20 Jun
Asian shares rise as investors bet Fed will ‘Twist’ again
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Breaking News- Wall Street opens flat ahead of FedNEW YORK (Reuters) - Stocks opened little changed on Wednesday, holding much of the gains made over the last two days, ahead of a highly anticipated Federal Reserve statement and news conference. The Dow Jones industrial average dropped 11.34 points, or 0.07 percent, to 15,306.89. The Standard & Poor's 500 Index shed 0.68 points, or 0.04 percent, to 1,651.13. The Nasdaq Composite Index gained 1.32 points, or 0.04 percent, to 3,483.51. (Reporting by Chuck Mikolajczak; Editing by Bernadette Baum)
- World Bank watching Fed, ready to respondBy Paul Ingrassia and Mike Peacock LONDON (Reuters) - The World Bank is concerned about the spillover effects on developing countries of a slowing of U.S. money creation and will move to provide affordable capital when borrowing costs rise, its president said on Wednesday. The U.S. Federal Reserve has sparked a bout of financial market turmoil since its chief, Ben Bernanke, announced on May 22 that the Fed could, before the year is out, begin slowing the pace at which it creates dollars. ...
- Orders top $100 billion as Ryanair gives Boeing a boostBy Alwyn Scott and Maria Sheahan PARIS (Reuters) - Orders at the Paris Airshow surpassed $100 billion on Wednesday, as planemakers Boeing and Airbus cashed in on demand for fuel-efficient jets and growth in both budget carriers and emerging markets. Ryanair, Europe's biggest low-cost airline, finalized an order for 175 Boeing 737-800 aircraft worth around $15.6 billion at list prices on day three of the aerospace industry's showcase event, the largest single order ever placed by a European airline with the U.S. group. ...
- FedEx shares dip on growth concerns(Reuters) - FedEx Corp said on Wednesday it was cutting its capacity between the United States and Asia, sending its shares lower on concerns about future growth, even as the world's biggest air-freight company posted a stronger-than-expected profit. The company, considered an economic bellwether because of the massive volume of goods it moves around the world, is still trying to adjust to increasing demand for cheaper ground transport rather than pricier but faster air shipping. ...
- EADS says window closed for new BAE merger attemptPARIS (Reuters) - European aerospace group EADS said on Wednesday the window for a merger with BAE Systems was "closed". "Considerations about a deal with BAE are water under the bridge; we have said this time and again, the window is closed," EADS chief spokesman Rainer Ohler said. The two companies abandoned plans to forge the world's largest defense company in October amid German opposition. The Financial Times reported in the headline of an article on Wednesday that EADS had left the door open to a new merger attempt with Europe's largest defense group. ...
- Tesla recalls some Model S vehicles due to seat-mount defect(Reuters) - Electric car maker Tesla Motors Inc said it recalled some Model S cars manufactured between May 10 and June 8 due to a defect in the mounting bracket of the rear seat. "This reduces our confidence that the left hand seat back will be properly retained in the event of a crash," Tesla founder-CEO Elon Musk said in a statement posted on its website. The statement did not specify the number of vehicles affected. Musk said there were no customer complaints and that the company was not aware of any injuries because of the defect. ...
- Vodafone may trump Liberty with $10 billion cash bid for Kabel: sourcesFRANKFURT/LONDON (Reuters) - Vodafone is discussing a bid of about $10 billion with Germany's No. 1 cable operator Kabel Deutschland and is confident its raised all-cash offer and absence of antitrust issues put it in a better position than rival Liberty Global, two sources familiar with its thinking said on Wednesday. Liberty Global , which owns Unity Media, Germany's No. 2 cable operator, made an 85-euros-a-share offer on Tuesday, two people familiar with the matter said, just days after sources said Vodafone had offered 81-82 euros a share or 7.2 billion euros ($9.6 billion) in cash. ...
- Obama says U.S. EU free trade deal can boost jobs and growthBERLIN (Reuters) - President Barack Obama said on Wednesday a free trade agreement between the United States and the European Union could boost jobs and growth on both sides of the Atlantic and he also stressed the need for economic structural reforms. Speaking at a joint news conference with German Chancellor Angela Merkel in Berlin, Obama also said: "We have a profound stake in each other's success. We agreed that there is more work to do. Not only do we need to grow but we also need to reform our economies structurally." (Reporting by Jeff Mason and Roberta Rampton)
- Softbank closer to acquiring Sprint after Dish abandons bid for nowBy Sophie Knight and Sinead Carew TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week. SoftBank Chief Executive Masayoshi Son is now a step closer to sealing the largest overseas acquisition by a Japanese company in history, after winning support from a key shareholder by raising SoftBank's offer to $21.6 billion from $20.1 billion last week. ...
- U.S. arms companies see rising foreign demandBy Andrea Shalal-Esa PARIS (Reuters) - U.S. arms makers see rising foreign demand for fighter jets, missile defense systems and other weapons as countries modernize their forces and U.S. officials, facing tighter budgets, encourage allies to invest more in intelligence gathering and aerial refueling equipment. U.S. Air Force arms sales doubled from 2005 to 2011 and will likely remain strong in coming years, a senior Air Force official said at the Paris air show on Monday. ...
- Wall Street opens flat ahead of Fed
