Saturday, June 19, 2010

Business News - 19 June 2010

  • Japan pledges to beat deflation
    Sat, 19 Jun 2010 08:43:50 -0700
    Japan's government pledges to slash corporation tax and beat deflation to achieve stable economic growth.
  • Sports Power 100 2010
    Sat, 19 Jun 2010 08:42:32 -0700
  • Test Your Saab Knowledge (pdf)
    Sat, 19 Jun 2010 08:42:32 -0700
  • Toyota to Reopen China Plant After Supplier’s Strike Called Off
    Sat, 19 Jun 2010 08:32:11 -0700
    Toyota Motor Corp.’s assembly plant in Tianjin, China, closed because of a supplier strike at Toyoda Gosei Co., will reopen on June 21 after the strike was called off today, Mieko Iwasaki, a spokeswoman for the Japan-based carmaker said today.
  • Peg is dead as China vows yuan flexibility
    Sat, 19 Jun 2010 08:19:52 -0700
    BEIJING (Reuters) - China will gradually make the yuan's exchange rate more flexible, the central bank said on Saturday a week before a G20 summit, strongly suggesting that it was ready to break the currency's 23-month-old dollar peg.


  • China hints at stronger currency
    Sat, 19 Jun 2010 08:17:51 -0700
    China indicates it will allow the yuan to rise, following Western criticism the currency is being kept artificially low.
  • 22 Killed in Turkish, PKK Clashes; Planes Bomb Iraq (Update2)
    Sat, 19 Jun 2010 08:09:00 -0700
    Ten Turkish soldiers were killed in attacks by the Kurdistan Workers’ Party, or PKK, according to Turkey’s armed forces. The military said 12 PKK members had been killed in subsequent clashes.
  • China Signals End to Yuan’s Two-Year Peg to Dollar (Update3)
    Sat, 19 Jun 2010 08:04:00 -0700
    China said it will allow a more flexible yuan, signaling an end to the currency’s two-year-old peg to the dollar a week before a Group of 20 summit.
  • Anadarko Says BP Should Pay After Being Reckless (Update2)
    Sat, 19 Jun 2010 08:01:57 -0700
    Anadarko Petroleum Corp., the Texas oil company that owns 25 percent of the damaged well pouring crude into the Gulf of Mexico, said BP Plc, the project’s operator, should pay the costs from the spill because it acted recklessly and unsafely at the drilling site.
  • Toyota resumes China plant output as strike ends
    Sat, 19 Jun 2010 07:47:09 -0700
    TOKYO/ZHONGSHAN (Reuters) - Toyota Motor Corp avoided a prolonged suspension of production at its main Chinese car factory when a strike at a plastic parts supplier was settled on Saturday.


  • Europe to urge exit from stimulus schemes at G20: Merkel
    Sat, 19 Jun 2010 07:37:53 -0700
    BERLIN (Reuters) - Europe will push for a swift exit from fiscal stimulus programs and a focus on budget consolidation at the G20 meeting next week, German Chancellor Angela Merkel said on Saturday.


  • Anadarko blasts BP for 'reckless actions'
    Sat, 19 Jun 2010 07:35:17 -0700
    Anadarko, a minority partner in the ruptured well in the Gulf of Mexico, blamed BP for "reckless" behavior, seeking to distance itself from the worst oil spill in US history.
  • Wall Street reform down to the wire
    Sat, 19 Jun 2010 07:34:53 -0700
    With one week down and one week to go on negotiations melding the two Wall Street reform bills, lawmakers have a lot of tough decisions ahead.
  • FCC asked to keep iPhone secrets
    Sat, 19 Jun 2010 07:29:46 -0700
  • Mint boss apologizes
    Sat, 19 Jun 2010 07:28:31 -0700
    "I've put my editor on warning," says founder Aaron Patzer
  • A good time to bet against Apple?
    Sat, 19 Jun 2010 07:28:29 -0700
  • AT&T and Apple's marriage made in hell
    Sat, 19 Jun 2010 07:26:52 -0700
    AT&T's epic iPhone 4 pre-order snafu on Tuesday was the latest in a long line of headaches the carrier has caused Apple. But even with concerns that AT&T accidentally revealed some subscribers' account information to other customers during Tuesday's fiasco, it's unlikely that Apple will suffer much fallout from its latest carrier crisis.
  • BP CEO the ghost at the feast as Russia fetes big oil
    Sat, 19 Jun 2010 06:55:20 -0700
    ST PETERSBURG, Russia (Reuters) - The leaders of the global oil industry gathered as usual at Russia's top annual business forum this week but there was one ghost at the party.


  • Geithner eyes implementation of China yuan move
    Sat, 19 Jun 2010 06:33:49 -0700
    WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Saturday he welcomed China's decision to make its yuan exchange rate more flexible, and called for "vigorous implementation" of the change.


  • Peg is dead as China vows yuan flexibility
    Sat, 19 Jun 2010 06:30:48 -0700
    BEIJING (Reuters) - China will gradually make the yuan's exchange rate more flexible, the central bank said on Saturday, indicating that it was ready to break a 23-month-old dollar peg that has come under intense fire from abroad.
  • U.S.' Geithner eyes implementation of yuan move
    Sat, 19 Jun 2010 06:30:38 -0700
    WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Saturday he welcomed China's announcement that it would make its yuan exchange rate more flexible, and called for "vigorous implementation" of the change.
  • INSTANT VIEW - China vows yuan flexibility ahead of G20
    Sat, 19 Jun 2010 06:30:26 -0700
    BEIJING (Reuters) - China will gradually make the yuan's exchange rate more flexible, the central bank said on Saturday, indicating that it was ready to break a 23-month-old dollar peg that has come under intense fire from abroad.
  • China ends its crisis-mode yuan peg - c.bank adviser
    Sat, 19 Jun 2010 06:10:26 -0700
    BEIJING (Reuters) - China has ended its "crisis-mode" pegging of the yuan to the dollar with a statement that it will gradually increase the flexibility of its exchange rate, an adviser to the central bank said on Saturday.
  • Medvedev Promotes Ruble to Lessen Dollar Dominance (Update1)
    Sat, 19 Jun 2010 06:09:00 -0700
    Russia wants the ruble to be one of the world’s reserve currencies as President Dmitry Medvedev renews his push to reduce the dollar’s dominance and make Moscow a global financial hub.
  • Russia GDP up 5.8 pct y/y in May - Econ Min
    Sat, 19 Jun 2010 05:50:38 -0700
    ST PETERSBURG, Russia (Reuters) - Russia's gross domestic product (GDP) rose 5.8 percent in May year-on-year and was up 0.4 percent on the month in seasonally adjusted terms, Economy Minister Elvira Nabiullina said on Saturday.
  • Russia hopeful of settling Belarus gas dispute
    Sat, 19 Jun 2010 05:50:26 -0700
    ST PETERSBURG, Russia (Reuters) - Russia said on Saturday it was hopeful of settling a gas dispute with Belarus that threatens to cut some supplies to Europe next week, but signalled it was not ready to compromise on price.
  • Fat Margins Should Drive P&G Deeper Into Razor Market
    Sat, 19 Jun 2010 05:04:26 -0700
    The presence of low-cost competition from generic products gives Gillette an incentive to innovate a
  • Greece officials confident on deficit target, growth
    Sat, 19 Jun 2010 04:50:48 -0700
    SHANGHAI (Reuters) - The budget deficit of debt-stricken Greece is declining and will meet its target, Economy Minister Louka Katseli said on Saturday, adding that she was optimistic of seeing some resumption of growth in 2011.
  • Russia sees Belarus gas resolution on current terms
    Sat, 19 Jun 2010 04:50:38 -0700
    ST PETERSBURG, Russia (Reuters) - Russia and Belarus have a good chance of resolving the conflict over gas exports while sticking to current contract conditions, Russian Energy Minister Sergei Shmatko said on Saturday.
  • China to make yuan more flexible - Xinhua
    Sat, 19 Jun 2010 04:50:26 -0700
    BEIJING (Reuters) - China will make the yuan more flexible as part of efforts to improve its exchange rate regime, the official Xinhua news agency said on Saturday, quoting the People's Bank of China.
  • Red Sox Fans Paying Extra to See Manny Being Manny
    Sat, 19 Jun 2010 04:43:09 -0700
    He was greeted to cheers for batting practice, and had a mix of cheers and boos when the game starte
  • Europe won't let euro zone state fail: ECB's Trichet
    Sat, 19 Jun 2010 04:42:02 -0700
    BERLIN (Reuters) - Europe will not allow its weakest members to collapse under their debt burden, European Central Bank President Jean-Claude Trichet said in an interview with German weekly Welt am Sonntag.


  • Momentum in U.S. stocks' favour but trading choppy
    Sat, 19 Jun 2010 04:30:26 -0700
    NEW YORK (Reuters) - U.S. stocks have momentum on their side next week, though seesawing sentiment could roil the markets and investors will scrutinize comments from the Federal Reserve to gauge the strength of the economic recovery.
  • Greece officials confident on deficit target and growth
    Sat, 19 Jun 2010 04:17:18 -0700
    SHANGHAI (Reuters) - The budget deficit of debt-stricken Greece is declining and will meet its target, Economy Minister Louka Katseli said on Saturday, adding that she was optimistic of seeing some resumption of growth in 2011.


  • Carlsberg sees approval for Chongqing share buy in 2010-paper
    Sat, 19 Jun 2010 03:40:27 -0700
    SHANGHAI (Reuters) - Danish brewer Carlsberg expects to get regulatory approval to increase its stake in China's Chongqing Brewery Co Ltd before the end of this year, a local newspaper reported on Saturday.
  • RBS in talks to sell India unit to HSBC - report
    Sat, 19 Jun 2010 02:40:26 -0700
    MUMBAI (Reuters) - Royal Bank of Scotland is in talks to sell its Indian commercial and retail unit to HSBC, Bloomberg reported, citing two people with the knowledge of the situation.
  • Milan menswear opens out, in anniversary mood
    Sat, 19 Jun 2010 02:30:37 -0700
    MILAN (Reuters Life!) - Designers such as Italian duo Dolce & Gabbana and Belgian Dirk Bikkembergs are hoping to draw crisis-hit shoppers back by staging fashion events in the most popular squares of Milan.
  • South Africa: Between Two Worlds
    Fri, 18 Jun 2010 15:00:00 -0700
    South Africa is slowly shaking off its Western leanings. It's finding new reference points in emerging markets that share similar issues.
  • Momentum in stocks' favor but trading choppy
    Fri, 18 Jun 2010 14:16:13 -0700
    NEW YORK (Reuters) - U.S. stocks have momentum on their side next week, though seesawing sentiment could roil the markets and investors will scrutinize comments from the Federal Reserve to gauge the strength of the economic recovery.


  • Wall St grinds higher in light session
    Fri, 18 Jun 2010 14:12:28 -0700
    U.S. stocks ground higher in another lightly traded session on Friday, ending a nervous week with gains despite signs of economic weakness at home and worries about public debt in Europe.
  • U.S., China face off over currency ahead of G20
    Fri, 18 Jun 2010 13:24:49 -0700
    WASHINGTON/BEIJING (Reuters) - The United States pressed China on Friday to move toward a market-based exchange rate, but Beijing said not to meddle with its management of the yuan, setting the stage for a clash at next week's G20 summit.


  • Inflation getting broad-based: Subbarao
    Fri, 18 Jun 2010 12:08:00 -0700
    Reserve Bank of India Governor D Subbarao today said inflation was getting more broad-based as demand-side pressures rose.
  • Special Report: Amid the Gulf crisis, Wall St touted BP stock
    Fri, 18 Jun 2010 10:11:30 -0700
    BOSTON (Reuters) - As early word of BP's Deepwater Horizon blowout began spreading, investors panicked. After closing above $60 before the April 20 disaster, the energy giant's shares plunged almost 20 percent in New York, to below $50, in just two weeks.


  • America's Richest Oilmen
    Fri, 18 Jun 2010 10:00:00 -0700
    Harold Hamm of Continental Resources owns more oil and gas than any other American. And none of it's in the deepwater.
  • S.African rand firmer, investors become cautious on stocks
    Fri, 18 Jun 2010 09:35:50 -0700
    The South African rand firmed against the dollar on Friday, ending the week 2 percent stronger and supported by gold and the euro, while stocks fell as recent gains were seen to be been overdone.

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