| | |
| Japan's whisky makers drum up global market for their drams Monday, Dec 30, 2013 11:33 PM PST  By Sophie Knight and Ritsuko Shimizu TOKYO (Reuters) - After years of being overshadowed at home and practically unheard of overseas, Japan's whisky distilleries are expanding capacity as their malts become serious contenders against Scottish and Irish brands. Exports are booming at Nikka, owned by Asahi Group Holdings, and at Suntory Holdings, which is ramping up production at its Yamazaki distillery for the first time in 45 years as domestic sales recover from a prolonged slump. But some are concerned the distilleries may be caught out if the enthusiasm for whisky changes as it did in the 1990s, when several smaller players shut down as Japanese drinkers shifted to beer, clear spirits and imported liquor. The difficulty is that you're making it today for 20 or 50 years' time," said Marcin Miller, an importer of small-batch Japanese whisky with his British company Number One Drinks. Full Story | Top |
| Stocks say sayonara to a successful 2013 Monday, Dec 30, 2013 11:31 PM PST  The yen remained on the defensive, having been bowled over for much of the year by the Bank of Japan's money-printing, while the euro was again proving surprisingly resilient. Activity was sparse on Tuesday with Asia absent its star performer as the Tokyo market is shut for the rest of the week. Full Story | Top |
| Middle East funds most bullish about Egypt equities -survey Monday, Dec 30, 2013 11:10 PM PST  By Nadine Wehbe and Azza Al Arabi DUBAI (Reuters) - Almost half of a sample of Middle East-based fund managers expect to raise equity allocations to Egypt in the next three months, according to the latest monthly Reuters survey of leading fund managers in the region. The results of the survey of leading fund managers in the region, conducted in the past 10 days, show growing optimism about a recovery of Egypt's economy despite continued political uncertainty there. All the other managers expect to keep their Egyptian allocations steady; Full Story | Top |
| Iron ore miners wait to assess Australian cyclone damage Monday, Dec 30, 2013 11:03 PM PST By James Regan SYDNEY (Reuters) - Iron ore miners were waiting for conditions to ease before assessing damage caused by a cyclone that ripped across northwest Australia on Tuesday, closing ports and threatening mining operations in the sparsely populated Pilbara region. The key shipping ports of Dampier, Cape Lambert and Port Hedland, the world's largest iron ore export terminal, bore the brunt of the storm after clearing dozens of iron ore freighters and evacuating staff over the weekend. Cyclone Christine, the second to batter Western Australia state in the November 1-April 30 cyclone season, forced mining companies Rio Tinto, BHP Billiton and Fortescue Metals to suspend shipping until emergency authorities sound the all-clear, expected over the next day or two as the storm continues to weaken. Full Story | Top |
| PRECIOUS-Gold on track for biggest annual loss since 1981 Monday, Dec 30, 2013 11:01 PM PST  By Lewa Pardomuan SINGAPORE (Reuters) - Gold staged a modest rebound on Tuesday after falling more than 1 percent in the previous session, but the precious metal was still heading for its biggest annual decline since 1981 because investors shifted money to equities. A drop in exchange-traded funds holdings shows investors lost faith in bullion as a hedge against inflation and an alternative investment after the U.S. Federal Reserve announced plans to trim in its big monthly bond purchases. "For the next quarter, precious metals as a whole still look weak. Full Story | Top |
| Brent to end 2013 flat as supply fears offset weak demand Monday, Dec 30, 2013 10:58 PM PST  By Manash Goswami SINGAPORE (Reuters) - Brent futures held above $111 a barrel on Tuesday on worries about a prolonged outage from OPEC member Libya, positioning the benchmark to end 2013 virtually unchanged. Brent crude rose 9 cents to $111.30 a barrel by 0629 GMT, after settling 97 cents lower in the previous session. Full Story | Top |
| Trade data boosts South African rand, but bonds weaken Monday, Dec 30, 2013 10:55 PM PST  South Africa's rand gained more than 1 percent against the dollar on Monday, boosted in large part by a slight but unexpected trade surplus for November. The yield for the benchmark 2026 note climbed 8 basis points to 8.265 percent while that for the 2015 paper was up 7.5 basis points at 6.155 percent. Full Story | Top |
| South Africa's credit growth slows to 6.98 pct in November Monday, Dec 30, 2013 10:52 PM PST JOHANNESBURG (Reuters) - Growth in credit demand from South Africa's private sector slowed to 6.98 percent year-on-year in November, from 7.62 percent in October, data from the Reserve Bank showed on Tuesday. Expansion in the broadly defined M3 measure of money supply also braked to 6.3 percent from 7.1 percent the previous month. Full Story | Top |
| S.African stocks edge toward new highs after record year Monday, Dec 30, 2013 10:48 PM PST South African stocks edged up nearly 1 percent on Monday to close near a life-time high, as investors snapped up blue-chips such as Naspers and Mondi that have driven Africa's top bourse to a string of records this year. Naspers rose 1.6 percent to 1,078 rand. The media firm has gained 98.5 percent so far in 2013, making it the most valuable local company on the Johannesburg exchange, helped by its stake in Chinese internet company Tencent Holdings. Its dramatic rise is likely to continue into the new year, said Abri du Plessis, chief investment officer at Gryphon Asset Management in Cape Town. Full Story | Top |
| Quality over quantity as English bubbly builds reputation Monday, Dec 30, 2013 10:17 PM PST  By Martinne Geller LONDON (Reuters) - With revellers raising a glass of bubbly to the new year, England's tiny sparkling wine industry is set for a lift in 2014 as established brands step up export plans and newcomers join the party. Internationally, England may be known for its ale, cider and gin, but it is also home to 432 vineyards and 124 wineries, mostly along the southeast coast, which has similar geology and climate to France's Champagne region across the Channel. English sparkling wine remains a drop in the bucket compared with its continental cousins, but producers are determined to hang on to their premium positioning, selling at an average of 25 pounds ($40.89) a bottle even as many cost-conscious Britons turn from champagne to cheaper cava from Spain and prosecco from Italy. "We see ourselves as a luxury brand and we have to be judged on a world stage, not just an English stage," said Julian Kirk, head of sales for West Sussex winemaker Nyetimber, one of the longest-established names in English sparkling wine and owner of 10 percent of the country's vineyards. Full Story | Top |
| China halts imports of Pfizer drug on paperwork glitch Monday, Dec 30, 2013 10:09 PM PST  China suspended imports of U.S. drugmaker Pfizer Inc's AIDS-related drug Diflucan on Tuesday, citing a problem with late paperwork, the country's food and drug watchdog said in a statement on its website. Pfizer, the largest drugmaker in the United States, contravened Chinese law when one of its France-based factories failed to submit a supplementary application on time, the China Food and Drug Administration (FDA) said in the statement. With the country's healthcare spending forecast to nearly triple to $1 trillion by 2020 from $357 billion in 2011, according to consulting firm McKinsey, China is a magnet for makers of medicines and medical equipment. Pfizer has taken steps to resolve the issue and is working with China's FDA to ensure its products comply with Chinese law, it said in a statement on its Chinese-language website. Full Story | Top |
| Deutsche Telekom's new CEO faces twin tests Monday, Dec 30, 2013 10:06 PM PST  By Harro Ten Wolde and Leila Abboud FRANKFURT (Reuters) - When Deutsche Telekom's new Chief Executive Tim Hoettges takes office on Wednesday, a revival of mergers and acquisitions in the sector and a dramatically changing competitive landscape in Germany will pose his biggest challenges. Hoettges will draw on such experience to decide how Deutsche Telekom, Europe's third-largest telco by sales, should navigate consolidation on both sides of the Atlantic and take on a rejuvenated Vodafone in Germany. Born in Solingen, a city in the prosperous eastern state of North Rhine-Westphalia, Hoettges is said to be straightforward, traditional and intense, unlike his long-time friend and outgoing CEO Rene Obermann, who is known for his easy charm. "Hoettges is not known for schmoozing corporate colleagues or politicians," said another banker who worked for him. Full Story | Top |
| Exclusive: China may raise Iran oil imports with new contract: sources Monday, Dec 30, 2013 10:02 PM PST  By Chen Aizhu BEIJING (Reuters) - China may buy more Iranian oil next year as a state trader is negotiating a new light crude contract that could raise imports from Tehran to levels not seen since tough Western sanctions were imposed in 2012, running the risk of upsetting Washington. An increase would go against the spirit of November's breakthrough agreement relaxing some of the stringent measures slapped on Iran two years ago over its nuclear program. The November deal between Tehran and the group known as P5+1 -- made up of the United States and five other global powers -- paused efforts to reduce Iran's crude sales but required buyers to hold to "current average amounts" of Iranian oil imports. That agreement was seen as a reward for a softer diplomatic tone from Tehran that was forced, some U.S. officials and lawmakers say, by U.S. and EU sanctions that slashed Iran's oil exports by more than half to about 1 million barrels per day (bpd) and cost it as much as $80 billion in lost revenue. Full Story | Top |
| Fiery oil train collision forces evacuation of North Dakota town Monday, Dec 30, 2013 09:27 PM PST  By Alicia Underlee Nelson FARGO, North Dakota (Reuters) - Residents of a small town in North Dakota were urged to evacuate after a BNSF train carrying crude oil collided with another train on Monday, setting off a series of explosions and fires, the latest in a string of incidents that have raised alarms over growing oil-by-rail traffic. Local residents heard five powerful explosions just a mile outside of the small town of Casselton after a westbound 112-car train carrying soybeans derailed. An eastbound 106-car train hauling crude oil ran into it just after 2 p.m. CST, local officials said. Residents within 5 miles of Casselton were urged to evacuate to avoid contact with the smoke. Full Story | Top |
| Netflix hikes CEO salary by 50 percent for 2014 Monday, Dec 30, 2013 08:12 PM PST  (Reuters) - Netflix Inc raised the salary of its Chief Executive Reed Hastings by 50 percent to $6 million for 2014, a regulatory filing showed, as its stock quadrupled in value this year amidst new programming and a growth in subscriber base. Hastings will receive $3 million each in cash and stock options for the year, according to the filing with the U.S. Securities and Exchange Commission made late on Monday. Other top executives including Chief Financial Officer David Wells and Chief Content Officer Ted Sarandos will also get a pay hike in 2014, it said. In November, Netflix added four new television series and one miniseries from Disney's Marvel unit, and in December it secured the rights to make new episodes of a spinoff of the "Breaking Bad" television series, available within days to customers in Latin America and Europe, starting in 2014. Full Story | Top |
|
No comments:
Post a Comment