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  • Wall Street edges up, on track for fourth week of gains

    Traders work on the floor of the New York Stock ExchangeThe Britain threat level "doesn't sound good, but unless there's definite news that's worse than things we've already seen recently, the market should be able to process it and move on," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey. "We've become conditioned to buy on dips.


  • Sime’s Q4 earnings slip 9pc
    KUALA LUMPUR: Sime Darby Bhd’s earnings slipped nine per cent to RM1.19 billion in the fourth quarter ended June 2014 from RM1.31 billion a year ago as the conglomerate braved challenges in the muted global economy. Sime Darby president and group chief executive Tan Sri Mohd Bakke Salleh attributed the lower earnings to “challenging global business environment” with profits of the group’s three divisions dropping between 45 and 73 per cent. As early as nine months ago, he had forewarned investors that Sime Darby’s earnings are likely to be dented by slowdown in the Australian mining sector.More

  • Mah Sing’s Q2 earnings jump to RM85m
    KUALA LUMPUR: Mah Sing Group Bhd’s net profit rose 21.4 per cent to RM84.73 million for its second quarter ended June 30 2014 from RM69.82 million in the corresponding period last year.  Group revenue increased to RM705 million from RM475.74 million previously, it told Bursa Malaysia yesterday. Mah Sing attributed the improved performance to the higher work progress from its ongoing development projects.More

  • Olam posts flat annual core earnings
    SINGAPORE: Singapore’s Olam International Ltd posted flat annual core earnings, hampered by weaker sales in the latest quarter as the company exited or downsized businesses. The commodities trader reported earnings before interest, tax, depreciation and amortisation (Ebitda) of S$1.17 billion (RM2.95 billion) for the year ended June 30, down 0.2 per cent and less than a consensus estimate of S$1.23 billion from analysts polled by Thomson Reuters I/B/E/S. ReutersMore

  • Wall Street edges down but on track for 4th week of gains

    Traders work on the floor of the New York Stock ExchangeBy Ryan Vlastelica NEW YORK (Reuters) - U.S. stocks were slightly lower on Friday, with investors finding few reasons to extend a long-running rally, even as the latest economic data joined the trend of better-than-expected reports on the economy. A note of caution entered the market as Britain raised its international terrorism threat level to the second highest level in response to possible attacks being planned in Syria and Iraq. Still, major U.S. indexes remained on track for their fourth straight week of gains. ...


  • Deals of the day- Mergers and acquisitions
    (Adds Oi SA, Evonik Industries, Tianshui Huatian Technology, Bridgepoint) Aug 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday: ** Grupo Oi SA, Brazil's fourth-biggest wireless carrier, is in talks to sell its 25 percent stake in Angola's largest mobile-phone company Unitel SA for more than $2 billion to other shareholders, Bloomberg reported, citing people familiar with the matter. ** Johnson & Johnson plans to seek a buyer for its medical device maker business, Cordis Corp, The Wall Street Journal reported, citing people familiar with the matter.More

  • Scotland risk fails to derail shares as vote looms
    With only weeks to go before Scotland votes on independence, the stock market is shrugging off the impact of a potential break-up of the United Kingdom as investors adopt a wait-and-see attitude rather than seek protection. This is as much a reflection of the marginal exposure of UK stocks to Scotland, with only 12 companies on the FTSE 350 index based north of the border, as it is about investors' belief that Scots will prove the pollsters right and vote not to split. The performance of stocks headquartered in Scotland - excluding listed investment trusts - has more or less tracked the broader FTSE 350 since Oct. 15, 2012, the date of the Edinburgh Agreement on the terms for a referendum on Scottish independence, according to data compiled by Thomson Reuters. The basket of stocks including insurer Standard Life (LSE: SL.L - news) , soft-drink group AG Barr and engineering firm Weir Group is up 17.6 percent in that time, compared with a 19.5 percent gain for the FTSE 350.More

  • US stocks edge higher in early trading

    FILE - This July 15, 2013 file photo shows a sign for Wall Street outside the New York Stock Exchange, in New York. European and Asian stock markets were subdued Friday, Aug. 29, 2014, after data showed Japan's economy is struggling to recover from a sales tax hike and that inflation in the eurozone slipped again, a sign the recovery remains weak. (AP Photo/Mark Lennihan, File)The U.S. stock market is opening slightly higher as a series of reports on the U.S. economy rolls out.


  • GLOBAL MARKETS-Euro lifts, shares drift as ECB easing bets evolve
    * Wall Street expect to nudge up after week of record highs * Euro off lows as inflation cools bets for ECB cut next Wall Street was expected to edge back up towards all-timeMore

  • Hong Kong exchange asks China for time to implement tax rules on cross-border deals
    By Saikat Chatterjee HONG KONG, Aug 29 (Reuters) - Hong Kong's stock exchange has asked Chinese regulators to give investors time to adjust to any tax rules agreed upon as part of a closely watched cross-border share trading scheme, two people briefed by the city's stock market operator said. Foreign investors are concerned that the new tax rules could come into force immediately after the scheme is launched, allowing them no time to make the necessary adjustments. The Hong Kong Exchanges and Clearing Ltd is currently negotiating the terms of the scheme, called Hong Kong Shanghai Connect, with the China Securities Regulatory Commission (CSRC), the mainland stock regulator. The CSRC was not immediately available for comment.More

  • Asian shares slump as Ukraine tensions flare

    A pedestrian walks past an electronic board showing the various stock prices outside a brokerage in TokyoBy Lisa Twaronite TOKYO (Reuters) - Asian shares slumped on Friday, pulling back from a more than six-year high touched this week, after flaring Ukraine tensions spoiled investor risk appetite. Wall Street sagged on Thursday as Ukraine's president said Russian troops had entered his country in support of pro-Moscow rebels who captured a key coastal town, escalating the five-month-old separatist conflict.  The United States on Thursday openly accused Russia of sending combat forces into Ukraine and threatened to tighten economic sanctions, but Washington stopped short of calling Moscow's latest step an invasion. "While the primary driver of losses in global equities were developments on the Ukraine-Russia front, there were growing signs that the recent rally in equities was beginning to stall," IG strategist Stan Shamu said in a note. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.2 percent, pulling away from Thursday's high of 515.13, its highest since early 2008.


  • Exclusive: Morgan Stanley plans natural gas export plant in new commodities foray

    A pumpjack brings oil to the surface in the Monterey ShaleBy Anna Louie Sussman NEW YORK (Reuters) - Morgan Stanley has quietly filed plans to build and run one of the first U.S. Department of Energy's Office of Fossil Energy submitted in May, the Wall Street bank outlined a proposal to build, own and operate a compression and container loading facility near Freeport, Texas, which will have capacity to ship 60 billion cubic feet a year of compressed natural gas (CNG). While the size of the project is small compared with bigger liquefied natural gas (LNG) projects, the plan highlights the bank's ability to exploit its status as one of two Wall Street banks which are allowed to own and operate infrastructure for the manufacture, storage and operation of raw materials. The other one is Goldman Sachs.


  • Australia shares flat after Wall Street's slip
    Woolworths falls after earnings SYDNEY/WELLINGTON, Aug 29 (Reuters) - Australian shares were flat in choppy trade on Friday, with consumer staples and miners down and investors wary after renewed tension in Ukraine hit Wall Street overnight. Trading linked to month-end settlements and the close of the domestic earnings season added to the choppiness. Wesfarmers Ltd, Asia's largest-listed retailer by market value, was down 3 percent.More

  • PRESS DIGEST -Hong Kong - Aug 29
    HONG KONG, Aug 29 (Reuters) - These are some of the leadingstories in Hong Kong newspapers on Friday. Reuters has notverified these stories and does not vouch for their accuracy. SOUTH CHINA MORNING POST -- The Hong Kong stock exchange and 450 brokerage houseshave been working closely to ensure retail investors will beable to trade on the local stock market if a planned protest byOccupy Central blocks streets in the central business district.Occupy Central plans to gather outside the governmentheadquarters in Tamar on Sunday night, said co-organiser BennyTai Yiu-ting. (http://bit. ...More

  • Drop in earnings for Kiwirail
    A frustrating financial year for Kiwirail has seen a 28 percent drop in its earnings.More

  • Wall Street loses ground on Ukraine worry

    Traders work on the floor of the New York Stock ExchangeUkraine's security and defense council said the border town of Novoazovsk and other areas of Ukraine's south-east had fallen under the control of Russian forces, together with rebels. The Federal Bureau of Investigation said it was investigating media reports that several U.S.


  • Abercrombie, Williams-Sonoma are big market movers
    Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Abercrombie & Fitch Co., down $2.13 to $41.87 The retailer reported weak sales ...More

  • FBI probes Russian link in hacking case
    NEW YORK: Hackers, believed to be from Russia, broke into the computer systems of JPMorgan Chase and a second United States bank earlier this month, sparking a federal investigation, US media reported on Wednesday. Bloomberg said two people familiar with the probe confirmed that the Federal Bureau of Investigation (FBI) was examining the case to see if it is retaliation for US sanctions against Moscow over its support of Ukraine’s secessionist rebels. Bloomberg and The Wall Street Journal, which also reported the hacking case but without naming Russians as behind it, said it was not clear what damage the hackers caused or what data they may have stolen.More

  • Ukraine, Russia tensions rock stocks, buoy core bonds

    A general view of the German stock exchange in FrankfurtBy Marc Jones LONDON (Reuters) - European shares took a sharp tumble on Thursday as accusations by Ukraine that Russia had moved troops across the border brought a three-day global rally to a shuddering halt. Ukrainian President Petro Poroshenko said Russian forces had entered Ukraine, and he convened his security and defence council to decide how to respond. The tensions put riskier assets firmly under pressure with Moscow stocks slumping and the top share index in Germany -- whose corporate sector has strong trade ties with Russia -- dropping more than 1.3 percent after other sources also reported Russian troops had crossed the border to fight alongside separatists. Wall Street, which has repeatedly set all-time highs in recent weeks, was set to open lower too despite second quarter growth being revised up and unemployment claims falling as part of an early flurry of data.


  • Asia shares mostly down, euro claws back some losses

    A file photo shows a stockmarket trader watching the trading board at the Philippine Stock Exchange in Makati City in ManilaAsia's markets mostly fell Thursday, with investors unable to build on the previous day's advances after the S&P on Wall Street notched up another record.