| | |
| CA-BUSINESS Summary Sunday, May 26, 2013 08:59 PM PDT Asian stocks still shaky as Nikkei slides 3 percent SYDNEY/SINGAPORE (Reuters) - Japan's Nikkei index slid more than three percent on Monday, extending last week's severe volatility and causing investors to worry that a bout of profit-taking had turned into lasting doubt about the growth and riskiness of markets. Last week's shakeout of equity, bond and currency markets was triggered by doubts over how much weakness in the yen Japanese policymakers would tolerate, concerns the U.S. Federal Reserve would reduce monetary stimulus soon, and weakness in Chinese manufacturing data. ... Full Story | Top |
| Asian stocks still shaky as Nikkei slides 3 percent Sunday, May 26, 2013 08:59 PM PDT  By Ian Chua and Vidya Ranganathan SYDNEY/SINGAPORE (Reuters) - Japan's Nikkei index slid more than three percent on Monday, extending last week's severe volatility and causing investors to worry that a bout of profit-taking had turned into lasting doubt about the growth and riskiness of markets. Last week's shakeout of equity, bond and currency markets was triggered by doubts over how much weakness in the yen Japanese policymakers would tolerate, concerns the U.S. Federal Reserve would reduce monetary stimulus soon, and weakness in Chinese manufacturing data. But U.S. ... Full Story | Top |
| China profit growth quickens, no harbinger of recovery Sunday, May 26, 2013 07:53 PM PDT  BEIJING (Reuters) - China's industrial profits growth quickened in April from the previous month, though the government noted that the pickup was due mainly to a low comparative base, indicating that the world's second largest economy still faces slack domestic and external demand. Chinese firms made profits of 436.7 billion yuan ($71.22 billion) in April, up 9.3 percent from the same month last year, quickening from a year-on-year growth of 5.3 percent in March, the National Bureau of Statistics said on Monday. ... Full Story | Top |
| Economic reality finally cracks market fervor Sunday, May 26, 2013 07:33 PM PDT  By Andy Bruce LONDON (Reuters) - As evidence mounts that a mid-year slowdown is taking place in the world economy, the next few days will offer a clearer glimpse of how that will impinge on policymaking and buoyant financial markets. Global stocks stumbled last Thursday in one of the few times the grey economic reality cut through this year's reverie in financial markets. And that could mark the start of a trend, after Federal Reserve Chairman Ben Bernanke last week hinted the U.S. central bank could soon scale back its monthly bond purchases that have flooded stock markets with new cash. ... Full Story | Top |
| Europe investigates Apple's iPhone tactics: FT Sunday, May 26, 2013 07:20 PM PDT  (Reuters) - The European Commission is investigating whether Apple Inc is using anti-competitive iPhone sales tactics and technical restrictions to squeeze out rival smartphone makers from the European market, according to documents seen by the Financial Times. According to a questionnaire sent last week to several European mobile network operators, the Commission is focusing on distribution terms that might favour Apple by ensuring no rival can secure a better sales deal, said the newspaper. Apple said its contracts comply with EU laws, said the FT. ... Full Story | Top |
| Bank of Japan's April 26 meeting saw rift over ambitious price goal Sunday, May 26, 2013 06:16 PM PDT  By Leika Kihara TOKYO (Reuters) - The minutes of the Bank of Japan's April 26 meeting showed a rift developing within the board over its ambitious stimulus plan, as a few policymakers opposed targeting 2 percent inflation in two years and called for more flexibility in guiding monetary policy. The board also engaged in considerable debate over the bond market volatility after the BOJ's monetary easing on April 4, a sign the members were uneasy about the rise in borrowing costs that could undermine the central bank's ultra-loose policy. ... Full Story | Top |
| Ford's profits will accelerate as Europe improves: Barron's Sunday, May 26, 2013 05:13 PM PDT  NEW YORK (Reuters) - Shares of Ford Motor Co have surged nearly 40 percent over the past year, but the company isn't yet firing on all cylinders, said Barron's in its May 27 edition. Last quarter, Ford's pretax profit in North America reached the highest level in a decade, but losses in Europe widened. The good news is that demand in Europe appears close to bottoming out, and may have done so already, Barron's said. As the continent becomes less of a drag, the stock could climb another 50 percent over the next two years, Barron's said. Ford shares finished at $14. ... Full Story | Top |
| Trimble banks on high-tech farming: Barron's Sunday, May 26, 2013 05:03 PM PDT (Reuters) - Trimble Navigation Ltd is moving into new markets like railroads, water management, and electric utilities to improve productivity and cut costs with its positioning technology, Barron's said in its May 27 edition. Trimble, which makes equipment for surveying, mapping, and marine navigation, also relies on acquisitions, having bought over 70 companies since 2000. Going forward, Trimble CEO Steven Berglund wants to "help customers connect the dots," Barron's said. The company is already collecting data about harvests and crop yields that can be used to guide future plantings. ... Full Story | Top |
| Hertz stock could rise 70 percent in two years: Barron's Sunday, May 26, 2013 04:37 PM PDT  (Reuters) - Car rental company Hertz Global Holdings Inc is poised for a long run of earnings and revenue growth and the stock could be worth 70 percent more in two years, the Barron's financial news weekly said in its May 27 edition. The car rental industry, tied closely to airline traffic and hotel bookings, is seeing strong volumes, helped by a recovery in business travel in the United States. Hertz, which primarily serves corporate customers, is also benefiting from the acquisition of Dollar Thrifty, a big player in the leisure and lower-priced rental market. Hertz, No. ... Full Story | Top |
| Electric car venture Better Place files to liquidate Sunday, May 26, 2013 04:07 PM PDT  By Ari Rabinovitch JERUSALEM (Reuters) - Electric car company Better Place said on Sunday it had filed a motion in an Israeli court to wind up the company, bringing an end to a venture whose battery charging network had aimed to boost electric car sales. Better Place partnered with Renault in 2008 to create an electric car system combining charging terminals with battery swap stations to increase the range of electric cars and put an end to drivers' worries about running out of power. It had raised more than $850 million from top-tier investors and two years ago said it was valued at $2. ... Full Story | Top |
| Tata's Mistry man: tightening belts as more frugal era begins Sunday, May 26, 2013 02:10 PM PDT  By Henry Foy MUMBAI (Reuters) - As Ratan Tata strode the halls of the Geneva Motor Show in March, joking with journalists and chatting with auto industry leaders, his successor at the helm of India's biggest business group stood silently on the sidelines. Shunning the spotlight since taking charge of the $100 billion Tata group in December, 44-year-old Cyrus Mistry has focused on belt-tightening at a conglomerate left bloated by explosive growth under his predecessor. "Ratan was much more ... strategic, more over-arching. 's much more focused. ... Full Story | Top |
| RBS board has held CEO successor talks: report Sunday, May 26, 2013 01:34 PM PDT  LONDON (Reuters) - Directors of Royal Bank of Scotland have held recent talks on identifying a replacement for its chief executive Stephen Hester, Sky News said on Sunday citing sources. Sky News said Philip Hampton, Chairman of the state-backed lender, called a meeting of the bank's non-executive directors earlier this month to inform them he was drawing up a list of potential replacements for Hester, including Standard Chartered finance director Richard Meddings. RBS declined to comment when contacted by Reuters. ... Full Story | Top |
| Merkel, Li call for end to EU-China solar trade row Sunday, May 26, 2013 11:21 AM PDT  By Erik Kirschbaum BERLIN (Reuters) - German Chancellor Angela Merkel and Chinese Premier Li Keqiang on Sunday called for an end to a trade row between Europe and China over solar panels and wireless equipment, telling a joint news conference they were both for free trade. The European Union accuses China of pricing its solar panels and mobile telecom devices too cheaply and "dumping" them in Europe to corner the market. It plans to impose duties on Chinese panel makers. China denies the allegations. ... Full Story | Top |
| China PM says stable euro in best interests of China and world Sunday, May 26, 2013 11:13 AM PDT  BERLIN (Reuters) - China's Premier Li Keqiang said on Sunday a stable euro was in the best interests of China and the whole world. Speaking at a news conference in Berlin with Chancellor Angela Merkel, Li said China has offered its help throughout the euro zone crisis. "We've stood by Europe and we hope that the European Union can overcome these momentary difficulties," he said. "We hope the euro zone can remain stable. I've said before that China is ready to offer its assistance. It's mutually beneficial. If Europe prospers, it's good for Europe (and) also for China's development. ... Full Story | Top |
| Kion, Shandong Heavy get 500 million euro to enhance cooperation Sunday, May 26, 2013 10:40 AM PDT FRANKFURT (Reuters) - Germany's Kion Group , the world's second biggest maker of fork lift trucks, and shareholder Shandong Heavy are getting as much as 500 million euros ($647 million) in financing from the China Development Bank to support their cooperation, Kion said. The two companies will also be receiving unspecified financial services from the bank as part of an agreement signed on Sunday at a meeting between Chinese Premier Li Keqiang and German Chancellor Angela Merkel, Kion said. "The three parties agreed that Weichai Power and Kion will intensify their cooperation ... ... Full Story | Top |
|
No comments:
Post a Comment