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May 2012
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End to Fed stimulus, China slowdown rattles swathe of world investments

By Richard Hubbard LONDON (Reuters) - The U.S. Federal Reserve's explicit signal it will stop pumping money into the world economy and data showing China's economy slowing down swept across financial markets on Thursday, sinking bonds, shares and commodities alike. Emerging markets, many of which have been primed by easy Fed money, saw some of the biggest selling as investors rushed to the exits. MSCI's benchmark index for emerging equities slumped by more than 3 percent and shares across the Asian Pacific region outside Japan recorded their biggest one day drop since late 2011. ...

Airbus wins firm orders worth $39.3 billion at show

PARIS (Reuters) - Airbus said it won orders and commitments at the Paris Airshow for 466 aircraft worth a total of $68.7 billion based on list prices. The deals signed at the air show include firm purchase orders for 241 planes worth $39.3 billion, Airbus said on Thursday at a news conference at the show. The planemaker added that its latest A350 model had successfully completed its second flight on Wednesday and would fly past the air show. (Reporting by Maria Sheahan; Editing by James Regan)

French watchdog tells Google to change privacy policy

By Natalie Huet PARIS (Reuters) - France's data protection watchdog ordered Google on Thursday to change its privacy policy or face fines, leading a Europe-wide push to get the Internet giant to clarify its intentions and methods for collecting user data. France's regulator, the CNIL, said Google's privacy policy violated French laws and gave the U.S. company three months to make changes or risk a fine of up to 150,000 euros ($201,100) and a second of 300,000 euros if it still failed to act. ...

Lehman Europe creditors to get further $5.5 billion payout

LONDON (Reuters) - More than 1,000 creditors of the European operations of failed U.S. investment bank Lehman Brothers will share a 3.5 billion pound ($5.5 billion) payout next week, its administrators said on Thursday. The payout means the recovery so far for creditors from one of the banking collapses at the heart of the 2008 financial crisis is 68.5 cents in the dollar. PricewaterhouseCoopers, joint administrators for Lehman Brothers International (Europe), said a dividend of 43.3 percent of what creditors were owed - the second so far - would be paid on June 28. ...

Airbus pieces together air show order finale

PARIS (Reuters) - European planemaker Airbus sought to finalize a flurry of orders on Thursday to avoid a rare defeat to U.S. arch-rival Boeing at its domestic Paris Airshow. As of Wednesday, Airbus lagged its competitor with 211 firm orders against 265 for Boeing. Airbus had commitments for a further 165 jets, compared with 127 for Boeing. The order tallies from both planemakers included major purchases of narrowbody medium-haul jets from Europe's two biggest low-cost carriers, Ryanair and easyJet . ...

China factory activity hits nine month low, policy action eyed

By Kevin Yao BEIJING (Reuters) - China's factory activity weakened to a nine-month low in June as demand faltered, a preliminary survey showed, heightening the risk of a sharper second quarter slowdown and increasing the heat on the central bank to loosen policy. China's economy grew at its slowest pace for 13 years in 2012 and so far this year data has been weaker than expected, bringing warnings the country could miss its growth target of 7.5 percent for this year, though possibly not by much. ...

Boeing launches 787-10 with $30 billion of orders

PARIS (Reuters) - Boeing launched the 787-10 version of its flagship Dreamliner aircraft at the Paris Airshow on Tuesday with 102 provisional orders worth nearly $30 billion at list prices. The news came after rival Airbus clinched an $11.5 billion order from UK budget airline easyJet for 135 A320neos, including 35 current-generation planes and 100 next-generation versions, with options for a further 100 aircraft. ...

Euro zone business slump eases but second quarter contraction likely: PMI

By Jonathan Cable LONDON (Reuters) - The euro zone's private sector slump has eased more than expected this month, business surveys showed on Thursday, but a continued slide in new orders suggested a full recovery is still some way off. The data will come as good news for the European Central Bank as the decline eased across the 17-nation bloc. Markit's Flash Eurozone Composite Purchasing Managers' Index, which makes up around 85 percent of the final reading and is seen as a reliable economic growth indicator for the bloc, rose to 48.9 in June from May's 47.7. ...

Sony CEO asks for patience as shareholders press on spinoff plan

By Mari Saito TOKYO (Reuters) - Sony Corp shareholders pressed its chief executive for a response to hedge fund Third Point's proposal for a partial spinoff of its profitable entertainment arm but Kazuo Hirai pleaded for patience as management reviews the bold plan. Daniel Loeb, the billionaire hedge fund manager of Third Point and Sony's top shareholder, wants the electronics empire to sell to the public as much as one-fifth of its entertainment units and use the proceeds to bolster its struggling hardware divisions. ...

SandRidge ousts CEO Ward, Bennett takes the helm

By Anna Driver and Michael Erman (Reuters) - SandRidge Energy Inc's board of directors removed the energy company's founder and chief executive, Tom Ward, on Wednesday after a months-long struggle with activist investors who accused him of strategic mistakes and self-dealing at the expense of shareholders. Ward, who was also under fire for his high pay, will receive a severance payment of more than $90 million in cash and stock. The oil and gas company's board named its president, James Bennett, to replace Ward as CEO, citing a need for new leadership. ...

Archive for May 2nd, 2012

02 May

Gunman kills four in Phoenix suburb, commits suicide

A gunman, identified by local media as a prominent border militia leader and a reputed neo-Nazi, shot dead four people including a toddler girl in Arizona on Wednesday before apparently committing suicide, police said. The gunman opened fire in a house in Gilbert, a suburb of Phoenix, Gilbert Police Sergeant Bill Balafas said. He could [...]

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Archive for May 2nd, 2012

Gunman kills four in Phoenix suburb, commits suicide