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Boeing aims to win half of China’s orders: executive (Reuters)

September 21, 2011 in Asia Pacific Business News

BEIJING, Sep. 21, 2011 (Reuters) -- Boeing <BA.N> aims to win at least half China's expected 5,000 new aircraft orders over the next 20 years, to maintain its market share in a country where it sees annual double-digit aviation growth over the same period. ... read full story
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European stocks fall on Greek crisis

September 21, 2011 in Asia Pacific Business News

LONDON : European equities and the euro fell on Wednesday on fresh concerns over banks' exposure to indebted Greece, but losses were capped by expectations of more stimulus measures from the US Federal Reserve.
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Foster’s accepts SABMiller takeover worth US$10b

September 21, 2011 in Asia Pacific Business News

LONDON: Australian beer giant Foster's has accepted an improved takeover worth A$9.9 billion (US$10.16 billion) from British-based brewer SABMiller, the pair announced on Wednesday.
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DealBook: Guilty Verdict Reached in Another Insider Trading Case

September 21, 2011 in Asia Pacific Business News

James Fleishman, who worked at Primary Global Research, was convicted of orchestrating a secret exchange of information between hedge fund traders and employees at companies.

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Bank of England unanimous in freezing rates

September 21, 2011 in Asia Pacific Business News

LONDON : Bank of England policymakers voted 9-0 in September to keep interest rates at a record low 0.50 percent, minutes of the last meeting showed on Wednesday.
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G.O.P. Urges No Further Fed Stimulus

September 21, 2011 in Asia Pacific Business News

Despite the limping economy, the Republican Congressional leadership wants Ben S. Bernanke, the Federal Reserve chairman, to avoid further stimulus.

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General Mills profit slips (Reuters)

September 21, 2011 in Asia Pacific Business News

, Sep. 21, 2011 (Reuters) -- General Mills Inc <GIS.N> reported a lower quarterly profit on Wednesday, as the food company was hit by higher ingredient and fuel costs. ... read full story
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DealBook: Capital One Denies ING Deal Would Make It ‘Too Big to Fail’

September 21, 2011 in Asia Pacific Business News

Consumer groups and smaller banks are warning that the $9 billion merger, if approved, could pose systemic threats to the economy.

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Senator Wyden: Repeal foreign profit tax break (Reuters)

September 21, 2011 in Asia Pacific Business News

WASHINGTON, Sep. 21, 2011 (Reuters) -- The tax code may be headed for some major renovation, and Senator Ron Wyden, a rangy Oregon Democrat, has come up with one of Congress' most complete blueprints. ... read full story
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Exclusive: Netflix, Discovery in new streaming deal: sources (Reuters)

September 21, 2011 in Asia Pacific Business News

photoNEW YORK, Sep. 21, 2011 (Reuters) -- Netflix Inc and Discovery Communications Inc have reached an agreement to bring episodes of popular TV adventure shows including "Man vs. Wild" and "River Monsters" to the streaming service, according to people close to the deal. ... read full story


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Markets Expect Fed To Try Something New

September 21, 2011 in Asia Pacific Business News

European markets are for once fixed on something other than their own problems, as investors everywhere wait to see whether the U.S. Federal Reserve will 'twist.'


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Thinking Entrepreneur: Ten Years Later, An E-Mail From The Employee I Wanted to Forget

September 21, 2011 in Asia Pacific Business News

The employee that I wanted to forget -- the one I couldn't talk about or even think about for 10 years -- just sent me a note.

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SABMiller agrees to buy Foster’s for $10.2 billion (Reuters)

September 21, 2011 in Asia Pacific Business News

LONDON, Sep. 21, 2011 (Reuters) -- Brewing giant SABMiller Plc <SAB.L> agreed to buy Foster's Group <FGL.AX> for an increased price of A$5.10 a share valuing the Australian beermaker at A$9.9 billion ($10.2 billion) and putting SABMiller at the head of Australia's beer market. ... read full story
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Economix Blog: Casey B. Mulligan: The Logic of Cutting Payroll Taxes

September 21, 2011 in Asia Pacific Business News

The jobs produced by a payroll tax cut may be small, but it's well worth doing, an economist writes.

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BoE set to pump more money into UK economy (Reuters)

September 21, 2011 in Asia Pacific Business News

LONDON, Sep. 21, 2011 (Reuters) -- The outlook for the British economy is weakening so quickly that the Bank of England on Wednesday signaled it was ready to pump in more money, potentially as soon as October. ... read full story
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GM CEO “clearly” concerned about U.S. recession risk (Reuters)

September 21, 2011 in Asia Pacific Business News

photoSHANGHAI, Sep. 21, 2011 (Reuters) -- Pent-up car demand in the United States and slowing, but still growing sales in China, should soften concerns about the ability of General Motors Co <GM.N> to weather a recession, the company's chief executive said. ... read full story


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UBS fraud likely to reveal management failures, again

September 21, 2011 in Asia Pacific Business News

Although there are still many unknowns about the alleged trading fraud at UBS, poor human supervision and too much reliance on electronic systems are likely to be key failures, according to Kroll's Richard Abbey.


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Production efficiency is key to maintaining China’s economic growth

September 21, 2011 in Asia Pacific Business News

Kim Eng Tan, Standard & Poor’s senior director of sovereign and international public finance ratings, explores some of the issues that will influence China’s economic growth prospects.


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A history of extreme money

September 21, 2011 in Asia Pacific Business News

Satyajit Das’s latest book provides a history of money and, though not directly about the crisis, is an insight into the origins of today’s problems.
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CLSA’s Mayo says US banks face long haul to recovery

September 21, 2011 in Asia Pacific Business News

American banks need to slash more jobs and radically change their incentive structures, according to CLSA's Mike Mayo, but at least they are in better shape than Japan's banks were in the 1990s.


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HSBC focusing on offshore Asian product distribution

September 21, 2011 in Asia Pacific Business News

HSBC appoints Apratim Chakravarty as head of offshore Asian product distribution, in a newly created role to facilitate flows from Europe and the US into Asia.


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Chinese iron ore miner seeks $148 million from IPO

September 21, 2011 in Asia Pacific Business News

Having initially planned to sell shares in June, China Hanking returns to the market with an offering that sources say has secured enough support before launch to get done -- even in the current volatile environment.
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Australia’s Qantas faces further strikes

September 21, 2011 in Asia Pacific Business News

SYDNEY: Australian airline Qantas could face more strike action within days, with ground staff again ready to stop work over deadlocked talks on pay and conditions, a union official said Wednesday.
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Reuters Breakingviews: UBS Senior Staff Should Feel Losses – Reuters Breakingviews

September 21, 2011 in Asia Pacific Business News

Loading the cost of its latest scandal onto the staff could appease UBS?s shareholders and regulators, but it would risk causing another exodus.

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UBS Meets in Singapore; Beijing Air Show Starts

September 21, 2011 in Asia Pacific Business News

Asia Today: The board of UBS meets in Singapore on the heels of a massive rogue trading scandal; Asian aviation growth forecasts aren't as rosy as predicted; Japan's new prime minister speaks with the WSJ exclusively.


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Square Feet: Tenants Await Landlord?s Next Move in a Manhattan Landmark

September 21, 2011 in Asia Pacific Business News

Gary Barnett has spent tens of millions restoring the Belnord, a landmarked Manhattan apartment building, but debt may force him to give it up.

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Advertising: To Address a Reshaped Market, Grey Adds a Unit

September 21, 2011 in Asia Pacific Business News

Grey Healthy People will serve as an umbrella division for advertising beyond traditional health care marketers.

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Nickel Soda Fountain Puts Fizz Back Into Pharmacy

September 21, 2011 in Asia Pacific Business News

Five-cent colas, coffee and ice cream for sale at Ava Drug, a pharmacy in Missouri, have been taking older generations back to the ?50s while drawing in a new crowd.

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Solyndra Executives to Invoke Fifth Amendment Rights

September 21, 2011 in Asia Pacific Business News

The top two executives of Solyndra say they will invoke their constitutional rights against self-incrimination at a Congressional hearing regarding the company?s bankruptcy.

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After Disclosures by WikiLeaks, Al Jazeera Replaces Its Top News Director

September 21, 2011 in Asia Pacific Business News

Disclosures from WikiLeaks indicated that Al Jazeera?s top news director, Wadah Khanfar, had modified the network?s coverage of the Iraq war in response to pressure from the United States.

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Myanmar calls in IMF to help cool soaring currency

September 21, 2011 in Asia Pacific Business News

YANGON - "How much do you want?" the old lady asks, pulling out a wad of notes. Despite a soaring currency that has led Myanmar to call in the IMF, Yangon's illegal money changers are not short of customers.
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RedZone Channel: Red Meat for N.F.L. Fans

September 21, 2011 in Asia Pacific Business News

NFL Network?s RedZone channel is a nonstop, commercial-free, seven-hour orgy of highlights every Sunday afternoon during the pro football season.

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Australia to Europe: Get your act together

September 21, 2011 in Asia Pacific Business News

SYDNEY: Australian Treasurer Wayne Swan on Wednesday urged European nations to "get their act together" as the International Monetary Fund released dire new predictions for the global economy.
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Joe Dressner, Importer of Old World Wines, Dies at 60

September 21, 2011 in Asia Pacific Business News

Mr. Dressner?s Manhattan company specialized in producers from Italy and France, and he championed wines that were expressions of local cultures.

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Taiwan, Japan close in on investment pact

September 21, 2011 in Asia Pacific Business News

TAIPEI - Taiwan and Japan are close to signing a historic pact that would see the island open up to Japanese firms, media said Wednesday, as one official reported "big progress" in recent talks.
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Taiwan, Japan to sign investment pact

September 21, 2011 in Asia Pacific Business News

TAIPEI: Taiwan and Japan will sign a historic investment pact Thursday, as China has relaxed previous strong opposition to economic deals between the island and third parties, officials in Taipei said.
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Greek Rescue Talks End With Progress Reported

September 21, 2011 in Asia Pacific Business News

International inspectors will return to Greece next week to assess the country?s progress in meeting austerity targets, as talks ended Tuesday without an agreement in place.

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PepsiCo?s Chick Pea Plan Includes Taking On Famine

September 21, 2011 in Asia Pacific Business News

The company said an increased yield of the crop in Ethiopia would result in more hummus for its store products and for third-world hunger projects.

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Analysis: Nike, Adidas trounce China sportswear players (Reuters)

September 21, 2011 in Asia Pacific Business News

photoSHENZHEN/HONG KONG, Sep. 21, 2011 (Reuters) -- Drawn by a handwritten notice, a handful of customers sift through stacks of sports shoes and rows of clothes at a Li Ning discount outlet in China's boom town of Shenzhen on a Sunday afternoon. ... read full story


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US-China chicken trade dispute heats up

September 21, 2011 in Asia Pacific Business News

WASHINGTON DC: A trade war may be looming after the US accused China of imposing wrongful trade duties on US poultry exports.
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China says duties on US chicken products lawful

September 21, 2011 in Asia Pacific Business News

BEIJING: Beijing said Wednesday that duties imposed on US poultry exports were lawful, after Washington asked the World Trade Organization to look at Chinese tariffs on the billion-dollar chicken trade.
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Asian stock markets mixed ahead of Fed decision

September 21, 2011 in Asia Pacific Business News

HONG KONG: Asian stocks were mixed in edgy trade early Wednesday as dealers awaited the end of a US Federal Reserve meeting later, with most expecting new monetary easing measures to jumpstart the economy.
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Asian markets mostly up ahead of Fed decision

September 21, 2011 in Asia Pacific Business News

HONG KONG - Asian stocks mostly rose in edgy trade on Wednesday, helped by bargain buying as dealers await the end of a US Fed meeting, expecting fresh monetary easing measures to jumpstart the economy.
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William F. May, 95, Dies; Helped Found Lincoln Center Film Society

September 21, 2011 in Asia Pacific Business News

Mr. May, who led the American Can Company for 15 years, was also a longtime board member of The New York Times.

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Fed Should Resist New Stimulus, Republicans Say

September 21, 2011 in Asia Pacific Business News

In an unusual move, Republican leaders of the House and Senate are urging Federal Reserve policymakers against taking further steps to lower interest rates.

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Asian markets cautious but positive ahead of Fed Reserve meeting

September 21, 2011 in Asia Pacific Business News

Tokyo: Japanese stocks opened marginally higher as investors awaited the outcome of a policy-setting meeting of the US central bank amid hopes for new stimulus.
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BofA dismisses 13 investment bankers: report (Reuters)

September 21, 2011 in Asia Pacific Business News

photo, Sep. 20, 2011 (Reuters) -- Bank of America Corp <BAC.N> dismissed 13 investment bankers in its industrials group and may cut more, Bloomberg reported on Tuesday, citing two people with direct knowledge of the actions. ... read full story


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Unemployment falls in S.Korea

September 21, 2011 in Asia Pacific Business News

Seoul: South Korea's unemployment rate fell in August from the previous month, official figures showed Wednesday.
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Japan exports disappoint, could weaken further (Reuters)

September 21, 2011 in Asia Pacific Business News

photoTOKYO, Sep. 20, 2011 (Reuters) -- Japan's exports rose in the year to August at less than half the pace expected as a global economic slowdown, a strong currency and Europe's sovereign debt crisis put the country's own recovery increasingly in doubt. ... read full story


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To Tourists, Greek Debt Crisis Is a Distant Concept

September 21, 2011 in Asia Pacific Business News

The number of foreign visitors to Greece?s islands and ancient monuments is set to reach a record of 16.5 million this year.

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UBS chief still confident of board support despite trading loss (Reuters)

September 21, 2011 in Asia Pacific Business News

photoSINGAPORE, Sep. 20, 2011 (Reuters) -- UBS <UBSN.VX> chief executive Oswald Gruebel said on Wednesday he still has support from the Swiss bank's board of directors, after unauthorized trading caused a $2.3 billion loss. ... read full story


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Japan records huge trade deficit as imports soar

September 21, 2011 in Asia Pacific Business News

TOKYO: Japan recorded a much larger-than-expected trade deficit in August as imports soared despite an upturn in exports, official data showed on Wednesday.
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GM labor deal creates jobs, holds line on costs (Reuters)

September 21, 2011 in Asia Pacific Business News

photoDETROIT, Sep. 20, 2011 (Reuters) -- A tentative contract between General Motors Co <GM.N> and the United Auto Workers union adds U.S. factory jobs and replaces traditional wage increases with profit-sharing, union officials said on Tuesday. ... read full story


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Indonesia preps first PPPs, plans land law for year end

September 21, 2011 in Asia Pacific Business News

The government has finally arranged its first public-private partnership and should pass its much-delayed land acquisition bill by December too, says BKPM head Gita Wirjawan.
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NDF curve no longer reflects RMB appreciation: HSBC

September 21, 2011 in Asia Pacific Business News

Investors are no longer willing to pay a premium in the NDF market to gain renminbi exposure, says HSBC. The liberalisation of the FX forward market in Hong Kong has seen a migration to CNH FX forwards which more accurately reflect interest rate differentials.
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Asian corporate credits are oversold: Morgan Stanley

September 21, 2011 in Asia Pacific Business News

The US investment bank believes that Asian corporate bonds spreads have fallen too far and should rebound due to reduced supply.
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Asia (ex Japan) Syndicated Loans Bookrunner Ranking: 21-09-11 YTD

September 21, 2011 in Asia Pacific Business News

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Bond manager factors global slowdown, pulls out of yen debt

September 21, 2011 in Asia Pacific Business News

Asset manager Barings believes a global growth slowdown is likely to happen and is moving overweight Asian local currency, while being underweight yen to take advantage, it said.
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Bond manager factors in global slowdown, sells off yen debt

September 21, 2011 in Asia Pacific Business News

Asset manager Barings believes a global growth slowdown is likely to happen and is moving overweight Asian local currency, while being underweight yen to take advantage, it said.
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Indonesia debt sell off pace is declining: Citi

September 21, 2011 in Asia Pacific Business News

Indonesian debt has been sold off aggressively in the last ten days but the rate is easing up. Other Asian debt is having similar problems but the data is not as readily available, Citi says.
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HSBC appoints new APAC offshore sales chief

September 21, 2011 in Asia Pacific Business News

The British lender has moved Apratim Chakravarty from Indonesia where he was it head of global markets to a new role selling Asian rates, FX, and credit products to investors outside of Asia Pacific based in Hong Kong.
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Philippines poised to intervene against peso speculation

September 21, 2011 in Asia Pacific Business News

The country?s central bank is evaluating whether the peso, its local currency, is being overly-influenced by market speculation.
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EM high-yield credits appeal: Threadneedle

September 21, 2011 in Asia Pacific Business News

The UK-based investment manager prefers emerging market high-yield credits to developed market government bonds on the back of their relative fiscal strength.
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Asia companies to drive Latam, Europe asset sales: BBVA

September 21, 2011 in Asia Pacific Business News

The second-largest bank in Spain believes Chinese companies in particular are likely buyers for assets in Europe and Latin America.
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Brazil’s Mantega: Europe Must Save Itself

September 20, 2011 in Asia Pacific Business News

Europe must take concrete steps to resolve the sovereign debt problems of Greece and other countries before developing nations can offer their own assistance, Brazilian Finance Minister Guido Mantega says in an interview.


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U.S. probes 8 offshore banks for aiding tax evasion (Reuters)

September 20, 2011 in Asia Pacific Business News

photo, Sep. 20, 2011 (Reuters) -- Eight offshore banks are the subject of United States federal grand jury investigations examining whether they helped Americans evade taxes, a sign that authorities may be ready to issue subpoenas to those banks as part of a crackdown on offshore tax cheating. ... read full story


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Madrid Teachers Strike Against Budget Cuts

September 20, 2011 in Asia Pacific Business News

Madrid teachers started a two-day strike on Tuesday, protesting teacher layoffs and a second round of austerity cuts by the central government.


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Media Decoder Blog: Former NPR Official Gets New Position

September 20, 2011 in Asia Pacific Business News

Ellen Weiss, who left NPR after her involvement in the controversial firing of Juan Williams, is joining the Center for Public Integrity.

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TV Ad Spending Rises Even as Viewership Drops

September 20, 2011 in Asia Pacific Business News

Here's an economic riddle: More people are turning off television than ever before. So why are advertisers spending more money advertising there? Jessica Vascellaro explains on The News Hub.


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Airline Trade Group Revises Its Profit Forecast Higher for 2011

September 20, 2011 in Asia Pacific Business News

A trade group that represents airlines raised its forecast for combined airline profit in 2011 to $6.9 billion, but said demand would slow by the end of the year.

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Exclusive: Guggenheim reorganizes, phases out Rydex ETF brand (Reuters)

September 20, 2011 in Asia Pacific Business News

NEW YORK, Sep. 20, 2011 (Reuters) -- Guggenheim Partners LLC is merging 11 asset management businesses into a new $119 billion firm and changing its name to Guggenheim Investments as part of a broad effort to target financial advisers and institutional clients. ... read full story
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News Corp share buyback crosses $1 billion mark (Reuters)

September 20, 2011 in Asia Pacific Business News

photo, Sep. 20, 2011 (Reuters) -- Rupert Murdoch's News Corp <NWSA.O> bought back more than $1 billion of its shares in the last month, according to a filing, as it seeks to improve relations with shareholders frustrated by what they say is the media company's unpredictable capital allocation strategy. ... read full story


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Want to Earn a Buck? Short a Euro!

September 20, 2011 in Asia Pacific Business News

MarketWatch columnist David Weidner visits Mean Street and makes the argument that now may be the time to short the Euro. It could earn you some dollars. REUTERS/Jo Yong-Hak/Files


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Bits Blog: Google+ Opens Up to All Comers

September 20, 2011 in Asia Pacific Business News

Google opened its social network, Google+, to the public, and added new features to help it compete with Facebook.

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Power Tools Shift to Battery Power

September 20, 2011 in Asia Pacific Business News

With its entry into the battery-powered outdoor tool market, high-end maker Stihl is set to trigger the tipping point for the no gas, zero fumes product category. Stihl's Roger Phelps and arborist Mark Chisholm discuss on Lunch Break.


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Obama, Newly Combative, Draws Line Over Long-Term Debt Reduction

September 20, 2011 in Asia Pacific Business News

President Obama insisted that any long-term debt-reduction plan must not shave future Medicare benefits without also raising taxes on the wealthiest taxpayers and corporations.

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Greece vows to cut state jobs, second bail-out call looms (Reuters)

September 20, 2011 in Asia Pacific Business News

ATHENS, Sep. 20, 2011 (Reuters) -- Greece promised further cuts to its bloated public sector on Tuesday before a second conference call with its international lenders, whom Athens must convince to extend more loans to avoid bankruptcy next month. ... read full story
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Yum Brands serves up dim sum bond

September 20, 2011 in Asia Pacific Business News

US fast-food operator Yum Brands whets investors’ appetite with Rmb350 million dim sum bond, while Nissan Motors and Khazanah line up.


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FA poll: Global recession is here

September 20, 2011 in Asia Pacific Business News

Stock markets don't seem to agree yet, but our readers reckon the global economy is already in recession.


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China’s slowing growth is good news

September 20, 2011 in Asia Pacific Business News

Slower growth could be just what China's overheating economy needs, according to CLSA's Francis Cheung.


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Sany Heavy braves market with $3.3 billion share sale

September 20, 2011 in Asia Pacific Business News

Sany Heavy Industry has seen off competition from rival issuer XCMG for its $3.3 billion IPO, while shoemaker Hongguo raises $147 million after pricing its shares at the bottom end.


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TPK block called off after required filing not made

September 20, 2011 in Asia Pacific Business News

According to a term sheet, the largest shareholder in the Taiwanese touch-screen maker was aiming to raise at least $210 million by selling a quarter of its holding, but the deal was withdrawn after little more than one hour.
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Treasury appointments, September 20

September 20, 2011 in Asia Pacific Business News

A roundup of the latest CFO and treasurer moves from around the region.


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Mandates and payments roundup, September 20

September 20, 2011 in Asia Pacific Business News

BoA Merrill enhances its treasury management solution, while Bank Alfalah awards a card mandate to SunGard.


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J.P. Morgan makes two senior TSS appointments

September 20, 2011 in Asia Pacific Business News

J.P. Morgan hires a new head of liquidity for Asia-Pacific and a new Asean escrow product manager.


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Mobile payments go global with universal platform

September 20, 2011 in Asia Pacific Business News

The launch of a new platform opens up a $426 billion mobile payments market to financial institutions and firms globally.
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Ping An Bank opts for asset and liquidity management solution

September 20, 2011 in Asia Pacific Business News

A new Fiserv solution will provide the Chinese lender with bank-wide risk management capabilities.
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Investor Talked to Mets but Buys Part of Yankees

September 20, 2011 in Asia Pacific Business News

Ray Bartoszek, a finalist to buy a significant stake in the Mets this year, has instead emerged as the newest limited partner with the Yankees.

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Airbus Raises Its Forecast for Demand

September 20, 2011 in Asia Pacific Business News

The European plane maker cited expectations of increasing wealth in Asia and growth in low-cost airlines in the United States and Europe.

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Itineraries: More Amenities in Temporary Corporate Housing

September 20, 2011 in Asia Pacific Business News

Responding to customer demands, corporate housing companies have been adding high-end amenities while also riding the ups and downs of the economy.

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Stocks Slide as Greek Talks Drag On

September 20, 2011 in Asia Pacific Business News

Investors shed risky assets in the United States and Europe on Monday in a sign of increasing pessimism about Greece?s debt crisis.

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Media Decoder Blog: Qwikster Plan by Netflix Angers Devoted Customers

September 20, 2011 in Asia Pacific Business News

The company?s decision to split into two businesses has customers complaining that it is treating them badly.

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DealBook: Tyco to Split Itself in 3, Hoping for More Value

September 20, 2011 in Asia Pacific Business News

For the second time this decade, the once-sprawling empire will break itself up, transforming its ADT home alarm unit, its flow control group and its fire and security unit into three publicly traded businesses.

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China Shuts Solar Panel Factory After Antipollution Protests

September 20, 2011 in Asia Pacific Business News

Since last Thursday, the factory, JinkoSolar Holding Company, has drawn hundreds of protesters who blame the plant for fouling the local air and water.

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Fidelity adds index funds in search for new flows (Reuters)

September 19, 2011 in Asia Pacific Business News

photoBOSTON, Sep. 19, 2011 (Reuters) -- Fidelity Investments added five low-cost equity index funds to its lineup on Monday, its latest move to catch the thrifty, back-to-basics mood of investors. ... read full story


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Former Morgan Stanley Smith Barney broker leaves for Merrill (Reuters)

September 19, 2011 in Asia Pacific Business News

NEW YORK, Sep. 19, 2011 (Reuters) -- Bank of America Merrill Lynch <BAC.N> has recruited a former Morgan Stanley Smith Barney <MS.N> broker who brought in $1.8 million in revenue last year. ... read full story
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U.S. lawsuits may be limited over UBS rogue trades (Reuters)

September 19, 2011 in Asia Pacific Business News

photoNEW YORK, Sep. 19, 2011 (Reuters) -- UBS AG <UBS.N> is under pressure for failing to monitor an equity trader suspected of causing a $2.3 billion loss for the Swiss bank, but its exposure to U.S. class-action litigation over the scandal may be limited. ... read full story


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City Room: Wall Street Protests Continue, With at Least 6 Arrested

September 19, 2011 in Asia Pacific Business News

The anticorporate demonstrations, which began on Saturday, included nearly 200 people on Monday who gathered to denounce the economic system. They have been met by a strong police presence.

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DealBook: Examining the Charges Against a UBS Trader

September 19, 2011 in Asia Pacific Business News

If the trader, Kweku Adoboli, had been in the United States, he would had been charged under the bank fraud statute and would have faced a longer possible prison term.

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News Corp to Pay $4.7M in Phone-Hacking Scandal

September 19, 2011 in Asia Pacific Business News

On Mean Street, the latest on the agreement by News Corp (owner of the Wall Street Journal) to pay $4.7 million stemming from the News of the World phone-hacking scandal. Also, culture shock on the way at UBS? AFP PHOTOO / POOL / IAN NICHOLSON