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| Asian factories perk up, U.S. shows improvement Thursday, Nov 01, 2012 12:17 PM PDT  NEW YORK/BEIJING (Reuters) - Asia's large economies started to pick up steam last month after a year of slower growth, surveys showed on Thursday, while U.S. manufacturing showed modest improvement. The jury was out on whether the data signaled sustained improvement in the fragile global economy, although analysts said strength in the United States and China, the world's two biggest economies, was essential to overall economic well-being. That is particularly so at a time when a debt crisis in the 17-country euro zone has plunged several countries in the region into recession. ... Full Story | Top |
| Storm Sandy knocks October auto sales below estimates Thursday, Nov 01, 2012 12:09 PM PDT  DETROIT (Reuters) - Superstorm Sandy's fury caused U.S. auto sales to fall short of expectations in October, but industry executives still see a strong fourth quarter as the housing market improves. While General Motors Co and Chrysler Group LLC both reported their strongest sales for October since the 2007-09 financial crisis, the massive storm that hit the U.S. East Coast took as much as 30,000 vehicle sales out of the mix. "Clearly, the storm had a bigger than anticipated impact on sales," said TrueCar.com analyst Jesse Toprak. ... Full Story | Top |
| TSX rises as firm data outweighs Barrick's slide Thursday, Nov 01, 2012 12:04 PM PDT  TORONTO (Reuters) - Canada's main stock index hit a six-week high on Thursday, driven by positive economic data from the United States and China, which more than offset disappointing results from mining giants Barrick Gold Corp and Cameco Corp . U.S. data showed consumer confidence climbed to a more than four-year high in October and the pace of growth in manufacturing picked up modestly. The numbers pushed U.S. stock markets up sharply. Official and private sector factory surveys signaled China's economy was regaining some traction, although the recovery is expected to be sluggish. ... Full Story | Top |
| Lot of work left on Canada-EU trade deal, both sides say Thursday, Nov 01, 2012 12:03 PM PDT OTTAWA (Reuters) - Canada and the European Union still have plenty of work to do on a proposed free trade treaty that is supposed to be finished by the end of the year, officials from both sides said on Thursday. Canada, keen to diversify its exports away from the United States, says a deal with the European Union would increase two-way trade by 20 percent. The talks started in 2009. But several sensitive matters remain to be settled, including access for agricultural goods, opening up procurement markets and the extension of pharmaceutical patents. ... Full Story | Top |
| UK police arrest Starr in Savile abuse inquiry -TV Thursday, Nov 01, 2012 11:54 AM PDT LONDON (Reuters) - British police arrested comedian Freddie Starr on Thursday as part of an investigation triggered by allegations that late BBC presenter Jimmy Savile sexually abused children, media reported. Police said in a statement they had arrested a man in his 60s on suspicion of sexual offences. The man was identified by Sky News and ITV News as Starr, who earlier had offered to talk to police. The allegations of abuse have shaken Britain's state-funded broadcaster and shocked fans of Savile who was as famous for his charity work as he was for his eccentric TV style. ... Full Story | Top |
| Canada will push to keep bank capital rules on schedule Thursday, Nov 01, 2012 11:54 AM PDT OTTAWA (Reuters) - Canada will urge all countries to stick to the agreed schedule for implementing tougher bank capital rules at a November 4-5 meeting of finance ministers and central bankers from the Group of 20 nations, a senior finance ministry official said on Thursday. The so-called Basel III rules are the world's regulatory response to the financial crisis, forcing banks to triple the amount of basic capital they hold in a bid to avoid future taxpayer bailouts. They were to be phased in from January 2013 but areas such as the United States and the European Union are not yet ready and U. ... Full Story | Top |
| Suncor delays new oil sands mine, upgrader "challenged" Thursday, Nov 01, 2012 11:54 AM PDT CALGARY, Alberta (Reuters) - Suncor Energy Inc said on Thursday that rising light oil production threatens the profitability of a massive new upgrading facility planned by Canada's dominant oil sands producer as it delayed plans to expand output from the world's third-largest oil reserve. The company. Canada's No. 1 integrated oil producer and refiner, backed away from what had been a C$20.6 billion ($20. ... Full Story | Top |
| Brazil's corn, ethanol exports surge after U.S. drought Thursday, Nov 01, 2012 11:48 AM PDT SAO PAULO (Reuters) - Brazil's trade ministry said the country's exports of corn and ethanol rose in October as foreign buyers turned to Brazil after the worst drought in 50 years ravaged U.S. crops. Sugar and iron ore exports surged in October from a year before as well, as weather at the main ports remained clear and global demand for the raw materials was strong, the ministry said on Thursday. Brazil harvested a record corn crop of nearly 73 million metric tons (80.47 million tons) this past season, which surpassed its soy output for the first time in a decade. ... Full Story | Top |
| Catamaran raises profit forecast on Catalyst buy Thursday, Nov 01, 2012 11:46 AM PDT (Reuters) - Pharmacy benefit manager Catamaran Corp raised its earnings forecast for the year betting that it will benefit from the U.S. healthcare reform through its $4.4 billion acquisition of rival Catalyst Health Solutions. Catamaran, formerly known as SXC Health Solutions, said third-quarter revenue more than doubled to $3.2 billion as it added new customers and integrated the existing customers of Catalyst and HealthTran LLC, a pharmacy benefit manager (PBM) it bought earlier this year. Catamaran shares rose 9 percent to C$51. ... Full Story | Top |
| Harper to promote Canada business, but no investment rules yet Thursday, Nov 01, 2012 11:45 AM PDT  OTTAWA (Reuters) - Prime Minister Stephen Harper will promote Canada as open for business during a November 3-11 trip to Asia, although he is not likely to unveil long-awaited guidelines for foreign takeovers of Canadian firms, an aide said on Thursday. "I don't think it's a problem at all to go around the world and say we're open for business, because we are," Harper's chief spokesman, Andrew MacDougall, told reporters ahead of the trip, which will take Harper to India, the Philippines and Hong Kong. "Canada overwhelmingly supports foreign investment in Canada ... ... Full Story | Top |
| Guarded optimism on Irish economy despite growth cut Thursday, Nov 01, 2012 11:24 AM PDT DUBLIN (Reuters) - Ireland's economy won't grow as fast next year as previously anticipated, although it will beat the 1.4 percent growth posted in 2011, finance minister Michael Noonan said on Thursday. Noonan's guarded optimism appeared to be backed up by a survey released on Thursday that showed Ireland's manufacturing sector grew for the eighth month in a row in October and at the fastest rate in three months as orders from abroad rebounded. ... Full Story | Top |
| Data for 2011 shows critics of UK utilities' profits wrong - RWE Thursday, Nov 01, 2012 11:24 AM PDT LONDON (Reuters) - Britain's largest six energy suppliers made a profit from less than 8 percent of the energy they produced and sold last year, according to data they are forced to reveal by regulation and which was released on Thursday. Energy companies are often accused of making hefty profits from selling energy to consumers. ... Full Story | Top |
| United may upgrade some A350 jet orders: sources Thursday, Nov 01, 2012 11:03 AM PDT (Reuters) - United Airlines is mulling upgrading some of its Airbus A350 orders to the largest member of the European aircraft family in a possible setback for Boeing Co's 777 mini-jumbo, industry sources said. The deal would be seen as a breakthrough for the A350-1000, which suffered a four-year gap in orders until Cathay Pacific Airways Ltd selected the 350-seat aircraft in July. ... Full Story | Top |
| Canada's biggest hog farm weathers crisis, eyes supply risk Thursday, Nov 01, 2012 10:38 AM PDT WINNIPEG, Manitoba (Reuters) - Canada's biggest hog producer, privately held HyLife, is weathering the industry's severe losses inflicted by the U.S. drought, but fears losing part of its pig supply as buyers line up for other distressed farms, the company's chief operating officer said on Thursday. While rival Canadian hog producers Big Sky Farms and Puratone Corporation entered receivership and creditor protection respectively this autumn, HyLife has maintained its hog production and kept its Neepawa, Manitoba processing plant running at expanded capacity, said HyLife COO Claude Vielfaure. ... Full Story | Top |
| Wall Street rallies on strong job market and consumer data Thursday, Nov 01, 2012 10:35 AM PDT  NEW YORK (Reuters) - Stocks shot higher on Thursday, boosted by bullish job market and consumer confidence data as trading continued to return to normal following storm Sandy's devastating sweep through the U.S. North East. Technology and industrial sector shares led gains as data showed U.S. companies added jobs in October at the fastest pace in eight months, and consumer confidence hit its highest in more than four years. The numbers paint a rosier economic picture ahead of a key government report on nonfarm payrolls due on Friday. ... Full Story | Top |
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