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(27-04-2011)
  • Singapore Airlines says not in talks to buy stake in HK Airlines
    Singapore Airlines Ltd (SIA) denied on Tuesday a media report that it is in talks to buy a stake in Hong Kong Airlines International Holdings Ltd. "We are not in talks to buy any stake in Hong Kong Airlines," said a spokesman at Singapore's flag carrier. The Wall Street Journal newspaper cited sources as saying that SIA is in talks to buy a minority stake in the Hong Kong-based short-haul carrier as part of an effort to tap into China's booming travel market. There was no immediate response to an email sent to Hong Kong Airlines outside office hours. The WSJ report said negotiations between SIA and Hong Kong Airlines are still at a preliminary stage and the size of the investment has not been finalised.More

  • Market uncertainty tempers forecasts for equities' gains this year - Reuters poll

    A zoomed overview shows the trading floor at the German stock exchange in FrankfurtUncertainty surrounding the timing of the U.S. Federal Reserve's interest rate hike has tempered analysts' forecasts for stock market gains this year, Reuters polls showed on Tuesday. Chinese and most European stocks have led the way with a stellar run, buoyed by stimulus from the People's Bank of China and the European Central Bank. Fund managers and strategists also warned that the prospect of an interest rate rise by the U.S. Federal Reserve this year will create turbulence in global stock markets.


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  • Europe stock indexes on track for best first quarter in years
    European shares fell on Tuesday, taking a breather from their sharp rally of the past three months triggered by the drop in the euro, with Germany's DAX index set to record its biggest first quarter gain since its creation in 1988. As the quarter draws to an end, the DAX is up 22 percent, while the FTSEurofirst 300 index of top European shares is up 16 percent, strongly outpacing Wall Street where the S&P 500 is up 0.8 percent since the start of the year. A survey of around 50 fund managers and strategists conducted in the past week predicted the pan-European STOXX Europe 600 index would rise more than 6 percent from current levels to 425 points by the end of 2015. "The question is whether being a late starter has left the ECB and Europe too far behind and too close to deflation.More

  • Market uncertainty tempers forecasts for equities' gains this year

    A zoomed overview shows the trading floor at the German stock exchange in FrankfurtUncertainty surrounding the timing of the U.S. Federal Reserve's interest rate hike has tempered analysts' forecasts for stock market gains this year, Reuters polls showed on Tuesday. Chinese and most European stocks have led the way with a stellar run, buoyed by stimulus from the People's Bank of China and the European Central Bank. Fund managers and strategists also warned that the prospect of an interest rate rise by the U.S. Federal Reserve this year will create turbulence in global stock markets.


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  • Amaya posts huge jump in adjusted profit; seeks Nasdaq listing
    By Euan Rocha TORONTO (Reuters) - Amaya Inc , which recently acquired online gambling sites PokerStars and Full Tilt, reported a near eight-fold rise in quarterly adjusted earnings on Tuesday, and outlined plans to seek a secondary listing on the Nasdaq. The Montreal-based company said it plans to win new clients and supplement growth from its core poker business through expansion into other areas such as sportsbetting, social gaming and fantasy sports. "We anticipate the launch of sports betting in certain markets in the coming days with an expansion across the network to take place through the first half of 2015," said Amaya Chief Executive David Baazov, in a statement. Amaya said it currently plans to execute on this strategy via both organic development and strategic acquisitions.More

  • Chuck Schumer: 15 Things You Didn’t Know

    Chuck Schumer: 15 Things You Didn’t KnowWhen Senate Minority Leader Harry Reid surprised Washington last week with the announcement he would retire from the Senate in early 2017 and not seek reelection, one of the first people he told was New York Sen. Chuck Schumer. Reid almost immediately endorsed Schumer, 64, to replace him as key Senate Democratic leader. Sen. Dick Durbin of Illinois, the number-two Senate Democrat, said he wouldn’t stand in the way, and now Sen. Patty Murray, also mentioned as a potential Reid replacement, said she’ll support Schumer for the role. “Sen. Chuck Schumer has spent his entire career carrying water for Wall Street interests,” Becky Bond, political director for the liberal group CREDO Action, told The Los Angeles Times.


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  • Indian equities end flat after robust opening
    Mumbai, March 31 (IANS) After trading in the positive terrain for the bulk of the day on Tuesday, a key Indian stock market index ended flat, with a marginal loss of 18.37 percent or 0.07 percent, as per provisional data. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened above the psychologically-important 28,000-point mark at 28,069.85 points and inched up to the intra-day high of 28,180.64 points -- a gain of over 200 points.More

  • Philips sells 80 percent of lighting components unit for $2.8 billion

    A Philips logo is seen at Philips headquarters in AmsterdamBy Toby Sterling AMSTERDAM (Reuters) - Philips has agreed to sell an 80.1 percent stake in its lighting components division for $2.8 billion to Go Scale Capital, a technology fund that will seek to expand the company's automotive and LED businesses. The deal announced on Tuesday is a prelude to an even bigger strategic move for Philips: spinning off its main lighting division, the world’s largest lighting maker, via a stock market flotation, as the Dutch group focuses on medical technology and selected consumer products. Philips said the deal values the components business, which comprises an automotive lighting unit and the "Lumileds" LED manufacturing business, at $3.3 billion including debt. Go Capital was advised by London-based Zaoui & Co, while Philips was advised by Morgan Stanley.


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  • Philips sells most of its lighting components unit for $2.8 billion

    A Philips logo is seen at Philips headquarters in AmsterdamPhilips (PHG.AS) has agreed to sell an 80.1 percent stake in its lighting components division for $2.8 billion (2 billion pounds) to Go Scale Capital, a technology fund that will seek to expand the company's automotive and LED businesses. The deal announced on Tuesday is a prelude to an even bigger strategic move for Philips: spinning off its main lighting division, the world’s largest lighting maker, via a stock market flotation, as the Dutch group focuses on medical technology and selected consumer products. Philips said the deal values the components business, which comprises an automotive lighting unit and the "Lumileds" LED manufacturing business, at $3.3 billion including debt. Go Capital was advised by London-based Zaoui & Co, while Philips was advised by Morgan Stanley.


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  • Key indian stock index sheds day's gains in minutes
    Mumbai, March 31 (IANS) After trading in the positive terrain for the bulk of the day on Tuesday, a key Indian stock market index shed some 310 points in a matter of minutes and was quoting lower than the previous day's quote with an hour to go for the closing bell. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened above the psychologically-important 28,000-point mark at 28,069.85 points and inched up slowly to the day's high so far of 28,180.64 points -- a gain of over 200 points. With less than an hour to go for the closing bell, the day's overall loss for the index was 36.79 points, or -0.13 percent. A similar trend at the National Stock Exchange (NSE) saw the broader 50-share CNX Nifty trading at 8,483.55 points, with a loss of 8.75 points, ot 0.10 percent.More

  • UAE's Aabar, Arabtec said to eye more Egypt investments

    UAE's Aabar, Arabtec said to eye more Egypt investmentsAbu Dhabi investment firm Aabar and UAE construction giant Arabtec are looking to increase their investments in Egypt, the chairman of both entities has reportedly said. "For us [Arabtec], for Aabar, the future is really Egypt," Khadem Abdulla Al Qubaisi, chairman of both Arabtec and Aabar, said in an interview with The Wall Street Journal. Egypt, under President Abdel Fattah Al Sisi, is trying to resurrect its economy and at an economic summit two weeks ago, Gulf states, including the UAE, pledged $12 billion in support of Egypt's government.


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  • Cautious China banks could sap Beijing's property stimulus efforts

    Farmers plant rice seedlings in a field near a residential compound in Shaxi townshipBy Engen Tham and Clare Jim SHANGHAI/HONG KONG (Reuters) - As stock market investors cheer China's latest bid to boost an ailing housing sector, bankers are gritting their teeth over th...


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  • Shore Capital profit leaps as IPO market picks up
    (Reuters) - British investment banking boutique Shore Capital Group Plc reported a nearly 54 percent rise in full-year profit, helped by resilient equity markets and a flurry of stock market listings in London last year. Guernsey-based Shore, which provides research and corporate broking services, said its pretax profit rose to 8.31 million pounds in the year ended Dec. 31, from 5.4 million pounds a year earlier. Revenue increased 13.4 percent to 40.58 million pounds. ...More

  • Templeton's Mobius says Greece to stay in euro, shares are cheap
    ATHENS (Reuters) - Veteran investor Mark Mobius of Templeton's emerging markets Investment Trust told Greek financial daily Naftemporiki on Tuesday that Greece's stock market was cheap and that the co...More

  • China stock rally boost volumes, helps Hong Kong-Shanghai equity link
    Trading volumes on a landmark share trading link between mainland China and Hong Kong have surged to a record as Beijing takes further steps to boost cross-border trading flows. Hong Kong's stock market has lagged its mainland peers with a smaller 5.7 percent gain in the same period as concerns about slowing retail sales and the local property market weigh on sentiment. "These steps are significant as they will encourage more onshore mutual funds to step into the Hong Kong markets where better opportunities exist, at least from a valuation perspective in the short term," said a market structure strategist at a European brokerage in Hong Kong. A value over 100 indicates that shares in dual-listed companies are cheaper in Hong Kong than in Shanghai.More

  • Asian shares follow Wall St rally after China easing
    HONG KONG: Asian markets rallied Tuesday, led by Hong Kong and Shanghai after China’s decision to ease mortgage rules fuelled hopes for further stimulus measures, while improved confidence weighed on the safe-haven yen. Traders were given another strong lead from Wall Street, where the three main indexes surged more than one percent, supported by the Chinese move while dealers are awaiting key US jobs data at the end of the week. Hong Kong climbed 1.03 percent, Shanghai gained 0.88 percent Tokyo added 0.65 percent, Seoul put on 0.40 percent and Sydney jumped 1.40 percent after tumbling Monday. Regional investors picked up where their counterparts in New York and Europe left off after the People’s Bank of China on Monday lowered minimum downpayments on second homes from 60-70 percent to 40 percent in a bid to boost the slowing economy.More

  • Australia shares rise on broad-based gains
    SYDNEY/WELLINGTON, March 31 (Reuters) - Australian shares percent rose 1.4 percent on Tuesday, rebounding after a steep sell-off in the previous session, helped by a positive lead from Wall Street and hopes for further economic stimulus in China. China late on Monday announced steps to ease housing taxes and lending rules to prop up a sliding housing market which is imperilling the world's second largest economy. China is Australia's No. 1 trading partner. Financials led the gains ,with the big banks including Westpac and CBA up over 1 percent.More

  • Wall Street retreats, Euro heads for record quarterly drop

    An electronic information board is seen at the London Stock Exchange in the City of LondonBy Sinead Carew NEW YORK (Reuters) - U.S. stocks retreated on Tuesday from the previous session's rally, though major indexes were headed for a positive first quarter, while the euro wa...


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  • Compensation costs down 20 percent in Goldman Sachs European arm
    By Anjuli Davies LONDON (Reuters) - Goldman Sachs International, the European arm of the Wall Street bank, saw compensation costs fall 20 percent in 2014 to $3 billion compared to a year earlier, according to its annual report. The number of staff at Goldman Sachs International rose 2 percent to 5,582 compared to 2013, meaning on average each employee was paid around $543,000 in 2014, according to the report posted on the bank's website. Based in New York, Goldman Sachs has let dozens of high-earning partners walk out to make room for more junior employees who earn less. Goldman Sachs paid its top 121 London bankers about 3 million pounds each ($4.44 million) on average last year, far exceeding payouts at other leading banks, data released in December showed.More

  • AIG Chairman Steve Miller to step down in July: WSJ

    The AIG logo is seen at its building in New York's financial district(Reuters) - American International Group Inc Chairman Robert "Steve" Miller intends to step down in July after five years in the role, the Wall Street Journal reported. The insurer's directors have not yet decided on a replacement, but the next outside chairman is expected to be a current board member, the Journal said, citing a person familiar with the matter. Miller, a turnaround specialist, joined AIG board in 2009 and became chairman in July 2010, replacing Harvey Golub who resigned after clashing with former chief executive Robert Benmosche over the botched sale of the insurer's Asian life unit. Miller served in a number of corporate restructuring situations, heading auto-parts maker Delphi Corp [DCLC.UL], Bethlehem Steel, Federal-Mogul Holdings Co and Waste Management Inc .


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