Reuters: Business News

Analysis - Little sign Abe can shake up Japan's inbound FDI

Sun, 19 May 2013 21:26:04 GMT

TOKYO (Reuters) - Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades.

Yahoo's board approves Tumblr acquisition -WSJ

Sun, 19 May 2013 20:35:50 GMT

SAN FRANCISCO (Reuters) - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion (724 million pounds) in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday.

ENRC details founders' $2.3 billion cash-and-share bid plan

Sun, 19 May 2013 15:47:55 GMT

LONDON (Reuters) - Kazakhstan's government and the trio of founders behind miner ENRC , seeking to take the company private, have offered shares in rival Kazakhmys as well as cash in an indicative proposal valuing the group at just under $5 billion (£3.3 billion).

MPs consider probe into transparency of mining firms

Sun, 19 May 2013 15:38:27 GMT

LONDON (Reuters) - Britain's parliament will this week consider whether to probe the transparency of oil and mining firms listed in London, an issue highlighted by corruption probes at emerging market miners which MPs fear have dented the stock market's reputation.

Analysis - Frontier Markets booming but risks mounting

Sun, 19 May 2013 13:31:01 GMT

NEW YORK (Reuters) - With the world's biggest central banks driving yields on safe assets to near zero, some investors are tossing caution to the wind and rushing to buy illiquid and previously overlooked bonds sold by countries with no capital markets track record.

Exclusive - South Africa's NUM seeks 15-60 percent wage rises from gold, coal producers

Sun, 19 May 2013 13:19:58 GMT

JOHANNESBURG (Reuters) - South Africa's National Union of Mineworkers said it would seek pay rises of up to 60 percent from gold and coal producers, raising the prospect of fresh strikes as firms battle higher costs and falling prices in an already heated labour climate.

German minister calls EU move on China solar 'grave mistake'

Sun, 19 May 2013 12:49:29 GMT

BERLIN (Reuters) - German Economy Minister Philipp Roesler said the European Commission made a "grave mistake" by agreeing to impose punitive import duties on solar panels from China and urged the Commission to work to prevent the eruption of a trade conflict.

Greece to sell Postbank, Proton in July, stress-test big banks

Sun, 19 May 2013 12:30:36 GMT

ATHENS (Reuters) - Greece's bank rescue fund will aim to sell Hellenic Postbank and Proton by mid-July with big banks continuing to absorb small lenders as part of plans to revive the battered sector, the country's foreign lenders said in an inspection review.

Tesco clothing brand plans international expansion

Sun, 19 May 2013 12:16:38 GMT

LONDON (Reuters) - The clothing brand sold by Britain's biggest retailer Tesco said on Sunday it planned to open more than 50 new franchise stores worldwide over the next five years.

U.S. job market gains could lead Fed to taper QE3 early

Sun, 19 May 2013 12:13:50 GMT

(Reuters) - The beginning of the end of the Federal Reserve's massive bond-buying program might come sooner than many investors think if recent gains in the U.S. labour market do not prove fleeting.

BoE's King sends message to successor Carney

Sun, 19 May 2013 11:53:49 GMT

LONDON (Reuters) - Bank of England Governor Mervyn King has urged successor Mark Carney not to bring to Britain his trademark policy of spelling out how long interest rates will remain low.

FirstGroup plans 600 million rights issue - report

Sun, 19 May 2013 11:20:41 GMT

LONDON (Reuters) - Bus and rail operator FirstGroup plans to announce a 600 million pound ($911.5 million) rights issue in the coming days to help pay off debt, British media reported on Sunday.

BoE governor King warns of euro risk to British recovery

Sun, 19 May 2013 10:20:18 GMT

LONDON (Reuters) - The single biggest risk to Britain's nascent economic recovery is continued eurozone weakness, the Bank of England's outgoing governor Mervyn King said in a television interview on Sunday.

Bankia compensation qualms signal loss of faith in Spain's banks

Sun, 19 May 2013 10:13:36 GMT

MADRID (Reuters) - Many duped savers at Spanish lender Bankia are shunning a state-supervised compensation scheme in favour of expensive lawsuits, prolonging a mis-selling scandal and complicating efforts to restore faith in the banking system.

Independent Scotland open to Cyprus-style bank risks, says Britain

Sun, 19 May 2013 08:34:37 GMT

LONDON (Reuters) - An independent Scotland would have a vastly oversized financial sector that would leave it vulnerable to a Cyprus-style banking crisis, Britain's finance ministry says.

BoE governor King warns of risks in mortgage scheme

Sun, 19 May 2013 01:03:41 GMT

LONDON (Reuters) - A flagship British government scheme to boost mortgage lending must not become permanent like in the United States, outgoing Bank Governor Mervyn King said on Saturday.

BoE governor King warns of risks in UK mortgage scheme

Sat, 18 May 2013 22:32:03 GMT

LONDON (Reuters) - A flagship British government scheme to boost mortgage lending must not become permanent like in the United States, outgoing Bank Governor Mervyn King said on Saturday.

Qatar Holding, Italy fund eying Versace - paper

Sat, 18 May 2013 20:28:09 GMT

MILAN (Reuters) - Qatar Holding and an Italian state-controlled investment fund are interested in investing in Italian fashion house Versace, Il Sole 24 Ore said on Saturday.

Taxes on some wealthy French top 100 percent of income - paper

Sat, 18 May 2013 17:16:50 GMT

PARIS (Reuters) - More than 8,000 French households' tax bills topped 100 percent of their income last year, the business newspaper Les Echos reported on Saturday, citing Finance Ministry data.

Bernanke, in commencement address, upbeat on innovation outlook

Sat, 18 May 2013 16:56:48 GMT

WASHINGTON (Reuters) - U.S. Federal Reserve Chairman Ben Bernanke painted an upbeat picture on Saturday for the potential of innovation to lift living standards, delivering a sweeping look at the last 100 years that included memories of his 1963 South Carolina home.

New Xbox more than a game console for Microsoft

Sat, 18 May 2013 16:11:48 GMT

SAN FRANCISCO/SEATTLE (Reuters) - Microsoft Corp is set to make a splash this week with the eagerly awaited unveiling of its new Xbox game console, eight years after the last version, as it seeks a larger share of the $65 billion (£42.84 billion) a year global computer gaming industry.

Google's wearable Glass gadget: cool or creepy?

Sat, 18 May 2013 16:02:09 GMT

SAN FRANCISCO (Reuters) - Google staged four discussions expounding on the finer points of its "Glass" wearable computer during this week's developer conference. Missing from the agenda, however, was a session on etiquette when using the recording-capable gadget, which some attendees faithfully wore everywhere - including to the crowded bathrooms.

Switzerland close to deal in U.S. tax dispute: finance minister

Sat, 18 May 2013 16:01:33 GMT

ZURICH (Reuters) - Switzerland is on the brink of a deal to settle a long-running dispute with U.S. authorities over Swiss banks accused of helping wealthy Americans evade billions of dollars of tax, the finance minister said on Saturday.

France gets Pentagon backing to buy U.S.-made drones - paper

Sat, 18 May 2013 15:40:00 GMT

PARIS (Reuters) - France has received approval from the U.S. Pentagon to buy two Reaper drones for intelligence gathering, and now only needs backing from Congress, Le Monde newspaper said on Saturday.

French probe finds LVMH built up Hermes stake in secret-paper

Sat, 18 May 2013 15:26:44 GMT

PARIS (Reuters) - The French stock market authority has found LVMH secretly bought shares in rival Hermes to build a stake, and not merely make a financial investment as the luxury group has claimed, a newspaper reported.