• Breaking News

  • Yahoo's board approves $1.1 billion Tumblr acquisition: WSJ
    SAN FRANCISCO (Reuters) - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday. Such an acquisition would be Marissa Mayer's largest deal since taking the helm of the once-iconic Internet company in July 2012. Yahoo is keen on fast-growing Tumblr because its younger user base would bolster the older website's "cool factor," the technology blog AllThingsD cited the sources as saying. ...
  • Wall Street Week Ahead: Correction talk gets old as rally sails along
    By Angela Moon NEW YORK (Reuters) - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old. Concerns about a technical correction have been a hot topic for weeks, especially as the rally accelerated in May - the S&P 500 is up 4.4 percent so far this month and up nearly 17 percent for the year. But as the three major U.S. stock indexes inch higher and higher to set record after record, many analysts are shrugging off the pullback worries. ...
  • Analysis: Little sign Abe can shake up Japan's inbound FDI
    By Stanley White TOKYO (Reuters) - Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades. Prime Minister Shinzo Abe pledged to make Japan "the world's easiest country for companies to do business in" as part of his economic revival plan, which so far has been largely met with approval. The stock market has rallied 45 percent this year and Abe's approval ratings are around 70 percent. ...
  • Job market gains could lead Fed to taper QE3 early
    By Ann Saphir and Jonathan Spicer (Reuters) - The beginning of the end of the Federal Reserve's massive bond-buying program might come sooner than many investors think if recent gains in the U.S. labor market do not prove fleeting. Much will depend on how economic data, which has given mixed signals for growth prospects, develops over the next few months. Reports on job growth in particular will go a long way in helping Fed officials determine whether the time is right to trim the pace of their $85 billion in monthly purchases. The marked improvement in the labor market since the U.S. ...
  • Insight: Despite curbs, China's vast hot money triangle flourishes
    By James Pomfret and Matthew Miller ZHUHAI, China/HONG KONG (Reuters) - In an underground mall just a stone's throw from China's teeming border with Macau, a row of 30 small shops with identical golden plaques does a brisk, though shadowy trade with mainland Chinese visitors, many of them bound for the gambling hub. "Good rates. Better than the banks," shout salespeople jostling to usher clients into shops where thick wads of Chinese 100 yuan ($16.31) and HK$1,000 ($130) bank notes change hands and shuffle noisily through electronic cash-counting machines. ...
  • Analysis: Airline emissions deal may not come before EU deadline
    By Allison Martell (Reuters) - Hope is fading for a global deal to regulate the airline industry's greenhouse gas emissions ahead of a fall deadline, even though failure could push the industry back to the brink of a trade war over the European Union's emissions trading system. Last November the EU suspended its controversial scheme to force all airlines to buy carbon credits for any flight arriving in or departing from European airspace. The scheme had pitted European states against China, the United States, India and others, who said it violated their sovereignty. ...
  • Analysis: Frontier Markets booming but risks mounting
    By Manuela Badawy NEW YORK (Reuters) - With the world's biggest central banks driving yields on safe assets to near zero, some investors are tossing caution to the wind and rushing to buy illiquid and previously overlooked bonds sold by countries with no capital markets track record. Even the biggest investors acknowledge that "frontier markets" like Vietnam and Romania aren't for the faint of heart because nobody knows whether these new debt market players will be able to make good on their obligations. ...
  • UK lawmakers consider probe into transparency of mining firms
    By Clara Ferreira-Marques LONDON (Reuters) - Britain's parliament will this week consider whether to probe the transparency of oil and mining firms listed in London, an issue highlighted by corruption probes at emerging market miners which lawmakers fear have dented the stock market's reputation. The chairman of parliament's Committee for Business, Innovation and Skills said on Sunday he would this week propose an inquiry into issues including governance and anticorruption protection at mining and oil companies. The probe could start before the end of the parliamentary session in July. ...
  • Exclusive: South Africa's NUM seeks 15-60 percent wage rises from gold, coal producers
    By Ed Stoddard JOHANNESBURG (Reuters) - South Africa's National Union of Mineworkers said it would seek pay rises of up to 60 percent from gold and coal producers, raising the prospect of fresh strikes as firms battle higher costs and falling prices in an already heated labor climate. Africa's biggest economy is hoping to avoid the 2012 wildcat strike action at platinum and gold mines that cost billions in lost revenue and production and killed over 50 people. ...
  • Bankia compensation qualms signal loss of faith in Spain's banks
    By Sonya Dowsett MADRID (Reuters) - Many duped savers at Spanish lender Bankia are shunning a state-supervised compensation scheme in favor of expensive lawsuits, prolonging a mis-selling scandal and complicating efforts to restore faith in the banking system. The disputes over mis-selling at Bankia and other nationalized banks have created a major headache for the government as it tries to take the next step in their rescue, imposing large losses on holders of junior debt. ...

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• Breaking News

  • Yahoo's board approves $1.1 billion Tumblr acquisition: WSJ
    SAN FRANCISCO (Reuters) - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday. Such an acquisition would be Marissa Mayer's largest deal since taking the helm of the once-iconic Internet company in July 2012. Yahoo is keen on fast-growing Tumblr because its younger user base would bolster the older website's "cool factor," the technology blog AllThingsD cited the sources as saying. ...
  • Wall Street Week Ahead: Correction talk gets old as rally sails along
    By Angela Moon NEW YORK (Reuters) - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old. Concerns about a technical correction have been a hot topic for weeks, especially as the rally accelerated in May - the S&P 500 is up 4.4 percent so far this month and up nearly 17 percent for the year. But as the three major U.S. stock indexes inch higher and higher to set record after record, many analysts are shrugging off the pullback worries. ...
  • Analysis: Little sign Abe can shake up Japan's inbound FDI
    By Stanley White TOKYO (Reuters) - Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades. Prime Minister Shinzo Abe pledged to make Japan "the world's easiest country for companies to do business in" as part of his economic revival plan, which so far has been largely met with approval. The stock market has rallied 45 percent this year and Abe's approval ratings are around 70 percent. ...
  • Job market gains could lead Fed to taper QE3 early
    By Ann Saphir and Jonathan Spicer (Reuters) - The beginning of the end of the Federal Reserve's massive bond-buying program might come sooner than many investors think if recent gains in the U.S. labor market do not prove fleeting. Much will depend on how economic data, which has given mixed signals for growth prospects, develops over the next few months. Reports on job growth in particular will go a long way in helping Fed officials determine whether the time is right to trim the pace of their $85 billion in monthly purchases. The marked improvement in the labor market since the U.S. ...
  • Insight: Despite curbs, China's vast hot money triangle flourishes
    By James Pomfret and Matthew Miller ZHUHAI, China/HONG KONG (Reuters) - In an underground mall just a stone's throw from China's teeming border with Macau, a row of 30 small shops with identical golden plaques does a brisk, though shadowy trade with mainland Chinese visitors, many of them bound for the gambling hub. "Good rates. Better than the banks," shout salespeople jostling to usher clients into shops where thick wads of Chinese 100 yuan ($16.31) and HK$1,000 ($130) bank notes change hands and shuffle noisily through electronic cash-counting machines. ...
  • Analysis: Airline emissions deal may not come before EU deadline
    By Allison Martell (Reuters) - Hope is fading for a global deal to regulate the airline industry's greenhouse gas emissions ahead of a fall deadline, even though failure could push the industry back to the brink of a trade war over the European Union's emissions trading system. Last November the EU suspended its controversial scheme to force all airlines to buy carbon credits for any flight arriving in or departing from European airspace. The scheme had pitted European states against China, the United States, India and others, who said it violated their sovereignty. ...
  • Analysis: Frontier Markets booming but risks mounting
    By Manuela Badawy NEW YORK (Reuters) - With the world's biggest central banks driving yields on safe assets to near zero, some investors are tossing caution to the wind and rushing to buy illiquid and previously overlooked bonds sold by countries with no capital markets track record. Even the biggest investors acknowledge that "frontier markets" like Vietnam and Romania aren't for the faint of heart because nobody knows whether these new debt market players will be able to make good on their obligations. ...
  • UK lawmakers consider probe into transparency of mining firms
    By Clara Ferreira-Marques LONDON (Reuters) - Britain's parliament will this week consider whether to probe the transparency of oil and mining firms listed in London, an issue highlighted by corruption probes at emerging market miners which lawmakers fear have dented the stock market's reputation. The chairman of parliament's Committee for Business, Innovation and Skills said on Sunday he would this week propose an inquiry into issues including governance and anticorruption protection at mining and oil companies. The probe could start before the end of the parliamentary session in July. ...
  • Exclusive: South Africa's NUM seeks 15-60 percent wage rises from gold, coal producers
    By Ed Stoddard JOHANNESBURG (Reuters) - South Africa's National Union of Mineworkers said it would seek pay rises of up to 60 percent from gold and coal producers, raising the prospect of fresh strikes as firms battle higher costs and falling prices in an already heated labor climate. Africa's biggest economy is hoping to avoid the 2012 wildcat strike action at platinum and gold mines that cost billions in lost revenue and production and killed over 50 people. ...
  • Bankia compensation qualms signal loss of faith in Spain's banks
    By Sonya Dowsett MADRID (Reuters) - Many duped savers at Spanish lender Bankia are shunning a state-supervised compensation scheme in favor of expensive lawsuits, prolonging a mis-selling scandal and complicating efforts to restore faith in the banking system. The disputes over mis-selling at Bankia and other nationalized banks have created a major headache for the government as it tries to take the next step in their rescue, imposing large losses on holders of junior debt. ...

Archive for August 7th, 2012

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