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| Asian shares retreat after China PMI, U.S. payrolls eyed Thursday, Jan 31, 2013 08:10 PM PST  TOKYO (Reuters) - Asian shares wiped earlier gains on Friday as a tepid Chinese manufacturing report dented sentiment, leaving investors on tenterhooks ahead of U.S. nonfarm payroll data due at 1330 GMT. China's official purchasing managers' index (PMI) eased to 50.4 in January, the National Bureau of Statistics said on Friday, missing market expectations for a rise and underscoring the fragility of the recovery from the economy's weakest year since 1999. ... Full Story | Top |
| Sharp to post Q3 profit, on course to clear earnings hurdle: sources Thursday, Jan 31, 2013 08:09 PM PST  TOKYO (Reuters) - Sharp Corp is set to rebound to a quarterly profit, sources familiar with the matter said on Friday, improving the bailed-out consumer electronics maker's chances of convincing lenders and shareholders that it is a viable company. Sharp, which is due to report its results later in the day, made a third-quarter operating profit of 2 billion to 3 billion yen ($22 million to $33 million), the sources said, compared with market forecasts for a small loss. Sharp spokeswoman Miyuki Nakayama declined to comment. ... Full Story | Top |
| Airbus says it has a "Plan B" for A350 jet batteries Thursday, Jan 31, 2013 07:16 PM PST  TOULOUSE, France (Reuters) - Airbus has studied alternatives to lithium-ion batteries for its next jet, the A350, and has time to adapt to any rule changes prompted by the problems that have grounded Boeing Co's 787 Dreamliner, its top executive said. Airbus plans to use lithium-ion batteries on the A350, similar to the technology incorporated in Boeing's 787 airliners, and so far has stood by the modern power packs. "We studied the integration of these batteries on the A350 very carefully," Airbus Chief Executive Fabrice Bregier told a group of French aerospace journalists on Thursday. ... Full Story | Top |
| Audio company Audience sees fast growth, even with less Apple Thursday, Jan 31, 2013 07:13 PM PST SAN FRANCISCO (Reuters) - Audience Inc seems to be doing pretty well, even with less of Apple: the audio technology company forecast quarterly revenue well above Wall Street's expectations, helped by more business from Samsung and other smartphone makers. Shares of Audience jumped 24 percent in after hours trading, after the company said Thursday that it expected revenue between $43 million and $46 million in the March quarter, versus analysts' average estimate of $31.8 million, according to Thomson Reuters I/B/E/S. ... Full Story | Top |
| Boeing engineers' union puts strike authorization on ballot Thursday, Jan 31, 2013 06:01 PM PST NEW YORK (Reuters) - Union leaders representing about 23,000 Boeing Co engineers voted on Thursday to put a strike authorization question on a ballot that will go to members next week. Strike authorization by members of the Society of Professional Engineering Employees in Aerospace (SPEEA) does not by itself declare a strike, but it would give union negotiating teams power to call one at any time. An engineers' strike could cripple production of all Boeing airplanes and would complicate a wide-ranging review of the 787 Dreamliner by the Federal Aviation Administration. ... Full Story | Top |
| Japan to send two officials to U.S. for Boeing battery probe Thursday, Jan 31, 2013 06:01 PM PST TOKYO (Reuters) - Japan's Civil Aviation Bureau said on Friday it would send two investigators to Seattle as part of the probe of the battery problem on Boeing's 787 Dreamliner. The global fleet of 50 Dreamliners, 17 of which are operated by Japan's All Nippon Airways , has remained grounded while investigators in Japan and the United States attempt to find out what caused one battery to catch fire on a 787 operated by Japan Airlines Co in Boston earlier this month, and a second battery to burn on ANA's domestic flight. (Reporting by James Topham; Editing by Shinichi Saoshiro) Full Story | Top |
| UK cost agency rejects drugs from AstraZeneca, Bristol and Roche Thursday, Jan 31, 2013 05:59 PM PST  LONDON (Reuters) - Britain's healthcare cost watchdog NICE said on Friday it was not able to recommend a new diabetes drug from Bristol-Myers Squibb and AstraZeneca, and has asked for more information from the companies. The National Institute for Health and Clinical Excellence (NICE) has been considering Forxiga, or dapagliflozin, as an add-on therapy for use with other medicines, including insulin. NICE, which decides if drugs should be paid for on the state health service, also said it had issued draft guidance not recommending Roche's Avastin for ovarian cancer. ... Full Story | Top |
| Peregrine Financial regulators lacked skepticism: study Thursday, Jan 31, 2013 05:50 PM PST SAN FRANCISCO (Reuters) - Regulators of Peregrine Financial, whose former CEO on Thursday was sentenced to 50 years for stealing $215 million from his customers, lacked the skepticism needed to assess the risk of fraud at the now-defunct futures brokerage, a study showed. ... Full Story | Top |
| United Continental fails to end frequent flier lawsuit Thursday, Jan 31, 2013 04:49 PM PST (Reuters) - A federal judge on Thursday rejected United Continental Holdings Inc's attempt to throw out a lawsuit accusing the world's largest carrier of taking benefits away from some of its most loyal fliers. The lawsuit filed last May by Chicago resident and United customer George Lagen accused the carrier formed from the 2010 merger of United Airlines and Continental Airlines of reducing perks for MileagePlus customers with "Million Miler" status. ... Full Story | Top |
| Exclusive: Hospital chain defies NLRB rulings after court decision Thursday, Jan 31, 2013 04:23 PM PST (Reuters) - A California-based hospital company says it will not comply with at least two National Labor Relations Board rulings from the past year after a federal court invalidated three of President Barack Obama's recess appointments to the NLRB last week. ... Full Story | Top |
| S&P 500 posts biggest monthly gain since October 2011 Thursday, Jan 31, 2013 04:13 PM PST  NEW YORK (Reuters) - Stocks edged lower on Thursday on caution ahead of Friday's all-important jobs report, but the S&P 500 still posted its best monthly gain since October 2011. The benchmark S&P 500 advanced 5.1 percent in January as investors cheered a compromise that temporarily postponed the impact of the "fiscal cliff" and fourth-quarter earnings were better than expected. The S&P 500 registered its largest monthly advance since a rise of more than 6 percent in October 2011 and the best January showing since a 6.1 percent jump in 1997. For the month, the Dow gained 5. ... Full Story | Top |
| Informant in Galleon insider-trading case gets a year in prison Thursday, Jan 31, 2013 04:08 PM PST  NEW YORK (Reuters) - Roomy Khan, a one-time technology company executive who became a key FBI informant in the insider-trading case against hedge-fund manager Raj Rajaratnam, was sentenced to 12 months in prison on Thursday. Her defense lawyer had sought five years of probation for Khan, 54, who pleaded guilty in 2009 to securities fraud, obstruction of justice and conspiracy. U.S. District Judge Jed Rakoff in Manhattan also ordered her to forfeit nearly $1.53 million. "As I reflect back, I am horrified by the choices I made," Khan said. ... Full Story | Top |
| Analysis: Rate pressures on pensions wipe out billions in profits Thursday, Jan 31, 2013 03:58 PM PST  (Reuters) - Pension charges wiped out more than $20 billion in fourth-quarter earnings at major American companies, as persistently low interest rates leave some of those with the largest retiree burdens no choice but to assume they need more money now to cover liabilities later. Actuaries warn there is little chance for improvement on the horizon for defined benefit pension programs, as rates linger at historically low levels and the Federal Reserve shows no inclination to raise them. The only hope, they say, is for rates to turn around - though when, no one really knows. ... Full Story | Top |
| Lockheed F-35 program head to retire Thursday, Jan 31, 2013 03:55 PM PST WASHINGTON (Reuters) - Tom Burbage, a former Navy fighter pilot who ran Lockheed Martin Corp's F-35 Joint Strike Fighter program for 13 years, plans to retire at the end of March, Lockheed said on Thursday. "After 32 years of working with Lockheed Martin and legacy divisions, Tom Burbage has decided to retire. His impact to the F-35 Program and other areas of aeronautics is immeasurable," said Lockheed spokeswoman Laura Siebert. ... Full Story | Top |
| Exclusive: Ocwen leads in deal to buy Ally mortgage rights - sources Thursday, Jan 31, 2013 03:33 PM PST  NEW YORK (Reuters) - Ocwen Financial Corp is in the lead to buy a portfolio of mortgage collection rights from Ally Bank worth around $1 billion, three people familiar with the situation said on Thursday. The deal will help Ally, the bailed-out auto lender that is 74 percent owned by the U.S. government, raise money to pay back taxpayers. For Ocwen, the purchase will further fuel its explosive growth. The company's servicing portfolio has increased in size by more than six times since 2009, according to Compass Point Research & Trading. ... Full Story | Top |
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