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Asian shares extend fall after China flash PMI
TOKYO (Reuters) - Asian shares, oil and copper extended losses on Thursday after data indicated little respite for Chinese manufacturers, keeping the outlook unclear whether policymakers in the world's second-largest economy will feel compelled to follow the global rush of stimulus action. Safe-haven assets, including government bonds, rose while currencies such as the dollar gained against the euro and the yen advanced broadly on reduced risk-taking sentiment after the U.S. Federal Reserve's aggressive stimulus last week, and the Bank of Japan's further easing on Wednesday. ...
From http://news.yahoo.com/asian-shares-extend-fall-china-flash-pmi-034733431--finance.html - 9/20/2012 1:53:13 PM
Nike approves $8 billion share repurchase program
(Reuters) - Nike Inc is beefing up its capacity to use its cash to purchase its own shares, with the board of the world's largest sportswear maker approving an $8 billion buyback program. The new $8 billion four-year repurchase program for Nike's class B stock will follow the company's current $5 billion buyback plan once that program is completed during the second quarter of fiscal 2013, Nike said on Wednesday. ...
From http://news.yahoo.com/nike-approves-8-billion-share-repurchase-program-005612828--finance.html - 9/20/2012 10:52:37 AM
Insight: How misstep over trading fractions wounded ICAP's EBS
NEW YORK (Reuters) - Who knew a single decimal point could cause so much trouble? Worried about diminishing market share and increasing competition, EBS, at one point the world's top foreign exchange dealing system, took a gamble and decided to let clients trade out to a fifth decimal point - that's one-thousandth of a cent. The move backfired. It accelerated a decline in the firm's market share in the nearly $5 trillion forex market and contributed to a management shake-up that caused three top executives to leave earlier this year. ...
From http://news.yahoo.com/insight-misstep-over-trading-fractions-wounded-icaps-ebs-050808252--sector.html - 9/20/2012 1:08:08 PM
BofA cutting 16,000 jobs by year end in cost-plan acceleration: WSJ
(Reuters) - Bank of America Corp is planning to cut 16,000 jobs by year end as it speeds up a company-wide cost-cutting initiative amid declining revenues, the Wall Street Journal reported on Wednesday. The job cuts would put the second-largest U.S. bank a year ahead of schedule in eliminating 30,000 jobs under a program called Project New BAC. The job cuts could shrink the bank's workforce below that of rivals JPMorgan Chase & Co and Wells Fargo & Co . The reductions were outlined in a document given to top management, the Journal reported. ...
From http://news.yahoo.com/bofa-cutting-16-000-jobs-end-cost-plan-040831672--sector.html - 9/20/2012 12:08:31 PM
PIMCO, DoubleLine, TCW big winners from Fed's QE3 assault
NEW YORK (Reuters) - The Federal Reserve's move to stimulate the economy by buying mortgage securities is proving to be manna from heaven for three of the biggest players in the bond fund business: Pacific Investment Management Company, DoubleLine Capital and TCW. The three investment firms all manage mutual funds that loaded up on mortgage-backed securities well before the Fed announced last Thursday that it would start buying $40 billion in government-backed mortgage debt each month until there's a sharp improvement in the job market. With U.S. ...
From http://news.yahoo.com/pimco-doubleline-tcw-big-winners-feds-qe3-assault-051427357--sector.html - 9/20/2012 1:14:27 PM
AEG sale sparks interest from media firms, private equity; may top $6 billion
NEW YORK/LOS ANGELES (Reuters) - Billionaire Phil Anschutz's sports and entertainment business AEG is sparking interest from a range of media firms and private equity firms, including Liberty Media Corp, Guggenheim Partners LLC, Thomas H. Lee Partners LP, Bain Capital LLC and Colony Capital LLC, in a deal that could fetch more than $6 billion, sources said. Anschutz, who is in his mid-70s, launched an auction of Anschutz Entertainment Group on Tuesday, as he looks for a partner to take on the company that owns some 100 entertainment venues globally and sports assets that include the L.A. ...
From http://news.yahoo.com/aeg-sale-sparks-interest-media-firms-private-equity-025853497--sector.html - 9/20/2012 11:04:26 AM
Analysis: China worries spur Mexico stock market flows
MEXICO CITY (Reuters) - Mexico has been on the wrong side of China's economic boom for the last decade, but is now seeing an upturn in its fortunes as the Asian powerhouse's economy slows and international stock pickers look to hedge their bets. Fund managers are shifting the composition of their portfolios to protect themselves against further slowing in China. That is bad news for exporter Brazil, but good news for Mexico, which has low trade exposure to Asia and which is starting to claw back the export share and wage competitiveness it lost to China. ...
From http://news.yahoo.com/analysis-china-worries-spur-mexico-stock-market-flows-040530101--sector.html - 9/20/2012 12:05:30 PM
Starbucks to elbow in on Green Mountain with October debut of one-cup brewer
(Reuters) - Starbucks Corp announced competitive prices for its new Verismo coffee and espresso makers that could pose a threat to brewers from Green Mountain Coffee Roasters Inc and Nestle SA , the dominant players in the $8 billion single-serve coffee market. The basic Verismo will sell for $199 while a larger version, with temperature controls and self-cleaning, will be priced at $399. Retail sales will begin in October, the company said late on Wednesday. The prices were in line with analysts' expectations. ...
From http://news.yahoo.com/starbucks-elbow-green-mountain-october-debut-one-cup-041026672--sector.html - 9/20/2012 12:10:26 PM
Corporate investment in U.S. start-ups rises 16 percent in second quarter: report
SAN FRANCISCO (Reuters) - Corporate-backed venture groups invested $2.1 billion in the quarter ended June 30, up 16 percent from the same period in 2011, underscoring the continued allure start-ups hold for their more established competitors. The corporate-backed funds invested in some 118 companies in the United States, according to a report released on Thursday by consultancy CB Insights, with internet companies winning almost one-third of the cash. Healthcare and the automotive/transportation sectors each took 20 percent. ...
From http://news.yahoo.com/corporate-investment-u-start-ups-rises-16-percent-060552097--sector.html - 9/20/2012 2:05:52 PM
Housing recovery advances as resales hit two-year high
WASHINGTON (Reuters) - Home resales rose in August to their highest rate in more than two years and groundbreaking on new homes also climbed, signs that a budding housing market recovery is gaining traction. The National Association of Realtors said on Wednesday that existing home sales increased 7.8 percent last month to an annual rate of 4.82 million units. That was well above economists' expectations and the fastest rate since May 2010 when activity was being supported by a home-buyer tax credit. The U.S. ...
From http://news.yahoo.com/housing-starts-fall-weak-multifamily-projects-123546587--business.html - 9/20/2012 1:40:15 AM
US housing recovery gains momentum in August
A jump in sales of previously occupied homes and further gains in home construction suggest the U.S. housing recovery is gaining momentum.
From http://news.yahoo.com/us-housing-recovery-gains-momentum-august-185849773--finance.html - 9/20/2012 2:59:41 AM
Macy's NYC flagship getting $400M makeover
A $400 million makeover is giving New York's iconic Macy's store a sleek, new 21st-century style.
From http://news.yahoo.com/macys-nyc-flagship-getting-400m-makeover-062943308--finance.html - 9/19/2012 6:05:11 PM
Asia stocks fall on weak Japan trade figures
Asian stock markets turned lower Thursday after weak Japanese trade figures underlined that the global economy continues to struggle.
From http://news.yahoo.com/asia-stocks-fall-weak-japan-trade-figures-025155053--finance.html - 9/20/2012 1:30:20 PM
Starbucks rolls out 'Verismo' brewer for $199
Starbucks Corp. is about to turn up the heat on the single-serve coffee market, and someone might get burned.
From http://news.yahoo.com/starbucks-rolls-verismo-brewer-199-040457598--finance.html - 9/20/2012 12:42:54 PM
Procter & Gamble adds Wildberry flavor to Prilosec
Procter & Gamble is adding a blast of fruit flavor to a pill that you swallow whole — a first for the world's largest consumer products maker.
From http://news.yahoo.com/procter-gamble-adds-wildberry-flavor-prilosec-041326041--finance.html - 9/20/2012 12:28:39 PM
Oil's slide continues, nears $90 a barrel
Oil sagged for a fourth day Thursday as high inventories and economic data from China and Japan reinforced fears of a global economic slowdown.
From http://news.yahoo.com/oils-slide-continues-nears-90-barrel-050443365--finance.html - 9/20/2012 1:05:57 PM
FDA urged to set standards for arsenic in rice
The Food and Drug Administration may consider new standards for the levels of arsenic in rice as consumer groups are calling for federal guidance on how much of the carcinogen can be present in food.
From http://news.yahoo.com/fda-urged-set-standards-arsenic-rice-100545079--finance.html - 9/20/2012 4:50:00 AM
Encouraging reports about housing lift US stocks
A pair of encouraging reports about the housing market gave U.S. stocks a little boost Wednesday.
From http://news.yahoo.com/encouraging-reports-housing-lift-us-stocks-200842197--business.html - 9/20/2012 4:20:38 AM
Pot could be tax windfall, but skeptics abound
A catchy pro-marijuana jingle for Colorado voters considering legalizing the drug goes like this: "Jobs for our people. Money for schools. Who could ask for more?"
From http://news.yahoo.com/pot-could-tax-windfall-skeptics-abound-171749093.html - 9/20/2012 10:38:53 AM
Japan posts $9.6B Aug. trade deficit; exports down
Japan posted a smaller-than-expected trade deficit of $9.6 billion for August, as exports to Europe and other Asian countries plunged, further undermining hopes for an export-driven revival.
From http://news.yahoo.com/japan-posts-9-6b-aug-trade-deficit-exports-005131477--finance.html - 9/20/2012 9:40:49 AM
BSkyB a "fit and proper" broadcaster: UK regulator
LONDON (Reuters) - British pay-TV group BSkyB is 'fit and proper' to hold a broadcast license, Britain's media regulator said after an investigation sparked by allegations of criminality at News Corp, its largest shareholder. Lifting a weight that had hung over the group, Ofcom said on Thursday it had cleared BSkyB of any wrongdoing after Rupert Murdoch's News Corp said journalists had hacked into phones on an industrial scale at its now-defunct News of the World tabloid. ...
From http://news.yahoo.com/uk-regulator-finds-bskyb-fit-proper-broadcaster-061602137--finance.html - 9/20/2012 2:36:19 PM
Malaysia's Astro locks in cornerstones for $1.5 billion IPO
KUALA LUMPUR (Reuters) - U.S. hedge funds Och-Ziff Capital Management and Standard Pacific Capital are among 16 cornerstone investors in the $1.5 billion IPO of pay-TV firm Astro Malaysia Holdings, a term sheet showed, underscoring international investors' growing interest in the Southeast Asian country. Nomura Asset Management, Great Eastern Life Assurance and Malaysian state-owned fund management firm Permodalan Nasional Bhd are some of the other cornerstone investors, the term sheet seen by Reuters showed, in what is set to be Malaysia's third-biggest IPO this year. ...
From http://news.yahoo.com/malaysias-astro-locks-cornerstones-1-5-billion-ipo-062136098--sector.html - 9/20/2012 2:21:36 PM
Japan posts $9.6B August trade gap as exports wilt
Japan posted a $9.6 billion trade deficit for August as shipments to Europe and Asian countries sank, further undermining hopes for an export-driven revival in the world's third-biggest economy.
From http://news.yahoo.com/japan-posts-9-6b-august-trade-gap-exports-061634602--finance.html - 9/20/2012 2:16:50 PM
Corporate investment in U.S. start-ups rises 16 percent in second quarter: report
SAN FRANCISCO (Reuters) - Corporate-backed venture groups invested $2.1 billion in the quarter ended June 30, up 16 percent from the same period in 2011, underscoring the continued allure start-ups hold for their more established competitors. The corporate-backed funds invested in some 118 companies in the United States, according to a report released on Thursday by consultancy CB Insights, with internet companies winning almost one-third of the cash. Healthcare and the automotive/transportation sectors each took 20 percent. ...
From http://news.yahoo.com/corporate-investment-u-start-ups-rises-16-percent-060552097--sector.html - 9/20/2012 2:05:52 PM
Brent falls under $108 on China data, Saudi pledge
SINGAPORE (Reuters) - Brent crude eased below $108 a barrel on Thursday after data showed China's manufacturing activity continued to contract, weakening sentiment further in a market already reeling from Saudi Arabia's pledge to keep global oil prices low. U.S. crude futures dropped to a six-week low after data showed crude stockpiles had jumped far more than expected last week due to a surge in imports. ...
From http://news.yahoo.com/brent-falls-under-108-china-data-saudi-pledge-051325676--finance.html - 9/20/2012 1:59:23 PM
Liberty launches $2.6 billion bid for rest of Belgium's Telenet
BRUSSELS (Reuters) - U.S. based cable operator Liberty Global launched a 1.96 billion euro ($2.56 billion) bid on Thursday for the shares in Belgian peer Telenet it did not already own. Liberty already owns 50.4 percent of the group and has been the controlling shareholder of Telenet since Feb 2007. Liberty said in a statement that the offer price of 35 euros per share represented a 14 percent premium over the average closing price over the past month. The company's shares closed on Wednesday at 31.10 euros. ($1 = 0.7658 euros) (Reporting By Philip Blenkinsop; editing by Robert-Jan Bartunek)
From http://news.yahoo.com/liberty-launches-2-6-billion-bid-rest-belgiums-055622245--sector.html - 9/20/2012 1:56:22 PM
Egypt-based Islamic finance firm eyes $100 mln investment
CAIRO (Reuters) - Cairo-based Ridge Islamic Capital said on Wednesday it has $100 million to raise its capital and invest in funds over the next two years to tap a growing market for Islamic finance. The firm was launched on Wednesday after Dubai-based regional investment company Ridge Solutions International Holdings, which is providing the $100 million, acquired Egyptian investment banking and asset management firm El Rashad. ...
From http://news.yahoo.com/egypt-based-islamic-finance-firm-eyes-100-mln-055452293--sector.html - 9/20/2012 1:54:52 PM
Asian shares extend fall after China flash PMI
TOKYO (Reuters) - Asian shares, oil and copper extended losses on Thursday after data indicated little respite for Chinese manufacturers, keeping the outlook unclear whether policymakers in the world's second-largest economy will feel compelled to follow the global rush of stimulus action. Safe-haven assets, including government bonds, rose while currencies such as the dollar gained against the euro and the yen advanced broadly on reduced risk-taking sentiment after the U.S. Federal Reserve's aggressive stimulus last week, and the Bank of Japan's further easing on Wednesday. ...
From http://news.yahoo.com/asian-shares-extend-fall-china-flash-pmi-034733431--finance.html - 9/20/2012 1:53:13 PM
Asia stocks fall on weak Japan trade figures
Asian stock markets turned lower Thursday after weak Japanese trade figures underlined that the global economy continues to struggle.
From http://news.yahoo.com/asia-stocks-fall-weak-japan-trade-figures-025155053--finance.html - 9/20/2012 1:30:20 PM
PIMCO, DoubleLine, TCW big winners from Fed's QE3 assault
NEW YORK (Reuters) - The Federal Reserve's move to stimulate the economy by buying mortgage securities is proving to be manna from heaven for three of the biggest players in the bond fund business: Pacific Investment Management Company, DoubleLine Capital and TCW. The three investment firms all manage mutual funds that loaded up on mortgage-backed securities well before the Fed announced last Thursday that it would start buying $40 billion in government-backed mortgage debt each month until there's a sharp improvement in the job market. With U.S. ...
From http://news.yahoo.com/pimco-doubleline-tcw-big-winners-feds-qe3-assault-051427357--sector.html - 9/20/2012 1:14:27 PM
Insight: How misstep over trading fractions wounded ICAP's EBS
NEW YORK (Reuters) - Who knew a single decimal point could cause so much trouble? Worried about diminishing market share and increasing competition, EBS, at one point the world's top foreign exchange dealing system, took a gamble and decided to let clients trade out to a fifth decimal point - that's one-thousandth of a cent. The move backfired. It accelerated a decline in the firm's market share in the nearly $5 trillion forex market and contributed to a management shake-up that caused three top executives to leave earlier this year. ...
From http://news.yahoo.com/insight-misstep-over-trading-fractions-wounded-icaps-ebs-050808252--sector.html - 9/20/2012 1:08:08 PM
Oil's slide continues, nears $90 a barrel
Oil sagged for a fourth day Thursday as high inventories and economic data from China and Japan reinforced fears of a global economic slowdown.
From http://news.yahoo.com/oils-slide-continues-nears-90-barrel-050443365--finance.html - 9/20/2012 1:05:57 PM
Starbucks rolls out 'Verismo' brewer for $199
Starbucks Corp. is about to turn up the heat on the single-serve coffee market, and someone might get burned.
From http://news.yahoo.com/starbucks-rolls-verismo-brewer-199-040457598--finance.html - 9/20/2012 12:42:54 PM
Procter & Gamble adds Wildberry flavor to Prilosec
Procter & Gamble is adding a blast of fruit flavor to a pill that you swallow whole — a first for the world's largest consumer products maker.
From http://news.yahoo.com/procter-gamble-adds-wildberry-flavor-prilosec-041326041--finance.html - 9/20/2012 12:28:39 PM
Australia's old media outstripped as online boosts ad share
MELBOURNE (Reuters) - A pack of new media specialists in Australia has surpassed many of the country's newspapers and television networks in size after diverting away the precious advertising dollars that have sustained the old guard for decades. Revenues have collapsed at newspapers, and the January-June half of this year was the first time more Australian ad spend went online than it did to newspapers, at 27 percent versus 24 percent, according to industry group the Commercial Economic Advisory Service of Australia (CEASA). ...
From http://news.yahoo.com/australias-old-media-outstripped-online-boosts-ad-share-042427944--sector.html - 9/20/2012 12:24:27 PM
Starbucks to elbow in on Green Mountain with October debut of one-cup brewer
(Reuters) - Starbucks Corp announced competitive prices for its new Verismo coffee and espresso makers that could pose a threat to brewers from Green Mountain Coffee Roasters Inc and Nestle SA , the dominant players in the $8 billion single-serve coffee market. The basic Verismo will sell for $199 while a larger version, with temperature controls and self-cleaning, will be priced at $399. Retail sales will begin in October, the company said late on Wednesday. The prices were in line with analysts' expectations. ...
From http://news.yahoo.com/starbucks-elbow-green-mountain-october-debut-one-cup-041026672--sector.html - 9/20/2012 12:10:26 PM
Procter & Gamble adds berry flavor to Prilosec
Procter & Gamble is adding flavoring to a pill that you swallow — a first for the world's largest consumer products maker.
From http://news.yahoo.com/procter-gamble-adds-berry-flavor-prilosec-040907230--finance.html - 9/20/2012 12:08:37 PM
BofA cutting 16,000 jobs by year end in cost-plan acceleration: WSJ
(Reuters) - Bank of America Corp is planning to cut 16,000 jobs by year end as it speeds up a company-wide cost-cutting initiative amid declining revenues, the Wall Street Journal reported on Wednesday. The job cuts would put the second-largest U.S. bank a year ahead of schedule in eliminating 30,000 jobs under a program called Project New BAC. The job cuts could shrink the bank's workforce below that of rivals JPMorgan Chase & Co and Wells Fargo & Co . The reductions were outlined in a document given to top management, the Journal reported. ...
From http://news.yahoo.com/bofa-cutting-16-000-jobs-end-cost-plan-040831672--sector.html - 9/20/2012 12:08:31 PM
Analysis: China worries spur Mexico stock market flows
MEXICO CITY (Reuters) - Mexico has been on the wrong side of China's economic boom for the last decade, but is now seeing an upturn in its fortunes as the Asian powerhouse's economy slows and international stock pickers look to hedge their bets. Fund managers are shifting the composition of their portfolios to protect themselves against further slowing in China. That is bad news for exporter Brazil, but good news for Mexico, which has low trade exposure to Asia and which is starting to claw back the export share and wage competitiveness it lost to China. ...
From http://news.yahoo.com/analysis-china-worries-spur-mexico-stock-market-flows-040530101--sector.html - 9/20/2012 12:05:30 PM
Australian CVC boss quits as firm struggles with Nine debt
SYDNEY/HONG KONG (Reuters) - The Australian head of CVC Capital Partners has resigned, as the private equity firm faces losses of up to $1.8 billion from its debt-funded acquisition of television network Nine Entertainment Co Pty Ltd. Such a loss would be the biggest ever on a single buyout deal in Asia. CVC said on Thursday that Adrian MacKenzie, a key player in its A$5.3 billion ($5.6 billion) investment buyout of Nine, is leaving after 17 years with the firm. ...
From http://news.yahoo.com/australian-cvc-boss-quits-firm-struggles-nine-debt-035022598--sector.html - 9/20/2012 11:50:22 AM
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