Today: BUSINESS News, Jul 13 2011

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Jul 13, 2011

BUSINESS News, Jul 13 2011

China growth tops forecast, inflation fight goes on
Tue,12 Jul 2011 09:37 PM PDT
Reuters - BEIJING (Reuters) - China's economy slowed less sharply than expected in the second quarter and Beijing said corralling inflation remained its top priority even though a "complex and volatile" global economy clouded the outlook. Full Story
 
China data boosts world stocks, Aussie dollar
Tue,12 Jul 2011 08:17 PM PDT
Reuters -
photoSINGAPORE (Reuters) - Asian stocks, metals, and the Australian dollar jumped on Wednesday after Chinese economic growth data soothed some worries over a global slowdown at a time when euro zone debt worries are also deterring investors.

Bear Creek files suit in Peru over mine
Tue,12 Jul 2011 07:11 PM PDT
Reuters - LIMA (Reuters) - Canadian miner Bear Creek said on Tuesday it had filed for a legal injunction to regain its license for a mining concession in southern Peru after the government canceled it to calm protests by indigenous groups. Full Story

Electronic Arts buying PopCap Games for up to $1.3 billion
Tue,12 Jul 2011 06:25 PM PDT
Reuters -
photoNEW YORK (Reuters) - Electronic Arts Inc, the video game publisher, is buying PopCap Games in a deal worth up to $1.3 billion as it tries to ramp up its social and casual games portfolio and better compete with Zynga Inc.

New BOJ board members warn against debt underwriting
Tue,12 Jul 2011 06:18 PM PDT
Reuters -
photoTOKYO (Reuters) - A new Bank of Japan board member, Koji Ishida, said on Wednesday the central bank should avoid directly underwriting government debt because doing so could destabilize financial markets.

Netflix raises DVD, streaming plan price by 60 percent
Tue,12 Jul 2011 04:45 PM PDT
Reuters -
photoLOS ANGELES (Reuters) - Netflix Inc hiked monthly prices for customers who use both its mail and online services, a move that could steer users toward its growing Internet streaming service.

Electronic Arts buying PopCap Games for up to $1.3 billion
Tue,12 Jul 2011 04:38 PM PDT
Reuters - NEW YORK (Reuters) - Electronic Arts Inc , the video game publisher, is buying PopCap Games in a deal worth up to $1.3 billion as it tries to ramp up its social and casual games portfolio and better compete with Zynga Inc. Full Story

Borders defends auction plan amid landlords' ire
Tue,12 Jul 2011 03:53 PM PDT
Reuters -
photoNEW YORK (Reuters) - Borders Group Inc on Tuesday answered criticism from landlords who said the bankrupt bookseller has kept them in the dark on the future of their leases, saying it is providing as much information as it can under tight deadlines.

Default would slam financial system: NYC mayor
Tue,12 Jul 2011 03:37 PM PDT
Reuters -
photoNEW YORK (Reuters) - A debt default would have a catastrophic effect on the nation's financial system and also deal a huge setback to New York City, Mayor Michael Bloomberg said on Tuesday.

PIMCO's Gross raises Treasuries in flagship fund
Tue,12 Jul 2011 03:25 PM PDT
Reuters - NEW YORK (Reuters) - Bill Gross, the manager of the world's largest bond fund, has soured further on the economic outlook and has jacked up buying of U.S. Treasuries in June, according to PIMCO's website on Tuesday. Full Story

Hollywood gloats, silently, over News Corp scandal
Tue,12 Jul 2011 03:22 PM PDT
Reuters -
photoLOS ANGELES (Reuters) - British actors Hugh Grant and Steve Coogan may be publicly cheering the woes of Rupert Murdoch's media empire in a newspaper hacking scandal, but in Hollywood any gloating is largely taking place behind closed doors.

Risks growing on sharing European bailout: Moody's
Tue,12 Jul 2011 03:21 PM PDT
Reuters - NEW YORK (Reuters) - Risks that private creditors will be required to share the burden of future euro zone bailouts have been growing in the past few days, further weighing on the ratings of Ireland, Portugal and Greece, Moody's Investors Service said on Tuesday.Full Story

WaMu, shareholders clash again over bankruptcy exit
Tue,12 Jul 2011 02:56 PM PDT
Reuters -
photoWILMINGTON, Delaware (Reuters) - It's Washington Mutual Inc vs. shareholders, round II.

Fed minutes: Some ready to ease if recovery lags
Tue,12 Jul 2011 02:47 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Some Federal Reserve officials believe further monetary policy easing could be needed if the recovery remains too sluggish to cut the stubbornly high U.S. jobless rate and if inflation eases as expected, minutes of the Fed's last meeting show.

New York probes Bank of America $8.5 billion mortgage pact
Tue,12 Jul 2011 02:39 PM PDT
Reuters -
photoNEW YORK (Reuters) - New York's attorney general is investigating Bank of America Corp's $8.5 billion settlement with investors over losses in mortgage-backed securities, and has sought data from 20 institutional investors that agreed to the accord.

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