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(Reuters) – Rupert Murdoch’s 21st Century Fox Inc said on Wednesday it had offered to buy Time Warner Inc, a move that would unite two of the world’s most powerful media conglomerates, but Time Warner rebuffed its offer. Time Warner’s stock jumped 17.3 percent to $83.33 on the New York Stock Exchange after news that Murdoch had his sights on Time Warner, the owner of the Warner Bros. movie studio and cable channels such as […]
(Reuters) – Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system. The bank aimed at funding infrastructure projects in developing nations will be based in Shanghai, and India will preside over its operations for the first five years, followed by Brazil and then Russia, leaders of the five-country group announced at a […]
SEOUL Sun Jul 13, 2014 11:30pm EDT (Reuters) – Samsung Electronics Co Ltd said on Monday it had suspended business with a Chinese supplier it suspected of employing child labor, less than a week after a U.S. watchdog report accused the supplier of using under-aged workers. The South Korean smartphone maker said it found an “illegal hiring process” at Dongguan Shinyang Electronics Co Ltd, which supplies mobile phone covers and parts. Dongguan Shinyang Electronics could […]
By Wayne Cole SYDNEY Thu Jul 10, 2014 11:00pm EDT (Reuters) – Asian shares recouped early losses on Friday as sentiment in the region proved resilient to Portuguese bank concerns amid signs offshore funds were returning to emerging world assets. MSCI’s broadest index of Asia-Pacific shares outside Japan recovered to be a fraction firmer. Indices in Australia, Singapore and China were all higher, while Japan’s Nikkei pared its losses to be off just 0.26 percent. […]
Wed Jul 9, 2014 9:47am EDT (Reuters) – Dubai airline Emirates finalized a $56 billion order to buy 150 Boeing 777X jets on Wednesday, firming up a commitment made last year, just weeks after scrapping an order with rival planemaker Airbus. The deal includes purchase rights for an additional 50 airplanes which, if exercised, could increase the value to about $75 billion at list prices, Boeing said in a statement. “With the order for 150 […]
By Karen Freifeld NEW YORK Wed Jul 9, 2014 8:13pm EDT (Reuters) – German lender Commerzbank AG is expected to pay between $600 million and $800 million to resolve investigations into its dealings with Iran and other countries under U.S. sanctions, sources familiar with the matter said. The penalty, previously reported to be more than $500 million, includes a demand from New York’s top banking regulator, Benjamin Lawsky, for more than $300 million from the […]
By Se Young Lee SEOUL Tue Jul 8, 2014 12:45am EDT (Reuters) – Samsung Electronics Co Ltd on Tuesday issued unexpectedly weak quarterly earnings guidance which put it on track for its worst results in two years and cast doubt on the smartphone leader’s strategy against cheaper Chinese rivals. Though the South Korean company said it saw better business conditions in the third quarter, it faces slowing market growth, intensifying price competition at the lower […]
By Se Young Lee SEOUL Sun Jul 6, 2014 5:03pm EDT (Reuters) – Smartphone leader Samsung Electronics Co Ltd faces a third straight quarter of profit decline that could become a fourth as cheaper models grab a bigger share of a slowing market and Apple Inc readies the launch of its iPhone 6. Samsung Electronics’ woes, exacerbated by a won that has risen to a six-year high against the dollar, come at an awkward time […]
By Hideyuki Sano TOKYO Sun Jul 6, 2014 8:39pm EDT (Reuters) – Asian stock markets got off to a slow start on Monday after a U.S. market holiday but held near three-year highs on optimism about the U.S. economy, with investors now shifting their focus to corporate earnings. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was little changed, staying just under Friday’s peak and two percentage point below its 2011 peak, having risen […]
SEOUL Thu Jul 3, 2014 10:31pm EDT (Reuters) – General Motors Co will recall 27,051 Spark mini cars in South Korea due to a defective transmission mount, the latest in a string of global recalls by the U.S. automaker. The gearbox mount may destabilize and cause a drop in transmission power, the Ministry of Land, Infrastructure and Transport said in a statement on Friday. The affected cars were produced in South Korea between June 8 […]
By Angela Moon NEW YORK Thu Jul 3, 2014 3:07pm EDT (Reuters) – With all the hoopla over the Dow topping 17,000 out of the way, the market’s next focus will be whether the fast-approaching earnings season can justify U.S. stocks continuing their climb further into record territory. Many factors point to a second-quarter earnings season poised to surprise substantially to the upside, with an outside chance that profits for S&P 500 .SPX companies could […]
(Reuters) – U.S. employment growth is expected to have continued at a solid clip in June, which would further dispel fears about the economy’s health and underscore its momentum heading into the second half of 2014. Nonfarm payrolls probably increased by 212,000 jobs after rising by 217,000 in May, according to a Reuters poll of economists. It would be the first time since the technology boom in the late 1990s that employment had grown above […]
