Today: BUSINESS News, Jul 08, 2011

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Jul 8, 2011

BUSINESS News, Jul 08, 2011

Asia stocks set for third week of gains before U.S. data
Thu,7 Jul 2011 11:29 PM PDT
Reuters - photoHONG KONG (Reuters) - Asian stocks are set for their third consecutive week of gains on expectations later on Friday of strong U.S. jobs data, which would encourage investors to sustain a shift toward emerging market assets that began last week.

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Jobs seen boosting hopes of an economic revival
Thu,7 Jul 2011 09:09 PM PDT
Reuters - photoWASHINGTON (Reuters) - U.S. companies probably stepped up hiring in June as the economy recovers from a stumble in recent months, although job growth is not expected to be strong enough to eat into high unemployment.

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Big pickups clog dealer lots, concern analysts
Thu,7 Jul 2011 07:04 PM PDT
Reuters - photoDETROIT (Reuters) - Big pickup trucks are clogging many U.S. dealer lots, causing headaches for General Motors Co and other automakers, and raising concerns about price wars and lower profits later in the year.

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Factbox: Reaction to Murdoch's decision to shut paper
Thu,7 Jul 2011 06:58 PM PDT
Reuters - LONDON (Reuters) - Following are headlines and reaction from British newspapers to Thursday's announcement by Rupert Murdoch's News International that it will close the News of the World tabloid. Full Story1
UK's Miliband wants media watchdog scrapped
Thu,7 Jul 2011 06:35 PM PDT
Reuters - LONDON (Reuters) - Britain's media watchdog is "toothless" and should be scrapped, opposition leader Ed Miliband is expected to say on Friday after a phone-hacking scandal sent shockwaves across the country and led to the closure of a top-selling tabloid.Full Story1
Buffett gives $1.78 billion to Gates, family charities
Thu,7 Jul 2011 05:21 PM PDT
Reuters - photoNEW YORK (Reuters) - Investor Warren Buffett has donated another $1.78 billion to several charities, with the bulk going to the Bill & Melinda Gates Foundation, as part of his plan begun in 2006 to donate 99 percent of his wealth.

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Simon Property to give CEO a million shares to stay
Thu,7 Jul 2011 04:26 PM PDT
Reuters - NEW YORK (Reuters) - The board of Simon Property Group Inc , the largest owner of U.S. malls and outlet centers, has agreed to a plan that will give CEO and Chairman David Simon 1 million shares for him to remain with the company for at least another eight years, according to a regulatory filing. Full Story1
Atco expands in Australia with gas distributor buy
Thu,7 Jul 2011 03:17 PM PDT
Reuters - photoBANGALORE/CALGARY (Reuters) - Atco Ltd , the Canadian utility and manufacturing conglomerate, said on Thursday it would buyWestern Australia Gas Networks for A$356 million (C$367 million) to strengthen its presence in booming Western Australia.

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JPMorgan settles muni bid-rigging case for $211 million
Thu,7 Jul 2011 03:16 PM PDT
Reuters - photoNEW YORK (Reuters) - JPMorgan Chase & Co agreed to pay $211.2 million to settle federal and state charges that its employees rigged bids for derivatives sold to at least 48 cities and charities.

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Exclusive: Top commodities funds take fresh beating in June
Thu,7 Jul 2011 03:03 PM PDT
Reuters - NEW YORK (Reuters) - Two of the biggest commodity hedge funds suffered a second month of painful losses in June, falling victim to a rout across raw goods markets, a hedge fund investor told Reuters on Thursday. Full Story1
Murdoch journalists stunned by paper's closure
Thu,7 Jul 2011 02:49 PM PDT
Reuters - LONDON (Reuters) - Journalists at the British tabloid shut down by Rupert Murdoch broke down in tears on Thursday and expressed shock, sadness and fury at the unexpected fallout of a phone hacking scandal. Full Story1
TSX hangs on to tiny gain despite gold retreat
Thu,7 Jul 2011 02:41 PM PDT
Reuters - TORONTO (Reuters) - Toronto's main stock market index finished flat on Thursday, erasing gains it had held through the day just moments before the session end as market players squared positions ahead of Friday's highly anticipated U.S. nonfarm payrolls report for June. Full Story1
Royal Bank of Canada to enter ETF market
Thu,7 Jul 2011 02:40 PM PDT
Reuters - photoTORONTO (Reuters) - Royal Bank of Canada , the country's biggest bank, is getting into the fast-growing exchange traded fund business, according filings with regulators this week.

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BofA to take $13 billion more in charges: Bernstein
Thu,7 Jul 2011 02:36 PM PDT
Reuters - photo(Reuters) - Bank of America will take another $13 billion in charges related to pending settlement with private label mortgage-backed securities investors, Sanford C Bernstein said.

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Entertainment, broadband firms adopt piracy warning system
Thu,7 Jul 2011 02:24 PM PDT
Reuters - LOS ANGELES (TheWrap) - A broad coalition of entertainment industry companies, guilds, Internet services and telecommunications providers said Thursday they have joined to launch a new warning system to tell consumers when they have downloaded copyrighted material illegally. Full Story1

 

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