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| CA-BUSINESS Summary Thursday, Apr 25, 2013 12:36 AM PDT Asian shares rise, weak U.S. data undermines dollar TOKYO (Reuters) - Asian shares rose on Thursday, with recovering commodities and views that a run of weak global economic data will encourage major central banks to keep or deepen their monetary stimulus improving risk sentiment, but weak data undermined the dollar. European stock markets were seen subdued, with financial spreadbetters predicting London's FTSE 100 , Paris's CAC-40 and Frankfurt's DAX would open narrowly mixed between a 0.1 percent rise and a 0.1 percent drop. ... Full Story | Top |
| Italy should ask for more room on deficit: OECD Thursday, Apr 25, 2013 12:36 AM PDT  MILAN (Reuters) - Italy is now in a position to ask the European Union to ease up on the country's deficit target, according to Pier Carlo Padoan, chief economist at the Organisation for Economic Cooperation and Development (OECD). With budget cuts blamed for a second straight year of recession in the euro zone, the EU's top economics official Olli Rehn indicated last weekend that more flexibility on tough economic targets was needed. ... Full Story | Top |
| Vodafone opens higher on report of Verizon's JV buyout plan Thursday, Apr 25, 2013 12:24 AM PDT LONDON (Reuters) - Shares in Vodafone rose 1.5 percent in early trade on Thursday after two sources said its joint venture partner in the United States, Verizon Communications, was working on a $100 billion bid to take full control of the asset. The two sources familiar with the situation said Verizon had hired advisers to prepare a possible cash and stock bid to buy out Vodafone's 45 percent stake in the highly successful business. Vodafone and Verizon declined to comment on the reports. ... Full Story | Top |
| Zimbabwe could tax mining sector to fund July elections Thursday, Apr 25, 2013 12:16 AM PDT  By Philip Baillie LONDON (Reuters) - Zimbabwe could introduce new taxes on its mining sector to help fund July elections instead of borrowing on the debt markets, Finance Minister Tendai Biti said on Wednesday. Zimbabwe, which is on the verge of bankruptcy, withdrew a request for U.N. election funding last week, saying the United Nations had tried to "interfere" in security matters and the media. "The fact of the matter is that Zimbabwe does not have the resources for funding the election," Biti said in a speech in London. The U.N. ... Full Story | Top |
| S. Africa's MTN says subscribers top 195 million Thursday, Apr 25, 2013 12:16 AM PDT  JOHANNESBURG (Reuters) - South Africa's MTN Group said on Thursday its subscribers increased by 3 percent in the first quarter of the year, bringing its customer base to 195.4 million people across Africa and the Middle East. MTN, Africa's largest telecom company, said in a trading upgrade that its revenue from data - an increasingly important part of its business - rose by 42 percent in the January-March quarter from a year earlier. ... Full Story | Top |
| Spain unemployment rate hits new record in first quarter Thursday, Apr 25, 2013 12:07 AM PDT  MADRID (Reuters) - Spain's unemployment rate rose to a new record of 27.2 percent in the first quarter of this year, with 6.2 million people out of work, data from the National Statistics Institute showed on Thursday. Unemployment stood at 26 percent in the last three months of 2012 while economists' polled by Reuters forecast the number of people out of work in Spain would rise by half a percentage point to 26.5 percent. (Reporting By Paul Day; Editing by Julien Toyer) Full Story | Top |
| South Africa's rand firms on gold recovery Thursday, Apr 25, 2013 12:00 AM PDT  JOHANNESBURG (Reuters) - South Africa's rand strengthened to its highest level against the dollar in more than a week on Thursday, supported by improving precious metal prices. The rand was at 9.1220 to the dollar at 0641 GMT, in line with its close in New York on Wednesday, after reaching a high of 9.0530 earlier in the session, which was its strongest since April 15. Gold rose to its highest level in more than a week on Thursday as IMF data showed that Russia and Turkey raised their gold reserves in March, helping the spot price for bullion recover from a two-year low reached last week. ... Full Story | Top |
| Asian shares rise, weak U.S. data undermines dollar Thursday, Apr 25, 2013 12:00 AM PDT  By Chikako Mogi TOKYO (Reuters) - Asian shares rose on Thursday, with recovering commodities and views that a run of weak global economic data will encourage major central banks to keep or deepen their monetary stimulus improving risk sentiment, but weak data undermined the dollar. European stock markets were seen subdued, with financial spreadbetters predicting London's FTSE 100 , Paris's CAC-40 and Frankfurt's DAX would open narrowly mixed between a 0.1 percent rise and a 0.1 percent drop. U.S. stock futures were up 0.1 percent, hinting at a calm Wall Street open. ... Full Story | Top |
| Gold rises to 1-week high, central bank purchases support Wednesday, Apr 24, 2013 11:53 PM PDT  By Lewa Pardomuan SINGAPORE (Reuters) - Gold climbed to its highest in more than a week on Thursday, boosted by prospects of more central bank buying after a recent steep sell-off in the precious metal, while a firmer euro also underpinned prices. Central bank purchases and surging physical demand helped gold bounce from a two-year trough around $1,321 an ounce hit last week, dealers said. But daily outflows from exchange-traded funds, reflecting sagging investor confidence, capped gains. ... Full Story | Top |
| Santander says Basel III core capital to be 12 percent at year-end Wednesday, Apr 24, 2013 11:29 PM PDT  MADRID (Reuters) - Santander, the euro zone's biggest lender, on Thursday said its core capital under Basel III rules would reach 12 percent at the end of the year. The bank, which posted a 25.9 percent drop in net profit from a year ago to 1.205 billion euros ($1.6 billion), also said it had already returned 31 billion euros of cheap European Central Bank loans, out of an estimated 35 billion euros it took. (Reporting by Sarah White, editing by Julien Toyer) Full Story | Top |
| Brent climbs above $102, hits 10-day peak on US demand hopes Wednesday, Apr 24, 2013 11:10 PM PDT By Jessica Jaganathan SINGAPORE (Reuters) - Brent crude rose to a more than one-week high above $102 a barrel on Thursday after a sharp drop in U.S. gasoline stocks, while hopes demand will pick up ahead of the summer driving season in the world's top oil consumer also supported prices. Expectations that the European Central Bank will lower interest rates soon, a move that would support demand for commodities from the euro zone, further underpinned oil prices. Brent crude rose for a fifth session out of six and was up 47 cents at $102.20 a barrel by 0315 GMT. It hit $102. ... Full Story | Top |
| Rwanda suggests 6.875-7 pct yield for Eurobond: IFR Wednesday, Apr 24, 2013 11:10 PM PDT JOHANNESBURG (Reuters) - Rwanda set initial price guidance for its debut $400 million Eurobond that indicates a 6.875-7 percent yield, according to IFR, a Thomson Reuters news and market analysis service. With major central banks pumping out cheap liquidity, some developed economies are able to sell their debt at negative yields and that should ensure a keen appetite for the returns Rwanda's bond is likely to offer. The east African nation had earlier issued initial guidance of a "low 7 percent. ... Full Story | Top |
| Norway wealth fund mulls selling oil firms that work in E.Guinea Wednesday, Apr 24, 2013 11:06 PM PDT  By Gwladys Fouche OSLO (Reuters) - Norway's sovereign wealth fund is looking into selling off shares in oil firms that work in Equatorial Guinea, where oil revenue does nothing to relieve abject poverty, the fund's ethics council said, a list that includes Exxon Mobil. The Norwegian Pension Fund Global was Exxon Mobil's tenth-largest shareholder at end-2012 with some 16 billion crowns worth of shares, or a stake of 0.81 percent. The fund, whose investments totalled $725 billion on Wednesday, invests Norway's revenues from oil and gas production for future generations. ... Full Story | Top |
| US-INDUSTRY Summary Wednesday, Apr 24, 2013 09:26 PM PDT Analysis: Truth and consequences - a dilemma for Twitter and its users SAN FRANCISCO (Reuters) - Does Twitter have a credibility problem? For many, a single fake tweet from the Associated Press account that briefly roiled financial markets on Tuesday, driving the Dow Jones industrial average down about 145 points, vividly reaffirmed the fearsome, near-instantaneous power of the 140-character message. ... Full Story | Top |
| Analysis: Truth and consequences - a dilemma for Twitter and its users Wednesday, Apr 24, 2013 09:25 PM PDT  By Gerry Shih SAN FRANCISCO (Reuters) - Does Twitter have a credibility problem? For many, a single fake tweet from the Associated Press account that briefly roiled financial markets on Tuesday, driving the Dow Jones industrial average down about 145 points, vividly reaffirmed the fearsome, near-instantaneous power of the 140-character message. But the security lapse also revived doubts about Twitter's place in the media landscape - and its ultimate value - at a moment when its status as one of today's essential information networks had seemed all but cemented. ... Full Story | Top |
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