Business News

UK has no imminent plans for bank share sales: sources

LONDON | Fri May 3, 2013 5:35am EDT LONDON (Reuters) - Britain has no imminent plans to start selling shares in state-backed lenders Royal Bank of Scotland (RBS.L) and Lloyds Banking Group (LLOY.L) but a sale of shares next year is realistic, sources with knowledge of government plans said. A decision will depend ultimat...

03 May 9:42 AM 0 Read More...

Global shares pause as U.S. jobs report looms, euro gains

By Richard Hubbard LONDON | Fri May 3, 2013 5:22am EDT LONDON (Reuters) - A rally in global share markets halted on Friday as investors braced for monthly jobs data from the United States, while the euro recovered slightly from losses driven by the European Central Bank's decision to cut rates. Analysts expect the April nonfarm payrolls report, due at 0830 a.m. ET (...

03 May 9:42 AM 0 Read More...

EU sees deeper euro zone recession in 2013, slower deficit cuts

By Jan Strupczewski BRUSSELS | Fri May 3, 2013 5:05am EDT BRUSSELS (Reuters) - The euro zone economy will contract by more than expected this year and budget deficits will decline more slowly, the European Commission said on Friday as it set out forecasts for the next two years. France, Spain, Italy and the Netherlands - four of the five largest euro zone economies ...

03 May 9:42 AM 0 Read More...

Exclusive: EU to propose duties on Chinese solar panels

By Robin Emmott and Francesco Guarascio BRUSSELS | Fri May 3, 2013 4:39am EDT BRUSSELS (Reuters) - The EU's trade chief will recommend placing punitive import duties on billions of euros of solar panels from China, people close to the matter say, putting up a barrier to protect European producers but risking upsetting Beijing. The case, the biggest the Commission ha...

03 May 9:42 AM 0 Read More...

Verizon says will not pay a premium for Vodafone stake - analyst

LONDON | Fri May 3, 2013 4:16am EDT LONDON (Reuters) - Verizon Communications (VZ.N) would like to buy out Vodafone (VOD.L) from their Wireless joint venture but will not do so at any cost, its chief executive has told JP Morgan analysts, In a note to clients, analyst Philip Cusick said Verizon boss Lowell McAdam had said he did not believe a premium would be required to bu...

03 May 9:42 AM 0 Read More...

U.S. April employment data to point to sluggish economy

By Lucia Mutikani WASHINGTON | Fri May 3, 2013 12:21am EDT WASHINGTON (Reuters) - U.S. employment growth likely picked up in April, but probably not by enough to counter other signs that suggest the economy has lost a step in recent weeks. Nonfarm payrolls are expected to have increased by 145,000 jobs, acc...

03 May 4:37 AM 0 Read More...

ECB rate cut cheers stocks, euro subdued

By Ian Chua SYDNEY | Thu May 2, 2013 11:28pm EDT SYDNEY (Reuters) - Sharemarkets across Asia mostly rose on Friday after an interest rate cut from the European Central Bank and prospects for more easing lifted hopes that fresh stimulus from yet another major central bank will help foster a stronger global recovery. Trading, however, was subdued with Japanese financi...

03 May 4:37 AM 0 Read More...

OfficeMax investor sues to block merger with Office Depot

By Terry Baynes Thu May 2, 2013 10:42pm EDT (Reuters) - A shareholder in OfficeMax Inc (OMX.N) sued the directors of the company on Thursday, seeking to block its acquisition by larger rival Office Depot Inc (ODP.N), calling the proposed $1.2 billion all-stock deal "grossly inadequate". The proposed merger which seeks to help the two suppliers of office goods slash costs ami...

03 May 4:37 AM 0 Read More...

New Zealand’s internet bad boy wants to see top U.S. lawman

By David Ingram and Naomi Tajitsu WASHINGTON/WELLINGTON |Thu May 2, 2013 8:40pm EDT WASHINGTON/WELLINGTON (Reuters) – A trip to New Zealand will put America’s chief prosecutor on the same soil as a flashy internet mogul who is fighting extradition to the United States on charges he assisted massive piracy of copyrighted movies and music. U.S. Attorney General Eric Holder visits New Zealand ...

03 May 3:44 AM 0 Read More...

Audience revenue beats estimates, helped by S4 demand

By Neha Alawadhi and Aurindom Mukherjee Thu May 2, 2013 7:18pm EDT (Reuters) - Audio-chipmaker Audience Inc (ADNC.O) forecast current-quarter results largely above analysts' estimates, helped by strong demand from key customers such as Samsung Electronics Co Ltd (005930.KS), which uses its chips in its new Galaxy S4 smart...

02 May 11:35 PM 0 Read More...