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| New York Times says targeted by China hackers after Wen report Wednesday, Jan 30, 2013 08:07 PM PST BEIJING (Reuters) - The New York Times said on Thursday that Chinese hackers had "persistently" attacked its computers over the past four months since the paper published a story on Premier Wen Jiabao, but sensitive material related to the report was not accessed. The New York Times said the attacks coincided with its report last October that Wen's family had accumulated at least $2.7 billion in "hidden riches". China said at the time the report smeared its name and had ulterior motives. ... Full Story | Top |
| Prominent New York prosecutor enters private practice Wednesday, Jan 30, 2013 08:06 PM PST (Reuters) - Reed Brodsky, the former prosecutor who led the insider trading prosecution of former Goldman Sachs director Rajat Gupta, is leaving the Manhattan U.S. Attorney's office to join law firm Gibson, Dunn & Crutcher as a partner in New York, according to two sources with direct knowledge of the move. Brodsky, who is expected to specialize in white collar defense and general litigation at the Los Angeles law firm, also helped convict the hedge fund titan Raj Rajaratnam on insider trading charges in 2011. ... Full Story | Top |
| Hanlong's $1.4 billion takeover of Sundance faces new delay Wednesday, Jan 30, 2013 07:42 PM PST MELBOURNE (Reuters) - China's Hanlong Group has left Sundance Resources Ltd shareholders in suspense again over whether it will be able to fund its $1.4 billion takeover of the Australian company, with signs that it will not meet a key deadline on Thursday. Sundance, targeted for its $4.7 billion Mbalam iron ore project in Africa on the border between Cameroon and the Republic of Congo, late on Wednesday indefinitely postponed a shareholder vote that had been set for Friday on the long-delayed deal. ... Full Story | Top |
| Asian shares off highs, Fed's stance underpins markets Wednesday, Jan 30, 2013 07:36 PM PST  TOKYO (Reuters) - Asian shares took a breather from recent rallies on Thursday though sentiment was underpinned by the U.S. Federal Reserve's pledge to retain its stimulus policy and on signs of stabilization in the euro zone. Positive economic reports from Asia failed to lift markets as investors continued to assess regional earnings results and ahead of key data such as China's official manufacturing PMI and U.S. monthly nonfarm payrolls on Friday. The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.4 percent after rising 1. ... Full Story | Top |
| Apollo, Metropoulos submit $410 million offer for Hostess Twinkies Wednesday, Jan 30, 2013 07:03 PM PST (Reuters) - Hostess Brands Inc said private equity firms Apollo Global Management LLC and C. Dean Metropoulos & Co have set a baseline offer of $410 million to buy the company's snack cake brands including Hostess Twinkies and Dolly Madison. The so-called stalking horse bid by the private equity firms, working together to buy the 82-year-old baker, would serve as the minimum offer for the business, which could still be topped by others. Apollo and Metropoulos have agreed to purchase the brands, five bakeries and certain equipment. ... Full Story | Top |
| Vince Cable sees merit in growth target for BoE Wednesday, Jan 30, 2013 06:45 PM PST  LONDON (Reuters) - Business minister Vince Cable said on Wednesday he could see some merit in incorporating growth into the Bank of England's objectives, adding his voice to an emerging debate over the bank's mandate. "I think the argument for having growth as part of the objectives seems eminently sensible and I think it is important we have a debate on how best that should be done," Cable said in remarks at a think tank event in London. ... Full Story | Top |
| Chesapeake faces enduring entanglements with departing CEO Wednesday, Jan 30, 2013 05:21 PM PST  (Reuters) - Aubrey McClendon will no longer be running Chesapeake Energy Corp come April 1. But he is likely to remain deeply entangled with the company he founded 24 years ago. America's second-largest natural-gas producer said on Tuesday that McClendon is stepping down as chief executive and a board member. He is leaving behind legal predicaments and intertwined personal and corporate interests that analysts say could linger for years. Among the trickiest to unwind is his signature perk. McClendon controls interests of up to 2. ... Full Story | Top |
| Facebook's mobile ad revenue doubles in fourth quarter Wednesday, Jan 30, 2013 05:19 PM PST  SAN FRANCISCO (Reuters) - Facebook Inc doubled its mobile advertising revenue in the fourth quarter, a sign that the No.1 social network is seeing early success in expanding onto handheld devices as more of its users migrate to smartphones and tablets. Investors want to see evidence that CEO Mark Zuckerberg's 8-year-old company is delivering on promises to develop a full-fledged mobile advertising business, a challenge facing many of today's technology leaders including Google Inc. But the growth trailed some of Wall Street's most aggressive estimates. ... Full Story | Top |
| Exclusive: Time Warner kicks off possible sale of NY headquarters Wednesday, Jan 30, 2013 05:17 PM PST  NEW YORK (Reuters) - Time Warner Inc is considering selling its New York headquarters and has asked real estate brokers to evaluate the building's value, in a move that could see it relinquish one of the last vestiges of its disastrous merger with America Online, two sources said. One source said on Wednesday that the company could still hang on to its portion of the Time Warner Center, a complex that Chief Executive Jeff Bewkes once called an "indulgence." The industry sources did not want to be named because they were not authorized to discuss the matter. ... Full Story | Top |
| Exclusive: Quintiles picks MS, Barclays, JPM for IPO - sources Wednesday, Jan 30, 2013 04:36 PM PST NEW YORK (Reuters) - Quintiles Transnational Corp, the largest provider of testing services to drugmakers, has chosen Morgan Stanley , Barclays Plc and JPMorgan Chase & Co as joint bookrunners for a planned initial public offering, people familiar with the matter said on Wednesday. Quintiles, owned by private equity investors that include Bain Capital LLC and TPG Capital LP, held "bake-off" talks with investment banks to appoint bookrunners for an IPO, Reuters reported last week. ... Full Story | Top |
| Boeing forecast assumes little impact from 787 problems Wednesday, Jan 30, 2013 03:38 PM PST  NEW YORK (Reuters) - Boeing Co stood by the troubled lithium-ion battery technology that this month grounded its new, high-tech 787 Dreamliner and said on Wednesday that the grounding had no significant impact on its 2013 financial forecast. It's "business as usual," CEO Jim McNerney said as the Chicago company posted market-beating profits for the fourth quarter. ... Full Story | Top |
| Facebook CEO plans to grow headcount in 2013 Wednesday, Jan 30, 2013 03:11 PM PST SAN FRANCISCO (Reuters) - Facebook Inc CEO Mark Zuckerberg said the company expects to grow its headcount in 2013 as it invests in new products. Zuckerberg said the world's No.1 social network will be focused on building the business for the long-term and will not be operating to maximize profit in 2013. (Reporting By Alexei Oreskovic) Full Story | Top |
| Fed keeps stimulus in place as U.S. economy "paused" Wednesday, Jan 30, 2013 02:35 PM PST  WASHINGTON (Reuters) - The Federal Reserve on Wednesday left in place its monthly $85 billion bond-buying stimulus plan, arguing the support was needed to lower unemployment even as it indicated a recent stall in U.S. economic growth was likely temporary. The U.S. central bank predicted that the nation's job market would continue to improve at a modest pace, and repeated a pledge to keep purchasing securities until the outlook for employment "improves substantially. ... Full Story | Top |
| GDP unexpectedly shrinks, decline seen temporary Wednesday, Jan 30, 2013 02:34 PM PST  WASHINGTON (Reuters) - The economy unexpectedly contracted in the fourth quarter, but analysts said there was no reason for panic given that consumer spending and business investment picked up. Gross domestic product fell at a 0.1 percent annual rate, its weakest performance since the economy emerged from recession in 2009, the Commerce Department said on Wednesday. If it were not for the hit from slower inventory growth and the deepest plunge in defense spending in 40 years, the economy would have grown at a respectable 2.5 percent rate. ... Full Story | Top |
| AMR CEO Horton's fate in balance as US Airways merger nears Wednesday, Jan 30, 2013 02:28 PM PST  NEW YORK (Reuters) - As US Airways Group Inc and American Airlines parent AMR Corp hammer out the final details of a merger, one of the most thorny issues has been whether AMR Chief Executive Tom Horton stays or goes. After rebuffing an aggressive takeover push from smaller rival US Airways early in its bankruptcy, AMR of late has embraced a deal, but is now eyeing a high-level position for Horton in the merged airline, according to several people familiar with the matter. ... Full Story | Top |
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