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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 ...

Tesla Motors may repay U.S. loan by Wednesday CEO

Mon, 20 May 2013 22:33:41 -0400

CEO of Tesla Motors and SpaceX Elon Musk speaks during a session titled ''To Infinity and Beyond: Jeff Skoll talks with Elon And Kimbal Musk'' at the Milken Institute Global Conference in Beverly Hills, California April 29, ...

FOREX-Dollar inches up after Japan economy minister clarifies yen comments

Mon, 20 May 2013 21:52:49 -0400

Mon May 20, 2013 9:52pm EDT * Japanese econ minister says he hopes FX market can find 'balance' * BOJ meeting, Bernanke's Congressional testimony in focus * Dollar index stays near-3-yr high By Sophie Knight TOKYO, May 21 (Reuters) - The dollar edged up against the yen on Tuesday after Japan's economy minister clarified earlier remarks about the yen's weakness that had toppled ...

UPDATE 1-Kelly Rowland Paulina Rubio join U.S. X Factor judges panel

Mon, 20 May 2013 21:49:39 -0400

Mon May 20, 2013 9:49pm EDT LOS ANGELES May 20 (Reuters) - Pop singer Kelly Rowland and Mexican singer-actress Paulina Rubio have signed onto "The X Factor" judging panel replacing Britney Spears and music mogul L.A. Reid, the Fox television talent competition produced by Simon Cowell said on Monday. Rowland, who rose to fame with R&B group Destiny's Child, and Rubio will be charged ...

Occupy Wall Street Challenges DOJ On Foreclosure Crisis

Mon, 20 May 2013 21:43:29 -0400

I don't know if Occupy Wall Street has been quiet lately or if I have just not been paying attention. Nonetheless, they have something going on right now. ...

Sprint gets waiver from Softbank permitting discussions with Dish

Mon, 20 May 2013 21:28:20 -0400

(Reuters) - Wireless service provider Sprint Nextel Corp received a waiver from SoftBank Corp on various provisions of their merger agreement permitting it to engage in discussions with Dish Network ...

Japans SoftBank to issue $3.9 bln bonds in June - filing

Mon, 20 May 2013 21:25:30 -0400

TOKYO | Mon May 20, 2013 9:25pm EDT TOKYO May 21 (Reuters) - Japan's SoftBank Corp will issue 400 billion yen ($3.9 billion) in retail bonds in June, the company said in a filing on Tuesday. Japanese mobile operator SoftBank launched a $20 billion bid for U.S. wireless service provider Sprint Nextel Corp last year, which is now facing an opposing bid from satellite TV service Dish ...

Nikkei slips from 5-12-year high as yen weakness put on hold

Mon, 20 May 2013 21:17:57 -0400

* Sony Financial falls after earnings guidance disappoints * SoftBank slips, Sprint permitted discussions with Dish By Dominic Lau TOKYO, May 21 (Reuters) - Japan's Nikkei average eased from a 5-1/2-year high on Tuesday after Wall Street gave up earlier gains to end flat and the dollar slipped against the yen on caution before U.S. Federal Reserve Chairman Ben Bernanke fronts a Congressional ...

GLOBAL MARKETS-Dollar index off 3-year high Asian shares ease

Mon, 20 May 2013 21:16:01 -0400

Mon May 20, 2013 9:16pm EDT * Dollar index backs off from near three-year high * MSCI Asia Pacific ex-Japan eases 0.1 percent By Masayuki Kitano SINGAPORE, May 21 (Reuters) - The dollar nursed losses versus a basket of currencies on Tuesday, having retreated the previous day as traders pared back expectations that U.S. Federal Reserve Chairman Ben Bernanke would hint at tapering bond buying this ...

UPDATE 1-JPMorgan under pressure gives up vote information

Mon, 20 May 2013 21:13:43 -0400

Mon May 20, 2013 9:13pm EDT By Karen Freifeld and David Henry May 20 (Reuters) - JPMorgan Chase and Co, under pressure from New York officials, gave shareholders information about an upcoming vote that would increase oversight of Chairman and Chief Executive Jamie Dimon. But the ballot details may have come too late for some investors. The bank's annual meeting is on Tuesday and by far the most ...

ASX falls at open after Wall St closes lower

Mon, 20 May 2013 20:47:03 -0400

UPDATE 8.35am: The Australian sharemarket has opened lower after Wall Street closed in the red overnight.At 8.30am, the benchmark S&P/ASX200 index was down 34.2 points, or 0.7 per cent, at 5174.8, while the broader All Ordinaries index was down 33.8 points, or also 0.7 per cent, at 5151.6.More to ...

UPDATE 2-Kerry visits Oman for arms deal signing talks on Syria Mideast

Mon, 20 May 2013 20:46:05 -0400

Mon May 20, 2013 8:46pm EDT By Arshad Mohammed SHANNON, Ireland May 21 (Reuters) - U.S. Secretary of State John Kerry flies to Oman on Tuesday for Raytheon Co's signing of an estimated $2.1 billion arms deal and to consult on Syria and Iran, U.S. officials said. Oman is expected to sign a letter of intent to purchase a ground-based air defense system that would help protect against cruise ...

U.S. dollar slips against major currencies

Mon, 20 May 2013 20:34:48 -0400

The U.S. dollar retreated against major currencies on Monday after scoring major gains on improved U. S. consumer confidence in the previous ...

Hawaii stocks close mixed on a slightly lower day for Wall Street

Mon, 20 May 2013 20:34:36 -0400

Barnwell Industries stock gained 2.5 percent to lead Hawaii stocks in gains Monday as the broader markets closed lower. The Dow Jones Industrial Average lost 19.12 points, or 0.12 percent, to close at 15,335.28. The Nasdaq lost 2.53 points, or 0.07 percent, to close at 3,496.43. Gainers: Alexander and Baldwin Inc. (NYSE: ALEX) closed at $35.74, up 44 cents, or 1.25 percent; Barnwell Industries Inc. ...

CBS pulls Mike Molly finale with tornado storyline from air

Mon, 20 May 2013 20:34:18 -0400

LOS ANGELES | Mon May 20, 2013 8:34pm EDT LOS ANGELES May 20 (Reuters) - CBS said on Monday that the network will delay airing the season finale of sitcom "Mike and Molly" in the aftermath of the Oklahoma tornados, due to similarities between the events and the episode's storyline. "Due to the tragic events this afternoon in Oklahoma, we are pre-empting tonight's season ...

US dollar shares ease on ratings concerns

Mon, 20 May 2013 20:32:36 -0400

Australia The Australian dollar was back in favour overnight after the US government was warned it will be downgraded again unless it deals with its debts.Moody's issued a note saying US policy makers risk seeing the country's rating being cut from Aaa to Aa1.Interest in the greenback fell, so the Australian dollar jumped half a cent in overnight trade and was worth 98.04 US cents at ...

Aust bonds slightly weaker in quiet trade

Mon, 20 May 2013 20:23:39 -0400

Australian bond futures prices are a touch weaker after a quiet night of trade, with no economic data releases to drive price action. St George economist Janu Chan said the big event for markets this week is the appearance by US Federal Reserve chairman Ben Bernanke before a Congressional committee on Wednesday. Dr Bernanke's testimony will be of particular interest at a time when there is ...

Japans Amari hope FX strikes balance between impact on exports and imports

Mon, 20 May 2013 20:23:27 -0400

TOKYO | Mon May 20, 2013 8:23pm EDT TOKYO May 21 (Reuters) - Japan's Economics Minister Akira Amari said on Tuesday he hopes that the foreign exchange market can strike a balance between the impact on Japanese imports and on exports. Amari, speaking to reporters, said he hopes the yen settles at a level that is in line with the country's economic fundamentals. Amari also said he ...

U.S. court ruling favors Cubist in patent case versus Hospira

Mon, 20 May 2013 20:22:46 -0400

The ruling, in U.S. District Court in Delaware, is a positive development for Cubist in the ongoing case, which is scheduled to go to trial in February 2014, said Cubist spokeswoman Julie DiCarlo. Cubicin, an antibiotic injection used in hospitals to treat bacterial skin infections, is the company's primary revenue ...

OGE assessing power grid damage from Oklahoma tornado

Mon, 20 May 2013 20:19:44 -0400

HOUSTON | Mon May 20, 2013 8:19pm EDT HOUSTON May 20 (Reuters) - Oklahoma Gas and Electric Co, a unit of OGE Corp, has begun to assess damage to its electric grid following Monday's tornado which left a path of destruction near Oklahoma City, a spokesman said Monday evening. The utility has also called on outside utilities to help restore power in the area. OG&E spokesman Brian Alford ...

MF Global trustee liquidates brokers CME Group memberships

Mon, 20 May 2013 20:10:28 -0400

By Tom Polansek CHICAGO | Mon May 20, 2013 8:10pm EDT CHICAGO May 20 (Reuters) - The trustee liquidating MF Global has sold a collection of the bankrupt broker's CME Group memberships for amounts below recent selling prices, according to a list of transactions published by the exchange on Monday. Eighteen months after MF Global collapsed, Trustee James Giddens last week sold a ...

Japan finmin wants BOJ to have thorough dialogue with JGB mkt

Mon, 20 May 2013 20:01:30 -0400

TOKYO | Mon May 20, 2013 8:01pm EDT TOKYO May 21 (Reuters) - Japanese Finance Minister Taro Aso said on Tuesday that he wants the Bank of Japan to have a thorough dialogue with markets in the wake of volatility in the government bond market. "Governor Kuroda is communicating with the market in a thorough way and I expect the bank to continue to do this," Aso said to reporters ...

Spider-Man Broadway venue sold to Britains Ambassador Theatre

Mon, 20 May 2013 19:58:32 -0400

Mon May 20, 2013 7:58pm EDT May 20 (Reuters) - British theater company Ambassador Theatre Group's subsidiary Lyric Theatre LLC has purchased Foxwoods Theatre, currently home to the "Spider-Man" musical, from Live Nation Entertainment Inc, the companies said on Monday. Lyric Theatre paid about $65 million for Foxwoods, according to a person with knowledge of the deal. The Foxwoods ...

Caterpillar Milwaukee workers union to resume contract talks

Mon, 20 May 2013 19:48:01 -0400

CHICAGO | Mon May 20, 2013 7:48pm EDT CHICAGO May 20 (Reuters) - Caterpillar Inc said late on Monday that it would resume contract talks with the union representing about 800 Milwaukee workers who make specialized mining machinery. The company said the two sides would reconvene on Thursday, May 23, ending a two-week hiatus in discussions. The existing contract covering the workers, who ...

UPDATE 2-Obama to meet with Chinas Xi in California June 7-8

Mon, 20 May 2013 19:47:10 -0400

Mon May 20, 2013 7:47pm 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 ...

Raytheon to sign $2.1 bln arms sale to Oman -U.S. officials

Mon, 20 May 2013 19:36:54 -0400

SHANNON, Ireland | Mon May 20, 2013 7:36pm EDT SHANNON, Ireland May 21 (Reuters) - Raytheon Co, one of the largest U.S. weapons makers, is expected to sign an estimated $2.1 billion deal to sell Oman an air defense system while U.S. Secretary of State John Kerry visits the Gulf state this week, U.S. officials said. One official, who spoke on condition of anonymity, told reporters the ...

Microsoft to build Australian cloud computing centres

Mon, 20 May 2013 19:34:39 -0400

SYDNEY (Reuters) - Microsoft Corp is expanding its services for hosting and processing online data in Australia with the establishment of two new "cloud" computing data centres in the country.The world's biggest software company said on Tuesday it was expanding its Windows Azure business to include a major new region in Australia.Data centres, renting out technology resources such ...

Ohio Valley Bank Joins Federal Reserve System

Mon, 20 May 2013 19:25:42 -0400

The Federal Reserve Bank of Cleveland has approved an application by Ohio Valley Bank, Gallipolis, Ohio, to become a member of the Federal Reserve System. Ohio Valley Bank President and CEO Tom Wiseman commented, "I congratulate the employees of Ohio Valley Bank for achieving this milestone in the bank's history. This membership opens up the opportunity for Ohio Valley Bank to ...

Dish eyes LightSquareds Spectrum for $2 bln - Bloomberg

Mon, 20 May 2013 19:24:32 -0400

Mon May 20, 2013 7:24pm EDT May 20 (Reuters) - U.S. satellite company Dish Network Corp has offered to buy bankrupt broadband company LightSquared Inc's radio frequencies for $2 billion, Bloomberg said, quoting people familiar with the bid. Dish Chairman Charlie Ergen made the offer on May 15 and LightSquared has until May 31 to accept or reject it, the news agency said. LightSquared, which ...

Carnival cuts outlook again lower pricing weighs on revenue

Mon, 20 May 2013 19:22:27 -0400

Mon May 20, 2013 7:22pm ...

Aussie Yen and Gold rally as US dollar pressured

Mon, 20 May 2013 19:05:34 -0400

Moodys threatened the US with a downgrade and the US dollar got hit and stocks dropped back a little in overnight trade.This helped drive a very interesting 24 hours with Gold and Silver the big movers hit in early Asian trade and then rebounding as the US dollar came under pressure over the rest of the day. USDJPY reversed of the high of Friday after the Japanese economics minister said the Yen ...

UK first in EU to get Mercks new Schmallenberg vaccine

Mon, 20 May 2013 19:01:00 -0400

LONDON | Mon May 20, 2013 7:01pm EDT LONDON May 21 (Reuters) - British farmers will be the first in Europe to get a vaccine against Schmallenberg virus, a new livestock disease that hit the continent in 2011. Britain's Department for Environment, Food and Rural Affairs said on Tuesday that MSD Animal Health, a unit of Merck and Co , had been issued a licence for the new vaccine after ...

WRAPUP 1-Apple Congress spar over taxes ahead of Tuesday hearing

Mon, 20 May 2013 19:00:24 -0400

Mon May 20, 2013 7:00pm EDT By Patrick Temple-West and Poornima Gupta WASHINGTON/SAN FRANCISCO May 20 (Reuters) - Using an unusual global tax structure, Apple Inc has kept billions of dollars in profits in Irish subsidiaries to pay little or no taxes to any government, a U.S. Senate report on the company's offshore tax structure said on Monday. In a 40-page memorandum released a day before ...

Wall St ends near flat small co stocks in limelight

Mon, 20 May 2013 18:59:17 -0400

US stocks ended little changed on Monday with indexes hovering near record levels as concerns about a correction cut earlier gains that were boosted by acquisition activities. Based on the latest available data, ...

Drop in U.S. underground water levels has accelerated -USGS

Mon, 20 May 2013 18:56:52 -0400

By Environment Correspondent Deborah Zabarenko WASHINGTON | Mon May 20, 2013 6:56pm EDT WASHINGTON May 20 (Reuters) - Water levels in U.S. aquifers, the vast underground storage areas tapped for agriculture, energy and human consumption, between 2000 and 2008 dropped at a rate that was almost three times as great as any time during the 20th century, U.S. officials said on Monday. The ...

United Airlines to return all Boeing 787s to service this week

Mon, 20 May 2013 18:51:45 -0400

CHICAGO | Mon May 20, 2013 6:51pm EDT CHICAGO May 20 (Reuters) - United Airlines said on Monday it expects to have its entire fleet of Boeing 787 Dreamliners back in service this week, as the airline's first flight with the new jetliner in four months landed safely in Chicago. "Every new airplane has issues," United CEO Jeff Smisek said after the flight landed ahead of ...

White House urges Senate to cut crop insurance in farm bill

Mon, 20 May 2013 18:50:09 -0400

WASHINGTON | Mon May 20, 2013 6:50pm EDT WASHINGTON May 20 (Reuters) - The U.S. Senate should cut crop insurance subsidies, the most expensive part of the farm safety net, by $1 billion a year before it passes the new farm bill, the White House said on Monday. The five-year farm bill would cost about $500 billion, with three-fourths of the money going to food stamps for the poor. ...

Southern Co replaces executives in wake of Kemper cost overrun

Mon, 20 May 2013 18:39:46 -0400

HOUSTON | Mon May 20, 2013 6:39pm EDT HOUSTON May 20 (Reuters) - Southern Co's smallest utility unit, Mississippi Power, named a new president on Monday in response to pressure from state regulators concerned about cost overruns at a controversial coal-gasification plant under construction in Kemper County, Mississippi. Mississippi Power said its board elected G. Edison ...

NJ Gov. Christie lowers revenue projections by $165 mln next year

Mon, 20 May 2013 18:37:17 -0400

By Hilary Russ Mon May 20, 2013 6:37pm EDT May 20 (Reuters) - New Jersey Governor Chris Christie's administration on Monday cut state revenue projections through fiscal 2014 by $165 million, in part because of lower energy-related revenue, but the shortfall is not nearly as large as projected by the Democratic-led legislature. The cut to Christie's revenue forecast, which is less than a ...

UPDATE 2-Urban Outfitters sales miss Street estimates shares fall

Mon, 20 May 2013 18:32:15 -0400

Mon May 20, 2013 6:32pm EDT * First-quarter earnings/share $0.32 vs est $0.29 * First-quarter sales rise 14 percent but miss Wall Street estimates * Shares fall 4 percent in after-market trading May 20 (Reuters) - Teen apparel retailer Urban Outfitters Inc's sales missed analysts' estimates even as reduced discounting helped shore up profit in the first quarter. Shares of the company fell ...

UPDATE 1-U.S. charges 3 NYU researchers in Chinese bribery case

Mon, 20 May 2013 18:30:08 -0400

Mon May 20, 2013 6:30pm EDT * Defendants were working on improving MRI technology * Federal prosecutors charge researchers with bribery By Nate Raymond and Jonathan Stempel NEW YORK, May 20 (Reuters) - U.S. authorities brought criminal charges against three New York University researchers on Monday, alleging they conspired to take bribes from Chinese medical and research outfits for details about ...

Enbridge to take Bakken crude with sulfide gas with advance notice

Mon, 20 May 2013 18:29:44 -0400

By Jeanine Prezioso NEW YORK | Mon May 20, 2013 6:29pm EDT NEW YORK May 20 (Reuters) - Enbridge Energy Partners , which had threatened to close an oil rail loading terminal in North Dakota unless the content of potentially deadly sulfide gas in Bakken crude shipments was reduced, now says it will accept shipments of the crude if it is notified in advance. In a government filing late on ...

Regeneron settles all pending litigation with Roches Genentech

Mon, 20 May 2013 18:26:10 -0400

Mon May 20, 2013 6:26pm EDT May 20 (Reuters) - Regeneron Pharmaceuticals Inc said it settled all pending litigation with Roche Holding AG's unit Genentech on the company's eye drug, Eylea, and cancer drug, Zaltrap. Shares of Regeneron were up 1.8 percent in extended trading. Regeneron, which had agreed on Dec. 31, 2011 to make royalty and milestone payments to Genentech based on ...

US stocks dip despite MA activity

Mon, 20 May 2013 18:24:24 -0400

US stocks have slipped despite a flurry of merger and acquisition news this week.Investors are also looking ahead to Federal Reserve Chairman Ben Bernanke's testimony to Congress this week.Yahoo!'s $US1.1 billion ($A1.13 billion) deal to buy blogging platform Tumblr temporarily helped to lift the Nasdaq above the flat line on Monday.But the move was not enough to keep it there.The Dow ...

How the Dow Jones industrial average fared Monday

Mon, 20 May 2013 18:19:40 -0400

The Dow Jones industrial average and the Standard & poor's 500 index edged lower on Monday as investors waited on more information about the Federal Reserve's economic stimulus program. On Wednesday Fed Chairman Ben Bernanke will appear before Congress and the central bank will release minutes of its most recent policy meeting.Both stock indexes are close to record levels after ...

EMERGING MARKETS-Mexico stocks fall to 6-month low Brazil up

Mon, 20 May 2013 18:12:26 -0400

MEXICO CITY, May 20 (Reuters) - Mexican stocks slumped to a six-month low on Monday, hurt by weaker than expected growth data last week that dampened the economic outlook for 2013, while Brazilian stocks rose. Mexican stocks have slumped about 11 percent from a record high hit in January, while Brazil has mounted a more than 5 percent recovery from a 9-month low it hit in late April. * The IPC ...

Pfizer halts study of lymphoma drug unlikely to help survival

Mon, 20 May 2013 18:10:01 -0400

Pfizer Inc , which has been on a hot streak with three recent approvals of cancer drugs, stumbled on Monday, saying it was halting a late-stage trial of a drug ...

White House to brief Democrats on economy on Tuesday

Mon, 20 May 2013 18:04:11 -0400

President Barack Obama talks about the need for Congress to ensure taxes don't go up for the majority of Americans next year, while in the Eisenhower Executive Office Building on the White House complex in Washington, August 3, ...

US prosecutors subpoena of SACs Cohen puzzles defense lawyers

Mon, 20 May 2013 18:03:58 -0400

By Matthew Goldstein NEW YORK | Mon May 20, 2013 6:03pm EDT NEW YORK May 20 (Reuters) - The decision by U.S. prosecutors to compel Steven A. Cohen to testify before a federal grand jury about allegations of insider trading at his $15 billion hedge fund is leaving many criminal defense lawyers scratching their heads. In the past week, federal authorities have issued grand jury subpoenas ...

$A rises and US dollar rally stalls

Mon, 20 May 2013 18:02:39 -0400

THE Australian dollar has surged past 98 US cents as the American currency takes a breather from its rally ahead of an economically-busy ...

Broker-dealer LPL overhauling compliance practices after fines

Mon, 20 May 2013 18:01:52 -0400

Mon May 20, 2013 6:01pm EDT * US brokerage firm hit with sales and marketing violations * Firm to phase out 1-person oversight of far-flung offices * Firm plans to hire many more compliance staffers By Jed Horowitz, Ashley Lau and Suzanne Barlyn NEW YORK, May 20 (Reuters) - LPL Financial Holdings Inc , a fast-growing broker-dealer that offers services to more than 13,000 independent stockbrokers, ...

U.S. Senators urge swaps watchdog to rein in oil majors

Mon, 20 May 2013 17:47:40 -0400

By Douwe Miedema WASHINGTON, May 20 (Reuters) - Large energy companies look set to slip through the maze of new rules for derivatives trading, a group of U.S. senators said, urging regulators to tighten oversight to cover all the market. As of ...

Rockwood pigments businesses attract private equity bids -sources

Mon, 20 May 2013 17:46:44 -0400

By Michael Erman and Greg Roumeliotis NEW YORK | Mon May 20, 2013 5:46pm EDT NEW YORK May 20 (Reuters) - 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. The auction for the assets, in which Apollo Global ...

UPDATE 1-Cinemark movie theater deal gets U.S. antitrust okay

Mon, 20 May 2013 17:23:43 -0400

Mon May 20, 2013 5:23pm EDT WASHINGTON May 20 (Reuters) - Cinemark Holdings Inc , which owns 467 theaters in the United States and Latin America with more than 5,000 screens, has won U.S. antitrust approval to buy Rave Holdings LLC movie theaters if the companies sell theaters in three states, the Justice Department said on Monday. The department said it filed the settlement in U.S. District ...

The close Wall St. near flat correction worry rises

Mon, 20 May 2013 17:22:41 -0400

U.S. stocks ended little changed on Monday with indexes hovering near record levels as concerns about a correction cut earlier gains that were boosted by acquisition activities.Based on the latest available data, the Dow Jones industrial average declined 19.12 points, or 0.12 per cent, to finish unofficially at 15,335.28. The Standard & Poor's 500 Index slipped 1.18 points, or 0.07 per ...

UPDATE 2-U.S. justices rule for PPL Corp in overseas tax case

Mon, 20 May 2013 17:21:01 -0400

Mon May 20, 2013 5:21pm EDT By Lawrence Hurley WASHINGTON May 20 (Reuters) - The U.S. Supreme Court on Monday ruled for utility PPL Corp in its dispute with the U.S. Internal Revenue Service over credits the company claimed to offset overseas tax payments. The court ruled on a unanimous vote that Pennsylvania-based PPL can claim $39 million in U.S. foreign tax credits against a 1997 British ...

Acadia added to Nasdaq biotech index

Mon, 20 May 2013 17:20:42 -0400

The index tracks performance of selected biotech or pharmaceutical stocks traded on Nasdaq. Acadia trades at a market value of about $1.1 billion, making it one of San Diego's largest biotech companies by that ...

Feds Williams does not comment on economic outlook policy

Mon, 20 May 2013 17:18:42 -0400

Mon May 20, 2013 5:18pm EDT (Reuters) - San Francisco Federal Reserve President John Williams did not comment on the outlook for the U.S. economy or monetary policy in an address on Monday to students graduating from the University of California, Berkeley. Although the U.S. economy is still recovering from its worst downturn since the Great Depression, Williams told graduating economics majors at ...

After Hours Urban Outfitters slips in after-hours trade

Mon, 20 May 2013 17:17:11 -0400

SAN FRANCISCO (MarketWatch) -- Urban Outfitters fell in after-hours trade Monday after its fiscal first-quarter sales came up short of expectations, while TiVo posted a slight gain as its quarterly loss was smaller than ...

WellCare down Tech Data up on Wall Street Video

Mon, 20 May 2013 17:11:48 -0400

May 20 (Bloomberg) -- Bloombergs Trish Regan, Adam Johnson and Matt Miller report on todays ten most important stocks including Activis, Red Hat and Yahoo. (Source: Bloomberg) It was a day of nominal losses and gains on Wall Street Monday. Tech Data (NASDAQ: TECD) had the highest gain with 1.31 percent. WellCare Health Plans (NYSE: WCG) had the largest loss, 1.48 percent. This comes after the ...

UPDATE 1-EU draft bank rescue law would not shield big deposits

Mon, 20 May 2013 17:04:51 -0400

Mon May 20, 2013 5:04pm EDT * EU law to shield small savers in bank rescues * Deposits over 100,000 euro may be affected * Deal establishes national resolution funds * Needs approval of EU finance ministers By Claire Davenport STRASBOURG, France, May 20 (Reuters) - A draft law that a group of European Union lawmakers voted for on Monday would shield small depositors from losing their savings in ...

UPDATE 1-Trade group SIFMA names ex-U.S. Sen. Gregg as CEO

Mon, 20 May 2013 17:03:57 -0400

Mon May 20, 2013 5:03pm EDT * SIFMA is U.S. securities industry's largest trade group * Ex-U.S. Sen. Gregg had been adviser to Goldman Sachs * SIFMA splits up CEO, president roles * Kenneth Bentsen to be full-time president By Jed Horowitz NEW YORK, May 20 (Reuters) - SIFMA, the U.S. securities industry's largest trade group, named former U.S. Senator Judd Gregg as chief executive ...

Brazils stadiums ready for World Cup soccer warm-up in June

Mon, 20 May 2013 17:02:18 -0400

By Anthony Boadle BRASILIA | Mon May 20, 2013 5:02pm EDT BRASILIA May 20 (Reuters) - Brazilian President Dilma Rousseff took a swipe at the naysayers on Monday as she officially inaugurated the last of six stadiums that Brazil will use next month to host a warm-up for the 2014 World Cup soccer tournament. "The pessimists said the stadiums would not be ready in time, but we are ...

UPDATE 1-Apple to argue for tax reform defend tax practices on Tuesday

Mon, 20 May 2013 17:01:37 -0400

Mon May 20, 2013 5:01pm EDT By Poornima Gupta SAN FRANCISCO May 20 (Reuters) - Apple Inc will argue for a comprehensive corporate tax reform that will levy a "reasonable tax" on foreign earnings and is not dependent on a company's revenue when it goes before a Senate panel on Tuesday to explain its offshore tax practices. In prepared testimony released by the company and submitted ...

IMF says Washington cutting budget deficits too quickly

Mon, 20 May 2013 17:00:22 -0400

By Jason Lange WASHINGTON (Reuters) - The International Monetary Fund on Monday said the United States was getting carried away with a government austerity drive, offering some of the institution's bluntest criticism yet of Washington's rush to ...

Apples stateless subsidiaries lower tax bills- Senate report

Mon, 20 May 2013 16:59:56 -0400

By Patrick Temple-West WASHINGTON | Mon May 20, 2013 4:59pm EDT WASHINGTON May 20 (Reuters) - Using an unusual global tax structure, Apple Inc has held billions of dollars in profits in Irish subsidiaries to pay little or no taxes to any government, a U.S. Senate report on the company's offshore tax structure concluded on Monday. In a 40-page memorandum released a day before Apple ...

Auditor balks at public backing of I-4 bonds

Mon, 20 May 2013 16:56:21 -0400

And, she added, tolls are not popular, possibly prompting "public ire [that] would stop at the Orange County Board of County Commissioners long before reaching Tallahassee." Essentially, ...

US STOCKS-Wall St ends flat on correction worries

Mon, 20 May 2013 16:48:28 -0400

Mon May 20, 2013 4:48pm EDT * Yahoo to buy Tumblr for $1.1 bln, vows not to screw up * Dow, S&P 500 briefly hit all-time intraday highs * JA Solar's margin bets pay off, shares surge * Dow off 0.1 pct, S&P off 0.1 pct; Nasdaq off 0.1 pct By Angela Moon NEW YORK, May 20 (Reuters) - U.S. stocks ended little changed on Monday, with indexes hovering near record levels as concerns about a ...

COMMODITIES-Precious metals oil rebound from early dives

Mon, 20 May 2013 16:44:11 -0400

Mon May 20, 2013 4:44pm EDT * Gold shoots up from 1-month low and 7 days of losses * Silver hits Sept 2010 low before rebounding * Oil reverses early losses to end higher * Raw sugar near 3-year low, arabica coffee down for 5th day By Barani Krishnan NEW YORK, May 20 (Reuters) - Precious metals markets jumped on Monday at the end of a roller-coaster session that opened with a gut-wrenching dive ...

US stocks dip in cautious trade

Mon, 20 May 2013 16:30:19 -0400

US stocks have closed slightly lower in thin trade ahead of Federal Reserve Chairman Ben Bernanke's testimony on the economic outlook to Congress. At the closing bell on Monday, the Dow Jones Industrial Average was down 18.35 points (0.12 per cent) at 15,336.05. The tech-rich Nasdaq Composite Index edged down 2.53 (0.07 per cent) to 3496.43 and the broad-market S&P 500 lost 1.21 (0.07 per ...

UPDATE 1-Fed could end bond buys in autumn if jobs outlook sure -Evans

Mon, 20 May 2013 16:28:06 -0400

Mon May 20, 2013 4:28pm EDT By Ann Saphir CHICAGO May 20 (Reuters) - The U.S. Federal Reserve could continue full-speed ahead on its bond-buying program through the summer, but end it abruptly in the autumn if by then it is confident that the improvement in the jobs outlook is here to stay, a top Fed official said on Monday. "We've seen good progress in the labor market outlook," ...

FOREX-U.S. dollar retreats broadly on caution before Bernanke

Mon, 20 May 2013 16:27:19 -0400

Mon May 20, 2013 4:27pm EDT * Japan minister suggests yen has weakened enough * BOJ meeting, Bernanke's congressional testimony in focus * Dollar retreats from near three-year peak vs basket of currencies By Wanfeng Zhou NEW YORK, May 20 (Reuters) - The dollar fell against the euro and yen on Monday as traders pared back expectations Federal Reserve Chairman Ben Bernanke would hint at ...

Currencies Dollar falls as Fed’s Evans calls for more time

Mon, 20 May 2013 16:13:35 -0400

NEW YORK (MarketWatch) -- The dollar fell on Monday, but still traded at nearly five-year highs against the Japanese yen, as a Federal Reserve president said more time is needed to assess labor-market ...

Higher video recorder sales boost TiVo revenue

Mon, 20 May 2013 16:11:42 -0400

Mon May 20, 2013 4:11pm EDT May 20 (Reuters) - TiVo Inc posted higher quarterly revenue as subscriptions rose and the company sold more of its trademark digital video recorders. Net loss narrowed to $10.3 million, or 9 cents per share, in the first quarter, from $20.8 million, or 17 cents per share, a year earlier. Revenue rose about 22 percent to $82.6 ...

Urban Outfitters profit jumps 39 percent

Mon, 20 May 2013 16:08:42 -0400

Mon May 20, 2013 4:08pm EDT May 20 (Reuters) - Teen apparel retailer Urban Outfitters Inc reported a 39 percent jump in quarterly profit as more people shopped at its namesake and Free People stores. Net income rose to $47.1 million, or 32 cents per share, in the quarter ended April 30, from $33.9 million or 23 cents per share, a year ago. Comparable-store sales at its Free people stores rose 44 ...

Business aviation CEOs see recovery signs urge governments aid

Mon, 20 May 2013 16:06:29 -0400

Mon May 20, 2013 4:06pm EDT * Taxes, red tape seen hindering industry * Appeal to government for help before annual show opens * Sector seeks to rebuild after recession-sparked decline By Robert Evans GENEVA, May 20 (Reuters) - Leaders of the multibillion-dollar global business aviation industry see signs of recovery from four years of recession, they said on Monday, but they appealed to ...

UPDATE 5-Plains shareholders approve Freeport bid after sweeteners

Mon, 20 May 2013 16:03:47 -0400

Mon May 20, 2013 4:03pm EDT By Michael Erman NEW YORK May 20 (Reuters) - Freeport-McMoRan Copper and Gold Inc took a big step on Monday in its plan to expand into energy, when Plains Exploration and Production Co shareholders approved the miner's $6 billion takeover deal, sweetened by two special dividends. The world's largest listed copper producer's bid to buy Plains, unveiled in ...

BRIEF-Urban Outfitters down in extended trading

Mon, 20 May 2013 16:03:19 -0400

NEW YORK | Mon May 20, 2013 4:03pm EDT NEW YORK May 20 (Reuters) - Urban Outfitters Inc : * Shares down 2.2 percent in extended trading after ...

BRIEF-TiVo up in extended trading after results

Mon, 20 May 2013 16:02:22 -0400

NEW YORK | Mon May 20, 2013 4:02pm EDT NEW YORK May 20 (Reuters) - TiVo Inc : * Shares up 1.8 percent in extended trading after ...

UPDATE 1-Citi names new heads of mortgages private bank Citi Holdings

Mon, 20 May 2013 16:01:28 -0400

Mon May 20, 2013 4:01pm EDT NEW YORK May 20 (Reuters) - Citigroup Inc Chief Executive Michael Corbat named Jane Fraser as the new head of the bank's mortgage business on Monday ,as current CitiMortgage CEO Sanjiv Das plans to leave the bank to pursue other opportunities, according to an internal memo. Das took over Citigroup's mortgage business at the height of the financial crisis in ...

Deals of the day -- mergers and acquisitions

Mon, 20 May 2013 16:00:00 -0400

Mon May 20, 2013 4:00pm EDT May 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday: ** Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand. ** Tom Wheeler, nominated to become the new ...

UPDATE 3-U.S. natgas futures end up for 2nd day forecasts turn warmer

Mon, 20 May 2013 15:57:09 -0400

* Warmer trend this week lifts prospects for demand * Front-month futures end up for second day By Joe Silha NEW YORK, May 20 (Reuters) - U.S. natural gas futures ended higher for a second straight session on Monday as warmer weather stretching from Texas to the Northeast this week should boost demand by forcing homeowners and businesses to crank up their air conditioners. Prices have bounced ...

REUTERS SUMMIT-Peru central bank may trim GDP view sees US optimism

Mon, 20 May 2013 15:56:11 -0400

LIMA May 20 (Reuters) - A weaker global economy and lower metals prices may lead Peru's central bank to trim its forecast for 2013 economic growth to as little as 5.9 percent from 6.3 percent, Central Bank President Julio Velarde said on ...

WASIK COLUMN-Two ways to pick your summer stock retreat

Mon, 20 May 2013 15:55:50 -0400

Mon May 20, 2013 3:55pm EDT By John Wasik CHICAGO May 20 (Reuters) - It used to be easy to abide by the old Wall Street nugget that you should pull out of the market in spring and come back in the fall. But research shows that it doesn't make sense to completely abandon the stock market during the summer months, particularly when it comes to individual sectors. Not all of them will ...

Bayer says lung drug shows promise in prolonged trial

Mon, 20 May 2013 15:52:55 -0400

FRANKFURT (Reuters) - Bayer said extended use of its experimental riociguat pill to treat a life-threatening form of high blood pressure in the lungs was shown to be safe and effective in a prolonged ...

Brazil probes rumor that set off panic run on state bank

Mon, 20 May 2013 15:52:54 -0400

BRASILIA (Reuters) - Brazilian President Dilma Rousseff said on Monday she ordered the Federal Police to investigate the source of a rumor that sent thousands of poor Brazilians running to state bank branches seeking payment of a monthly family ...

Wall Street near record levels trading choppy

Mon, 20 May 2013 15:48:15 -0400

economy to reach "escape velocity" next year. Earlier, the Dow climbed to an all-time intraday high at 15,391.84, while the S&P 500 edged up to a new intraday record high at 1,672.84. Both major indexes are up about 17 per cent for the year so far. The S&P 500 is up more than 1,000 points from March 2009 lows. Analysts say various benchmarks are battling key levels, which could ...

Wall St hesitancy after new records

Mon, 20 May 2013 15:44:05 -0400

Wall Street touched fresh records earlier in the day before giving up gains as investors await clues from the US Federal Reserve on its plans for maintaining stimulus measures. The minutes from the latest Fed's policy committee meeting are due on Wednesday, the same day that Fed Chairman Ben Bernanke will be giving testimony to Congress. In late afternoon trading in New York, the ...

UK delays award of prison privatisation contract - FT

Mon, 20 May 2013 15:38:53 -0400

Ministry of Justice following an investigation into whether it was overcharged on two contracts with private-sector companies, the Financial Times reported. The winning bidders for the privatisation of HMP Northumberland and South Yorkshire, which together total five prisons, had expected to be told this week, the paper said. The decision has been delayed partly because the personnel involved ...

UPDATE 1-NBC News looks to Britain for its new president

Mon, 20 May 2013 15:24:06 -0400

Mon May 20, 2013 3:24pm EDT By Liana B. Baker May 20 (Reuters) - Deborah Turness, a former top TV news editor in Britain, will take over as NBC News president in August, at a time when it is looking to turn around the fortunes of its news division. Turness will replace Steve Capus, who left the network in February. She will report to Patricia Fili-Krushel, chairman of NBCUniversal News Group, who ...

Argentina unemployment rate rises to 7.9 pct in 1st quarter

Mon, 20 May 2013 15:09:32 -0400

BUENOS AIRES | Mon May 20, 2013 3:09pm EDT BUENOS AIRES May 20 (Reuters) - Argentina's unemployment rate rose to 7.9 percent in the first quarter compared with 7.1 percent a year ago, marking the highest reading in nearly three years, the national statistics institute said on Monday. The jobless rate was reported at 6.9 percent in the fourth quarter of 2012. Argentina's economy, ...

TREASURIES-Prices slip in choppy trading as investors await Fed

Mon, 20 May 2013 15:08:08 -0400

Mon May 20, 2013 3:08pm EDT * Prices fall in choppy trading, stocks ease from record * Speculation over reduced Fed's bond purchases cap bids * Traders await clues on QE3's future from Bernanke * U.S. Fed buys $1.45 billion in long-dated Treasuries By Richard Leong NEW YORK, May 20 (Reuters) - U.S. government debt prices fell on Monday in choppy trading with benchmark yields hovering near ...

US dollar eases in Asia trade but expected to resume rise

Mon, 20 May 2013 15:03:03 -0400

TOKYO--The dollar eased in Asia on Monday after a Japanese minister said the recent correction against the yen was nearly over, but analysts said the greenback would soon resume its ...

SP 500 Nasdaq touch new session lows

Mon, 20 May 2013 14:47:07 -0400

NASDAQ traded symbols and their current financial status. Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is at least 60-minutes delayed. All quotes are in local exchange ...

Fitch Affirms Floridas GO Bonds at AAA

Mon, 20 May 2013 14:45:14 -0400

Slow Progress on GAAP and IFRS Convergence; Optionality for Impairments Increases Significant differences will remain between the GAAP and IFRS accounting standards in 2013, although cooperation and progress continues on some remaining joint projects, according to Fitch Ratings. The pipeline of new standards promises increasing commonality between the two platforms over coming years. Progress ...

Softbank planning 400 bln yen bond sale - Nikkei

Mon, 20 May 2013 14:41:57 -0400

Mon May 20, 2013 2:41pm EDT May 21 (Reuters) - Softbank Corp is seeking to raise about 400 billion yen ($3.90 billion) through a sale of retail bonds to finance its bid for No.3 U.S. mobile phone carrier Sprint Nextel Corp, the Nikkei reported. The proceeds from the offering, which is expected to be launched as early as next month, will also be used for redeeming existing bonds, the newspaper ...

Mexicos peso firms sharply after Fed official comments

Mon, 20 May 2013 14:41:07 -0400

MEXICO CITY | Mon May 20, 2013 2:41pm EDT MEXICO CITY May 20 (Reuters) - Mexico's peso firmed sharply on Monday, bouncing back from a more than three-week low, after a U.S. central bank official suggested the Federal Reserve has the appropriate level of monetary accommodation in place. The peso firmed 0.55 percent to 12.2749 per dollar. Investors were eyeing comments from Chicago ...

US STOCKS-Wall St hovers near record levels as investors hesitate to jump in

Mon, 20 May 2013 14:18:09 -0400

Mon May 20, 2013 2:18pm EDT * U.S. Fed has right monetary accommodation in place: Fed's Evans * Dow, S&P briefly hits new session highs * Yahoo's board approves $1.1 bln Tumblr acquisition * Indexes: Dow off 0.2 pct, S&P off 0.2 pct, Nasdaq 0.3 pct By Angela Moon NEW YORK, May 20 (Reuters) - U.S. stocks slipped by afternoon trade on Monday as indexes struggled to break above their record ...

Plains shareholders approve takeover by Freeport

Mon, 20 May 2013 14:15:42 -0400

Mon May 20, 2013 2:15pm EDT May 20 (Reuters) - Plains Exploration and Production Co shareholders approved the oil company's takeover by mining company Freeport-McMoRan Copper and Gold Inc, after both companies sweetened the more than $6 billion deal with two special dividends. The companies said on Monday that a majority of Plains outstanding shares were voted in favor of the deal. They expect ...

UPDATE 4-Actavis to buy Warner Chilcott in $5 billion stock deal

Mon, 20 May 2013 14:15:26 -0400

Mon May 20, 2013 2:15pm EDT * Deal to increase 2014 earnings per share by 30 percent * Deal to boost branded drug business * Incorporation in Ireland to cut taxes * Shares of both Actavis and Warner Chilcott rise By Caroline Humer and Ransdell Pierson May 20 (Reuters) - Generic drugmaker Actavis Inc, itself a recent takeover target, said on Monday it would buy specialty pharmaceutical company ...

GM gearing up for big ad push for crucial new pickups -executive

Mon, 20 May 2013 14:14:34 -0400

By Ben Klayman DETROIT | Mon May 20, 2013 2:14pm EDT DETROIT May 20 (Reuters) - The launch of General Motors Co's redesigned Chevrolet Silverado, the most important since the automaker's bankruptcy and $50 billion taxpayer-funded bailout in 2009, is on track and advertising for its full-size trucks should begin in a few weeks, a top GM executive said on Monday. Mark Reuss, head ...

Caterpillar machinery sales down 9 pct in April led by Asia

Mon, 20 May 2013 14:10:53 -0400

CHICAGO | Mon May 20, 2013 2:10pm EDT CHICAGO May 20 (Reuters) - Caterpillar Inc said on Monday that retail demand for its construction and mining equipment continued to be sluggish in April, though the sales picture appeared to be improving in almost every market outside North America. The Peoria, Illinois-based company said worldwide dealer sales of its earth-moving machines fell 9 ...

Feds Evans says may need to tinker with eventual exit policy

Mon, 20 May 2013 14:08:03 -0400

By Ann Saphir CHICAGO | Mon May 20, 2013 2:08pm EDT CHICAGO May 20 (Reuters) - The Federal Reserve, whose current bond-buying program will at its current rate swell the U.S. central bank's balance sheet to $4 trillion by year-end, may end up holding assets until they mature instead of selling them, a top Fed official said on Monday. The Fed two years ago laid out an exit plan that ...

UPDATE 2-Blackstone Pactera insiders make $680 mln offer

Mon, 20 May 2013 14:02:49 -0400

Mon May 20, 2013 2:02pm EDT * Consortium proposes to take company private for $7.50 per share * Pactera expects to form special committee to assess offer * Pactera shares up 30 percent By Greg Roumeliotis May 20 (Reuters) - Pactera Technology International Ltd said on Monday that Blackstone Group LP, together with the company's management, made a $680.3 million non-binding proposal to take ...

Britains Cameron tells Google and others to play fair on tax

Mon, 20 May 2013 14:02:37 -0400

LONDON | Mon May 20, 2013 2:02pm EDT LONDON May 20 (Reuters) - British Prime Minister David Cameron on Monday told Google's Executive Chairman Eric Schmidt and other business leaders that he expected their companies to pay their taxes in exchange for benefiting from low tax rates. Cameron's intervention came days after British lawmakers accused Google of using "smoke and ...

The Federal Reserve Ignores Its Own Role in the Financial Crisis

Mon, 20 May 2013 14:01:04 -0400

Since the financial meltdown in 2008, the Federal Reserve's range of powers have expanded, as have the kinds of financial institutions it monitors and regulates. Fed Chairman Ben Bernanke is now saying that the Fed's oversight has expanded beyond strictly financial institutions to wide swaths of the economy that might, in his words, provide evidence of "emerging ...

Online takeout companies GrubHub and Seamless to merge

Mon, 20 May 2013 14:00:15 -0400

By Sarah McBrideSAN FRANCISCO (Reuters) - Two of the nation's biggest online food delivery businesses said they are merging in a deal that they hope will drive more orders, in more cities, through their platforms.GrubHub and Seamless, which allow consumers to easily order online from various restaurants, are part of a group of fast-growing businesses that standardize local services under a ...

Mexican stocks sink 2 pct trading at 6-month low

Mon, 20 May 2013 13:54:47 -0400

MEXICO CITY | Mon May 20, 2013 1:54pm EDT MEXICO CITY May 20 (Reuters) - Mexican stocks slumped on Monday to a six month low, hit by concerns that local stocks were too expensive after weaker than expected growth data on Friday dampened the economic outlook for 2013. The IPC stock index sank more than 2 percent to 40,934 points, a low not seen since November ...

Energy Stocks Energy stocks rally top gainer among SP sectors

Mon, 20 May 2013 13:53:09 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks rose on Monday, the top gainer in the S&P 500 Index, standing head and shoulders above other sectors and up 4.3% on the ...

UPDATE 2-Royalty ups Elan bid and issues shareholder ultimatum

Mon, 20 May 2013 13:49:45 -0400

Mon May 20, 2013 1:49pm EDT * Royalty increases bid from $11.25 per share previously * Says will withdraw bid if shareholders back Elan deals * Reserves right to cut acceptance threshold to 50 pct DUBLIN, May 20 (Reuters) - Royalty Pharma raised its hostile bid for Elan to $12.50 per share and heaped pressure on shareholders, saying it will withdraw the bid if they approve a series of defensive ...

SP revises Lambert-St. Louis Airport outlook to stable

Mon, 20 May 2013 13:49:44 -0400

Mon May 20, 2013 1:49pm EDT May 20 (Reuters) - Standard and Poor's Ratings Services on Monday revised its outlook on Lambert-St. Louis International Airport's bonds to stable from negative, citing improved passenger trends and adequate debt obligation coverage. S&P also affirmed its A-minus rating, and assigned an A-minus rating to the city's upcoming sale of series 2013 airport revenue ...

RPT-Fed has right monetary accommodation in place Evans says

Mon, 20 May 2013 13:47:16 -0400

Mon May 20, 2013 1:47pm EDT (Repeats with no change to text, to attach item to corrected alerts.) CHICAGO May 20 (Reuters) - The U.S. Federal Reserve has the appropriate level of monetary accommodation in place, allowing the economy to reach "escape velocity" next year, a top Fed official said on Monday. "We continue to face powerful headwinds in the fiscal situation and the global ...

Ryanair propels European shares to five-year highs

Mon, 20 May 2013 13:39:42 -0400

news ) outperforms, IBEX lags on technical signals * Miners drag as metal prices weaken By Alistair Smout LONDON, May 20 (Reuters) - European shares reached new five-year peaks on Monday, supported by strength in the autos and travel sector, where budget airline Ryanair's stock hit a record high on the back of strong earnings. Travel and leisure stocks gained 1.1 percent, led by a ...

REFILE-First flight nears A350 could make Paris show flypast

Mon, 20 May 2013 13:38:52 -0400

Mon May 20, 2013 1:38pm EDT * Airbus could show off new jet from the air * Paris air show flypast depends on maiden flight * Past launches suggest plane could fly by mid-June * Cruise performance tests key in battle for sales By Tim Hepher PARIS, May 20 (Reuters) - Airbus could steal the Paris air show with a flypast of its newest passenger jet, the A350, as confidence grows over a maiden flight ...

ADR REPORT-ADRs move higher on dollar slip miners rise

Mon, 20 May 2013 13:37:46 -0400

By Chuck Mikolajczak NEW YORK | Mon May 20, 2013 1:37pm EDT NEW YORK May 20 (Reuters) - U.S.-listed shares of foreign companies advanced on Monday, buoyed by dollar weakness, while Canadian miners got a lift as gold prices halted their recent decline. The greenback fell 0.4 percent against a basket of major currencies after Japan's economy minister suggested the currency might have ...

UPDATE 5-Yahoo buying Tumblr for $1.1 bln vows not to screw it up

Mon, 20 May 2013 13:36:17 -0400

Mon May 20, 2013 1:36pm EDT * Yahoo gets a platform in social media * Analysts say price looks high * Yahoo shares up 1 pct * Tumblr's young founder now a multimillionaire By Alexei Oreskovic and Jennifer Saba SAN FRANCISCO/NEW YORK, May 20 (Reuters) - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a ...

U.S. pesticide makers seek answers as bee losses sting agriculture

Mon, 20 May 2013 13:35:43 -0400

(Reuters) - Monsanto Co is hosting a "Bee Summit." Bayer AG is breaking ground on a "Bee Care Center." And Sygenta AG is funding grants for research into the accelerating demise of honeybees in the United States, where the insects pollinate fruits and vegetables that make up roughly a quarter of the American ...

UPDATE 3-Chile economic growth cools slowest in year-and-a-half

Mon, 20 May 2013 13:29:12 -0400

* Chile first quarter GDP growth up 4.1 pct vs year earlier * Some eye interest rate cut as robust economy slows * Central bank has held key rate at 5 pct since January 2012 SANTIAGO, May 20 (Reuters) - Chile's economic growth eased in the first quarter to 4.1 percent compared with a year earlier, its slowest pace of expansion since late 2011, the central bank said on Monday, leading some in ...

Wall Street inches up as deals provide support for rally

Mon, 20 May 2013 13:27:26 -0400

US stocks rose slightly as acquisition activity gave support, but investors were hesitant to rush into the market with indexes hovering around record ...

Star Wars to bring Rebels to new animated Disney TV series

Mon, 20 May 2013 13:23:34 -0400

LOS ANGELES | Mon May 20, 2013 1:23pm EDT LOS ANGELES May 20 (Reuters) - Disney said on Monday it will produce a new "Star Wars" animated series to air on television in the fall 2014, giving fans of the science-fiction franchise fresh stories before the next live-action film hits theaters in 2015. "Star Wars Rebels," based on George Lucas' multibillion dollar film ...

REFILE-U.S. homeland security notice weighs on OSI Systems new contracts

Mon, 20 May 2013 13:10:52 -0400

Mon May 20, 2013 1:10pm EDT May 20 (Reuters) - OSI Systems Inc said the U.S. Department of Homeland Security has issued it a "proposed debarment notice" related to privacy concerns over its full-body passenger scanners used in airports, limiting the company's ability to sign new federal government contracts until the issue is resolved. OSI Systems shares fell as much as 17 percent on ...

UPDATE 1-Spains El Corte Ingles in 5 bln euro debt restructuring

Mon, 20 May 2013 13:04:27 -0400

Mon May 20, 2013 1:04pm EDT By Carlos Ruano MADRID May 20 (Reuters) - Spanish department store El Corte Ingles, the country's largest privately held company, said on Monday it had started talks to restructure debt totalling 5 billion euros ($6.43 billion). El Corte Ingles, one of Spain's largest employers and most venerable retailers, has been hit by a tough economic downturn and been ...

Morgan Stanley sued in pay-to-play retirement plan case

Mon, 20 May 2013 13:01:04 -0400

Mon May 20, 2013 1:01pm EDT * Bank accused of steering 401(k) business to win extra fees * Morgan Stanley declines comment; ING denies wrongdoing May 20 (Reuters) - Morgan Stanley has been sued by an Alabama medical laboratory that claims it steered retirement plan business to ING U.S. Inc and others in exchange for extra fees in an illegal "pay-to-play" scheme. Skin Pathology Associates ...

Euro extends gains versus dollar hits session high

Mon, 20 May 2013 12:58:23 -0400

NEW YORK | Mon May 20, 2013 12:58pm EDT NEW YORK May 20 (Reuters) - The euro extended its gains versus the dollar to hit a session high in early afternoon trade on Monday, helped by broad-based weakness in the U.S. currency. The euro rose as high as $1.2879, according to Reuters data, and was last at $1.2875, up 0.3 percent on the ...

GLOBAL MARKETS-Shares grind higher yen rebounds on ministers remarks

Mon, 20 May 2013 12:55:28 -0400

* Global equity markets continue to climb * Yen gains on minister's comments, rise seen temporary * Gold gains after longest losing streak in four years * Oil rebounds, rises above $105 a barrel (Updates prices, adds close of European stocks) By Herbert Lash NEW YORK, May 20 (Reuters) - Global equity markets resumed this year's rally on Monday, driven higher by a flurry of merger and ...

TREASURIES-U.S. bond prices slip as stocks claw higher

Mon, 20 May 2013 12:53:19 -0400

Mon May 20, 2013 12:53pm EDT * Bond market recovery fizzles as Wall Street stocks turn up * Speculation over reduced Fed's bond purchases cap bids * Traders await clues on QE3's future from Bernanke * U.S. Fed buys $1.45 billion in long-dated Treasuries By Richard Leong NEW YORK, May 20 (Reuters) - U.S. government debt prices slipped on Monday, with benchmark yields hovering near ...

Oil rises on higher US stocks falling dollar

Mon, 20 May 2013 12:51:08 -0400

Oil moved higher as U.S. stock markets reversed early losses. At midday, the Dow Jones industrial average showed a gain of 19.82, or 0.1 ...

UPDATE 1-Slovenia to start privatisations in September -minister

Mon, 20 May 2013 12:44:36 -0400

Mon May 20, 2013 12:44pm EDT * Slovenia to sell 15 state firms to cut bailout risk * Coalition tensions over privatisation drive By Marja Novak LJUBLJANA, May 20 (Reuters) - Slovenia will launch a privatisation programme in September, Finance Minister Uros Cufer said on Monday, signalling further fundraising efforts to avert an international bailout. Slovenia earlier this month listed 15 ...

Wall Street trade group taps ex-senator Gregg as CEO

Mon, 20 May 2013 12:36:21 -0400

The top trade and lobbying group for the securities industry on Monday snagged two ex-members of Congress for high-level jobs. Former senator Judd Gregg, a New Hampshire Republican, is the new CEO of ...

Fitch Upgrades Greek Covered Bonds After Banks and Sovereign Upgrade

Mon, 20 May 2013 12:31:00 -0400

Mon May 20, 2013 12:31pm EDT (The following statement was released by the rating agency) LONDON, May 20 (Fitch) Fitch Ratings has upgraded National Bank of Greece's (NBG, 'B-'/Stable/'B'), Piraeus Bank's (Piraeus, 'B-'/Stable/'B'), Alpha Bank's (Alpha, 'B-'/Stable/'B') and Eurobank Ergasias' (Eurobank, ...

Biggest traders helping EU oil probe not in it -sources

Mon, 20 May 2013 12:14:56 -0400

LONDON | Mon May 20, 2013 12:14pm EDT LONDON May 20 (Reuters) - European investigators have asked top trading houses Glencore, Vitol and Gunvor to help with a probe into oil price manipulation, while not suggesting they are under investigation, industry sources said on Monday. Last week, European Commission authorities raided the London bureau of pricing agency Platts and the offices of ...

Royalty Pharma ups offer for Elan to $12.50shr

Mon, 20 May 2013 12:06:00 -0400

LONDON | Mon May 20, 2013 12:06pm EDT LONDON May 20 (Reuters) - U.S. investor Royalty Pharma raised its offer to $12.50 per share for Irish drugmaker Elan on Monday, representing a premium of 45 percent to Elan's enterprise value, it said. The company said it was offering $4.6 billion for Elan's Tysabri Royalty, a 42 percent premium to the $3.25 billion price at which Elan sold ...

UPDATE 3-FDA staff says Mercks sleep drug effective questions dosage

Mon, 20 May 2013 12:03:40 -0400

* Reviewers say lower doses of suvorexant safer than high * Cite risk of next-day sedation, suicidal thinking * Merck shares fall 1 percent in midday trading By Toni Clarke WASHINGTON, May 20 (Reuters) - Merck and Co's experimental insomnia drug suvorexant appears generally effective, according to reviewers at the U.S. Food and Drug Administration, but they questioned the company's ...

U.S. justices endorse FCC authority in cellphone tower case

Mon, 20 May 2013 11:57:06 -0400

By Lawrence Hurley WASHINGTON | Mon May 20, 2013 11:57am EDT WASHINGTON May 20 (Reuters) - The U.S. Supreme Court on Monday ruled that the U.S. Federal Communications Commission has authority to try to speed up the process for installing wireless communications towers when local governments have been slow to act. The case hinged on a federal law requiring state and local governments to ...

EURO GOVT-Positive U.S. data weighs on safe-haven Bunds

Mon, 20 May 2013 11:47:25 -0400

Mon May 20, 2013 11:47am EDT * Upbeat U.S. consumer data sours appetite for safe-haven debt * U.S./German 10-year yield spread around 3-year highs * Bernanke speech on Wednesday keenly awaited By Marius Zaharia and Emelia Sithole-Matarise LONDON, May 20 (Reuters) - Low-risk German Bunds fell on Monday in the wake of upbeat U.S. data last week that eased concern about growth in the world's ...

FOREX-Yen higher after Japanese minister discourages further drop

Mon, 20 May 2013 11:43:08 -0400

Mon May 20, 2013 11:43am EDT * Japanese minister suggests yen has weakened enough * BOJ meeting, Bernanke's congressional testimony in focus NEW YORK May 20 (Reuters) - The yen climbed back from a 4-1/2-year low against the dollar on Monday after Japan's economy minister suggested the currency might have weakened enough. The economy minister, Akira Amari, said the yen's excessive ...

Financial Stocks Bank of America leads financials higher

Mon, 20 May 2013 11:42:24 -0400

NEW YORK (MarketWatch) - Financial stocks were up in early trades on Monday, continuing their winning streak ahead of Fed Chief Ben Bernanke's testimony to Congress on ...

Tech Stocks Yahoo shares edge up after Tumblr deal

Mon, 20 May 2013 11:42:23 -0400

SAN FRANCISCO (MarketWatch) -- Yahoo Inc.'s $1.1 billion acquisition of blogging-service operator Tumblr claimed the tech sector's spotlight on Monday, with the deal seen as a potential gamble by Chief Executive Marissa Mayer in her attempts to reinvigorate the one-time Internet ...

Mexicos Urbi defaults on interest payment

Mon, 20 May 2013 11:41:10 -0400

MEXICO CITY | Mon May 20, 2013 11:41am EDT MEXICO CITY May 20 (Reuters) - Mexico's third-largest homebuilder, Urbi Desarrollos, on Monday said it will not meet a $6.4 million interest payment due since last month. The company had previously sought a 30-day grace period to make the payment on its 2016 bonds, but that expired on May 19. Urbi, which is already facing lawsuits for missed ...

Wall St dips but deals lend support

Mon, 20 May 2013 11:40:53 -0400

Deals including Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions despite record highs, a bullish sign for ...

Local stocks extend run-up following Wall Street rally

Mon, 20 May 2013 11:39:19 -0400

Stock markets in Shanghai and Shenzhen carried their recent winning-streak into Monday as Wall Street's rising tide buoyed most A-shares.The benchmark Shanghai Composite Index added 0.75 percent, or 17.12 points, to close at 2,299.99; while the Shenzhen Component Index added 0.66 percent, or 60.87 points, to finish at 9,307.15.The gains came after upbeat US economic data lifted the Dow Jones ...

Ex-divs to take 7.4 points off FTSE 100 on May 22

Mon, 20 May 2013 11:39:16 -0400

LONDON, May 20 (Reuters) - The following FTSE 100 companies will go ex-dividend on Wednesday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, the effect of the resulting adjustment to prices by market-makers would take 7.38 points off the ...

The Too Big To Fail Federal Reserve Bank At 100 Years Of Age

Mon, 20 May 2013 11:38:58 -0400

Federal Reserve Chairmen Ben Bernanke As the markets reach new highs, and scandal dominates the nation's capitol, I am compelled to examine the still unresolved challenges about whether our 100 year old central bank- the Federal Reserve- will be capable of warding off another potential systemic financial crisis like the one that almost toppled the economy in 2008. And secondarily, whether ...

Ryanair DAX gains help European shares edge higher

Mon, 20 May 2013 11:33:04 -0400

LONDON | Mon May 20, 2013 11:33am EDT LONDON May 20 (Reuters) - European shares edged to fresh five-year highs on Monday, boosted by strength in German stocks and a travel sector lifted by a surge in Ryanair. Travel and leisure stocks gained 1.1 percent, led by a 6.9 percent jump in Ryanair after it reported expectation-beating earnings for the past year, lifting its shares to a record ...

Stocks open mixed as investors eye Federal Reserve

Mon, 20 May 2013 11:31:24 -0400

CNBC's Jim Cramer explains why Yahoo is "desperate' to become part of the technical "firmament." Stocks were narrowly mixed Monday, as investors seemed to take a breather after major averages finished higher for the fourth-consecutive week and amid ongoing concerns ...

FUND SCREEN-When JP Morgan shares move these funds feel it

Mon, 20 May 2013 11:29:48 -0400

By David Randall NEW YORK, May 20 (Reuters) - JP Morgan Chase and Co shareholders will decide Tuesday whether Jamie Dimon should be both chairman and chief executive, and investors in funds with large stakes in the bank have a lot riding on the outcome. Supporters of the motion to strip Dimon of the chairmanship say it would improve management oversight and reduce the chances of debacles such as ...

Former Nokia software team unveils its first smartphone

Mon, 20 May 2013 11:28:50 -0400

HELSINKI | Mon May 20, 2013 11:28am EDT HELSINKI May 20 (Reuters) - A group of ex-Nokia software developers unveiled its first smartphone on Monday, aiming to prove their former employer wrong by making a success of a technology dropped by the Finnish mobile phone maker. Jolla was founded by Nokia's former MeeGo software team that was shut down after the company decided to switch to ...

US stocks edge lower

Mon, 20 May 2013 11:23:57 -0400

US stocks have edged lower in opening trade amid a flurry of merger and acquisition news, including the Yahoo! takeover of blogging platform ...

Alliance Pipeline says Fairmount N. Dakota natgas compressor shut

Mon, 20 May 2013 11:18:03 -0400

NEW YORK | Mon May 20, 2013 11:18am EDT NEW YORK May 20 (Reuters) - Alliance Pipeline LP said its Fairmount compression station in North Dakota experienced unforeseen mechanical difficulties and was off-line on Monday. The company said in a website posting late Sunday that it was working to correct the situation but it was not known when the unit would return to service. Some throughput ...

TREASURIES-U.S. 10-year note prices erase earlier gains

Mon, 20 May 2013 11:15:55 -0400

NEW YORK | Mon May 20, 2013 11:15am EDT NEW YORK May 20 (Reuters) - Prices on benchmark 10-year U.S. Treasuries notes turned flat on Monday, erasing earlier gains as Wall Street stocks edged into positive territory, recovering from their lower open and reducing safe-haven bids for bonds. Benchmark 10-year Treasuries notes last traded 1/32 lower in price at 98-4/32 with a yield of 1.958 ...

US STOCKS-Wall St little changed deals provide support

Mon, 20 May 2013 11:07:36 -0400

Mon May 20, 2013 11:07am EDT * Yahoo's board approves $1.1 bln Tumblr acquisition * Plains Exploration stocks up as Freeport sweetens deal * Actavis to acquire Warner Chilcott in stock-for-stock deal * Dow off 0.04 pct, S&P up 0.01 pct, Nasdaq up 0.01 pct By Leah Schnurr NEW YORK, May 20 (Reuters) - U.S. stocks were little changed on Monday as acquisition activity gave support but investors ...

U.S. municipal bond market indicators

Mon, 20 May 2013 11:04:28 -0400

DAILY INDICATORS LATEST PREVIOUS LAST ...

BRIEF-Citigroup says Fraser to head CitiMortgage

Mon, 20 May 2013 10:59:02 -0400

Mon May 20, 2013 10:59am EDT May 20 (Reuters) - Citigroup Inc : * CEO Corbat says Jane Fraser, CEO of private bank, to become CEO of CitiMortgage-memo * CEO Corbat says Francesco Vanni D'archirafi, former head of transaction services business, will become the new CEO of Citi ...

UPDATE 2-Goldman exits Chinas ICBC 7 years and billions later

Mon, 20 May 2013 10:57:03 -0400

Mon May 20, 2013 10:57am EDT By Fiona Lau and Elzio Barreto HONG KONG May 20 (Reuters) - Goldman Sachs Group Inc launched the sale of about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China on Monday, offering its entire remaining stake in the world's biggest bank by market value. The sale would be the final chapter in Goldman's investment ...

UPDATE 1-GE Capital plans to pay $6.5 bln in dividends to GE

Mon, 20 May 2013 10:46:30 -0400

Mon May 20, 2013 10:46am EDT * Dividend payment part of plan to reduce GE Capital's size * Payments planned at 30 pct of GE Capital's 2013 profit May 20 (Reuters) - General Electric Co said its financial unit GE Capital Corp would pay $6.5 billion in dividends to the parent in 2013 as part of a plan to reduce the unit's size. "This announcement is consistent with our goal to ...

Pepsi to march in as foreign troops leave Afghanistan

Mon, 20 May 2013 10:45:57 -0400

will open its first plant in Afghanistan in 2014, its Afghan partner said on Monday, the same year foreign troops complete their withdrawal from the country after 13 years of war."It will go on stream in 2014," Hamed Kakar, head of marketing for Dubai-based Alokozay, which has an exclusive bottling agreement with PepsiCo in Afghanistan, told Reuters.As the NATO-led war winds down, ...

AstraZeneca closes in on site for new home in Cambridge

Mon, 20 May 2013 10:45:46 -0400

is closing in on a site for its new $500 million home in Cambridge, with a biomedical park just south of the English city the most likely site, property industry sources said.Moving research and global headquarters to Cambridge, with minimal disruption, is a key test for new Chief Executive Pascal Soriot as he tries to change the drugmaker's culture and puts ground-breaking science at the ...

MOVES-Citigroup JP Morgan Private Bank RBS Barclays

Mon, 20 May 2013 10:45:35 -0400

Mon May 20, 2013 3:49pm EDT May 20 (Reuters) - The following financial services industry appointments were announced on Monday. To inform us of other job changes, email to moves@thomsonreuters.com. CITIGROUP INC The company named Jane Fraser as the new head of the bank's mortgage business on Monday as current CitiMortgage CEO Sanjiv Das plans to leave the bank to pursue other opportunities, ...

EMERGING MARKETS-Brazil stocks sink following weak earnings

Mon, 20 May 2013 10:42:06 -0400

* Brazilian companies posted avg 12.3 pct drop in Q1 income * Expiration of share options leaves Bovespa volatile * Brazil Bovespa falls 0.76 pct, Mexico IPC down 0.38 pct By Danielle Assalve SAO PAULO, May 20 (Reuters) - Brazilian stocks dropped on Monday as investors reevaluated their positions in local shares following a disappointing first-quarter earnings season. Mexico's IPC index ...