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China Galaxy soars 11 pct in debut after $1.1 bln Hong Kong IPO
HONG KONG | Wed May 22, 2013 1:12am EDT HONG KONG May 22 (Reuters) - China Galaxy Securities Co Ltd rose as much as 11.3 percent in its trading debut on Wednesday after raising $1.1 billion in a Hong Kong IPO, underscoring a surge in retail investors' demand for new listings in the city. The debut of China's seventh-biggest brokerage, and that of Sinopec Engineering (Group) Co ...
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UPDATE 1-Voters oust mayor of Harrisburg Pennsylvania in primary
Wed May 22, 2013 12:56am EDT By Michael Sadowski May 21 (Reuters) - The embattled mayor of Pennsylvania's financially crippled capital of Harrisburg was ousted on Tuesday when she lost the Democratic primary to the owner of an independent bookstore. Mayor Linda Thompson's loss to Eric Papenfuse comes after a tumultuous term in which her outbursts and statements caused a loss of ...
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Ford adds production in North America to meet new car demand
F.N ) is adding a week of production at 20 North American factories this year to build an additional 40,000 vehicles and help sustain its gains in U.S. market ...
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Currencies Dollar pulls back as Bernanke prepares to talk QE
LOS ANGELES (MarketWatch) -- The U.S. dollar slipped Wednesday, trading down against major rivals as investors waited to hear Federal Reserve Chairman Ben Bernanke's view of the U.S. economy and what that may mean for the Fed's current easing ...
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UPDATE 1-BOJ holds steady despite bond turmoil upgrades economic outlook
Wed May 22, 2013 12:21am EDT * BOJ stands pat, upgrades economic assessment * BOJ hopes to contain JGB turbulence via market operations * Doubts emerging that BOJ can hit inflation target in 2 years * Gov Kuroda press comments expected after 0715 GMT By Stanley White and Leika Kihara TOKYO, May 22 (Reuters) - The Bank of Japan kept policy steady on Wednesday despite concerns over recent ...
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UPDATE 1-US prosecutors consider using racketeering law against SAC-source
Wed May 22, 2013 12:11am EDT By Emily Flitter NEW YORK May 21 (Reuters) - U.S. prosecutors are considering charging Steven A. Cohen's SAC Capital Advisors as a criminal enterprise engaged in a long pattern of insider trading in stocks, according to a person familiar with the matter. Prosecutors may use the Racketeer Influenced and Corrupt Organizations Act, most commonly associated with ...
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JGBs turn negative on day after BOJ stands pat
TOKYO | Tue May 21, 2013 11:50pm EDT TOKYO May 22 (Reuters) - Japanese government bond prices erased earlier gains and fell on the day on Wednesday after the Bank of Japan refrained from taking any measures to stem a rout in the bond market in the past month and a half. The 10-year JGB futures dropped to as low as 141.60 , 0.29 point below their previous close, while the 10-year cash ...
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TREASURIES-Bonds supported after dovish Fed comments
TOKYO May 22 (Reuters) - U.S. Treasuries were firm in Asia on Wednesday after gains in the previous session as two voting members of the U.S. Federal Reserve struck a dovish tone on the economy, reducing expectations that the U.S. central bank is close to tapering its bond ...
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BOJ keeps policy on hold Kiuchi proposes looser price target timeframe
TOKYO (Reuters) - The Bank of Japan on Wednesday decided to keep monetary policy on hold, but one board member tried unsuccessfully to loosen the central bank's commitment to achieving its 2 percent inflation target within two ...
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Merck signs $5 billion share buyback agreement with Goldman Sachs
(Reuters) - Merck & Co Inc said it has entered into a $5 billion share repurchase agreement with Goldman Sachs Group Inc, as the drug giant looks to prop up shareholder value in face of stiff competition from makers of less-costly ...
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UPDATE 1-Freeport Indonesia says death toll rises to 28 after tunnel accident
JAKARTA, May 22 (Reuters) - The death toll from a tunnel collapse at the world's second largest copper mine run by Freeport McMoRan Copper & Gold Inc's Indonesian unit was raised to 28 on Wednesday as rescuers gave up hope of finding any ...
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RPT-Temasek raises stake in ICBC to 7.04 percent
Tue May 21, 2013 11:25pm EDT HONG KONG May 22 (Reuters) - Temasek Holdings (Private) Ltd increased its stake in Industrial and Commercial Bank of China (ICBC) from 6.71 to 7.04 percent, according to a regulatory filing the Singaporean investment fund made on Tuesday in Hong Kong. The move followed on the same day Goldman Sachs Group Inc's sale of its remaining $1.1 billion Hong Kong-traded ...
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JGBs rise after Fed comments lift U.S. bonds focus on BOJ
TOKYO | Tue May 21, 2013 10:51pm EDT TOKYO May 22 (Reuters) - Japanese government bonds edged up on Wednesday in line with a rise in U.S. bonds following dovish comments from Federal Reserve officials, but the Bank of Japan's looming policy meeting kept traders on edge. * The yield on the 10-year cash bonds fell 1.5 basis points to 0.865 percent. The yield hit a one-month high of ...
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Australia shares inch higher on Wall St banks weak
Tue May 21, 2013 9:43pm EDT (Adds details, comments, stocks on the move) SYDNEY May 22 (Reuters) - Australian shares inched 0.1 percent higher on Wednesday, led by blue-chip miners after comments from two voting U.S. Federal Reserve presidents eased fears the Fed was contemplating an imminent cut in its stimulus programme, helping Wall Street close at all-time highs. Bellwether miners BHP ...
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Westfield in talks to sell 7 U.S. malls to Starwood - source
SYDNEY | Tue May 21, 2013 9:36pm EDT SYDNEY May 22 (Reuters) - Australia's Westfield Group is in talks to sell seven U.S. shopping malls to private real estate investment company Starwood Capital Group for more than $1 billion, a source said on Wednesday. The discussions between Westfield, the world's second-largest shopping mall owner, and Starwood are at an early stage, said ...
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CORRECTED-OFFICIAL-Honda says small jets U.S. certification delayed by a year
Tue May 21, 2013 9:32pm EDT (Corrects final paragraph to show Honda has not decided on lithium-ion battery) TOKYO May 21 (Reuters) - Honda Motor Co Ltd's small passenger jet will not be licensed to fly by authorities in the United States until the second half of 2014, a year later than the company originally planned, Honda said on Tuesday. Honda expects the U.S. Federal Aviation ...
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UPDATE 4-Senate panel passes U.S. immigration bill Obama praises move
Tue May 21, 2013 9:22pm EDT * Judiciary Committee approved easing high-tech visa plan * Bill now heads to Senate floor for June debate * Obama says legislation consistent with his goals By Rachelle Younglai and Caren Bohan WASHINGTON, May 21 (Reuters) - A U.S. Senate panel on Tuesday approved legislation to give millions of illegal immigrants a path to citizenship, setting up a spirited debate ...
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UPDATE 3-The Irish loophole behind Apples low tax bill
Tue May 21, 2013 9:19pm EDT By Tom Bergin LONDON May 21 (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed Tuesday that Apple, maker of iPhones, iPads and Mac computers, channelled profits into ...
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Avid delays filing gets second Nasdaq warning
Louis Hernandez Jr., president and CEO, Avid Technology Avid Technology Inc. (Nasdaq:AVID) received its second letter from the Nasdaq Listing Qualifications Department saying it was no longer in compliance with Nasdaq exchange rules. The Burlington, Mass.-based maker of digital audio and video technology said it received the first warning letter in March after it delayed the filing of its annual ...
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UPDATE 1-Japan exports disappoint full benefits of weak yen yet to show
Tue May 21, 2013 8:48pm EDT * Exports +3.8 pct yr/yr in April vs +5.9 pct forecast * Imports +9.4 pct yr/yr in April vs +6.7 pct forecast * Trade deficit to persist as import costs weigh * Global demand seen picking up slowly, risks remain By Tetsushi Kajimoto TOKYO, May 22 (Reuters) - Japan's exports rose less than expected in April from a year earlier due to weak demand from Europe and ...
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U.S. House panel approves spending cuts assumes more to come
Tue May 21, 2013 8:46pm EDT * $967 billion spending cap approved, lowest in a decade * Republicans shifting limited funds toward defense, security By David Lawder WASHINGTON, May 21 (Reuters) - The Appropriations Committee of the U.S. House of Representatives made clear on Tuesday that automatic spending cuts will be a recurring nightmare for Washington as it passed a measure to sharply reduce ...
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Avianca-Taca shake-up to affect 50000 passengers in Costa Rica
SAN JOSE, Costa Rica | Tue May 21, 2013 8:41pm EDT SAN JOSE, Costa Rica May 21 (Reuters) - Airline Avianca-Taca said on Tuesday that the cancellation of five routes to and from Costa Rica will affect some 50,000 passengers who will have to be re-routed or given refunds if they prefer. The cancelled routes between San Jose and Los Angeles, New York, Havana, Quito and Guayaquil account ...
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REFILE-Ex-strategist can sue UBS as whistleblower -U.S. judge
Tue May 21, 2013 8:24pm EDT By Nate Raymond NEW YORK May 21 (Reuters) - UBS AG lost a bid Tuesday to dismiss a whistle-blower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for refusing to publish misleading research reports. U.S. District Judge Jesse Furman in Manhattan found that Trevor Murray, who was fired in February 2012, could move forward with ...
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CORRECTED-Amag investigates anemia drug after report of death in Switzerland
Tue May 21, 2013 8:24pm EDT (Corrects headline to "investigates." Amag did not say the drug caused the fatality.) May 21 (Reuters) - Amag Pharmaceuticals Inc said its marketing partner in Switzerland, Takeda Pharmaceutical Co Ltd, is recalling a batch of Amag's anemia drug, Rienso, because of a death and several cases of hypersensitivity. Amag shares were down about 5 percent at ...
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Australian shares rise after Wall St hits new all-time highs
Tue May 21, 2013 8:20pm EDT (Updates with movements in early trade) SYDNEY May 20 (Reuters) - Australian shares rose 0.4 percent on Wednesday, led by blue-chip miners after comments from U.S. Federal Reserve officials eased some concerns that the central bank might scale back its stimulus programme, helping Wall Street close at all-time highs. Bellwether miners BHP Billiton Ltd and Rio Tinto Ltd ...
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