Today: BUSINESS News, Jul 04, 2011

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Jul 4, 2011

BUSINESS News, Jul 04, 2011

China pulls Asia stocks up for 5th day
Sun,3 Jul 2011 11:52 PM PDT
Reuters - photoHONG KONG (Reuters) - Asian equities climbed a fifth consecutive session on Monday, led by Chinese stocks, though the euro turned lower after ratings agency S&P warned that any rollover of Greek's debt would constitute a default.

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Peabody, China, Russia teams to win Mongolia mine bid
Sun,3 Jul 2011 10:47 PM PDT
Reuters - photoSHANGHAI (Reuters) - Peabody Energy , a venture between China's -Shenhua and Japan's Mitsui & Co , and a Russian-led consortium have been picked as preliminary winners to jointly develop the prized Tavan Tolgoi coal deposit, a senior Mongolian government source said Monday.

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Foster's wine spin-off surges on report of Chinese
Sun,3 Jul 2011 09:49 PM PDT
Reuters - MELBOURNE (Reuters) - Shares in Australia's Treasury Wine Estates Ltd surged 11 percent to a record on Monday, valuing the world's second-largest winemaker at $2.6 billion, following a report that China's Bright Food Group was considering a bid for the company. Full Story1
Peabody among prelim winners for Tavan Tolgoi: source
Sun,3 Jul 2011 08:16 PM PDT
Reuters - SHANGHAI (Reuters) - U.S. miner Peabody Energy , a venture between China's Shenhua and Japan's Mitsui & Co and a Russian-led consortium have been picked as preliminary winners to jointly develop the prized Tavan Tolgoi coal deposit, a senior Mongolian government source said on Monday. Full Story1
More questions raised about Strauss-Kahn accuser
Sun,3 Jul 2011 07:55 PM PDT
Reuters - photoNEW YORK (Reuters) - Scrutiny of the accuser in the sexual assault case against former IMF chief Dominique Strauss-Kahn intensified on Saturday after more revelations about her conduct following the purported May 14 attack.

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"Transformers" global box office hits $372 million
Sun,3 Jul 2011 07:19 PM PDT
Reuters - photoLOS ANGELES (Reuters) - Big-budget Hollywood flick "Transformers: Dark of the Moon" smashed rivals and delighted movie fans around the world, ringing up $372 million at global box offices since its Wednesday debut, Paramount Pictures said on Sunday.

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BOJ Shirakawa says global growth slowing but recovery intact
Sun,3 Jul 2011 06:47 PM PDT
Reuters - TOKYO (Reuters) - Bank of Japan Governor Masaaki Shirakawa said the world economy continues to recover albeit at a slower pace, taking a slightly more cautious view on global growth as signs of a slowdown spread to emerging economies. Full Story1
Australia grounds Singapore's Tiger Airways over safety
Sun,3 Jul 2011 03:17 PM PDT
Reuters - CANBERRA (Reuters) - Australia's airline safety regulator has grounded the local operations of Singapore's budget carrier Tiger Airways Holding Ltd over "serious" safety concerns, disrupting thousands of passengers at the start of the school holiday season. Full Story1
Short-sellers' hunt for fraud shifts to Hong Kong
Sun,3 Jul 2011 12:01 PM PDT
Reuters - NEW YORK (Reuters) - They are victims of their own success. So now it's time for short sellers of Chinese stocks listed in North America to shift their attention thousands of miles away to Hong Kong. Full Story1
Analysis: Short-sellers' hunt for fraud shifts to Hong Kong
Sun,3 Jul 2011 11:56 AM PDT
Reuters - NEW YORK (Reuters) - They are victims of their own success. So now it's time for short sellers of Chinese stocks listed in North America to shift their attention thousands of miles away to Hong Kong. Full Story1
Iraq oil minister says no need for national oil company
Sun,3 Jul 2011 10:32 AM PDT
Reuters - BAGHDAD (Reuters) - The creation of a new Iraqi National Oil Company to run the OPEC member's energy sector is not essential and might confuse the work of the oil ministry, Iraq's oil minister said on Sunday. Full Story1
"Transformers" global box office hits $372 million
Sun,3 Jul 2011 10:08 AM PDT
Reuters - photoLOS ANGELES (Reuters) - Big-budget Hollywood flick "Transformers: Dark of the Moon" smashed rivals and delighted movie fans around the world, ringing up $372 million at global box offices since its Wednesday debut, Paramount Pictures said on Sunday.

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Case for Sprint shares weakens: Barron's
Sun,3 Jul 2011 08:52 AM PDT
Reuters - NEW YORK (Reuters) - The case for buying shares of wireless company Sprint Nextel Corp is weakening as the company faces tough choices about upgrading its network, Barron's reported in its latest issue. Full Story1
Weber says UBS generation change key task: report
Sun,3 Jul 2011 06:44 AM PDT
Reuters - ZURICH (Reuters) - One of the most important tasks facing Axel Weber as UBS's next chairman will be to press on with a change of generations in the Swiss bank's management, he told a Sunday magazine. Full Story1
Greek sovereignty to be massively limited: Juncker
Sun,3 Jul 2011 05:07 AM PDT
Reuters - photoBERLIN (Reuters) - Greece faces severe restrictions on its sovereignty and must privatize state assets on a scale similar to the sell off of East German firms in the 1990s after communism fell, Eurogroup chairman Jean-Claude Juncker said.

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