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| Canadian regulator blocks BCE's $3 billion Astral takeover Thursday, Oct 18, 2012 07:57 PM PDT GATINEAU, Quebec (Reuters) - Canada's broadcast regulator blocked BCE Inc's C$3 billion ($3.05 billion) takeover of Astral Media on Thursday, declaring the deal would give too much power to BCE, already the country's biggest telecoms company and owner of numerous TV and radio assets. "BCE failed to persuade us that the deal would benefit Canadians," said Jean-Pierre Blais, who took over as chairman of the Canadian Radio-Television and Telecommunications Commission (CRTC) four months ago. ... Full Story | Top |
| China January-September FDI down 3.8 percent on year to $83.4 billion Thursday, Oct 18, 2012 07:46 PM PDT BEIJING (Reuters) - China's foreign direct investment inflows fell 3.8 percent in the first nine months from a year ago, extending the longest run of declines since the depths of the global financial crisis as stiff economic headwinds dent corporate spending plans. The Commerce Ministry said on Friday that China drew $83.4 billion in foreign direct investment between January and September, with September's inflow alone down 6.8 percent on year-ago levels at $8.4 billion. ... Full Story | Top |
| Europe advances towards single banking supervisor Thursday, Oct 18, 2012 07:34 PM PDT  BRUSSELS (Reuters) - European Union leaders took a big stride towards establishing a single banking supervisor for the euro zone, agreeing it would enter into force next year, opening the way for the bloc's rescue fund to inject capital directly into ailing banks. European Council President Herman Van Rompuy said the 27 leaders agreed at a Brussels summit to adopt a legal framework by the end of this year giving the European Central Bank overall responsibility for banking supervision. ... Full Story | Top |
| Yemen takes tough sell message to U.S. businesses Thursday, Oct 18, 2012 07:18 PM PDT NEW YORK (Reuters) - It has to be one of the toughest jobs around - trying to sell U.S. businesses on the investment potential of one of the poorest nations on Earth, a country battered by Islamist militants who bomb, assassinate and kidnap. Yet it is a job U.S. Ambassador to Yemen Gerald Feierstein is taking on by leading a delegation of 10 Yemeni businessmen on a 10-day, five-city tour of the United States. "We think there are great opportunities. There's money to be made investing in Yemen," Feierstein, a career diplomat, said on Thursday. This is the first time the U.S. ... Full Story | Top |
| France's Hollande: no discussion by EU leaders of aid for Spain Thursday, Oct 18, 2012 07:09 PM PDT BRUSSELS (Reuters) - EU leaders met in Brussels for talks intended to try to bridge deep differences over plans for a banking union. Their meeting, which will resume later on Friday, was the fourth for EU leaders this year and the 22nd summit held since the crisis erupted in Greece in late 2009. (Brussels newsroom) Full Story | Top |
| Merkel says EU bank supervisor to be built in 2013 Thursday, Oct 18, 2012 07:06 PM PDT BRUSSELS (Reuters) - German Chancellor Angela Merkel said on Friday that a single European banking supervisor would be built up in the course of next year and must be completed before euro zone rescue funds may directly recapitalize troubled banks. "We give our finance ministers the ambitious task of establishing a legal framework (for supervision) by January 1, 2013. This banking supervision will then be built up in the course of 2013," she told a news conference after EU leaders reached a deal on a timetable for launching the initiative. ... Full Story | Top |
| Van Rompuy: euro zone bank single supervision probably in 2013 Thursday, Oct 18, 2012 07:06 PM PDT BRUSSELS (Reuters) - EU leaders met in Brussels for talks intended to try to bridge deep differences over plans for a banking union. Their meeting, which will resume later on Friday, was the fourth for EU leaders this year and the 22nd summit held since the crisis erupted in Greece in late 2009. For highlights of comments by EU leaders and officials from the talks click on [ID:nL5E8LI9GW] (Brussels newsroom) Full Story | Top |
| Barroso: euro zone ministers to work out bank recapitalization Thursday, Oct 18, 2012 07:05 PM PDT BRUSSELS (Reuters) - EU leaders met in Brussels for talks intended to try to bridge deep differences over plans for a banking union. Their meeting, which will resume later on Friday, was the fourth for EU leaders this year and the 22nd summit held since the crisis erupted in Greece in late 2009. (Brussels newsroom) Full Story | Top |
| China's CIC keen on Canada's resource sector: paper Thursday, Oct 18, 2012 07:01 PM PDT SHANGHAI (Reuters) - China's sovereign wealth fund China Investment Corp is interested in investing in Canada's resource and infrastructure sectors, a company executive told the official China Securities Journal. China's outbound investments have grown steadily since the 2007-2008 financial crisis, with most deals targeting resource-rich regions as the world's second-largest economy fuels growth. CIC's Toronto Chief Representative Felix Chee told the paper that CIC was most keen in Canada's resource industry as the country has abundant mineral and petroleum resources. ... Full Story | Top |
| Mobile revolution, economy trip up tech giants Thursday, Oct 18, 2012 06:23 PM PDT  SAN FRANCISCO (Reuters) - Mobile may be the future of technology, but even with the worldwide proliferation of high-powered devices like smartphones and tablets, some companies are struggling to maintain consistent revenue streams. Earnings disappointments this week from Intel Corp, Microsoft Corp, Google Inc and AMD underscore how Silicon Valley, both the old guard and new, is struggling to profit from consumers' waning love affair with the stalwart PC and infatuation with mobile -- the most significant tectonic shift in the industry since the advent of the Internet. ... Full Story | Top |
| BCE to ask Ottawa to help overturn ruling on Astral deal Thursday, Oct 18, 2012 04:50 PM PDT TORONTO (Reuters) - BCE Inc said on Thursday it will ask the federal government to intervene to help overturn a ruling by Canada's broadcast regulator to block BCE's C$3 billion ($3.05 billion) takeover of content provider Astral Media. The Canadian Radio-Television and Telecommunications Commission (CRTC) blocked the controversial deal on Thursday, saying the deal would have given too much power to BCE, already the country's biggest telecoms company and owner of numerous TV and radio assets. BCE said it will ask the federal government to intervene and issue direction to the CRTC. ($1 = 0. ... Full Story | Top |
| Chinese auto parts maker vows to top Johnson deal for A123 Thursday, Oct 18, 2012 04:38 PM PDT WILMINGTON, Delaware (Reuters) - A lawyer for Chinese auto parts maker Wanxiang Group Corp said on Thursday it plans to make a superior bid for the battery business of A123 Systems than what a U.S. company has offered. Wanxiang intends to bid at the auction for A123, which filed for bankruptcy earlier this week, Bojan Guzina said at a court hearing in Delaware. The Chinese company also plans to fight Johnson Controls Inc for the role of initial bidder for A123, the attorney said. ... Full Story | Top |
| WTO hands Obama victory in U.S.-China steel case Thursday, Oct 18, 2012 04:23 PM PDT  GENEVA/WASHINGTON (Reuters) - The World Trade Organization barred China on Thursday from imposing duties on certain U.S. steel exports, siding with U.S. President Barack Obama in a dispute with Beijing over a type of steel made in two election battleground states. The case involved duties imposed by China on "grain-oriented electrical steel," which is used in the cores of high-efficiency transformers, electric motors and generators. The steel is made by AK Steel Corp of Ohio and ATI Allegheny Ludlum of Pennsylvania. ... Full Story | Top |
| Obama hammers Romney over women, Iraq war Thursday, Oct 18, 2012 04:15 PM PDT  MANCHESTER, New Hampshire (Reuters) - President Barack Obama hammered Republican Mitt Romney over women's rights and foreshadowed arguments he will make in an upcoming debate on foreign policy during a campaign stop on Thursday in the battleground state of New Hampshire. The Democratic incumbent has rebounded since his sharper, more energetic performance in Monday night's debate helped make up for his heavily criticized, lackluster appearance in their first encounter, which gave Romney a boost in public opinion polls. ... Full Story | Top |
| Google results miss; shares dive after premature report Thursday, Oct 18, 2012 04:07 PM PDT  SAN FRANCISCO (Reuters) - Google Inc's quarterly results fell well short of Wall Street's expectations after its core advertising business slowed, stunning investors accustomed to consistently rapid growth from the Internet giant and wiping more than 9 percent off its market value. The disappointing numbers on Thursday came hours ahead of schedule in a rare instance of premature filing. Google blamed the misfire on an unauthorized filing by its financial printers, RR Donnelley & Sons Co, and later confirmed the numbers' accuracy. ... Full Story | Top |
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