• Breaking News

  • Fed seen keeping options open on pace of bond buying
    By Alister Bull WASHINGTON (Reuters) - Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve. Economic data since the 19 officials met in May has been mixed. Employment growth was steady and consumers kept spending despite the drag of tax hikes and government spending cuts. But inflation slowed further beneath the Fed's 2 percent target. ...
  • Shares choppy, dollar steady as Fed meets
    By Richard Hubbard LONDON (Reuters) - European shares turned lower but major currencies and commodities stuck within recent ranges on Wednesday as investors awaited clarity on the U.S. Federal Reserve's next policy move. Mixed reports on the strength of the U.S. economic recovery are expected to encourage the Fed to leave its ultra-loose policy unchanged, but concern it may hint at when it will wind back its bond buying is making all markets skittish. "The market is very nervous," said Oliver Roth, head trader at Close Brothers Seydler. ...
  • Leasing firm CIT orders 30 Boeing 737 MAX planes
    PARIS (Reuters) - Boeing has won an order for 30 of its 737 MAX 8 aircraft worth $3 billion at list prices from leasing firm CIT Group , the two companies said at the Paris Airshow on Wednesday. The deal comprises 10 new aircraft and the conversion of 20 existing 737 orders, with deliveries due in 2019 and 2020, CIT said. It came two days after Boeing announced 737 MAX orders from SkyMark Airlines and TUI Travel . CIT is also "seriously looking" at the 787-10 aircraft that Boeing launched on Tuesday, said Jeff Knittel, president of transportation finance at CIT. ...
  • Airbus wins $7.5 billion A350 order from Air France-KLM
    PARIS (Reuters) - Airbus won an order for 25 A350-900 aircraft from Franco-Dutch carrier Air France-KLM worth $7.5 billion at list prices, the planemaker said at the Paris Airshow on Wednesday. The airline also took a further 25 options on the planes, Airbus said. The aircraft will come into service at Air France in 2017 and later at KLM, the airline said. In addition, Air France-KLM said it signed a memorandum of understanding with Rolls-Royce on equipping its A350 with Trent XWB engines, including a section on their maintenance by Air France Industries KLM Engineering & Maintenance. ...
  • Softbank closer to acquiring Sprint after Dish abandons bid for now
    By 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. ...
  • German cartel court takes on Porsche lawsuit: source
    BERLIN (Reuters) - A German court has assigned an investor lawsuit seeking about 2 billion euros ($2.7 billion) in damages from Porsche SE to a court specializing on cartel matters, a person familiar with the matter told Reuters. The regional court in Braunschweig, Germany, will delegate the case, brought by U.S. investment funds, to a Hanover-based court specializing in cartel matters, the source said on Wednesday on condition of not being identified because the matter is confidential. The court declined to comment. ...
  • 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. ...
  • New Eurofighter chief aims to make jet cheaper
    PARIS (Reuters) - The new chief of the Eurofighter Typhoon will lay out plans by the end of this year to make the fighter jet cheaper and decision-making quicker, as the aircraft gears up to vie for more business in an increasingly crowded and competitive market. Alberto Gutierrez, the former head of operations at EADS unit Airbus Military who became Eurofighter's chief executive in April, said the goal was to win at least 25 percent of 1,000 potential aircraft sales in the global market. ...
  • Revision of Cypriot bailout terms not likely: euro zone officials
    BRUSSELS (Reuters) - The euro zone does not intend to change the terms of Cyprus's bailout as requested by Cypriot President Nicos Anastasiades in a letter sent to euro zone leaders and its lenders, three senior euro zone officials said on Wednesday. Cyprus secured 10 billion euros in emergency loans from the euro zone's bailout fund in April to avoid bankruptcy. The deal involved the closure of the island's second biggest bank, Laiki, and a fundamental restructuring of Bank of Cyprus. ...
  • Smithfield CEO could make about $46.6 million from Shuanghui deal
    (Reuters) - Smithfield Foods Inc Chief Executive Larry Pope could receive nearly $46.6 million in merger-related payments as part of a planned takeover by China's Shuanghui International, a securities filing showed. As per a filing made with the U.S. Securities and Exchange Commission (SEC) late on Tuesday, Pope would be eligible to receive about $28 million in cash and $18.6 million in equity. Robert Manly, Smithfield's chief financial officer, would also be eligible to receive about $22.8 million in potential merger-related payments, the filing showed. ...

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• Breaking News

  • Fed seen keeping options open on pace of bond buying
    By Alister Bull WASHINGTON (Reuters) - Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve. Economic data since the 19 officials met in May has been mixed. Employment growth was steady and consumers kept spending despite the drag of tax hikes and government spending cuts. But inflation slowed further beneath the Fed's 2 percent target. ...
  • Shares choppy, dollar steady as Fed meets
    By Richard Hubbard LONDON (Reuters) - European shares turned lower but major currencies and commodities stuck within recent ranges on Wednesday as investors awaited clarity on the U.S. Federal Reserve's next policy move. Mixed reports on the strength of the U.S. economic recovery are expected to encourage the Fed to leave its ultra-loose policy unchanged, but concern it may hint at when it will wind back its bond buying is making all markets skittish. "The market is very nervous," said Oliver Roth, head trader at Close Brothers Seydler. ...
  • Leasing firm CIT orders 30 Boeing 737 MAX planes
    PARIS (Reuters) - Boeing has won an order for 30 of its 737 MAX 8 aircraft worth $3 billion at list prices from leasing firm CIT Group , the two companies said at the Paris Airshow on Wednesday. The deal comprises 10 new aircraft and the conversion of 20 existing 737 orders, with deliveries due in 2019 and 2020, CIT said. It came two days after Boeing announced 737 MAX orders from SkyMark Airlines and TUI Travel . CIT is also "seriously looking" at the 787-10 aircraft that Boeing launched on Tuesday, said Jeff Knittel, president of transportation finance at CIT. ...
  • Airbus wins $7.5 billion A350 order from Air France-KLM
    PARIS (Reuters) - Airbus won an order for 25 A350-900 aircraft from Franco-Dutch carrier Air France-KLM worth $7.5 billion at list prices, the planemaker said at the Paris Airshow on Wednesday. The airline also took a further 25 options on the planes, Airbus said. The aircraft will come into service at Air France in 2017 and later at KLM, the airline said. In addition, Air France-KLM said it signed a memorandum of understanding with Rolls-Royce on equipping its A350 with Trent XWB engines, including a section on their maintenance by Air France Industries KLM Engineering & Maintenance. ...
  • Softbank closer to acquiring Sprint after Dish abandons bid for now
    By 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. ...
  • German cartel court takes on Porsche lawsuit: source
    BERLIN (Reuters) - A German court has assigned an investor lawsuit seeking about 2 billion euros ($2.7 billion) in damages from Porsche SE to a court specializing on cartel matters, a person familiar with the matter told Reuters. The regional court in Braunschweig, Germany, will delegate the case, brought by U.S. investment funds, to a Hanover-based court specializing in cartel matters, the source said on Wednesday on condition of not being identified because the matter is confidential. The court declined to comment. ...
  • 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. ...
  • New Eurofighter chief aims to make jet cheaper
    PARIS (Reuters) - The new chief of the Eurofighter Typhoon will lay out plans by the end of this year to make the fighter jet cheaper and decision-making quicker, as the aircraft gears up to vie for more business in an increasingly crowded and competitive market. Alberto Gutierrez, the former head of operations at EADS unit Airbus Military who became Eurofighter's chief executive in April, said the goal was to win at least 25 percent of 1,000 potential aircraft sales in the global market. ...
  • Revision of Cypriot bailout terms not likely: euro zone officials
    BRUSSELS (Reuters) - The euro zone does not intend to change the terms of Cyprus's bailout as requested by Cypriot President Nicos Anastasiades in a letter sent to euro zone leaders and its lenders, three senior euro zone officials said on Wednesday. Cyprus secured 10 billion euros in emergency loans from the euro zone's bailout fund in April to avoid bankruptcy. The deal involved the closure of the island's second biggest bank, Laiki, and a fundamental restructuring of Bank of Cyprus. ...
  • Smithfield CEO could make about $46.6 million from Shuanghui deal
    (Reuters) - Smithfield Foods Inc Chief Executive Larry Pope could receive nearly $46.6 million in merger-related payments as part of a planned takeover by China's Shuanghui International, a securities filing showed. As per a filing made with the U.S. Securities and Exchange Commission (SEC) late on Tuesday, Pope would be eligible to receive about $28 million in cash and $18.6 million in equity. Robert Manly, Smithfield's chief financial officer, would also be eligible to receive about $22.8 million in potential merger-related payments, the filing showed. ...

Archive for December 2nd, 2011

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