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| JAL wants to discuss 787 grounding compensation with Boeing Sunday, Feb 03, 2013 11:47 PM PST  TOKYO (Reuters) - Japan Airlines Co Ltd said it will talk to Boeing Co about compensation for the grounding of the 787 Dreamliner, adding that the idling of its jets would cost it nearly $8 million from its earnings through to the end of March. The carrier, which operates seven of the 50 Dreamliners in service around the world, said robust demand on European, North American and Southeast Asian routes would help offset the impact of the 787's grounding, and it increased its annual operating profit forecast by almost 13 percent. ... Full Story | Top |
| JAL says 787 should stay at centre of fleet strategy Sunday, Feb 03, 2013 11:47 PM PST TOKYO (Reuters) - Japan Airlines Co Ltd President Yoshihiro Ueki said on Monday that Boeing's 787 Dreamliner, which has been grounded worldwide after two battery incidents, should stay at the centre of its fleet strategy. "It's a shame about the battery, but it is a wonderful aircraft," Ueki said. (Reporting by Tim Kelly; Editing by Michael Urquhart) Full Story | Top |
| HTC sees Q1 revenue flat to 17 percent lower versus Q4 Sunday, Feb 03, 2013 11:31 PM PST  TAIPEI (Reuters) - Taiwanese smartphone maker HTC Corp expects revenue to be flat to 17 percent lower in the first quarter compared with the previous three months, worse than forecast, while margins are also seen holding steady or shrinking. The former contract manufacturer's fortunes have been declining sharply since the second half of 2011, as the growing dominance of Apple Inc's iPhone and Samsung Electronics Co Ltd's Galaxy range quickly deflated the success of its own brand's rapid rise. HTC said on Monday that it expects first-quarter revenue of T$50 billion to T$60 billion ($1.69-2. ... Full Story | Top |
| S.Africa's rand set to firm for fifth day straight Sunday, Feb 03, 2013 10:59 PM PST JOHANNESBURG (Reuters) - The rand steadied against the dollar early on Monday, looking to strengthen for the fifth straight session due to a technical correction that has left many investors trying to cover short rand positions. South Africa's currency was at 8.8547 to the dollar at 0626 GMT, slightly firmer than its New York close on Friday and gathering momentum away from a four-year low of 9.16 rand hit last month. The rand managed to break past 8.85 resistance in late trade on Friday, signalling that further gains were likely this session. "Our range for today is 8.79-8. ... Full Story | Top |
| Japan's Hitachi cuts full-year operating profit forecast Sunday, Feb 03, 2013 10:55 PM PST  TOKYO (Reuters) - Japan's Hitachi Ltd cut its full-year profit outlook by about 13 percent on Monday to 420 billion yen ($4.5 billion), citing a weak economic recovery in Europe and a slowdown in emerging markets. The sprawling firm, which is cutting costs and trying to push into growth areas such as infrastructure, posted a 28 percent fall in its third-quarter operating profit, well below market forecasts for a small rise. ... Full Story | Top |
| Amplats earnings bleed, review in the balance Sunday, Feb 03, 2013 10:52 PM PST  JOHANNESBURG (Reuters) - Anglo American Platinum, the world's largest producer of the precious metal, swung to a hefty full year loss, demonstrating the depth of the crisis at its South African operations. The platinum miner, which is 80 percent-owned by resources giant Anglo American, plans to lay off up to 14,000 people as it closes two mines and sells another in a last-ditch attempt to return to profitability. The company posted a headline loss per share of 562 cents a share on Monday for the year to end-December, way off the profit of 1,365 cents reported in the previous year. ... Full Story | Top |
| Swatch optimistic for 2013 after strong January Sunday, Feb 03, 2013 10:35 PM PST  ZURICH (Reuters) - Swatch Group SA , the world's biggest watchmaker, said it continued to see healthy growth potential for the Swiss watch industry and its own business after a good start to 2013. "The signals from the markets around the world clearly indicate continued healthy growth potential for the Swiss watch industry and the Swatch Group," the company said in a statement on Monday. The maker of Omega and Tissot watches unexpectedly released full-year results, which showed net income rising 26 percent to 1.61 billion Swiss francs ($1.78 billion), ahead of expectations in a Reuters poll. ... Full Story | Top |
| Asian shares advance after U.S. jobs, ISM Sunday, Feb 03, 2013 10:32 PM PST  TOKYO (Reuters) - Asian shares climbed to 18-month highs on Monday after U.S. data showed some promise of a credible recovery but not strong enough to threaten the Federal Reserve's easing plans, while momentum also gained on firmer manufacturing data from Europe and China. The yen took a break from heavy selling against the U.S. dollar and the euro, but fell to its lowest since August 2008 against the Australian and New Zealand dollars early on Monday on confidence of bold monetary support from the Bank of Japan to overcome the country's stubborn deflation. ... Full Story | Top |
| Analysis: New miner wants in on the chummy global potash club Sunday, Feb 03, 2013 10:30 PM PST  NEW YORK (Reuters) - Potash miner Prospect Global Resources Inc won't open its first mine until at least 2015, but the American upstart is already upsetting the multibillion-dollar fertilizer industry where a few players control a crucial ingredient in the global food chain. China, with an insatiable appetite for fertilizer to help feed its growing population, has long been dependent on Canpotex, the Canadian sales agency that supplies a third of the world's potash. ... Full Story | Top |
| Insight: Electric cars head toward another dead end Sunday, Feb 03, 2013 10:13 PM PST  TOKYO/DETROIT (Reuters) - Are electric cars running out of juice again? Recent moves by Japan's two largest automakers suggest that the electric car, after more than 100 years of development and several brief revivals, still is not ready for prime time - and may never be. In the meantime, the attention of automotive executives in Asia, Europe and North America is beginning to swing toward an unusual but promising new alternate power source: hydrogen. The reality is that consumers continue to show little interest in electric vehicles, or EVs, which dominated U.S. ... Full Story | Top |
| S.Africa's Harmony Gold earnings weather strike storm Sunday, Feb 03, 2013 09:57 PM PST  JOHANNESBURG (Reuters) - Harmony Gold, South Africa's third largest gold producer, said its second quarter earnings were higher despite a 9 percent fall in output after post-strike violence at one of its biggest South African mines forced it to halt the operation. Headline earnings were 28 percent higher at 158 cents per share for the three months October to December, which beat the Reuters consensus of 102 cents. The main measure of profit in South Africa, headline earnings strip out certain one-time items. An interim dividend of 50 cents per share has been declared. ... Full Story | Top |
| Chrysler, Oreo score with ads during delayed Super Bowl Sunday, Feb 03, 2013 09:17 PM PST (Reuters) - Chrysler's Jeep ad featuring a patriotic salute to U.S. troops and narration by Oprah Winfrey, an Oreo ad asking viewers to vote cookie or crème, and a scantily clad male Calvin Klein model were among standout commercials during a Super Bowl that suffered a half-hour partial blackout delay on Sunday. Ads by Budweiser and PepsiCo's Doritos were less engaging, according to advertising experts, in the game that is annually the largest showcase for U.S. consumers with more than 100 million viewers. ... Full Story | Top |
| Analysis: Small lenders ride U.S. mortgage wave as big banks cut back Sunday, Feb 03, 2013 09:08 PM PST (Reuters) - Guaranteed Rate, Inc, a home loan company, opened shop in 2000 in Chicago with a single office. Now it is one of the 20 biggest U.S. mortgage lenders, with more than 140 offices. Most of that growth has come in the last two years and Chief Executive Victor Ciardelli said in an interview he is not planning to slow down. "We've hired over a thousand people over the last year and we're trying to hire a ton more," Ciardelli said. ... Full Story | Top |
| Niger wants to renegotiate Areva partnership terms Sunday, Feb 03, 2013 09:08 PM PST  PARIS (Reuters) - Niger wants to renegotiate the terms of its uranium mining partnership with French nuclear group Areva and is looking for other partner countries, its president told French channel TV5 Monde on Sunday. Mahamadou Issoufou said in an interview that the uranium deal with Areva generates just 100 million euros a year for Niger and that he wanted a fairer deal for the dirt-poor African country. "This represents just 5 percent of our budget, it's not acceptable. That's why I have asked to re-equilibrate the terms of the deal between Areva and Niger," he said. ... Full Story | Top |
| Brent steadies above $116 on economy hopes, Middle East worries Sunday, Feb 03, 2013 09:03 PM PST  SINGAPORE (Reuters) - Brent crude steadied above $116 per barrel on Monday, holding near a more than four-month high, as data from top consumers United States and China reinforced a view that the global economy was headed for a modest uptick this year. Positive U.S. employment numbers and confirmation of a mild recovery in China, evidenced by purchasing manager surveys, allayed some concerns about weak fuel demand from the world's two biggest oil users. "We are now seeing a consistent story of moderate growth in the U.S. ... Full Story | Top |
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