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| Mercedes-Benz car sales rise 16 percent in September to record high Friday, Oct 04, 2013 12:37 AM PDT  FRANKFURT (Reuters) - Daimler's Mercedes-Benz premium auto brand posted its best-ever sales month in September, growing volume by 15.9 percent to 142,994 cars, the company said on Friday, confirming figures published earlier in a news report. In a statement, the company said sales were driven primarily by China, where volume rose 21 percent last month, and benefited from strong demand for its compact model range that includes the CLA four-door coupe. ... Full Story | Top |
| BOJ Kuroda: prolonged U.S. fiscal standoff could destabilize markets Friday, Oct 04, 2013 12:29 AM PDT TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda warned on Friday that the U.S. fiscal standoff could destabilize global financial markets if it drags on. Asked whether the BOJ will ease further if the U.S. debt stalemate severely hits the global economy, Kuroda said: "We will make necessary policy adjustments, depending on upside and downside risks, but for now we see Japan's economy making steady progress towards achieving the BOJ's 2 percent price goal even when taking into account various risk factors. ... Full Story | Top |
| BOJ maintains stimulus, more upbeat on capex Friday, Oct 04, 2013 12:29 AM PDT  By Leika Kihara TOKYO (Reuters) - The Bank of Japan maintained its massive monetary stimulus on Friday and upgraded its view on capital expenditure, encouraged by growing signs that the benefits of its aggressive policy action to escape deflation are broadening. After a two-day review, the central bank reiterated its view the world's third-largest economy is recovering moderately, suggesting that no additional monetary policy measures are needed to counter the pain from next year's sales tax hike. "Capital expenditure is picking up as corporate profits improve," the BOJ said in a statement. ... Full Story | Top |
| HTC under pressure to find partner after first quarterly loss Friday, Oct 04, 2013 12:28 AM PDT  By Michael Gold TAIPEI (Reuters) - Taiwan's HTC Corp slid into the red for the first time in the third quarter, adding to the case for the troubled smartphone maker to abandon its prized independence and reach out for a white knight soon. Like other strugglers in the sector, HTC has been laid low by the product and marketing might of Apple Inc and Samsung Electronics Co Ltd - woes that have been exacerbated by supply chain constraints and internal turmoil. ... Full Story | Top |
| Freeport expects to sign new contract with Indonesia union in two weeks Friday, Oct 04, 2013 12:27 AM PDT  By Randy Fabi NUSA DUA, Indonesia (Reuters) - Freeport-McMoRan Copper & Gold Inc and its Indonesian union workers are expected to sign a new contract within two weeks after reaching an agreement over wages, a senior company official said. The deadline for a deal between workers and management at Freeport's Grasberg mine in Papua, which is the world's second- biggest copper mine, was supposed to be on Friday. "We plan to have (talks) extended by maybe two weeks because we are thinking of having the signing of the agreement by mid-October. ... Full Story | Top |
| Wood Group sees Canadian oil uncertainty continuing Friday, Oct 04, 2013 12:20 AM PDT LONDON (Reuters) - British energy services firm Wood Group said on Friday a slowdown in Canada would weigh on results into next year, but confirmed it expects core profit at its engineering division to grow 10 to 15 percent in 2013, in line with a revised target. Wood Group brought down its 2013 core profit, or earnings before interest, tax and amortization (EBITA), guidance for engineering in August, to 10-15 percent from 15 percent, on the back of weakness in Canada's tar sands market, which the company also said would make 2014 a challenging year. ... Full Story | Top |
| Exclusive: Drug firm Ikaria on the block for more than $2 billion - sources Friday, Oct 04, 2013 12:02 AM PDT By Greg Roumeliotis and Jessica Toonkel NEW YORK (Reuters) - Ikaria Inc, a private equity and venture capital-backed company whose products are focused on critically ill patients, is exploring a sale that it hopes could value it at more than $2 billion, three people familiar with the matter said this week. Ikaria, whose owners include New Mountain Capital LLC, ARCH Venture Partners LP and Venrock Associates LP, is working with Morgan Stanley and Credit Suisse Group AG on the possible sale, two of the people said. The sources requested anonymity because the sale process is confidential. ... Full Story | Top |
| South Africa's rand slightly up but strikes, weak economy limit gains Friday, Oct 04, 2013 12:00 AM PDT  JOHANNESBURG (Reuters) - South Africa's rand firmed slightly against the dollar on Friday although worries about domestic labour unrest and a wide current account gap will keep gains in check, despite global pressure on the greenback as the U.S. government remains in shutdown. Government bonds also edged higher in early trade, with yields dipping 3.5 basis points to 7.98 percent for the benchmark and 2 basis points to 6.075 percent for the shorter-dated 2015 issue. By 0651 GMT the rand was up 0.3 percent against the U.S. currency at 10, compared with its close in New York the previous day. ... Full Story | Top |
| Motor racing-Hamilton fastest in Korean practice Thursday, Oct 03, 2013 11:58 PM PDT * Hamilton fastest in both practice sessions * Vettel second quickest * Raikkonen crashes in morning (Adds second session) By Alan Baldwin YEONGAM, South Korea, Oct 4 (Reuters) - Lewis Hamilton kept championship leader Sebastian Vettel off the top of the timesheets in both Friday practice sessions for the Korean Formula One Grand Prix while Kimi Raikkonen slammed his Lotus into a tyre wall. The Mercedes driver lapped the anti-clockwise Yeongam circuit, set against a backdrop of coastal marshes and South Korean shipyard cranes, with a best time of one minute 39. ... Full Story | Top |
| Tunisia's tourism revenue up but still lagging pre-Arab Spring levels Thursday, Oct 03, 2013 11:58 PM PDT TUNIS (Reuters) - Tunisia's tourism revenues grew by 2.7 percent in the first nine months of 2013 from a year earlier, but have yet to regain the levels reached before its Arab Spring uprising, data showed on Thursday. Tourism is one of the North African country's biggest sources of income but many visitors have stayed away since the uprising that overthrew President Zine al-Abidine Ben Ali in January 2011 and marked the start of political protests across the Middle East and North Africa. . Revenues from tourism totalled 2. ... Full Story | Top |
| S. African auto part workers reject pay offer Thursday, Oct 03, 2013 11:57 PM PDT  JOHANNESBURG (Reuters) - South African automotive parts workers have rejected the latest wage offer from employers aimed at ending a strike that has brought assembly lines to a standstill in Africa's biggest economy. Jakkie Olivier, chief executive of the Retail Motor Industry, told SAfm radio that management had offered to raise salaries by 10 percent in the first year and 8 percent in the following two years. ... Full Story | Top |
| Angola postpones first Eurobond sale again, to 2014 Thursday, Oct 03, 2013 11:48 PM PDT LUANDA (Reuters) - Angola has delayed the issue of its first sovereign Eurobond to 2014 from this year as it has been working on internal factors to ensure the debt sale is successful in international markets, Finance Minister Armando Manuel said on Thursday. "It is certainly a target for next year," Manuel told Reuters on the sidelines of a ministry event. "We are working on the financing needs for the 2014 budget and that's where we will decide on the value (of the planned issuance). ... Full Story | Top |
| Botswana leaves benchmark rate unchanged at 8 percent Thursday, Oct 03, 2013 11:46 PM PDT JOHANNESBURG (Reuters) - Botswana's central bank on Thursday kept its benchmark rate unchanged at 8 percent, saying the medium-term outlook for inflation was positive, with inflation forecast to remain within target. "The current state of the economy and assumptions on both the domestic and external economic outlook ... suggest that the current monetary policy stance is consistent with maintaining inflation within the Bank's 3-6 percent objective in the medium term," the Bank of Botswana said in a statement on its website. Full Story | Top |
| Botswana GDP grows 4.1 pct in second quarter of 2013 Thursday, Oct 03, 2013 11:45 PM PDT  JOHANNESBURG (Reuters) - Botswana's economy grew by 4.1 percent quarter-on-quarter in the second quarter of 2013 after contracting by 2.1 percent in the first three months of the year, data from the statistics office showed on Thursday. On a year-on-year basis, GDP was up 7.9 percent in the second quarter compared with a 3.3 percent expansion for Q1, Statistics Botswana said in a report posted on its website. Full Story | Top |
| South Sudan to start producing diesel at mini-refinery by year-end Thursday, Oct 03, 2013 11:44 PM PDT JUBA (Reuters) - South Sudan will launch its first small oil refinery in December to produce diesel as it seeks to lower dependency on petroleum product imports, a senior oil official said on Thursday. South Sudan, one of the world's least developed countries, took three-quarters of Sudan's oil production when it became independent in 2011 but has no refineries and needs to import petrol from Sudan or East African neighbours. The landlocked nation also needs to export its crude through a Sudanese port but it plans to build an alternative pipeline either to Kenya or Djibouti via Ethiopia. ... Full Story | Top |
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