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  June 2012

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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 edge up, dollar steady as markets await Fed
    By Richard Hubbard LONDON (Reuters) - European shares edged higher and major currencies and commodities were little changed on Wednesday as investors awaited clarity on the U.S. Federal Reserve's next policy step. Recent mixed data on the health of the U.S. economic recovery is expected to encourage the Fed to leave its ultra-loose policy unchanged, but markets are on alert for any hints on when or how quickly it could wind back its bond buying. "Our view is they are going to stick with $85 billion a month (of bond buying) until the end of the year... ...
  • 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. ...
  • 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. ...
  • 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. ...
  • 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. ...

Archive for June 26th, 2012

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