Business

China’s half-year report card on economic reform: slow, safe and steady

  (Reuters) -The caution is still there, the difference is today China is crossing that river in many spots at once and the water is probably deeper. Economists say there is no substitute for fundamental changes if China is to succeed in its transformation from bureaucratically-run, pollution-spewing industrial powerhouse to a more balanced, market-driven economy. However, reforms such as freeing up bank interest rates or dismantling state monopolies will cause much short-term pain, and provide […]

Side deals with Moscow thwart drive to wean Europe off Russian gas By Henning Gloystein

(Reuters) – While officials in Brussels were calling for Europe to reduce its dependency on Russian natural gas and negotiate with Moscow as a bloc, Austria was quietly bypassing the European Commission to cut its own bilateral deal on building a pipeline. The deal on the South Stream pipeline, which will be built under the Black Sea to Bulgaria and on to central Europe, shows the European Union’s difficulty in creating a unified energy policy […]

Strong consumer spending, factory data buoy U.S. growth outlook

(Reuters) – U.S. consumer spending recorded its largest gain in more than 4-1/2 years in March and factory activity accelerated last month, reinforcing views the economy was regaining steam. Economic growth stalled in the first quarter after a very cold and disruptive winter, but the data so far point to a strong second-quarter rebound. “The weakness in growth we saw in the first quarter is not indicative of what is going on in the economy. […]

U.S. consumer confidence rebounds to pre-crisis levels in first quarter: Nielsen

  (Reuters) – U.S. consumer sentiment rose sharply in the first quarter as optimism about the economic outlook improved, according to a global survey which also showed rising confidence in debt-laden euro zone countries. Globally, consumer confidence returned to pre-financial crisis levels in the first three months of this year, at its highest since the first quarter of 2007, the survey by global information and insights company Nielsen showed on Wednesday. Improving job prospects are […]

S&P 500, Dow go up; Apple, Pfizer stocks jump

NEW YORK Mon Apr 28, 2014 5:31pm EDT (Reuters) – The S&P 500 ended higher on Monday after a volatile session, as gains in Apple and Pfizer helped offset another round of selling in some high-growth tech shares. The Dow also managed to end the session with a modest gain, while the Nasdaq closed slightly lower after rebounding from a fall of over 1 percent. Leading the Nasdaq down was Amazon.com, which extended Friday’s sharp […]

Tokyo inflation hits 22-year high, inching toward BOJ goal

(Reuters) – Tokyo’s inflation jumped to a 22-year high in April by a key measure, an early sign that companies are making progress in passing on a new tax increase to customers as policy makers seek to pull Japan out of years of deflation. Friday’s data for the capital, a leading indicator of national trends showed much tamer inflation when the impact of the sales-tax hike is excluded. This underscores the daunting challenge for Prime […]

Alstom denies takeover bid from General Electric

French train maker Alstom has denied it has received an official offer for its shares from US engineering group General Electric. The denial, however, doesn’t silence takeover rumors reported earlier. Alstom was not informed of any potential public tender offer for its shares from General Electric, the French turbine and high-speed train manufacturer said Thursday. “The group constantly reviews the strategic options of its businesses,” Alstom said in a statement, adding that an update on […]

Exclusive: White House considers former banking lawyer for Fed board – sources

(Reuters) – A former lawyer with the American Bankers Association is being considered by the White House as a possible nominee to the board of the Federal Reserve, according to sources familiar with the efforts The lawyer’s name emerged as the White House weighs candidates with community banking backgrounds to fill gaps on the Federal Reserve’s powerful but depleted board, the sources said. The U.S. central bank, which is looking to wind down its most […]

The Fall Of An Icon: Nokia’s Device To Be Acquired By Microsoft

 The Fall Of An Icon By: Natalie Kate Ann Juntado     As the day gets closer for Microsoft to officially acquire Nokia’s device on the 25th of April, many of us are quite happy for Nokia, for them to finally rise again. Nokia phone has been overtaken in recent years by the likes of Samsung and Apple, it will be then reborn as a Microsoft mobile, if a supposed letter leaked online is accurate. “The […]

AT&T ups revenue growth forecast on new pricing model

By Marina Lopes NEW YORK Tue Apr 22, 2014 7:29pm EDT (Reuters) – AT&T Inc on Tuesday raised its forecast for full-year revenue growth to reflect its acquisition of LEAP wireless in March and the popularity of a new handset pricing model that charges customers for devices separately from their wireless plans. Like other carriers, AT&T is seeking growth in a nearly saturated environment, making strategies such as alternate pricing plans more crucial to attract […]

Asia shares edge ahead; investors cautious as Chinese data looms

By Wayne Cole SYDNEY Tue Apr 22, 2014 8:33pm EDT (Reuters) – Asian shares crept higher on Wednesday following merger-driven gains in Europe and on Wall Street, though investors were wary in case coming figures on Chinese manufacturing again disappointed. Japan’s Nikkei put on 0.9 percent while Australia’s main index edged up 0.2 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.15 percent. The better mood owed much to Wall Street where the […]