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Peter Chatwell, interest rate startegist at Credit Agricole Corporate and Investment Bank, explains why he expects bond yields to remain lower in Europe than in the U.S.
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GENEVA, May 20- Leaders of the multibillion-dollar global business aviation industry see signs of recovery from four years of recession, they said on Monday, but they appealed to governments to ease the way ahead by cutting taxes and red tape.
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NEW YORK, May 20- Freeport-McMoRan Copper& Gold Inc took a big step on Monday in its plan to expand into energy, when Plains Exploration& Production Co shareholders approved the miner's $6 billion takeover deal, sweetened by two special dividends.
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CNBC's Sharon Epperson takes a look factors that contributed to the major reversal in precious metals on Monday and what sent oil prices to a 7-week high. She also discusses events in the the coming days that could impact the price action in energy and metals.
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*Myanmar president in first visit to Washington. *Washington wants to foster ally on China's border. WASHINGTON, May 20- President Barack Obama will walk a fine line between fostering a U.S. ally in China's backyard and trying to defend human rights on Monday when the president of Myanmar becomes the first head of his country to visit the White House in 47 years.
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*Pactera expects to form special committee to assess offer. *Pactera shares up 30 percent. May 20- Pactera Technology International Ltd said on Monday that Blackstone Group LP, together with the company's management, made a $680.3 million non-binding proposal to take China's largest technology outsourcing firm private.
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LONDON, May 20- Copper rose to its highest in almost a week on Monday, helped by a weaker U.S. dollar and shrinking inventories of the metal in Asia, but concerns about sluggish Chinese growth capped gains. Copper has rebounded from 18- month lows earlier this month below $6,800 a tonne but is still 13 percent off its 2013 high hit in February.
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Solar stocks rose Monday after Chinese panel maker JA Solar announced a rare rise in revenue and quarterly loss far smaller than expected. JA Solar Holdings Co. Ltd., based in Shanghai, announced Monday that revenue in the first quarter rose compared with a year earlier for the first time since June of 2011, and that its loss narrowed.
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HOUSTON-- Hercules Offshore Inc. said Monday that it will sell the bulk of its inland barge rigs as part of the oil and gas drilling company's shift to focus on more profitable parts of its business. The Houston- based company said it will sell 11 inland barge rigs, three of which are active, for $45 million.
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*Japan's reflationary policy helps domestic demand. TOKYO, May 20- Nippon Steel and Sumitomo Metal Corp expects its domestic crude steel output to rise 2 percent in the April-June quarter, as Japan's reflationary policy drives the yen lower and makes the country's goods more competitive.
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LONDON, May 20- Copper turned slightly positive in volatile trading on Monday, helped by a weaker U.S. dollar and shrinking inventories of the metal in Asia, but concerns about sluggish Chinese growth capped gains. Copper has rebounded from 18- month lows earlier this month below $6,800 a tonne but is still 13 percent off the 2013 high hit in February. "
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HONG KONG, May 20- Goldman Sachs Group Inc launched the sale of about $1.1 billion worth of Hong Kong- traded shares in Industrial and Commercial Bank of China on Monday, offering its entire remaining stake in the world's biggest bank by market value. The sale would be the final chapter in Goldman's investment alongside clients and employees in China's ICBC.
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NEW DELHI- India and China will study new ways to ease tensions along their ill-defined border, Chinese Premier Li Keqiang said on Monday in his first foreign trip since taking office, which comes just weeks after a military stand-off between the Asian giants in the Himalayas.
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LONDON, May 20- Petroleum coke piled up along the banks of the Detroit River has sparked a storm of protest from local residents and environmental campaigners, who claim they are just one more problem associated with the bituminous tar sands being mined in western Canada.
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*Yahoo's board approves $1.1 bln Tumblr acquisition. *Actavis to acquire Warner Chilcott in stock-for-stock deal. Deals including Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions despite record highs, a bullish sign for stocks.
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*Yahoo's board approves $1.1 bln Tumblr acquisition- WSJ. *Actavis to acquire Warner Chilcott in stock-for-stock deal. *Acquisitions including Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions despite record highs, a bullish sign for the market.
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Hackers working for China's army appear to have resumed their attacks on U.S. companies. The NYT reports.
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*Myanmar president in first visit to Washington. *Washington wants to foster ally on China's border. WASHINGTON, May 20- President Barack Obama will walk a fine line between fostering a U.S. ally in China's backyard and trying to defend human rights when the president of Myanmar becomes the first head of his country to visit the White House in 47 years on Monday.
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NEW DELHI, May 20- India and China will study new ways to ease tensions along their ill-defined border, Chinese Premier Li Keqiang said on Monday in his first foreign trip since taking office, which comes just weeks after a military stand-off between the Asian giants in the Himalayas.
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*Investors eye China, Europe flash PMIs on Thursday. LONDON, May 20- Copper fell on Monday after two sessions of gains as lacklustre global growth and sluggish Chinese metals demand weighed on markets and as investors continued to favour equities over commodities.
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A cheaper Chinese smartphone maker is gaining a cult-like following in China, reports CNBC's Eunice Yoon.