Daily News: Reuters Business News Headlines - Ex-chairman of firm linked to Caterpillar fraud "dismayed"

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Sunday, Jan 27, 2013 11:37 PM PST
Today's Reuters Business News Headlines - Yahoo! News: Ex-chairman of firm linked to Caterpillar fraud "dismayed" Monti repeats backing for Bank of Italy over Monte Paschi S.Africa's All-share index hits fresh record high Kenya tea earnings seen up 4 pct in 2013 -regulator S.Africa's rand digs in below 9.0 vs dollar Seoul pulls Asian shares down, solid economic data helps Kenya, Uganda seek private investment partner for oil pipeline Exclusive: Japan eased safety standards ahead of Boeing 787 rollout BaFin probes lenders Deutsche Bank over Euribor: paper Toyota wins back world's top auto sales crown from GM Honda 2012 global sales up 19 pct to 3.82 million vehicles Brent hovers above $113 ahead of US Fed meeting Nissan sells record 4.9 million vehicles globally in 2012 Analysis: In Davos, world seeks U.S. engagement Two Bumi directors say not supportive of Rothschild's plans: FT

Ex-chairman of firm linked to Caterpillar fraud "dismayed"  Sunday, Jan 27, 2013 11:37 PM PST HONG KONG (Reuters) - The former chairman of a Chinese mining equipment firm bought by Caterpillar Inc said on Monday he was dismayed by allegations of accounting misconduct at a subsidiary that prompted the U.S. firm to take a $580 million writedown. Emory Williams Jr said Caterpillar had conducted extensive due diligence before its takeover of Hong Kong-listed ERA Mining Machinery Ltd last June, adding that he was seeking further details from the company, the world's largest maker of tractors and excavators. ... Full Story	Top
Monti repeats backing for Bank of Italy over Monte Paschi  Sunday, Jan 27, 2013 11:33 PM PST ROME (Reuters) - Italian Prime Minister Mario Monti repeated on Monday his backing for the Bank of Italy and its former governor Mario Draghi over the mounting scandal surrounding the troubled Monte dei Paschi bank. "I want to confirm my full confidence in the Bank of Italy and in those who are in charge of it and who have been in charge of it," he said during a talk show on Italy's La7 television channel. ... Full Story	Top
S.Africa's All-share index hits fresh record high  Sunday, Jan 27, 2013 11:12 PM PST JOHANNESBURG (Reuters) - South Africa's All-share index hit a new record high on Monday, rising 0.2 percent to 40,622.89. The index's previous record high was 40,604.59. Full Story	Top
Kenya tea earnings seen up 4 pct in 2013 -regulator  Sunday, Jan 27, 2013 11:04 PM PST NAIROBI (Reuters) - Kenya's tea exports earnings, the east African country's top foreign exchange source, are seen rising 4 percent to 116 billion shillings in 2013, industry regulator Tea Board of Kenya said on Monday. Tea export earnings in the world's largest exporter of black tea rose 3 percent last year to 112 billion shillings due to a stable foreign exchange rate and favourable global prices, the regulator said in a statement. The country's tea output fell 2 percent to 369 million kg from 377 million kg a year before, but is expected to rise one percent this year, the regulator said. Full Story	Top
S.Africa's rand digs in below 9.0 vs dollar  Sunday, Jan 27, 2013 11:03 PM PST JOHANNESBURG (Reuters) - South Africa's currency weakened early on Monday, but remained stronger than the psychological and technical support area of 9 to the dollar, suggesting rand bears will be on the back foot for the session. Signs that investor confidence was returning to the euro zone, a major trading partner for local manufacturers, propped that region's currency against the dollar, allowing investors to buy into risky-but-higher yielding emerging markets such as South Africa. The rand was at 8.9650 to the dollar at 0636 GMT, compared with a close of 8. ... Full Story	Top
Seoul pulls Asian shares down, solid economic data helps  Sunday, Jan 27, 2013 10:34 PM PST TOKYO (Reuters) - Tech-heavy South Korean shares led the broader Asian share index lower on Monday on fears of weaker earnings, but improving economic prospects in Europe and solid U.S. profit reports underpinned sentiment. Gold languished near two-week lows and was capped as the improving global macroeconomic environment has curbed interest in safe haven assets. "Investors would rather move their money into equities or bulk commodities from safe-haven assets," said Li Ning, an analyst at Shanghai CIFCO Futures. ... Full Story	Top
Kenya, Uganda seek private investment partner for oil pipeline  Sunday, Jan 27, 2013 10:11 PM PST NAIROBI (Reuters) - Kenya and Uganda said on Monday they were looking for a strategic private investment partner to build and operate a pipeline to transport refined petroleum products between the two east African countries. The new pipeline, estimated to cost $300 million, is expected to join an existing pipeline from Eldoret, western Kenya, and ferry oil to Uganda's capital Kampala, a distance of about 352 km (220 miles). ... Full Story	Top
Exclusive: Japan eased safety standards ahead of Boeing 787 rollout  Sunday, Jan 27, 2013 10:00 PM PST TOKYO (Reuters) - Japan's government stepped in to give Boeing Co's now-grounded 787 Dreamliner and its made-in-Japan technology a boost in 2008 by easing safety regulations, fast-tracking the rollout of the groundbreaking jet for Japan's biggest airlines, according to records and participants in the process. ... Full Story	Top
BaFin probes lenders Deutsche Bank over Euribor: paper  Sunday, Jan 27, 2013 09:47 PM PST FRANKFURT (Reuters) - German regulator BaFin has launched a special probe against four lenders including Deutsche Bank as part of an investigation into possible manipulation of the Europe Interbank Offered Rate (Euribor), the Sueddeutsche Zeitung newspaper reported on Monday. A special probe is the most severe kind of investigation the regulator can launch against a bank. The German regulator is also investigating Portigon AG , Sueddeutsche Zeitung said, without citing sources. Portigon is what remains following the breakup of the bank that used to be known as WestLB. ... Full Story	Top
Toyota wins back world's top auto sales crown from GM  Sunday, Jan 27, 2013 09:31 PM PST TOKYO (Reuters) - Toyota Motor Corp regained the crown as the world's top selling automaker in 2012, posting record-high sales and beating rivals General Motors and Volkswagen . Toyota said on Monday it sold 9.75 million vehicles group-wide around the world last year, a record for the 75-year-old Japanese automaker and up 22.6 percent from a year ago. The result was in line with the company's December forecast, and put it back in the No. ... Full Story	Top
Honda 2012 global sales up 19 pct to 3.82 million vehicles  Sunday, Jan 27, 2013 09:31 PM PST TOKYO (Reuters) - Japan's Honda Motor Co sold a record 3.82 million vehicles globally in 2012, up 19 percent from 2011, the automaker said on Monday, as it recovered from natural disasters and saw sales grow in the United States, its biggest market. Honda is Japan's third-biggest carmaker. (Reporting by Yoko Kubota; Editing by Richard Pullin) Full Story	Top
Brent hovers above $113 ahead of US Fed meeting  Sunday, Jan 27, 2013 09:21 PM PST SINGAPORE (Reuters) - Brent crude held steady above $113 per barrel on Monday ahead of a U.S. Federal Reserve policy meeting and key employment data due later this week that will be scoured for further signs of recovery in the world's biggest oil consumer. The Fed, whose policy-setting Federal Open Market Committee concludes a two-day meeting on Wednesday, said just last month that it expects to keep short-term interest rates exceptionally low until the unemployment rate falls to 6.5 percent, inflation permitting. ... Full Story	Top
Nissan sells record 4.9 million vehicles globally in 2012  Sunday, Jan 27, 2013 08:48 PM PST TOKYO (Reuters) - Nissan Motor Co sold a record 4.94 million vehicles globally in 2012, up 5.8 percent from a year ago, Japan's second biggest automaker said on Monday. In 2011, Nissan sold 4.67 million vehicles globally. (Reporting by Yoko Kubota; Editing by Mayumi Negishi) Full Story	Top
Analysis: In Davos, world seeks U.S. engagement  Sunday, Jan 27, 2013 05:41 PM PST DAVOS, Switzerland (Reuters) - As President Barack Obama starts his second term, the world's business and political elite pines for greater American engagement to tackle a thicket of security challenges. From Syria to Mali, from Iran to the South China Sea, the United States' reluctance to be drawn into conflicts far from its shores was a leitmotiv of geopolitical debate at this year's World Economic Forum in Davos. ... Full Story	Top
Two Bumi directors say not supportive of Rothschild's plans: FT  Sunday, Jan 27, 2013 05:40 PM PST LONDON (Reuters) - Two directors of Bumi Plc whom Nat Rothschild proposed keeping on the board of the Indonesia-focused coal miner said they do not support his plans to take back control of the company, The Financial Times reported. Speaking to the rest of the board last week, Steven Shapiro and Graham Hearne said they did not back Rothschild who requested a shareholder vote with the aim of replacing 12 of 14 directors at the London-listed company, reported the FT. ... Full Story	Top

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