Today's Reuters Business News Headlines - Yahoo! News:
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Asian stocks, euro surge on EU bond support
Thu,28 Jun 2012 10:56 PM PDT
Reuters -  TOKYO (Reuters) - Asian shares jumped and the euro surged more than 1 percent on Friday after European leaders agreed that euro zone banks could be recapitalized without adding to government debt, soothing fears over growing credit strains in Italy and Spain. As the dollar retreated on the back of the euro's sharp rebound, dollar-based oil, copper and gold also recovered. ...
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Stocks, euro surge on EU bond support
Thu,28 Jun 2012 10:51 PM PDT
Reuters - TOKYO (Reuters) - Asian shares and the euro surged on Friday after European leaders agreed that euro zone banks could be recapitalised without adding to government debt and opened the way for tapping a rescue fund, soothing fears over growing credit strains in Italy and Spain. European Council Chairman Herman Van Rompuy said the aim was to create a single supervisory mechanism to break the "vicious circle" between banks and sovereign government debt. ... Full Story | Top |
Gold rises on EU pledge, but eyes worst quarter in 8 years
Thu,28 Jun 2012 10:50 PM PDT
Reuters - SINGAPORE (Reuters) - Gold rose more than 1 percent on Friday, tracking a surge in the euro after European leaders agreed on the recapitalisation of banks without boosting government debt, helping ease fears over the region's debt crisis. But heavy losses over the past three months mean gold is still on track to post its worst quarter since 2004, as a growing global economic slowdown from Europe to China pushed investors to safer havens such as the dollar. Spot gold was up 1 percent at $1,566.84 an ounce by 0415 GMT, after hitting a session high of $1,569.20. U.S. gold gained 1. ... Full Story | Top |
Mauritius economic growth slows sharply in Q1
Thu,28 Jun 2012 10:41 PM PDT
Reuters -  PORT LOUIS (Reuters) - Mauritius's economic growth fell to 2.8 percent in the first quarter of this year from 5.1 percent last year, hit by a slowdown in Europe, which cut demand for the island state's exports and tourist arrivals, the government said on Friday. "Hotels and restaurants continued its declining trend with a stagnation in the first quarter of 2012 after the growth of 1.0 pct noted for the fourth quarter of 2011," the statistics office said in a statement.
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RIM delays new BlackBerry launch; sales crumble
Thu,28 Jun 2012 10:41 PM PDT
Reuters -  TORONTO (Reuters) - Research In Motion Ltd delayed the make-or-break launch of its next-generation BlackBerry phones until next year, in a devastating setback to the once-dominant technology company whose sales are crumbling. Shares of the company, which also announced a steeper-than-expected quarterly operating loss and deep job cuts on Thursday, plunged 14 percent after it said it would release its revamped BlackBerry 10 devices early in 2013. It conceded the development had "proven to be more time-consuming than anticipated. ...
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US urged to reach out to "pro-business" Egypt
Thu,28 Jun 2012 10:30 PM PDT
Reuters - WASHINGTON (Reuters) - The United States should reach out to Egypt's Islamist president-elect Mohamed Mursi with an offer to negotiate a free trade agreement, an Egyptian business leader said on Thursday. Hisham Fahmy, president of the American Chamber of Commerce in Egypt, told the Washington International Trade Association that an announcement saying the two sides wanted to start free trade talks would help the United States' image in Egypt. It would also enable the United States to compete in the Egyptian market with the European Union. ... Full Story | Top |
SEC may order Nasdaq to upgrade trading systems: WSJ
Thu,28 Jun 2012 10:28 PM PDT
Reuters - (Reuters) - U.S. securities regulators may force Nasdaq OMX Group Inc to upgrade its trading systems following last month's glitch-ridden IPO of Facebook Inc , the Wall Street Journal reported. The Securities and Exchange Commission is looking into what caused the glitches that left the market makers - who facilitate trades for brokers - in the dark for hours as to which trades had gone through. ... Full Story | Top |
Wall St ends down but well off session
Thu,28 Jun 2012 10:25 PM PDT
Reuters - NEW YORK (Reuters) - U.S. stocks fell on Thursday but ended above session lows on talk of progress among European leaders in resolving the region's debt crisis, while the Supreme Court's ruling upholding a landmark healthcare law hit big health insurers. Based on the latest available data, the Dow Jones industrial average was down 24.90 points, or 0.20 percent, at 12,602.11. The Standard & Poor's 500 Index was down 2.84 points, or 0.21 percent, at 1,329.01. The Nasdaq Composite Index was down 25.83 points, or 0.90 percent, at 2,849.49. Full Story | Top |
On historic day at Supreme Court, U.S. citizens and world come to watch
Thu,28 Jun 2012 10:22 PM PDT
Reuters - WASHINGTON (Reuters) - In sweltering Washington heat, more than 1,000 people from across the United States and around the world gathered outside the U.S. Supreme Court Thursday to await the court's decision on President Barack Obama's contested healthcare law. The historic day proved a magnet not only for the media throngs but for belly-dancing protesters, flag-waving, bullhorn-wielding partisans on all sides and the now omni-present Tea Party sentinel in full Revolutionary War uniform. The mood outside the court, which is across the street from the domed U.S. ... Full Story | Top |
Oil gains $1 on EU hopes; set for worst qtr since 2008
Thu,28 Jun 2012 10:14 PM PDT
Reuters - SINGAPORE (Reuters) - Brent oil rose more than a dollar to above $92 per barrel on Friday after European leaders agreed on steps to tackle the region's intractable crisis in a move that could lift the global economy and fuel demand, while supply disruptions also aided. Optimism coursed through financial markets after the agreement to create a single supervisory body for euro zone banks and to allow them to be recapitalised directly by the currency area's rescue fund without adding to government debt. ... Full Story | Top |
Larger U.S. corn, soy area may not ease drought worry
Thu,28 Jun 2012 10:11 PM PDT
Reuters - WASHINGTON (Reuters) - American farmers likely sowed far more soybean seeds than they had originally intended this year and planted the most corn acreage in 75 years, the U.S. government is expected to say on Friday in a report that has been overshadowed by a deepening drought in the Midwest. The U.S. Agriculture Department's acreage and quarterly stockpile reports, normally among the most important of the year for estimating supplies from the world's top grower, may be set aside by traders who fear that intense heat and a lack of rain is damaging corn stalks every day. ... Full Story | Top |
JPMorgan's internal controls under increased scrutiny: WSJ
Thu,28 Jun 2012 09:10 PM PDT
Reuters - (Reuters) - JPMorgan Chase & Co.'s internal controls have come under increased scrutiny by regulators who have asked the bank to demonstrate its risk models are designed and working properly, the Wall Street Journal reported, citing to people close to the situation. The bank's primary regulator, the Office of the Comptroller of the Currency, has requested reviews of models that measure the possible effects of everything from trading losses to interest-rate moves, the Journal said. ... Full Story | Top |
United Technologies sent military copter tech to China
Thu,28 Jun 2012 09:07 PM PDT
Reuters - WASHINGTON (Reuters) - United Technologies Corp on Thursday admitted selling China software that helped Beijing develop its first modern military attack helicopter, one of hundreds of export control violations over nearly two decades. At a federal court hearing in Bridgeport, Connecticut, United Technologies and its two subsidiaries, Pratt & Whitney Canada and Hamilton Sundstrand Corp, agreed to pay more than $75 million to the U.S. government to settle criminal and administrative charges related to the violations. ... Full Story | Top |
Noda's tax success may fail to end Japan deadlock
Thu,28 Jun 2012 08:29 PM PDT
Reuters -  TOKYO (Reuters) - After years of policy paralysis in Japan, Prime Minister Yoshihiko Noda has pushed a much-needed but unpopular sales tax hike through the lower house of parliament, but the chances of further reform in the world's third-largest economy seem unlikely. Noda, 55, is low key and likened himself to a "dojo" bottom-feeding fish when he took office in September last year. However, the sixth prime minister since 2006 is set to achieve a breakthrough that has eluded several of his predecessors. ...
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Alcoa says grant to help keep Aus smelter running
Thu,28 Jun 2012 08:26 PM PDT
Reuters - CANBERRA (Reuters) - Alcoa on Friday said it expects to keep its Point Henry aluminum smelter in Australia operating until at least mid-2014 but warned losses at the 190,000-tonnes-per-year plant were mounting as market conditions deteriorate. The news coincides with the granting of a government assistance package totaling more than A$40 million aimed at preserving most of the 600 jobs at the smelter as Alcoa grapples with a severe downturn in market conditions and reviews its aluminum-making operations worldwide. ... Full Story | Top |
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