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| U.S. apartment vacancy rate falls, rents rise Monday, Sep 30, 2013 09:09 PM PDT By Ilaina Jonas NEW YORK (Reuters) - Finding an apartment to rent got even harder in the third quarter, as the U.S. apartment vacancy rate fell to its lowest level in more than a decade, according to an industry report released on Tuesday. The national apartment vacancy rate fell 0.1 percentage point to 4.2 percent in the third quarter from the second quarter, according to a preliminary report by real estate research firm Reis Inc. It was the lowest vacancy rate since the third quarter of 2001 when it was 3.9 percent. Some 47 out of 79 markets that Reis tracks posted vacancy decreases. ... Full Story | Top |
| AT&T seeks to defend Austin, Texas, market with faster Internet Monday, Sep 30, 2013 09:08 PM PDT  NEW YORK (Reuters) - AT&T Inc plans to start speeding up its Internet service in Austin, Texas, in December, to defend itself against a planned ultra high-speed Internet and television service to be launched by Google Inc in the same city next year. Texas' capital city, with a population of 840,000, has a reputation as a high-tech industry hub. After Google said in April that it would bring a service of 1 gigabit-per-second to Austin users, AT&T followed with a promise to match the offer if it obtained the same regulatory terms granted to Google by local authorities. ... Full Story | Top |
| Giving by U.S. foundations tops $50.9 billion in 2012 Monday, Sep 30, 2013 09:02 PM PDT By Manuela Badawy NEW YORK (Reuters) - Giving in the United States by private and community foundations reached an estimated $50.9 billion in 2012, growing just ahead of inflation, a report released on Tuesday by the Foundation Center showed. The group's report was primarily focused on results of its 2011 survey of foundations but did include the limited projection for 2012. In 2011 the country's 81,777 foundations held $622 billion in assets and distributed $49 billion, just $1.9 billion below 2012's estimate, according to the Foundation Center's annual research study. ... Full Story | Top |
| Factbox: Japan to unveil $50 billion stimulus to cope with tax hike Monday, Sep 30, 2013 08:47 PM PDT (Reuters) - Japan's government is to announce an economic stimulus package on Tuesday worth $50 billion or more to cushion the economy from the blow of raising the national sales tax, a final draft of the government plan, seen by Reuters, shows. Following are some points of the program, meant to support growth in the short term while curbing Japan's huge public debt over time, which Prime Minister Shinzo Abe is to announce on Tuesday. - The government will raise the sales tax to 8 percent from 5 percent in April, the first major fiscal reform since 1997. ... Full Story | Top |
| Dollar steady ahead of U.S. government shutdown deadline Monday, Sep 30, 2013 08:36 PM PDT  By Dominic Lau TOKYO (Reuters) - The dollar held steady on Tuesday as investors waited with bated breath as a partial U.S. government shutdown appeared inevitable with less than a half-hour to go before midnight in Washington, a move which could crimp growth and dampen consumer confidence in the world's largest economy. The U.S. government was on the edge of a shutdown over Republican efforts to delay President Barack Obama's healt care program using a temporary spending bill even as efforts emerged to try to negotiate a deal. S&P stock futures inched up 0.2 percent after the cash index fell ... Full Story | Top |
| Japan business mood hits near six-year high, Abe set to raise tax Monday, Sep 30, 2013 08:33 PM PDT  By Leika Kihara TOKYO (Reuters) - Japanese manufacturers' sentiment improved sharply in the three months to September to a near six-year high, a closely-watched central bank survey showed, cementing the case for Premier Shinzo Abe to proceed with a planned sales tax hike next year. Service-sector sentiment also brightened slightly and big companies plan to increase capital spending, a sign robust personal consumption and a pickup in exports are solidifying a recovery in the world's third-largest economy. ... Full Story | Top |
| China manufacturing tepid in September, small firms struggle Monday, Sep 30, 2013 07:21 PM PDT  BEIJING (Reuters) - China's manufacturing growth edged up only slightly in September, official data showed on Tuesday, with small firms struggling in the face of overcapacity and weak demand, adding to concerns a nascent economic recovery may be foundering. The official Purchasing Managers' Index (PMI) stood at 51.1 last month from August's 51.0, below expectations in a Reuters poll for a rise to 51.5, which would have been the highest in 17 months. Chinese factories have sent mixed signals on the extent of their latest rebound. ... Full Story | Top |
| Disney, Dish extend contract while new deal talks continue Monday, Sep 30, 2013 06:59 PM PDT  (Reuters) - Walt Disney Co and satellite TV provider Dish Network Corp agreed to a short-term extension of their current distribution deal, keeping Disney-owned channels on the air while the pair seek to bridge differences over carriage terms. The companies are discussing a deal for Dish to continue carrying programming including sports network ESPN, the Disney Channel and ABC Family, according to a joint statement. They didn't say how long the contract extension would last, nor provide any other details on their discussions. ... Full Story | Top |
| Dimon, bank executives to meet Obama on Wednesday over debt ceiling: WSJ Monday, Sep 30, 2013 06:25 PM PDT  (Reuters) - JP Morgan chief executive Jamie Dimon is headed for a scheduled meeting, along with other bank executives, with President Barack Obama on Wednesday, the Wall Street Journal reported. While talking to WSJ, an industry participant said concern over the debt ceiling battle would be raised during the meeting. Speaking to WSJ, a White House official said, "The president will meet members of the Financial Services Forum at the White House while they are in town for their annual meeting." JP Morgan was not immediately available for comments. ... Full Story | Top |
| Jury set for billionaire Mark Cuban's insider trading trial Monday, Sep 30, 2013 06:17 PM PDT  By Jana J. Pruet DALLAS (Reuters) - Seven women and three men were chosen Monday as jurors in the civil trial of Mark Cuban, the billionaire owner of the Dallas Mavericks NBA basketball team, who faces charges of insider trading in shares of a little-known Internet search company. Cuban, 55, is accused of selling his 600,000 shares of the former Mamma.com Inc nearly a decade ago, on June 28 and 29, 2004, soon after learning from Chief Executive Guy Fauré that the company was planning an equity offering that could dilute his 6.3 percent stake. The U.S. ... Full Story | Top |
| Instant View: Japan third quarter big manufacturers' mood improves - BOJ tankan Monday, Sep 30, 2013 05:43 PM PDT TOKYO (Reuters) - Japanese big manufacturers' sentiment improved in the three months to September for a third straight quarter, the central bank's "tankan" survey showed, cementing the case for Prime Minister Shinzo Abe to proceed with a planned sales tax hike next year. COMMENTARY: YOSHIMASA MARUYAMA, CHIEF ECONOMIST, ITOCHU ECONOMIC RESEARCH INSTITUTE, TOKYO "Earnings recovery on the back of a weaker yen, which affected only limited sectors at the time of the previous survey, has spread to a wider part of industry. "Big manufacturers' outlook is a little bit weaker. ... Full Story | Top |
| Australia returns to challenge for America's Cup Monday, Sep 30, 2013 05:38 PM PDT By Ian Ransom MELBOURNE (Reuters) - Australian wine magnate Bob Oatley's Hamilton Island Yacht Club has been confirmed as the Challenger of Record for the 35th America's Cup, organizers said on Tuesday. Oatley and his son Sandy issued the challenge to the Golden Gate Yacht Club (GGYC) minutes after Larry Ellison's Oracle Team USA beat Team New Zealand in a winner-takes-all race on San Francisco Bay last week. "We're very proud. ... Full Story | Top |
| Sailing-Australia returns to challenge for America's Cup Monday, Sep 30, 2013 05:35 PM PDT * Golden Gate Yacht Club confirms Hamilton Island challenge * First Australian challenge since 2000 * Costs to come in focus for 35th America's Cup By Ian Ransom MELBOURNE, Oct 1 (Reuters) - Australian wine magnate Bob Oatley's Hamilton Island Yacht Club has been confirmed as the Challenger of Record for the 35th America's Cup, organisers said on Tuesday. Oatley and his son Sandy issued the challenge to the Golden Gate Yacht Club (GGYC) minutes after Larry Ellison's Oracle Team USA beat Team New Zealand in a winner-takes-all race on San Francisco Bay last week. "We're very proud. ... Full Story | Top |
| In historic step, Japan PM to hike tax; will cushion blow to economy Monday, Sep 30, 2013 05:04 PM PDT  By Shinji Kitamura and Takaya Yamaguchi TOKYO (Reuters) - Japan's Prime Minister Shinzo Abe will take a step on Tuesday that none of his predecessors has tried in more than 15 years - making a dent in the government's runaway debt. Abe, riding a wave of popularity with economic policies that have begun to stir the world's third-biggest economy out of years of lethargy, will announce that the government will raise the national sales tax to 8 percent in April from 5 percent, a final draft of the government economic plan, seen by Reuters, shows. ... Full Story | Top |
| New Zealand bails out stricken state coal miner, bank lenders hit Monday, Sep 30, 2013 04:53 PM PDT WELLINGTON (Reuters) - The New Zealand government said it will pump up to NZ$155 million ($128 million) into Solid Energy and private lenders will swap some debt for equity under a plan to save the troubled coal miner, which is slated for partial privatization. The proposed restructuring plan will see the state-owned company issue NZ$100 million of redeemable preference shares, with key lenders exchanging NZ$75 million of debt for equity and the government injecting NZ$25 million. ... Full Story | Top |
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