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Peru central banker Velarde says economy up 7 pct in April
LIMA | Wed May 22, 2013 12:40pm EDT LIMA May 22 (Reuters) - Peru's economy recovered and likely grew about 7 percent or more in April from the same period a year ago, Central Bank President Julio Velarde said on Wednesday. The pace of growth slowed in March to 3.01 percent, the slowest monthly result since late ...
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UPDATE 2-Pearson agrees $75 mln settlement in U.S. e-books case
Wed May 22, 2013 12:39pm EDT By Kate Holton and Nate Raymond LONDON/NEW YORK May 22 (Reuters) - British publisher Pearson's Penguin unit said on Wednesday it would pay $75 million in damages plus costs to U.S. states and consumers as part of an agreement over alleged price-fixing in the e-book market. Pearson, which will take an extra provision on its accounts this year after setting aside ...
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Daiichi Sankyo says it was misled over Ranbaxy probes
MUMBAI | Wed May 22, 2013 12:37pm EDT MUMBAI May 22 (Reuters) - Japanese drugmaker Daiichi Sankyo Co, which bought control of Ranbaxy Laboratories in 2008, said it believes unnamed former shareholders of the Indian company hid information regarding U.S. regulatory probes into Ranbaxy. Last week, Ranbaxy pleaded guilty to felony charges related to drug safety and agreed to pay $500 ...
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Pentagon looks to private market for health records fix
By Phil Stewart WASHINGTON | Wed May 22, 2013 12:35pm EDT WASHINGTON May 22 (Reuters) - U.S. Defense Secretary Chuck Hagel will ask the private sector to develop software to track troops' health records, part of an ambitious plan to create a system that is fully integrated with the one used by the nation's military veterans, a U.S. official told Reuters on Wednesday. Hagel's ...
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SP affirms Uruguays long-term foreign currency sovereign credit rating
Wed May 22, 2013 12:34pm ...
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EURO GOVT-Bunds rise after solid German sale Bernanke comments
Wed May 22, 2013 12:34pm EDT * Bernanke eases concerns Fed will slow bond purchases * New 10-yr bond attracts more demand than 2013 average * Focus turns to euro zone manufacturing data By Emelia Sithole-Matarise LONDON, May 22 (Reuters) - German Bunds climbed on Wednesday after U.S. Federal Reserve Chairman Ben Bernanke signalled that the central bank's bond purchases would stay intact ...
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MAF mandates banks for US dollar perpetual hybrid bond - source
By Josie Cox Wed May 22, 2013 12:34pm EDT LONDON, May 22 (IFR) - UAE-based conglomerate Majid Al Futtaim Holdings LLC (MAF) mandated Goldman Sachs and HSBC as joint structuring advisers for a perpetual hybrid bond, a source told IFR on Wednesday. The source said that MAF, rated BBB+/BBB by S&P and Fitch, had mandated Bank of America Merrill Lynch, JP Morgan and Standard Chartered Bank as ...
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Fitch Confirms AAAF1+ on NY Liberty Devel Corp 2010A-1 Recovery Zone Bonds
Fitch: Recession Concern Dampens European Investor Sentiment An increasing number of investors expect fundamental credit conditions will deteriorate across sectors, according to a Fitch Ratings investor survey. The more circumspect sentiment was most notable for the sovereign segment, where the proportion of survey respondents anticipating worsening conditions more than doubled to 55%, from 24% ...
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FOREX-Dollar hits 4-12-year high vs yen 9-month high vs Swiss franc
* Dollar rallies after Bernanke testifies to Congress * BOJ upgrades economic assessment, stands pat as expected * Dollar climbs to 4-1/2-year high vs yen, 9-month peak vs Swiss franc NEW YORK, May 22 (Reuters) - The dollar rallied to trade at ...
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Cogeco Cable sells C$300 mln of 10-yr notes - term sheet
Wed May 22, 2013 12:12pm EDT May 22 (Reuters) - Cogeco Cable Inc on Wednesday sold C$300 million ($291 million) of 10-year notes, according to a term sheet seen by Reuters. The 4.175 percent notes, due May 26, 2023, were priced at 100.073 to yield 4.166 percent, or 225 basis points over the Canadian government benchmark. The investment dealer arm of Canadian Imperial Bank of Commerce was the ...
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UPDATE 2-U.S. natgas futures lower after three days of gains
* Front month remains under recent 21-month high * Weather forecasts warmer for next two weeks * Coming up: EIA natgas storage data on Thursday By Eileen Houlihan NEW YORK, May 22 (Reuters) - U.S. natural gas futures declined by midday on Wednesday, but pared earlier losses, as warm weather blanketing much of the country underpinned some profit-taking after recent gains. The front-month contract ...
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Spain banks may need to raise money to meet provisions-Rajoy
BRUSSELS | Wed May 22, 2013 12:11pm EDT BRUSSELS May 22 (Reuters) - Spain's Prime Minister Mariano Rajoy on Wednesday said the country's banks may have to raise capital on the financial markets to meet higher provisioning requirements. Rajoy, who was speaking at a news conference following a summit of European leaders in Brussels, said however that Spain would not need to tap ...
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Massachusetts reaches $9.6 mln REIT settlement with 5 broker-dealers
BOSTON | Wed May 22, 2013 12:02pm EDT BOSTON May 22 (Reuters) - Five independent broker-dealers will pay at least $9.6 million in fines and restitution to settle what Massachusetts' top securities regulator has called their improper sales of non-traded real estate investment trusts, or REITs. In a statement on Wednesday, Massachusetts Secretary of the Commonwealth William Galvin ...
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New York has enough power for peak summer demand -grid operator
Wed May 22, 2013 11:57am EDT May 22 (Reuters) - New York has enough electricity to meet the peak summer air conditioning demand in spite of the retirement of several older generating plants over the past year or so, the state's power grid operator said on Wednesday. The New York Independent System Operator (NYISO) forecast peak summer demand will reach 33,279 megawatts (MW), which is a ...
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UPDATE 2-British opposition leader says Google tax behaviour wrong
Wed May 22, 2013 11:55am EDT * Google's tax affairs in spotlight in Britain * Corporate tax avoidance is hot political issue * Miliband says Google is wrong, must improve * Google says it trying "to do the right thing" By Andrew Osborn and Costas Pitas LONDON, May 22 (Reuters) - Google Inc's tax affairs came under renewed scrutiny in Britain on Wednesday when the leader of the ...
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Brazils fiscal policy not fueling inflation Mantega says
BRASILIA | Wed May 22, 2013 11:53am EDT BRASILIA May 22 (Reuters) - Brazil's fiscal policy is not fueling inflation, which has increased mostly due to a temporary spike in food prices, Finance Minister Guido Mantega said on Wednesday. "We are not conducting an inflationary fiscal policy," said Mantega at a press conference to detail budget cuts. The Brazilian government ...
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Amid rancor a chance for U.S. action on trade bill
Wed May 22, 2013 11:51am EDT * Senator Baucus aiming for bipartisan bill by June * Representative Levin wants bill to cover currency * U.S. business gearing up to push for legislation By Doug Palmer WASHINGTON, May 22 (Reuters) - Major U.S. trade legislation appears increasingly likely to clear Congress this year despite an intensely partisan atmosphere made worse by scandals plaguing ...
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World Bank Insider Blows Whistle on Corruption Federal Reserve
A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve. The network has seized control of the media to cover up its crimes, too, she explained. In an interview ...
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EU to ensure firms pay more taxes where they are based-Merkel
BRUSSELS | Wed May 22, 2013 11:44am EDT BRUSSELS May 22 (Reuters) - The European Union will ensure big companies pay more taxes in the countries where they are based, German Chancellor Angela Merkel said on Wednesday. "We will work towards ensuring companies have to pay more where they are based," she said in Brussels at the end of an EU summit, adding that this would affect big ...
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Mexican peso erases gains stocks turn negative
MEXICO CITY | Wed May 22, 2013 11:44am EDT MEXICO CITY May 22 (Reuters) - Mexico's peso and stocks pared gains on Wednesday that stemmed from comments by U.S. Federal Reserve chairman Ben Bernanke, who hinted it was not time to rein in monetary stimulus that supports appetite for risky assets. The IPC Index dipped 0.69 percent to 40,251 points while the peso fell 0.238 percent to ...
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Political uncertainty could slow Madagascars economy- minister
By Alain Iloniaina ANTANANARIVO | Wed May 22, 2013 11:44am EDT ANTANANARIVO May 22 (Reuters) - Madagascar's economic growth could be hit by uncertainty surrounding elections scheduled for the second half of the year, the country's finance minister said. Hery Rajaonarimampianina told Reuters that the economy is currently growing in line with forecasts for a 2.8 percent expansion ...
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Frances Hollande says EU seeks automatic tax data sharing
BRUSSELS | Wed May 22, 2013 11:43am EDT BRUSSELS May 22 (Reuters) - French President Francois Hollande said on Wednesday that European countries would start working in June on an automatic exchange of tax information, in a bid to recoup some of the billions of euros lost in tax evasion each year. Hollande told a news conference following a four-hour summit of European leaders that the ...
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Financial Stocks J.P. Morgan leads financial stocks higher
Gupta was convicted of fraud and passing on insider secrets about Goldman Sachs to now felon Raj Rajaratnam. Rajaratnam is serving 11 years in prison for gaining insider tips for financial ...
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Futures Movers Oil falls ahead of U.S. government supply data
SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell Wednesday as traders braced for a U.S. government update on petroleum inventories following a trade group report that showed an unexpected rise in weekly crude ...
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Wall Street opens higher ahead of Bernanke
New York - US stocks edged higher at the open on Wednesday, ahead of highly anticipated testimony in Congress by Federal Reserve Chairman Ben Bernanke on the economy and monetary ...
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