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| Microsoft to acquire Nokia's handset business for $7.2 billion Monday, Sep 02, 2013 09:12 PM PDT  HELSINKI (Reuters) - Microsoft Corp on Tuesday said it would buy Nokia's mobile phone business for 5.44 billion euros ($7.2 billion), and the Finnish firm said its CEO, Stephen Elop, would join Microsoft when the transaction closed. Finland's Nokia, once the undisputed leader in mobile phones, has been struggling to respond to the challenge from smartphone makers such as Apple and Samsung. Analysts say Elop's bold bet in 2011 to adopt Microsoft's untested Windows Phone software has yet to pay off. ... Full Story | Top |
| CBS win squeezes Time Warner Cable's margins: analysts Monday, Sep 02, 2013 09:11 PM PDT  By Ronald Grover and Liana B. Baker (Reuters) - CBS Corp won large increases in the fees it will receive from Time Warner Cable Inc in its agreement with the cable operator that ended a month-long blackout of CBS, Showtime and other channels in key cities, analysts said. CBS was asking for as much as $2 a month in "retransmission fees" to allow Time Warner to carry the CBS network and other channels for each of its 3.2 million cable subscribers in the affected areas. ... Full Story | Top |
| Nokia CEO Elop to move to Microsoft, chairman to take over Monday, Sep 02, 2013 09:00 PM PDT  HELSINKI (Reuters) - Nokia said its chief executive, Stephen Elop, will move to Microsoft Corp when the deal to acquire Nokia's handset business is closed. Nokia board chairman Risto Siilasmaa will take over CEO duties while the Finnish firm is looking for a new CEO. Elop was hired as Nokia CEO in 2010 from Microsoft. (Reporting by Terhi Kinnunen; Editing by Matt Driskill) Full Story | Top |
| China services sector grows steadily as government measures kick in Monday, Sep 02, 2013 08:40 PM PDT  By Langi Chiang and Jonathan Standing BEIJING (Reuters) - China's services sector grew steadily in August as domestic demand picked up, official data showed on Tuesday, adding to signs that government measures have started to steer the world's second-largest economy out of its longest slowdown. The non-manufacturing purchasing managers' index (PMI) dipped slightly to 53.9 last month from July's 54.1 to be at the same level as in June, the National Bureau of Statistics said. A reading above 50 indicates activity in the sector is accelerating, while one below 50 points to a slowdown. ... Full Story | Top |
| Asia markets lifted by upbeat data; yen eases Monday, Sep 02, 2013 08:34 PM PDT  By Lisa Twaronite and Wayne Cole TOKYO/SYDNEY (Reuters) - Upbeat factory data from around the globe powered Asian markets on Tuesday, while gold and the yen lost some of their safe-haven appeal as the U.S. delayed a possible strike on Syria. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.7 percent, building on Monday's 1.2 percent rise and on track for a fourth day of gains. Japan's Nikkei stock average surged 2.5 percent, and the Korea Composite Stock Price Index (KOSPI) rose 0.6 percent. Gold eased about 0.2 percent to $1,392. ... Full Story | Top |
| Citigroup sheds more than $6 billion in PE, hedge fund assets: WSJ Monday, Sep 02, 2013 08:32 PM PDT  (Reuters) - Citigroup Inc has sold more than $6 billion in private equity and hedge fund assets in the past month to comply with new regulations that limit such investments, the Wall Street Journal reported, citing people familiar with the transactions. Citigroup last week sold a $4.3 billion private equity fund known as Citi Venture Capital International for an undisclosed price to Rohatyn Group, a private equity fund run by Nick Rohatyn, people told the Journal. On August 9, Citi sold a $1.9 billion emerging markets hedge fund to the fund's managers, the people said. ... Full Story | Top |
| Complaints against UK banks rise by 15 percent - Ombudsman Monday, Sep 02, 2013 08:31 PM PDT  By Matt Scuffham LONDON (Reuters) - The number of complaints against British banks grew by 15 percent in the first half of 2013 driven by complaints over the mis-selling of loan insurance, the Financial Ombudsman Service said on Wednesday. The ombudsman, which deals with cases in which banks and their customers cannot settle a dispute, said it received 327,000 complaints during the period. Complaints about payment protection insurance (PPI) rose by a quarter to 266,000. ... Full Story | Top |
| Expert networks: thriving in Asia, away from U.S. scrutiny Monday, Sep 02, 2013 07:44 PM PDT  By Rachel Armstrong and Nishant Kumar SINGAPORE/HONG KONG (Reuters) - Expert networks - a matchmaking service linking investors such as hedge funds with company insiders - are under scrutiny from regulators in the United States, but are expanding across Asia, where the market for corporate intelligence is less transparent. The U.S. ... Full Story | Top |
| Verizon markets $61 billion bridge loan for Vodafone deal: sources Monday, Sep 02, 2013 07:23 PM PDT  By Michelle Sierra NEW YORK (Reuters) - Verizon Communications Inc has started syndicating the $61 billion bridge loan backing its $130 billion buyout of Vodafone Group's stake in its U.S. wireless business, banking sources said, adding that some of the loan may actually be drawn upon due to its huge size. The 364-day billion bridge loan will be refinanced with a permanent capital structure consisting of $49 billion of corporate bonds and $14 billion of loans, sources told Thomson Reuters. The loans will include a $2 billion revolving credit and $12 billion of term loans. ... Full Story | Top |
| Record-breaking San Francisco Bay bridge to open after delays Monday, Sep 02, 2013 06:56 PM PDT By Laila Kearney SAN FRANCISCO (Reuters) - The largest self-anchored suspension bridge in the world will open before Tuesday morning's rush hour across San Francisco Bay, six years behind schedule and five times over budget. The new $6 billion eastern section of the San Francisco-Oakland Bay Bridge, one of the busiest spans in the United States, is expected to be open on Tuesday for 280,000 daily commuters. The Bay Area Toll Authority said the bridge could open as soon as Monday night. ... Full Story | Top |
| Rodman returns to Pyongyang but says won't bring back jailed American Monday, Sep 02, 2013 06:08 PM PDT  By James Pearson SINGAPORE (Reuters) - Flamboyant former basketball star Dennis Rodman will arrive in Pyongyang on Tuesday for a five-day visit to North Korea, his second this year, but said he had no plans to negotiate the release of a jailed American missionary. There had been speculation that Rodman, who met North Korean leader Kim Jong-un in March, would secure the release of Kenneth Bae who was jailed for 15 years for trying to overthrow the North Korean government. "I'm not going to North Korea to discuss freeing Kenneth Bae," Rodman told Reuters in a telephone interview. ... Full Story | Top |
| Olympics-IOC top job up for grabs as VP Bach eyes win Monday, Sep 02, 2013 06:00 PM PDT (repeating story first moved on Aug 31) By Karolos Grohmann Sept 3 (Reuters) - The departure of International Olympic Committee president Jacques Rogge after 12 years with his sure hand on the tiller marks the end of an era for the global sports organisation, and sees six candidates vying to replace him on Sept. 10. ... Full Story | Top |
| Wrestling eyes quickfire return to the 2020 Games mat Monday, Sep 02, 2013 06:00 PM PDT (repeating story first moved on Aug 31) By Karolos Grohmann Sept 3 (Reuters) - From an ignominious Olympic exit to a Games return in less than eight months, wrestling can complete a remarkable turnaround when the International Olympic Committee votes in one new sport for the 2020 Games. Wrestling was surprisingly taken off the 2020 Olympics by the IOC Executive Board in a February vote as the IOC looked to refresh its sports programme. ... Full Story | Top |
| Olympics-Istanbul clings to bid hopes as blows rain down Monday, Sep 02, 2013 06:00 PM PDT (repeating story first moved on Aug 31) * Massive infrastructure investment underpins Istanbul's bid * Anti-government protests, doping shake confidence * Middle East turmoil overshadows mood By Daren Butler ISTANBUL, Sept 3 (Reuters) - Along the picturesque Bosphorus Straits dividing Europe and Asia, Istanbul is undergoing a transformation which should fill Turkey with confidence in its bid to become the first Muslim country to stage the Olympics in 2020. ... Full Story | Top |
| Olympics-Once-reluctant Japanese get behind Tokyo's bid Monday, Sep 02, 2013 05:59 PM PDT (repeating story first moved on Aug 31) By Elaine Lies TOKYO, Sept 3 (Reuters) - Tokyo knows better than most how an Olympic Games can rebrand a city. It did it once already at the 1964 Games, shaking off a war-ravaged reputation and showing a modern face to the world. Fifty years later, Japan's capital now wants to show that it is back, showcasing a new energy and dynamism after two lost decades, by hosting the 2020 Games. ... Full Story | Top |
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