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| Asia's export engine stuck in neutral despite U.S. uptick Monday, Oct 28, 2013 08:31 PM PDT  By Wayne Arnold and Tetsushi Kajimoto HONG KONG (Reuters) - Asia's once-reliable export engine remains stalled two years into a global economic recovery, raising concerns about the region's competitiveness and its ability to motor through the next tough time for emerging markets. Exports from seven of East Asia's biggest exporters - Japan, China, South Korea, Taiwan, Thailand, Hong Kong and Singapore - grew by just 0.8 percent in the third quarter, according to a Reuters analysis of national trade data, led by a 3.1 percent gain in exports to the U.S. from the same three months of 2012. ... Full Story | Top |
| Cameron to announce Islamic index on LSE Monday, Oct 28, 2013 07:09 PM PDT  By Shadi Bushra LONDON (Reuters) - The London Stock Exchange will launch an index to identify investment opportunities compliant with Islamic principles, aiming to capitalise on strong growth in the sector, Britain's Prime Minister David Cameron will tell a conference. The planned Islamic Market Index will identify companies that meet traditional Islamic investment principles and help London cement its position as the biggest centre for Islamic finance outside the Islamic world, Cameron will tell the World Islamic Economic Forum in London on Tuesday. ... Full Story | Top |
| MPs to question energy bosses over big price rises Monday, Oct 28, 2013 07:08 PM PDT  By William James and Sarah Young LONDON (Reuters) - The chiefs of six companies accused of abusing their grip on Britain's energy market will be questioned by MPs on Tuesday over escalating home electricity and gas prices in a dispute that could affect the next general election. The issue of soaring energy bills has jumped to the top of the political agenda in Britain since opposition Labour leader Ed Miliband promised to freeze energy bills for 20 months if his party wins the 2015 vote. ... Full Story | Top |
| Microsoft shareholders advised to vote against director Thompson Monday, Oct 28, 2013 06:55 PM PDT  By Bill Rigby SEATTLE (Reuters) - Proxy advisory firm Glass Lewis has recommended that Microsoft Corp shareholders vote against the re-election of lead independent director John Thompson, who is in charge of the company's efforts to find a new chief executive. In a note circulated to its clients on Monday, Glass Lewis expressed concerns about a possible conflict of interests for Thompson in his role as CEO of Virtual Instruments, a cloud-computing firm that sells licenses and devices to Microsoft. ... Full Story | Top |
| 'Abenomics' helped counteract Asia capital outflows: IMF Monday, Oct 28, 2013 06:35 PM PDT  TOKYO (Reuters) - An increase in Japanese foreign direct investment and bank lending to Asia has helped counteract capital outflows triggered by expectations that the U.S. Federal Reserve will soon taper its asset-buying program, the International Monetary Fund's top official for Asia said on Tuesday. ... Full Story | Top |
| Mexico lawmakers firm on mining royalty plan: Canada mining lobby Monday, Oct 28, 2013 06:34 PM PDT  By David Alire Garcia MEXICO CITY (Reuters) - Canada's top mining lobby said on Monday that Mexican lawmakers remain "firm" on approving a system of mining royalty payments, despite the industry's best efforts to lower a levy that companies say will deter investment. Mexico's lower house of Congress approved the new 7.5 percent mining royalty on earnings before interest, taxes, depreciation and amortization earlier this month as part of a plan to bolster the country's feeble tax haul. The Senate must vote on the wider bill by the end of this week. ... Full Story | Top |
| Singer Chris Brown pleads not guilty to assault that broke man's nose Monday, Oct 28, 2013 06:05 PM PDT  (Note: Strong language in the eighth paragraph) By Ian Simpson WASHINGTON (Reuters) - R&B singer Chris Brown pleaded not guilty on Monday to misdemeanor assault after a fight that broke a man's nose on Sunday outside a Washington hotel, the latest legal run-in for the Grammy-winner. After spending the night in jail, Brown left the courthouse in a crush of security and press as fans crying "Chris, Chris" tried to rush the artist. He faces a maximum of six months in jail and a $1,000 fine if convicted. ... Full Story | Top |
| Mexico forces kill two suspects in state energy firm attacks Monday, Oct 28, 2013 05:54 PM PDT  By Lizbeth Diaz MEXICO CITY (Reuters) - Mexican security forces killed two people believed to be involved in a string of attacks on electrical installations at the weekend and captured three more, the government said on Monday. An unspecified number of substations and gas stations were attacked and damaged early on Sunday in the troubled western state of Michoacan in an attack that temporarily knocked out power for hundreds of thousands of people. ... Full Story | Top |
| Apple's results disappoint ahead of holiday quarter Monday, Oct 28, 2013 05:17 PM PDT  By Bill Rigby (Reuters) - Apple Inc's profit and margins slid despite selling 33.8 million iPhones in its September quarter, and greater China revenue climbed just 6 percent even though two smartphone models hit store shelves in its second-largest market last month. The unremarkable quarterly numbers prompted some disappointed investors to cash in recent gains in the stock, which slid 5 percent at one stage after-hours on Monday. ... Full Story | Top |
| Investment banking slowdown to hit European lenders Monday, Oct 28, 2013 05:04 PM PDT  By Matt Scuffham and Steve Slater LONDON (Reuters) - Grim investment bank revenues, a mixed economic backdrop and increasing regulatory and legal concerns are set to weigh on results from three of Europe's biggest banks on Tuesday. But Britain's biggest domestic lender Lloyds Banking Group will buck the trend by reporting a sharp rise in third-quarter profit, benefiting from the improving health of the UK economy. ... Full Story | Top |
| Iran outlines plan to win back Western oil interest: FT report Monday, Oct 28, 2013 04:39 PM PDT  (Reuters) - Iran is planning to offer international companies more lucrative contracts to attract at least $100 billion worth of investment in its oilfields over the next three years, the Financial Times reported on Monday. An adviser to Iran's oil minister, Mehdi Hosseini, was quoted in the Financial Times article as saying the Islamic republic would scrap its current system of "buyback" contracts, which do not allow foreign companies to book reserves or take equity stakes in Iranian projects. ... Full Story | Top |
| U.S. judge orders TV pitchman Trudeau released from jail Monday, Oct 28, 2013 04:37 PM PDT By David Bailey (Reuters) - A U.S. judge on Monday ordered infomercial pitchman Kevin Trudeau released from a downtown Chicago jail where he had been held six days for failing to pay a nearly $38 million judgment over false promises he made in a weight-loss book. Trudeau, 50, was ordered jailed by Judge Robert Gettleman last week for failing to make full disclosure of assets owned or controlled by him that could be used to pay the judgment from a civil case brought by the Federal Trade Commission. ... Full Story | Top |
| U.S. copper fabricator ends fight against JPM, BlackRock funds Monday, Oct 28, 2013 04:29 PM PDT  By Josephine Mason NEW YORK (Reuters) - U.S. copper fabricator Southwire Co dropped its legal fight against physical copper funds planned by Wall Street banks, as political and regulatory scrutiny make it unlikely the exchange-traded funds will ever be launched, according to a court filing on Monday. Southwire filed the lawsuit eight months ago after JPMorgan Chase & Co and BlackRock Inc got approval from the U.S. Securities and Exchange Commission for the first U.S. funds that would use copper as collateral against shares. ... Full Story | Top |
| Hawaiian Airlines expects revenue growth from hotel, car rental bookings Monday, Oct 28, 2013 04:03 PM PDT By Alwyn Scott NEW YORK (Reuters) - Hawaiian Airlines expects to double its revenue from selling hotel rooms and rental cars over the next few years, part of a wide-ranging strategy to lift its top line even as it scales back capacity growth, a senior executive said on Monday. The Honolulu-based carrier says broadening the range of products customers can book on its website is already generating significant revenue, and it expects the amount to double in the next three to four years. ... Full Story | Top |
| Instant View: Apple's quarterly sales fail to excite investors Monday, Oct 28, 2013 03:59 PM PDT SAN FRANCISCO (Reuters) - Apple Inc's quarterly revenue barely beat Wall Street's heightened expectations after it sold a solid 33.8 million iPhones in the September quarter, but gross margins and profit slid, disappointing some investors. Shares in the company were down more than 2 percent after hours. Commentary: SHANNON CROSS, CROSS RESEARCH "They guided for a solid quarter and it came in a little bit above where they guided. The upside looks like more aggressive share-repurchase and better iPhone numbers than people were expecting. ... Full Story | Top |
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