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| US-INDUSTRY Summary Monday, Apr 08, 2013 12:33 PM PDT Fox makes threats to become cable channel amid Aereo dispute LAS VEGAS (Reuters) - Broadcast TV network Fox could become a subscription service that customers would have to pay for if the courts are not able to protect Fox's business from the startup Aereo, News Corp Chief Operating Officer Chase Carey said on Monday. Carey's comments come a week after a U.S. appeals court rejected a petition by the major broadcasters to stop the online service Aereo, which offers a cut-rate TV subscription for consumers by capturing broadcast signals over thousands of antennas at one time. ... Full Story | Top |
| Fox makes threats to become cable channel amid Aereo dispute Monday, Apr 08, 2013 12:33 PM PDT  By Liana B. Baker LAS VEGAS (Reuters) - Broadcast TV network Fox could become a subscription service that customers would have to pay for if the courts are not able to protect Fox's business from the startup Aereo, News Corp Chief Operating Officer Chase Carey said on Monday. Carey's comments come a week after a U.S. appeals court rejected a petition by the major broadcasters to stop the online service Aereo, which offers a cut-rate TV subscription for consumers by capturing broadcast signals over thousands of antennas at one time. ... Full Story | Top |
| CA-BUSINESS Summary Monday, Apr 08, 2013 12:25 PM PDT Cloudy outlook makes Canadian companies shy of investment OTTAWA (Reuters) - Canadian businesses see a challenging year ahead after surviving the weakest two quarters of growth since the 2008-09 recession, and they expect only modest sales growth, cautious investment, and tame inflation, a Bank of Canada poll showed on Monday. The results of the survey of senior managers, taken from mid-February to mid-March, support market expectations that the central bank is under no pressure to raise interest rates. ... Full Story | Top |
| JetBlue Airways will get first U.S.-made Airbus jet Monday, Apr 08, 2013 12:25 PM PDT  MOBILE, Alabama (Reuters) - JetBlue Airways Corp Chief Executive Dave Barger said on Tuesday that his airline will receive the first U.S.-assembled Airbus jet, which will roll off the assembly line in 2016. Barger spoke at a groundbreaking for a $600 million factory of EADS' Airbus unit in Mobile, Alabama. The plant is expected to create 1,000 jobs, and bolster U.S. spending by Airbus, which already spends $13 billion with U.S. suppliers. "We'll be the launch customer of this assembly line," Barger said. "We have well over 100 of the A320s today. It's a big day for JetBlue as well. ... Full Story | Top |
| Airbus sales chief aims to hit 750 plane orders in 2013 Monday, Apr 08, 2013 12:23 PM PDT  MOBILE, Alabama (Reuters) - The sales chief at EADS unit Airbus said on Monday the aircraft maker can sell 750 jets this year, confirming the top end of a 700-750 sales range the company has previously announced. "I'm still standing by my target of 750 planes sold this year," said John Leahy, chief operating officer for customers. He added that he expected "a good year but not a great year in terms of orders" in 2013. ... Full Story | Top |
| GE to buy oil pump maker Lufkin for nearly $3 billion Monday, Apr 08, 2013 12:17 PM PDT  By Ernest Scheyder (Reuters) - General Electric Co is buying oilfield pump maker Lufkin Industries Inc for $2.98 billion, sharply increasing its presence in the fast-growing market to extract oil and natural gas from shale rock, the conglomerate said on Monday. Lufkin's pumps, also known as artificial lift products, are commonly seen seesawing back and forth on top of energy wells to pull oil and natural gas to the surface. ... Full Story | Top |
| Greens ask U.S. to delay Keystone decision after Arkansas leak Monday, Apr 08, 2013 12:09 PM PDT  By Timothy Gardner WASHINGTON (Reuters) - Environmental groups on Monday asked the Obama administration to extend the approval process of the Keystone XL pipeline, using last month's spill of heavy Canadian crude oil in Arkansas as their latest reason to delay the project. The Obama administration is deciding whether to approve the Canada-to-Nebraska leg of TransCanada Corp's proposed pipeline, which would link Canada's oil sands, the world's third richest crude oil deposit, to refineries in Texas. The State Department, which issued a draft environmental assessment of the $5. ... Full Story | Top |
| Macy's, J.C. Penney resume Martha Stewart courtroom tussle Monday, Apr 08, 2013 11:59 AM PDT  By Karen Freifeld NEW YORK (Reuters) - Macy's Inc and J.C. Penney Co Inc were back in court on Monday in their fight over Martha Stewart, with Macy's claiming that some of the items Penney has begun selling on its website infringe on its exclusive deal with the home goods guru. After a month-long mediation effort failed to yield a settlement, the trial resumed in New York state court over whether Macy's has an exclusive right to sell certain Martha Stewart home goods products. ... Full Story | Top |
| Wall Street edges higher as investors await earnings Monday, Apr 08, 2013 11:39 AM PDT  By Ryan Vlastelica NEW YORK (Reuters) - Stocks rose slightly in a volatile session on Monday as investors were reluctant to make large bets going into an earnings season that is expected to be lackluster. Forecasts for first-quarter earnings have been scaled back dramatically, with profits seen rising just 1.6 percent from the year-ago quarter, according to Thomson Reuters data. In January, earnings were seen rising 4.3 percent. The drop in profit expectations has come amid an economy that could be hitting a slow patch, with last week's March payroll report severely below expectations. ... Full Story | Top |
| HSBC says margins to boost Gulf's use of Chinese yuan Monday, Apr 08, 2013 11:00 AM PDT  By Andrew Torchia DUBAI (Reuters) - Changing trading patterns and pressure to improve profit margins will boost the Gulf's use of the Chinese yuan in coming years, the head of banking giant HSBC's China operations said on Monday. Gulf Arab countries have lagged many other parts of Asia in using the yuan because their oil exports to China are denominated in U.S. dollars and most of their currencies are pegged to the dollar. HSBC estimates 10 percent of China's international trade is conducted in yuan, a ratio which it expects will rise to 30 percent by 2015. ... Full Story | Top |
| Nordstrom adds second Toronto store to Canadian expansion Monday, Apr 08, 2013 10:56 AM PDT  TORONTO (Reuters) - U.S. luxury retailer Nordstrom Inc is expanding its push into Canada, announcing plans on Monday to open a second namesake department store in Toronto in the fall of 2016. Nordstrom said it will open a three-storey, 188,000-square-foot store in Toronto's Yorkdale Shopping Centre in addition to a previously announced, smaller store in the city's Sherway Gardens mall. The Seattle-based company said late last year that it would open four full-sized Nordstrom stores in Canada - in Calgary, Ottawa, Vancouver and Toronto - starting in the fall of 2014. ... Full Story | Top |
| Hair Club, Bosley hair company settle FTC charges Monday, Apr 08, 2013 10:48 AM PDT WASHINGTON (Reuters) - Bosley Inc, which markets treatments for balding men, has settled charges that it gave sensitive business information about products and prices to a competitor with which it later decided to merge, the U.S. Federal Trade Commission said on Monday. The FTC said Bosley's chief executive officer traded information with the Hair Club CEO about new products, price floors for surgical hair transplants and planned expansions. Bosley's corporate parent, Japan's Aderans Co Ltd , said in July that it would buy Hair Club for Men and Women for $163.5 million. ... Full Story | Top |
| Occidental denies "fight at the top" talk in CEO search Monday, Apr 08, 2013 10:45 AM PDT (Reuters) - The board of Occidental Petroleum Corp , which has said it is searching for an eventual replacement for Chief Executive Stephen Chazen, denied on Monday that there was a "fight at the top" over the succession. The Wall Street Journal reported recently that Ray Irani, the oil company's chairman and former long-time CEO, was pushing to replace Chazen, who is 66 years old. ... Full Story | Top |
| AIG files to dismiss part of Greenberg suit over bailout Monday, Apr 08, 2013 10:26 AM PDT  (Reuters) - Insurer American International Group Inc has asked a court to block Maurice "Hank" Greenberg's efforts to sue the government on AIG's behalf, saying its former CEO has not proven he should have the right to do so. Earlier this year, AIG drew sharp criticism from members of Congress and an outraged public when the firm considered the possibility of joining Greenberg's lawsuit, which challenges the terms of the insurer's $182.3 billion bailout by the federal government in 2008. ... Full Story | Top |
| Qatar runs returns rule over fast cars and football Monday, Apr 08, 2013 09:56 AM PDT  By Mirna Sleiman and Dinesh Nair DUBAI (Reuters) - Bankers and politicians touting their countries' wares have to work hard to get the attention of Qatar's sovereign wealth fund, such is the range of its interests, from banks to cars to soccer clubs, and its exacting requirement for returns. With estimated assets of about $200 billion, and more than a dozen potential deals on its radar every week, the state-run firm has no time for less than compelling investment opportunities and hopes to make more than 17 percent on its book this year, according to one banker close to the fund. ... Full Story | Top |
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