Source Match Investment News
Texas joins flood of states suing BP over 2010 Gulf spill
French probe finds LVMH built up Hermes stake in secret - paper
PARIS (Reuters) - The French stock market authority has found
LVMH secretly bought shares in rival Hermes to build a stake, and
not merely make a financial investment as the luxury group has
claimed, a newspaper reported. LVMH said it would fight the
findings of the watchdog's probe before its sanctions committee
when it meets on May 31 to hear the company's defence. Hermes was
not immediately available for comment. LVMH, which owns 22. ...
Germany's Merkel visits Pope, urges tougher market controls
By James Mackenzie VATICAN CITY (Reuters) - German Chancellor
Angela Merkel met Pope Francis on Saturday and, apparently
responding to his criticism of a heartless "dictatorship of the
economy", called for stronger regulation of financial markets. On
Thursday, Francis appealed in a speech for world financial reform,
saying the global economic crisis had made life worse for millions
in rich and poor countries. Merkel visited Rome for a few hours
specifically to meet the pontiff and spoke with him privately in
his library for 45 minutes, unusually long for a private papal
audience. ...
Bernanke upbeat on innovation outlook in commencement address
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke
painted an upbeat picture on Saturday for the potential of
innovation to lift living standards, delivering a sweeping look at
the last 100 years that included memories of his 1963 South
Carolina home. Bernanke made no reference to monetary policy or the
immediate outlook for the U.S. economy in prepared remarks to
graduates of Bard College at Simon's Rock, Massachusetts. But the
die-hard baseball fan did manage to work in a reference to one of
the sport's greats. ...
Markets Weekahead - Sensex risks consolidation; SBI earnings
Reuters Market Eye - The BSE Sensex runs the risk of some
consolidation after indexes ended at their highest close since
November 2010 on Friday. Earnings will be key, with Coal India Ltd
, State Bank of India Ltd and Jet Airways Ltd set to report next
week. Investors will also be eyeing whether strong foreign buying
continues. Overseas investors were net buyers for 21 consecutive
sessions as of Thursday, bringing their net purchases for the year
to about $13 billion, according to regulatory data. ...
Polish conservative opposition leads opinion poll
WARSAW (Reuters) - Poland's opposition Law and Justice (PiS)
party has overtaken the ruling Civic Platform in an opinion poll
released on Saturday, showing the government may be increasingly
vulnerable to the economic downturn. The center-right Civic
Platform, led by Prime Minister Donald Tusk won 40 percent of the
vote at the 2011 election, but its support was down to 23 percent
in the survey carried out by CBOS, one of Poland's biggest polling
organizations. ...
Wall Street Week Ahead: Correction talk gets old as rally sails along
By Angela Moon NEW YORK (Reuters) - With the broad S&P 500
Index gliding once again into uncharted territory and posting four
straight weeks of gains, the talk of Wall Street's rally inevitably
hitting a ceiling is starting to get old. Concerns about a
technical correction have been a hot topic for weeks, especially as
the rally accelerated in May - the S&P 500 is up 4.4 percent so
far this month and up nearly 17 percent for the year. But as the
three major U.S. stock indexes inch higher and higher to set record
after record, many analysts are shrugging off the pullback worries.
...
China April housing inflation quickens to two year high
By Xiaoyi Shao and Michael Martina BEIJING (Reuters) - China's
housing inflation accelerated to its fastest pace in April in two
years, driven by a jump in prices in Beijing and Shanghai,
complicating the task of policymakers trying to cool the property
sector while supporting economic expansion. Average new home prices
rose 4.9 percent last month from a year ago, after a year-on-year
increase of 3.6 percent in March, according to Reuters calculations
from data released by the National Bureau of Statistics(NBS) on
Saturday. The rise was the sharpest since April 2011. ...
Exclusive: EU cites Chinese telecoms Huawei and ZTE for trade violations
By Daniel Bases NEW YORK (Reuters) - Europe's top trade
official for the first time late on Friday officially cited Chinese
mobile telecommunications equipment makers Huawei and ZTE Corp for
violating anti-dumping and anti-subsidy guidelines. European Union
Trade Commissioner Karel De Gucht said he was prepared to launch a
formal investigation into anti-competitive behavior by these
Chinese companies in order to protect a "strategic" sector of
Europe's economy. ...
Tata Tele (Maharashtra) share sale cancelled
NYSE cancels irregular trades in Anadarko stock: Bloomberg
Dow, S&P end at records, stocks mark 4th week of gains
By Leah Schnurr NEW YORK (Reuters) - U.S. stocks continued
their climb into uncharted territory on Friday, racking up the
fourth week of gains in a row as encouraging economic data prompted
investors to pick up shares of growth companies. The Dow and the
S&P 500 finished at fresh record highs, driven by gains in
energy and industrial shares. The indexes have pushed to a series
of never-before-seen levels as part of the rally that has lifted
equities more than 16 percent for the year so far. ...
After tough week, Obama tries to change the subject to jobs
By Roberta Rampton and Mark Felsenthal BALTIMORE (Reuters) -
President Barack Obama on Friday sought to turn the spotlight from
controversies threatening to swamp his agenda back to his top
priority - the economy - and announced he will try to cut in half
the time it takes to get federal approval for large job-creating
projects. Obama traveled to Baltimore, a short helicopter ride from
the White House, to talk about steps he is taking to streamline
permits for infrastructure, early childhood education, and positive
signs in the economy. ...
Dow, S&P end at records, stocks mark fourth week of gains
By Leah Schnurr NEW YORK (Reuters) - Stocks continued their
climb into uncharted territory on Friday, racking up the fourth
week of gains in a row as encouraging economic data prompted
investors to pick up shares of growth companies. The Dow and the
S&P 500 finished at fresh record highs, driven by gains in
energy and industrial shares. The indexes have pushed to a series
of never-before-seen levels as part of the rally that has lifted
equities more than 16 percent for the year so far. ...
Dow, S&P end at records, stocks mark fourth week of gains
By Leah Schnurr NEW YORK (Reuters) - Stocks continued their
climb into uncharted territory on Friday, racking up the fourth
week of gains in a row as encouraging economic data prompted
investors to pick up shares of growth companies. The Dow and the
S&P 500 finished at fresh record highs, driven by gains in
energy and industrial shares. The indexes have pushed to a series
of never-before-seen levels as part of the rally that has lifted
equities more than 16 percent for the year so far. ...
Kerry to attend Syria talks on May 22, visit Mideast, Africa
TSX rises as gold miners lone sore spot
By Alastair Sharp TORONTO (Reuters) - Canada's main stock index
rose on Friday as robust economic data helped drive gains in energy
stocks and financial shares, offsetting weakness in gold producers.
The materials sector, a major component of the S&P/TSX
composite which includes gold miners, was the lone sector to finish
in the red of ten main sectors, as the price of gold fell for a
seventh straight session. That weakness in gold came after some
Federal Reserve officials said the U.S. ...
Bill clears House for wider SEC economic analyses
Mexico cuts growth outlook from 3.5 to 3.1 percent
House votes for more scrutiny of economic impact of SEC rules
Brazil approves law to modernize ports
Fed has not lowered interest rates enough: Kocherlakota
By Ann Saphir CHICAGO (Reuters) - The Federal Reserve has not
done enough to lower U.S. borrowing costs to boost economic growth,
a top Fed official said on Friday, citing his outlook for overly
low inflation and overly high unemployment over the next two to
three years. Since the Great Recession, workers and businesses are
seeking safer assets, even as the supply of assets perceived as
safe dwindles, Minneapolis Fed President Narayana Kocherlakota told
a group convened by the University of Chicago Booth School of
Business. ...