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| Asian shares rise after U.S. data, China GDP in focus Wednesday, Oct 17, 2012 07:47 PM PDT  TOKYO (Reuters) - Asian shares rose to their highest in seven months on Thursday, buoyed by a surge in U.S. housing starts that has followed other positive economic data, helping to further ease worries about a slowdown in global growth. The brighter tone for risk assets weighed on safe-haven U.S. Treasuries, the dollar and the yen. The MSCI index of Asia-Pacific shares outside Japan was up 0.3 percent, rising for a third day in a row with much of the market's attention set to swing to GDP figures from China, the world's No. 2 economy, due later in the day. ... Full Story | Top |
| JBS USA says to manage XL Foods' tainted Canadian beef plant Wednesday, Oct 17, 2012 07:45 PM PDT (Reuters) - JBS USA said it signed an agreement with privately held beef processor XL Foods to manage one of its Canadian operations, which has been idle since September 27 over E. coli contamination. Under the terms of the agreement, JBS USA, a subsidiary of Brazil-based JBS S.A , also has an option to purchase the Canadian and U.S. operations of XL Foods for $50 million in cash and $50 million in JBS S.A shares. Last month, the United States halted imports of beef products from XL Foods' Lakeside plant in Brooks, Alberta, due to findings of E. ... Full Story | Top |
| Despite restrictions, corporations helped with Democratic convention Wednesday, Oct 17, 2012 07:33 PM PDT  WASHINGTON (Reuters) - Companies including Duke Energy Corp, Bank of America Corp and AT&T Inc spent millions of dollars to help stage last month's Democratic convention, technically complying with the party's restrictions on corporate funding, financial disclosures revealed on Wednesday. The convention, where President Barack Obama officially accepted his nomination on September 6, marked the first time the Democratic Party, seeking to set an example, had set limits on sources of funding. It banned donations from corporations and lobbyists and capped individual donations at $100,000. ... Full Story | Top |
| Telus shareholders back share conversion plan in blow to Mason Wednesday, Oct 17, 2012 07:32 PM PDT TORONTO (Reuters) - Telus Corp shareholders voted on Wednesday in favor of a proposal to exchange the company's non-voting shares for common shares on a one-for-one basis, dealing a blow to top stakeholder Mason Capital, which had argued voting class holders should receive a premium. Mason Capital Management LLC has been locked in a bitter dispute with Telus for months over the Vancouver-based telecom company's plan to consolidate its voting and non-voting shares on a one-for-one basis. ... Full Story | Top |
| Toyota may trim 2012 output plan on China row: paper Wednesday, Oct 17, 2012 07:15 PM PDT TOKYO (Reuters) - Toyota Motor Corp is considering trimming its 2012 group-wide production plan by about 2 percent because of a drop in sales in China after a territorial row, a Japanese newspaper reported, but the company denied it had altered its target. Asia's top automaker may cut its calendar-year production forecast for 10.05 million vehicles by around 200,000 vehicles, the Mid-Japan Economist newspaper said on its website on Thursday, without citing sources. The regional daily is based in central Japan, where Toyota's headquarters is located. ... Full Story | Top |
| Obama comes out swinging after debate - in swing states Wednesday, Oct 17, 2012 05:56 PM PDT  MOUNT VERNON, Iowa (Reuters) - President Barack Obama hit rival Mitt Romney hard on women's issues as he headed back on the campaign trail on Wednesday after a spirited debate performance that re-energized his bid for a second term. A day after a much-improved performance in the second of three presidential debates, a revitalized Obama continued sparring with his Republican opponent, making fun of Romney's comment that he had received "binders full of women" to consider for cabinet positions when he was governor of Massachusetts. ... Full Story | Top |
| Obama-Romney second debate watched by 65.6 million on TV Wednesday, Oct 17, 2012 05:56 PM PDT LOS ANGELES (Reuters) - An estimated 65.6 million Americans watched the second TV presidential debate between President Barack Obama and challenger Mitt Romney, about 2 million fewer than the audience for the candidates' first matchup, according to TV ratings data. Final Nielsen data on Wednesday showed that Tuesday's town hall style debate, in which the two contenders fielded questions from undecided voters in a sometimes contentious encounter, was broadcast across 12 U.S. network and cable television channels. The Some 67. ... Full Story | Top |
| Citi insiders expect new CEO to promote from within Wednesday, Oct 17, 2012 05:51 PM PDT NEW YORK (Reuters) - Citigroup Inc insiders expect new chief executive, Mike Corbat, to promote executives from within the bank rather than hire from outside, which could mean his having to fill as many as four senior posts in the next several weeks. Corbat, who became CEO on Tuesday following the sudden departure of Vikram Pandit and Chief Operating Officer John Havens, has spent nearly 30 years at Citigroup and its predecessors. ... Full Story | Top |
| Housing starts surge in positive sign for economy Wednesday, Oct 17, 2012 05:28 PM PDT  WASHINGTON (Reuters) - Groundbreaking on new homes surged in September to its fastest pace in more than four years, a sign the housing sector's budding recovery is gaining traction and supporting the wider economic recovery. Housing starts increased 15 percent last month to a seasonally adjusted annual rate of 872,000 units, beating even the most optimistic forecasts on Wall Street, Commerce Department data showed on Wednesday. It was the quickest pace of groundbreaking since July 2008, though data on starts is volatile and subject to substantial revisions. ... Full Story | Top |
| Toyota eyes global output cut of 200,000 cars on China slump: media Wednesday, Oct 17, 2012 05:28 PM PDT TOKYO (Reuters) - Toyota Motor Corp is considering cutting its group production plan for the 2012 calendar year by around 200,000 vehicles from 10.05 million, or about 2 percent, because of a drop in sales in China after a territorial row, the Mid-Japan Economist newspaper said on its website on Thursday, without citing a source. The original target, which includes output at Daihatsu Motor and Hino Motor, would make Toyota the first automaker to produce more than 10 million vehicles in a year. The Mid-Japan Economist is based in central Japan, where Toyota's headquarters is located. ... Full Story | Top |
| Telus shareholders back share consolidation plan Wednesday, Oct 17, 2012 04:18 PM PDT TORONTO (Reuters) - Telus Corp said on Wednesday its shareholders have voted in favor of a proposal to exchange the company's non-voting shares for common shares on a one-for-one basis. Mason Capital Management LLC, the largest shareholder in Telus, has been locked in a bitter dispute with Telus for months over the Vancouver-based telecom company's plan to consolidate its voting and non-voting shares on a one-for-one basis. ... Full Story | Top |
| Alberta sets up environmental monitor for oil sands Wednesday, Oct 17, 2012 04:06 PM PDT CALGARY, Alberta (Reuters) - The Alberta government said on Wednesday it is creating a scientific agency to monitor the environmental impacts of oil sands production as the industry seeks to expand its markets into regions that are increasingly critical of the process. The body, to be funded by a combination of public and industry money, will eventually provide oversight for all of the Western Canadian province, but the initial focus will be on the tar sands-rich Lower Athabasca region. ... Full Story | Top |
| EBay posts strong results; cautious on holiday outlook Wednesday, Oct 17, 2012 03:57 PM PDT  SAN FRANCISCO (Reuters) - EBay Inc reported strong quarterly results on Wednesday, but the e-commerce company gave a cautious forecast for the crucial holiday season amid a brewing price war between big retailers and rival Amazon.com Inc. EBay said third-quarter revenue rose 15 percent to $3.4 billion, while profit climbed 14 percent to $718 million, or 55 cents a share, compared with 48 cents last year. The revenue matched Wall Street estimates, while profit beat by a penny. EBay forecast fourth-quarter revenue of $3.85 billion to $4 billion and profit of 66 cents to 69 cents per share. ... Full Story | Top |
| France's Hollande urges euro zone growth effort Wednesday, Oct 17, 2012 03:45 PM PDT PARIS (Reuters) - French President Francois Hollande appealed on Wednesday for more efforts to boost growth across the euro zone, warning ahead of a European Union summit that recession was as big a threat as budget deficits. Hollande told the daily Le Monde that troubled euro zone states should have the leeway to stimulate internal demand with salary rises and tax cuts, adding that a longer-term goal must be to reduce the big differences in borrowing costs in the bloc. ... Full Story | Top |
| Yahoo's departing CFO to get annual salary, bonus as severance Wednesday, Oct 17, 2012 03:31 PM PDT (Reuters) - Tim Morse, Yahoo Inc's departing chief financial officer, will leave the company with a severance package in accordance with a termination without cause, the company said in a regulatory filing Wednesday. According to the filing, Morse's severance includes 12 months' salary, an additional bonus of 12 months' pay as well as part of his 2013 bonus, and early vesting of stock awards. Morse's last official day with Yahoo will be November 15. ... Full Story | Top |
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