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Apr 3, 2013

BLOOMBERG News, Apr 03, 2013

After Plan for Speed Cameras Fails in Albany, a Tirade From Bloomberg
New York Times
As it became clear that a proposal to place speed-tracking cameras on New York City's streets would fail in Albany, Mayor Michael R. Bloomberg let fly a charged and unusually personal attack against state lawmakers on Wednesday, blaming state senators, ...
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Deal Reached to Force Paid Sick Leave in New York City
New York Times
The deal required a high-profile concession from a leading candidate to succeed Mr.Bloomberg, Christine C. Quinn, the City Council speaker, who had single-handedly blocked action on the sick-leave issue for three years, arguing that it would inflict ...
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New York Times
Mayor Says '13 Hopefuls Haven't Won Him Over
New York Times
In the past, Mr. Bloomberg has often praised one of the Democratic candidates, Christine C. Quinn, the City Council speaker and a longtime ally. But Ms. Quinn announced last week that she would support Council legislation to establish a police ...
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Suncor Goes Direct to Refiners For Profit Boost
Bloomberg
Suncor Energy Inc.'s (SU) decision to scrap an C$11.6 billion ($11.4 billion) oil-sands plant shows Canadian producers are betting they can boost shareholder returns by shipping crude directly to refineries instead of investing in costly processing ...
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Corn Extends Rout to Lowest Since July on U.S. Reserves, Outlook
Bloomberg
Corn plunged the most in 24 years, entering a bear market, as bigger-than-expected U.S. stockpiles and increased planting signal ample supplies. Wheat tumbled to a nine-month low and soybeans dropped. U.S. corn inventories on March 1 totaled 5.399 ...
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Break Up the BRICS
Bloomberg
If this week's BRICS summit in Durban, South Africa, passed you by, we don't blame you. The leaders of Brazil, Russia, India, China and South Africa met, as they do once a year, to advance their common interests. They found, as they do once a year ...
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Bloomberg
Bloomberg Ups Nasdaq Tape C Admin Fee
www.waterstechnology.com
Bloomberg is increasing its monthly administration fee for the Tape C feed of Nasdaq Level 1 data from $2 to $3 -- a seemingly insignificant increase, though end-users say it increases the vendor's administration revenues while firms are still ...
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www.waterstechnology.com
Wisconsin Cancer Researcher Accused of Economic Spying for China
Bloomberg
A Medical College of Wisconsin researcher was charged with economic espionage for stealing a patented cancer-research compound to give to a university in China. Hua Jun Zhao, 42, may have stolen the compound from a Medical College office in ...
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Bloomberg
Northland Power Sells Stake in Ontario Wind Farm to Natives
Bloomberg
The Ontario Power Authority agreed to buy Grand Bend's output under a 20-year contract that pays 13.5 Canadian cents (13.3 cents) a kilowatt-hour, according to data compiled by Bloomberg. The wind farm is expected to cost C$385 million, Gordon Potts, ...
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Scotiabank Leads Mutual Funds Cutting Bank Holdings
Bloomberg
The fund has reduced bank stocks, including those of its its parent Bank of Nova Scotia, to about 12 percent of its C$3.42 billion ($3.37 billion) portfolio from 20 percent at the end of 2011, data compiled by Bloomberg show. “There's no question that ...
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Corn Leads Grain Plunge as US Reserve Tops Analysts Estimates
Bloomberg
In the six years prior to today, analysts' estimates for March inventories missed the USDA tally by 123 million bushels on average, according to data compiled by Bloomberg. That's enough corn to feed 15.4 million pigs, or 14 percent of the U.S. herd ...
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How Samsung Became World's No. 1 Smartphone Maker
Bloomberg
... in South Korea. He speaks with Cory Johnson on Bloomberg Television's "Bloomberg West." (Source: Bloomberg) -- For more "Bloomberg West" videos: http://bloom.bg/LIZpfr -- Subscribe toBloomberg on YouTube: http://www.youtube.com/Bloomberg ...
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Corn Leads Grain Plunge on Ample U.S. Inventories, Acreage Gains
San Francisco Chronicle
March 28 (Bloomberg) -- Corn plunged the most in nine months, sparking a slump in soybeans and wheat, after the U.S. government said domestic inventories were bigger than analysts forecast and that farmers will plant the most since 1936. Inventories of ...
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Master Blenders in Talks on $9.7 Billion Bid by Becht's JAB
San Francisco Chronicle
March 28 (Bloomberg) -- D.E Master Blenders 1753 NV, the coffee and tea company spun off by Sara Lee Corp., said it's in talks to be acquired by a group led by Joh. A. Benckiser in a bid that values the company at 7.6 billion euros ($9.7 billion). JAB ...
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Banro Leading Miners in Worst Drop Since 1990
Bloomberg
Canada's raw-materials stocks are forecast to extend their longest losing streak in more than 20 years, as companies such as Banro Corp. (BAA) and Teck Resources Ltd. (TCK/B) struggle with falling metals prices and concern China's growth will slow.
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U.S. Winter-Wheat Conditions Improved From November, USDA Says
Bloomberg
U.S. winter-wheat conditions improved since the last time they were measured in November as rain and snow boosted prospects in Kansas and Oklahoma, the biggest growers, according to the Department of Agriculture. The crop was rated 34 percent good ...
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Michigan Consumer Sentiment Rose to 78.6 in March From 77.6
Bloomberg
The Thomson Reuters/University of Michigan sentiment index advanced to a four-month high of 78.6, exceeding all estimates in a Bloomberg survey, from 77.6 in February. The median forecast was 72.6 after a preliminary March reading of 71.8. Americans ...
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Argentine Bonds Fall on Government Proposal to Default Holdouts
San Francisco Chronicle
The nation's restructured notes due in 2033 tumbled 1.83 cents to 51.92 cents on the dollar at 8:03 a.m. in New York, according to data compiled by Bloomberg. The yield on the bonds jumped 55 basis points, or 0.55 percentage point, to 17.04 percent ...
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Chesapeake Picks COO Dixon as Replacement for McClendon
Bloomberg
Chesapeake Energy Corp. (CHK) picked Chief Operating Officer Steven C. Dixon to be acting chief executive as co-founder Aubrey K. McClendon steps down from the natural gas explorer he led for almost a quarter century. Chesapeake's board appointed ...
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Bank of America Pays Montag More Than Moynihan for Third Year
Bloomberg
Bank of America Corp. co-Chief Operating Officer Thomas K. Montag received a 21 percent raise to $14.5 million for 2012, topping his boss Brian T. Moynihan for the third straight year. Montag, 56, got a $5.46 million cash bonus for 2012, $8.19 million ...
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Bloomberg
Rice Surges Exchange Limit as U.S. Seen Reducing Planted Acreage
Bloomberg
Rice surged the maximum allowed by the Chicago Board of Trade on signs that planting will drop to a 26-year low in the U.S., the world's fifth-largest exporter. Growers will sow 2.611 million acres with rice this year, down from 2.699 million in 2012 ...
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Oxford-Cambridge Boat Race May See First Snow in Three Decades
San Francisco Chronicle
March 28 (Bloomberg) -- The Easter Sunday Boat Race between Oxford and Cambridge universities may see snow for the first time in three decades, the U.K.'s Met Office said. Snow flurries are possible amid temperatures of up to 5 degrees Celsius (41 ...
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Money-Laundering Banks Still Get a Pass From U.S.
Bloomberg
Money laundering by large international banks has reached epidemic proportions, and U.S. authorities are supposedly looking into Citigroup Inc. (C) and JPMorgan Chase & Co. Governor Jerome Powell, on behalf of the Board of Governors of the Federal ...
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Bloomberg
Inovalis REIT Said to Raise C$105 Million in Canada IPO
Bloomberg
Inovalis Real Estate Investment Trust raised C$105 million ($103 million) in its Canadian initial public offering to invest in European office properties, according to two people familiar with the transaction. Inovalis REIT sold 10.5 million units for ...
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Are Floating Pigs Behind China's Avian Flu?
Bloomberg
News that a new form of deadly bird flu recently killed two Shanghai residents arrived in the morning's papers, along with some expert suggestions on how to avoid catching the unwelcome disease. “Wash your hands, and cover your nose and mouth when ...
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Bank of Canada Buys C$1 Billion of Securities for One Day
Bloomberg
The Bank of Canada bought C$1.001 billion ($985 million) of securities for one day. The central bank announced the purchase, aimed to keep overnight lending rates close to its current target of 1 percent, on its website today from Ottawa. Earlier today ...
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Bloomberg: NYC Homeless Shleters Should be for Residents Only!
Patch.com
Bloomberg blasted the City's homeless shelter policy on Monday, pointing out that it allows nonresidents and even foreigners to get costly beds in city's shelters with no questions asked. “What is truly ludicrous is a system that allows people from ...
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Can I be pro-Bloomberg and anti-Citizens United?
Middletown Journal
If you are tired of seeing the debate on guns dominated by the National Rifle Association and yearn for sensible weapons laws, you have to love New York Mayor Michael Bloomberg. When most politicians were caving in or falling silent, there was ...
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Flaherty Said to Get Carney Replacement List This Week
Bloomberg
The government wanted to look at a broad pool of candidates, a person with knowledge of the process told Bloomberg News in January. Flaherty issued a statement Jan. 16 that said he would be directly involved in the selection. He said in an interview ...
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Citigroup Blows by Santander as Greenest Bank on Wind Power Push
Bloomberg
The Citigroup Inc (C).-backed wind farm succeeded. In May, it began delivering enough new power for 44,000 homes, an effort that helped New York-based Citi bump Banco Santander SA (SAN) from its perch as the world's greenest bank, Bloomberg Markets...
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Bloomberg
SAC Seen Facing Smoother SEC Accord Approval Than Citi
Bloomberg
SAC Capital Advisors LP may have an easier time completing a $602 million settlement with the Securities and Exchange Commission than Citigroup Inc. (C) did in 2011, in part because it faces a different judge, according to securities lawyers. Citigroup ...
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Cyprus's Plan B Is Still a Disaster
Bloomberg
The first attempt to bail out Cyprus was such a shambles that the second looks smart by comparison. It's getting generally favorable press, too -- the best available option under the circumstances, and so on. Yes, it's an improvement. It's hard to ...
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Quebec's Marceau Affirms 2013-14 Budget Balance
Bloomberg
Quebec Finance Minister Nicolas Marceau today affirmed his earlier forecast that the province will post a C$1.5 billion ($1.5 billion) deficit in the fiscal year that ends March 31 and balance its books in fiscal 2014. Economic growth in Canada's ...
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BlackBerry Posts Surprise Quarterly Profit After Cutting Costs
San Francisco Chronicle
March 28 (Bloomberg) -- BlackBerry, the Canadian smartphone maker, reported a surprise profit in the fourth quarter, helped by a cost-cutting program, even as its sales missed analyst projections. Excluding some costs, profit was 22 cents in the period ...
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Etahnol Has Its Place, but Not in Gasoline
Bloomberg
U.S. oil production has reached a 20-year high and, since March 2012, demand for gasoline has fallen almost 5 percent. So why have prices at the pump jumped? From mid-December through the end of February they rose almost 20 percent, though they...
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Bloomberg
Gilead Hits Record High on Analyst's View of Higher Sales
Bloomberg
Research presented in November at the meeting of the American Association for the Study of Liver Diseases in Boston showed that combining Gilead's experimental drugs with a standard medicine cleared the hepatitis C virus in all 25 patients in a 12-week ...
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Total Sees Decision on Fort Hills in 4Q; Books Pipeline Space
Bloomberg
Total expects to spend C$15 billion ($14.8 billion) on energy projects in Canada through 2020 and to be producing 200,000 barrels of bitumen a day by then, Goffart said. Suncor and Total announced yesterday they had canceled plans to build the Voyageur ...
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Data Don't Add Up for Thomson Reuters
Wall Street Journal
Indeed, a survey of legal-information customers by Claudio Aspesi of Sanford C. Bernstein in January found that 61% of respondents had a subscription to Bloomberg Law, up from 36% the year before. And some respondents said Bloomberg Law was getting ...
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Luxury Developer Proposes Largest Mixed Use Project
Bloomberg
Pinnacle International, a Vancouver- based developer, plans to build the largest hotel and condominium project in Toronto, the Canadian financial capital with the most highrises under construction in North America. Pinnacle's proposal calls for six ...
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Suncor Energy goes direct to refiners to boost profit - Financial Post
By Bloomberg News
Suncor Energy goes direct to refiners to boost profit. Bloomberg News | 13/04/01 | Last Updated: 13/04/01 11:23 AM ET More from Bloomberg News. Calgary-based Suncor and Total are among several Canadian producers eyeing sales of oil-. Twitter · Google+ · LinkedIn ... Suncor rose 4 cents to C$30.44 at the close in Toronto on March 28, following its after-market upgrader announcement a day earlier, amid a broader decline in Canadian energy stocks. It was up 0.6 percent at ...
Financial Post - Top Stories
Wal-Mart Stores Inc customers' complaints show bare shelves ...
By Renee Dudley, Bloomberg News
Wal-Mart customers from Hawaii to Florida and from Texas to Vermont wrote to express their frustration after Bloomberg News reported March 26 that there aren't enough workers in the stores to keep shelves stocked, cash registers manned and shoppers' questions ... Wal-Mart's restocking challenges stem from a thinly spread labor force struggling to keep up with all the work that needs to be done, said Colin McGranahan, an analyst at Sanford C. Bernstein & Co. in New York.
Financial Post - Top Stories
Gun lobby fights back against Bloomberg's ads ... - MSNBC.com
Video on NBCNews.com: Bloomberg's advertising blitz got underway Monday aimed at ...
www.nbcnews.com/video/nightly-news/51325530
Bloomberg digs deep into pocket in anti-gun campaign - CBS News ...
CBS News video: Bloomberg digs deep into pocket in anti-gun campaign - New York City ...
www.cbsnews.com/video/watch/?id=50143502n
Mayor Bloomberg's Inner Circle Dinner - Political photos of the week ...
Time to catch up on the week in politics! Relive the highlights with our favorite photos of the past seven days. In this week's edition, Michael Bloomberg gets the ...
www.nydailynews.com/.../political-photos-week-week-march-...
Bloomberg: Nanny-in-chief or health crusader? | News - KXLY.com
New York City's billionaire Mayor Michael Bloomberg can get pretty much whatever he wants, whenever he wants. Yet the item at the top of his wish list doesn't ...
www.kxly.com/news/Bloomberg-Nanny.../-/index.html
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