Source Match Investment News
Oil rises on falling dollar; gasoline at $3.65
Wall Street ends near flat; correction worry rises
NEW YORK (Reuters) - U.S. stocks ended little changed on Monday
with indexes hovering near record levels as concerns about a
correction cut earlier gains that were boosted by acquisition
activities. Based on the latest available data, the Dow Jones
industrial average declined 19.12 points, or 0.12 percent, to
finish unofficially at 15,335.28. The Standard & Poor's 500
Index slipped 1.18 points, or 0.07 percent, to end unofficially at
1,666.29. The Nasdaq Composite Index fell 2.53 points, or 0.07
percent, to close unofficially at 3,496.43. ...
Global shares grind higher, yen rebounds on minister's remarks
By Herbert Lash NEW YORK (Reuters) - Global equity markets
advanced on Monday, driven higher by a flurry of merger and
acquisition activity, while a recent tumble in the yen against the
dollar halted after Japan's economy minister suggested the currency
might have weakened enough. Major American and European stock
indices are up double digits - the U.S. benchmark S&P 500 index
is almost 17 percent higher so far this year - and investors still
see better returns ahead in equities, even as Wall Street traded
near break-even. Deals such as Yahoo's $1. ...
Global shares grind higher, yen rebounds on minister's remarks
By Herbert Lash NEW YORK (Reuters) - Global equity markets
advanced on Monday, driven higher by a flurry of merger and
acquisition activity, while a recent tumble in the yen against the
dollar halted after Japan's economy minister suggested the currency
might have weakened enough. Major American and European stock
indices are up double digits - the U.S. benchmark S&P 500 index
is almost 17 percent higher so far this year - and investors still
see better returns ahead in equities, even as Wall Street traded
near break-even. Deals such as Yahoo's $1. ...
Five die in van crash along Illinois highway
NYPD to increase presence after bias killing
Yahoo buying Tumblr for $1.1 billion, vows not to screw it up
By Alexei Oreskovic and Jennifer Saba SAN FRANCISCO/NEW YORK
(Reuters) - Yahoo Inc will buy blogging service Tumblr for $1.1
billion cash, giving the Internet pioneer a much-needed social
media platform to reach a younger generation of users and breathe
new life into its ailing brand. The deal, announced on Monday, is a
bold bet by Yahoo Chief Executive Marissa Mayer to revitalize the
company by co-opting a Web property with strong visitor traffic but
little revenue. ...
Banks lead FTSE to highest close since late 2000
By Sudip Kar-Gupta LONDON (Reuters) - Britain's benchmark
equity index rose on Monday to its best closing level since late
2000, helped by rising bank stocks, and analysts said there was
little holding it back from its all-time highs. Interest rate cuts
and injections of liquidity by central banks have hit returns on
bonds, driving investors to seek the better returns on offer from
equities, spurring a global stock market rally over the last year.
The blue-chip FTSE 100 index closed up by 0.5 percent, or 32.57
points, at 6,755.63 points - its highest closing level since
September 2000. ...
Oil rises on higher US stocks, falling dollar
RBI cuts time for exporters to repatriate earnings
MUMBAI (Reuters) - The Reserve Bank of India said on Monday it
has cut the time that exporters have to bring back into the country
the value of goods or software they have exported to nine months
from 12. It said its new guideline will take effect immediately and
will be valid until the end of September.
http://www.rbi.org.in/scripts/NotificationUser.aspx?Id=7991&Mode=0
(Reporting by Shamik Paul)
China offers India a 'handshake across the Himalayas'
By Frank Jack Daniel and Rajesh Kumar Singh NEW DELHI (Reuters)
- India and China will study new ways to ease tensions on their
ill-defined border after an army standoff in the Himalayas, Chinese
Premier Li Keqiang said on Monday on his first official foreign
trip. The number two in the Chinese leadership offered New Delhi a
"handshake across the Himalayas" and said the world's most populous
nations could become a new engine for the global economy if they
could avoid friction on the militarized border. ...
Supreme Court declines to hear Alaska climate change case
Wall St opens lower after record highs
NEW YORK (Reuters) - Wall Street opened weaker on Monday as
investors searched for catalysts after major U.S. equity indexes
closed a fourth consecutive week of gains Friday. The Dow Jones
industrial average slipped 14.90 points, or 0.10 percent, to
15,339.50. The Standard & Poor's 500 Index was off 1.84 points,
or 0.11 percent, to 1,665.63. The Nasdaq Composite Index lost 7.17
points, or 0.21 percent, to 3,491.79. (Reporting by Leah Schnurr;
Editing by Nick Zieminski)
North Korea fires sixth missile in three days
By Chookyung Kim SEOUL (Reuters) - North Korea fired two
short-range missiles on Monday, making six launches in three days,
and it condemned South Korea for criticizing what it said were its
legitimate military drills. South Korea's Defense Ministry said
North Korea had fired one missile on Monday morning and a second
one in the afternoon. Both were fired into the sea off North
Korea's east coast, a ministry official said. ...
UAE's TAQA says looking at share options after dual listing report
Algeria energy earnings fall 9 pct Jan-April vs same 2012 period
ALGIERS (Reuters) - The value of Algeria's oil and gas exports,
which account for about 97 of total sales abroad, fell by 9 percent
in the first four months of this year compared to the same period
in 2012 due to lower global crude prices, official figures showed
on Monday. That pushed the OPEC member north African country's
trade surplus down 39 percent to $7.16 billion in the January-April
period of 2013, according to data released by the customs
department and reported by the official APS news agency. Earnings
from energy exports dropped to $24.1 billion from $26. ...
Unclear whether Fed's bond buying has helped economy: Fisher
(Reuters) - While the Federal Reserve's accommodative policies
have boosted stocks and helped the rich, it is unclear whether they
are doing enough for the broader U.S. economy, a top central bank
official said on Monday. "We've made rich people richer...," Dallas
Fed President Richard Fisher said on CNBC television. "Question is
what have we done for working men and women in America?" Fisher,
who has long opposed the Fed's bond-buying program and wants to
reduce it, added he expects real gross domestic product growth of
more than 2.5 percent by year end. ...
Nigeria says switching to foreign debt to lower costs
By Chijioke Ohuocha LAGOS (Reuters) - Nigeria will increase the
amount it borrows overseas to around 40 percent of all debt over
the next three to five years, from 12 percent currently, to lower
its cost of funds, the head of the debt office said on Monday. DMO
Director General, Abraham Nwankwo, said he expected Nigeria's debt
to GDP ratio to fall to 17 percent over the same period from 21
percent, as Africa's second-biggest economy switches into cheaper
foreign debt. ...
Goldman exits China's ICBC, seven years and billions later
By Fiona Lau and Elzio Barreto HONG KONG (Reuters) - Goldman
Sachs launched on Monday the sale of about $1.1 billion worth of
Hong Kong-traded shares in Industrial and Commercial Bank of China,
offering to sell its entire remaining stake in the world's biggest
bank by market value. The sale by Goldman would be the final
chapter in the Wall Street bank's investment into China's ICBC.
Prior to its 2006 IPO, ICBC was a technically insolvent state
institution, reeling from the bad loans that saddled China's
financial industry. ...
Oil price falls below $96 a barrel