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| Gatwick profit edges up on new routes to China, Russia Tuesday, Jun 25, 2013 12:28 AM PDT  LONDON (Reuters) - London's Gatwick Airport posted a 2.5 percent rise in full year profit on Tuesday, helped by the addition of new routes to countries such as China and Russia and moderate traffic growth. The British capital's second largest airport said earnings before interest, taxes, depreciation and amortisation rose 2.5 percent to 227.1 million pounds for the year to the end of March. Revenues increased by 4.2 percent to 538.9 million pounds. ... Full Story | Top |
| Carrefour considering sale of China, Taiwan businesses: report Tuesday, Jun 25, 2013 12:22 AM PDT  (Reuters) - Carrefour SA the world's second largest retailer, is exploring a sale of its businesses in China and Taiwan, including a possible initial public offering in Hong Kong or a combination of some of those assets with another company, The Wall Street Journal reported on Monday, citing people familiar with the matter. An IPO route could represent around $1 billion in funds, the Journal said, citing a source, adding that Carrefour's plans were still at a preliminary stage. (http://r.reuters.com/mug29t) Carrefour has not hired bankers yet, The Wall Street Journal said, citing sources. ... Full Story | Top |
| South Africa's rand firmer on exporter, corporate demand Tuesday, Jun 25, 2013 12:20 AM PDT  JOHANNESBURG (Reuters) - South Africa's rand strengthened in early trade on Tuesday, bolstered as domestic firms brought back overseas earning ahead of the end of the financial quarter. The rand was at 10.0020 against the dollar at 0627 GMT, 0.62 percent stronger than its New York close of 10.0675 overnight. "The repatriation of foreign earnings is adding a bit of support but nothing has changed, we are not out of the woods yet," said Ion de Vleeschauwer, a trader at Bidvest Bank. "The underlying sentiment is still bearish. ... Full Story | Top |
| Japan's ANA to end join budget airline venture with AirAsia Tuesday, Jun 25, 2013 12:14 AM PDT  TOKYO (Reuters) - Japanese airline ANA Holdings said Tuesday it will end a joint budget airline venture with AirAsia BHD . Started in August 2011, the joint low cost carrier failed to win over Japanese travelers, which ANA has blamed the lackluster performance on poor marketing and a difficult to navigate booking website. ANA said it will continue to operate the budget carrier as a wholly owned subsidiary. Air Asia and ANA executives had been unable to find common ground on cost management and other issues. (Reporting by Tim Kelly; Editing by Shinichi Saoshiro) Full Story | Top |
| China bank outages trigger consumer cash worries Tuesday, Jun 25, 2013 12:04 AM PDT  By Samuel Shen and Kazunori Takada SHANGHAI (Reuters) - System outages at several Chinese banks since the weekend have exacerbated concerns amongst the public about a credit crunch, after the central bank tightened the availability of funds in the banking system as it tries to rein in informal lending. A money transfer system at Bank of China (BOC) , the country's third largest lender, temporarily failed on Monday, and some customers at Bank of Nanjing also could not transfer money this week. ... Full Story | Top |
| IMF help puts Somalia on road to debt relief: central bank governor Tuesday, Jun 25, 2013 12:01 AM PDT  By Richard Lough and Edmund Blair NAIROBI (Reuters) - The International Monetary Fund will offer Somalia technical support and advice, a first step in efforts to secure debt relief for the country emerging from two decades of civil conflict, the central bank governor said on Monday. The IMF officially recognised the Somali government in April, ending a 22-year hiatus during which the African nation was mired in grinding poverty, militancy and maritime piracy, without a functioning central government. ... Full Story | Top |
| Chinese buyers flee Hong Kong for overseas property markets Monday, Jun 24, 2013 11:55 PM PDT  By Yimou Lee and Twinnie Siu HONG KONG (Reuters) - On the seventh floor of a luxury hotel in the heart of Hong Kong, a Chinese couple listens carefully as an agent takes them on a virtual tour of an upmarket property development for sale - not in the former British colony, but in London. Cash-rich mainland Chinese, who some in Hong Kong blame for pushing property prices to record highs, have fled the city's real estate market, scared off by cooling measures that have sent them scouring overseas for better options. ... Full Story | Top |
| Qatar emir hands power to son, no word on prime minister Monday, Jun 24, 2013 11:49 PM PDT  By Regan Doherty DOHA (Reuters) - Qatar's emir Sheikh Hamad bin Khalifa al-Thani handed power on Tuesday to his son, Crown Prince Sheikh Tamim, taking the rare step for a Gulf Arab ruler of voluntarily ceding power to try to ensure a smooth succession. But the 61-year-old emir made no immediate mention of the public face of Qatar's assertive foreign policy, prime minister and foreign minister Sheikh Hamad bin Jassim, a veteran politician who had been expected also to step down. ... Full Story | Top |
| BRICS seek to limit fallout of US stimulus withdrawal Monday, Jun 24, 2013 11:43 PM PDT  By Alonso Soto BRASILIA (Reuters) - Major emerging-market nations will work together to limit the effects that a strong U.S. dollar could have on their economies as the Federal Reserve signals plans to scale back its massive stimulus program, the Brazilian government said on Monday. Brazilian President Dilma Rousseff and her Chinese counterpart, Xi Jinping, discussed ways to strengthen policy coordination on Monday in a telephone conversation, said Thomas Traumann, spokesman for the Brazilian government. ... Full Story | Top |
| China shares extend bear slump, pull down rest of Asia Monday, Jun 24, 2013 11:38 PM PDT  By Chikako Mogi TOKYO (Reuters) - Chinese shares tumbled deeper into bear market territory on Tuesday, dragging down other Asian bourses, as worries spread that a cash squeeze could threaten China's economic growth and take the shine off an emerging U.S. recovery. European stocks were seen choppy, with financial spreadbetters predicting London's FTSE 100 , Paris's CAC-40 and Frankfurt's DAX would open between a 0.1 percent rise and a 0.4 percent drop. U.S. stock futures swung between negative and positive territory, pointing to another uncertain Wall Street open. ... Full Story | Top |
| Gold wage demands from S.Africa's AMCU union rival NUM's:source Monday, Jun 24, 2013 11:37 PM PDT  By Ed Stoddard JOHANNESBURG (Reuters) - Wage demands submitted to South African gold producers on Monday by the hard line Association of Mineworkers and Construction Union equal or exceed those made by the rival National Union of Mineworkers, a source who has seen the demands told Reuters. "They are the same level or higher than what NUM demanded," the source, who did not want to be named, said. NUM's demands range from 15 to 60 percent for the next round of wage talks due to start early next month. AMCU officials could not immediately be reached for comment. ... Full Story | Top |
| Internet boosts South Africa's Naspers FY profit by 20 percent Monday, Jun 24, 2013 11:15 PM PDT JOHANNESBURG (Reuters) - South African media and Internet firm Naspers posted an expected 20 percent jump in annual profit on Tuesday, boosted by strong performance in its Internet businesses and a weaker rand currency. The company, which has stakes in Internet firms such as China's Tencent and Russia's Mail.ru, said core headline earnings per share increased to 2,216 cents from 1,850 cents last year. Naspers had said earnings for the year to end-March would rise by as much as 25 percent. ... Full Story | Top |
| CFTC planning to file civil lawsuit against Corzine: NYT Monday, Jun 24, 2013 10:58 PM PDT  (Reuters) - Federal regulators are planning a civil lawsuit against Jon Corzine over the collapse of MF Global Holdings Ltd and the commodity broker's misuse of customer money during its final days, the New York Times reported, citing law enforcement officials with knowledge of the case. The Commodity Futures Trading Commission (CFTC), the federal agency that regulated MF Global, plans to approve the lawsuit as soon as this week, the NY Times said. (http://link.reuters.com/mej29t) MF Global, led by former New Jersey Gov. ... Full Story | Top |
| BlackBerry launches service to manage Android, Apple devices Monday, Jun 24, 2013 09:04 PM PDT  By Euan Rocha TORONTO (Reuters) - BlackBerry launched a service on Tuesday allowing government agencies and corporate clients to secure and manage devices powered by Google Inc's Android platform and Apple Inc's iOS operating system. The long-anticipated offering, which BlackBerry had said would come out around mid-year, could help the company sell high-margin services to its large clients even if many, or all, of their workers are using smartphones made by its competitors. ... Full Story | Top |
| Microsoft to bring 'Age of Empires' to Apple, Android phones Monday, Jun 24, 2013 07:57 PM PDT  By Malathi Nayak and Tim Kelly SAN FRANCISCO/TOKYO (Reuters) - Microsoft Corp will offer its popular "Age of Empires" game for Apple Inc's iPhone and other smartphones through a tie-up with Japan's KLab Inc, seeking to capture growth in a booming mobile game market. Microsoft's gaming business is dependent primarily on its Xbox franchise but mobile devices have been eating into the gaming industry, luring consumers away from traditional consoles. ... Full Story | Top |
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