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| U.S. asks Liechtenstein for data in Swiss banking probe Wednesday, Mar 27, 2013 12:48 AM PDT ZURICH (Reuters) - U.S. prosecutors are asking Liechtenstein to hand over data on foundations and other financial vehicles as part of their investigation into tax evasion by wealthy Americans, the principality's international tax office said on Wednesday. Swiss newspapers Tages-Anzeiger and Neue Zuercher Zeitung earlier reported the tiny alpine principality had been given until Friday to hand over "statistical" data on American clients of Swiss banks with links in Liechtenstein. ... Full Story | Top |
| EADS says Spain may sell 1.15 percent of group as cuts stake Wednesday, Mar 27, 2013 12:30 AM PDT  AMSTERDAM (Reuters) - Spain plans to sell 1.15 percent of EADS as the aerospace company switches to a new corporate structure, EADS said on Wednesday. Spain, which owns more than 5 percent of the Airbus parent company, had been expected to keep a core stake of 4 percent and place the rest in a special foundation set up to handle surplus government stakes in order to keep EADS within Dutch takeover rules. EADS said in a statement that the parties to the agreement, which include France and Germany, had agreed an amendment allowing Spain to sell 1.15 percent by April 9. ... Full Story | Top |
| CA-BUSINESS Summary Wednesday, Mar 27, 2013 12:23 AM PDT Asian shares gain as U.S. data builds optimism TOKYO (Reuters) - Asian shares rose on Wednesday, comforted by positive U.S. data pointing to a moderate recovery in the economy, but worries over the implications of the Cyprus bank bailout deal, and the losses it imposed on investors, weighed on the euro. European markets were seen adding small gains, with financial spreadbetters predicting London's FTSE 100 , Paris's CAC-40 and Frankfurt's DAX likely to open around 0.3 percent higher. Benchmark indices in Spain and Italy were seen likely to open 0.1 percent and 0.2 percent higher. ... Full Story | Top |
| Credit Suisse buys Morgan Stanley's European private bank Wednesday, Mar 27, 2013 12:23 AM PDT  ZURICH (Reuters) - Credit Suisse said on Wednesday it would buy Morgan Stanley's wealth management arm in Europe, the Middle East and Africa, with total assets under management of $13 billion. "The acquisition will add scale to the bank's core growth markets in EMEA including the UK, Italy, Nordics, Russia and the Middle East," Credit Suisse said in a statement. Details of the deal - one of Credit Suisse's first notable acquisitions since it bought out the remainder of Brazilian investment fund Hedging-Griffo in 2011 - were not disclosed. ... Full Story | Top |
| Brent steady above $109, robust US data supports Wednesday, Mar 27, 2013 12:22 AM PDT  By Jessica Jaganathan SINGAPORE (Reuters) - Brent held steady above $109 a barrel on Wednesday after robust U.S. data brightened the outlook for demand from the world's biggest oil consumer, but festering worries over the euro zone continued to drag. Orders for U.S.-made durable goods surged last month and home prices posted their biggest year-on-year gain in six and a half years in January, suggesting that the U.S. economy regained momentum early in the first quarter. ... Full Story | Top |
| Gold headed for 4th day of fall as upbeat US data dents appeal Wednesday, Mar 27, 2013 12:20 AM PDT  By Rujun Shen SINGAPORE (Reuters) - Gold inched lower on Wednesday in its fourth day in the red, as promising U.S. data curbed safe-haven demand, while worries about the euro zone's fiscal health after Cyprus' unprecedented rescue deal continued to support the precious metal. Orders for long-lasting U.S.-made goods surged last month and home prices posted their biggest year-on-year gain in six-and-a-half years in January, the latest signs the U.S. economy regained momentum early in the first quarter. Upbeat U.S. ... Full Story | Top |
| Asian shares gain as US data builds optimism Wednesday, Mar 27, 2013 12:18 AM PDT  By Chikako Mogi TOKYO (Reuters) - Asian shares rose on Wednesday, comforted by positive U.S. data pointing to a moderate recovery in the economy, but worries over the implications of the Cyprus bank bailout deal, and the losses it imposed on investors, weighed on the euro. European markets were seen adding small gains, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX likely to open around 0.3 percent higher. Benchmark indices in Spain and Italy were seen likely to open 0.1 percent and 0.2 percent higher. U.S. stock futures were up 0. ... Full Story | Top |
| S.Africa's rand weaker as euro zone fears linger Wednesday, Mar 27, 2013 12:08 AM PDT  JOHANNESBURG (Reuters) - South Africa's rand softened against the dollar on Wednesday, weakened by concerns about the financial stability of its main trading partner Europe after the Cyprus bailout deal. The rand traded at 9.278 against the dollar at 0642 GMT, about 0.41 percent weaker than Wednesday's 9.2425 close in New York. "The euro is really struggling to maintain any sort of headway at the moment, the comments that keep coming out of Europe are not good," said Ion de Vleeschauwer, chief dealer at Bidvest Bank in Johannesburg. ... Full Story | Top |
| S.Afica, China's Chery reach multibillion dollar port, ship deal Wednesday, Mar 27, 2013 12:07 AM PDT  DURBAN, South Africa (Reuters) - South Africa has reached a deal valued at several billion dollars to build and repair ships at its Richards Bay port with China's Chery Holdings, affiliated with the automaker, according to documents obtained by Reuters on Wednesday. The final terms of the deal were being worked out at a meeting of the leaders of the BRICS emerging market powers in the South African coastal city of Durban, a senior South African government official said. ... Full Story | Top |
| Asian shares gain as U.S. data builds optimism Tuesday, Mar 26, 2013 11:32 PM PDT  By Chikako Mogi TOKYO (Reuters) - Asian shares rose on Wednesday, comforted by positive U.S. data pointing to a moderate recovery in the economy, but worries over the implications of the Cyprus bank bailout deal, and the losses it imposed on investors, weighed on the euro. European markets were seen adding small gains, with financial spreadbetters predicting London's FTSE 100 , Paris's CAC-40 and Frankfurt's DAX likely to open around 0.3 percent higher. Benchmark indices in Spain and Italy were seen likely to open 0.1 percent and 0.2 percent higher. U.S. stock futures were up 0. ... Full Story | Top |
| Brazil's HRT drills first Namibia well, expects major finds Tuesday, Mar 26, 2013 11:27 PM PDT By Jeb Blount RIO DE JANEIRO (Reuters) - Brazil's HRT Participações em Petroleo SA and Portuguese partner GALP Energia SGPS SA began drilling their first well off Namibia's coast this week, upping a bet that the frontier area will yield discoveries akin to the giant fields offshore from Brazil. "The geology of this area is very similar to Angola and the Campos Basin of Brazil, said Wagner Pires, chief executive of HRT Americas, a Houston-based subsidiary of Rio de Janeiro's HRT that is operating the Namibia exploration campaign. ... Full Story | Top |
| Cameroon robusta coffee exports hit 1,038 T by end February Tuesday, Mar 26, 2013 11:26 PM PDT YAOUNDE (Reuters) - Cameroon robusta coffee exports hit 1,038 tonnes by the end of February since the start of the season in December, down from 1,536 tonnes during the same period last year, according to figures from the National Cocoa and Coffee Board on Monday. The central African state shipped 390 tonnes of robusta in February alone, up from 19 tonnes in January, according to the figures. No arabica was exported during either month. During the 2011-12 season, Cameroon exported a total of 234,072 tonnes of robusta and 2,958 tonnes of arabica, according to NCCB figures. Full Story | Top |
| Deal on development bank eludes BRICS nations at summit Tuesday, Mar 26, 2013 11:14 PM PDT  By Agnieszka Flak and Marina Lopes DURBAN, South Africa (Reuters) - BRICS nations failed on Tuesday to resolve differences over funding for and the location of a proposed joint development bank, indicating the emerging powers group would not achieve the goal at a summit in South Africa. Agreeing on the share of funding contributions for the BRICS bank from each of the members - Brazil, Russia, India, China and South Africa - had already been a thorny issue for a group which brings together vastly disparate economies and governments. ... Full Story | Top |
| Kenya's top coffee price rises for third straight week Tuesday, Mar 26, 2013 11:12 PM PDT  NAIROBI (Reuters) - The maximum price of Kenya's benchmark grade AA coffee rose for the third week in a row to $502 per bag at auction from $458 at the previous sale, the Nairobi Coffee Exchange said. Although the East African nation is a small producer compared with others like Brazil, its specialty beans are sought after by global roasters who blend them with coffee from other regions. Some 24,781 bags of coffee were offered for sale during the auction and only 10,258 bags found buyers. During last week's auction, 22,774 bags of coffee were offered and 5,583 bags were sold. ... Full Story | Top |
| Toyota to sell in 2015 vehicles built through parts-sharing Tuesday, Mar 26, 2013 10:42 PM PDT  TOYOTA, Japan (Reuters) - Toyota Motor Corp will start selling in 2015 the first vehicles built under its parts-sharing and platform framework, the company said on Wednesday, as rivals led by Volkswagen pursue similar strategies to cut costs. The framework, called the Toyota New Global Architecture (TNGA), shares parts among vehicles using the same platform in order to save costs and manpower. Initially, vehicles will share 20-30 percent of parts, a ratio Toyota wants to eventually expand to 70-80 percent, Executive Vice President Mitsuhisa Kato said. ... Full Story | Top |
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