Today's Reuters Business News Headlines - Yahoo! News:
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Spain debt rises on aid to banks, regions, finance cost
Sat,29 Sep 2012 10:02 PM PDT
Reuters -  MADRID (Reuters) - Spain's debt levels are set to rise next year, piling pressure on the government to apply for aid as it pours funds in to cash-strapped regions, an ailing banking system and rising refinancing costs, its budget showed on Saturday. Spain's debt as a ratio of gross domestic product will reach 90.5 percent by end 2013, according to the document presented to parliament for approval, almost three times that registered before the property bubble burst in 2008. The budget aims to make savings of around 13 billion euros ($16. ...
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World diaper output may take a hit from blasts at Japan plant
Sat,29 Sep 2012 08:48 PM PDT
Reuters - TOKYO (Reuters) - Global diaper output is likely to take a hit from an increase in the price of acrylic acid after a chemical tank explosion at Nippon Shokubai Co's Himeji plant in Japan, a main production base of the ingredient, Japanese media reported. Nippon Shokubai is one of the world's biggest makers of acrylic acid, the main ingredient of a resin called SAP, which is used in diapers. The plant produces about 20 percent of the world's SAP and 10 percent of global output of acrylic acid. ... Full Story | Top |
Holiday gifts take wraps off China graft challenge
Sat,29 Sep 2012 07:18 PM PDT
Reuters - SHANGHAI (Reuters) - The pre-holiday procession of Chinese entrepreneurs bearing gifts for the officials who hold sway over their businesses highlights the ubiquity of corruption in China and the difficulty the government will have in stamping it out. For the past few weeks, business people across the country have been preoccupied not with their companies' operations, but with delivering thinly veiled bribes to the officials who grant them permits, sign off on the quality of their products or validate their tax bills. ... Full Story | Top |
Former NY Times executive Arthur Sulzberger dies at 86
Sat,29 Sep 2012 01:25 PM PDT
Reuters -  NEW YORK (Reuters) - Former New York Times publisher Arthur Ochs Sulzberger, who led the company for 34 years in a period of growth that made it a multibillion-dollar media enterprise, died on Saturday at the age of 86, the newspaper said. Sulzberger, whose family bought the Times in 1896, died at his home in Southampton, New York, after a lengthy illness, his family said. Sulzberger, known by his childhood nickname Punch, became publisher of the Times in 1963 and it won 31 Pulitzer Prizes under his leadership. He turned over the publishing job to his son, Arthur Sulzberger Jr. ...
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Qatar says worried about value of dollar, euro: CNBC
Sat,29 Sep 2012 10:30 AM PDT
Reuters -  RIYADH (Reuters) - Wealthy Qatar, a major investor in U.S. and European assets, worries that haphazard attempts by countries to shore up their economies could weaken the dollar and the euro, its prime minister said. "What should happen is we should have a full package with a full strategy to solve the problems," Sheikh Hamad bin Jassim al-Thani, who also heads the country's sovereign wealth fund, Qatar Investment Authority (QIA), told U.S. financial broadcaster CNBC in an interview aired on Friday. This month the U.S. ...
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Crucial vote nears in Boeing contract talks
Sat,29 Sep 2012 09:17 AM PDT
Reuters -  SEATTLE (Reuters) - One of Boeing's chief labor unions staged rallies in and around Seattle this week, calling attention to a vote set for Monday that will show whether workers are willing to accept a less generous contract offered by Boeing Co or move closer to a strike. Hundreds of engineers and technicians marched at the company's two plants, its downtown Seattle office and other facilities with signs saying "Boeing: Hands Off My Healthcare" and "We Delivered. ...
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Dubai's Emaar sells hotel to Abu Dhabi firm
Sat,29 Sep 2012 05:41 AM PDT
Reuters - DUBAI (Reuters) - Dubai's Emaar Properties , the builder of the world's tallest tower, has sold one of its hotel assets to an Abu Dhabi-based real estate firm for an undisclosed amount. Eshraq Properties said in a statement on Saturday that it has acquired Nuran Marina, a serviced hotel apartment owned by Emaar and located in the up-market Dubai Marina area. Emaar said in a statement it was still focusing on Dubai but looking to strengthen its Address brand of hotels. "The transaction of Nuran Serviced Residencies Dubai Marina was completed in the second quarter of 2012. ... Full Story | Top |
Tunisia plans to issue Islamic bonds early 2013: cenbank
Sat,29 Sep 2012 05:21 AM PDT
Reuters - TUNIS (Reuters) - Tunisia plans to issue Islamic bonds early next year as the North African country seeks to reform its banking sector and diversify sources of funding, the central bank governor said on Saturday. "Tunisia will begin issuing Islamic bonds early next year ... This is part of the draft budget for 2013," Tunisian central bank governor Chadli Ayari told Reuters on the sidelines of a banking seminar. "There are studies under way for Islamic finance in the country, including issuing Islamic bonds. ... Full Story | Top |
Greece sure to get next aid tranche: German magazines
Sat,29 Sep 2012 04:56 AM PDT
Reuters -  BERLIN (Reuters) - Greece will receive its next tranche of international aid despite budget shortfalls and slow progress on reforms because the euro zone does not want the country to leave the common currency, two German magazines reported on Saturday. Athens will resume talks with the 'troika' of international lenders next week on a tranche worth 31 billion euros ($39.88 billion) needed to avert bankruptcy and a possible euro zone exit. The Greek government needs a deal so it can push an austerity package through parliament before the next meeting of Eurogroup finance ministers on October 8. ...
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Wall St marks best third quarter since 2010
Sat,29 Sep 2012 03:56 AM PDT
Reuters - NEW YORK (Reuters) - Wall Street closed its best third quarter since 2010 after a wave of central bank actions sparked a dramatic reversal in equity markets, but signs of weakness in the economy drove stocks lower on Friday. The S&P 500 climbed 5.9 percent over the past three months as central banks geared up to boost liquidity to markets and kick-start their flagging economies. The move has lifted the benchmark index as much as 17 percent this year, recently pushing the S&P to its best level in five years. But on Friday, investors grappled with more disappointing U.S. ... Full Story | Top |
Samsung wins reconsideration of Galaxy Tab sales ban
Sat,29 Sep 2012 03:18 AM PDT
Reuters -  SAN FRANCISCO (Reuters) - A U.S. appeals court ruled on Friday that a lower court should reconsider a sales ban against Samsung's Galaxy Tab 10.1 won by Apple in a patent dispute with the South Korean electronics maker. The injunction was put in place ahead of a month-long trial that pitted iPhone maker Apple Inc against Samsung Electronics Co Ltd in a closely watched legal battle that ended with a resounding victory for Apple last month on many of its patent violation claims. ...
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EU raids lead recycling firms in cartel investigation
Sat,29 Sep 2012 01:54 AM PDT
Reuters - BRUSSELS (Reuters) - The European Commission said it raided several lead recycling companies in a number of European Union countries on September 26 as part of an investigation into suspected cartel practices. The Commission did not name the countries or the companies, that it said had been buying old batteries and scrap lead for recycling. "The Commission has reasons to believe that the companies concerned may have violated Article 101 of the Treaty on the Functioning of the European Union (TFEU), which prohibits cartels and restrictive business practices," it said. ... Full Story | Top |
Tanzania licences first credit reference bureau
Sat,29 Sep 2012 01:42 AM PDT
Reuters - DAR ES SALAAM (Reuters) - Tanzania's central bank has licensed the country's first credit reference bureau to encourage information sharing among banks to spur lending and lower commercial interest rates, it said on Friday. Dun & Bradstreet, a global business information firm, was licensed as the credit reference bureau. "Access to individual or company's credit history reduces incidences of institutions lending to habitual defaulters," said Juma Reli, deputy governor at the central bank. ... Full Story | Top |
Tunisia sees budget deficit narrowing to 6 pct/GDP in 2013
Sat,29 Sep 2012 01:38 AM PDT
Reuters -  TUNIS (Reuters) - Tunisia's budget deficit should narrow to 6 percent next year from 6.6 percent of GDP expected in 2012, the central bank governor said on Friday, indicating economic recovery in the cradle of Arab Spring revolts may take longer than anticipated. Chadli Ayari, who took over in July after his predecessor was sacked, also said a 3.5 percent economic growth in 2013 was achievable while the government bets on 4.5 percent up from 3.5 percent it expects this year. ...
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Total to bid for more Uganda exploration blocks
Sat,29 Sep 2012 01:31 AM PDT
Reuters -  KAMPALA (Reuters) - French oil firm Total SA will be bidding for more exploration blocks in Uganda when the country conducts a new licensing round, a company executive said on Friday. Total entered the east African nation's burgeoning petroleum industry early this year after it took a third of British explorer Tullow Oil's exploration assets in the country. China's CNOOC also bought a third of the assets. Loic Laurandel, general manager of Total's Uganda unit, told reporters the company expected Uganda to produce its first oil in 2017. The government expects production sooner. ...
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