May 5- Canadian auto parts maker Magna International Inc reported a higher-than-expected first-quarter profit and raised its full-year sales forecast for a second time, boosted by strong vehicle sales in North America and Europe. Net income from continuing operations attributable to Magna rose 8 percent to $492 million, or $1.22 per share, in the quarter... » Read More
NEW DELHI/ HONG KONG, Oct 31- Under-fire Chinese telecoms equipment vendor Huawei Technologies Co Ltd is reaching out to one of its sternest critics: a hacker who accused it of making shoddy products.
*Net income forecast Y765 bln loss vs prior Y50 bln profit. *To write off Y238 bln goodwill, Y356 bln restructuring.
HONG KONG, Oct 31- Hong Kong shares closed out a second-straight monthly gain on Wednesday, bouncing off a near two-week low after Industrial and Commercial Bank of China, the country's largest bank, posted third-quarter earnings that beat expectations.
*Barclays also under investigation on past U.S. power prices. LONDON, Oct 31- Beleaguered UK bank Barclays, already rocked by an interest rate rigging scandal, unveiled two new U.S. regulatory investigations into its financial probity and said third quarter profits fell by a fifth due to charges for the mis-selling of insurance.
PARIS, Oct 31- French oil company Total reported a 20 percent rise in third-quarter net adjusted profit to 3.348 billion euros on Wednesday, beating analysts' expectations thanks to a sharp increase in refining margins.
*Power outages, flooding hit U.S. East Coast after Sandy. SINGAPORE, Oct 31- Brent crude held steady near $109 a barrel on Wednesday after the huge storm Sandy whiplashed the U.S. East Coast, reducing fuel demand even as refineries in the region gradually resumed operations.
SINGAPORE, Oct 31- London copper climbed for a second session on Wednesday, pushing further away from two-month lows as risk appetite picked up, but the industrial metal is heading for its weakest month since May as demand growth from top consumer China slows.
TOKYO, Oct 31- Japanese government bonds slipped on Wednesday, reflecting continued disappointment over the Bank of Japan's easing measures and on positioning ahead of Thursday's 10- year sale. The Ministry of Finance will offer 2.3 trillion yen worth of 10- year notes on Thursday.
OSAKA, Japan, Oct 31- The European Central Bank must be mindful of the risks posed by assets held on its balance sheet, a senior member of the central bank said on Wednesday, as a plan to buy government debt could expose the central bank to financial losses.
HONG KONG, Oct 31- Mainland Chinese shares edged higher on Wednesday, buoyed by earnings-driven strength in the banking and retail sectors that helped benchmark indices trim October losses. The CSI300 Index of the top Shanghai and Shenzhen listings closed up 0.7 percent on Wednesday but down 1.7 percent in October at 2,254.8.
PARIS, Oct 31- European stock index futures signalled a mixed open on Wednesday as disappointing earnings from ArcelorMittal and Anheuser-Busch InBev rekindled worries over the outlook for corporate profits.
LONDON, Oct 31- Hong Kong was named the world's top financial centre for the second year running by the World Economic Forum, thanks to the strength of its business environment, infrastructure and a favourable tax regime. The United States, Britain, Singapore, Australia and Canada followed Hong Kong in the 2012 rankings.
*Net income f'cast Y765 bln loss vs prior Y50 bln profit. *Posts Y48.8 bln Q2 oper profit vs Y42 bln year ago.
*Hitachi, Komatsu up after maintaining outlook guidance. TOKYO, Oct 31- Japan's Nikkei share average advanced on Wednesday as investors took comfort that some firms, such as Hitachi Ltd and Komatsu Ltd, did not cut their full-year earnings guidance as feared.
Key currencies stayed in recent ranges on Wednesday, waiting for developments in Europe on efforts to solve the debt crisis and for the U.S. monthly jobs report on Friday as well as China's official manufacturing PMI on Thursday. Financial spreadbetters expect London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to open as much as 0.2 percent lower.
TOKYO, Oct 31- Panasonic Corp posted a 16 percent gain in second-quarter operating profit as it moves away from loss-making TVs in favour of batteries, household appliances and other businesses outside its struggling consumer electronics mainstay.
TOKYO, Oct 31- Japan's Nikkei share average advanced on Wednesday as investors took comfort that some firms, such as Hitachi Ltd and Komatsu Ltd, did not cut their full-year earnings guidance as feared. The Nikkei rose 1 percent to 8,928.29, and was up 0.7 percent this month, its third straight monthly gain. The broader Topix index climbed 1.2 percent to 742.33.
*Yuan posts strongest open just shy of trade limit. SHANGHAI, Oct 31- China's yuan opened just shy of its strong-side limit on Wednesady, posting its strongest ever open as demand for the currency rebounded after appearing to ease in the previous session.
*HSI +0.4 pct; CSI300 flat, Shanghai -0.2 pct. *HSI set for Oct gain, CSI300, Shanghai to post monthly loss. HONG KONG, Oct 31- Hong Kong shares bounced off a near two-week low, buoyed by strength in Chinese banks after the largest, Industrial and Commercial Bank of China, posted third-quarter earnings that beat expectations.
*Power outages, flooding hit U.S. East Coast after Sandy. SINGAPORE, Oct 31- Brent crude held steady near $109 a barrel on Wednesday after the huge storm Sandy whiplashed the U.S. East Coast, reducing fuel demand even as refineries in the region gradually resumed operation.