Business News


  • *Problem affects clients using London data feed. The problem was affecting clients using a data feed from London, it said. Problems with the connection between Johannesburg and London have plagued the JSE in recent years, sparking system glitches that have forced the bourse to halt trading several times.

  • LONDON, Oct 9- British factory output fell more than expected in August and the country's trade deficit widened sharply, data showed on Tuesday, dampening prospects of a sustained recovery in the second half of 2012.. ANALYST VIEWS BRIAN HILLIARD, SOCIETE GENERALE:.

  • Kenyan shilling steady vs dollar ahead of tea sale Tuesday, 9 Oct 2012 | 4:41 AM ET

    NAIROBI, Oct 9- The Kenyan shilling. But we expect inflows from the tea sector later today and tomorrow to help the shilling, "said Dickson Magecha, a trader at Standard Chartered Bank. The average price of top grade tea firmed for the third week in a row to $4.20 per kg at auction last week, up from $4.15 per kg previously.

  • ISTANBUL, Oct 9- Turkey's economy is expected to grow 3.2 percent this year, below a previous forecast of 4 percent, before growing 4 percent next year, Deputy Prime Minister Ali Babacan said on Tuesday. COMMENTARY TIMOTHY ASH, HEAD OF EM, STANDARD BANK.

  • BUDAPEST, Oct 9- Emerging European currencies were mostly flat on Tuesday with markets digesting weaker global growth forecasts from the IMF and Czech inflation data which met expectations.

  • RESEARCH ALERT-Panmure raises Asos price target Tuesday, 9 Oct 2012 | 4:40 AM ET

    *Panmure raises Asos price target to 2530 p from 2378 p; rating buy. For a summary of rating actions and price target changes on European companies:. Reuters Station users, click. 1580.

  • LONDON, Oct 9- Sterling fell to a fresh one-month low against the dollar on Tuesday while UK stocks fell after data showed UK manufacturing output fell more than expected and a bigger-than-forecast trade deficit. The UK's FTSE 100 extended falls to trade down 0.3 percent at 5,824.82 points, having traded down 0.2 percent ahead of the release.

  • ISTANBUL, Oct 9- The Turkish government announced its 2012-2015 Medium Term Programme on Tuesday, which forecasts gross domestic product growth of 3.2 percent this year and 4 percent in 2013..

  • Kenya's cbank seek to mop up $100 mln via repos Tuesday, 9 Oct 2012 | 4:39 AM ET

    NAIROBI, Oct 9- Kenya's central bank sought on Tuesday to mop up 8.5 billion shillings in excess liquidity using repurchase agreements, the bank said.

  • BEIJING, Oct 9- China's annual economic growth probably slowed for a seventh straight quarter in the July-September period to the weakest level since the depths of the global financial crisis, a Reuters poll showed, reinforcing the case for further policy stimulus.

  • By Emma Thomasson ZURICH, Oct 9- Swiss private bank Julius Baer. Baer said it planned a "significant reduction" of Bank of America positions not required after the merger as well as cuts to middle and back office functions of the melded group, reducing the combined staff of about 5,700 by 15-18 percent.

  • LONDON, Oct 9- The Bank of England's funding for lending scheme makes it easier for banks to push cash into the UK economy. -Citigroup expects issuance of bonds backed by prime mortgages to fall to 8 billion pounds in 2013 as a result of the Bank of England's funding for lending scheme.

  • *ING effectively pays Barclays to take UK business. LONDON, Oct 9- Barclays' new chief executive showed off his determination to put retail banking at the heart of his strategy with his first deal, adding 1.5 million customers by taking over the UK savings and loan business of Dutch bank ING.

  • Banking union proving thorny issue for EU Tuesday, 9 Oct 2012 | 4:33 AM ET

    LUXEMBOURG-- European Union finance ministers grappled Tuesday with how to support their struggling banks and ensure that failing financial institutions don't have the power to drag down entire countries with them.

  • Japan's Showa Shell sees Q4 crude refining flat y/y Tuesday, 9 Oct 2012 | 4:33 AM ET

    TOKYO, Oct 9- Showa Shell Sekiyu KK, Japan's fifth-largest oil refiner, said on Tuesday it expects to refine 7.8 million kilolitres of crude oil in the October-December quarter, unchanged from a year earlier.

  • The National Broadcasting and Telecommunications Commission will hold the much-delayed auction on Oct. 16. Market leader Advanced Info Service, 21 percent owned by Singapore Telecommunications Ltd, will bid through wholly owned unit Advanced Wireless Network Co. Ltd..

  • gains 6.6 percent on rising hopes the Indian spirits maker controlled by billionaire Vijay Mallya will clinch a deal to sell a stake to Diageo Plc.

  • Oct 9- Malaysia's factory output probably fell for the first time in 13 months in August because of weak demand for its top exports of commodities and electronics, analysts polled by Reuters said, warning that the global trade slowdown could get worse.

  • Oct 9,- Italy's economy contracted by 0.8 percent in the second quarter from the first, and gross domestic product was down 2.6 percent year-on-year, national statistics institute ISTAT said on Tuesday, confirming its previous estimate. The latest release was to take account of a re-calculation of full year GDP data for 2009-2011 which was published on Oct. 4.

  • TABLE-UK industrial output falls in August Tuesday, 9 Oct 2012 | 4:29 AM ET

    LONDON, Oct 9- The Office for National Statistics released the following provisional data on British industrial production on Tuesday. MANUFACTURING OUTPUT AUG JULY FCAST. Mth-on-mth change in pct -1.1 3.1 -0.6.