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Dollar firms as Fed suspense builds shares off highs
SINGAPORE (Reuters) - The U.S. dollar inched up against major currencies but stayed well off highs on Tuesday as investors cautiously traded expectations of whether Federal Reserve Chairman Ben Bernanke will hint at a sooner than expected reduction in bond-buying ...
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Atlas Copco Gets Mining Equipment Order in India Worth EUR8 Million
Swedish engineering group Atlas Copco AB (ATCO-A.SK) said Tuesday it has won a repeat order for mining equipment worth EUR8 million from Hindustan Zinc Ltd. (500188.BY).MAIN FACTS:-Equipment will be used in the Rampura Agucha mine in northwestern India.-Shares closed Monday at SEK178.90, valuing the company at SEK220 billion.-Write to Dominic Chopping at dominic.chopping@dowjones.com; Twitter: ...
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French Market Regulator Probes Natixis Restructuring - Report
The French market regulator AMF has opened an investigation into the planned restructuring of the French investment bank Natixis (KN.FR), reports French business daily Les Echos on Tuesday, without citing any sources.Natixis, part of the mutual bank Groupe BPCE, said in February it planned to sell the 20% stake it holds in the regional lenders Banques Populaires and Caisses d'Epargne back ...
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Magnolia Petroleum Participating in 11 Wells in Oklahoma
Magnolia Petroleum PLC (MAGP.LN), a U.S. onshore focused oil and gas exploration and production company, Tuesday said it is participating in eleven wells in Oklahoma for an aggregate net cost of $1.4 million.MAIN FACTS:-Continues to see and, more specifically, the considerable potential of the 13,500 plus net mineral acres it holds.-As part of Magnolia's on-going lease acquisition activity, ...
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European Stocks To See Cautious Start On Fed Policy Speculation
European stocks are set to edge lower on Tuesday as investors await the release of the FOMC minutes and a speech from Fed Chairman Ben Bernanke before the Joint Economic Committee of Congress on Wednesday for cues on the Fed's stance on continuing its easy monetary policy. The dollar retreated from a six-week high against the euro amid speculation that Bernanke would not hint at tapering ...
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Metals Stocks Gold prices rise following up on ‘key reversal’
LOS ANGELES (MarketWatch) -- Gold futures rose in electronic trade Tuesday, building on gains from the previous session that ended a lengthy string of ...
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Mauritius Drop in tourism hurts earnings
Earnings from tourism in Mauritius fell 12.4 percent from a year earlier to 12 billion rupees (R3bn) in the first three months of this year as the weak economic environment in Europe hurt visitors’ spending. Statistics Mauritius cut its forecast for visitor arrivals this year to 990 000 from a previous estimate of 1 million, but expected tourism revenue to rise to 46.1bn rupees from 44.3bn ...
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Ryanair flies high as earnings top forecasts
A sharp rise in earnings from add-on charges for items such as baggage and pre-assigned seating yesterday helped boost Ryanair’s earnings above expectations in the past year, lifting its shares to a record ...
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UPDATE 1-Russian retailer X5 Q1 earnings fall but beat forecast
Tue May 21, 2013 3:03am EDT * Q1 net profit down 2 pct to $65 mln vs $51 mln fcast * EBITDA up 4 pct to $284 mln vs $281 mln fcast * EBITDA margin at 6.8 pct vs 6.7 pct fcast MOSCOW, May 21 (Reuters) - Russian food retailer X5 beat profit forecasts on Tuesday as it presses on with cost cutting and streamlining after losing its market lead to closest competitor Magnit. X5 last month reported for ...
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Vodafone Silent on Verizon
Vodafone posted its largest ever quarterly fall in key organic service revenue on Tuesday, down 4.2 percent, the worst fall in its main sales measurement since the company started using that metric in 2003. As a result the telecommunications giant held onto its dividend from its U.S. arm and reinvested it into the business rather than returning it to shareholders. ...
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Divi’s Laboratories tanks over 6 on weak Q4 earnings downgrade
Divi’s Laboratories Ltd slipped over 6 per cent in morning trade on Tuesday, after the company posted 16.75 per cent decline in its consolidated net profit at Rs 180.57 crore for the fourth quarter ended March 31, ...
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Apple said to have avoided billions in tax
WASHINGTON - Even as Apple became the nation's most profitable technology company, it avoided billions in taxes in the United States and around the world through a web of subsidiaries so complex it spanned continents and surprised experts, a congressional investigation has found. Some of these subsidiaries had no employees and were largely run by top officials from the company's ...
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Ordering a combo Seamless and GrubHub are merging
For a city obsessed with food delivery, this was a deal made to order. Two of the fastest growing food-ordering websites - Seamless and GrubHub - have agreed to merge, creating a combination that can satisfy cravings from salad wraps to sushi rolls. New York-based Seamless will join forces with Chicago rival GrubHub to offer a wider menu of takeout options and improved technology to deliver food ...
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NYC building owners fear lack of terror insurance when TRIA expires
New York’s commercial real estate market is facing a threat that could rock its foundations: the loss of federal "terrorism insurance." The Terrorism Risk Insurance Act, enacted a year after the 9/11 attacks, makes American taxpayers the backstop for private insurance companies in the event of such catastrophes. The legislation comes up for renewal in 2014.If Congress fails to ...
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Time for Yahoo to move
Yahoo! is tumbling into the old Times Building on West 43rd Street with a new lease for 176,000 square feet on the 9th through 12th floors of the 16-story building, where it will consolidate its city headquarters.Yahoo! CEO Marissa Mayer announced the move as she and Mayor Bloomberg discussed the $1.1 billion Tumblr acquisition at a press event. The Post first reported the Sunnyvale, ...
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More writers join the Voice exodus
Two more staff writers yesterday joined the growing exodus at the troubled Village Voice."Today, the Village Voice regretfully accepted the resignations of food critic Tejal Rao and staff writer Nick Pinto," the company said in a statement.Pete Kotz, the interim editor, took over when Editor-in-Chief Will Bourne and his deputy, Jessica Lustig, walked off the job on Friday. The duo said ...
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Dish Net’s big bid for spectrum
Charlie Ergen, chairman of satellite-TV provider Dish Network, made a $2 billion bid for radio frequencies from LightSquared, the bankrupt wireless-broadband company owned by Philip Falcone’s hedge-fund firm, said people familiar with the offer. Ergen, 60, has offered to buy the spectrum - the frequencies used for wireless communications - even though the Federal Communications Commission ...
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SAC investors fleeing as Cohen faces prosecutors
Steve Cohen’s looming confrontation with federal prosecutors isn’t sitting well with his investors. His $15 billion hedge fund giant, SAC Capital, is expected to be hit with another round of withdrawals after prosecutors issued a flurry of subpoenas to force Cohen and other execs to testify in the government’s long-running investigation of the firm. "We don’t need ...
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A Jamie showdown at the JPM corral today
Think of it as the tempest in Tampa.JPMorgan boss Jamie Dimon is bracing for a shareholder brouhaha today in the Sunshine State that could set the tone for the future of the Wall Street firm. Dimon is in an epic struggle at the bank’s annual shareholder meeting to retain his dual roles as chairman and CEO.It’s likely that the bank honcho will secure enough votes to keep his titles, ...
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That’s $how biz ‘Spidey’ theater sold to Brits for $60M+
Live Nation has reached a deal to sell Foxwoods Theater - one of Broadway’s biggest houses - to Britain’s Ambassador Theater Group. The 1,932-seat West 42nd Street theater, the current home of "Spider-Man: Turn Off the Dark," fetched between $60 million and $70 million, according to sources. "The owner wants to be hugely respectful to the staff and the ...
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Banks may mute Bloomberg chat
Wall Street is talking, all right - about dumping Bloomberg’s chat tool. JPMorgan Chase is the latest bank to mull a new internal chat system to replace Bloomberg’s instant-messaging function amid concerns about a privacy breach, The Post has learned.The nation’s biggest bank is eyeing a chat service that is still in the early stages of development and is a collaboration ...
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Craigslist still in the business of selling sleaze
John Crudele Are you searching for a hooker? There are still hundreds of them advertising on Craigslist despite the fact that the website banished its controversial "adult services" section more than three years ago. That move, estimated to have deprived Craigslist of around $40 million a year in revenue, came as the result of a highly publicized incident in which a 24-year-old engaged ...
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Protech Khuthele Share earnings revenue climb
Protech Khuthele, the listed civil engineering group, yesterday reported a turnaround in its financial performance and a return to profitability in the year to February. Earnings a share improved to 4.4c from the 3.1c a share loss in the previous year. Group revenue rose 6 percent to R1.03 billion. Operating profit before interest improved to R46 million from the R3.8m loss in the previous year ...
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Apple has special Irish tax rates Stateless companies based in Ireland
See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management ...
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South Africa Risks Downgrade Rand Hits 4-Year Low
Peter Attard Montalto, emerging market economist at Nomura International, talks about the South African mining sector, the potential rise of further union unrest and the impact it would have on the country's ...
Discussing Liberia
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Liberia gaining the world's attention for the right reasons
When members of the international community, and even many Africans themselves, think of Africa one of a few stereotypes come to mind; poverty, crime, corruption and political instability. Africa is seen as a haven for everything nefarious in the global community, terrorists are trained here, rebels attack their governments, drugs are grown in, and exported from, African soil and many African heads of state preside over a government whose authority does not extend beyond their capital city.
Liberia, not often in the international news for doing well, seems to be making a concerted effort to redress this trend, suggesting that a period of integrity may be ahead for the continent as a whole; South Africa is hosting the FIFA World Cup, Egypt is cooperating with the international community in opening up its border with Gaza and Liberia’s government is holding its own as an example of the far-reaching effects of good governance and rooting out corruption. Read more
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