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Royalty Pharma takeover bid fails to find Elan ecceptance

Thu, 23 May 2013 17:52:46 -0400

DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...

At midday TSX Wall Street lower ahead of long U.S. weekend

Fri, 24 May 2013 14:23:14 -0400

Trader Christopher Morie works on his handheld device on the floor of the New York Stock Exchange Monday, April 29, 2013. World stock markets were muted Tuesday May 7, 2013 as cheer over the better-than-expected U.S. jobs report faded. (Richard ...

Futures Movers Oil cuts loss stays on track for weekly decline

Fri, 24 May 2013 14:17:29 -0400

SAN FRANCISCO (MarketWatch) -- Oil futures on Friday were on track to log a decline for a fourth session in a row, with concerns about lackluster energy demand following weak Chinese data helping to set prices up for a loss on the ...

European shares post first weekly loss in a month on growth stimulus worries

Fri, 24 May 2013 14:02:57 -0400

news ) cuts to "underweight" By David Brett LONDON, May 24 (Reuters) - European shares fell on Friday, marking their first weekly loss in a month, led by financials on concern over earnings prospects in Asia and the potential scaling back of U.S. monetary stimulus. The FTSEurofirst 300 closed down 3.36 points, or 0.3 percent, at 1,226.58, to end the week 1.7 ...

ADR REPORT-ADRs fall as stimulus worry remains

Fri, 24 May 2013 13:41:44 -0400

By Chuck Mikolajczak NEW YORK, May 24 (Reuters) - U.S.-listed shares of foreign companies declined on Friday, on track for their fourth straight decline, on concerns a tapering program of stimulus measures by the U.S. Federal Reserve may be on ...

Ascension Health to sell $1.03 bln of rev bonds June 10 week

Fri, 24 May 2013 13:13:21 -0400

Fri May 24, 2013 1:13pm EDT May 24 (Reuters) - Ascension Health Alliance is expected to sell $1.03 billion of taxable and tax-exempt revenue bonds during the week of June 10, a market source said on Friday. The sale includes $500 million of variable-rate and $100 million of fixed-rate tax-exempt revenue bonds issued through Wisconsin Health and Educational Facilities Authority. In addition, ...

US STOCKS-Wall St slips on Fed stimulus uncertainty PG jumps

Fri, 24 May 2013 13:12:48 -0400

Fri May 24, 2013 1:12pm EDT * Stocks decline as investors assess the Fed's next move * P&G shares climb after CEO replacement * Durable goods orders rise more than expected * Dow off 0.2 pct, S&P 500 off 0.3 pct, Nasdaq off 0.3 pct By Leah Schnurr NEW YORK, May 24 (Reuters) - U.S. stocks fell for a third day on Friday, putting indexes on track for their first negative week since mid-April, on ...

Manufacturers turn up heat on LME over metals warehousing

Fri, 24 May 2013 13:11:11 -0400

Fri May 24, 2013 1:11pm EDT * Complaints about queues, high surcharges gather pace * EC competition watchdog has received enquiry findings * US group says could withdraw support for LME contract By Susan Thomas LONDON, May 24 (Reuters) - Big industrial metals users are leaning heavily on the London Metal Exchange (LME) to fix its controversial metal storage system, although they have limited ...

Stocks Close Modestly Lower But Well Off Worst Levels - U.S. Commentary

Fri, 24 May 2013 13:07:48 -0400

After moving sharply lower at the start of trading on Thursday, stocks showed a substantial recovery attempt over the course of the trading day. The rebound came as upbeat housing data helped offset worries about the Federal Reserve. The major averages climbed well off their worst levels of the day but still ended the session in the red. The Dow edged down 12.67 points or 0.1 percent to ...

Movers Shakers Friday’s movers Abercrombie Sears not in fashion

Fri, 24 May 2013 13:04:08 -0400

Bootstrapping for start-ups When start-up financing is scarce, entrepreneurs should look to bootstrapping. Angel Investor Dale Murray explains what it is and how to attract ...

Bond Report Treasurys move higher as investors buy cheap

Fri, 24 May 2013 13:04:07 -0400

NEW YORK (MarketWatch) -- Investors bought back into Treasurys Friday after a substantial selloff this week, helping the safe-haven debt hold onto gains after a manufacturing report on orders for long-lasting big-ticket items came in better than ...

Metals Stocks Gold futures retreat pare gains for the week

Fri, 24 May 2013 13:04:06 -0400

SAN FRANCISCO (MarketWatch) -- Gold futures posted modest losses on Friday, paring their gains for the week after a nearly 2% climb a day prior, as investors grew wary ahead of a long U.S. holiday ...

Wall Street drops on uncertainty

Fri, 24 May 2013 13:02:03 -0400

"We've had some volatility this week that we really haven't experienced in a month or so, so it's got a little bit of uncertainty here," said Joe Bell, a senior equity analyst at Schaeffer's Investment Research in ...

Chile fines Barricks Pascua Lama suspends construction

Fri, 24 May 2013 12:59:52 -0400

SANTIAGO | Fri May 24, 2013 12:59pm EDT SANTIAGO May 24 (Reuters) - Chilean environmental authorities said on Friday that they will fine Barrick Gold Corp's Pascua-Lama mine around $16 million and that construction on the controversial deposit will need to remain suspended until it adheres to a water management plan in its environmental permit. A Chilean court in April temporarily ...

Meet The People Who Are Subverting Wall Street Reform

Fri, 24 May 2013 12:54:18 -0400

Commodity Futures Trading Commissioner Mark Wetjen Three years after Congress passed sweeping reforms of Wall Street, the industry has successfully widened a variety of cracks in the Dodd-Frank law. But credit for the industry's success at watering down the landmark legislation doesn't just go to well-heeled lobbyists - regulators and lawmakers are helping. ...

UK treating plane incident as criminal not terror-related

Fri, 24 May 2013 12:52:51 -0400

STANSTED, England | Fri May 24, 2013 12:52pm EDT STANSTED, England May 24 (Reuters) - British police said on Friday they are treating an incident involving a plane carrying almost 300 passengers from Pakistan as criminal rather that a terror-related. "It's a criminal investigation under the direction of Essex police," Superintendent Darrin Tomkins told reporters at Stansted ...

ITV News Twitter account hacked by Syrian Electronic Army

Fri, 24 May 2013 12:46:08 -0400

LONDON (Reuters) - Broadcaster ITV on Friday became the latest media outlet to have one of its Twitter feeds hacked by anonymous supporters of Syria's President Bashar al-Assad, just days after Twitter beefed up security to prevent ...

Fitch to Confirm AAAF1+ Ratings on New York City GO Bonds 2006 Ser I Subser I-4 I-5 I-6

Fri, 24 May 2013 12:42:47 -0400

Macao Banks' Rapid China Growth Alters Risk Profiles Macao banks could see their risk profiles weaken as their exposure to China continues to climb.Fitch Ratingsexpects credit growth to accelerate to 30% in 2013 from 26% in 2012, primarily led by China-related trade financing. Generally Chinese exposures are driven by parent referrals and associated risk is adequately mitigated with ...

COMMENT Nikkei nosedive not just a correction

Fri, 24 May 2013 12:42:45 -0400

Fri May 24, 2013 12:42pm EDT SO THE VERSION of events being touted by Japan bulls is that last week's one-day 7.3% plunge in the Nikkei represented simply a pullback for a market that had put in its most supercharged performance over six months since 1953. This presents a major buying opportunity for those who believe "Abenomics" and the newly pugilistic Bank of Japan will drag Japan ...

Billionaire Says Babies Destroy A Womans Focus In Wall Street Jobs

Fri, 24 May 2013 12:41:21 -0400

Speaking at a symposium at the University of Virginia last month, hedge fund billionaire Paul Tudor Jones suggested that having babies kills a woman's focus, rendering her unable to succeed in the trading industry. According to ...

UPDATE 2-Profit taking pressures U.S. natgas futures ahead of holiday

Fri, 24 May 2013 12:32:39 -0400

* Cool near-term forecasts, holiday pressure prices * Warmer extended weather outlook limits downside * Coming up: Baker Hughes rig data, CFTC trade data Friday By Joe Silha NEW YORK, May 24 (Reuters) - U.S. natural gas futures, pressured by light profit-taking ahead of a three-day holiday weekend, remained slightly lower on Friday, but hotter forecasts for later next week that should stir more ...

RPT-Henrik Fisker joins Hong Kong tycoon to salvage Fisker -sources

Fri, 24 May 2013 12:32:06 -0400

Fri May 24, 2013 12:32pm EDT * One of two competing offers in play * Fisker cofounder teams up with investors trying to buy U.S. loan * Group may offer between $25 mln and $30 mln for loan * Sources caution figures are changing, on the rise * DOE considering ramifications of selling Fisker loan -source By Deepa Seetharaman and Norihiko Shirouzu DETROIT/BEIJING, May 24 (Reuters) - Henrik Fisker is ...

RCO prices first Mexico toll-road bond since 2006

Fri, 24 May 2013 12:31:02 -0400

By Paul Kilby Fri May 24, 2013 12:31pm EDT NEW YORK, May 24 (IFR) - Red de Carreteras de Occidente (RCO) has put to bed a rare international toll-road bond out of Mexico, playing its role in developing a new asset class for corporate peso bonds distributed to both foreigners and locals and creating more complex project structures. RCO's Ps7.5bn 15-year amortiser is thought to be the first ...

Wall Street Lower on Fed Worries

Fri, 24 May 2013 12:30:35 -0400

United States stocks fell for a third day on Friday, putting indexes on track for their first negative week since mid-April, on lingering concern the Federal Reserve may scale back its support to the economy. In afternoon trading, the Standard & ...

Valeant Pharma near deal to acquire Bausch Lomb -source

Fri, 24 May 2013 12:29:07 -0400

NEW YORK, May 24 (Reuters) - Canada's Valeant Pharmaceuticals International is nearing a deal to acquire eye care company Bausch & Lomb from private equity owner Warburg Pincus LLC for about $9 billion, a person familiar with the matter said ...

UPDATE 1-Investors trim flows into Mexico in first quarter

Fri, 24 May 2013 12:28:21 -0400

MEXICO CITY, May 24 (Reuters) - Foreign investors nearly halved their investment in Mexican stocks and bonds in the first quarter compared to the same period last year, central bank data showed on Friday, scaling back from record heights. ...

Mexican peso falls to lowest level since mid-March

Fri, 24 May 2013 12:28:19 -0400

MEXICO CITY, May 24 (Reuters) - Mexico's peso fell sharply on Friday to its lowest level since mid-March. The peso dropped 1.28 percent to trade at 12.549 pesos per ...

RPT-Fitch affirms Suriname sovereign ratings at BB-

Fri, 24 May 2013 12:23:05 -0400

Fri May 24, 2013 12:23pm EDT May 24 (Reuters) - For full text please ...

BRIEF-Barrick Gold Silver Wheaton shares halted news pending

Fri, 24 May 2013 12:20:38 -0400

Fri May 24, 2013 12:20pm EDT May 24 (Reuters) - Barrick Gold Corp : * Silver Wheaton shares halted, news ...

RPT-UPDATE 2-News Corps publishing business to initiate stock buyback

Fri, 24 May 2013 12:16:58 -0400

Fri May 24, 2013 12:16pm EDT By Jennifer Saba May 24 (Reuters) - News Corp set the distribution ratios for the spinoff of its publishing business, which may start buying back stock right away. The board of the publishing business, which will retain the News Corp name, authorized a $500 million stock repurchase program, the company said on Friday. The stock repurchase may shed light for analysts ...

Hedge funds bet on Aussie dollar slide

Fri, 24 May 2013 12:12:47 -0400

By Laurence Fletcher LONDON | Fri May 24, 2013 12:12pm EDT LONDON May 24 (Reuters) - Hedge funds hungry for trade ideas after the success of their bets on Japan's recovery have been turning their attention to the Australian dollar, betting the end of the commodities boom will drive down the currency. Funds have been watching for signs of weakness in the Aussie dollar, which was one ...

UPDATE 1-Algerian jihadi mastermind claims Niger suicide attacks

Fri, 24 May 2013 12:12:26 -0400

Fri May 24, 2013 12:12pm EDT * French forces, Niger troops kill last two Islamists * Veteran Algerian jihadist Belmokhtar claims Niger attacks * Belmokhtar planned hostage taking at Algeria gas plant * Niger attacks are 'shockwave' of Mali conflict By Abdoulaye Massalatchi NIAMEY, May 24 (Reuters) - French special forces and Niger troops shot dead on Friday the last two Islamists involved ...

Los Angeles Calif. to sell $284.5 mln of wastewater revs June 4

Fri, 24 May 2013 12:09:14 -0400

Fri May 24, 2013 12:09pm EDT May 24 (Reuters) - The city of Los Angeles, California will sell $284.5 million of combined new and refunding wastewater system revenue bonds on June 4, a market source said on Friday. The sale will consist of $146.610 million of series 2013-A wastewater system revenue bonds, and $137.925 million of refunding series 2013-B wastewater system revenue bonds. Siebert ...

RPT-Mexicos current account deficit narrows in Q1

Fri, 24 May 2013 12:03:20 -0400

Fri May 24, 2013 12:03pm EDT (Repeats with no change to text, to attach item to corrected alerts) MEXICO CITY May 24 (Reuters) - Mexico's current account deficit notched $5.53 billion in the first quarter, the central bank said on Friday, narrowing from the fourth quarter of last year. The current account deficit was the equivalent of 1.8 percent of gross domestic product, the central bank ...

BRIEF-NY attorney general says evidence banks violated mortgage pact

Fri, 24 May 2013 11:59:16 -0400

NEW YORK | Fri May 24, 2013 11:59am EDT NEW YORK May 24 (Reuters) - NY Attorney General Eric Schneiderman says several states have evidence banks violated terms of national mortgage ...

EURO GOVT-Investors favor Bunds to riskier debt into weekend

Fri, 24 May 2013 11:57:12 -0400

Fri May 24, 2013 11:57am EDT * Spanish, Italian bond yields rise on profit-taking * Concerns Fed will scale back U.S. stimulus continues * Bunds rise as investors seek safety before long weekend * U.S. data suggests economy improving By Ana Nicolaci da Costa and Marius Zaharia LONDON, May 24 (Reuters) - Spanish and Italian government bond yields rose on Friday as investors sought safety before a ...

Stocks head lower market on track for weekly loss

Fri, 24 May 2013 11:54:29 -0400

FILE - In this Thursday, May 23, 2013, file photo, Trader Donato Cuttone works on the floor of the New York Stock Exchange near the close of trading. Asian shares traded erratically Friday May 24, 2013 but European markets found their footing, a day after global stocks were routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary ...

CANADA STOCKS-TSX dips as Fed stimulus worry offsets rise in banks

Fri, 24 May 2013 11:49:02 -0400

* TSX falls 7.18 points, or 0.06 percent, to 12,650.91 * Seven of 10 main sectors decline * National Bank up 1.4 percent after results * Manitoba Telecom climbs after deal to sell Allstream * Niko jumps 23 percent after discovery off India's coast By John Tilak TORONTO, May 24 (Reuters) - Canada's main stock index fell modestly on Friday as fears that the U.S. Federal Reserve will turn ...

Market Snapshot U.S. stocks slump weekly streak in jeopardy

Fri, 24 May 2013 11:48:38 -0400

NEW YORK (MarketWatch) -- U.S. stocks traded firmly in the red Friday after another volatile session for Asian markets, with upbeat durable-goods data failing to overcome negative sentiment. Concerns about a potential tapering in the Federal Reserve's bond-buying program ...

Currencies Yen continues advance against dollar

Fri, 24 May 2013 11:48:37 -0400

NEW YORK (MarketWatch) -- The Japanese yen gained against the U.S. dollar Friday, extending an advance that was spurred in part by a selloff in Japanese ...

Tech Stocks Salesforce.com Google hit tech stocks

Fri, 24 May 2013 11:48:36 -0400

SAN FRANCISCO (MarketWatch) -- A sharp drop at Salesforce.com sparked a slump across the stocks of other corporate software vendors and led the broader tech sector into the red on Friday ...

UPDATE 1-Adidas and Puma take rivalry to European soccer final

Fri, 24 May 2013 11:44:34 -0400

Fri May 24, 2013 11:44am EDT By Victoria Bryan and Keith Weir FRANKFURT/LONDON May 24 (Reuters) - German sportswear makers Adidas and Puma renew their own decades-old rivalry when soccer teams Bayern Munich and Borussia Dortmund meet in Europe's Champions League Final at Wembley on Saturday. Adidas is the long-standing kit supplier to Bayern and owns a stake of around nine percent in the ...

U.S. senator urges extreme caution on Softbank-Sprint deal

Fri, 24 May 2013 11:39:13 -0400

WASHINGTON | Fri May 24, 2013 11:39am EDT WASHINGTON May 24 (Reuters) - An influential U.S. senator on Friday expressed strong concerns about Japanese company Softbank Corp's plan to buy 70 percent of Sprint Nextel, the No. 3 mobile service provider, warning it could expose the United States to more Chinese cyber attacks. "I have real concerns that this deal, if approved, could ...

FOREX-Dollar recoups losses to trade higher vs euro after US data

Fri, 24 May 2013 11:37:04 -0400

Fri May 24, 2013 11:37am EDT * U.S. durable good orders better than expected in April * Better German Ifo makes ECB easing less likely * Yen stays firm versus dollar after strong gains Thursday NEW YORK, May 24 (Reuters) - The dollar rose against the euro on Friday, recovering from an early swoon after better-than-expected U.S. durable goods data for April eased investor concerns about the U.S. ...

UPDATE 4-Raiffeisen CEO quits over offshore deals

Fri, 24 May 2013 11:34:53 -0400

Fri May 24, 2013 11:34am EDT * CEO Stepic offers resignation for "personal reasons" * Says acting to protect bank from reputational harm * Step follows revelations about Singapore flat purchases * Shares pare losses, down 2.4 pct By Georgina Prodhan and Michael Shields VIENNA, May 24 (Reuters) - Raiffeisen Bank International Chief Executive Herbert Stepic resigned on Friday in what he ...

Sands China picks Deloitte as new auditor

Fri, 24 May 2013 11:32:59 -0400

HONG KONG | Fri May 24, 2013 11:32am EDT HONG KONG May 24 (Reuters) - Casino operator Sands China Ltd said on Friday that it had chosen Deloitte Touche Tohmatsu as its new auditor. Sands China, along with its controlling shareholder Las Vegas Sands Corp, received a letter in April from PricewaterhouseCoopers saying the firm would not stand for re-appointment as its auditor for the year ...

SP raises Kennebunk Maines rating to AAA

Fri, 24 May 2013 11:31:28 -0400

Fri May 24, 2013 11:31am EDT May 24 (Reuters) - Standard and Poor's Ratings Services raised its rating on the town of Kennebunk, Maine's general obligation bonds to AAA from AA-plus on Thursday. S&P said the outlook is stable. The upgrade reflects the town's strong reserves, the rating agency said. S&P also cited the diverse local economy, limited pension liabilities, and low debt ...

Wall Street lobbyists frequently help draft financial legislation

Fri, 24 May 2013 11:29:19 -0400

Kenneth E. Bentsen Jr., left, a Wall Street lobbyist, at a House financial services panel meeting. WASHINGTON -- Bank lobbyists are not leaving it to lawmakers to draft legislation that ...

CORRECTED-Derivatives trade booms in wake of Japan stock slide

Fri, 24 May 2013 11:27:24 -0400

Fri May 24, 2013 11:27am EDT (CORRECTS stimulus amount in graf 3) By Helen Bartholomew LONDON, May 24 (IFR) - Investors betting on a continuation of Japan's six-month runaway bull market suffered their biggest scare yet on Thursday as the Nikkei 225 lost more than 7% - its largest one-day loss in more than two years. But a corresponding spike in the Nikkei Volatility Index, from 27 to 48, ...

US stocks fall amid global caution

Fri, 24 May 2013 11:16:18 -0400

US stocks have fallen in early trade with caution reigning a day after a shock sell-off in Asia and Europe and ahead of the three-day US Memorial Day holiday weekend. Thirty minutes into Friday trade, the Dow Jones Industrial Average was down 55.16 points (0.36 per cent) to 15,239.34. The broad-based S&P 500 lost 9.40 (0.57 per cent) to 1,641.11, while the tech-rich Nasdaq Composite fell 20.36 ...

CANADA STOCKS-TSX turns higher as National Bank other financials gain

Fri, 24 May 2013 10:48:23 -0400

TORONTO, May 24 (Reuters) - Canada's main stock index turned positive in early Friday trade as fears that the U.S. Federal Reserve will roll back its stimulus program were offset by a rise in National Bank of Canada and other financial stocks. The Toronto Stock Exchange's S&P/TSX composite index was up 2.70 points, or 0.02 percent, at 12,660.79 in mid-morning ...

UPDATE 4-UK fighters escort Pakistan plane to airport 2 arrests

Fri, 24 May 2013 10:47:33 -0400

Fri May 24, 2013 10:47am EDT By Rhys Jones and Peter Griffiths LONDON May 24 (Reuters) - British fighter jets escorted a Pakistan International Airlines passenger plane to Stansted Airport near London on Friday, where police went on board and arrested two men on suspicion of endangering an aircraft. Passengers were leaving the plane and no one was hurt in the incident, a spokesman for the airport ...

UPDATE 2-Swiss tax diplomat to quit as US Europe talks heat up

Fri, 24 May 2013 10:36:55 -0400

Fri May 24, 2013 10:36am EDT * Ambuehl chief negotiator in U.S. tax talks * Also leads negotiations with EU over tax * To step down at the end of August * May signal Swiss move towards broad tax deals-source By Oliver Hirt and Caroline Copley ZURICH, May 24 (Reuters) - Switzerland's top tax diplomat will step down at the end of August, the finance ministry said on Friday, as talks with ...

EMERGING MARKETS-Brazil stocks flat as OGX offsets Vale

Fri, 24 May 2013 10:36:31 -0400

* Concerns over Chinese economic growth, Fed stimulus weigh * Brazil Bovespa little changed, Mexico IPC falls 0.65 pct By Asher Levine SAO PAULO, May 24 (Reuters) - Brazilian stocks were little changed on Friday as concerns over weak economic growth in China weighed on shares of mining firm Vale, offsetting a gain in oil producer OGX. Mexico's IPC index edged towards its lowest closing level ...

China solar companies shun home market in pursuit of margins

Fri, 24 May 2013 10:36:22 -0400

(Reuters) - Chinese solar panel makers are shunning their overcrowded home market in favor of lucrative exports, a switch that has helped to arrest a two-year slump in margins and push shares to 12-month ...

EMERGING MARKETS-Latam FX drops as data adds to fear of Fed withdrawal

Fri, 24 May 2013 10:35:43 -0400

RIO DE JANEIRO, May 24 (Reuters) - Latin American currencies fell on Friday as strong U.S. manufacturing data added to fears of a possible tapering of U.S. stimulus, which provide a steady source of dollars seeking higher returns in emerging markets. Expectations that the U.S. Federal Reserve may soon reduce or even shut down its bond-buying program increased after a report showed orders for U.S. ...

Metals Stocks Gold backs off one-week high

Fri, 24 May 2013 10:34:17 -0400

MADRID (MarketWatch) -- Gold prices posted mild losses on Friday, backing away from a week-high settlement a day prior, and seeing little benefit from dollar weakness as investors readied for the long U.S. holiday ...

CORRECTED-BRIEF-Venaxis prices 10 million shares at $1.25 per share

Fri, 24 May 2013 10:34:09 -0400

Fri May 24, 2013 10:34am EDT (Corrects headline and second bullet to say that the company's shares were priced at $1.25 per share, not $1.36) May 23 (Reuters) - Venaxis Inc : * Announces pricing of offering of common stock and warrants * Says public offering of 10 million common shares priced at $1.25 per share * Source text for Eikon * Further company ...

UPDATE 1-SAP revamps management to focus on cloud computing

Fri, 24 May 2013 10:30:34 -0400

Fri May 24, 2013 10:30am EDT * SAP groups development under board member Sikka * Names board member Oswald to oversee HANA Enterprise Cloud * Says cloud chief Dalgaard to leave but remain adviser FRANKFURT, May 24 (Reuters) - German business software maker SAP said it was revamping its management to sharpen its focus on cloud computing as demand for the service which saves clients money ...

U.S. states support NJ with hands-off approach to luring tourists

Fri, 24 May 2013 10:29:41 -0400

By Michael Sadowski HARRISBURG | Fri May 24, 2013 10:29am EDT HARRISBURG Pa. May 24 (Reuters) - New Jersey, which launched the start of its summer season on Friday after many of its beaches were devastated by Superstorm Sandy last year, is getting support from neighboring state tourist agencies. Instead of trying to attract some of the 59 million tourists who visit the Jersey shore and ...

Passengers leaving Pakistani jet in Britain no one injured

Fri, 24 May 2013 10:28:44 -0400

LONDON | Fri May 24, 2013 10:28am EDT LONDON May 24 (Reuters) - Passengers were disembarking from a Pakistan International Airlines jet diverted to London's Stansted Airport on Friday and no one has been hurt, an airport spokesman said. British fighter jets escorted the passenger plane to Stansted airport where police went on board and arrested two men on suspicion of endangering an ...

TREASURIES-Prices gain 10-year yields fall below 2 percent

Fri, 24 May 2013 10:22:44 -0400

NEW YORK | Fri May 24, 2013 10:22am EDT NEW YORK May 24 (Reuters) - U.S. Treasuries extended their price gains on Friday and benchmark 10-year yields dipped below 2 percent as stocks fell and investors reevaluated whether the recent bond selloff is overdone. Ten-year notes rose 9/32 in price to yield 1.99 percent, down from a high of 2.04 percent earlier on Friday. Yields have largely ...

INSIGHT-Luxury brands position for U.S. boom

Fri, 24 May 2013 10:18:15 -0400

* Affluent U.S. consumers feel it's safe to spend again * China second to U.S. in 2012 luxury retail growth * Influx of tourists will help as Obama reworks visa wait * Top brands expanding across the United States By Astrid Wendlandt and ...

Orascom shareholders tender 10 pct in Altimo offer-source

Fri, 24 May 2013 10:18:15 -0400

CAIRO/MOSCOW, May 24 (Reuters) - Egypt's Orascom Telecom (OTH) is closer to being delisted, sources said on Friday, after holders of around 10 percent of its stock agreed to be bought ...

EURO GOVT-Bunds hit session high as investors seek safety

Fri, 24 May 2013 10:18:01 -0400

LONDON | Fri May 24, 2013 10:18am EDT LONDON May 24 (Reuters) - German Bunds hit session-highs on Friday as investors sought safety into the weekend, dumping riskier assets in favor of safe-haven bonds. German Bund futures hit a session high at 144.80, up 41 ticks on the day. Lower-rated debt came under further selling pressure and Italian and Spanish yields extended the day's rise. ...

GLOBAL MARKETS-Stimulus fears haunt share markets dollar recovers

Fri, 24 May 2013 10:16:46 -0400

Fri May 24, 2013 10:16am EDT * Shares tumble worldwide amid concerns about stimulus programs * Dollar recoups losses to trade flat vs euro after U.S. data * Oil set for biggest weekly drop since mid-April By Herbert Lash NEW YORK, May 24 (Reuters) - Global equity markets drifted lower on Friday as investors were beset by worries that central bank stimulus may be curtailed, but the dollar ...

Fed profits paid to U.S. Treasury slip in first quarter

Fri, 24 May 2013 10:13:18 -0400

WASHINGTON | Fri May 24, 2013 10:13am EDT WASHINGTON May 24 (Reuters) - Federal Reserve profits paid over to the U.S. Treasury dipped somewhat in the first quarter compared to a year ago, unaudited quarterly results for the U.S. central bank showed on Friday. The Fed transferred $15.3 billion in the first quarter versus $23.8 billion in the same period in 2012, reflecting in part a ...

CANADA FX DEBT-C$ tracks equities retreat as Fed concerns weigh

Fri, 24 May 2013 10:09:02 -0400

* C$ at C$1.0326 vs US$, or 96.84 U.S. cents * Equity and currency markets volatile on Fed stimulus concerns * Bond prices generally higher across curve By Solarina Ho TORONTO, May 24 (Reuters) - The Canadian dollar retreated against the U.S. dollar on Friday, in sync with weaker global equity markets and other commodity currencies, as investors worried that the U.S. Federal Reserve could rein in ...

Television wins new respect from movie elite at Cannes festival

Fri, 24 May 2013 10:08:32 -0400

Fri May 24, 2013 10:08am EDT * Television cited as leading the way in filmmaking * Steven Soderbergh among directors gravitating towards TV * Online delivery giving audiences more choice By Belinda Goldsmith CANNES, May 24 (Reuters) - Actors and directors gathered for the world's leading movie showcase in Cannes this week said television was increasingly luring top talent and should no longer ...

Mexican stocks fall more than 1 percent on Fed worries

Fri, 24 May 2013 10:07:34 -0400

MEXICO CITY | Fri May 24, 2013 10:07am EDT MEXICO CITY May 24 (Reuters) - Mexico's IPC stock index fell more than 1 percent on Friday on continued worries about a winding down of the U.S. Federal Reserve Bank's bond-buying program. The index fell 1.05 percent to 40,091.41 points, with telecoms giant America Movil and bottler Femsa ...

INVESTMENT FOCUS-Dollar builds steam unnerves emerging markets

Fri, 24 May 2013 10:07:23 -0400

By Mike Dolan LONDON | Fri May 24, 2013 10:07am EDT LONDON May 24 (Reuters) - As the dust settles on a volatile week, many strategists now sense a green light for a long-brewing multi-year rise of the U.S. dollar - with unnerving portents for emerging markets. The U.S. Federal Reserve's now open debate about the beginning of the end of its massive money-printing programmes caused ...

Dollar falls 1.1 pct vs yen to session low below 101 yen

Fri, 24 May 2013 10:03:22 -0400

NEW YORK | Fri May 24, 2013 10:03am EDT NEW YORK May 24 (Reuters) - The dollar fell 1.1 percent against the yen to a session low below the 101 yen level on Friday as investors adjusted positions ahead of the long U.S. Memorial Day weekend on the possibility of more volatility in Japanese financial markets. The dollar fell 1.1 percent to a session low of 100.87 yen and last traded at ...

U.S. weather-watcher satellite fails just before hurricane season

Fri, 24 May 2013 09:50:24 -0400

Fri May 24, 2013 9:50am EDT * Spare satellite activated but not moved * Troubleshooting efforts under way for GOES-13 * Satellite helps track weather off U.S. Atlantic Coast By Irene Klotz CAPE CANAVERAL, Fla., May 24, (Reuters) - A key satellite positioned to track severe weather in the eastern United States has failed, just as the 2013 Atlantic hurricane season is about to start. The U.S. ...

Paul Tudor Jones and Wall Streets Todd Akin moment

Fri, 24 May 2013 09:48:19 -0400

Hedge fund billionaire Paul Tudor Jones made controversial comments regarding women on Wall Street, saying babies are a "killer" to a woman's focus. Cosmopolitan's Joanna Coles, Alexandra Lebenthal and New York Magazine's Lisa Miller join Morning Joe to ...

Swings in Japan govt bonds could trigger sell-off

Fri, 24 May 2013 09:48:01 -0400

By Helen Bartholomew Fri May 24, 2013 9:48am EDT LONDON, May 24 (IFR) - Extreme volatility in the Japanese government bond market could trigger a sell-off on a par with what happened throughout the third quarter of 2003, when local banks and foreign investors were forced to dump their JGB holdings after heightened volatility caused the assets to exceed internal value-at-risk (VaR) ...

As Global Markets Stabilize Wall St. Slips

Fri, 24 May 2013 09:41:59 -0400

Wall Street opened lower and world stocks stabilized on Friday, and a positive report on United States durable goods orders set aside worries over the global economy. In early trading the Standard & ...

UPDATE 1-National Bank profit tops expectations dividend raised

Fri, 24 May 2013 09:41:00 -0400

TORONTO May 24 (Reuters) - National Bank of Canada reported a 6 percent increase in its quarterly operating profit on Friday, while also outlining plans to buy back shares and raise its quarterly ...

PG CEO switch will not lead to big strategy change-CFO

Fri, 24 May 2013 09:40:56 -0400

Shares of P&G rose to $81.90 in premarket trading after closing at $78.70 on Thursday, before the decision was announced. P&G, the maker of Tide detergent and Gillette razors, did not give a specific reason for McDonald's departure other than to say that he is retiring. McDonald is 59 and Lafley is ...

CANADA STOCKS-TSX opens lower on stimulus pullback fears

Fri, 24 May 2013 09:39:44 -0400

TORONTO, May 24 (Reuters) - Canada's main stock index opened lower on Friday, led by weaker financial and energy shares, as fears of an early end to the U.S. government bond-buying program offset data showing positive economic sentiment in Germany. The Toronto Stock Exchange's S&P/TSX composite index was down 33.62 points, or 0.27 percent, at 12,624.47 shortly after the ...

Bond Report Treasurys hold gains after durable goods

Fri, 24 May 2013 09:38:55 -0400

NEW YORK (MarketWatch) -- Treasurys held onto price gains Friday after a report on orders for long-lasting big-ticket items came in better than ...

Stocks to Watch Sears PG are Friday’s stocks to watch

Fri, 24 May 2013 09:38:52 -0400

NEW YORK (MarketWatch) -- Shares of Sears Holdings Corp. remained in play Friday after the retailer announced deep first-quarter losses, and P&G shares attracted attention in the wake of its executive shake ...

Indications Stock futures remain lower after durables data

Fri, 24 May 2013 09:38:51 -0400

NEW YORK (MarketWatch) -- U.S. stock index futures pointed to a lower start for Wall Street after briefly paring losses in the wake of data that showed orders for big-ticket items rose more than expected in ...

Brazil bank lending rises 1.1 pct in April defaults stable

Fri, 24 May 2013 09:37:17 -0400

BRASILIA/SAO PAULO | Fri May 24, 2013 9:37am EDT BRASILIA/SAO PAULO May 24 (Reuters) - Outstanding loans in Brazil's banking system grew 1.1 percent in April from March, the central bank said on Friday. Loans in arrears for 90 days or more, an industry benchmark for delinquencies, remained unchanged at 5.5 percent of outstanding loans last month, the bank ...

US STOCKS SNAPSHOT-Wall Street falls at open as Fed plans gauged

Fri, 24 May 2013 09:32:57 -0400

NEW YORK | Fri May 24, 2013 9:32am EDT NEW YORK May 24 (Reuters) - U.S. stocks fell at the open on Friday, putting Wall Street on track for its first weekly decline since mid April, amid concern the U.S. central bank may scale back its support to the economy. The Dow Jones industrial average dropped 61.13 points, or 0.40 percent, to 15,233.37. The Standard and Poor's 500 Index lost ...

Deals of the day -- mergers and acquisitions

Fri, 24 May 2013 09:30:53 -0400

Fri May 24, 2013 9:30am EDT May 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday: ** Manitoba Telecom Services Inc said on Friday it has struck a deal to sell its Allstream business, a fiber optic network stretching across Canada, to Accelero Capital Holdings for C$520 million ($502.8 million), including debt assumed by the ...

Air China to buy 100 Airbus aircraft for $8.9 bln

Fri, 24 May 2013 09:18:45 -0400

HONG KONG | Fri May 24, 2013 9:18am EDT HONG KONG May 24 (Reuters) - Air China Ltd will pay a basic price of $8.9 billion for 100 new Airbus aircraft, the company said in an announcement filed with the Hong Kong stock exchange on Friday. Air China said it will purchase 60 Airbus 320-series aircraft for $5.37 billion, taking delivery of the aircraft between 2014 and 2020. It said its ...

WRAPUP 1-U.S. durable goods orders rise point to factory resilience

Fri, 24 May 2013 09:15:00 -0400

* Orders for long-lasting goods rise 3.3 percent in April * Gauge of business spending plans climbs * Military capital goods shipments fall By Jason Lange WASHINGTON, May 24 (Reuters) - Orders for long-lasting U.S. manufactured goods rose more than expected in April, a hopeful sign that a contraction in factory output could soon run its course. New orders for durable goods, which range from ...

Disruptions tighten copper supply surplus narrows

Fri, 24 May 2013 09:10:55 -0400

Fri May 24, 2013 9:10am EDT * Copper surplus forecast at 98,500 T in Reuters April poll * Some analysts scaling back forecasts after mining problems * Potential for labour strife in Chile ahead of elections By Melanie Burton and Eric Onstad SINGAPORE/LONDON, May 24 (Reuters) - A series of copper mine shutdowns and supply logjams has prompted some analysts to scale down forecasts for a market ...

Fannie Mae to sell $2 bln bills on May 29

Fri, 24 May 2013 09:04:17 -0400

Fri May 24, 2013 9:04am EDT May 24 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Friday it plans to sell $2 billion of benchmark bills on May 29. The sale will consist of $1 billion of three-month bills, due Aug. 28, 2013, and $1 billion of six-month bills, due Nov. 27, 2013. Settlement is May ...

FOREX-Euro gains after strong German Ifo yen firms

Fri, 24 May 2013 08:59:28 -0400

* Euro gains as better Ifo makes ECB easing less likely * German Ifo business climate survey well above forecasts * Yen stays firm versus dollar after strong gains Thursday By Jessica Mortimer LONDON, May 24 (Reuters) - The euro rose against the dollar on Friday after a German business sentiment ...

Wall Street futures rise after chaotic day in Japan

Fri, 24 May 2013 08:54:09 -0400

U.S. stock futures rise Stock futures on Wall Street were falling ahead of the start to regular trading on Friday as markets in Japan saw heightened volatility.Dow Jones industrial average index stock futures fell 0.2%, Standard & Poor's 500 index stock futures lost 0.4% and Nasdaq 100 index stock futures were also down 0.4%.On Thursday, the Dow and Nasdaq index closed the session down ...

Another downer day on Wall Street

Fri, 24 May 2013 08:53:04 -0400

Nikkei , which plunged 7% Thursday, finished a rocky trading day with a 0.9% gain. "In Tokyo we've seen an attempt at a recovery," said Nick Beecroft, senior market analyst at Saxo Capital Markets. "That's a pretty normal profile for market action in a correction such as ...

UPDATE 2-U.S. tornado insured losses estimated at $2 bln-$5 bln

Fri, 24 May 2013 08:52:59 -0400

Fri May 24, 2013 8:52am EDT May 24 (Reuters) - Tornadoes that struck the United States from May 18 to May 20 caused between $2 billion to $5 billion of insured losses, disaster modeling company Eqecat said late Thursday. At the high end of the range, the tornado outbreak may rank as the second-worst ever in terms of insured losses, behind the late-April 2011 twisters that devastated Tuscaloosa, ...

STXNEWS LATAM-BofA recommends Brazil property shares on uncertain policy

Fri, 24 May 2013 08:52:11 -0400

Fri May 24, 2013 8:52am EDT Investors ought to maintain exposure to Brazilian shares that help them hedge against policy uncertainty and inflation or pay high dividends, analysts at Bank of America Merrill Lynch said on Friday. A basket of so-called defensive stocks in sectors such as utilities and commercial property has outperformed the benchmark Bovespa stock index by 14.5 percent, despite ...

Manitoba Telecom to sell fiber optic network to Accelero

Fri, 24 May 2013 08:51:48 -0400

TORONTO | Fri May 24, 2013 8:51am EDT TORONTO May 24 (Reuters) - Manitoba Telecom Services Inc said on Friday it has struck a deal to sell its Allstream business, a fiber optic network stretching across Canada, to Accelero Capital Holdings for C$520 million ($502.8 million), including debt assumed by the buyer. Winnipeg-based Manitoba Telecom last year said it had begun a wide-ranging ...

REFILE-EURO DEBT SUPPLY-Italy Belgium Netherlands to sell debt next week

Fri, 24 May 2013 08:48:37 -0400

LONDON, May 24 (Reuters) - Italy, the Netherlands and Belgium plan to sell bonds next week, expecting to raise an estimated combined total of about 16-17 billion euros. * Belgium aims to raise between 2.9 billion and 3.9 billion euros on Tuesday, when it sells five, 10 and 20-year benchmark bonds as well as a 2035 non-benchmark bond. Netherlands plans to issue up to 3 billion euros of 10-year ...

US STOCKS SNAPSHOT-Futures trim declines after durable goods

Fri, 24 May 2013 08:37:14 -0400

NEW YORK | Fri May 24, 2013 8:37am EDT NEW YORK May 24 (Reuters) - U.S. stock index futures trimmed declines on Friday after data showed orders for durable goods rose more than expected last month, providing an encouraging sign for the factory sector. S&P 500 futures were down 5.7 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, ...

TREASURIES-Prices turn negative on strong durable goods data

Fri, 24 May 2013 08:36:13 -0400

NEW YORK | Fri May 24, 2013 8:36am EDT NEW YORK May 24 (Reuters) - U.S. Treasuries yields rose on Friday and prices turned negative after data showed that orders for long-lasting U.S. manufactured goods rose more than expected in April. Benchmark 10-year note yields increased to 2.03 percent, from around 2.01 before the ...

EURO GOVT-Bund futures briefly erase gains after U.S. data

Fri, 24 May 2013 08:35:51 -0400

LONDON | Fri May 24, 2013 8:35am EDT LONDON May 24 (Reuters) - Bund futures briefly erased gains on Friday after data showed orders for U.S. manufactured goods rose more than expected in April. Bund futures fell as low as 144.34 immediately after the release, before rebounding to last trade 8 ticks higher on the day at ...

Update-Moodys Fully Supported Municipal IRB Deals

Fri, 24 May 2013 08:32:31 -0400

Fri May 24, 2013 8:32am EDT J.P. Morgan Securities ...

Update-Moodys Affirms 19 CMBS classes of WBCMT 2005-C16

Fri, 24 May 2013 08:30:17 -0400

Fri May 24, 2013 8:30am EDT Wachovia Bank Commercial Mortgage ...

TABLE-U.S. April durable goods orders rose 3.3 pct

Fri, 24 May 2013 08:30:02 -0400

Fri May 24, 2013 8:30am EDT May 24 (Reuters) - U.S. Commerce Department seasonally adjusted data on durable goods orders, with percent changes from prior months. PERCENT CHANGES: April March Feb New Orders 3.3 -5.9 6.4 Ex-Transportation 1.3 -1.7 -0.2 Ex-Defense 2.1 -4.4 5.4 Manufacturing with ...

Petrobras sells 12 pct stake in Tanzania bloc to Statoil

Fri, 24 May 2013 08:29:11 -0400

SAO PAULO | Fri May 24, 2013 8:29am EDT SAO PAULO May 24 (Reuters) - State-run Petrleo Brasileiro SA, which is undertaking a major drive to sell assets outside Brazil, sold a 12 percent stake in a Tanzania bloc to a unit of Statoil AS, according to a securities filing on Friday. The Brazilian company, commonly known as Petrobras , sold the stake in Bloc 6, located off Tanzania in the ...

Update-Moodys affirms 16 CMBS classes of GSMS 2005-GG4

Fri, 24 May 2013 08:18:23 -0400

Fri May 24, 2013 8:18am EDT GS Mortgage Securities Corporation ...

US STOCKS-Futures fall Wall Street set for weekly decline

Fri, 24 May 2013 08:15:20 -0400

Fri May 24, 2013 8:15am EDT * Durable goods orders on tap * P&G shares rise after CEO replacement * Abercrombie shares fall after results * Futures off: Dow 43 pts, S&P 7 pts, Nasdaq 14 pts By Rodrigo Campos NEW YORK, May 24 (Reuters) - U.S. stock index futures fell on Friday, setting up Wall Street for its first weekly decline since mid April, amid concern the central bank may scale back its ...

UPDATE 3-BA jet makes emergency landing after engine fire

Fri, 24 May 2013 08:13:24 -0400

Fri May 24, 2013 8:13am EDT * BA jet bound for Oslo makes emergency landing at London Heathrow * Right engine burst into flames, casing of left engine ripped off * BA cancels short-haul flights to and from Heathrow until 1500 GMT By Rhys Jones and Kate Holton LONDON, May 24 (Reuters) - A British Airways plane with 80 people on board made an emergency landing at London's Heathrow airport on ...

Update-Moodys assigns backed A2P-1 issuer ratings to Natixis Securities Americas LLC

Fri, 24 May 2013 08:11:42 -0400

Fri May 24, 2013 8:11am EDT Natixis Securities Americas ...

TABLE-Revisions to building permits-Commerce Dept

Fri, 24 May 2013 08:11:10 -0400

Fri May 24, 2013 8:11am EDT May 24 (Reuters) - The Commerce Department on Friday revised U.S. building permit data issued on May 16. Preliminary data are also included for comparison. PCT CHANGE Apr (Prev) Mar (Prev) Apr'13/12 (Prev) Permits 12.9 14.3 -6.5 -6.5 34.2 35.8 RATES Apr (Prev) Mar (Prev) Apr'12 (Prev) Permits ...

National Bank announces results share buyback boosts dividend

Fri, 24 May 2013 08:10:04 -0400

TORONTO | Fri May 24, 2013 8:10am EDT TORONTO May 24 (Reuters) - National Bank of Canada reported a 6 percent increase in its quarterly operating profit on Friday, while also outlining plans to buy back shares and raise its quarterly dividend. The Montreal-based bank said its board has authorized the repurchase of up to 2 percent of its common shares, along with a 5 percent increase in ...

BRIEF-Procter and Gamble CFO says CEO change is not indicative of any bigger problem or financial issue

Fri, 24 May 2013 08:10:02 -0400

CHICAGO | Fri May 24, 2013 8:10am EDT CHICAGO May 24 (Reuters) - Procter and Gamble Co : * CFO says CEO change is not indicative of any bigger problem or financial issue * CFO says no change in fundamental strategies and ...

Manchester United To Redeem Bonds Via New Loan Facility

Fri, 24 May 2013 08:07:52 -0400

Merrill Lynch has provided a new committed facility to fund the bond redemption, the company said. The facility pays L+150-275, the football club added. The company has been repurchasing the bonds in the open market, and during the nine months it had repurchased and retired £62.6 million ($101.7 million) of the secured notes, for a total consideration of £67.9 million. For the third ...

Bankia nears sale of Florida bank for $900 million source

Fri, 24 May 2013 08:01:48 -0400

MADRID | Fri May 24, 2013 8:01am EDT MADRID (Reuters) - Spanish nationalized lender Bankia (BKIA.MC) is close to completing the sale of City National Bank of Florida for about $900 million, a banking source involved in the negotiations said. "The negotiations are in the final phase with Chile's Banco de Credito e Inversiones (BCI) at a price of about $900 million," the source ...

EMERGING MARKETS-US yields weigh stocks head for 2nd straight weekly loss

Fri, 24 May 2013 08:00:49 -0400

Fri May 24, 2013 8:00am EDT LONDON May 24 (Reuters) - Emerging stocks and currencies posted modest gains on Friday after reassurances the U.S. Fed would not hastily withdraw policy stimulus, but the main equity index was headed for its biggest weekly loss since early April. While a better-than-expected reading for Germany's Ifo business climate index provided some support for central Europe, ...

COLUMN-Three reasons why the golden age of dividends is dawning

Fri, 24 May 2013 07:59:59 -0400

Fri May 24, 2013 7:59am EDT By John Wasik CHICAGO May 24(Reuters) - The golden days of summer might also brighten the portfolios of dividend lovers. With most large corporations swimming in cash as the economy and earnings improve, adopting a dividend-centric strategy looks even more promising for moderate-risk investors. Dividends, the portion of earnings that corporations pass along to ...

CORRECTED-Dish and nTelos to jointly develop broadband service

Fri, 24 May 2013 07:53:29 -0400

Fri May 24, 2013 8:40am EDT (Corrects paragraph 5 to say Dish is in takeover battles for, not with, Sprint Nextel and Clearwire) May 24 (Reuters) - Satellite TV provider Dish Network Corp and wireless network provider nTelos Holdings Corp said they would jointly develop a broadband service within nTelos's coverage territory serving parts of Virginia, Maryland and a few other states. Dish ...

UPDATE 1-Abercrombie Fitch same-store sales crater stock drops

Fri, 24 May 2013 07:51:09 -0400

Fri May 24, 2013 7:51am EDT May 24 (Reuters) - Abercrombie and Fitch Co on Friday reported a steeper-than-expected drop in quarterly comparable sales, in part because of inventory shortages, and the teen clothing retailer's shares fell more than 11 percent. Sales at stores open at least a year combined with online sales fell 15 percent. The decline was most pronounced at the Hollister chain, ...

RPT-Fitch affirms Russias Eurasia Drilling Company at BB outlook stable

Fri, 24 May 2013 07:50:12 -0400

Fri May 24, 2013 7:50am EDT May 24 (Reuters) - (The following statement was released by the rating agency) Fitch Ratings has affirmed Eurasia Drilling Company Limited's (EDC) Long-term foreign currency Issuer Default Ratings (IDR) at 'BB' with a Stable Outlook. Fitch also affirmed the 'BB' senior unsecured ratings of the RUB5bn domestic bonds due in 2018 issued by EDC's ...

Sinopecs Addax seeks more North Sea investments

Fri, 24 May 2013 07:48:45 -0400

Fri May 24, 2013 7:48am EDT * Says evaluating several targets, hopes for 2013 deal * Follows two multi-billion Chinese purchases last year * Addax traditionally strong in west Africa By Emma Farge GENEVA, May 24 (Reuters) - Sinopec subsidiary Addax Petroleum wants to buy more North Sea assets this year, its Chief Executive said, in a sign that Chinese firms may further boost their regional ...

EURO GOVT-Bunds reverse losses on peripheral equity weakness

Fri, 24 May 2013 07:45:14 -0400

LONDON | Fri May 24, 2013 7:45am EDT LONDON May 24 (Reuters) - German Bund futures reversed losses on Friday as weak equity markets prompted investors to buy German debt and take profit on riskier, lower-rated paper. Bund futures were up 16 basis points at 144.56, having hit two-month lows earlier in the day after German Ifo business survey beat forecasts. Ten-year Italian and Spanish ...

Indias cbank did not buy or sell bonds via OMOs in week to May 17

Fri, 24 May 2013 07:34:11 -0400

MUMBAI | Fri May 24, 2013 7:34am EDT MUMBAI May 24 (Reuters) - The Reserve Bank of India did not buy or sell any debt in the week to May 17 through outright open market operations (OMOs), it said in a statement on Friday. The central bank bought 96.58 billion rupees ($1.7 billion) of bonds through outright OMOs in the previous week but did not sell any bonds in that week. ($1=55.7 ...

BRIEF-Procter and Gamble shares rise 2.9 percent in premarket trading

Fri, 24 May 2013 07:32:23 -0400

NEW YORK | Fri May 24, 2013 7:32am EDT NEW YORK May 24 (Reuters) - Procter and Gamble Co : * Shares rise 2.9 percent in premarket ...

HSBC leads European shares lower in jittery trade

Fri, 24 May 2013 07:30:02 -0400

Fri May 24, 2013 7:30am EDT * FTSEurofirst 300 down 0.5 pct, FTSE 100 down 0.7 pct * HSBC drags indexes on fears about U.S. case settlement * Selling pressure piles up as indexes test support By Francesco Canepa LONDON, May 24 (Reuters) - European shares edged lower on Friday, dragged down by heavyweight bank HSBC and some technical selling as key indexes tested support levels, igniting concerns ...

Brazils CPFL Renovveis revives IPO plans as market gains steam

Fri, 24 May 2013 07:20:52 -0400

SAO PAULO | Fri May 24, 2013 7:20am EDT SAO PAULO May 24 (Reuters) - CPFL Energias Renovveis SA, the alternative energy unit of Brazilian utility CPFL Energia SA , revived plans for an initial public offering, seven months after scrapping them on concern of growing government meddling in the electricity sector. The Sao Paulo-based company said late on Thursday it asked regulators to ...

Fiat Chairman said group never tried not to pay taxes in Italy

Fri, 24 May 2013 07:18:48 -0400

BAGNIA, Italy | Fri May 24, 2013 7:18am EDT BAGNIA, Italy May 24 (Reuters) - Fiat Chairman John Elkann, at the centre of a political controversy in Italy over plans by truck and tractor maker Fiat Industrial to move its fiscal residence to Britain, said his group had never tried not to pay taxes in Italy, "This is just argument for argument's sake, it is not the reality. No one ...

UPDATE 1-Switzerlands top tax diplomat to step down

Fri, 24 May 2013 07:18:31 -0400

Fri May 24, 2013 7:18am EDT * Ambuehl chief negotiator in U.S. tax talks * Also leads talks with EU over corporate tax * Swiss Fin Min signalled deal could come soon ZURICH, May 24 (Reuters) - Switzerland's top representative on international financial affairs will step down at the end of August, the finance ministry said on Friday, as negotiations with the United States and the European ...

RPT-Fitch Affirms OHL BB- Outlook Stable

Fri, 24 May 2013 07:17:18 -0400

Fri May 24, 2013 7:17am EDT May 24 (Reuters) - (The following statement was released by the rating agency) Fitch Ratings has affirmed Obrascon Huarte Lain's (OHL) Long-term Issuer Default (IDR) and senior unsecured ratings at 'BB-'. The Short-term IDR is affirmed at 'B' and Outlook Stable. OHL's business is split between construction activities financed with unsecured ...

Brazil consumer confidence index falls in May - FGV

Fri, 24 May 2013 07:17:18 -0400

SAO PAULO | Fri May 24, 2013 7:17am EDT SAO PAULO May 24 (Reuters) - An index that measures consumer confidence in Brazil fell to a reding of 113.4 in May from 113.9 in April, research group Fundao Getulio Vargas said on ...

BRIEF-Abercrombie Fitch shares down 7.1 pct premarket

Fri, 24 May 2013 07:17:00 -0400

NEW YORK | Fri May 24, 2013 7:17am EDT NEW YORK May 24 (Reuters) - Abercrombie and Fitch Co : * Shares down 7.1 percent in premarket trading after ...

China to issue 26b yuan in two-year T-bonds

Fri, 24 May 2013 07:13:43 -0400

The Ministry of Finance (MOF) said Friday that it will sell 26 billion yuan (4.2 billion US dollars) in two-year book-entry treasury bonds. The issuance marks the ministry's 12th issuance of book-entry treasury bonds this year, the ministry said in a statement on its website. ( The bonds carry a fixed annual interest rate of 2.98 percent. The interest will be paid every year on May 27, ...

EURO GOVT-Bunds hit two-month lows on stronger German Ifo

Fri, 24 May 2013 07:07:32 -0400

Fri May 24, 2013 7:07am EDT * German Ifo rises more than expected in May * Contrasting euro zone/U.S. outlooks to keep Bunds volatile * German debt seen increasingly sensitive to data By Marius Zaharia LONDON, May 24 (Reuters) - Bund futures hit two-month lows on Friday after the German Ifo business survey beat forecasts, although the grim outlook for the euro zone economy limited losses. The Ifo ...

New PG CEO to get base salary of $2 million

Fri, 24 May 2013 07:05:43 -0400

Fri May 24, 2013 7:05am EDT May 24 (Reuters) - Procter and Gamble Co will pay A.G. Lafley, the former chief executive it brought back on Thursday to run the world's largest household products maker, a base salary of $2 million a year, it said in a regulatory filing on Friday. Lafley, who was CEO 2000 to 2009, on Thursday replaced his successor, Bob McDonald, and was also named chairman and ...

Group linked to Algeria gas plant attack claims Niger raids

Fri, 24 May 2013 06:55:30 -0400

ABIDJAN (Reuters) - An al Qaeda-linked group that carried out the raid on the In Amenas gas plant in Algeria in January has claimed to have participated in Thursday's attacks in ...

METALS-Copper steady as investors ponder U.S. Chinese data

Fri, 24 May 2013 06:43:26 -0400

By Silvia Antonioli and Manolo Serapio Jr LONDON/SINGAPORE, May 24 (Reuters) - Copper was little changed on Friday as investors weighed the potential impact on metals demand of Thursday's data providing a more upbeat U.S. jobs picture but also showing slower industrial activity in top metals consumer China. Benchmark copper on the London Metal Exchange traded at $7,288.50 a tonne by 0958 GMT, ...

InterOil in talks with Exxon to develop Papua New Guinea assets

Fri, 24 May 2013 06:42:31 -0400

Fri May 24, 2013 6:42am EDT May 24 (Reuters) - Liquefied natural gas producer InterOil Corp and its joint venture partner have entered into exclusive negotiations with Exxon Mobil Corp to develop gas fields in Papua New Guinea. The discussions include the possibility of an Exxon unit, ExxonMobil Papua New Guinea Ltd, taking an interest in petroleum retention license 15, InterOil said. InterOil ...

Update-Moodys upgrades UK Non-Conforming RMBS notes issued by RMAC 2004-NSP2 PLC

Fri, 24 May 2013 06:41:19 -0400

Fri May 24, 2013 6:41am EDT RMAC 2004-NSP2 ...

GLOBAL MARKETS-Shares steady but stimulus fears still present

Fri, 24 May 2013 06:38:55 -0400

Fri May 24, 2013 6:38am EDT * World shares attempt tentative recovery * Fed officials try to reassure on stimulus timing * Euro gains as better Ifo makes ECB easing less likely By Richard Hubbard LONDON, May 24 (Reuters) - World share markets looked vulnerable to further falls on Friday, with better economic news from Europe doing little to encourage investors who are worried that central bank ...

Japan life insurers may keep money at home as bond yields rise

Fri, 24 May 2013 06:32:26 -0400

By Taiga Uranaka TOKYO | Fri May 24, 2013 6:32am EDT TOKYO May 24 (Reuters) - Japanese life insurers are giving signs that they may not send much more of their $3 trillion in assets abroad this year, as Japanese government bond yields start picking up, despite hinting last month that they might boost their foreign bond holdings to seek higher returns. Investors have been spurred to ...

UPDATE 1-Novo obesity drug could launch in U.S. end 2014

Fri, 24 May 2013 06:20:35 -0400

Fri May 24, 2013 6:20am EDT * Sees U.S. launch of liraglutide end 2014 or early 2015 * Analysts divided on likely commercial success * Bulls see peak sales of $4 bln, but reimbursement key * Novo shares up 0.7 percent, outperforming sector COPENHAGEN, May 24 (Reuters) - Danish drug maker Novo Nordisk said it could launch obesity treatment liraglutide in the United States by the end of next year ...

Commodities Corner What gold silver mining investors should do next

Fri, 24 May 2013 06:14:08 -0400

SAN FRANCISCO (MarketWatch) -- A 40% year-to-date drop in benchmark indexes for gold and silver mining shares isn't a good reason to hate ...

Global follow-on share offerings hit all-time high

Fri, 24 May 2013 06:12:11 -0400

LONDON | Fri May 24, 2013 6:12am EDT LONDON May 24 (Reuters) - Global follow-on share sale volumes have hit their highest year-to-date level since records began in 1980, powered by sellers taking advantage of rallying stock markets, Thomson Reuters data showed on Friday. According to the data, follow-on activity, which includes share offerings such as stake sales and rights issues, ...

German Q2 GDP growth to outpace first quarter considerably - Ifo economist

Fri, 24 May 2013 06:09:39 -0400

European Central Bank to a historic low of 0.50 percent has had only a psychological effect in Germany, if at all. Earlier, the Munich-based Ifo think tank's business climate index for May improved to 105.7 from 104.4 in April, while the German statistics office confirmed that gross domestic product rose by a tepid 0.1 percent in the first quarter over the three months to December. ...

UPDATE 1-Academics back BPs fight to cap oil spill payouts

Fri, 24 May 2013 06:08:12 -0400

Fri May 24, 2013 6:08am EDT * Claims, payout rate may mean charge against 2014 profit * Accountancy professors represented by top lawyer * Appeal hearing set for July 8 By Andrew Callus LONDON, May 24 (Reuters) - A group of accountancy professors is backing BP's fight to cap the U.S. oil spill compensation payouts it has to fund as the cash outflow threatens to add billions of dollars to its ...

Banks in the spotlight in debate over UK listing rules

Fri, 24 May 2013 06:07:03 -0400

By Clara Ferreira-Marques and Kylie MacLellan LONDON (Reuters) - As Britain's stock market watchdog pores over the implications of scandals at mining companies ENRC and Bumi, the role of sponsor banks who helped lead their listings is coming ...

Tighter oil market will boost unloved energy stocks-Investec

Fri, 24 May 2013 06:04:27 -0400

Fri May 24, 2013 6:04am EDT * U.S. shale oil production will disappoint * Market will tighten quickly going into the summer * Gas and oilfield services companies seen benefiting By Claire Milhench LONDON, May 24 (Reuters) - A tighter oil market in the second half of 2013 will boost some energy stocks, which have trailed the rest of the equity market though the rally, said Charles Whall, ...

The European currencies and yen open on a relatively firm tone

Fri, 24 May 2013 06:04:07 -0400

The appetite for risk is mixed ahead of the US open after improving in the second half of Thursday. Now that the market had a chance to analyze Wednesday's Federal Reserve reiteration of the likely scaling back its asset purchase program in June and saw Germany's good Ifo report, volatility must subside. But it persisted for the Nikkei 225. The European currencies and yen open on a ...

RPT-UPDATE 2-German outlook brightens as businesses become more upbeat

Fri, 24 May 2013 05:59:55 -0400

Fri May 24, 2013 5:59am EDT * Ifo index picks up more than expected in May * Private consumption drove Q1 economic growth * Consumers also likely to support weak expansion this year By Sarah Marsh BERLIN, May 24 (Reuters) - German business morale improved far more than expected in May, rebounding after two months of falls and suggesting Europe's largest economy is slowly picking up speed ...

RPT-Fitch More Consumer Firms to Follow PMI With Minority Buy-Outs

Fri, 24 May 2013 05:58:16 -0400

Fri May 24, 2013 5:58am EDT May 24 (Reuters) - (The following statement was released by the rating agency) Philip Morris International's deal to buy out a minority shareholder in its Mexican subsidiary is the sort of acquisition we expect to see repeated by other consumer goods companies over the next few years, Fitch Ratings says. When companies make acquisitions or set up these emerging ...

UPDATE 1-Bank of Englands Fisher says does not want U.S.-style QE pledge

Fri, 24 May 2013 05:47:39 -0400

Fri May 24, 2013 5:47am EDT By William Schomberg CARDIFF May 24 (Reuters) - A Bank of England policymaker said on Friday he favoured small additional amounts of bond purchases over time, but not a hard-to-manage commitment to longer-term stimulus like that of the U.S. Federal Reserve. "I don't think I want to get into the American position of saying it is indefinite and then ...

European shares edge lower led by banks autos

Fri, 24 May 2013 05:44:44 -0400

LONDON | Fri May 24, 2013 5:44am EDT LONDON May 24 (Reuters) - European shares edged lower on Friday, led by auto and banking shares as investor sentiment remained shaky on concerns about a possible rolling back of U.S. monetary stimulus. The pan-European FTSEurofirst 300 index was down 0.4 percent at 1,225.26 points at 0941 GMT, with selling momentum accelerating as the index ...

PRESS DIGEST-Canada-May 24

Fri, 24 May 2013 05:41:34 -0400

Fri May 24, 2013 5:41am EDT May 24 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy. THE GLOBE AND MAIL * Toronto Mayor Rob Ford's executive committee is preparing to take the extraordinary step of publicly urging the troubled leader to confront allegations of drug use, and is making ...

PRESS DIGEST-Canada-May 24

Fri, 24 May 2013 05:41:34 -0400

UPDATE 1-Morgan Stanley names Leleu Cheng in Asia ECM shakeup

Fri, 24 May 2013 05:23:32 -0400

Fri May 24, 2013 5:23am EDT HONG KONG May 24 (Reuters) - Morgan Stanley has named Jerome Leleu and Mille Cheng as co-heads of Asia Pacific equity capital markets in a shakeup of its management of that division, according to an internal memo obtained by Reuters on Friday. The pair replace Justin Haik, who takes on a newly created senior client relationship role in the same unit, the memo ...

Market turbulence poses first serious test for Abenomics

Fri, 24 May 2013 05:17:59 -0400

By William MallardTOKYO (Reuters) - This week's turbulence in Tokyo markets exposes a key risk of Prime Minister Shinzo Abe's all-in strategy to revive Japan's economy - if investor confidence falters, the government and the Bank of Japan may be left with few options to turn the tide.On Friday, the Nikkei share average had another tumultuous session, traversing a 7.1 percent range ...

REFILE-BRIEF-InterOil Pacific LNG enter into negotiations with ExxonMobil on Elk Antelope fields

Fri, 24 May 2013 05:08:12 -0400

Fri May 24, 2013 5:08am EDT May 24 (Reuters) - InterOil Corp : * Interoil and Pacific LNG group enter into exclusive negotiations with ExxonMobil on development of the elk and antelope resource * Says there will be staged payments before and after production commences * Says transaction discussed with government of papua new guinea * Source text for Eikon * Further company ...

US retailer bonds fall behind as shoppers spend less

Fri, 24 May 2013 05:07:45 -0400

Bonds of US retailers from Target to Wal-Mart Stores are posting their worst losses since 2006 amid smaller consumer income and slowing growth in the US economy, even as the broader corporate debt market generates ...

Morgan Stanley names new co-heads of Asia-Pacific ECM -memo

Fri, 24 May 2013 05:01:59 -0400

HONG KONG | Fri May 24, 2013 5:01am EDT HONG KONG May 24 (Reuters) - Morgan Stanley has named Jerome Leleu and Mille Cheng as co-heads of equity capital markets in the Asia Pacific region, according to an internal memo obtained by Reuters on Friday. The pair replace Justin Haik, who takes on a newly created senior client relationship role in the same division, the memo said. Leleu joined ...

DIARY-NON SP WEEK AHEAD

Fri, 24 May 2013 04:52:24 -0400

THOMSON REUTERS, Diary of Non S&P 500 Corporate earnings for U.S. companies from May 24, 2013. S&P 500 Earnings - Monthly S&P 500 Earnings - Day Ahead S&P 500 Earnings - Weekly Non S&P 500 - Day Ahead ConferenceCall/Webcast - Weekly ConferenceCall/Webcast - Day Meetings - ...

Soccer club Man Utd refinances to cut interest costs

Fri, 24 May 2013 04:50:40 -0400

LONDON | Fri May 24, 2013 4:50am EDT LONDON May 24 (Reuters) - English soccer champions Manchester United have trimmed 10 million pounds ($15 million) off the annual interest bill on their debt through a refinancing arranged by Bank of America. The move could free up more cash to help new team manager David Moyes to strengthen his team for next season after taking over from Alex ...

Mando China delays up to $270 mln HK IPO on adverse markets

Fri, 24 May 2013 04:49:55 -0400

HONG KONG | Fri May 24, 2013 4:49am EDT HONG KONG May 24 (Reuters) - Mando China Holdings Ltd, controlled by South Korean auto parts maker Mando Corp , said on Friday it decided to postpone an initial public offering in Hong Kong because of "adverse market conditions" and "significant market volatility." Mando China and its controlling shareholder Mando Corp last week ...

Runways at Heathrow Airport shut after BA incident

Fri, 24 May 2013 04:48:36 -0400

LONDON (Reuters) - London's Heathrow Airport closed both its runways on Friday following an incident with a British Airways plane, the airport operator ...

RPT-BA jet turns back to Heathrow after technical fault

Fri, 24 May 2013 04:48:14 -0400

Fri May 24, 2013 4:48am EDT LONDON May 24 (Reuters) - A British Airways A319 plane bound for Oslo from London's Heathrow airport was forced to turn back and land in London due to a technical fault, the UK airline said on Friday. BA said the Airbus A319 aircraft was carrying 75 customers and that it landed safely at Heathrow. "The BA762, Heathrow to Oslo service, returned back to Heathrow ...

Indonesia sets domestic soybean price floor to protect farmers

Fri, 24 May 2013 04:41:31 -0400

By Yayat Supriatna JAKARTA | Fri May 24, 2013 4:41am EDT JAKARTA May 24 (Reuters) - Indonesia will impose a floor on the price of soybeans that traders buy domestically to protect farmers, while setting prices traders charge some customers for the oilseed as it looks to curb possible food inflation. The country's deputy trade minister also said on Friday that the country's beef ...

UPDATE 2-Mbishi Motors manoeuvres to end 15-yr dividend drought

Fri, 24 May 2013 04:38:01 -0400

Fri May 24, 2013 5:57am EDT * Company seeks capital reorganisation * To reduce capital stock, clear $9 bln of accumulated losses * Also proposes 10-for-1 reverse stock split * Shares close up 2.5 pct By Yoko Kubota TOKYO, May 24 (Reuters) - Mitsubishi Motors Corp, the Japanese maker of Triton pickups, the Outlander Sport SUV and i-MiEV electric car, wants shareholders to approve a capital ...