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Updated: 16 hours 17 min ago

Novartis loses new bid to dismiss U.S. lawsuit over kickbacks

Fri, 08/08/2014 - 02:48
NEW YORK (Reuters) - A Manhattan federal judge on Thursday said the U.S. Department of Justice may pursue most of its lawsuit accusing Novartis AG of civil fraud for allegedly using kickbacks to boost sales of drugs covered by Medicare and Medicaid.

Low temperature a factor in Boeing 787 battery meltdown in Japan - Asahi

Fri, 08/08/2014 - 02:22
TOKYO (Reuters) - (This Aug 5 story has been corrected to delete incorrect reference in paragraph 4 to the battery being located in an unpressurised, unheated part of the plane.)

Exclusive - Tango secondary financing values company at around $1.5 billion

Fri, 08/08/2014 - 01:48
SAN FRANCISCO (Reuters) - Tango, the mobile messaging company, is arranging a financing transaction that would value its business at around $1.5 billion (891.33 million), roughly one-third more than the valuation it received just five months ago, according to three people familiar with the situation.

Japan current account swings to deficit as overseas earnings fall

Fri, 08/08/2014 - 01:33
TOKYO (Reuters) - Japan's current account swung to a deficit in June for the first time in five months due to a slump in earnings from overseas investments, but exports accelerated in an encouraging sign that external demand is improving.

Argentina bonds, stocks firm on possible deal to exit default

Fri, 08/08/2014 - 00:24
BUENOS AIRES (Reuters) - Argentine bond prices and stocks firmed on Thursday, with news that international banks may be close to a deal to buy debt from holdout creditors that would resolve its debt crisis.

ECB set to hold fire on rates, eyes risks from Ukraine conflict

Thu, 07/08/2014 - 07:50
FRANKFURT (Reuters) - The European Central Bank is set to hold fire on rates on Thursday as it waits for earlier stimulus measures to gain traction, while keeping an eye on emerging risks from the conflict in Ukraine.

Deutsche Telekom second quarter profit beats forecasts on U.S. growth

Thu, 07/08/2014 - 07:49
FRANKFURT (Reuters) - Deutsche Telekom reported a bigger than expected quarterly core profit on Thursday after a rise in earnings in the United States offset heavy investments in its German networks.

Weak German industry output adds to signs of second quarter slowdown

Thu, 07/08/2014 - 07:46
BERLIN (Reuters) - German industrial output rose just 0.3 percent on the month in June, missing a forecast rise of 1.3 percent, as fears over the crisis in Ukraine weighed, adding to signals that Europe's largest economy may have stalled in the second quarter.

Rio Tinto first half profit jumps 21 percent, beats forecasts

Thu, 07/08/2014 - 07:43
MELBOURNE (Reuters) - Anglo-Australian miner Rio Tinto reported a 21 percent rise in first-half profit on Thursday, beating market forecasts as it slashed capital spending and cut costs faster than expected while ramping up iron ore output.

Strong pound weighs on engineering firm Amec's profit

Thu, 07/08/2014 - 07:28
(Reuters) - British engineering and project management firm Amec Plc reported a 30 percent fall in first-half pretax profit, as a strong pound overshadowed an increase in orders.

Exclusive - Japan's GPIF to boost stock allocation to over 20 percent: sources

Thu, 07/08/2014 - 07:08
TOKYO (Reuters) - Japan's public pension fund, the world's largest at around $1.24 trillion (736 billion pounds), plans to boost the weighting of domestic stocks to more than 20 percent from a current 12 percent target, two people with knowledge of the allocation review said on Thursday.

Aviva posts 4 percent rise in first half profit, helped by Europe, UK general insurance

Thu, 07/08/2014 - 07:02
LONDON (Reuters) - British insurer Aviva posted a 4 percent rise in first-half operating profit as its European and UK general insurance businesses built on a strong start to the year, making up for weakness in Canada.

Commerzbank speeds up clean-up, second quarter net profit doubles

Thu, 07/08/2014 - 06:56
FRANKFURT (Reuters) - Commerzbank , Germany's second biggest lender, accelerated the clean up of unwanted assets and posted an increase in second-quarter earnings due in part to a fall off in bad loans.

Asia stocks slip, bonds firm on Ukraine tensions

Thu, 07/08/2014 - 06:48
TOKYO (Reuters) - Asian shares retreated while investors flocked to safe haven assets such as bonds and gold on Thursday, spooked by a Russian troop build-up on the border with Ukraine and tit-for-tat economic sanctions between the West and Moscow.

Nestle confirms outlook, launches 8 billion Swiss francs buyback

Thu, 07/08/2014 - 06:35
ZURICH (Reuters) - Food group Nestle stood by its full-year outlook on Thursday and said it would launch an 8 billion Swiss francs (5.23 billion pounds) share buyback after sales growth picked up in the second quarter.

Risk-averse China seen pushing back plans to free yuan

Thu, 07/08/2014 - 05:59
BEIJING (Reuters) - China is quietly pushing back its loose timetable to make the yuan freely convertible, policy insiders say, as authorities fear removing capital controls too soon could unleash damaging speculative flows that will make it harder to reshape the economy.

T-Mobile deal collapse could spark telecom price war

Thu, 07/08/2014 - 04:50
WASHINGTON (Reuters) - Sprint Corp's newly appointed Chief Executive Marcelo Claure has so far had a Midas touch in the telecoms industry, turning Brightstar, a reseller of U.S. handsets to Latin America, into a distributor valued at $2.2 billion (£1.31 billion) when it was sold to Japan's SoftBank.

Insight: Samsung's next reinvention challenge - itself

Thu, 07/08/2014 - 03:14
SEOUL (Reuters) - As its smartphone sales stutter and a generational leadership succession looms, Samsung Electronics Co Ltd is under pressure to reinvent itself - to be more innovative, but not lose the rigor and focus that made it a global powerhouse.

Bank of England seen split, but no rate hike for now

Thu, 07/08/2014 - 02:45
LONDON (Reuters) - The Bank of England looks likely to start the ball rolling towards its first interest rate hike since 2007 when it wraps up a policy meeting on Thursday.

U.S. judge tells New York bank to hold onto Argentine bond funds

Thu, 07/08/2014 - 02:23
BUENOS AIRES (Reuters) - The U.S. judge in charge of Argentina's debt default case on Wednesday ordered Bank of New York Mellon to hold on to money deposited by the government rather than disburse the funds to holders of the country's restructured bonds.