Business News

U.S. to loosen sanctions on Iran for mobile phones, gadgets

WASHINGTON | Thu May 30, 2013 2:03pm EDT WASHINGTON (Reuters) - The United States was set to relax sanctions on Iran on Thursday to allow American companies to sell mobile phones, software and other technology used for personal communications to Iranians, two U.S. officials said. The move, expected later on Thursday, will allow Iranians to get access to the latest Apple pho...

30 May 6:44 PM 0 Read More...

Global investors pile into stocks, still favor Japan

By Natsuko Waki LONDON | Thu May 30, 2013 9:23am EDT LONDON (Reuters) - Global investors were more upbeat on equities this month than at any time since early 2011, confident that liquidity will remain ample even though the Federal Reserve has started a debate on when to scale back stimulus, Reuters polls showed. Monthly asset allocation polls of 56 investors across ...

30 May 1:42 PM 0 Read More...

Futures point to higher open after data

By Ryan Vlastelica NEW YORK | Thu May 30, 2013 9:14am EDT NEW YORK (Reuters) - Stock index futures pointed to a modestly higher open on Thursday as the latest economic data indicated that central bank stimulus would remain intact. Jobless claims unexpected rose in the latest week while a preliminary read on first-quarter GDP came in slightly under expectations. Thou...

30 May 1:42 PM 0 Read More...

Jobless claims unexpectedly rise, but still within 2013 range

WASHINGTON | Thu May 30, 2013 8:35am EDT WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but not enough to suggest a shift in the recent pattern of modest job gains. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 354,000, the Labor Department said on Thursday. C...

30 May 1:42 PM 0 Read More...

First quarter GDP revised slightly lower; austerity bites

By Jason Lange WASHINGTON | Thu May 30, 2013 9:25am EDT WASHINGTON (Reuters) - A drop in government spending dragged more on the U.S. economy than initially thought in the first three months of the year, a sign of increasing pain from Washington's austerity drive. Another report on Thursday showed the number of new jobless claims rose last week, and together the dat...

30 May 1:42 PM 0 Read More...

Exclusive: Europe plans major scaling back of financial trading tax

By John O'Donnell and Ilona Wissenbach BRUSSELS | Thu May 30, 2013 8:08am EDT BRUSSELS (Reuters) - European countries plan to scale back a proposed financial transactions tax drastically, initially imposing a tiny charge on share deals only and taking much longer than originally intended to achieve a full roll-out. While yet to be formally proposed, the sweeping rev...

30 May 1:42 PM 0 Read More...

Banks, traders back new Nasdaq derivatives market

LONDON | Thu May 30, 2013 4:05am EDT LONDON (Reuters) - Key banks, brokerages and high-frequency trading firms are backing a new London derivatives market set up by Nasdaq OMX (NDAQ.O), which the exchange is launching to shake up competition in trading European interest-rate products. Nasdaq said in a statement on Thursday banks supporting the venture were BNP Paribas (BNPP...

30 May 8:36 AM 0 Read More...

Risky derivatives make return for returns' sake

By Francesco Canepa LONDON | Thu May 30, 2013 3:47am EDT LONDON (Reuters) - Investors facing record low bond yields are increasingly chasing higher returns via complex derivatives, the instruments at the root of the 2008 global financial crisis, which can punch yawning holes in balance sheets if they go awry. Monetary stimulus from central banks has driven down sove...

30 May 8:36 AM 0 Read More...

Shares under pressure on Fed stimulus jitters

By Marc Jones LONDON | Thu May 30, 2013 3:45am EDT LONDON (Reuters) - World shares were under pressure for a second day on Thursday and the dollar slipped against the yen, as uncertainty over when the U.S. Federal Reserve might slow its stimulus program dominated markets. Top European stocks .FTEU3 were rangebound after heavy falls on Wednesday, but another 5 percen...

30 May 8:36 AM 0 Read More...

China official PMI to show minimal growth in May

BEIJING | Thu May 30, 2013 3:38am EDT BEIJING (Reuters) - China's slowing factory sector may have barely grown in May amid lackluster local and foreign demand, a Reuters poll showed, adding to fears that the world's second-largest economy is losing steam. The median forecast of 10 economists polled by Reuters showed China's official Purchasing Managers' Index (PMI) likely r...

30 May 8:36 AM 0 Read More...