UPDATE 2-Switzerland buries U.S. tax law banks seen at risk

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 12:19pm EDT * Lower house sinks the bill by again refusing to debate * Swiss government fears U.S. indictment of banks * Banking lobby urges government to help banks reach deals * Opinion divided over threat to banks By Ruben Sprich BERNE, June 19 (Reuters) - Swiss lawmakers dealt a death blow on Wednesday to a draft law which aimed to protect the country's banks from ...

AIRSHOW-Skys the limit for civil drones

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 12:18pm EDT * New civil applications for drones emerging * Customers range from oil companies to photographers * Wider usage will require changes to regulation By Maria Sheahan PARIS, June 19 (Reuters) - From their roots in spying and stealth military attacks, unmanned planes are spreading into the civilian sphere and could soon be put to work in tasks as diverse as inspecting ...

EU Parliament in push to limit U.S. data access

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 12:13pm EDT * Leading lawmakers want judge to oversee data transfers * A national supervisor should also have a say * Majority of Yahoo! and Google users based outside U.S. By Claire Davenport BRUSSELS, June 19 (Reuters) - European Union lawmakers want to forbid the United States from accessing European citizens' data without the approval of a judge or equivalent authority, ...

TREASURIES-Bond prices fall before Fed announcement

Reuters - Wednesday 19th June, 2013

* Fed meeting in focus for signs of reduced bond purchases * Bond volatility picks up before Fed announcement * Low inflation, exit risks seen complicating Fed decision * Trader says Fed may cut purchases as Treasury cuts supply By Karen Brettell NEW YORK, June 19 (Reuters) - U.S. Treasuries prices fell on Wednesday as investors awaited the Federal Reserve's announcement at the end of its ...

Swiss parliament rejects U.S. tax deal

Reuters - Wednesday 19th June, 2013

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Syrians turn to dollar as local currency tumbles

Reuters - Wednesday 19th June, 2013

AMMAN (Reuters) - Since the latest nosedive in the Syrian currency, Damascus shopkeeper Aboud Katebee can no longer put price stickers on the imported chocolate bars he sells in the middle class Jaramana ...

ALI eyes offering of P21B in long-term retail bonds

Inquirer Business - Wednesday 19th June, 2013

MANILA, Philippines--Property giant Ayala Land Inc. plans to offer as much as P21 billion in long-term domestic retail bonds, raising fresh funds for "general corporate purposes," the company said. In a disclosure to the Philippine Stock Exchange on Wednesday, ALI said its board had approved the issuance of such corporate bonds which would be registered with the Securities and ...

NFP lone issuer to tap US markets before Fed

Reuters - Wednesday 19th June, 2013

By Rachelle Kakouris Wed Jun 19, 2013 11:53am EDT NEW YORK, June 19 (IFR) - National Financial Partners Corp was the only issuer to brave the US funding markets Wednesday, testing the waters while other issuers stayed on the sidelines ahead of the highly anticipated Federal Reserve statement later in the day. NFP, a wealth management advisory firm, downsized its deal to USD300m from an initial ...

Riverstone raises $7.7 billion for energy fund

Reuters - Wednesday 19th June, 2013

NEW YORK, June 19 | Wed Jun 19, 2013 11:35am EDT NEW YORK, June 19 (Reuters) - Riverstone Holdings LLC has secured $7.7 billion from investors for its latest fund, the first the energy-focused private equity firm has raised since ending a collaboration with peer Carlyle Group LP. Riverstone said the fund, called Riverstone Global Energy and Power Fund V, will focus on building energy ...

REFILE-UPDATE 1-U.S. fines ABN AMRO unit $1 million for violations

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 11:35am EDT By Douwe Miedema WASHINGTON, June 19 (Reuters) - The top U.S. derivatives regulator fined ABN AMRO Clearing Chicago LLC $1 million for a raft of breaches in the handling of customer accounts over a period of three years. The Dutch bank's futures trading unit had failed to properly segregate client funds by placing them in separate accounts on four occasions, the ...

UPDATE 1-Petrobras Sinopec in talks to build $20 bln refinery

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 11:35am EDT SAO PAULO, June 19 (Reuters) - Petrleo Brasileiro SA, Brazil's state-run oil company, and China Petroleum and Chemical Corp are in talks to build a $20 billion, 300,000-barrels-a-day refinery in the South American country, according to a securities filing on Wednesday. Petrobras said in the filing that the non-binding accord with Sinopec, as China Petroleum is ...

UPDATE 2-Mens Wearhouse ousts founder Zimmer

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 11:34am EDT * Company declines to say why he was terminated * Zimmer founded company in 1973, had been executive chairman since 2011 * Shares fall as much as 6 pct June 19 (Reuters) - Apparel retailer Men's Wearhouse ousted Executive Chairman George Zimmer, the face of the company founded 40 years ago, sending its shares down as much as 6 percent. The company, which gave no ...

EURO GOVT-Bunds rangebound as investors cautious before Fed

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 11:33am EDT * German Bunds rise in tight ranges before Fed * Lower-rated euro debt also little changed * Fed seen leaving door open for data-dependent tapering By Marius Zaharia and Ana Nicolaci da Costa LONDON, June 19 (Reuters) - German Bunds rose in thin trade on Wednesday but remained within recent tight ranges as investors were reluctant to take big bets before the outcome ...

UPDATE 1-Commerzbank to cut around 5200 jobs

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 11:31am EDT * Commerzbank to cut 12 percent of staff * Around 3,900 cuts come from German operations * Overall cuts to eliminate 5,200 jobs FRANKFURT, June 19 (Reuters) - Germany's second-largest lender Commerzbank said on Wednesday it will cut 5,200 jobs, about 12 percent of its 45,000 full-time staff, adding to job-shedding by banks across Europe. Banks including Lloyds, ...

UPDATE 2-Tesla recalls some Model S cars due to seat-mount defect

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 11:31am EDT By Bernie Woodall June 19 (Reuters) - Electric car maker Tesla Motors Inc will recall 1,228 of its 2013 Model S cars manufactured between May 10 and June 8 due to a defect in the mounting bracket of the rear seat. The fix will cost Tesla about $150,000 during the second quarter, company spokeswoman Shanna Hendriks said. Tesla will inspect and reinforce the bracket ...

AIRSHOW-WRAPUP 2-Orders top $100 bln as Ryanair gives Boeing a boost

Reuters - Wednesday 19th June, 2013

Wed Jun 19, 2013 11:29am EDT * Ryanair finalises Boeing order worth $15.6 bln at list prices * Says could order 200 or more Boeing 737 MAX this year * Airbus secures Air France-KLM, Singapore orders for A350 By Alwyn Scott and Maria Sheahan PARIS, June 19 (Reuters) - Orders at the Paris Airshow surpassed $100 billion on Wednesday, as planemakers Boeing and Airbus cashed in on demand for ...

NRC fines TVA for violation at Tennessee Watts Bar 2 reactor

Reuters - Wednesday 19th June, 2013

June 19 | Wed Jun 19, 2013 11:23am EDT June 19 (Reuters) - The U.S. Nuclear Regulatory Commission (NRC) said Wednesday it proposed a $70,000 penalty against Tennessee Valley Authority for violations related to the use of commercial grade components during the construction of the Watts Bar 2 nuclear reactor. Watts Bar is located near Spring City, Tennessee about 60 miles (97 km) ...

TREASURIES-Prices turn negative before Fed announcement

Reuters - Wednesday 19th June, 2013

NEW YORK, June 19 | Wed Jun 19, 2013 11:20am EDT NEW YORK, June 19 (Reuters) - U.S. Treasuries prices reversed gains on Wednesday and yields rose to session highs as anxious investors awaited the Federal Reserve's announcement at the end of its two-day policy meeting later in the day for signals over when it may begin to pare back its bond purchase program. The Fed statement is due ...

At the open TSX dips ahead of Federal Reserve policy statement

The Globe and Mail - Wednesday 19th June, 2013

Chairman of the U.S. Federal Reserve Ben Bernanke is seen on a monitor via teleconference in Chicago, May 10, 2012. Market players will be watching intently this week for clues that the Fed is about to begin scaling back its huge monetary stimulus, a key support of stock and bond prices. (JIM ...

CANADA STOCKS-TSX slips as BlackBerry Fed apprehension weigh

Reuters - Wednesday 19th June, 2013

* TSX falls 23.31 points, or 0.19 percent, to 12,344.12 * Five of 10 main index sectors decline * BlackBerry slips 3.2 percent after downgrade By John Tilak TORONTO, June 19 (Reuters) - Canada's main stock index retreated on Wednesday morning on market foreboding about what the U.S. Federal Reserve might say about its easy-money policy in a statement to be issued later in the day. Financial ...

Financial Stocks Financial stocks retreat ahead of Fed decision

MarketWatch - Wednesday 19th June, 2013

"It's just some last-minute nervousness about exactly what the Fed statement will say and what Bernanke might say at his press conference this afternoon," said David Hilder, analyst at Drexel ...

Tech Stocks Adobe rises but Apple Microsoft slip

MarketWatch - Wednesday 19th June, 2013

SAN FRANCISCO (MarketWatch) -- Shares of Adobe Systems Inc. jumped Wednesday, but the tech sector was weighed down by sliding shares of Apple Inc. and Microsoft ...