Today's Reuters Business News Headlines - Yahoo! News:
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Shares mark time ahead of Spanish bond test
Wed,18 Apr 2012 11:26 PM PDT
Reuters - TOKYO (Reuters) - Asian shares and the euro traded in tight ranges on Thursday ahead of a Spanish bond sale seen as a key test of investors' risk appetite amid renewed concerns over the euro zone's debt crisis. European shares were also expecting a mixed start, with financial spreadbetters predicting that major European markets would open between down 0.2 percent and up 0.2 percent. U.S. stock futures were up 0.1 percent. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.1 percent lower, spending the session vacillating in a band between up 0.2 percent and down 0.2 percent. ... Full Story | Top |
SABMiller gets a beer boost from emerging markets
Wed,18 Apr 2012 11:23 PM PDT
Reuters - LONDON (Reuters) - Global brewer SABMiller showed a 3 percent rise in underlying beer volumes in the first three months of 2012 as growth in the emerging markets of Latin America, Africa and Asia offset declines in Europe and North America. The world's No 2 brewer and maker of Miller Lite, Castle and Peroni beers added on Thursday that beer volumes at its newly-acquired Foster's Australian business dipped 4 percent in the first three months of ownership in a tough market. ... Full Story | Top |
Nigeria First Bank plans $500 mln bond later in year
Wed,18 Apr 2012 11:18 PM PDT
Reuters - LAGOS (Reuters) - Nigeria's First Bank has appointed Goldman Sachs and Citi Bank to manage the sale of a $500 million Eurobond planned for later in the year, its chief financial officer told Reuters on Wednesday. Speaking at the Reuters Africa Investment Summit in Lagos, Bayo Adelabu said the new bond would replace a $175 million Eurobond, which it retired last month. "We've appointed advisers for the bond - Goldman Sachs and Citibank - to launch the $500 billion Eurobond," Adelabu told Reuters in an interview. ... Full Story | Top |
Sudan says about 40,000 bpd of oil lost from Heglig
Wed,18 Apr 2012 11:17 PM PDT
Reuters - KHARTOUM (Reuters) - Sudan has lost about 40,000 barrels per day (bpd) of crude output - roughly a third of its total production - after South Sudan took control of the oil-producing Heglig border region, an oil official told Reuters on Wednesday. Officials have previously said production at the vital Heglig oilfield had stopped after the South seized the area in escalating border clashes last week, but had not given figures. State Oil Minister Ishaq Adam Gamaa told Reuters Sudan's oil output had fallen "about 40,000 barrels per day," bringing the country's remaining output to about 75,000 ... Full Story | Top |
Exclusive: Hong Kong moves closer to bank liability for IPOs
Wed,18 Apr 2012 11:14 PM PDT
Reuters -  (Reuters) - Hong Kong's financial market watchdog will launch a public consultation in the next couple of weeks that seeks to toughen rules for banks sponsoring initial public offerings, including holding them liable for faulty deal documents. The move is likely to draw strong opposition from foreign investment banks worried about increased risk in a market that has been the world's biggest for listings in two of the past three years, but has also seen a number of scandals. ...
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Qatar lends Tunisia $500 mln: c.bank
Wed,18 Apr 2012 11:13 PM PDT
Reuters - TUNIS (Reuters) - Qatar lent Tunisia $500 million in a private placement this week, the Tunisian central bank said on Wednesday, to help government finances recover from last year's uprising. The five-year loan carries an interest rate of 2.5 percent, the central bank said in a statement. A finance ministry official said last month that Qatar would subscribe to $500 million in five-year Tunisian treasury bonds at 2.5 percent but did not say when the transaction would be completed. ... Full Story | Top |
Gold Fields increases investment in Peru project
Wed,18 Apr 2012 11:05 PM PDT
Reuters - SANTIAGO (Reuters) - South African miner Gold Fields, the world's No. 4 gold producer, increased the initial investment for its Peruvian Chucapaca project to $1.2 billion, the company's vice president for South America told Reuters on Wednesday. Initial investment at the Chucapaca gold project, which Gold Fields is developing with Peruvian top precious metals miner Buenaventura, was previously reported at $750 million. "It's a project that will require a substantial investment of resources ... $1. ... Full Story | Top |
Shares mark time ahead of Spanish bond test
Wed,18 Apr 2012 11:03 PM PDT
Reuters -  TOKYO (Reuters) - Asian shares and the euro traded in tight ranges on Thursday ahead of a Spanish bond sale seen as a key test of investors' risk appetite amid renewed concerns over the euro zone's debt crisis. European shares were also expecting a mixed start, with financial spreadbetters predicting that major European markets would open between down 0.2 percent and up 0.2 percent. U.S. stock futures were up 0.1 percent. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.1 percent lower, spending the session vacillating in a band between up 0.2 percent and down 0.2 percent. ...
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BOJ deputy gov: to take appropriate policy steps
Wed,18 Apr 2012 10:37 PM PDT
Reuters - TOKYO (Reuters) - Bank of Japan Deputy Governor Hirohide Yamaguchi said on Thursday the central bank would take appropriate policy steps as needed to support companies in its pursuit of strong monetary easing, keeping alive expectations for further easing. "The Bank believes that, in order for Japan's economy to overcome deflation, efforts to increase the economy's growth potential and support from the financial side are both necessary," he said in speech at the Japan Chamber of Commerce and Industry. ... Full Story | Top |
Brent holds above $118 ahead of Spain auction
Wed,18 Apr 2012 10:23 PM PDT
Reuters - SINGAPORE (Reuters) - Brent crude futures held above $118 on Thursday as investors remained cautious ahead of a key Spanish bond auction, with renewed fears of a euro zone debt crisis keeping a lid on oil demand. A higher-than-expected increase in crude oil stocks, which rose for a fourth straight week in the United States, also weighed on prices. Brent June crude gained 29 cents to $118.26 a barrel at 00:58 a.m. EDT, after hitting $116.70 in the previous session, its lowest in more than two months. U.S. May crude slipped seven cents to $102. ... Full Story | Top |
Drops in iron ore output by majors help prop up price
Wed,18 Apr 2012 08:58 PM PDT
Reuters - SYDNEY (Reuters) - Global miners BHP Billiton , Vale and Rio Tinto all posted sharp drops in quarterly iron ore production due to bad weather, a factor that has helped support iron ore prices at relatively high levels despite signs of a softening market. The falls in output come as competition heats up in global bulk commodities markets due to demand from China for imported industrial raw materials finally showing signs of waning after years of double-digit growth. At $149.20 a metric tonne, iron ore prices are 22 percent below last year's highs. ... Full Story | Top |
Bank of Japan's Shirakawa stresses commitment to powerful easing
Wed,18 Apr 2012 08:55 PM PDT
Reuters -  NEW YORK (Reuters) - Bank of Japan Governor Masaaki Shirakawa stressed on Wednesday the central bank is fully committed to continuing powerful monetary easing, but warned that central banks can only buy time for governments to pursue structural reforms. The Bank of Japan holds its next policy review on April 27 and Shirakawa's comments signal its readiness to keep monetary policy ultra-loose and act when deemed necessary to beat deflation in the world's third-biggest economy. ...
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Judge dismisses claims against banks in GE lawsuit
Wed,18 Apr 2012 08:22 PM PDT
Reuters - NEW YORK (Reuters) - A federal judge on Wednesday dismissed claims against Goldman Sachs Group Inc , JPMorgan Chase & Co and 40 other defendants that they helped mislead investors in General Electric Co's $12.2 billion stock offering in 2008. U.S. District Judge Denise Cote, who took over the case in February, said a January ruling denying the defendants' bid to dismiss claims failed to consider key court rulings and improperly relied on certain statements. ... Full Story | Top |
IMF says secures $320 billion in drive for new funds
Wed,18 Apr 2012 08:03 PM PDT
Reuters -  WASHINGTON (Reuters) - The International Monetary Fund said on Wednesday it had raised $320 billion so far in a bid to boost its firepower to deal with the euro zone debt crisis, with Poland and Switzerland joining the effort. IMF Managing Director Christine Lagarde said she had received commitments of $34 billion on Wednesday, including $8 billion from Poland and "a substantial amount" from Switzerland. "Ensuring that the Fund has sufficient resources to tackle crises and to promote global economic stability is in the interests of all our members," she said in a statement. ...
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Factbox: IMF says has funding commitments of $320 billion
Wed,18 Apr 2012 08:03 PM PDT
Reuters - International Monetary Fund Managing Director Christine Lagarde said on Wednesday she had secured commitments totaling about $320 billion in funding to help the IMF safeguard economies from the debt crisis in Europe. Lagarde has said she hoped to secure agreements totaling at least $400 billion for the IMF at talks in Washington this week among financial officials from around the globe. The following is a list of commitments by country, region or grouping of countries. ... Full Story | Top |
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