Business News


  • SINGAPORE, Oct 12- Singapore defied expectations by sticking to its tight monetary policy stance on Friday, warning of persistent inflation pressure as data showed a quarterly contraction in the economy but a narrow escape from recession due to a revision in the April-June period.

  • BRIEF-Era Group names new CFO Thursday, 11 Oct 2012 | 8:31 PM ET

    Oct 11- Era Group Inc:. *Announces appointment of Christopher Bradshaw as chief financial officer, and. formation of senior management team.

  • NOTE: Reuters has not verified this story and does not vouch for its accuracy.

  • Philippines - Market factors to watch on Oct 12 Thursday, 11 Oct 2012 | 8:30 PM ET

    -Berjaya Philippines Inc holds regular stockholders' meeting, Berjaya Manila Hotel, Eduque Street, Makati City, 9:00 a.m.. EVP and Zone Asia-Oceania-Africa managing director, and John Martin Miller, Nestlé Philippines chairman and CEO, Nestle Centre, Rockwell, Makati City, 2:00 p.m.. STOCKS TO WATCH- AYALA CORP.

  • Warwick, Seagal among those who owe Calif. taxes Thursday, 11 Oct 2012 | 8:27 PM ET

    SACRAMENTO, Calif.-- Two celebrities are on a notable list in California, but it's not exactly the A-list. It says Warwick, who now lives in New Jersey, owes California $2.6 million. Technology entrepreneur Halsey Minor, of San Rafael, owes the most to the state _ $10.7 million.

  • LOS ANGELES, Oct 11- The retired space shuttle Endeavour was getting set on Thursday for a road trip unlike any of its previous journeys, one that will see it crawl through the streets of Los Angeles instead of hurtling through the solitary reaches of space.

  • SEOUL, Oct 12- South Korea's main KOSPI share index was flat at 1,934.07 points as of 0020 GMT. The index opened up 0.25 percent. The shares of Woongjin Holdings tumbled to the daily permissible drop of 15 pct on its first day back in trading following a court decision to protect the firm and its core unit from bankruptcy on Thursday.

  • Therapy, exercise aid chemo-related menopause Thursday, 11 Oct 2012 | 8:24 PM ET

    Oct 12- Younger women who are thrust into menopause because of breast cancer treatment may get some relief from talk therapy and regular exercise, according to a study from the Netherlands.

  • MANILA, Oct 12- Philippine conglomerate Ayala Corp confirmed on Friday it had bought part of the stake of Singapore's DBS Group in its banking arm for 25.6 billion pesos, raising its interest to more than 40 percent. DBS's stake in the Bank of Philippine Islands falls to 9.9 percent after the sale of a 10.4 percent holding to partner Ayala Corp..

  • TOKYO, Oct 12- Japan's Softbank Corp said on Friday it is in talks with Sprint Nextel Corp about investing in the U.S. telecoms firm, but nothing has been decided.

  • Nikkei rebounds from 2-month low, Fast Retailing slumps Thursday, 11 Oct 2012 | 8:20 PM ET

    TOKYO, Oct 12- Japan's Nikkei average rebounded in early trade on Friday from its lowest close in more than two months, but gains were capped by a 9 percent slide in index heavyweight Fast Retailing. The Nikkei added 0.1 percent to 8,555.45, while the broader Topix. advanced 0.7 percent to 718.66.

  • Softbank shares untraded with glut of sell orders Thursday, 11 Oct 2012 | 8:19 PM ET

    TOKYO, Oct 12- Shares of Softbank Corp were untraded with a glut of sell orders on Friday after Sprint Nextel said it was in talks with the Japanese firm on a "potential substantial investment" that could involve a change in control of the U.S. firm.

  • TOKYO, Oct 12- Shares of Fast Retailing Co Ltd. shed 10 percent to 16,020 yen, hitting a two-month low, after its full-year operating profit came in below market expectations. Investors were also disappointed with its earnings guidance for this business year ending August 2013.

  • *Deutsche Bank gives Billabong fundamental valuation of 85 cents a share. SYDNEY, Oct 12- Private equity firm TPG has withdrawn its A $694 million takeover bid for Australian surfwear retailer Billabong International Ltd, a week after raising concerns while inspecting the books.

  • Billabong shares hit record low after TPG drops bid Thursday, 11 Oct 2012 | 8:10 PM ET

    SYDNEY, Oct 12- Shares in Australian surfwear retailer Billabong hit a record low after private equity firm TPG walked away from a A $694 million bid. The shares were trading down around 15 percent at 85.5 cents by 0002 GMT after falling as low as 82 cents in early trade. The broader market was a touch higher.

  • KOSPI ticks up, boosted by Samsung Elec Thursday, 11 Oct 2012 | 8:09 PM ET

    SEOUL, Oct 12- South Korean shares edged up on Friday after Samsung Electronics won an appeal against a ban against sales of its smartphones in the U.S. Shares in Samsung Electronics were trading 0.3 percent higher, boosting the index. Keywords: MARKETS KOREA STOCKS/ URGENT.

  • By David Morgan and Tim McLaughlin. WASHINGTON/ BOSTON Oct 11- The pharmacy at the center of a deadly U.S. meningitis outbreak possibly linked to tainted steroid injections faced mounting federal and state scrutiny on Thursday, including a potential criminal probe, as the national death toll climbed to 14..

  • SINGAPORE, Oct 12- Singapore's central bank unexpectedly kept monetary policy on hold on Friday, saying it will continue letting the Singapore dollar appreciate at its current pace as inflation remained a worry.

  • *Singapore avoids recession with Q2 q/q revision. SINGAPORE, Oct 12- Singapore's Ministry of Trade and Industry released economic estimates for the third quarter of 2012 on Friday:. -Singapore avoided becoming the first major Asian economy to slip into a technical recession this year as second quarter GDP was revised to show a slight expansion.

  • NEW YORK/ HOUSTON, Oct 11- Oil major BP Plc has secured U.S. government permission to ship U.S. crude oil to Canada, and Royal Dutch Shell has applied for an export license, as rising production in the world's top oil consumer upends global energy flows.