Business

Asia stocks rise on brightening U.S. economic prospects

(Reuters) – Asian stocks basked in the glow of a record close on Wall Street after bright U.S. jobs data pointed to improving economic momentum, while the dollar gained on Monday on rising U.S. Treasury yields. U.S. jobs data on Friday showed that nonfarm payrolls increased by 217,000 last month, bringing employment back to its pre-recession level and validating the view that labor conditions are improving. The unemployment rate held steady at a 5-1/2 year […]

New bugs found in software that caused ‘Heartbleed’ cyber threat

(Reuters) – Security researchers have uncovered new bugs in the Web encryption software that caused the pernicious “Heartbleed” Internet threat that surfaced in April. Experts said the newly discovered vulnerabilities in OpenSSL, which could allow hackers to spy on communications, do not appear to be as serious a threat as “Heartbleed.” The new bugs were disclosed on Thursday as the group responsible for developing thatsoftware released an OpenSSL update that contains seven security fixes. Experts said that websites […]

Asian shares steady, rising U.S. yields bolster dollar

(Reuters) – Asian shares were steady on Wednesday and the dollar benefited from rising U.S. Treasury yields, while the euro remained under pressure ahead of expected easing steps from the European Central Bank. ‘s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was flat in early trade, not far from last week’s one-year high. Japan’s Nikkei stock average .N225 rose 0.1 percent, getting a lift from a weaker yen, and building on Tuesday’s 2-month closing […]

Asian shares ride Wall Street optimism, dollar slips

(Reuters) – Asian shares edged higher on Friday, catching a lift from another record close on Wall Street, while the dollar groaned under the pressure of slumping U.S. yields. The S&P 500 index .SPX posted its third record closing high in four sessions, as investors shrugged off the first quarterly contraction of the U.S. economy in three years and focused on signs of a strengthening labor market. MSCI’s broadest index of Asia-Pacific shares outside Japan […]

Lifting oil export ban would spark U.S. economy: IHS

(Reuters) – In one of the most optimistic assessments about unlocking U.S. crude exports, the IHS report said gasoline prices would fall some 8 cents a gallon because overturning the ban would pour crude onto oil markets and lower global fuel prices. Government revenues from energy-related taxes and royalties would increase $1.3 trillion from 2016 to 2030. Jobs during that period, in both crude production and at oil field service companies, would rise an average […]

S&P 500 ends at record on mergers, ECB; small caps rise

(Reuters) – ECB chief Mario Draghi said on Monday the bank must be “particularly watchful” for any negative price spiral in the euro zone. His comments increased bets that the bank was ready to cut rates next week to counter low inflation and weak lending in the euro zone, keeping asset purchases as an option. U.S. markets, which were closed Monday for Memorial Day, had to digest the ECB news. “(It’s) a rate cut or […]

Hackers raid eBay in historic breach, access 145 million records

BOSTON (Reuters) – EBay Inc said that hackers raided its network three months ago, accessing some 145 million user records in what is poised to go down as one of the biggest data breaches in history, based on the number of accounts compromised. It advised customers to change their passwords immediately, saying they were among the pieces of data stolen by cyber criminals who carried out the attack between late February and early March. EBay spokeswoman Amanda […]

Credit Suisse escapes worst as it pleads guilty to U.S. charges

  (Reuters) – Credit Suisse on Monday became the largest bank in 20 years to plead guilty to a U.S. criminal charge, and will pay a $2.5 billion fine to authorities for helping Americans evade taxes, Attorney General Eric Holder said. But the Swiss bank escaped the worst for its business – its top management stayed in place, and the New York state bank regulator said it had decided not to revoke the bank’s license […]

AstraZeneca rejects Pfizer’s take-it-or-leave-it offer

(Reuters) – Britain’s AstraZeneca on Monday rejected a sweetened and “final” offer from Pfizer, undermining the U.S. drugmaker’s plan for a merger to create the world’s biggest pharmaceuticals group. The rebuff came nine hours after Pfizer said on Sunday it had raised its takeover offer to 55 pounds a share, or around 70 billion pounds ($118 billion) in total, and would walk away if AstraZeneca did not accept it. The rejection left some major shareholders fuming as […]