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(27-04-2011)
  • Deutsche Bank lawyer found dead in New York

    A man walks past Deutsche Bank offices in LondonA senior Deutsche Bank DBKGn.DE regulatory lawyer has been found dead in New York after committing suicide, New York City officials said on Saturday. Calogero Gambino, 41, was found on the morning of Oct. 20 at his home in the New York borough of Brooklyn and pronounced dead on the scene, according to New York City police. Gambino was an associate general counsel and a managing director who worked for the German bank for 11 years, according to the Wall Street Journal, which first reported his death. He had been closely involved in negotiating legal issues for Deutsche Bank such as a probe by regulators of banks over allegations they manipulated the Libor benchmark interest rate as well as currency markets.


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  • Kenya's East African Portland Cement full-year earnings drop
    NAIROBI (Reuters) - Kenya's East African Portland Cement posted a net loss of 386 million shillings ($4.32 million) for the year ended June 30, saying it had been hurt by price competition, high staff costs and the weakening shilling. A year ago, Kenya's No. 3 cement producer posted a net profit of 1.7 billion shillings The company will not pay a dividend this year, it said in its results, posted late on Friday. Earnings per share tumbled to -4.30 shillings, compared to 19.73 shillings a years ago. ...More

  • Deutsche Bank lawyer found dead in apparent NY suicide: WSJ

    A man walks past Deutsche Bank offices in LondonBERLIN (Reuters) - Calogero Gambino, a senior Deutsche Bank regulatory lawyer, has been found dead in New York in what appears to have been a suicide, the Wall Street Journal reported on Saturday, citing New York City officials and other sources. The 41-year-old man was found early on Oct. 20 hanging by the neck from a stairway banister, the newspaper said. Gambino, an associate general counsel and a managing director who worked for the German bank for 11 years, was found by his wife and pronounced dead by medical practitioners at the scene, according to the paper. ...


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  • S&P downgrades Ghana one notch over high fiscal deficit

    A view shows the Standard & Poor's building in New York's financial districtBy Matthew Mpoke Bigg ACCRA (Reuters) - Standard & Poor's downgraded Ghana's sovereign rating by one notch on Friday citing concerns about the cost of financing the country's high fiscal deficit and doubts about whether the government can reduce it quickly enough. The decision to lower the rating to "B-" with a stable outlook from "B" with a negative outlook appears to contradict government comments about the impact of a possible deal with the International Monetary Fund to stabilise the economy. ...


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  • Markets Weekahead - Earnings, global events key as sentiment improves

    A broker monitors share prices while trading at a brokerage firm in MumbaiReuters Market Eye - A slew of blue-chip earnings, including Maruti Suzuki and ICICI Bank to set tone. Overall sentiment seen supported by hopes of further reforms. Movements in Brent crude, which is at a four-year low, will also be watched closely. Foreign fund flows will determine sentiment for debt and forex markets. 10-year benchmark bond seen in 8.35-8.45 range, traders say. Rupee may trade between 60.75 and 61.50, traders say. KEY FACTORS/EVENTS TO WATCH Mon: Hindustan Unilever , Bharti Infratel earnings Tue: ING Vysya Bank , Nestle India , Ranbaxy Laboratories earnings. ...


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  • Look to energy names for global demand clues

    A Wall Street sign is pictured in the rain outside the New York Stock ExchangeBy Caroline Valetkevitch NEW YORK (Reuters) - Slumping energy shares drove the recent U.S. stock market selloff more than any other major group, so investors are turning to next week's slate of earnings to see if the sector can pull itself out of the pit. The third-quarter earnings picture for energy looks grim. Profit growth expectations for S&P 500 energy companies have fallen more than any other sector - from a forecast of 13.8 percent on July 1 to the current 1.8 percent, Thomson Reuters data showed. Energy shares dropped 9. ...


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  • Ralph Nader urges Apple to reduce buybacks, improve wages - WSJ

    The Apple logo is lit on the first day of sale for the iPhone 6 and iPhone 6 Plus, in SydneyConsumer advocate Ralph Nader sent a letter to Apple Inc Chief Executive Officer Tim Cook urging the company to reduce its spending on share buybacks and use the money to raise wages, the Wall Street Journal reported on Friday. The five-time presidential candidate wrote in a letter published by the paper that poverty wages and harmful conditions are "a consequence of tolerating outrageous stock buybacks." (http://on.wsj.com/ZQgyyy) "'Designed by Apple in California' has a nicer ring to it than 'assembled by workers paid about a dollar per hour, working 11-hour shifts, and sleeping eight to a room in the Jabil Circuit corporate dormitories in Wuxi, China'," wrote Nader in the letter dated Oct. 23. Apple is one of the top customers of contract electronics maker Jabil JBL.N.


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  • Wall Street finally turning on Amazon as Bezos magic fades

    Amazon CEO Bezos talks about his company's new Fire smartphone at a news conference in Seattle, WashingtonBy Deepa Seetharaman and Ross Kerber SAN FRANCISCO/BOSTON (Reuters) - Amazon.com Inc's once fairy-tale ride on Wall Street has hit its most jarring bump yet. The company that for years enthralled investors with improbable growth and earned one of the technology sector's highest valuations drew widespread ire after a spectacular results letdown on Thursday.    Amazon missed expectations across the board - on margins, on its net loss and on revenue. "They're becoming much too distracted in all these other efforts" outside core businesses like online retailing and web services, said Matthew Benkendorf, portfolio manager at Vontobel Asset Management. Benkendorf unloaded his Amazon holdings a year ago and said he would be skeptical of future involvement even if the stock falls further.


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  • Ralph Nader urges Apple to reduce buybacks and raise wages - WSJ

    Customers enter the Fifth Avenue Apple store shortly after doors opened for iPhone 6 sales in Manhattan, New York(Reuters) - Consumer advocate Ralph Nader sent a letter to Apple Inc Chief Executive Officer Tim Cook urging the company to reduce its spending on share buybacks and use the money to raise wages, the Wall Street Journal reported on Friday. The five-time presidential candidate wrote in a letter published by the paper that poverty wages and harmful conditions are "a consequence of tolerating outrageous stock buybacks." "'Designed by Apple in California' has a nicer ring to it than 'assembled by workers paid about a dollar per hour, working 11-hour shifts, and sleeping eight to a room in the Jabil Circuit corporate dormitories in Wuxi, China'," wrote Nader in the letter dated Oct. 23. Apple is one of the top customers of contract electronics maker Jabil. Apple declined to comment on Nader's letter, which echoes criticism from labour activists and right groups.


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  • Wall St. finally turning on Amazon as Bezos magic fades

    Amazon CEO Bezos is silhouetted during a presentation of his company's new Fire smartphone in SeattleSAN FRANCISCO/BOSTON (Reuters) - Amazon.com Inc's (AMZN.O) once fairy-tale ride on Wall Street has hit its most jarring bump yet. Amazon missed expectations across the board - on margins, on its net loss and on revenue. "They're becoming much too distracted in all these other efforts" outside core businesses like online retailing and web services, said Matthew Benkendorf, portfolio manager at Vontobel Asset Management. Benkendorf unloaded his Amazon holdings a year ago and said he would be skeptical of future involvement even if the stock falls further.


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  • Analysis - Wall Street finally turning on Amazon as Bezos magic fades

    A zoomed illustration image of a man looking at a computer monitor showing the logo of Amazon is seen in ViennaSAN FRANCISCO/BOSTON (Reuters) - Amazon.com Inc's once fairy-tale ride on Wall Street has hit its most jarring bump yet. Amazon missed expectations across the board - on margins, on its net loss and on revenue. "They're becoming much too distracted in all these other efforts" outside core businesses like online retailing and web services, said Matthew Benkendorf, portfolio manager at Vontobel Asset Management. Benkendorf unloaded his Amazon holdings a year ago and said he would be sceptical of future involvement even if the stock falls further.


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  • Wall Street Weekahead - Look to energy names for global demand clues

    Traders work on the floor of the New York Stock ExchangeBy Caroline Valetkevitch NEW YORK (Reuters) - Slumping energy shares drove the recent U.S. Profit growth expectations for S&P 500 energy companies have fallen more than any other sector - from a forecast of 13.8 percent on July 1 to the current 1.8 percent, Thomson Reuters data showed. With various names due to report next week, including Exxon Mobil, Chevron, ConocoPhillips and National Oilwell Varco, there are hopes that executives will suggest that the fall in oil and share prices has overstated the outlook for these names. What they have to say is an important factor for the entire global demand story," said Quincy Krosby, market strategist at Prudential Financial, based in Newark, New Jersey.


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  • HP seeking buyers for corporate-networking business in China - WSJ

    A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo Alto(Reuters) - Hewlett-Packard Co has begun sounding out private-equity firms in China to buy its corporate-networking business in the country, the Wall Street Journal reported, citing people familiar with the situation. The buyer likely needs to be based in China if the deal is to win Chinese government approval, the newspaper reported. Another Chinese technology company could also buy H3C, a major supplier of corporate data-networking gear in the country, although it is more likely to be sold to a private equity group, the Journal said, without naming any of the potential buyers.


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  • Global shares post best week since mid-2013 after earnings boost

    Trader works on the floor of the New York Stock ExchangeBy Sam Forgione NEW YORK (Reuters) - Global equity markets rose on Friday after strong corporate results from Microsoft and Procter & Gamble and reduced concerns over the possible spread of Ebola boosted U.S. shares and kept safe-haven U.S. Treasuries prices stable. MSCI's all-country world equity index rose 3.1 percent for the week, marking its biggest weekly percentage gain since July 2013, while the benchmark U.S. S&P 500 was up 5.5 percent from its low on Oct. 15 and notched its best weekly gain in almost two years. Solid U.S. corporate results bolstered shares over the week. ...


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  • US stock market has best week in nearly 2 years

    This Thursday, Oct. 2, 2014 photo shows the facade of the New York Stock Exchange. U.S. stocks rose again Friday, Oct. 24, 2014, putting the market on track for the best week in almost two years. Amazon plunged after the company reported dismal third-quarter results, but that wasn't enough to drag the rest of the market down. (AP Photo/Richard Drew)NEW YORK (AP) — The stock market closed out its best week in nearly two years on a positive note Friday, helped by strong quarterly earnings from Microsoft and other big U.S. companies.


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  • Shares post best week since mid-2013 after earnings boost

    The London Stock Exchange building is seen in central LondonBy Sam Forgione NEW YORK (Reuters) - Global equity markets rose on Friday after strong corporate results from Microsoft and Procter & Gamble and reduced concerns over the possible spread of Ebola boosted U.S. MSCI's all-country world equity index rose 3.1 percent for the week, marking its biggest weekly percentage gain since July 2013, while the benchmark U.S.


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  • Ford and Amazon are big market movers
    Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Ford Motor Co., down 62 cents to $13.78 The automaker reported a drop in quarterly ...More

  • How the Dow Jones industrial average fared Friday
    The stock market closed out its best week in nearly two years on a positive note Friday, helped by strong quarterly earnings from Microsoft and other big U.S. companies. Investors were able to set aside ...More

  • U.S. TV startup Roku to confidentially file for IPO: WSJ
    (Reuters) - U.S. TV startup Roku Inc is working on plans to confidentially file for an initial public offering, the Wall Street Journal reported, citing people familiar with the matter. ...More

  • Wall Street boosted by earnings; on track for best week of year

    Traders work on the floor of the New York Stock ExchangeThe S&P 500 is up 3.7 percent for the week, putting the index on track for its best week since the start of 2013, boosted by solid corporate earnings reports. News of the first case of Ebola diagnosed in New York hit futures late on Thursday, but the markets have shaken off those concerns on Friday. A doctor being treated for Ebola in a New York City hospital is in stable condition, the city's health commissioner said on Friday, while the World Health Organization set out plans for speeding up development and deployment of experimental Ebola vaccines. "The management of the Ebola virus has given the market some confidence that they can move forward and focus on what pricing is really predicated upon – earnings and data - and in both cases they have been very constructive," said Peter Kenny, chief market strategist at Clearpool Group in New York.


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