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| CA-BUSINESS Summary Friday, Apr 26, 2013 12:19 AM PDT TSX clocks sixth day of gains on U.S. data, Potash results TORONTO (Reuters) - Canada's main stock index advanced for a sixth straight session on Thursday, helped by resources sectors as U.S. economic data and a stronger-than-expected earnings performance from fertilizer producer Potash Corp buoyed sentiment. Investors were encouraged by data showing the number of Americans filing new claims for unemployment benefits fell last week, offering reassurance that the bottom is not falling out of the U.S. labor market. ... Full Story | Top |
| BOJ projects to meet CPI target by 2015/16, analysts have doubts Friday, Apr 26, 2013 12:19 AM PDT  By Leika Kihara and Stanley White TOKYO (Reuters) - The Bank of Japan forecast on Friday that inflation will rise to around 2 percent towards the latter half of the next three years due to its massive stimulus plan, a projection analysts say may be too optimistic. In a reminder of the task ahead, data on Friday showed core consumer prices marked their fifth straight month of annual declines in March even as the yen's recent falls pushed up import costs. ... Full Story | Top |
| Amazon's success formula: move bits instead of boxes Friday, Apr 26, 2013 12:17 AM PDT  By Alistair Barr and Ben Berkowitz SAN FRANCISCO/NEW YORK (Reuters) - Amazon.com Inc appears to have figured out the secret to being more profitable: sell less physical stuff. The company reported slowing revenue growth and offered a disappointing outlook for this quarter on Thursday, exacerbating uncertainty about the health of its business beyond the United States. But that may be masking a fundamental shift in its business on home turf. ... Full Story | Top |
| Japan to craft growth strategy, fiscal plan before G8: Suga Friday, Apr 26, 2013 12:05 AM PDT TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe has instructed his cabinet to compile the government's growth strategy and long-term fiscal reform plan before the Group of 8 summit in mid-June, the top government spokesman said on Friday. Chief Cabinet Secretary Yoshihide Suga made the comment at a news conference after a cabinet meeting. (Reporting by Leika Kihara; Editing by Chris Gallagher) Full Story | Top |
| Euro zone sees light at end of tunnel, pitfalls remain Friday, Apr 26, 2013 12:04 AM PDT By John O'Donnell BRUSSELS (Reuters) - There are no calls for celebration, no desire to relax in the corridors of Brussels but some officials believe the euro zone has turned a corner, sharpening the focus on longer-term reforms and structures. Despite a messy bailout of Cyprus, markets are calm, Ireland's rescue programme is on track and Greece and Portugal, while still in recession, hope for a slow recovery next year. Slovenia's banks are a concern, but one that policymakers are confident they can deal with. ... Full Story | Top |
| S.Africa rand steady vs dollar, commodity prices should support Friday, Apr 26, 2013 12:02 AM PDT  JOHANNESBURG (Reuters) - South Africa's rand steadied against the dollar in early Friday trade, with dealers expecting higher commodity prices to support the currency in the lower end of a recent 9.05-9.15 range. The rand was at 9.09 to the dollar at 0644 GMT, slightly firmer, but not far off, its close in New York on Thursday. "The rand continues to do very well in what is only a mildly encouraging environment. The trend is for gains but don't get carried away," said Rand Merchant Bank's John Cairns in a note to clients. ... Full Story | Top |
| US-INDUSTRY Summary Thursday, Apr 25, 2013 11:51 PM PDT Time Warner Cable shifts away from "triple play" (Reuters) - Time Warner Cable Inc, the second-largest U.S. cable provider, will no longer aggressively push "triple play" packages of Internet, video and voice on its customers, moving away from the long-held industry practice of bundling the services together. Time Warner Cable is the first cable company in the U.S. to acknowledge that customers would prefer to only pay for television and Internet, as demand for landline service has been declining steadily with many people only using cellphones, even at home. ... Full Story | Top |
| Hyundai Motor suicide ad draws ire for South Korean company Thursday, Apr 25, 2013 11:50 PM PDT  By Hyunjoo Jin SEOUL (Reuters) - South Korean automaker Hyundai Motor Co has been forced to apologies for an advertisement that sought to promote the zero carbon emissions of one of its cars by featuring a man failing to commit suicide using a hose attached to the exhaust. The ad debacle is the latest to hit the carmaker, the world's fifth largest by sales when combined with its Kia Motors affiliate, after it exaggerated fuel performance figures in the United States, and announced a large-scale vehicle recall this month. ... Full Story | Top |
| Brent slips to $103, narrows spread with WTI Thursday, Apr 25, 2013 11:42 PM PDT By Florence Tan SINGAPORE (Reuters) - Brent crude eased to $103 a barrel on Friday after rising $3 in the past two sessions, with investors cautious over the tepid outlook for growth in the world's two largest oil consumers, the United States and China. Brent is set for its biggest weekly gain since November, but is still 7 percent off levels at the start of April after a string of disappointing data stoked fears of global economic slowdown. Brent had slipped 41 cents to $103.00 a barrel by 0414 GMT, after touching a low of $102.89, while U.S. crude for June delivery stood at $92. ... Full Story | Top |
| Gold up more than 1 pct, heads for best week in 1-1/2 years Thursday, Apr 25, 2013 11:41 PM PDT  By Lewa Pardomuan SINGAPORE (Reuters) - Gold was headed for its biggest weekly gain in one-and-a-half years after rising more than 1 percent on Friday as a mid-month plunge in prices triggered bargain-hunting and a surge in physical buying across Asia. Bullion still attracted buying even though the price had rebounded more than $100 since falling to a two-year trough of around $1,321 last week, with dealers reporting a shortage in gold bars, coins, nuggets and other products. Gold was up $7.30 an ounce at $1,474.29 by 0408 GMT, off an initial high of $1,484.81, its strongest since April 15. ... Full Story | Top |
| Asian shares rise on US data, regional earnings eyed Thursday, Apr 25, 2013 11:40 PM PDT  By Chikako Mogi TOKYO (Reuters) - Asian shares rose on Friday, tracking global equities higher after an upbeat U.S. labour market report, while the dollar eased on caution ahead of first quarter growth data from the world's biggest economy. European stock markets were seen falling, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX would open down as much as 0.5 percent. U.S. stock futures were down 0.2 percent, also hinting at a soft Wall street open. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0. ... Full Story | Top |
| Insight: Failure of Spain's Pescanova lifts lid on culture of secrecy Thursday, Apr 25, 2013 11:23 PM PDT  By Tracy Rucinski and Carlos Ruano VIGO, Spain (Reuters) - Even in a record year for Spanish bankruptcies, the filing by Pescanova, a household local name that farms, catches and processes fish, stands out not just for scale, but for the opaque culture and boardroom dysfunction it has revealed. The April 15 insolvency filing mentions debts of 1.5 billion euros ($2 billion), but financial sources who have had dealings with the company say total debt is probably more than double that amount, potentially making it the country's third-largest bankruptcy. ... Full Story | Top |
| Asian shares rise on U.S. data, regional earnings eyed Thursday, Apr 25, 2013 11:14 PM PDT  By Chikako Mogi TOKYO (Reuters) - Asian shares rose on Friday, tracking global equities higher after an upbeat U.S. labor market report, while the dollar eased on caution ahead of first quarter growth data from the world's biggest economy. European stock markets were seen falling, with financial spreadbetters predicting London's FTSE 100 , Paris's CAC-40 and Frankfurt's DAX would open down as much as 0.5 percent. U.S. stock futures were down 0.2 percent, also hinting at a soft Wall street open. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0. ... Full Story | Top |
| Total finds Ivory Coast oil next to Ghana's Jubilee Thursday, Apr 25, 2013 11:01 PM PDT  By Joe Bavier ABIDJAN (Reuters) - France's Total has struck oil on a block off Ivory Coast adjacent to Ghana's giant Jubilee oil and gas field, the company said on Thursday. Oil exploration in Africa's Gulf of Guinea has risen sharply since Ghana discovered Jubilee in 2007 and brought it into production in record time in late 2010. The field holds around 2 billion barrels of oil reserves and another 1.2 trillion cubic feet of natural gas. Total said it discovered oil in the western part of the CI-100 block, which it acquired in 2010. ... Full Story | Top |
| Rwanda c.bank sees inflation climbing, rates steady Thursday, Apr 25, 2013 10:49 PM PDT  NAIROBI (Reuters) - Rwanda's central bank governor said on Thursday inflation was expected to climb to 7.5 percent by the end of 2013 but interest rates would hold steady if price rises stayed in single digits. Governor John Rwangombwa also told Reuters a heavily oversubscribed $400 million Eurobond showed his nation could now look beyond concessional lenders, which have been a main source of financing, and Rwanda could return to international markets to fund projects that earned foreign exchange. Full Story | Top |
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