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| BOJ maintains stimulus, keeps economic view intact Wednesday, Aug 07, 2013 09:10 PM PDT  By Leika Kihara TOKYO (Reuters) - The Bank of Japan kept monetary policy steady and held off on revising up its assessment of the economy on Thursday, opting to wait for more clues on whether the increasingly positive mood will encourage companies to ramp up spending. Bank lending rose nearly 2 percent in July from a year earlier, the biggest increase in four years, BOJ data showed earlier in the day, boding well for the central bank's efforts to boost lending with its aggressive monetary stimulus. ... Full Story | Top |
| Fonterra CEO says sees no drop in orders after food safety scare Wednesday, Aug 07, 2013 09:04 PM PDT  WELLINGTON (Reuters) - Fonterra CEO Theo Spierings on Thursday said that he had not seen a reduction in the dairy exporter's customers since it was found to have produced contaminated dairy ingredients, while acknowledging the risk that its bottom line may take a hit in the future. "The answer to that question is no," he said in response to a reporter's query at a news conference regarding whether the company has seen a reduction in orders since the announcement that Fonterra had discovered it had exported tainted whey protein powder nearly a week ago. ... Full Story | Top |
| Investor group sues California city over eminent domain loan plan Wednesday, Aug 07, 2013 08:38 PM PDT  (Reuters) - An investor group filed a federal lawsuit against Richmond, California, to prevent the city from using eminent domain to seize mortgages of local residents who owe more than their properties are worth in a bid to keep them in their homes. The lawsuit was filed on Wednesday in a northern California court by mortgage bond trustees Wells Fargo and Deutsche Bank on behalf of an investor group that includes Pacific Investment Management Co, or PIMCO, BlackRock Inc and DoubleLine Capital LP. ... Full Story | Top |
| Fast Retailing signs Europe-led Bangladesh fire and safety accord Wednesday, Aug 07, 2013 07:49 PM PDT  TOKYO (Reuters) - Fast Retailing Co Ltd , Asia's biggest retailer and operator of the Uniqlo clothing chain, said on Thursday it had signed a Europe-led safety pact for Bangladesh garment factories after a building collapse in April killed more than 1,100 people. A spokesman for the Japanese firm said the company had taken several months to join the accord - already signed by European clothing companies H&M and Zara operator Inditex SA - because it wanted to thoroughly consider the pact's conditions. ... Full Story | Top |
| Agrium profit hit by cold North American spring Wednesday, Aug 07, 2013 07:21 PM PDT (Reuters) - Canadian fertilizer company Agrium Inc reported a fall in quarterly profit due to an unusually cold spring in North America, but said it expected strong demand for crop inputs for the rest of the year. Unseasonably cool weather in the U.S. Midwest this spring compressed the usual time period for farmers to apply fertilizer to their fields. "We expect solid demand for crop inputs in the second half of 2013 given positive grower sentiment, strong nutrient removal this year and the affordability of crop nutrients," chief executive Mike Wilson said in a statement. ... Full Story | Top |
| Hilton selects banks to lead initial public offering: sources Wednesday, Aug 07, 2013 07:03 PM PDT  By Greg Roumeliotis and Ilaina Jonas NEW YORK (Reuters) - Blackstone Group LP has selected banks to lead an initial public offering of Hilton Worldwide Inc as it prepares to bring one of the largest leveraged buyouts back to the stock market, three people familiar with the matter said on Wednesday. The IPO of the hotel operator is expected to come in the first half of 2014, two of the people said. Hilton has selected Deutsche Bank AG, Goldman Sachs Group Inc, Bank of America Corp and Morgan Stanley to lead the deal, the three sources told Reuters. ... Full Story | Top |
| Japan says PM Abe will set up panel on sales tax hike Wednesday, Aug 07, 2013 06:50 PM PDT  TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe will set up a panel to study the impact of a planned sales tax hike on the economy, the government's top spokesman said on Thursday. The panel would be formed by Deputy Prime Minister Taro Aso, Economy Minister Akira Amari, Bank of Japan Governor Haruhiko Kuroda and other officials who would assess the state of the economy by consulting experts and business leaders, Chief Cabinet Secretary Yoshihide Suga told reporters at a regular press conference. ... Full Story | Top |
| U.S. military satellite, paid for by Australia, launched into orbit Wednesday, Aug 07, 2013 06:13 PM PDT  By Irene Klotz CAPE CANAVERAL, Florida (Reuters) - An unmanned Delta 4 rocket blasted off from Cape Canaveral Air Force Station in Florida on Wednesday carrying a communications satellite for the U.S. military and its partners, including Australia, which paid for the spacecraft and launch services. The Delta rocket, topped with the sixth Wideband Global Satcom, or WGS, spacecraft lifted off at 8:29 p.m. EDT and soared out over the Atlantic Ocean, illuminated by the setting sun, as it headed into space. ... Full Story | Top |
| Asian stocks still in the doldrums; China data looms Wednesday, Aug 07, 2013 06:03 PM PDT  By Ian Chua SYDNEY (Reuters) - Asian stocks found a tentative footing early on Thursday, having suffered their biggest one-day slide in a month, though investors were nervous ahead of a slew of Chinese data as a troubling slowdown in the world's second-largest economy has rattled global markets recently. The lackluster start in the region came on the back of a third day of losses on Wall Street as uncertainty over when the Federal Reserve will begin to wind down its stimulus kept buyers at bay. ... Full Story | Top |
| JPMorgan faces criminal and civil probes over mortgages Wednesday, Aug 07, 2013 05:40 PM PDT  By David Henry (Reuters) - JPMorgan Chase & Co, the biggest U.S. bank by assets, said on Wednesday that it faces a criminal probe by the U.S. Department of Justice over sales of mortgage-backed securities and that civil investigators have already concluded it violated securities laws. In a quarterly filing with the Securities and Exchange Commission, JPMorgan said it is responding to "parallel investigations" being conducted by the civil and criminal divisions of the United States Attorney's Office for the Eastern District of California over mortgage-backed securities. ... Full Story | Top |
| Groupon names Lefkofsky CEO; revenue exceeds estimates Wednesday, Aug 07, 2013 05:20 PM PDT  By Gerry Shih SAN FRANCISCO (Reuters) - Groupon Inc named co-founder Eric Lefkofsky its chief executive and reported a record quarter for its North American business, signaling growing momentum in its comeback effort, and its shares rose almost 20 percent. The company, which also announced a $300 million share repurchase program on Wednesday, reported a better-than-expected 7 percent jump in second-quarter revenue to $608.7 million, as sales in the United States and Canada climbed 45 percent. ... Full Story | Top |
| Fox Sports Secures Rights to First Golf Major -- The U.S. Open Wednesday, Aug 07, 2013 05:16 PM PDT By Lucas Shaw NEW YORK (TheWrap.com) - Fox Sports has secured the broadcast rights to the U.S. Open, bringing one of golf's four major tournaments to its new sports network Fox Sports 1, Fox announced on Wednesday. This is the first time Fox has held the rights to one of golf's majors - a group that also includes the Masters, the British Open and the PGA Championship. The rights are part of a larger deal with the United States Golf Association that brings the U.S. Women's Open and Senior Open to Fox networks as well. The deal will begin in 2015. Financial terms were not disclosed. ... Full Story | Top |
| London Metal Exchange eyes three CEO candidates: Bloomberg Wednesday, Aug 07, 2013 05:07 PM PDT (Reuters) - The London Metal Exchange is considering three candidates to succeed Chief Executive Martin Abbott who is set to step down at the end of the year, Bloomberg reported, citing two people familiar with the matter. The LME, the world's biggest marketplace for industrial metals such as copper and aluminum, is choosing between its chief operating officer, Diarmuid O'Hegarty, and a former CEO of NYSE Liffe, Garry Jones, Bloomberg said, unable to verify the third candidate. The 137-year-old institution, which was bought last year for $2. ... Full Story | Top |
| Publishers object to U.S. restrictions on Apple in e-books case Wednesday, Aug 07, 2013 04:39 PM PDT  By Nate Raymond (Reuters) - Five of the largest U.S. publishers objected to tough new restrictions sought by the U.S. government against Apple Inc for illegally conspiring to raise e-book prices. In a motion filed on Wednesday in U.S. district court in Manhattan, the publishers said a proposed final order in the case would effectively prevent Apple from entering agreements that limit its ability to discount books. The publishers said provisions proposed by the U.S. ... Full Story | Top |
| Exclusive: TPG explores $3 billion sale of specialty drugmaker Aptalis Wednesday, Aug 07, 2013 04:38 PM PDT By Jessica Toonkel and Soyoung Kim NEW YORK (Reuters) - TPG Capital LP has been exploring a sale of Aptalis Pharma, a specialty drugmaker it has owned since 2008 and values at more than $3 billion, four people familiar with the matter said on Wednesday. The private equity firm has been working with JPMorgan Chase & Co and Evercore Partners Inc to find a buyer for the Montreal-based drugmaker in a sale process that has been under way for several months, said the sources, who asked not to be named because the matter is confidential. ... Full Story | Top |
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