Business News


  • BRIEF - Moody's rates Harman International Industries Thursday, 11 Oct 2012 | 12:01 AM ET

    Oct 11- Moody's rates Harman International Industries senior unsecured bank credit facilities Baa3.

  • Ford touts 5 mpg edge of C-Max plug-in over Toyota Prius Thursday, 11 Oct 2012 | 12:01 AM ET

    DETROIT, Oct 11- Ford Motor Co, vying to challenge Toyota Motor Corp's dominance in the hybrid market, said on Thursday that its 2013 C-Max Energi plug-in hybrid gets 100 miles per gallon, beating the 2012 Prius by about 5 percent.

  • Home Depot, Target could see CDS reverse course Thursday, 11 Oct 2012 | 12:01 AM ET

    Oct 11- The CDS of big box retailers Home Depot and Target have tightened significantly in recent months, but have the potential to widen in the months ahead as consumer spending is expected to increase only moderately.

  • KUALA LUMPUR, Oct 11- Malaysia's industrial production. Last week the government reported a 4.5 percent drop in August exports, the biggest year-on-year decline in nearly three years, pulled down by lower shipments to the European Union and China.

  • EU countries risk sanctions over air traffic control Thursday, 11 Oct 2012 | 12:00 AM ET

    BRUSSELS, Oct 11- The creation of a unified European airspace is seriously off track, potentially requiring the European Union to use sanctions to force compliance from member states, European Commissioner for Transport Siim Kallas said in Cyprus on Thursday.

  • MUMBAI, Oct 11- Shares in India's Suzlon Energy. About $221 million in dollar convertible bonds issued by Suzlon are due on Thursday. Suzlon shares were down 4.2 percent at 0359 GMT, compared to a 0.16 percent fall in the NSE index.

  • Oct 11- Venture capital firm Panorama Capital and others have invested $10 million in video technology company Skyfire, which plans to expand into European and Asian markets on the back of surging usage of video on wireless devices.

  • Italy - Factors to watch on Oct 11 Thursday, 11 Oct 2012 | 12:00 AM ET

    Moody's has Spain on review for a possible downgrade. Italy's government expects to raise at least 1 billion euros from the financial transaction Rome aims to introduce starting from the beginning of next year, daily Il Corriere della Sera said on Thursday.

  • TABLE-Bangladesh key economic indicators - Oct 11 Wednesday, 10 Oct 2012 | 11:47 PM ET

    DAILY INDICATORS Wednesday Previous Taka/US$ 81.25-81.305 81.30-81.34. Call money rate 08.00-08.50 07.50-09.50.

  • SHANGHAI, Oct 11- China's average daily crude steel output fell to 1.843 million tonnes between Sept 21-30, down 0.74 percent from the preceding 10 days, data from the China Iron& Steel Association showed on Thursday.

  • Oct 11- Moody's Investors Service has assigned a Ba3 senior unsecured rating to Longfor Properties Company Limited's proposed bond issuance.

  • MUMBAI, Oct 11- Nomura downgraded Bharat Heavy Electricals Ltd to' reduce' from' neutral', saying a revival of new orders was "unlikely" and lower-than-expected coal supply could lead to order cancellations. Rising competition and falling utilisation could also impact margins, Nomura added.

  • SINGAPORE, October 11 Fitch Ratings says Singapore- based First Ship Lease Trust's rating is not affected by a restructuring agreement of one of its lessees, Denmark- based TORM A/S, with its banks and tonnage providers. FSLT is rated Long-Term Issuer Default' B+' with Negative Outlook.

  • By Samuel Shen and Fayen Wong. SHANGHAI, Oct 11- Two Chinese fund houses have launched funds focused on the domestic commodities futures market as they look to tap into the burgeoning market that regulators have cautiously opened to local financial institutions this year.

  • STOCKS NEWS INDONESIA-Pelayaran Nelly soars on debut Wednesday, 10 Oct 2012 | 11:40 PM ET

    Shares in Indonesian shipping firm PT Pelayaran Nelly Dwi Putri Tbk gained as much as 45.8 percent after its trading debut on Thursday. Pelayaran Nelly was the seventeenth company to list on the Indonesian stock exchange this year. Its IPO, which aimed to raise 58.5 billion rupiah, was priced at 168 rupiah a share.

  • KUALA LUMPUR, Oct 11- The global economic doldrums may have weighed on businesses around the world, but in Malaysia a luxury hand-crafted carmaker struggles to keep up with demand as orders pour in from China and the Middle East.

  • REFILE-Beauty treatment kills Hong Kong woman, three ill Wednesday, 10 Oct 2012 | 11:38 PM ET

    *Experts call for beauty industry to be regulated By Tan Ee Lyn. HONG KONG, Oct 11- A 46- year-old woman has died in Hong Kong and three others are fighting for their lives following a beauty parlour treatment that involves blood transfusion, highlighting a lack of regulation in the city's cosmetic industry.

  • S.Korea's SK Energy to delay CDU No.2 shutdown to 2013 Wednesday, 10 Oct 2012 | 11:37 PM ET

    SEOUL, Oct 11- South Korea's largest refiner, SK Energy, will delay a maintenance shutdown at its No.2 crude distillation unit to next year from the originally planned dates starting this month, a spokesman at parent company SK Innovation said.

  • Brent crude rises toward $115 as Mideast tensions support Wednesday, 10 Oct 2012 | 11:31 PM ET

    *Turkey, Syria fighting continues; Mideast tensions support oil. November Brent crude rose 52 cents to $114.85 a barrel by 0319 GMT after a volatile session on Wednesday that saw the contract rising to $115.59, its highest since Sept. 17, before settling down slightly.

  • SEOUL, Oct 11- South Korea's central bank cut interest rates for the second time in four months on Thursday, as expected, in a bid to boost demand so as to help Asia's fourth-largest economy through a global slowdown. The Bank of Korea's monetary policy committee cut its base rate by 25 basis points to 2.75 percent, a media official said without elaborating.