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Yahoo buys blogging platform Tumblr for $1.1 bn cash

Mon, 20 May 2013 17:40:57 -0400

NEW YORK - Yahoo promised "not to screw it up" as it formally announced its acquisition of the popular Tumblr blogging platform for $1.1bn in cash, giving the company a much-needed base in social media to reach a younger generation of users. The relaxed wording of the memo for one of the internet giant's biggest acquisitions was echoed in the memo sent by David Karp, Tumblr's 26-year-old ...

Actavis buying Warner Chilcott in $8.5bn deal

Mon, 20 May 2013 17:31:34 -0400

WASHINGTON/ DUBLIN - Actavis Inc, the largest US generic drug maker by market value, is acquiring Dublin-based Warner Chilcott in a deal worth $8.5billion (5.6billion pounds) including $3billion net debt, to create the third-biggest specialty pharmaceutical company in the country. Under the deal, Actavis, which itself has been the subject of bid speculation, would be offering $5billion in ...

Morgan Stanley to sell Indian private banking arm to StanChart

Mon, 20 May 2013 16:51:43 -0400

MUMBAI - The UK based Standard Chartered (StanChart) Monday announced plans to acquire the Indian private wealth management business of US multinational financial services firm Morgan Stanley for an undisclosed amount as part of plans to expand operations. The acquisition is subject to regulatory approvals. "Standard Chartered India has agreed to acquire Morgan Stanley's onshore private ...

Microsoft unveils next Xbox games console

Tue, 21 May 2013 14:43:12 -0400

Microsoft Corp has given a first look at its new game console, hoping the newly named Xbox One will build on a solid core of gamer fans and become a hub for living room entertainment. The third-generation console, coming eight years after the Xbox 360, was unveiled by games unit chief Don Mattrick at an event at the software company's campus near ...

P.M. Kitco Roundup Gold Ends Down But Up From Daily Low U.S. Federal Reserve Events Loom

Tue, 21 May 2013 14:33:36 -0400

Comex gold futures prices ended the U.S. day session moderately lower Tuesday. The market saw a downside technical correction and some chart consolidation following a surge higher in late trading Monday. Comex June gold last traded down $9.30 at $1,374.80 an ounce. Spot gold was last quoted down $17.00 at $1,377.50. July Comex silver last traded down $0.147 at $22.44 an ounce. The gold market ...

Welcome to the new Wall Street where back-office work trumps backslapping

Tue, 21 May 2013 14:17:07 -0400

$17 billion bond, it eschewed Wall Street's traditional tactics. Instead of flying well-groomed bankers to Cupertino, Calif., to charm Apple's top executives with PowerPoint presentations, Deutsche relied on iTunes. The German bank has handled the back-office work for Apple's online store in recent years, according to people familiar with the ...

Fitch Affirms Houston Healthcares Bonds at A+ Outlook Stable

Tue, 21 May 2013 14:13:06 -0400

Accounting Rules May Encourage Short-Term Leases The latest lease-accounting proposals from international and U.S. standard-setters, designed to aid transparency and consistency, may encourage companies to shift to short-term leases or structure agreements as service contracts, Fitch Ratings says. This could mean that fewer leases than originally anticipated will be brought onto the balance ...

Former head of Federal Reserve Miami joins Ocean Bank board

Tue, 21 May 2013 14:05:02 -0400

Juan del Busto, Ocean Bank board member. Ocean Bank added Juan del Busto, the former head of the Federal Reserve Bank of Atlantas Miami branch, to its board of directors. The move should give the Miami-based bank a boost in its dealings with regulators. The bank has been under enforcement orders from the Federal Deposit Insurance Corp. and the Florida Office of Financial Regulation since 2007, ...

Crest Financial protests Clearwire vote delay opposes new bid

Tue, 21 May 2013 13:40:21 -0400

Tue May 21, 2013 1:40pm EDT May 21 (Reuters) - Major Clearwire Corp shareholder Crest Financial on Tuesday said it was opposed to Sprint Nextel Corp's newly raised bid for the company. Crest also protested Clearwire's decision to postpone a shareholder vote, which had been scheduled for Tuesday. Crest has been soliciting proxies to oppose the ...

Feds Dudley ties bond buying to impact of U.S. fiscal policy

Tue, 21 May 2013 13:39:45 -0400

By Jonathan Spicer NEW YORK | Tue May 21, 2013 1:39pm EDT NEW YORK (Reuters) - The U.S. economy's ability in coming months to weather lower government spending and higher taxes will be key to the Federal Reserve's decision whether to reduce monetary accommodation, an influential Fed official said on Tuesday. In a speech that could dampen some expectations of an early reduction in ...

WRAPUP 1-EU and U.S. not coordinating on China solar dispute

Tue, 21 May 2013 13:37:16 -0400

By Daniel Bases and Doug Palmer Tue May 21, 2013 1:37pm EDT May 21 (Reuters)- NEW YORK/WASHINGTON - Europe and the United States both said on Tuesday they were not holding coordinated talks to negotiate an end to a trade dispute with China over the dumping of solar panels onto their respective markets. The European Union has until June 5 to decide whether to impose duties averaging 47 percent on ...

Private equity top traders mull $1 bln commodity venture

Tue, 21 May 2013 13:35:33 -0400

Tue May 21, 2013 1:35pm EDT * Former Deutsche traders team up with Riverstone group * Venture to invest in energy, coal, metals, trade commodities * New investors come in commodities as banks reduce exposure By Dmitry Zhdannikov LONDON, May 21 (Reuters) - Former top commodities traders from Deutsche Bank are in talks with U.S. private equity group Riverstone to set up a $0.5-1.0 billion venture ...

Feds Bullard-dont see case for tapering with inflation so low

Tue, 21 May 2013 13:29:16 -0400

FRANKFURT | Tue May 21, 2013 1:29pm EDT FRANKFURT May 21 (Reuters) - A top U.S. Federal Reserve official said on Tuesday he could not envisage a good case for tapering the Fed's purchases of bonds at the moment due to the low inflation rate. The Fed is currently purchasing $85 billon worth of bonds every month. It next meets on June 18-19 to review policy and there has been some ...

Hopes rise for deal on delayed EU insurance rules

Tue, 21 May 2013 13:28:54 -0400

By Huw JonesLONDON (Reuters) - The European Union is nearing a deal on long-delayed insurance rules that the bloc has touted as a regulatory benchmark for the world to follow, regulatory and policy officials said.The rules, known as "Solvency II", will seek to improve the method for deciding how much capital an insurer must hold as a safety buffer by better assessing risks and ...

Government plans policy sweeteners for insurance industry

Tue, 21 May 2013 13:28:35 -0400

By Chris VellacottLONDON (Reuters) - Britain plans to boost the insurance industry with policy sweeteners such as tax breaks, hoping to nurture it as a source of investment and an engine of economic growth.Treasury minister Greg Clark said the government would extend to the insurance industry a series of measures announced earlier this year to boost asset managers."The government recognises ...

Egypts c.bank to offer $800 at forex auction on Wednesday

Tue, 21 May 2013 13:28:25 -0400

CAIRO | Tue May 21, 2013 1:28pm EDT CAIRO May 21 (Reuters) - Egypt's central bank said on Tuesday it would offer $800 million to banks at an exceptional auction of foreign currency on Wednesday. The auction will be the central bank's second exceptional sale of foreign exchange. In April, it sold $600 million to pay for wheat, meat, cooking oil and other essential imports. The ...

FOREX-Dollar dips vs euro on Feds Bullards remarks Bernanke ahead

Tue, 21 May 2013 13:26:03 -0400

Tue May 21, 2013 1:26pm EDT * Bullard says Fed should continue QE, adjust pace according to data * Bernanke to testify before Congress on Wednesday * Euro climbs to four-month peak versus Swiss franc By Wanfeng Zhou NEW YORK, May 21 (Reuters) - The U.S. dollar fell against the euro on Tuesday after St. Louis Federal Reserve President James Bullard dented expectations the U.S. central bank may ...

Energy Stocks Energy stocks stretch winning streak to second day

Tue, 21 May 2013 13:21:19 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks edged higher on Tuesday, extending a wining streak to a second day as the broader U.S. equity market was more ...

Wall Street drifts near record

Tue, 21 May 2013 13:18:25 -0400

New York - US stocks were little changed in early trading on Tuesday with Home Depot at a record high and buoying the blue-chips while investors eyed congressional testimony from Fed chairman Ben Bernanke on ...

PayPal to be in all RadioShack stores starting this month

Tue, 21 May 2013 13:16:39 -0400

SAN FRANCISCO | Tue May 21, 2013 1:16pm EDT SAN FRANCISCO May 21 (Reuters) - PayPal, the online payment operation owned by eBay Inc, unveiled a new partnership on Tuesday with RadioShack Corp that will get PayPal into all the electronics retailer's stores starting this ...

Chicago-area public pension funding gap rises 16.7 pct in 2011 -report

Tue, 21 May 2013 13:11:30 -0400

CHICAGO | Tue May 21, 2013 1:11pm EDT CHICAGO May 21 (Reuters) - The funding gap for 10 Chicago-area public pension systems widened by 16.7 percent to $32 billion in fiscal 2011 from fiscal 2010, heightening the risk of tax increases or service cuts for residents, a report by a civic watchdog group said on Tuesday. The Chicago-based Civic Federation also found that pension funding levels ...

Wall Street Journal Supports Ridiculous Idea For Keeping Obama’s Judges Off The Bench

Tue, 21 May 2013 13:10:19 -0400

ridiculous idea of reducing the number of judges in the D.C. Circuit. Sen. Grassley is the ranking Republican on the Senate Judiciary Committee and introduced legislation proposing this move. While it would add one seat each to the ...

ADR REPORT-ADRs little changed as Fed clues sought

Tue, 21 May 2013 13:05:58 -0400

By Chuck Mikolajczak NEW YORK | Tue May 21, 2013 1:05pm EDT NEW YORK May 21 (Reuters) - U.S.-listed shares of foreign companies were little changed on Tuesday, as investors paused ahead of any clues from the U.S. Federal Reserve on the fate of its stimulus program. Fed Chairman Ben Bernanke was scheduled to give testimony before Congress, and the central bank will release the minutes of ...

UPDATE 1-Senators reach deal to ease high-tech rules in U.S. immigration bill

Tue, 21 May 2013 13:05:42 -0400

By Richard Cowan and Rachelle Younglai WASHINGTON | Tue May 21, 2013 1:05pm EDT WASHINGTON May 21 (Reuters) - Senate negotiators have reached a tentative deal with tech companies to ease restrictions on hiring foreigners for high-skilled jobs as part of a sweeping immigration bill, congressional and industry sources said on Tuesday. Judiciary Committee members have been in negotiations ...

European shares stall near peaks await Fed reassurance

Tue, 21 May 2013 13:02:56 -0400

news ) falls 0.1 pct * Charts show scope for EuroSTOXX pullback towards 2,745 * Nomura recommends hedge on long equity bets By Toni Vorobyova LONDON, May 21 (Reuters) - European shares stalled around multi-year peaks on Tuesday, bolstered by a crop of upbeat corporate reports but pinned back by concerns about a possible end to the U.S. Federal Reserve remains committed to stimulus ...

UPDATE 1-Herbalife hires PwC as new auditor shares up

Tue, 21 May 2013 13:02:09 -0400

Tue May 21, 2013 1:02pm EDT May 21 (Reuters) - Herbalife Ltd said on Tuesday it has engaged PricewaterhouseCoopers LLP as its auditor, replacing KPMG in the wake of alleged insider trading. The news sent the nutritional products company's shares up 4 percent in midday trading. PwC will audit Herbalife's financial statements for fiscal year 2013 and reaudit statements for fiscal 2011 and ...

Former IRS commissioner withdraws bid to join CBOE board

Tue, 21 May 2013 13:02:04 -0400

CHICAGO | Tue May 21, 2013 1:02pm EDT CHICAGO May 21 (Reuters) - A former U.S. Internal Revenue Service commissioner has withdrawn his bid to join CBOE Holdings Inc's board of directors as he faces fire for the agency's targeting of conservative groups for extra tax scrutiny. Douglas Shulman, who led the IRS from 2008 to 2012, withdrew his candidacy to serve a one-year term, ...

Feds Bullard-dont see support for negative rates

Tue, 21 May 2013 12:50:21 -0400

FRANKFURT | Tue May 21, 2013 12:50pm EDT FRANKFURT May 21 (Reuters) - There is not sufficient support to take interest rates into negative territory in the United States, a top Fed official said on Tuesday. St. Louis Fed President James Bullard said such a policy of negative rates would run out of road after one or two cuts. "You could go negative and I have advocated that, but I ...

US STOCKS-Wall St advances as Home Depot JPMorgan buoy Dow

Tue, 21 May 2013 12:49:17 -0400

Tue May 21, 2013 12:49pm EDT * Home Depot raises outlook, shares hit record intraday high * Goldman Sachs sees S&P 500 at 1,750 by year-end * JPMorgan shares hit highest since February 2001 * Dow up 0.4 pct, S&P 500 up 0.2 pct, Nasdaq up 0.2 pct By Leah Schnurr NEW YORK, May 21 (Reuters) - U.S. stocks gained on Tuesday as a record intraday high for Home Depot helped lift the blue-chip Dow, but ...

RPT-UPDATE 1-Wealth fund trio to invest $500 mln each in Russias VTB

Tue, 21 May 2013 12:48:11 -0400

Tue May 21, 2013 12:48pm EDT * Russian state bank raising $3.3 bln * Share sale to close by weekend * Loan book to grow 15-20 pct - CEO * Sees 2013 net profit at over 100 bln rbls LONDON, May 21 (Reuters) - Russia's second-largest bank VTB expects to close its $3.3 billion offering of new shares by the end of the week, with three sovereign wealth funds investing about $500 million each, ...

GLOBAL MARKETS-Shares edge higher but crude oil weakens

Tue, 21 May 2013 12:47:06 -0400

* Investors looking for clarity on Fed stimulus program * Dollar index firmer, but down from near 3-year high * Yen dips after Japanese minister says seeks 'balance' for currency * Commodities fall, gold and oil weaker on the day By Ryan Vlastelica NEW YORK, May 21 (Reuters) - Stock markets around the world edged higher on Tuesday amid signs of improving growth, even though questions ...

UPDATE 4-Dimon keeps JPMorgan chairman title after bruising battle

Tue, 21 May 2013 12:46:50 -0400

Tue May 21, 2013 2:10pm EDT * Just 32.2 pct of shareholders vote against, vs 40.1 pct last year * Three directors re-elected by unusually slim margins By David Henry TAMPA, Florida, May 21 (Reuters) - Jamie Dimon, JPMorgan Chase and Co's outspoken chairman and chief executive, won a vote of confidence on Tuesday as shareholders recommended that he keep his chairman title, giving him a greater ...

METALS-Copper dips on China imports Grasberg limits losses

Tue, 21 May 2013 12:34:37 -0400

Tue May 21, 2013 12:34pm EDT * China April refined copper imports down 33 pct from year ago * Freeport's Grasberg mine could face long closure * Traders await Thursday's flash PMIs from U.S., Europe, China By Maytaal Angel LONDON, May 21 (Reuters) - Copper dipped on Tuesday after disappointing import numbers from top consumer China, but losses were capped by a protracted production outage ...

UPDATE 2-Fiat Industrial seeks UK residence to cut tax bill

Tue, 21 May 2013 12:26:20 -0400

Tue May 21, 2013 12:26pm EDT * UK has cut corporate tax rate to 20 pct from 30 pct * Fiat Industrial paid 36 pct effective rate in Italy in 2012 * Government opposes move By Jennifer Clark MILAN, May 21 (Reuters) - Italy-based truck and tractor maker Fiat Industrial plans to lower its tax bill by shifting its residence to Britain after a planned merger with unit CNH, a move that drew angry ...

UPDATE 2-Best Buy sees investments squeezing near-term profits

Tue, 21 May 2013 12:25:57 -0400

Tue May 21, 2013 12:25pm EDT * Shares drop 4 percent * May need to make further cost cuts By Dhanya Skariachan May 21 (Reuters) - Best Buy Co Inc reported lackluster sales in the first quarter and warned that efforts to entice shoppers could squeeze profits in the near term. The news overshadowed its better-than-expected, first-quarter profit and sent shares of the world's largest consumer ...

UPDATE 2-U.S. natgas futures up 2 pct warm weather boosts demand

Tue, 21 May 2013 12:22:38 -0400

* Front month still below recent 21-month high * Weather forecasts turn warmer for most of nation * Nuclear plant outages slip back below normal By Eileen Houlihan NEW YORK, May 21 (Reuters) - U.S. natural gas futures rose about 2 percent at midday on Tuesday, extending gains for a third straight session as warmer weather blanketing much of the nation boosted demand for air ...

BRIEF-Herbalife shares up 4 pct after disclosing new auditors

Tue, 21 May 2013 12:17:07 -0400

NEW YORK | Tue May 21, 2013 12:17pm EDT NEW YORK May 21 (Reuters) - Herbalife Ltd : * Shares resume trading, now up 4 percent after disclosing new ...

PricewaterhouseCoopers is new Herbalife auditor

Tue, 21 May 2013 12:16:28 -0400

Tue May 21, 2013 12:16pm EDT May 21 (Reuters) - Herbalife Ltd said on Tuesday it has engaged PricewaterhouseCoopers LLP as its new auditor, replacing KPMG in the wake of alleged insider trading. PwC will audit Herbalife's financial statements for fiscal year 2013 and reaudit statements for fiscal 2011 and ...

Indexes edge higher on Wall Street in early trade

Tue, 21 May 2013 12:14:51 -0400

Mizzou basketball coach Frank Haith had high hopes for versatile recruit Negus Webster-Chan. He played him extensively early on, before ...

Cat bond investors on alert after Oklahoma twister

Tue, 21 May 2013 12:14:13 -0400

By Sarah Mortimer LONDON | Tue May 21, 2013 12:14pm EDT LONDON May 21 (Reuters) - Investors in niche financial bonds that cover insurers against huge natural disasters are on alert for future events that could force them to pay out after the powerful tornado that struck the U.S. on Monday, brokers and fund managers said. Catastrophe bonds are used by the insurance industry to transfer ...

Stocks Close Modestly Lower After Lackluster Trading Day - U.S. Commentary

Tue, 21 May 2013 12:12:23 -0400

After showing a lack of direction throughout much of the session, stocks ended Monday's trading modestly lower. The slightly lower close on the day partly offset the strength that was seen in ...

Market Extra Gold investors lured to trade on charts only

Tue, 21 May 2013 12:07:14 -0400

Investors are bombarded with speculation and news about central-bank policies, along with economic data, investment banks racing to cut gold forecasts, dollar moves, updates on Indian wedding ...

Futures Movers Oil struggles at $96 with supply data on tap

Tue, 21 May 2013 12:07:13 -0400

SAN FRANCISCO (MarketWatch) -- Oil futures on Tuesday struggled to hold above $96 a barrel, with prices pressured by strength in the dollar as traders awaited U.S. data expected to show a drawdown in weekly oil ...

Tech Stocks Apple weighs down techs Yahoo gains

Tue, 21 May 2013 12:07:12 -0400

SAN FRANCISCO (MarketWatch) -- Tech stocks mostly slipped to the red in early trades on Tuesday morning, weighed down by a drop at Apple Inc. prior to CEO Tim Cook taking the stand at a congressional hearing in Washington, ...

Bond Report Treasurys tip down ahead of Fed speeches

Tue, 21 May 2013 12:07:11 -0400

NEW YORK (MarketWatch) -- Treasurys traded lower Tuesday morning as the government-bond market waits on pins and needles for guidance on the Federal Reserve's monetary plan going ...

UPDATE 1-CP Rail says oil leaking after tankers derail in Saskatchewan

Tue, 21 May 2013 12:06:36 -0400

Tue May 21, 2013 12:06pm EDT * Five tankers derail, one leaking crude. * No estimate for size of spill, company says oil contained * Third spill for company in two months * Shares drop 1.1 pct CALGARY, Alberta, May 21 (Reuters) - Canadian Pacific Railway Ltd said five tankers containing oil derailed on Tuesday morning near Jansen, Saskatchewan, and one of the cars is leaking crude, the third ...

UPDATE 2-FINRA fines LPL Financial $9 mln for email violations

Tue, 21 May 2013 12:06:07 -0400

Tue May 21, 2013 12:06pm EDT By Suzanne Barlyn May 21 (Reuters) - LPL Financial LLC must pay a total of $9 million for significant email system failures and making misstatements to the Financial Industry Regulatory Authority, Wall Street's watchdog. LPL, an affiliate of LPL Financial Holdings Inc, agreed to a fine of $7.5 million and will establish a $1.5 million fund to compensate brokerage ...

TREASURIES-U.S. 30-year bonds rise after Bullards remarks

Tue, 21 May 2013 12:04:22 -0400

NEW YORK | Tue May 21, 2013 12:04pm EDT NEW YORK May 21 (Reuters) - Prices on U.S. 30-year Treasury bonds turned higher on Tuesday after comments from St. Louis Federal Reserve President James Bullard reduced worries about the U.S. central bank tapering its bond purchases later this year. Bullard, at an event in Frankfurt, said the Fed should continue quantitative easing, adjusting the ...

EURO GOVT-Bunds fall as investors await Fed auction

Tue, 21 May 2013 11:59:11 -0400

Tue May 21, 2013 11:59am EDT * Focus on Bernanke's testimony, Fed minutes on Wednesday * Bunds fall as investors make room for 10-year Bund sale * Greek 10-year yield falls below 30-year for 1st time since 2010 By Ana Nicolaci da Costa and Emelia Sithole-Matarise LONDON, May 21 (Reuters) - Bunds fell on Tuesday as markets looked to U.S. Federal Reserve head Ben Bernanke's testimony and ...

COLUMN-Transforming your 401k into steady income

Tue, 21 May 2013 11:57:08 -0400

Tue May 21, 2013 11:57am EDT By Mark Miller CHICAGO May 21(Reuters) - A job and a paycheck - they go together like coffee and cream. But when you retire from your regular job, does that mean you have to give up the cream? A growing number of 401(k) plans are including investment choices that can help savers convert nest eggs into retirement income. Participants can buy insurance annuities or ...

Intel CEO shakes up divisions creates new devices unit -source

Tue, 21 May 2013 11:55:58 -0400

By Noel Randewich SAN FRANCISCO | Tue May 21, 2013 11:55am EDT SAN FRANCISCO May 21 (Reuters) - Intel Corp new Chief Executive Officer Brian Krzanich has re-organized key business groups and created a "new devices" unit, according to a source who has seen an internal email, shaking up the world's top chipmaker days after formally assuming control. Intel spokesman Chuck Mulloy ...

ADHD co Alcobra to raise $25m on Nasdaq today

Tue, 21 May 2013 11:55:49 -0400

Sources inform ''Globes'' that Alcobra Pharmaceuticals Inc., which is developing a treatment for attention deficit hyperactivity disorder (ADHD) will hold its Nasdaq IPO tonight (Israel time) and announce the results tomorrow. Sources said that the company obtained positive feedback during its road show. Just before the road show, the company expanded its prospectus from ...

Irish opposition calls for multinationals to face parliament

Tue, 21 May 2013 11:55:09 -0400

DUBLIN | Tue May 21, 2013 11:55am EDT DUBLIN May 21 (Reuters) - An Irish opposition party called on Tuesday for Irish-based multinationals to be questioned on corporate tax by a parliamentary committee as debate raged over how much tax the companies actually pay. Ireland has been defending its corporate tax rate after the U.S. Senate said on Monday that Apple paid little or no tax on ...

UPDATE 1-Feds Bullard bond buying best policy when rates near zero

Tue, 21 May 2013 11:54:36 -0400

Tue May 21, 2013 11:54am EDT By Paul Carrel and Eva Kuehnen FRANKFURT May 21 (Reuters) - Massive asset purchases are the closest thing to normal monetary policy once interest rates get near zero, a senior U.S. Federal Reserve official said on Tuesday, recommending that the European Central Bank weigh such action if inflation falls further. St. Louis Federal Reserve Bank President James Bullard, a ...

Home Depot Main Streets Housing Recovery Helps Impress Wall Street

Tue, 21 May 2013 11:54:08 -0400

Wall Street 's predictions. So good were the figures that Home Depot raised its forecast for the year. Looking ahead, Home Depot expects to make $3.52 a share in 2013, up from an earlier forecast of $3.37 a share. Sales should increase by 2.8%, the company says, again more than the previous forecast of 2%. Given that Home Depot favors conservative guidance, those numbers could easily be ...

UPDATE 2-KKR selling remaining stake in Seven West Media

Tue, 21 May 2013 11:54:01 -0400

Tue May 21, 2013 11:54am EDT * KKR puts 12% stake up for sale via Deutsche Bank, Goldman * Exit comes towards end of typical investment period By Stephen Aldred and Rob Taylor HONG KONG/SYDNEY, May 21 (Reuters) - U.S. private equity firm Kohlberg Kravis Roberts and Co (KKR) is selling a remaining stake in Australia's Seven West Media Ltd valued at A$265 million ($260 million), exiting an ...

BRIEF-JPMorgan Chase adds to gains up 2.1 percent after prelim shareholder tally

Tue, 21 May 2013 11:50:54 -0400

NEW YORK | Tue May 21, 2013 11:50am EDT NEW YORK May 21 (Reuters) - JPMorgan Chase and Co : * Adds to gains; up 2.1 percent after preliminary tally shows shareholders reject split of Chairman and CEO ...

GLOBAL MARKETS-Shares flat ahead of Bernanke euro edges lower

Tue, 21 May 2013 11:50:07 -0400

* Shares flat ahead of Bernanke testimony on Wednesday, Home Depot rallies * Dollar index firmer, but down from near 3-year high * Yen dips after Japanese minister says seeks 'balance' for currency * Commodities fall, gold and oil weaker on the day By Ryan Vlastelica NEW YORK, May 21 (Reuters) - Stock markets around the world were little changed on Tuesday as investors awaited an update ...

BRIEF-Magnolia Petroleum says none of its ops directly affected by Oklahoma storm

Tue, 21 May 2013 11:46:37 -0400

LONDON | Tue May 21, 2013 11:46am EDT LONDON May 21 (Reuters) - Magnolia Petroleum PLC : * None of its operations across the state have been affected directly by the recent storms in Oklahoma * Source text for Eikon ...

TREASURIES-U.S. bond prices flat as traders await Bernanke remarks

Tue, 21 May 2013 11:42:55 -0400

Tue May 21, 2013 11:42am EDT * Benchmark bond yields edge up, near 2 percent * Bernanke testimony on Wednesday seen as key event * U.S. Fed purchases $3.31 bln medium-term government debt By Richard Leong NEW YORK, May 21 (Reuters) - U.S. Treasuries prices were little changed on Tuesday as most investors moved to the sidelines a day ahead of testimony from Federal Reserve Chairman Ben Bernanke, ...

UPDATE 8-Ireland rejects blame for Apples low tax rate

Tue, 21 May 2013 11:19:13 -0400

Tue May 21, 2013 12:50pm EDT * U.S. Senate subcommittee says Apple paid no tax on $29.9 bln dividends * Dividends routed through Irish subsidiary * Irish Deputy PM says 'other jurisdictions' to blame By Conor Humphries and Padraic Halpin CORK/DUBLIN, May 21 (Reuters) - Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments and had no special rate deal with ...

US stocks rise on strong Home Depot result

Tue, 21 May 2013 10:47:46 -0400

US stocks have opened higher following a positive earnings report by Dow member The Home Depot, which cited the strong recovery in the housing ...

Wall Street starts slightly higher eyes on Fed

Tue, 21 May 2013 10:40:00 -0400

US stocks opened slightly stronger on Tuesday after the S&P 500 hit yet another intraday record in the previous session, with markets expected to drift sideways ahead of Congressional testimony ...

Halliburton sees Mexicos Pemex reducing activity for 2013

Tue, 21 May 2013 10:31:29 -0400

May 21 (Reuters) - Halliburton Co, the world's second-largest oilfield services company, said on Tuesday that Mexican state oil company Pemex was delaying any significant activity at its Burgos and Chicontepec projects until next year. Chief Financial Officer Mark McCollum said Halliburton's Latin American margins would be weighed down this year by the reduction in activity at the ...

Greek banks ECB funding drops in April ELA up

Tue, 21 May 2013 10:31:19 -0400

ATHENS | Tue May 21, 2013 10:31am EDT ATHENS May 21 (Reuters) - European Central Bank funding to Greek banks fell by 10.5 billion euros in April while emergency liquidity assistance (ELA) from the country's central bank increased by 12 billion euros, Bank of Greece data showed on Tuesday. ECB funding to Greek banks dropped to 60.91 billion euros in April from 70.73 billion euros in ...

Mexcios peso weakens to lowest point in nearly seven weeks

Tue, 21 May 2013 10:21:47 -0400

MEXICO CITY | Tue May 21, 2013 10:21am EDT MEXICO CITY May 21 (Reuters) - Mexico's peso lost 0.67 percent to trade at 12.3779 per dollar in early trading on Tuesday, its lowest value in nearly seven weeks, on wider strength of the ...

UPDATE 1-UK watchdog warns cement makers over lack of competition

Tue, 21 May 2013 10:19:24 -0400

Tue May 21, 2013 10:19am EDT * Says producers may have to sell plants * Consumer costs up by 180 mln pounds 2007-2011-Competition Commission * Producers' prices, profits rose at time of low demand * Companies know too much about each other, do not compete fully By Brenda Goh and Peter Dinkloh LONDON/FRANKFURT, May 21 (Reuters) - Britain's dominant cement makers could be forced to sell off ...

Mexico stocks fall more than 1 pct America Movil Femsa weigh

Tue, 21 May 2013 10:18:12 -0400

MEXICO CITY | Tue May 21, 2013 10:18am EDT MEXICO CITY May 21 (Reuters) - Mexico's IPC stock index fell more than 1 percent in early trading on Tuesday, as bottling and retail company Femsa and telecoms giant America Movil weighed. Shares in Femsa fell more than 4 percent after Swiss bank Credit Suisse cut its view to underperform. The IPC fell 1.38 percent to 40,502.49 points in ...

The Irish loophole behind Apples low tax bill

Tue, 21 May 2013 10:15:20 -0400

By Tom Bergin LONDON | Tue May 21, 2013 10:15am EDT LONDON May 21 (Reuters) - Apple's ability to shelter billions of dollars of income from tax has hinged on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed on Monday that Apple, maker of iPhones, iPads and Mac computers, had ...

CANADA STOCKS-TSX rises 1 pct as most sectors rally positive data boosts

Tue, 21 May 2013 10:09:16 -0400

TORONTO, May 21 (Reuters) - Canada's main stock index rose to its highest in 1-1/2 months on Tuesday, fueled by gains in almost all major sectors and optimism following positive economic data from Europe. The Toronto Stock Exchange's S&P/TSX composite index was up 127.91 points, or 1.01 percent, at 12,740.96 in mid-morning trade. The index reached 12,748.06, its highest point since April ...

UPDATE 1-JPMorgans Dimon looks set to remain chmn after battle

Tue, 21 May 2013 10:08:02 -0400

Tue May 21, 2013 10:08am EDT By David Henry TAMPA, Florida May 21 (Reuters) - JPMorgan Chase and Co's Chairman and Chief Executive Jamie Dimon looks set to win a vote about whether he gets to keep his chairman title, the New York Times reported on Tuesday. A months-long and bitter shareholder campaign demanding more oversight of Dimon will end with JPMorgan's annual meeting on Tuesday. ...

UPDATE 3-Housing recovery boosts Home Depot results outlook raised

Tue, 21 May 2013 10:07:49 -0400

Tue May 21, 2013 10:07am EDT * Quarterly sales and earnings beat Wall Street estimates * Sales to contractors outpace those to consumers * Shares hit all-time high By Dhanya Skariachan May 21 (Reuters) - Home Depot Inc reported higher-than-expected quarterly results and raised its sales and profit outlook for the year on Tuesday as the world's largest home improvement chain benefited from a ...

TREASURIES-U.S. 10-year yields flirt with 2 percent

Tue, 21 May 2013 10:07:25 -0400

NEW YORK | Tue May 21, 2013 10:07am EDT NEW YORK May 21 (Reuters) - Benchmark U.S. Treasury yields rose to fresh two-month highs close to 2 percent early Tuesday as Wall Street stocks rose, with the Dow Jones industrial average hitting a record intraday high, reducing the appeal of low-yielding government bonds. Benchmark 10-year Treasury notes last traded 7/32 lower in price, yielding ...

CANADA FX DEBT-C$ weaker as focus turns to Bernanke testimony

Tue, 21 May 2013 10:06:11 -0400

* C$ at C$1.0293 versus US$ or 97.15 U.S. cents * Fed chairman Bernanke to speak on Wednesday * Bond prices mixed By Solarina Ho TORONTO, May 21 (Reuters) - The Canadian dollar was weaker against the U.S. dollar on Tuesday following a holiday in Canada and as its counterpart rallied ahead of testimony by U.S. Federal Reserve Chairman Ben Bernanke on Wednesday. It was little changed from ...

European shares erase losses after Wall St open

Tue, 21 May 2013 10:05:55 -0400

LONDON | Tue May 21, 2013 10:05am EDT LONDON May 21 (Reuters) - European shares reversed earlier losses to trade flat on Tuesday, taking heart from solid opening gains on Wall Street. The FTSEurofirst 300 was flat at 1,251.59 points at 1400 GMT , recovering from a session low of 1,243.96 after U.S. stock markets shrugged off concerns about a possible end to the Federal Reserve's bond ...

Ontario NDP to back Liberal budget avoiding election

Tue, 21 May 2013 10:03:01 -0400

TORONTO | Tue May 21, 2013 10:03am EDT TORONTO May 21 (Reuters) - Ontario New Democratic Party leader Andrea Horwath said on Tuesday she will support Premier Kathleen Wynne's budget, ensuring the minority Liberal government will survive the budget vote and avoiding an election for now. Wynne's Liberals hold 51 seats in the 107-seat Ontario legislature, meaning they need the ...

BRIEF-JPMorgan Chase shares hit highest level since February 2001

Tue, 21 May 2013 10:01:16 -0400

NEW YORK | Tue May 21, 2013 10:01am EDT NEW YORK May 21 (Reuters) - JPMorgan Chase and Co : * Shares hit highest level since February 2001, now up 1.9 ...

Activist investor wants Alere to explore $2.5 bln unit sale -sources

Tue, 21 May 2013 09:59:26 -0400

NEW YORK | Tue May 21, 2013 9:59am EDT NEW YORK May 21 (Reuters) - An activist investor in Alere Inc wants the health diagnostics and services company to explore a sale of its drug testing business, which it believes could fetch as much as $2.5 billion and help Alere pay down debt, two people familiar with the matter said on Tuesday. Alere, which has a $2.1 billion market value but has ...

Currencies Dollar higher as traders await Fed speakers

Tue, 21 May 2013 09:56:57 -0400

NEW YORK (MarketWatch) -- The U.S. dollar gained ground versus most major rivals Tuesday, with investors awaiting remarks from a pair of Federal Reserve policy makers a day ahead of congressional testimony by Fed Chairman Ben ...

Market Snapshot U.S. stocks rise with Fed speakers on tap

Tue, 21 May 2013 09:56:55 -0400

NEW YORK (MarketWatch) -- U.S. stocks rose on Tuesday, with investors expected to scrutinize speeches by two Federal Reserve officials for any clues as to when the central bank may begin to scale back its $85-billion-a-month asset-purchase ...

Movers Shakers Tuesday’s movers Medtronic Carnival

Tue, 21 May 2013 09:56:54 -0400

NEW YORK (MarketWatch) -- Shares of J.P. Morgan, Yahoo and Apple attracted investor attention in premarket trade on Tuesday. Shares of Medtronic Inc. rose while Carnival Corp. shares ...

African Development Bank to host Innovative Financing Seminar on Infrastructure and Diaspora bonds

Tue, 21 May 2013 09:45:46 -0400

AfDB's annual meetings in Morocco on May 29, 2013. One of the main objectives of the seminar to be at held at the Palmeraie Golf Palace in Marrakech, themed "Financing African Structural Change - Infrastructure and Diaspora Bonds" is to raise awareness of all stakeholders in the role that infrastructure and diaspora bonds can play in catalyzing financing to address the existing ...

UPDATE 5-Oil falls on concern about Federal Reserve direction

Tue, 21 May 2013 09:45:14 -0400

Tue May 21, 2013 9:45am EDT * Fresh conflict in Syria supports prices * Weak demand outlook, well supplied market weigh * Brent-WTI spread heading for lowest close in over two years * Coming Up: API weekly crude stock report at 2030 GMT (Updates prices, adds Syria-Israel clash in paragraph 10) By Simon Falush LONDON, May 21 (Reuters) - Brent oil futures fell towards $104 per barrel on Tuesday ...

Regeneron Sanofi asthma drug seen as potential game changer

Tue, 21 May 2013 09:29:33 -0400

(Reuters) - A new type of asthma drug meant to attack the underlying causes of the respiratory disease slashed episodes by 87 percent in a mid-stage trial, making it a potential game changer for patients with moderate to severe disease, researchers said on ...

Update-Moodys assigns B2 to Cinemark USA bonds

Tue, 21 May 2013 09:16:53 -0400

Tue May 21, 2013 9:16am EDT Cinemark USA, Inc. ...

US STOCKS-Wall St to drift near record high eyes on Fed

Tue, 21 May 2013 09:12:59 -0400

Tue May 21, 2013 9:12am EDT * Home Depot raises outlook, shares jump * Goldman Sachs sees S&P 500 at 1,750 by year-end * JPMorgan shareholders to decide on Dimon's chairmanship * Futures up: Dow 21 pts, S&P 1.7 pts, Nasdaq 0.75 pt By Rodrigo Campos NEW YORK, May 21 (Reuters) - U.S. stocks were set to open little changed on Tuesday after the S&P 500 hit yet another intraday record in the ...

Mayor Parker shows off Houston to Wall Street Journal

Tue, 21 May 2013 09:10:14 -0400

Houston Mayor Annise Parker recently got the chance to show The Wall Street Journal why the Petro Metro has been named the coolest place to live in the U.S. and a boomtown. Houston Mayor Annise Parker recently got the chance to show The Wall Street Journal why the Petro Metro has been named the coolest place to live in the U.S. and a boomtown. As part of The Weekend Interview piece, Parker took ...

T.J. Maxx parent TJXs profit forecast may miss Street estimate

Tue, 21 May 2013 09:03:39 -0400

Tue May 21, 2013 9:03am EDT May 21 (Reuters) - TJX Cos Inc, owner of the low-price T.J. Maxx and Marshalls chains, reported a higher first-quarter profit, and forecast more sales growth in the current quarter. But the retailer, whose chains sells fashion and home goods at big discounts to department store prices, gave a profit forecast for the current quarter that could miss Wall Street ...

Essar signs $1 bln financing deal with China

Tue, 21 May 2013 09:01:06 -0400

MUMBAI | Tue May 21, 2013 9:01am EDT MUMBAI May 21 (Reuters) - Essar Energy Plc on Tuesday signed a $1 billion financial cooperation agreement with the China Development Bank and PetroChina International Co. Ltd. , according to a document seen by Reuters. Detail of the deal - signed in Mumbai during a visit by the Chinese premier - were not immediately known. Sources on Monday told ...

CANADA STOCKS-TSX may open higher in catch up after long weekend

Tue, 21 May 2013 08:56:59 -0400

Tue May 21, 2013 8:56am EDT May 21 (Reuters) - Canada's main stock index looked set to open slightly higher, catching up with gains in global equity markets following a Canadian long weekend, as investors cautiously awaited the release on Wednesday of minutes from the latest U.S. Federal Reserve meeting. TOP STORIES * British inflation fell twice as fast as expected last month, giving ...

Sweden probes former Saab executives in tax investigation

Tue, 21 May 2013 08:55:30 -0400

STOCKHOLM | Tue May 21, 2013 8:55am EDT STOCKHOLM May 21 (Reuters) - Swedish prosecutors have detained the former chief executive of bankrupt car maker Saab and two others in an investigation into suspected tax offences relating to the running of the company, officials said on Tuesday. In documents released by Vanersborg court in western Sweden, home to the former car maker, the ...

Bulgarias ex-PM Borisov says he is convinced rivals can form government

Tue, 21 May 2013 08:51:47 -0400

Tue May 21, 2013 8:51am EDT * Centre-right GERB certain Socialists can form government * Bulgaria locked in a political stalemate * Unemployment close to eight-year high By Tsvetelia Tsolova SOFIA, May 21 (Reuters) - The head of Bulgaria's largest party said on Tuesday he was convinced his rivals would be able to form a government, indicating a political stalemate that could undermine the ...

Iranians face new Internet curbs before presidential election

Tue, 21 May 2013 08:50:36 -0400

By Yeganeh TorbatiDUBAI (Reuters) - Iranians are struggling with slower Internet speeds and limited access ahead of an unpredictable presidential election that has put hardline Islamist authorities on alert for possible unrest.Experts and web users say they believe the Internet obstacles are related to the June 14 presidential vote, the first since 2009 polls in which accusations of fraud - ...

BRIEF-SoundBite Communications jumps 65.6 percent premarket

Tue, 21 May 2013 08:50:03 -0400

NEW YORK | Tue May 21, 2013 8:50am EDT NEW YORK May 21 (Reuters) - SoundBite Communications Inc : * Jumps 65.6 percent to $4.95 in premarket; to be acquired by Genesys for $5 per ...

FOREX-Dollar resumes rally Feds Bernanke key to more gains

Tue, 21 May 2013 08:46:48 -0400

Tue May 21, 2013 8:46am EDT * Japanese economy minister hopes for "balanced" yen * Bernanke's Congressional testimony on Wednesday, BOJ meeting in focus NEW YORK May 21 (Reuters) - The dollar continued its advance against the yen on Tuesday after a Japanese minister watered down previous remarks suggesting the yen had weakened enough, but gains were capped before Wednesday's ...

BRIEF-Goldman Sachs sees SP 500 at 1750 by year-end 2013

Tue, 21 May 2013 08:45:53 -0400

Tue May 21, 2013 8:45am EDT May 21 (Reuters) - *Goldman Sachs sees S&P 500 at 1,750 by year end 2013 *Goldman Sachs sees S&P 500 at 1,900 by 2014; 2,100 by 2015 *Goldman Sachs forecasts dividends will rise by 30 pct in next two years, dividend yields likely to stay around 2 pct *Goldman Sachs forecasts US economy to achieve above-trend real GDP growth in ...

BRIEF-Yingli Green Energy jumps 23.2 percent premarket

Tue, 21 May 2013 08:45:52 -0400

NEW YORK | Tue May 21, 2013 8:45am EDT NEW YORK May 21 (Reuters) - Yingli Green Energy Holding Co Ltd : * Jumps 23.2 percent to $3.82 in premarket after preliminary Q1 ...

METALS-Copper edges up on U.S. outlook China imports cap gains

Tue, 21 May 2013 08:45:43 -0400

* Traders await Thursday's flash PMIs from U.S., Europe, China * China April refined copper imports down 33 pct from year ago * Market looks to Wednesday testament on U.S. Fed bond buying plans By Maytaal Angel LONDON, May 21 (Reuters) - Copper rose on Tuesday as investors remained confident about the U.S. economic recovery and kept an eye on a protracted production outage in Indonesia, ...

BRIEF-TJX shares down 1.5 percent in premarket trade after results

Tue, 21 May 2013 08:44:25 -0400

NEW YORK | Tue May 21, 2013 8:44am EDT NEW YORK May 21 (Reuters) - TJX Companies Inc : * Shares down 1.5 percent in premarket trade after ...

UPDATE 1-Saks first-quarter same-store sales beat estimates

Tue, 21 May 2013 08:39:09 -0400

Tue May 21, 2013 8:39am EDT May 21 (Reuters) - Saks Inc on Tuesday reported higher-than-expected first-quarter sales but said investments to launch an e-commerce site for its outlet chain would weigh more on profits than expected. Sales at stores open at least a year rose 5.9 percent, while analysts were expecting a 2.6 percent increase, according to Thomson Reuters I/B/E/S. Sales at its famed ...

UPDATE 2-Saks sees sales rising speeds up e-commerce launch

Tue, 21 May 2013 08:39:09 -0400

Tue May 21, 2013 10:06am EDT By Phil Wahba May 21 (Reuters) - Saks Inc reported higher-than-expected first-quarter sales on Tuesday and said it would speed up the launch of an e-commerce site for its outlet chain as it tries to catch rivals. Its shares rose 6.8 percent to $13.12 in early trading, the highest level since before the 2008 financial crisis that decimated luxury sales in the United ...

Brazil may use accounting gimmick to boost revenue-report

Tue, 21 May 2013 08:35:24 -0400

SAO PAULO | Tue May 21, 2013 8:35am EDT SAO PAULO May 21 (Reuters) - The Brazilian government could use an accounting gimmick to boost revenue and meet fiscal targets for this year, O Estado de S. Paulo reported on Tuesday, citing an executive decree. The decree, which was published this week in the government gazette, authorizes the government to bring forward about $15 billion from the ...

COMPETITIVE MUNICIPAL SALE CALENDAR

Tue, 21 May 2013 08:34:35 -0400

*=BANK ...

Laredo Petroleum exits Anadarko Basin with $438 mln asset sale

Tue, 21 May 2013 08:33:10 -0400

Tue May 21, 2013 8:33am EDT May 21 (Reuters) - Laredo Petroleum Holdings Inc said it would sell its assets in the Anadarko Basin in Western Oklahoma and Texas to affiliates of EnerVest Ltd for $438 million to raise capital for its drilling activities in the Permian Basin. EnerVest, which manages oil and gas properties on behalf of institutional investors, will acquire about 104,000 net acres of ...

Los Angeles County to sell $1 bln notes week of June 2

Tue, 21 May 2013 08:25:00 -0400

Tue May 21, 2013 8:25am EDT May 21 (Reuters) - Los Angeles County is planning to sell $1.0 billion of tax and revenue anticipation notes during the week of June 2, said a market source on Tuesday. The lead manager on the sale is Goldman Sachs and ...

AutoZone profit rises as costs fall

Tue, 21 May 2013 08:20:16 -0400

AutoZone Inc , the largest U.S. auto parts retailer, reported a 7 percent rise in quarterly profit as costs fell. Net income rose to $265.6 million, or $7.27 per share, in the third quarter, from $248.6 million, or $6.28 per share, a year earlier. Revenue rose 4.5 percent to $2.21 billion. (Reporting by Bijoy Koyitty in ...

Best Buy profit tops estimates sales miss

Tue, 21 May 2013 08:19:31 -0400

(Reuters) - Best Buy Co Inc reported weaker-than-expected quarterly sales on Tuesday and warned that a slew of investments to win back shoppers could squeeze profits in the near ...

Softbank to issue record bonds for Sprint takeover

Tue, 21 May 2013 07:41:26 -0400

TOKYO (AFP) - Japanese mobile operator Softbank said Tuesday it planned to raise $3.9 billion through a record bond issuance in June to finance its proposed takeover of US firm Sprint Nextel.Softbank, which is under pressure from Sprint shareholders to raise its bid, will sell five-year debt to Japanese investors after a similar issuance worth 300 billion yen in March, a company spokeswoman ...

Wall Street Continues To Be Nervous

Tue, 21 May 2013 07:38:22 -0400

markets closed lower, unimpressed by the lackluster Wall Street lead. European stocks are also seeing downside on the back of some profit taking. The domestic markets are likely to take cues from earnings from some key companies such as Home Depot (HD), Best Buy (BBY), Medtronic (MDT) and Saks (SKS) and speeches by two Federal Reserve presidents. As of 6:15 pm ET, the Dow futures are rising 12 ...

Assault on Wall Street - A Review

Tue, 21 May 2013 07:37:04 -0400

Assault on Wall Street glorifies the revenge killing of Wall Street big wigs by a seemingly decent man who lost everything, including his wife, due to the manipulation and fraud of those he gunned down. Combat veteran and armored car driver, Jim Baxford reaches a hefty body for this sort of thing. He's got nothing on the last three presidents of the United States who bear ...

Corrections U.K. stocks extend gains to 12-year high

Tue, 21 May 2013 07:34:50 -0400

A previous headline for this story stated that the FTSE 100 was heading for a 12-month high, although the index is on track for a 12-year high. The story has been ...

Medtronic profit beats estimates as international sales jump

Tue, 21 May 2013 07:33:41 -0400

Tue May 21, 2013 7:33am EDT May 21 (Reuters) - Medical device maker Medtronic Inc reported a better-than-expected quarterly profit driven by strong international sales. Net earnings were $969 million, or 95 cents per share, for the fourth quarter ended April 26, compared with $991 million, or 94 cents per share, a year earlier. Excluding special items, Medtronic earned $1.10 per share. On that ...

Indias REC selling at least 5 bln rupees in tier II bonds - termsheet

Tue, 21 May 2013 07:20:15 -0400

MUMBAI | Tue May 21, 2013 7:20am EDT MUMBAI May 21 (Reuters) - India's Rural Electrification Corp Ltd is planning to raise at least 5 billion rupees ($90.74 million) in 10-year unsecured subordinate debt, a termsheet seen by Reuters showed. The firm has sought bids from arrangers on Wednesday and has said the issue will tentatively open on Thursday and close on Friday, the document ...

European share rally stalls on doubts about Fed support

Tue, 21 May 2013 07:18:47 -0400

news ) falls 0.5 pct * Market worries that U.S. central bank may trim QE programme * Most traders still positive on shares over longer term * Go short on Euro STOXX futures, says Nomura By Sudip Kar-Gupta LONDON, May 21 (Reuters) - European shares fell from multi-year highs on Tuesday on concerns the U.S. central bank could call an earlier-than-expected halt to the stimulus programme ...

Democrats make last push in primary to be mayor of Harrisburg Pennsylvania

Tue, 21 May 2013 07:15:10 -0400

(Reuters) - The mayor of Harrisburg, Pennsylvania's cash-strapped capital, faces off on Tuesday against two fellow Democrats in a primary election that will likely determine who leads a city that has become a poster child for financial ...

Home Depot quarterly profit sales rise

Tue, 21 May 2013 07:14:55 -0400

HD.N ) report higher quarterly sales and earnings on Tuesday, prompting the world's largest home improvement chain to boost its sales outlook for the ...

Therese Polettis Tech Tales H-P investors ignore dour view on Wall Street

Tue, 21 May 2013 07:12:48 -0400

Hewlett-Packard CEO Meg Whitman faces a downbeat mood on Wall Street, but investors have still sent the tech giant's shares up more than 80% over the last six ...

Ex-Dolphin Chad Johnson bonds out of Broward jail | Video

Tue, 21 May 2013 07:11:16 -0400

Chad Johnson was jailed briefly Monday after he was accused of violating his probation on a domestic violence charge. Johnson, 35, pleaded no contest last year to a battery charge after his wife, reality TV ...

BRIEF-Carnival shares down 11.7 pct after guidance

Tue, 21 May 2013 07:11:09 -0400

NEW YORK | Tue May 21, 2013 7:11am EDT NEW YORK May 21 (Reuters) - Carnival Corp: * Shares down 11.7 percent premarket after guidance * Royal caribbean cruises ltd shares down 4.3 percent in ...

Qatars Doha Bank may sell bonds to raise capital - CEO

Tue, 21 May 2013 07:06:28 -0400

Tue May 21, 2013 7:06am EDT * CEO says has multiple options for capital raise * Bank focused on regional growth currently * Gulf banks have sold Tier 1 bonds in recent months By David French DUBAI, May 21 (Reuters) - Qatar's Doha Bank could issue a capital-boosting bond instead of shares as planned, although it was evaluating the best route to help raise core capital, its chief executive ...

STXNEWS LATAM-GP Investments buys stake in Swiss fund Apen for $33 mln -filing

Tue, 21 May 2013 07:03:44 -0400

Tue May 21, 2013 7:03am EDT GP Investments Ltd, the largest Latin American private equity firm, agreed on Tuesday to buy a 26.7 percent stake in Swiss investment Fund company Apen Ltd for $33 million as it seeks to expand the type of assets it manages. The acquisition of the Apen stake will allow GP Investments, which is based in Hamilton, Bermuda, to venture into management of equity ...

RPT-JPMorgan investors on edge over vote on Dimon what if they win

Tue, 21 May 2013 07:02:59 -0400

Tue May 21, 2013 7:02am EDT By David Henry TAMPA, Florida May 21 (Reuters) - As final ballots come in on a proposal to strip JPMorgan Chase and Co Chairman and Chief Executive Jamie Dimon of his chairman title, some worry about what will happen if shareholders win what will likely be a close vote. JPMorgan's annual meeting on Tuesday will bring to head a months-long and bitter shareholder ...

RPT-Yahoos rise in Asia offsets risk from Tumblr bet

Tue, 21 May 2013 07:00:09 -0400

Tue May 21, 2013 7:00am EDT By Alexei Oreskovic SAN FRANCISCO May 20 (Reuters) - Yahoo Inc Chief Executive Marissa Mayer's $1.1 billion acquisition of blogging service Tumblr will be a test of her ability to revive the aging Web portal. Luckily for her, her performance may be graded generously. Mayer faces plenty of challenges in her efforts to turn six-year-old Tumblr into a money-spinner, ...

CORRECTED-U.S. asks judge to deny SPs motion to dismiss fraud lawsuit

Tue, 21 May 2013 06:55:40 -0400

Tue May 21, 2013 6:55am EDT (Corrects company name to McGraw Hill Financial Inc from McGraw-Hill Companies Inc in para 2) May 21 (Reuters) - The U.S. Justice Department on Monday asked a federal judge to deny Standard and Poor's motion to dismiss a government lawsuit against the ratings agency, saying its statements on certain financial products were fraudulent and not mere ...

UPDATE 3-Vodafone keeps Verizon payout to make up for European slump

Tue, 21 May 2013 06:52:54 -0400

Tue May 21, 2013 6:52am EDT * Biggest ever fall in organic service revenue * FY earnings down 3.1 percent, just beating market view * CEO refuses to comment on sale of Verizon stake * Will keep hold of latest Verizon payout * Shares flat By Kate Holton and Paul Sandle LONDON, May 21 (Reuters) - Vodafone will reinvest a $3.2 billion dividend from its healthy U.S. arm to counter weakness in ...

BRIEF-Home Depot shares up 4.2 pct before the bell

Tue, 21 May 2013 06:47:58 -0400

NEW YORK | Tue May 21, 2013 6:47am EDT NEW YORK May 21 (Reuters) - Home Depot Inc : * Shares up 4.2 percent before the bell following results, ...

Manchester United Top Table for Premier League TV Earnings

Tue, 21 May 2013 06:35:34 -0400

LONDON ...

Indications Stock futures point south ahead of Fed speakers

Tue, 21 May 2013 06:26:17 -0400

MADRID (MarketWatch) -- U.S. stock market futures turned lower on Wednesday with investors expected to look for more clues on any tapering of the Federal Reserve's easing program. Two Fed presidents with voting rights on the interest-rate setting committee are due to hit the ...

Stocks to Watch Best Buy Home Depot are Tuesday’s stocks to watch

Tue, 21 May 2013 06:26:16 -0400

SAN FRANCISCO (MarketWatch) -- Tuesday is shaping up to be a big day for retail earnings, with Best Buy Co., Home Depot Inc. and Saks Inc. scheduled to release quarterly ...

Deals of the day -- mergers and acquisitions

Tue, 21 May 2013 06:16:58 -0400

Tue May 21, 2013 6:16am EDT May 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1015 GMT on Tuesday: ** Specialty chemicals producer Rockwood Holdings Inc's pigments businesses have attracted offers from buyout firms including Blackstone Group LP and Advent International Corp, several people familiar with the matter said. ** U.S. satellite company Dish ...

Europe stock rally at risk as economy stays weak

Tue, 21 May 2013 06:02:40 -0400

Tue May 21, 2013 6:02am EDT * Central bank cash fuels index gains despite weak data * Rally defies earning downgrades, nasty data surprises * Market tolerance seen unlikely to last past year-end By Simon Jessop LONDON, May 21 (Reuters) - Central bank cash may not be enough to keep European stocks rising beyond the end of the year in the face of the region's weak company and economic ...

UPDATE 2-IT firm iGate sacks CEO over undisclosed relationship

Tue, 21 May 2013 06:01:19 -0400

Tue May 21, 2013 6:01am EDT By Sumeet Chatterjee and Harichandan Arakali MUMBAI/BANGALORE May 21 (Reuters) - IT outsourcing company iGate Corp said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the industry's best-known executives for sexual harassment. Murthy had led several initiatives to improve the ...

UPDATE 2-Mercedes S.Africa strike ends union demands sector pay hike

Tue, 21 May 2013 05:50:57 -0400

Tue May 21, 2013 5:50am EDT * Auto sector 20 percent wage rise demands hit rand * Currency tumbles for ninth straight session * Rate cut hopes dashed By Wendell Roelf CAPE TOWN, May 21 (Reuters) - A two-day wildcat strike at a Mercedes Benz plant in South Africa ended on Tuesday but industrial union NUMSA demanded a hefty pay hike for the sector, raising the prospect of labour unrest in factories ...

Indonesias Freeport mine risks prolonged closure over disaster

Tue, 21 May 2013 05:49:26 -0400

Tue May 21, 2013 5:49am EDT * Death toll rises to 21, hopes fade for survivors * Unions demand thorough investigation * Mine has been closed for a week By Michael Taylor JAKARTA, May 21 (Reuters) - Freeport McMoRan Copper and Gold Inc's Indonesian mine could face a prolonged closure and scrutiny over its underground mining plans after one of the country's worst-ever mining disasters, ...

METALS-Copper slips ahead of factory data U.S. outlook supports

Tue, 21 May 2013 05:35:25 -0400

* Traders await Thursday's flash PMIs from U.S., Europe, China * China April refined copper imports down 33 pct from year ago * Market awaits Wednesday testament on U.S. Fed bond buying plans By Maytaal Angel LONDON, May 21 (Reuters) - Copper slipped on Tuesday as traders grew nervous ahead of a slew of factory data this week and as they focused on disappointing import numbers from top ...

TABLE-Indonesia sells 9.35 trln rupiah of bonds yields up

Tue, 21 May 2013 05:19:28 -0400

JAKARTA, May 21 (Reuters) - Indonesian government raised 9.35 trillion rupiah ($958.24 million) at an auction on Tuesday, above an initial target of 8 trillion rupiah with most yields rising from the previous auction, the finance ministry's debt office said. Yields of 1-year T-bill, 15-year bond and 20-year bond were higher than the May 6 auction. The highest bid-to-cover ratio was 1.67 for ...

UPDATE 3-Obama to meet with Chinas Xi in California June 7-8

Tue, 21 May 2013 05:17:11 -0400

Tue May 21, 2013 5:17am EDT WASHINGTON May 20 (Reuters) - President Barack Obama and Chinese President Xi Jinping will hold their first meeting since Xi became president in March when they sit down for a June 7-8 summit in Rancho Mirage, California, the White House announced on Monday. The two leaders are likely to discuss ways to apply pressure on North Korea to give up its nuclear weapons ...

EURO GOVT-Investors price out Greek default as curve normalises

Tue, 21 May 2013 05:09:07 -0400

Tue May 21, 2013 5:09am EDT * Focus on Ben Bernanke's testimony for hints on stimulus * Bund losses might be limited by weak euro zone outlook * Greek 10-year yield falls below 30-year for 1st time since 2010 By Emelia Sithole-Matarise LONDON, May 21 (Reuters) - Greek 10-year bond yields fell below longer-dated ones on Tuesday for the first time in three years as investors priced out the risk ...

European shares fall from multi-year highs Sonova slumps

Tue, 21 May 2013 05:03:34 -0400

* FTSEurofirst 300 down 0.1 pct, Euro STOXX falls 0.2 pct * Concerns over end to QE halts equity market rally * Traders remain bullish on long-term By Sudip Kar-Gupta LONDON, May 21 (Reuters) - European shares fell from multi-year highs on Tuesday, with the UK market having hit a near 13-year peak this week, as concerns over a possible end to central bank stimulus measures halted the ...

EU antitrust regulators to rule on ICE NYSE deal by June 24

Tue, 21 May 2013 05:03:22 -0400

BRUSSELS (Reuters) - European antitrust regulators will decide by June 24 whether to clear an $8.2 billion (5.4 billion pounds) takeover bid by IntercontinentalExchange Inc ...

GLOBAL MARKETS-Dollar firms before Bernanke inflation dip hits sterling

Tue, 21 May 2013 04:50:09 -0400

* Dollar index firmer, but down from near 3-year high * Yen dips after minister says seeks 'balance' for currency * European shares fall on fears Fed may scale back stimulus By Marc Jones LONDON, May 21 (Reuters) - The dollar firmed, gold fell and shares slipped off five-year highs on Tuesday as investors postioned for an update on the future of the U.S. Federal Reserve's stimulus ...

DIARY-NON SP WEEK AHEAD

Tue, 21 May 2013 04:44:52 -0400

THOMSON REUTERS, Diary of Non S&P 500 Corporate earnings for U.S. companies from May 21, 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 - ...

China Galaxy jumps in gray market ahead of Hong Kong debut

Tue, 21 May 2013 04:43:20 -0400

HONG KONG | Tue May 21, 2013 4:43am EDT HONG KONG May 21 (Reuters) - China Galaxy Securities Co Ltd soared as much as 8.3 percent in gray market trading on Tuesday, signaling expectations the Chinese state-owned brokerage will climb in its official debut on the Hong Kong stock exchange on Wednesday. China Galaxy shares changed hands at HK$5.70 in late afternoon and rose as high as ...

Qatar Norway Azerbaijan to each get about $500 mln of VTB shares -CEO

Tue, 21 May 2013 04:27:10 -0400

LONDON | Tue May 21, 2013 4:27am EDT LONDON May 21 (Reuters) - The sovereign wealth funds of Qatar, Norway and Azerbaijan will each get about $500 million of the new shares being issued by VTB, the Russian bank's chief executive Andrei Kostin said on Tuesday. The $500 million allocation is the "kind of ticket we are thinking of" Kostin told Reuters in London. The allocations ...

Credit Suisse replaces Morgan Stanley as No. 2 Asia prime broker

Tue, 21 May 2013 04:17:58 -0400

Reuters © The logo of Swiss bank Credit Suisse (CS) in seen in front of an office building at the Bahnhofstrasse in Zurich April 18, 2013. REUTERS/Arnd ...

Treasury Secretary denies department gave in to political interference

Tue, 21 May 2013 04:02:52 -0400

Australia The head of Treasury has hit back at the Coalition's claims that the federal budget forecasts were fudged to suit the Government.Coalition MPs have accused Treasury of being politicised and implied the budget forecasts are deliberately optimistic.But Treasury Secretary Martin Parkinson has hit back at those claims, saying his department is not swayed by its political masters.Dr ...

European shares slip from five-year highs

Tue, 21 May 2013 03:57:29 -0400

LONDON, May 21 (Reuters) - European shares edged back on Tuesday from five-year highs, with some traders citing concerns over a possible end to central bank stimulus measures which have led a global equity market rally this year. The pan-European FTSEurofirst 300 index fell 0.3 percent to 1,248.87 points, while the euro zone's blue-chip Euro STOXX 50 index declined 0.4 percent to ...

Aust bonds prices weaker

Tue, 21 May 2013 03:54:27 -0400

Australian bond futures prices are lower as traders wait for key events over the next fortnight. Nomura head of fixed income Jon Linton said it had been a quiet trading session, though futures prices weakened as the market prepared for an announcement regarding Australian government bonds. The Australian Office of Financial Management will announce the price of its new April 2025 bond on ...

PRECIOUS-Gold off lows as Chinese buyers emerge silver pressured

Tue, 21 May 2013 03:53:10 -0400

* Gold briefly reclaims $1,400 on Chinese buying interest * Investors eyeing Bernanke on stimulus signals * Silver still near 2-1/2-year trough By A. Ananthalakshmi SINGAPORE, May 21 (Reuters) - Gold climbed off session lows on Tuesday as Chinese buyers picked up the metal, easing some pressure on bullion which has been hit by persistent outflows from exchange-traded funds and has lost nearly a ...

Honda says small jets U.S. certification delayed by a year

Tue, 21 May 2013 03:46:08 -0400

TOKYO | Tue May 21, 2013 3:46am EDT TOKYO May 21 (Reuters) - Honda Motor Co Ltd's small passenger jet will not be licensed to fly by authorities in the United States until the second half of 2014, a year later than the company originally planned, Honda said on Tuesday. Honda expects the U.S. Federal Aviation Administration to certify the unconventional-looking HondaJet late next ...

GLOBAL MARKETS-Dollar firms as Fed suspense builds shares off highs

Tue, 21 May 2013 03:38:48 -0400

Tue May 21, 2013 3:38am EDT * Dollar index firmer, but down from near 3-year high * European shares open 0.3 percent lower after recent highs * Gold steadies By Marc Jones LONDON, May 21 (Reuters) - The dollar edged higher, gold steadied and European shares remained near five-year highs on Tuesday as investors wait to see if the U.S. Federal Reserve will give any signal on the future of its ...

UPDATE 1-Marine Harvest may raise $1.7 bln Cermaq bid

Tue, 21 May 2013 03:36:16 -0400

Tue May 21, 2013 3:36am EDT * Marine Harvest says ready to improve offer * Urges Cermaq shareholder to reject Copeinca deal * China Fishery says may raise its Copeinca offer OSLO, May 21 (Reuters) - Marine Harvest, the world's biggest fish farmer, may raise its $1.7 billion bid for rival Cermaq if the target company's shareholders drop plans to take over Peruvian fish feed maker Copeinca, ...

EURO GOVT-Greek bond yield curve disinverts

Tue, 21 May 2013 03:35:41 -0400

LONDON | Tue May 21, 2013 3:35am EDT LONDON May 21 (Reuters) - The Greek government bond yield curve returned to an uphill shape on Tuesday, as investors continued to price out default risks after last week's sovereign ratings upgrade by Fitch. The difference between Greece's 30- and 10-year yields turned positive to last trade at 3 basis points, with the curve disinverting again ...

PRESS DIGEST - Ireland - May 21

Tue, 21 May 2013 03:07:50 -0400

Tue May 21, 2013 3:07am EDT These are some of the leading stories in Ireland's newspapers on Tuesday. Reuters has not verified these stories and cannot vouch for their accuracy: THE IRISH TIMES - Apple has used a complex web of offshore entities, including two Irish subsidiaries which it claims are not tax-resident anywhere, to avoid paying billions of dollars in U.S. - The government last ...