TOKYO (AP) — Sony Corp. needs more time to study a key proposal from a U.S. hedge fund to spin off a part of its entertainment unit as a way to propel its fledgling revival, the chief executive told shareholders Thursday.
Posted on 20 June 2013 | 6:50 am
By Huw Jones and Matt Scuffham LONDON (Reuters) - Lloyds Banking Group must plug a capital shortfall of 8.6 billion pounds ($13.5 billion), Britain's banking regulator said on Thursday, a day after the government signaled plans to return the part-state owned lender to the private sector. Britain is trying to restore confidence in a banking sector that had to be shored up by taxpayers during the 2007-09 financial crisis. Apart from the large minority stake in Lloyds, it also owns 81 percent of Royal Bank of Scotland . ...
Posted on 20 June 2013 | 6:45 am
By Olesya Dmitracova and David Milliken LONDON (Reuters) - British retail sales bounced back much more than expected in May, adding to evidence of accelerating economic growth in the second quarter and easing some of the pressure on the central bank to boost the economy. The Office for National Statistics said on Thursday sales volumes grew 2.1 percent on the month, after posting the sharpest fall in a year in April. May's rise was the biggest since February. Compared with a year earlier, sales rose 1.9 percent, again the fastest increase since February. ...
Posted on 20 June 2013 | 6:42 am
Posted on 20 June 2013 | 6:28 am
By Jonathan Cable LONDON (Reuters) - Factory output in China, the world's second largest economy, weakened to a nine-month low in June, combining with a continued recession in the euro zone to threaten a global recovery led by the United States. A day after the Federal Reserve suggested the U.S. economy was firmly on a recovery path - enough so to withdraw some monetary stimulus - data showed China's economy was stuttering. Faltering demand pushed the flash China HSBC Purchasing Managers Index (PMI) down to 48.3 in June from 49. ...
Posted on 20 June 2013 | 6:26 am
LONDON (Reuters) - More than 1,000 creditors of the European operations of failed U.S. investment bank Lehman Brothers will share a 3.5 billion pound ($5.5 billion) payout next week, its administrators said on Thursday. The payout means the recovery so far for creditors from one of the banking collapses at the heart of the 2008 financial crisis is 68.5 cents in the dollar. PricewaterhouseCoopers, joint administrators for Lehman Brothers International (Europe), said a dividend of 43.3 percent of what creditors were owed - the second so far - would be paid on June 28. ...
Posted on 20 June 2013 | 5:57 am
Posted on 20 June 2013 | 5:45 am
LONDON (AP) — Markets were roiled Thursday by a suggestion from U.S. Federal Reserve chairman Ben Bernanke that the central bank may be done with its monetary stimulus next year. While stocks and commodities took a pounding on the news, the dollar surged.
Posted on 20 June 2013 | 5:42 am
PARIS (Reuters) - Airbus said it won orders and commitments at the Paris Airshow for 466 aircraft worth a total of $68.7 billion based on list prices. The deals signed at the air show include firm purchase orders for 241 planes worth $39.3 billion, Airbus said on Thursday at a news conference at the show. The planemaker added that its latest A350 model had successfully completed its second flight on Wednesday and would fly past the air show. (Reporting by Maria Sheahan; Editing by James Regan)
Posted on 20 June 2013 | 5:38 am
By Richard Hubbard LONDON (Reuters) - The U.S. Federal Reserve's explicit signal it will stop pumping money into the world economy and data showing China's economy slowing down swept across financial markets on Thursday, sinking bonds, shares and commodities alike. Emerging markets, many of which have been primed by easy Fed money, saw some of the biggest selling as investors rushed to the exits. MSCI's benchmark index for emerging equities slumped by more than 3 percent and shares across the Asian Pacific region outside Japan recorded their biggest one day drop since late 2011. ...
Posted on 20 June 2013 | 5:33 am