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| Employment, home prices improve for major U.S. metros: Brookings Wednesday, Mar 27, 2013 09:09 PM PDT  WASHINGTON (Reuters) - Employment improved and housing prices rose in most major U.S. metropolitan areas in the final quarter of 2012, but output sputtered, according to a report released on Thursday by the Brookings Institution. The study found that among the 100 largest areas, 78 posted job gains during the fourth quarter, while job growth rates accelerated in 57 metropolitan areas. Still, employment levels returned to where they were before the 2007-2009 recession in only 14 metropolitan areas. Six of those areas were in Texas: Austin, Dallas, El Paso, Houston, McAllen and San Antonio. ... Full Story | Top |
| CA-BUSINESS Summary Wednesday, Mar 27, 2013 09:01 PM PDT TSX dips as euro zone worries weigh on banks; golds rise TORONTO (Reuters) - Canada's main stock index was little changed on Wednesday, with declines in bank stocks partly offset by a jump in gold miners, as weak economic data from the euro zone and worries about the Cyprus bailout dragged on investor sentiment. Gold-mining stocks benefited from a jump in the price of bullion, whose appeal as a safe haven tends to increase on negative economic news. ... Full Story | Top |
| Shell faces new probe over Alaska drill program Wednesday, Mar 27, 2013 09:00 PM PDT  By Yereth Rosen ANCHORAGE, Alaska (Reuters) - A fourth government probe is under way into Royal Dutch Shell's mishap-prone 2012 Alaska drilling season, this time for possible violations of international marine environmental rules, a U.S. Coast Guard official said on Wednesday. The Coast Guard has asked federal prosecutors to consider taking action on possible violations of the International Convention for the Prevention of Pollution from Ships (MARPOL) committed in the operations of Shell's Kulluk drillship, said Rear Admiral Thomas Ostebo, head of the Coast Guard in Alaska. ... Full Story | Top |
| Canada's Suncor says "negligible" impact from waste water spill Wednesday, Mar 27, 2013 08:07 PM PDT  (Reuters) - The spillage of industrial waste water at Suncor Energy Inc's main oil sands project had a limited impact on the local river, Canada's No. 1 oil producer said. Waste water from Suncor's oil sands operation north of Fort McMurray, Alberta, escaped on Monday morning when a pipe broke after freezing. The Athabasca River is the main source of drinking water for aboriginal and other communities downstream and has been the subject of several controversial reports on its water quality. ... Full Story | Top |
| JP Morgan names Guyett, Priestley as new regional CEOs in Asia Wednesday, Mar 27, 2013 07:48 PM PDT  (Reuters) - JP Morgan Chase & Co has named Greg Guyett and Rob Priestley as its new chief executives for the Greater China and ASEAN regions, respectively, according to an internal memo obtained by Reuters on Thursday. These appointments follow a global restructuring of JP Morgan that began last summer, which saw the firm combine its corporate and investment banking operations into a single unit. ... Full Story | Top |
| Exclusive: Clearwire expected to tap Sprint financing for April Wednesday, Mar 27, 2013 07:12 PM PDT  By Nadia Damouni and Sinead Carew NEW YORK (Reuters) - Clearwire Corp plans to notify Sprint Nextel Corp on Thursday that it will tap another $80 million of financing in April as part of its deal with the No. 3 U.S. wireless carrier, two people close to the matter said. In December, Sprint offered $2.97 per share to buy the rest of Clearwire that it does not own, and provided the wireless broadband operator up to $800 million in financing that it could draw on in installments of $80 million over 10 months. ... Full Story | Top |
| Macquarie expands in UK power sector Wednesday, Mar 27, 2013 06:30 PM PDT  By Cezary Podkul NEW YORK (Reuters) - Macquarie Bank is expanding its power trading business in the UK, hiring traders from rival banks and sourcing electricity from newly acquired power plants in hopes of becoming a bigger player in the sector. The Australian banking group has hired six traders and acquired two power station management agreements in the UK in recent months as part of the expansion, Nicholas O'Kane, global head of Macquarie's Energy Markets Division, said in an interview. ... Full Story | Top |
| Fisker puts U.S. workforce on furlough this week Wednesday, Mar 27, 2013 06:22 PM PDT  By Deepa Seetharaman DETROIT (Reuters) - Fisker Automotive, which has not made a vehicle since July, placed its U.S. workforce on furlough this week as part of its effort to keep costs low while it continues to search for a strategic partner, the U.S. automaker said on Wednesday. "This is a common practice, particularly in the automotive industry, to manage costs and operations based on current activity levels and commercial requirements," Fisker, which has just over 200 U.S. employees, said in a statement. ... Full Story | Top |
| Portugal government says no risk Cyprus deal can be template Wednesday, Mar 27, 2013 06:19 PM PDT LISBON (Reuters) - The Portuguese government ruled out any chance of a tax on bank deposits under a bailout for Cyprus being used as a template for other euro zone states, and said its own depositors remain confident in Portuguese banks. "The Cyprus case in unique. There is no risk whatsoever, and this has been said by more than one European official, no risk that this solution may be generalized," Luis Marques Guedes, state secretary for cabinet matters, told reporters after a weekly cabinet meeting on Wednesday. ... Full Story | Top |
| Tensions in Cyprus over bailout underscore pitfalls ahead Wednesday, Mar 27, 2013 06:19 PM PDT By Michele Kambas and Laura Noonan NICOSIA (Reuters) - The ink is barely dry on a deal struck in Brussels to save Cyprus from bankruptcy, but rising tension between the island's conservative president and the Communist-appointed governor of the central bank foreshadow difficulties ahead. Thinly veiled disdain for governor Panicos Demetriades expressed by officials close to President Nicos Anastasiades has reinforced the perception of a Cypriot leadership reeling under the backlash against an unpopular, last-minute accord hammered out in fraught negotiations in Brussels. ... Full Story | Top |
| Cyprus to cap cash withdrawals, scrutinise transactions Wednesday, Mar 27, 2013 06:19 PM PDT NICOSIA (Reuters) - Cyprus will limit the use of cheques to businesses, cap cash withdrawals to 300 euros per day and scrutinise all commercial transactions over 5,000 euros when banks reopen on Thursday, a Central Bank official said. Yiangos Demetriou, head of internal audit at the Central Bank, said the controls would allow unlimited use of credit cards within Cyprus, but set a limit of 5,000 euros ($6,400) per month abroad. He said the measures would remain in place for four days, contradicting an earlier report by the Athens newspaper Kathimerini that the controls would last seven days. ... Full Story | Top |
| Cypriot banks to reopen at 6:00 a.m. EDT on Thursday: central bank Wednesday, Mar 27, 2013 06:19 PM PDT NICOSIA (Reuters) - Banks in Cyprus will reopen at midday (6:00 a.m. EDT) on Thursday, a spokeswoman for the island's Central Bank said, 10 days after they closed their doors to avert a run on deposits. The spokeswoman said banks would open their doors between midday and 6 p.m. (1600 GMT). The Cypriot authorities are expected later on Wednesday to detail the capital controls they plan to impose to prevent a flight of funds. (Reporting by Michele Kambas; Writing by Matt Robinson; Editing by Giles Elgood) Full Story | Top |
| Cyprus reopens banks, under strict restrictions Wednesday, Mar 27, 2013 06:19 PM PDT  By Karolina Tagaris and Michele Kambas NICOSIA (Reuters) - Cypriots are expected to descend in their thousands on Thursday on banks, which reopen with tight controls imposed on transactions to prevent fleeing depositors from cleaning out the vaults in a catastrophic bank run. The east Mediterranean island fears a stampede at banks almost two weeks after they were shut by the government as it negotiated a 10 billion euro ($12.78 billion) bailout package with the European Union to escape financial meltdown. ... Full Story | Top |
| Banks seek to expand presence in Canada, Flaherty says Wednesday, Mar 27, 2013 05:48 PM PDT OTTAWA (Reuters) - Banks are lining up to expand their presence in Canada, and the government welcomes this as a way of fostering competition, Canadian Finance Minister Jim Flaherty said on Wednesday. "Banks that have already established themselves in Canada as something less than the chartered bank level seek to move up the chain," Flaherty told reporters in Ottawa by telephone from Thailand, where he is promoting Canadian financial institutions. "We are interested in expanding the availability of bank products in Canada, and there are a number of pending applications. ... Full Story | Top |
| Ruling on Stockton bankruptcy eligibility likely Monday Wednesday, Mar 27, 2013 05:45 PM PDT By Jim Christie SACRAMENTO, California (Reuters) - A verbal ruling on whether Stockton, California, is eligible for bankruptcy protection will likely come next Monday, a federal judge said on the third and final day of a trial that the U.S. municipal debt market is closely watching. U.S. ... Full Story | Top |
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