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UPDATE 2-Elan rejects Royaltys $6.4 bln raised offer
Thu May 23, 2013 1:22pm EDT * Elan says new bid continues to grossly undervalue company * Royalty cuts acceptance threshold from 90 pct previously * Irish firm's fate likely to be decided at June 17 meeting By Padraic Halpin DUBLIN, May 23 (Reuters) - Elan rejected Royalty Pharma's increased $6.4 billion bid on Thursday, shortly after the U.S. firm cut the acceptance bar for its latest ...
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Perus Q1 GDP slows on year but picks up steam from Q4
LIMA | Thu May 23, 2013 1:22pm EDT LIMA May 23 (Reuters) - Peru's gross domestic product expanded 4.8 percent in the first quarter from the same period a year earlier, which was the slowest quarterly pace since late 2009. But the economy expanded 2.1 percent in the first quarter from the fourth quarter. That was the strongest result of the last three quarters. The data for one of ...
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UPDATE 1-Mexicos Terrafina to buy Kimco properties for $600 mln
Thu May 23, 2013 1:21pm EDT MEXICO CITY May 23 (Reuters) - Mexican real estate investment trust Terrafina said on Thursday that it agreed to pay $600 million to acquire a Mexican property portfolio from U.S. Kimco Realty Corp and its partner American Industries. The portfolio of more than 80 properties totaling about 11 million square feet include light manufacturing facilities for the ...
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Fitch Affirms Oneida-Herkimer Solid Waste Management Auth NYs Revenue Bonds at A Outlook Stable
Fitch: Sub-Saharan Africa Has Gradual Upgrade Potential Fitch Ratings says in a newly-published report that targeted reforms and policy initiatives could see Sub-Saharan Africa's (SSA) sub-investment grade ratings gradually upgraded, despite per capita income falling well short of peers. The challenge for Africa from a rating perspective is the low level of GDP per capita - most SSA ...
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Fitch Confirms A+F1 on NY Lib Dev Corp Recovery Zone Bonds 2010A-2 3 4 Rate A-5
Fitch: Sub-Saharan Africa Has Gradual Upgrade Potential Fitch Ratings says in a newly-published report that targeted reforms and policy initiatives could see Sub-Saharan Africa's (SSA) sub-investment grade ratings gradually upgraded, despite per capita income falling well short of peers. The challenge for Africa from a rating perspective is the low level of GDP per capita - most SSA ...
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Solar plane completes second leg of cross-country flight in Texas
DALLAS | Thu May 23, 2013 1:15pm EDT DALLAS May 23 (Reuters) - A solar airplane that developers hope to eventually pilot around the globe landed safely on Thursday in Texas, completing the second and longest leg of an attempt to fly across the United States powered only by the sun. The spindly experimental aircraft, dubbed Solar Impulse, touched down at Dallas/Forth Worth International ...
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RPT-U.S. SEC charges ex-LPL adviser with $2 mln civil fraud
Thu May 23, 2013 1:14pm EDT By Suzanne Barlyn May 23 (Reuters) - The top U.S. securities regulator on Thursday filed civil fraud charges against a former LPL Financial LLC adviser, charging he diverted some $2 million of client funds to use for personal expenses. The U.S. Securities and Exchange Commission said that Blake Richards of Burford, Georgia, scammed at least six clients after promising ...
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UPDATE 3-New JJ anti-depressant related to Special K party drug
Thu May 23, 2013 1:13pm EDT By Ransdell Pierson NEW BRUNSWICK, N.J. May 23 (Reuters) - Johnson & Johnson said it plans to seek approvals for 11 new drugs by 2017, including a treatment for patients with depression who have failed to benefit from standard medications. The intranasal drug, called esketamine, is closely related to a pediatric anesthetic called ketamine that has been shown in ...
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Schools should make exercise core subject U.S. panel urges
Thu May 23, 2013 1:13pm EDT * Few students get recommended daily hour of exercise * 44 percent of schools cut exercise for more reading, math By Susan Heavey WASHINGTON, May 23 (Reuters) - U.S. schools need to boost efforts to get students moving, and make gym class as critical as other core subjects if they want to increase test scores as well as students' general well-being, a leading ...
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US STOCKS-Wall St dips as data HP offset stimulus fears
Thu May 23, 2013 12:53pm EDT * Encouraging economic data help stocks retreat from lows * HP jumps after raising 2013 outlook * Investors fret about timing of Fed stimulus pullback * Dow off 0.03 pct, S&P 500 off 0.3 pct, Nasdaq off 0.2 pct By Leah Schnurr NEW YORK, May 23 (Reuters) - U.S. stocks slipped on Thursday, recovering from session lows as encouraging domestic economic data and a rally ...
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WRAPUP 4-U.S. jobs housing data show economy has some muscle
* Weekly jobless claims fall 23,000 * Four-week average of claims slip 500 * May factory activity growth at seven-month low * New home sales rise in April, median price at record high By Lucia Mutikani WASHINGTON, May 23 (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, pointing to resilience in the labor market despite belt-tightening by ...
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UPDATE 1-Glencore says Iran metals swap deals did not violate sanctions
Thu May 23, 2013 12:47pm EDT * Swiss authorities saw no violations of U.N. or Swiss sanctions * Trafigura says cannot comment on UN experts' report * Iran under U.N., EU, U.S. sanctions for atomic work * Tehran insists its nuclear ambitions are peaceful By Louis Charbonneau UNITED NATIONS, May 23 (Reuters) - Swiss-based commodities giant Glencore Xstrata said on Thursday that it had done ...
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Ghana cabinet approves $1 bln Eurobond for July - fin min
ACCRA | Thu May 23, 2013 12:45pm EDT ACCRA May 23 (Reuters) - Ghana's cabinet has approved a Eurobond issue of up to $1 billion which is tentatively scheduled for July, Finance Minister Seth Terkper said on Thursday. "Based on anticipated market conditions and financing needs, a transaction size of up to $1 billion was recommended to, and approved by, cabinet," Terkper told ...
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Chile miner Codelcos chairman Jofre tapped to serve until 2017
SANTIAGO, May 23 (Reuters) - Chile president Sebastian Pinera has tapped Gerardo Jofre to stay on as state miner Codelco's chairman until May 2017, the world No.1 copper producer said in a statement on Thursday. Conservative Pinera has also named civil engineer Blas Tomic Errazuriz to Codelco's nine-man board. He replaces Jorge Bande, Codelco added. Codelco, which produces roughly 11 ...
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COLUMN - The many interpretations of Ben Bernanke Kaletsky
Thu May 23, 2013 12:39pm EDT By Anatole Kaletsky May 23 (Reuters) - On Wednesday in Washington, Federal Reserve Chairman Ben Bernanke presented congressional testimony that repeated, virtually word for word, statements about U.S. monetary policy he has been making since last September. The Federal Reserve, Bernanke said, would continue buying $85 billion of bonds monthly until it was confident ...
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US HY issuers turn to risky structures as investors snap up deals
By Joy Ferguson Thu May 23, 2013 12:38pm EDT NEW YORK, May 23 (IFR) - As investors continue to snap up US junk bonds in their quest for yield, issuers are taking advantage to bring some riskier structures. Payment-in-kind toggle notes, which re-emerged in the US in late 2012 for the first time since the 2008 financial crisis, and other structures that come with weakened protections for investors ...
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EU pledges 5 bln euros funding for electronics research
Thu May 23, 2013 12:38pm EDT * Aim is to boost research on cheaper, faster, smarter chips * Focus on research clusters BRUSSELS May 23 (Reuters) - The European Union is pledging 5 billion euros ($6.5 billion) to boost research on semiconductors and other electronics items used in everything from smartphones to cars, in a bid to boost the sector which is lagging U.S. and Asian ...
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TREASURIES-Bond prices flat as possible Fed tapering spurs worry
Thu May 23, 2013 12:34pm EDT * Benchmark yields hover above 2 percent * Yields could rise if Fed cuts back on bond buying * U.S. to sell $13 billion in 10-year TIPS By Richard Leong NEW YORK, May 23 (Reuters) - U.S. Treasury debt prices were little changed on Thursday, with benchmark yields holding above 2 percent, as traders worried about how high yields might rise whenever the U.S. Federal ...
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Chinas GDC Technology plans $75 mln U.S. market debut
By Stephen Aldred HONG KONG | Thu May 23, 2013 12:23pm EDT HONG KONG May 23 (Reuters) - GDC Technology Ltd, a Chinese digital cinema equipment maker backed by private equity firm Carlyle Group, has applied for a listing on U.S. stock exchange Nasdaq of up to $75 million. GDC is the second Chinese company to seek a U.S. initial public offering this year, after online retailer ...
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Brazils ViaVarejo CEO quits cites Po de Acar meddling-letter
SAO PAULO | Thu May 23, 2013 12:22pm EDT SAO PAULO May 23 (Reuters) - The former chief executive of Brazilian appliance and furniture retailer ViaVarejo said on Thursday he quit because of strategic differences with executives of the controlling Grupo Po de Acar, according to his resignation letter that Reuters obtained. Antonio Ramatis Rodrigues took the helm at ViaVarejo just six ...
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GLOBAL ECONOMY-U.S. China factories struggle Fed hints at less stimulus
Thu May 23, 2013 12:21pm EDT * China PMI shows factory activity declined in May * U.S. manufacturing activity hits seven-month low * Euro zone downturn eases slightly * Data, Bernanke comments from Wednesday send shares plummeting By Andy Bruce and Steven C. Johnson LONDON/NEW YORK, May 23 (Reuters) - Chinese factory activity declined in May for the first time in seven months and U.S. ...
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UPDATE 1-U.S. new car sales seen up 6-8 pct in May -analysts
Thu May 23, 2013 12:17pm EDT DETROIT May 23 (Reuters) - U.S. auto sales in May are expected to rise 6 percent to 8 percent and the annual sales pace should rebound back above 15 million vehicles after a disappointing result in the prior month, two research reports said on Thursday. Sales of new cars and trucks in May are expected to top 1.43 million vehicles, while the annual sales pace is ...
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UPDATE 2-ChannelAdvisor soars in debut
Thu May 23, 2013 2:20pm EDT * Shares jump more than 40 percent * Investors bet company will benefit from global e-commerce growth * ChannelAdvisor 'interested' in Alibaba marketplaces -CEO By Alistair Barr and Tanya Agrawal May 23 (Reuters) - ChannelAdvisor Corp shares soared more than 40 percent in their market debut on Thursday as investors bet the e-commerce software company will ...
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UPDATE 1-E-commerce software maker ChannelAdvisor soars in debut
Thu May 23, 2013 12:15pm EDT * Shares jump as much as 39 percent * Investors bet company will benefit from global e-commerce growth * ChannelAdvisor plans to help companies sell through Alibaba marketplaces By Alistair Barr and Tanya Agrawal May 23 (Reuters) - ChannelAdvisor Corp shares soared as much as 39 percent in their market debut on Thursday as investors bet the e-commerce software ...
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Italy aims to cut labour taxes in first 100 days - Saccomanni
ROME (Reuters) - Italy's government plans to cut labour taxes within a few months, funding the measure by reducing public spending, Economy Minister Fabrizio Saccomanni said on Thursday. "The government plans to in the first 100 days to start cutting taxes on houses and jobs, funding it with spending cuts and measures to fight tax evasion," Saccomanni said at a news conference in ...
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