Today's Reuters Business News Headlines - Yahoo! News:
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JP Morgan ready final Edinburgh Airport bids - sources
Mon,2 Apr 2012 11:25 PM PDT
Reuters -  LONDON (Reuters) - Global Infrastructure Partners (GIP), the owner of London's Gatwick and City airports, and a JP Morgan-led consortium are to fight each other for control of Edinburgh Airport and are set to submit final bids next week, sources close to the process said. GIP is an investment fund founded by Credit Suisse and General Electric. JP Morgan recently added the Korean airport authority Incheon International Airport Corp and U.S. teachers pension fund TIAA-Cref to its consortium. Consortia led by Carlyle Group and 3i were knocked out of the bidding last month, the sources said. ...
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Wall St starts second quarter with rally
Mon,2 Apr 2012 11:10 PM PDT
Reuters - NEW YORK (Reuters) - U.S. stocks started the second quarter with a bang on Monday, with the S&P 500 climbing to a fresh four-year high as manufacturing data from the United States and China helped support the outlook for economic growth. A string of mixed indicators in recent days slowed the stock market's advance, as investors took the figures as signs that the recovery was leveling off. The U.S. Institute for Supply Management's index of national manufacturing activity rose to 53.4, exceeding forecasts. China's Purchasing Managers' Index, meanwhile, hit an 11-month high. ... Full Story | Top |
Yen hits 3-week high on stop-loss buying, short-covering
Mon,2 Apr 2012 11:00 PM PDT
Reuters - TOKYO (Reuters) - The yen hit a three-week high on Tuesday on a flurry of stop-loss buying that kicked in after investors cut back on massive short positions built in recent weeks, while the euro licked its wounds after disappointing euro zone manufacturing and jobs data. The dollar tumbled from the previous day's peak of 83.31 yen to a session low of 81.55 after stop-loss trades were triggered in the 81.90-80 area, with traders citing sales by offshore leveraged funds and some Japanese investors. ... Full Story | Top |
Gold edges up on dollar weakness; policy cues eyed
Mon,2 Apr 2012 11:00 PM PDT
Reuters - SINGAPORE (Reuters) - Gold edged up on Tuesday in holiday-thinned trade on the back of a weaker dollar but remained in a tight range as investors awaited cues on the outlook of the U.S. economy and potential policy moves in the world's largest economy. Investors are looking for clues on policy direction from the minutes of the last U.S. Federal Reserve policy meeting, due on Tuesday, although Fed officials on Monday signalled little appetite for further monetary steps to stimulate U.S. growth in an economy that is gradually strengthening. U.S. ... Full Story | Top |
Copper hovers near 2-week high in slow trade
Mon,2 Apr 2012 10:59 PM PDT
Reuters - SINGAPORE (Reuters) - Copper held near two-week peaks on Tuesday as positive manufacturing data in the United States and China kept investors' upbeat mood mostly intact in slow trading in Asia. Copper rose more than 2 percent on Monday, its biggest single-day gain since February, although thin trading volumes - with China shut for a public holiday - made it difficult for the industrial metal to extend the rally. Three-month copper on the London Metal Exchange slipped 0.4 percent to $8,610 a tonne by 0357 GMT, its first loss in four sessions. ... Full Story | Top |
Brent holds above $125 on US data, North Sea supply
Mon,2 Apr 2012 10:57 PM PDT
Reuters - SINGAPORE (Reuters) - Brent crude was steady above $125 a barrel on Tuesday after sharp gains in the previous session, supported by fresh signs of a sustained recovery in top oil consumer the United States and the prospect of tighter crude supplies from the North Sea. Hopes for firmer oil demand rose after a key gauge of U.S. manufacturing activity beat expectations in March, a day after data showed a similarly strong performance by China's factories last month. The upbeat data offset disappointing economic numbers from Europe. ... Full Story | Top |
Shares rise on growth hopes after firm US data
Mon,2 Apr 2012 10:55 PM PDT
Reuters - TOKYO (Reuters) - Asian shares on Tuesday sustained momentum from an overnight rally in global equities, with solid manufacturing data from the United States offsetting signs of mild recession in Europe. Participants in European equity markets are expected to be cautious, however, with financial spreadbetters predicting major European markets will open flat to 0.2 percent higher. U.S. stock futures were steady. MSCI's broadest index of Asia Pacific shares outside Japan gained 0.7 percent, while a firmer yen hurt Japan's Nikkei average, which fell 0. ... Full Story | Top |
Shares rise on growth hopes after firm U.S. data
Mon,2 Apr 2012 10:53 PM PDT
Reuters -  TOKYO (Reuters) - Asian shares on Tuesday sustained momentum from an overnight rally in global equities, with solid manufacturing data from the United States offsetting signs of mild recession in Europe. Participants in European equity markets are expected to be cautious, however, with financial spreadbetters predicting major European markets will open flat to 0.2 percent higher. U.S. stock futures were steady. MSCI's broadest index of Asia Pacific shares outside Japan gained 0.7 percent, while a firmer yen hurt Japan's Nikkei average , which fell 0. ...
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Australia central bank holds rates, opens door to easing
Mon,2 Apr 2012 10:08 PM PDT
Reuters -  SYDNEY (Reuters) - Australia's central bank opened the door wide for a rate cut in May even as it held rates steady at 4.25 percent at a review on Tuesday, saying it wanted to see coming inflation data before deciding whether to ease policy. The Australian dollar slipped as the Reserve Bank of Australia (RBA) sounded a more cautious note on the economy, acknowledging that growth had disappointed. ...
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Brent holds above $125 on U.S. data, North Sea supply delay
Mon,2 Apr 2012 09:59 PM PDT
Reuters -  SINGAPORE (Reuters) - Brent crude was steady above $125 a barrel on Tuesday after sharp gains in the previous session, supported by fresh signs of a sustained recovery in top oil consumer the United States and the prospect of tighter crude supplies from the North Sea. Hopes for firmer oil demand rose after a key gauge of U.S. manufacturing activity beat expectations in March, a day after data showed a similarly strong performance by China's factories last month. The upbeat data offset disappointing economic numbers from Europe. ...
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Judge grants class action status to Tata wage suit
Mon,2 Apr 2012 07:59 PM PDT
Reuters - (Reuters) - Tata Sons Ltd employees who were deployed from India to work in information technology jobs in the United States won the right on Monday to proceed with a class action lawsuit against the Indian corporate giant over unpaid wages. California federal judge Claudia Wilken granted class-action status to the suit that accuses Mumbai-based Tata and its subsidiary, Tata Consultancy Services , of breaching employee contracts and violating California labor laws. Two former employees accused the company in 2006 of forcing all non-U.S.-citizen workers to sign over their U.S. ... Full Story | Top |
Wall Street starts second quarter with rally
Mon,2 Apr 2012 06:31 PM PDT
Reuters -  NEW YORK (Reuters) - U.S. stocks started the second quarter with a bang on Monday, with the S&P 500 climbing to a fresh four-year high as manufacturing data from the United States and China helped support the outlook for economic growth. A string of mixed indicators in recent days slowed the stock market's advance, as investors took the figures as signs that the recovery was leveling off. The U.S. Institute for Supply Management's index of national manufacturing activity rose to 53.4, exceeding forecasts. China's Purchasing Managers' Index, meanwhile, hit an 11-month high. ...
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Ford revives Lincoln with glass roof and "date nights"
Mon,2 Apr 2012 06:29 PM PDT
Reuters -  NEW YORK (Reuters) - Ford Motor Co is rolling out new Lincoln models with a panoramic glass roof option to lure younger, more affluent buyers, as the No. 2 U.S. automaker tries to revive a luxury brand whose sales peaked two decades ago. The new signature retractable 15-square-foot roof is just one feature designed to distinguish the 2013 Lincoln MKZ sedan in the crowded luxury market. Ford is betting that fresh designs, glossier showrooms and a personalized approach to service will help drive sales. ...
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Apple's iPad tops Consumer Reports' list despite heat issue
Mon,2 Apr 2012 05:19 PM PDT
Reuters -  SAN FRANCISCO (Reuters) - Apple Inc's new iPad topped Consumer Reports' list of tablets despite the influential watchdog's having earlier stoked doubts about the latest iteration of the best-selling tablet by saying it threw off more heat when used heavily. The widely followed group that reviews a broad range of services and products -- including electronics and cars -- said on Monday it conducted additional tests on a number of tablets running Google Android software, including Samsung's Galaxy Tab 10.1, and found higher temperatures common and not a cause for concern. ...
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Avon rejects $10 billion takeover bid from Coty
Mon,2 Apr 2012 05:18 PM PDT
Reuters -  (Reuters) - Coty Inc disclosed on Monday that it had offered $10 billion for Avon Products Inc but the larger company, which is grappling with sliding sales and a bribery probe, rejected the bid as too low and "opportunistic". Combining Coty, maker of Stetson aftershave and Beyoncé fragrances, with Avon, the world's largest direct seller of cosmetics, would give Coty less reliance on fragrances and a bigger share of growing overseas markets. Investors sent Avon's stock soaring as high as $23.38 on Monday after news of Coty's offer. The shares closed up 17.3 percent at $22.70. ...
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