Business News

Firm dollar hits oil, gold, shares; Nikkei scales new peak

By Chikako Mogi TOKYO | Mon May 13, 2013 2:05am EDT TOKYO (Reuters) - Oil and gold prices fell on Monday as the dollar strengthened, weighing on Asian shares, but Japanese equities outperformed on the back of the yen's slide to a fresh 4-1/2-year low against the U.S. currency. European stock markets are seen narrowly mixed after the pan-European FTSEurofirst 300 ind...

13 May 7:33 AM 0 Read More...

Morgan Stanley's deputy head of investment banking exits: WSJ

Sun May 12, 2013 11:52pm EDT (Reuters) - Morgan Stanley's (MS.N) deputy head of investment banking, Ji-Yeun Lee, has left the firm in recent weeks, the Wall Street Journal reported, citing people familiar with the company. Lee was a key lieutenant to Paul Taubman, who previously co-headed the company's investment bank. Taubman stepped down late last year and his long-time rival Colm...

13 May 7:33 AM 0 Read More...

U.S. broadcast TV ratings slide pressures ad rates at "upfronts"

By Lisa Richwine and Liana B. Baker Sun May 12, 2013 10:32pm EDT (Reuters) - U.S. broadcast networks head into their biggest ad-selling season this week, competing with streaming services like Netflix, battling online players for ad dollars, and fending off hits starring zombies and duck hunters on cable. The increased competition will force ABC, CBS, Fox and NBC to settle f...

13 May 7:32 AM 0 Read More...

Asian shares ease, yen hits fresh lows against dollar

By Chikako Mogi TOKYO | Sun May 12, 2013 8:26pm EDT TOKYO (Reuters) - Asian shares eased on Monday with sentiment hit by selling in commodities triggered by a strong dollar, which rose to a fresh 4-1/2-year peak against the yen on the back of growing confidence in the U.S. economy. Losses in shares were likely to be limited after U.S. stocks rallied to record highs ...

13 May 2:31 AM 0 Read More...

Exclusive - Airbus to China: We support you, please buy our jets

By Barbara Lewis BRUSSELS | Sun May 12, 2013 8:16pm EDT BRUSSELS (Reuters) - China's decision to ease a boycott of some $11 billion in Airbus jet orders followed a high-level appeal from the planemaker urging Beijing to recognize its support over a trade row with Europe, a letter seen by Reuters shows. It gives a glimpse into the intensity of the lobbying in the dis...

13 May 2:31 AM 0 Read More...

Llyods Chairman Bischoff to step down: FT

Sun May 12, 2013 7:28pm EDT (Reuters) - Win Bischoff is stepping down as chairman of British state-backed Lloyds Banking Group (LLOY.L), the Financial Times reported on Sunday, citing sources familiar with the plan, set to be announced ahead of Thursday's annual shareholder meeting. With a strong executive team in place, Bischoff, who has overseen major restructuring and a return to...

13 May 2:31 AM 0 Read More...

British firms more upbeat on economy, credit scheme helping: lobby

LONDON | Sun May 12, 2013 7:18pm EDT LONDON (Reuters) - British companies have grown more optimistic about the economy in recent months as a recovery, increasingly aided by a central bank funding scheme, is gathering pace, a leading business lobby said on Monday. The Confederation of British Industry (CBI) said businesses' view of the future had shifted slightly, although i...

13 May 2:31 AM 0 Read More...

HSBC boss can do more to cut bank down to size

By Steve Slater LONDON | Sun May 12, 2013 7:09pm EDT LONDON (Reuters) - HSBC's (HSBA.L) (0005.HK) sale of a stake in a Korean insurer last month was made with little fanfare, just one of 52 deals struck or businesses closed in the last two years by Chief Executive Stuart Gulliver, and analysts are expecting more. With less than a year left of his 3-year restructurin...

13 May 2:31 AM 0 Read More...

Analysis: Bullish yuan herd leaves China fundamentals in the dust

By Gabriel Wildau SHANGHAI | Sun May 12, 2013 5:08pm EDT SHANGHAI (Reuters) - Investors convinced China's currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan's rally. Investors and companies have been pouring funds into China in recent mo...

12 May 9:28 PM 0 Read More...

Portugal bailout review completed: government

LISBON | Sun May 12, 2013 4:17pm EDT LISBON (Reuters) - Portugal's government said on Sunday its EU and IMF lenders had concluded work on the latest bailout review, indicating there were no outstanding obstacles for Lisbon to receive the next 2 billion euro tranche of the rescue package. The review, which had been practically sealed in March, hit a snag early last month whe...

12 May 9:28 PM 0 Read More...