day of losses on Wall Street, led by a steep decline in the Nikkei as a firmer yen took a toll on Japanese exporters. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 percent to its lowest since July 11, and Tokyo's Nikkei slid to a one-week trough as the dollar slumped to a six-week low against the yen. Exporters such as Toyota Corp lost ground on concerns the stronger yen would erode their dollar earnings when repatriated. The Nikkei skidded as much as 2. ... Full Story | Top |
| Wal-Mart weighs bid for Li's Hong Kong supermarket chain: sources Tuesday, Aug 06, 2013 08:20 PM PDT  HONG KONG (Reuters) - Wal-Mart Stores Inc is considering making a bid for the Hong Kong supermarket business being sold by a company controlled by Asia's richest man Li Ka-shing, people familiar with the matter told Reuters. Li's Hutchison Whampoa Ltd conglomerate has set an August 16 deadline for initial bids for ParknShop, which it values at as much as $4 billion, sparking interest from corporate and private equity buyers. Wal-Mart, the world's largest retailer, is working with a bank as it weighs its options for ParknShop ahead of next week's preliminary bid deadline, the people added. ... Full Story | Top |
| China fines six companies for price fixing: Xinhua Tuesday, Aug 06, 2013 08:15 PM PDT BEIJING (Reuters) - China's economic planner hit six companies with a total of 670 million yuan ($109.5 million) in fines for price fixing, state media said on Wednesday. Biostime, Mead Johnson, Dumex, Abbott, Friesland and Fonterra, were all fined by the National Development and Reform Commission (NDRC), the official Xinhua news agency said. It did not say what products the fines covered. Three companies -- Wyeth, Beingmate and Meiji -- were exempted from punishment for cooperating with the investigation, Xinhua said. ... Full Story | Top |
| NZ frets about reputation after dairy scare but auction reassuring Tuesday, Aug 06, 2013 07:41 PM PDT  By Naomi Tajitsu WELLINGTON (Reuters) - New Zealand said on Wednesday its reputation as an exporter of safe dairy food remained at risk after a contamination scare, although an auction of Fonterra dairy products provided reassurance that global customers were continuing to buy its goods. Fonterra has come under fire from the New Zealand government, farmers and financial regulators for dragging its feet in saying it sold whey protein products that contained a bacteria which can cause botulism - a potentially fatal food poisoning. ... Full Story | Top |
| CBS chief dismisses Time Warner Cable offer as empty PR Tuesday, Aug 06, 2013 07:14 PM PDT  By Liana B. Baker (Reuters) - CBS Corp on Tuesday rejected the latest proposal by Time Warner Cable Inc to end its blackout of the TV network in major cities in a dispute over fees and dismissed it as a "public relations gesture." Even though both sides urged a return to the negotiating table after weeks of discussions, talks seemed to have broken down, affecting more than 3 million Time Warner Cable customers in New York, Los Angeles, Dallas and other cities. ... Full Story | Top |
| Disney projects up to $190 million 'Lone Ranger' loss Tuesday, Aug 06, 2013 07:04 PM PDT  By Lisa Richwine LOS ANGELES (Reuters) - Walt Disney Co expects to lose between $160 million and $190 million on its expensive summer movie bomb "The Lone Ranger," the media giant said on Tuesday as it reported a small gain in quarterly profit that beat Wall Street forecasts. The loss for "The Lone Ranger," a Western starring Johnny Depp, will be recorded for the quarter that ends in September, Chief Financial Officer Jay Rasulo said on a conference call with analysts. Disney shares dropped 1.9 percent in after-hours trading to $65.79 from a $67.05 close on the New York Stock Exchange. ... Full Story | Top |
| U.S. military judge trims potential sentence in WikiLeaks case Tuesday, Aug 06, 2013 06:53 PM PDT  By Tom Ramstack FORT MEADE, Maryland (Reuters) - The military judge who last week convicted soldier Bradley Manning of committing the biggest breach of classified data in U.S. history through WikiLeaks on Tuesday trimmed the maximum prison sentence the private first class could face. ... Full Story | Top |
| Tribal activists block Idaho highway over tar sands 'megaload' Tuesday, Aug 06, 2013 06:31 PM PDT By Laura Zuckerman SALMON, Idaho (Reuters) - Police arrested 19 members of the Nez Perce Tribe on Tuesday on suspicion of disorderly conduct for refusing to break a human chain blocking a highway in Idaho in protest against a 322-ton load of equipment bound for the tar sands of Alberta, Canada. The blockade by more than 250 mostly Native American protesters halted travel of a so-called megaload for two hours on a scenic roadway at the front lines of an ideological struggle over North American oil and gas development and its impact on the environment, local communities and native cultures. ... Full Story | Top |
| Sweden's Artemis loses to Italy in America's Cup debut Tuesday, Aug 06, 2013 05:00 PM PDT By Ronnie Cohen SAN FRANCISCO (Reuters) - Artemis Racing, the grief-stricken Swedish team vying for the America's Cup sailing trophy, lost its first race to Italy's Luna Rossa on Tuesday on San Francisco Bay, but won the contest for hearts and minds. Luna Rossa sailed its 72-foot catamaran with duct tape holding together its main sail after a pre-race mishap, but still finished nearly two minutes ahead of Artemis. It was nonetheless still something of a victory for Artemis, which suffered a fatal training accident in May and whose participation in the event was in doubt until recently. ... Full Story | Top |
| Sailing-Sweden's Artemis loses to Italy in America's Cup debut Tuesday, Aug 06, 2013 04:58 PM PDT * Artemis happy to get racing * Luna Rossa tear sail before start, still win By Ronnie Cohen SAN FRANCISCO, Aug 6 (Reuters) - Artemis Racing, the grief-stricken Swedish team vying for the America's Cup sailing trophy, lost its first race to Italy's Luna Rossa on Tuesday on San Francisco Bay, but won the contest for hearts and minds. Luna Rossa sailed its 72-foot catamaran with duct tape holding together its main sail after a pre-race mishap, but still finished nearly two minutes ahead of Artemis. ... Full Story | Top |
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