News Archive - 9 May 2016

>SYDNEY The yen nursed broad losses early on Tuesday, after showing its biggest one-day fall in more than two weeks on Monday, a move that should offer some comfort to Japanese authorities unhappy about its strength.The dollar and euro both gained nearly 1 percent on the yen on Monday,...

>SINGAPORE Oil prices fell early on Tuesday as Canadian wildfires that have knocked out over 1 million barrels worth of daily crude capacity moved away from production facilities, while brimming inventories and a strong U.S. dollar weighed on markets.U.S. crude futures CLc1 were trading at $43.09...

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>"There will always be exceptions," the Times quoted the real estate billionaire and presumptive Republican nominee as saying when asked how his controversial proposal would apply to Sadiq Khan, the son of a Pakistani immigrant bus driver and a seamstress, who was sworn in as London's mayor on Saturday.Trump...

>The consumer price index rose 2.3 percent in April from a year ago, unchanged from March, though prices fell 0.2 percent month-on-month, the National Bureau of Statistics said on Tuesday.Inflation appeared to be driven largely by higher food prices, rather than an improvement in broader economic activity...

>TOKYO Japan is determined to prevent recent "one-sided" yen rises from accelerating, Finance Minister Taro Aso said, reiterating his resolve to intervene in the currency market if yen gains last long enough to hurt a fragile economic recovery.Aso told parliament on Tuesday that Japan has not and has no...

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>BRASILIA Brazil's Senate forged ahead with impeachment proceedings against President Dilma Rousseff on Monday, rejecting a surprise decision by the acting speaker of the lower house, who tried to annul a key vote just days before the president could be suspended from office.The clash between Brazil's two most senior...

>LONDON A move by banking regulators to curb the ability of banks to assess for themselves their lending risks could backfire if as a result they lose the incentive to reduce those risks in order to cut the amount of capital they must hold as a buffer against possible defaults,...

>TOKYO Asian shares got off to a weak start on Tuesday, pressured by weaker crude oil prices, though Japanese shares got a tailwind as the dollar stood tall against the yen.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.3 percent in early trading. Wall Street...

>Trump, the presumptive Republican nominee, is scheduled to visit Washington on Thursday to meet with House of Representatives Speaker Paul Ryan. (Reporting by Eric Walsh; Editing by Mohammad Zargham)...

>Ackman set out to sell 16.85 million shares in Zoetis for a price range of $46.75 to $47 per share, the newspaper reported. (nyti.ms/1Wlwzrw)The newspaper said the transaction would be managed by Bank of America Merrill Lynch and Credit Suisse. It said Pershing would still own 25...

>NEW YORK U.S. Democratic presidential candidate Bernie Sanders' tax and benefit plans would raise income for most Americans but his proposal for single-payer healthcare would help generate record federal deficits, two Washington think tanks said on Monday. An analysis by the Tax Policy Center said that although most people...

>The online marketplace Groupon Inc has sued IBM Corp, accusing it of infringing a patent related to technology that helps businesses solicit customers based on the customers' locations at a given moment.Groupon filed its lawsuit on Monday with the federal court in its hometown of Chicago, two months after...

>Facebook (FB.O) workers have often omitted conservative political stories from the website’s "trending" list, the technology news site Gizmodo said on Monday in a report that sparked widespread comment on social media.An unnamed former Facebook employee told Gizmodo that workers "routinely suppressed news stories of interest to conservative...

>If all companies comply with the notice, faulty air bag-related recalls in Japan are expected to reach nearly 20 million vehicles, with the global total touching 120 million vehicles, Nikkei said. (s.nikkei.com/1QWOe01) Separately, the Nikkei also reported that Mitsubishi Motors Corp (7211.T) and Nissan Motor Co Ltd...

>BRUSSELS/ATHENS Euro zone finance ministers offered on Monday to grant Greece debt relief by giving it longer grace periods and bond maturities from 2018 if the country delivers by then on all reforms agreed under its latest bailout.The offer, to be worked out in detail by deputy finance ministers...

>Last year ended with $365 billion in transactions, the highest dollar value of deals in these sectors since 2008, said the report by consulting firm AT Kearney.The report, titled 'Has the consumer-retail merger market lost its froth', was based on interviews with thirty six company executives globally and analyzed...

>U.S. cancer drug maker Medivation Inc (MDVN.O) has decided to explore a sale following a $9.3 billion acquisition offer from France's Sanofi SA (SASY.PA) and interest from other companies, people familiar with the matter said on Monday.Pfizer Inc (PFE.N) and Amgen Inc (AMGN.O)...

>SWIFT on Monday rejected allegations by officials in Bangladesh that technicians with the global messaging system made the nation's central bank more vulnerable to hacking before an $81 million cyber heist in February.The comments were in response to a Reuters story that cited Bangladeshi police and a central bank...

>STOCKHOLM Music streaming service Spotify has seen a faster pace of growth since the launch in June last year of rival Apple Music (AAPL.O), a top executive said on Monday.Spotify, which was created in Stockholm 10 years ago, now boasts of having close to 100 million users in...

>The strike on May 6 killed Abu Wahib, Islamic State's chief military official in Anbar province, said Pentagon spokesman Peter Cook. The strike was on a vehicle carrying Abu Wahib, also known as Shakir Wahib, and three other Islamic State members near the town of Rutba, Cook said. (Reporting by...

>AUSTIN, Texas On-demand ride companies Uber and Lyft suspended their services in Austin, Texas, on Monday after a stinging loss in a weekend vote where they had spent heavily to repeal a city ordinance requiring them to conduct fingerprint background checks for their drivers.The defeat in the Texas capital...

>BEIRUT/PARIS Syrian government forces and their allies fought insurgents near Aleppo on Monday and jets carried out raids around a nearby town seized by Islamist rebels, a monitoring group said, despite international efforts to reduce the violence.The United States and Russia, who support rival sides in the civil war,...

>MINNEAPOLIS Minneapolis Federal Reserve Bank President Neel Kashkari on Monday signaled his support for the cautious and patient approach to rate hikes laid out by Fed Chair Janet Yellen, saying the current stance of monetary policy is "about right." While a rate hike in June is "possible," Kashkari sounded...

Robert KnightMaking lemonade, not Kool-Aid

>The company added that it was clarifying outstanding points with a number of other parties who had expressed interest in Tata Steel UK."We believe that the bids being taken forward offer future prospects of sustainability for the UK business as a whole," Koushik Chatterjee, a group executive director at...

>Krispy Kreme shares rose nearly 24 percent to $20.88 in premarket trading on Monday, just shy of the offer price of $21 per share in cash.JAB Holding will acquire Krispy Kreme through its unit JAB Beech Inc, in which BDT Capital Partners is a minority investor. The U.

>".@SpeakerRyan on whether he'd step down as convention chair if Trump asks: I'll do whatever he asks me to do," Christian Schneider, one of the newspaper's columnists, tweeted. Ryan also said in the interview he is steadfastly opposed to a third-party candidate, even if it were 2012 party nominee...

>Tribune shares fell nearly 6 percent in morning trading on Monday, while Gannett shares were little changed.The rights will become exercisable after a group buys more than 20 percent of Tribune Publishing's shares.If the rights plan is triggered, Tribune shareholders will get the number of shares having a...

>WASHINGTON Republican presidential candidate Donald Trump sought to clarify his remarks on raising taxes on Monday, saying he would not raise taxes on wealthy Americans but in any negotiations with Democrats in Congress, this group would most likely pay a higher rate than the one he has proposed.Trump told...

>"Governor Christie is an extremely knowledgeable and loyal person with the tools and resources to put together an unparalleled Transition Team, one that will be prepared to take over the White House when we win in November," Trump said in a statement. Trump, the presumptive Republican nominee in the Nov.

>BEIJING Chinese regulators have imposed limits on the number of lucrative healthcare adverts carried by Baidu Inc (BIDU.O) following the death of a student who underwent an experimental cancer treatment which he found using China's biggest Internet search engine.Baidu's Nasdaq-listed shares fell more than 3 percent in morning...

>MGT Capital said on Monday it would change its name to John McAfee Global Technologies Inc and that it would buy some assets of McAfee's anti-spy software company, D-Vasive Inc.Shares of MGT, which had a market value of about $5 million on Friday, soared 85 percent to 66 cents...

>The U.S. factory sector appears to be stabilizing after a long and painful slide, but not when it comes to jobs.You might not hear that from Washington, where the latest job report for April showed factories added 4,000 positions and other measures suggest the sector has stopped contracting.

>LONDON The U.S. economy's fundamentals are solid and growth this year should pick up to around 2.5 percent, but the Federal Reserve's current 'wait and see' approach to monetary policy is appropriate, a Fed policymaker said on Monday.Charles Evans, president of the Chicago Fed, also said he...

>In what could be welcome news for the Federal Reserve, the New York Fed's April survey of consumers released on Monday found expectations for inflation one year ahead rose to 2.6 percent, from 2.5 percent in March, while three-year-out expectations jumped to 2.8 percent, the highest reading...

>LOS ANGELES A trial over Sumner Redstone's mental competence appeared to come to an abrupt end on Monday when a California judge threw out a lawsuit brought by the 92-year-old media mogul's former girlfriend, Manuela Herzer.“There is no good cause for further judicial involvement where the court has now...

>Wall Street was little changed in late morning trading on Friday as a bounce in healthcare shares struggled to offset declines in energy and materials stocks.Oil prices reversed course to drop more than 2 percent after traders took in their stride the impact of wildfires on Canada's oil output...

>HONG KONG China is planning to remove the need for State Council approval for large, sensitive outbound deals and will allow Chinese companies to vie for the same target, a move likely to further boost record overseas acquisitions by Chinese companies.China's chief outbound investment regulator, the National Development and...

>Tom Malinowski, assistant secretary of state for democracy, human rights and labor, is expected to press Vietnam to release unconditionally political prisoners and reform its laws to comply with its international commitments.Relations between the United States and Vietnam have moved to a new level in the past two years...

>International delivery company UPS is backing a start-up using drones in Rwanda to transport life-saving blood supplies and vaccines, underlining the wide potential for the unmanned aircraft and helping bring package delivery by drone to U.S. consumers a step closer.U.S. companies are keen to use drones to...

>By contrast, Apple Inc (AAPL.O) last month lost its battle to prevent a domestic company from using the "iPhone" trademark on leather goods in China.China's intellectual property protections are often perceived as quite lax but they are steadily improving, lawyers say. The victory may offer a glimmer of...

>PYONGYANG North Korea expelled a BBC journalist on Monday over his reporting, the broadcaster and a North Korean official said, as a large group of foreign media members visited the isolated country to cover a rare ruling party congress.Rupert Wingfield-Hayes was detained on Friday as he was about to...

>KABUL Amid fierce fighting after the Taliban captured the northern Afghan city of Kunduz last year, U.S. special forces advisers repeatedly asked their commanders how far they were allowed to go to help local troops retake the city.They got no answer, according to witnesses interviewed in a recently...

>The Frankfurt-based Sentix research group's index, tracking morale among investors and analysts in the euro zone, rose to 6.2 from 5.7 in April. Analysts polled by Reuters has expected a reading of 6.1. "Although the euro zone remains in the range of a moderate upturn, the manner...

>Seven countries or blocs, including the United States and the EU, called last month for action to address global steel overcapacity, but have failed to agree common measures with China.EU Ambassador to China Hans Dietmar Schweisgut told reporters at a briefing that China's measures to address steel overcapacity were...

>Following the market's nearly 3 percent slump on Friday, China's blue-chip CSI300 index .CSI300 fell 2.1 percent, to 3,065.62, while the Shanghai Composite Index .SSEC lost 2.8 percent, to 2,832.11 points. China April trade data, released on Sunday, doused investor hopes of a sustainable economic recovery,...