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| Asian shares edge higher, yen falls on Bank of Japan report Sunday, Feb 24, 2013 07:29 PM PST  TOKYO (Reuters) - Asian shares edged higher on Monday but prices were capped by uncertainty facing the global economy after a private survey showed Chinese manufacturing activity retreated from two-year highs this month. China's HSBC flash purchasing managers' index (PMI) for February slipped to a four-month low of 50.4 and down from January's final reading of 52.3, which had been the best performance since January 2011. But the PMI on Monday showed a fourth consecutive month of expansion, confirming that the world's No. 2 economy is recovering, albeit slowly. ... Full Story | Top |
| Grounding, budget woes cloud F-35 warplane sales push in Australia Sunday, Feb 24, 2013 07:11 PM PST  WASHINGTON/MELBOURNE (Reuters) - This year's second grounding of Lockheed Martin Corp's F-35 warplane, plus looming U.S. defense cuts, will complicate a push this week by Lockheed and U.S. officials to convince Australian lawmakers and generals to stick to a plan to buy 100 of the jets. Australia, a close American ally, is considering doubling its fleet of 24 Boeing Co F/A-18 Super Hornets amid delays and setbacks in Lockheed's $396 billion F-35 project. ... Full Story | Top |
| Yum says to step up check on suppliers after China scare Sunday, Feb 24, 2013 06:09 PM PST  BEIJING (Reuters) - Yum Brands Inc will tighten its monitoring of suppliers and improve testing of poultry as it aims to reverse a steep drop in business at its KFC restaurants in China after a chicken safety scare. In a statement ahead of a media briefing in Beijing on Monday, the company also said it would look to improve its communications with the Chinese government and people in the wake of the scare. ... Full Story | Top |
| Japan likely to nominate ADB's Kuroda as Bank of Japan head: sources Sunday, Feb 24, 2013 06:08 PM PST  TOKYO (Reuters) - Japan's government is likely to nominate Asian Development Bank President Haruhiko Kuroda, an advocate of aggressive monetary easing, as its next central bank governor, sources told Reuters on Monday. Prime Minister Shinzo Abe is also seen filling one of two deputy governor posts with Kikuo Iwata, an academic critical of Bank of Japan policy and an advocate of unorthodox monetary easing steps, the Nikkei newspaper reported. ... Full Story | Top |
| Japan opposition Democrats say Kuroda suitable as Bank of Japan chief: media Sunday, Feb 24, 2013 06:06 PM PST TOKYO (Reuters) - Japan's main opposition Democratic Party said Asian Development Bank President Haruhiko Kuroda meets its requirements to head Japan's central bank, so it would be difficult to oppose his nomination, Jiji news reported, citing a party official. Prime Minister Shinzo Abe will nominate Kuroda to be the next Bank of Japan governor, sources told Reuters. Abe needs cooperation from opposition parties to approve nominees due to a divided parliament. (Reporting by Stanley White, editing by Dean Yates) Full Story | Top |
| White House warns states of looming pain from March 1 budget cuts Sunday, Feb 24, 2013 05:59 PM PST  WASHINGTON (Reuters) - With five days left before $85 billion is slashed from government budgets, the White House issued more dire warnings about the harm the cuts will do to Americans, breaking down the loss of jobs and services to each of the states. The estimates show how many teachers could lose their jobs in each state, how many toddlers could be kicked out of subsidized preschool programs, and how many children could lose funding for vaccines for measles and mumps. ... Full Story | Top |
| Apple signals emerging-market rethink with India push Sunday, Feb 24, 2013 05:17 PM PST  NEW DELHI/BANGALORE (Reuters) - As BlackBerry launches the first smartphone from its make-or-break BB10 line in India, one of its most loyal markets, the company faces new competition from a formidable rival that has long had a minimal presence in the country. More than four years after it started selling iPhones in India, Apple Inc is now aggressively pushing the iconic device through installment payment plans that make it more affordable, a new distribution model and heavy marketing blitz. ... Full Story | Top |
| Barnes & Noble chairman may bid for company's bookstores: WSJ Sunday, Feb 24, 2013 04:34 PM PST  NEW YORK (Reuters) - Barnes & Noble Inc Chairman Leonard Riggio is considering a bid for the company's bookstore business, the Wall Street Journal reported on Sunday, citing people familiar with the situation. Riggio is the company's largest shareholder with a nearly 30 percent stake. He pioneered the book superstore format in the 1980s and 1990s. According to the Journal, Riggio would take the company's 689 retail stores private, splitting that business from its Nook e-reader and tablet business and its college store chain. Riggio's interest so far has been tentative, the report said. ... Full Story | Top |
| Southeast Asian margin squeeze snags Singapore Inc Sunday, Feb 24, 2013 04:32 PM PST  (Reuters) - The most widespread margin squeeze in at least a decade is pushing some Singapore companies out of the city state as rising costs and slow growth sap profitability. A Reuters study of 268 listed Singapore companies showed that 57 percent reported a year-on-year drop in operating profit margin for the first three quarters of 2012. That was the biggest percentage for the nine-month period on record, according to Thomson Reuters data going back to 2002. Full-year data for 2012 was not yet available. ... Full Story | Top |
| Siemens to speed up efforts to cut NSN stake: FT Sunday, Feb 24, 2013 04:18 PM PST  (Reuters) - German industrial bellwether Siemens will speed up efforts to exit or cut its 50 percent stake in its telecom equipment joint venture with Finnish phone maker Nokia , the Financial Times reported on Sunday. Siemens and Nokia will be free to take action regarding their stake in Nokia Siemens Networks (NSN) in April when a six-year shareholder agreement expires, following which Siemens would look to cut its stake in the venture to below 20 percent, the FT said, citing a person close to Siemens. ... Full Story | Top |
| Japan likely to nominate ADB's Kuroda as BOJ head: sources Sunday, Feb 24, 2013 03:32 PM PST TOKYO (Reuters) - Japan's government is likely to nominate Asian Development Bank President Haruhiko Kuroda, an advocate of aggressive monetary easing, as its next central bank governor, sources told Reuters on Monday. Prime Minister Shinzo Abe is also seen filling one of two deputy governor posts with Kikuo Iwata, an academic critical of Bank of Japan policy and an advocate of unorthodox monetary easing steps, the Nikkei newspaper reported. The yen sank 1.4 percent in early trade to 94. ... Full Story | Top |
| Markets brace for crucial Italy election test Sunday, Feb 24, 2013 03:02 PM PST  MILAN (Reuters) - Investors are awaiting the outcome a wide open Italian election that could trigger a sell-off in stocks and bonds and renew concerns about the euro if the polls bring an unstable government. Polling stations open for a second and final day on Monday and exit polls will be published soon after they close at 3 p.m. (1400 GMT). Opinion polls have suggested the center-left Democratic Party (PD) of Pierluigi Bersani could secure a narrow victory in the recession-hit country, the euro zone's third-largest economy. ... Full Story | Top |
| HP eyes tablet comeback with Android-backed Slate 7 Sunday, Feb 24, 2013 01:42 PM PST  (Reuters) - Hewlett-Packard Co announced the launch of a $169 tablet powered by the Android operating system, a centerpiece of the company's effort to expand in mobile devices and reduce its dependence on the shrinking personal computer market. The launch of the Slate 7 marks HP's latest foray into the consumer tablet market. It follows the 2011 failure of its WebOS-based TouchPad, which the company stopped selling after just seven weeks, citing poor demand. Powered by Android 4. ... Full Story | Top |
| ITV to return 200 million pounds to shareholders: report Sunday, Feb 24, 2013 01:12 PM PST (Reuters) - Media company ITV will unveil plans to return as much as 200 million pounds to shareholders through a special dividend when it reports full-year results on Wednesday, Sky News reported on Sunday. ITV's board will meet early this week to approve the proposed dividend, Sky News said on its website. (Reporting by Abhishek Takle in Bangalore; Editing by Maureen Bavdek) Full Story | Top |
| Analysis: China central bank takes lead in economic reform push Sunday, Feb 24, 2013 01:12 PM PST  BEIJING (Reuters) - China's readiness to bend retirement rules to keep arch-reformer Zhou Xiaochuan at the helm of the central bank signals clearly that new Communist Party chiefs want to speed economic reform in the country's most critical development phase in three decades. Central bank insiders interviewed by Reuters say the People's Bank of China (PBOC) is the country's most potent force for reform in the face of powerful vested interests, echoing sources with leadership ties who last week said Zhou would keep his job despite reaching the mandatory retirement age of 65. ... Full Story | Top |
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