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March 2011
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Nikkei outperforms Asian stocks as Fed looms

By Ian Chua SYDNEY (Reuters) - Japanese stocks rose on Wednesday, thanks to a positive lead from Wall Street plus a softer yen, outperforming the rest of Asia which anxiously seeks clarity on the Federal Reserve's next policy step. Major currencies were mostly subdued ahead of the end of the Fed meeting. A policy statement is due at 1800 GMT (1400 EDT) and Chairman Ben Bernanke will brief media half an hour later. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.3 percent, led by a 1.3 percent fall in mainland Chinese stocks . ...

Dish abandons Sprint bid for now to focus on Clearwire

By Sinead Carew NEW YORK (Reuters) - Dish Network Corp said it would not make a new offer to buy No. 3 U.S. wireless provider Sprint Nextel in time for a Tuesday deadline and would instead focus on its tender offer for Clearwire Corp. The decision may be good news for Japan's SoftBank Corp, which is also trying to buy Sprint. A purchase by SoftBank could provide Sprint with access to more capital that it could use to beef up its network and compete better. ...

Asia business sentiment rises in second quarter, global growth risk still dominates

By Miyoung Kim SEOUL (Reuters) - Asia's top companies have become more optimistic about their business outlook with the retail and shipping industries rebounding sharply in the second quarter of 2013, the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey shows. The Thomson Reuters/INSEAD Asia Business Sentiment Index climbed six points to 71 in June, its highest level in five quarters and the third consecutive quarterly rise. A reading above 50 indicates a generally positive outlook. ...

Vodafone raises Kabel Deutschland offer after rival bid: report

(Reuters) - Britain's Vodafone Group Plc has raised its preliminary offer to buy Germany's largest cable operator, Kabel Deutschland Holding AG, a day after U.S. media group Liberty Global Plc made a rival bid, Bloomberg reported on Tuesday, citing people familiar with the bid. Bloomberg reported that Vodafone told Kabel Deutschland this week that it would be willing to pay 85 euros a share compared with its initial offer of 80 euros to 82 euros for the German company. Vodafone is said to be studying Kabel Duetschland's books before making an official offer, Bloomberg said. ...

Mexican oil producer Pemex evacuates headquarters after bomb threat

MEXICO CITY (Reuters) - Mexico's state oil producer, Pemex, said on Tuesday it had evacuated its Mexico City headquarters, the site of a deadly explosion in January, after a bomb threat. "In the face of the threat, we're applying security measures at the Pemex tower in Mexico City," Pemex said in a tweet around 8:48 p.m. (0148 GMT Wednesday). A company spokesman confirmed there was a bomb threat and said there were very few people in the building at the time of the evacuation. Another Pemex spokeswoman could not immediately provide details on how the threat arrived. ...

Wall St. extends rise, investors see no change in Fed policy

By Ryan Vlastelica NEW YORK (Reuters) - Stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts. Strong market breadth showed an increased appetite for equities, but trading volume was light, a sign that many market participants were taking a wait-and-see attitude. The Fed's two-day policy meeting started Tuesday, and traders are trying to guess its timeline for scaling back purchases of $85 billion per month of bonds. ...

Empire State Building gets 'left-field' $2 billion offer to sell

NEW YORK (Reuters) - A New York City real estate company offered to buy the Empire State Building for $2 billion, a written offer showed, significantly below the skyscraper's appraisal price and about three weeks after investors in the iconic building approved a plan to take the tower public in a real-estate investment trust. ...

Adobe expects third-quarter Creative Cloud subscriber adds to exceed second-quarter

By Sruthi Ramakrishnan (Reuters) - Adobe Systems Inc, known for its Photoshop and Acrobat software, reported a higher-than-expected adjusted second-quarter profit and said demand rose for Creative Cloud, the subscription-based version of its flagship software package. The company said it expects the number of paid subscribers for Creative Cloud in the current quarter to top the 221,000 subscribers who signed up in the second quarter, increasing the total to 700,000. The company added 153,000 subscribers in the first quarter. ...

Kodak prepares $406 million offering as it eyes bankruptcy exit

(Reuters) - Eastman Kodak Co on Tuesday said it will seek court approval for a $406 million rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection. Kodak said creditors agreed to backstop an offering that would let the Rochester, New York-based company issue 34 million common shares at $11.94 each, equal to about 85 percent of the equity of a reorganized company. ...

GM aims for 10 percent of China's luxury car market by 2020

SHANGHAI (Reuters) - General Motors Co said on Wednesday it aims to quadruple its share of China's luxury auto market to 10 percent by 2020 as the U.S. automaker launches new Cadillac models and expands its distribution network in the world's largest car market. Bob Socia, head of GM's China operation, shared Cadillac's China growth target in a roundtable with reporters ahead of a ground-breaking ceremony for GM's new Cadillac plant on the outskirts of Shanghai. "We are not only expanding in tier-one and tier-two cities, which would be pretty logical to Cadillac, but ... ...

Archive for March 19th, 2011

19 Mar

Obama gives modest backing for Brazil’s U.N. ambition (Reuters)

Reuters - U.S. President Barack Obama heralded Brazil’s “extraordinary” rise on the world stage but stopped short of backing its bid for a permanent seat on the United Nations Security Council.

Original post by Reuters and software by Elliott Back

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Archive for March 19th, 2011

Obama gives modest backing for Brazil’s U.N. ambition (Reuters)