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| Apple joins other foreign brands in raising prices in Japan Friday, May 31, 2013 12:27 AM PDT  TOKYO (Reuters) - Apple Inc hiked prices of iPads and iPods in Japan on Friday, becoming the latest and highest-profile brand to join a growing list of foreign firms asking Japanese consumers to pay more as a weakening yen squeezes income. The yen has fallen more than 20 percent against the U.S. dollar since mid-November when then-opposition leader Shinzo Abe prescribed a dose of radical monetary easing to reverse years of sliding consumer prices as part of a deflation-fighting policy, dubbed "Abenomics. ... Full Story | Top |
| Australia investigating Volkswagen safety after driver death Friday, May 31, 2013 12:41 AM PDT  SYDNEY (Reuters) - The Australian government is investigating reports of power loss problems in cars manufactured by Volkswagen AG , amid an inquiry into the death of a woman killed when her Volkswagen Golf was hit by a truck in 2011. The probe comes just weeks after the German carmaker recalled about 91,000 vehicles in Japan because of potential gearbox problems that could cause cars to speed up or slow down during driving. ... Full Story | Top |
| S.Africa's shares hit new record highs, up 0.5 pct at open Friday, May 31, 2013 12:13 AM PDT JOHANNESBURG (Reuters) - South African stocks hit a record high soon after the start of trade on Friday, rising more than 0.5 percent as a tumbling rand lifted exporters such as Impala Platinum. The broader All-share was at 42,207.85 at 0711 GMT while the blue-chip Top-40 index was at 37,801.50. Full Story | Top |
| Smiths Group confirms approach for medical unit Friday, May 31, 2013 12:13 AM PDT LONDON (Reuters) - British engineering company Smiths Group said on Friday it had received an approach for its medical division, which sources have said could be worth more than 2 billion pounds. The company confirmed in a statement that it was in early stage talks about a disposal following reports on Thursday that it had begun investigating a sale after an approach from U.S. healthcare group CareFusion. Smiths Medical, which contributed 35 percent of the company's operating profit last year, supplies equipment to hospitals and emergency services. ... Full Story | Top |
| S.Africa's rand falls further, trade data eyed Friday, May 31, 2013 12:13 AM PDT  JOHANNESBURG (Reuters) - South Africa's rand extended its decline to reach its lowest level since March 2009 on Friday and was on track for one of its worst falls since the end of apartheid in 1994. The rand was at 10.0825 to the dollar at 0549 GMT on Friday, down 0.4 percent from its close in New York. It breached the psychologically key level of 10.0 to the dollar on Thursday after a speech by President Jacob Zuma intended to allay concerns about labour unrest disappointed investors. ... Full Story | Top |
| TUI Travel to buy 60 new Boeing aircraft worth $6 billion Friday, May 31, 2013 12:08 AM PDT  LONDON (Reuters) - British travel firm TUI Travel has agreed a deal to buy 60 of Boeing's 737 MAX jets with an option to buy a further 90 more of the fuel-efficient aircraft. TUI Travel, which operates Britain's Thomson Airways, said on Friday the initial deal for 60 planes, powered by CFM International's LEAP-1B engines, had been secured at a "significant discount to the list price" of $6.09 billion. ... Full Story | Top |
| S.Africa's SacOil asks to halt bourse trading after directors resign Thursday, May 30, 2013 11:58 PM PDT JOHANNESBURG (Reuters) - South Africa's SacOil said on Friday it had applied to halt trading in its shares on London's AIM and the Johannesburg Stock Exchange after three of its directors stepped down. The executives, including the chief executive, resigned after shareholders voted against their recommendation to convert loans into equity. The company has asked to suspend trading until new directors are in place. Full Story | Top |
| Ethiopia to sign mobile network deals with ZTE, Huawei Thursday, May 30, 2013 11:37 PM PDT  By Aaron Maasho ADDIS ABABA (Reuters) - Ethiopia will sign agreements with China's ZTE Corp and Huawei Technologies Co Ltd in a "few weeks" to expand its mobile phone infrastructure and double subscribers to 40 million, a senior Ethiopian official said on Thursday. ZTE Corp, China's second-largest telecoms equipment maker, has already been involved in developing phone and internet services in the Horn of Africa nation for several years. ... Full Story | Top |
| Megaupload founder wins access to evidence seized in raid Thursday, May 30, 2013 11:34 PM PDT  WELLINGTON (Reuters) - A New Zealand court granted Megaupload founder Kim Dotcom access on Friday to all evidence seized by police in a 2012 raid, bolstering the Internet entrepreneur's fight against extradition to the United States to face online piracy charges. Repeating its decision that warrants used in the raid on Dotcom's home were illegal, the High Court ruled that police must provide copies of evidence considered relevant to the U.S. investigation. These include materials forwarded to the Federal Bureau of Investigation. ... Full Story | Top |
| African infrastructure fund "could reach $50 bln" Thursday, May 30, 2013 11:25 PM PDT  MARRAKESH, Morocco (Reuters) - The African Development Bank (AfDB) said on Thursday the fund it hopes to create to finance infrastructure investment on the continent could be as big as $50 billion. "The Bank has explained its plan to build the continent's infrastructures and we estimate the potential to $50 billion," chief economist and vice-president of the bank Mthuli Ncube told Reuters, on the margin of the bank's annual assembly in Marrakesh this week. "The governors have been keen and are considering how to accelerate the process, but there is no calendar for the project. ... Full Story | Top |
| Tanzania signs port deal with China Merchants Holdings Thursday, May 30, 2013 11:25 PM PDT  DAR ES SALAAM (Reuters) - Tanzania has signed a framework agreement with China Merchants Holdings (International) Co Ltd for the construction of a new port, special economic zone and railway network that could involve more than $10 billion, the government said. One senior official said talks with the Chinese government were under way on financing of the project. The government has said construction of the port in Bagamoyo some 75 km north of the commercial capital, Dar es Salaam would relieve pressure on the Dar es Salaam port. ... Full Story | Top |
| Zimbabwe's Econet says full-year profit falls 16 pct Thursday, May 30, 2013 11:20 PM PDT HARARE (Reuters) - Zimbabwe's largest mobile telephony company, Econet Wireless, reported a 16 percent drop in full-year net profit, pulled lower by growing financing costs. Econet Wireless said net profit fell to $140 million in the year ended in February from $165.7 million a year earlier. Revenue grew 14 percent to $695 million. The company concluded a $307 million syndicated loan during the year that increased interest charges and ate into the company's profitability, Chief Executive Douglas Mboweni told reporters. ... Full Story | Top |
| Asian shares, dollar pressured as Nikkei outperforms Thursday, May 30, 2013 11:06 PM PDT  By Chikako Mogi TOKYO (Reuters) - Asian shares and the dollar stayed pressured while Japanese equities outperformed on Friday, and investors remained nervous over whether the U.S. Federal Reserve might soon taper off the stimulus program that has helped send Wall Street soaring. European stock markets are expected to edge higher, with financial spreadbetters predicting London's FTSE 100 , Paris's CAC-40 and Frankfurt's DAX to open up 0.2 percent higher. A 0.1 percent rise in U.S. stock futures pointed to a steady Wall Street open. ... Full Story | Top |
| Cyber threats pose 'stealthy, insidious' danger: defense chief Thursday, May 30, 2013 10:57 PM PDT  By David Alexander ABOARD A U.S. MILITARY AIRCRAFT (Reuters) - Defense Secretary Chuck Hagel said on Friday that cyber threats posed a "quiet, stealthy, insidious" danger to the United States and other nations, and called for "rules of the road" to guide behavior and avoid conflict on global computer networks. Hagel said he would address cyber security in his speech on Saturday to the Shangri-La Security Dialogue in Singapore and the issue was likely to come up in a brief meeting with Chinese delegates on the margins of the conference. ... Full Story | Top |
| South Korea's Samsung Techwin wins $537 million order from General Electric Thursday, May 30, 2013 10:39 PM PDT SEOUL (Reuters) - Samsung Techwin Co Ltd said on Friday it had won a 605.1 billion won ($536.7 million) order to produce low pressure turbine modules for General Electric Co gas turbine engines. The South Korean engine manufacturer said in a regulatory filing the modules will be manufactured under an exclusive license, and the contract is expected to expire by end-2018. ($1 = 1127.4500 Korean won) (Reporting by Joyce Lee; editing by Miral Fahmy) Full Story | Top |
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