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| CA-BUSINESS Summary Thursday, Jun 13, 2013 12:35 PM PDT Dollar slumps versus yen; Wall Street rises on data NEW YORK (Reuters) - The U.S. dollar fell to a 10-week low against the yen on Thursday, extending a selloff on worries about an end to central bank stimulus, while Wall Street stocks moved higher on stronger-than-expected U.S. economic data. Japan's Nikkei fell 6.4 percent overnight, its second-biggest daily drop in more than two years. European markets lost more than 1 percent before recovering to end slightly lower. ... Full Story | Top |
| EADS boss sees strong Airbus orders at Paris Airshow Thursday, Jun 13, 2013 12:35 PM PDT  PARIS (Reuters) - European planemaker Airbus expects to sign orders for hundreds of passengers jets at next week's Paris Airshow, the head of parent company EADS said on Thursday. Chief Executive Tom Enders's remarks came on the eve of the first flight of the company's newest jet, the A350, which he described as a dynamo for tens of thousands of European jobs. ... Full Story | Top |
| Why 'Man of Steel' Holds the Key to Warner Bros.' Future Franchises Thursday, Jun 13, 2013 12:34 PM PDT  By Lucas Shaw and Brent Lang LOS ANGELES (TheWrap.com) - "Man of Steel" flies into theaters on Friday carrying not just a $200 million price tag and the fate of Superman on its chiseled shoulders, but the future of Warner Bros. as well. The most stable studio in town has been anything but over the past few months, as questions swirl about the future of its film chief Jeff Robinov and the studio's relationship with a key financing partner, Legendary Entertainment. Robinov has already predicted that "Man of Steel," starring Henry Cavill, will be the biggest film in studio history. ... Full Story | Top |
| Ford may develop new models as part of Lincoln brand revival Thursday, Jun 13, 2013 12:33 PM PDT  By Deepa Seetharaman DETROIT (Reuters) - Ford Motor Co may branch out and develop new models for Lincoln in fast-growing vehicle segments as part of the second-largest U.S. automaker's latest attempt to revive the struggling luxury brand and boost its profits. The company did not specify which vehicle segments it was targeting. But in a presentation to investors on Thursday, Ford showed in a chart that it expects the premium small-car and crossover segments to grow sharply by 2015. ... Full Story | Top |
| Jennifer Garner Joins Up With Warner Bros. TV for Overall Deal Thursday, Jun 13, 2013 12:29 PM PDT  By Tim Kenneally LOS ANGELES (TheWrap.com) - Jennifer Garner is in business with Warner Bros. Television. The "Valentine's Day" actress' production company, Vandalia Films, has entered a two-year overall deal with WBTV, an individual with knowledge of the agreement told TheWrap on Wednesday. Per the agreement, Garner will receive executive producer credit on projects that are developed and produced under the deal. Vandalia has previously produced the 2011 comedy "Butter," which starred Garner and "Modern Family" star Ty Burrell. ... Full Story | Top |
| U.S., Arkansas sue Exxon over Pegasus pipeline spill Thursday, Jun 13, 2013 12:28 PM PDT  WASHINGTON (Reuters) - The Justice Department filed a joint lawsuit with Arkansas on Thursday against oil producer Exxon Mobil Corp over the pipeline spill in March of thousands of barrels of heavy Canadian crude oil in a suburban neighborhood. The 95,000 barrels per day Pegasus line has been shut since spilling the oil in Mayflower, Arkansas, where cleanup operations continue. U.S. oil pipelines rarely spill in towns. The Justice Department said it is seeking civil penalties against Exxon under federal law. ... Full Story | Top |
| Dow extends gains, rises 1 percent Thursday, Jun 13, 2013 12:19 PM PDT  NEW YORK (Reuters) - Stocks extended gains on Thursday, with the Dow Jones industrial average up 1 percent, after stronger-than-expected economic data helped ease concerns about the impending start of the winding down of stimulus from the Federal Reserve. The Dow Jones industrial average was up 156.88 points, or 1.05 percent, at 15,152.11. The Standard & Poor's 500 Index was up 20.25 points, or 1.26 percent, at 1,632.77. The Nasdaq Composite Index was up 39.20 points, or 1.15 percent, at 3,439.63. (Reporting by Ryan Vlastelica; Editing by Nick Zieminski) Full Story | Top |
| One dead, 73 injured in Louisiana plant explosion: governor Thursday, Jun 13, 2013 12:12 PM PDT  (Reuters) - The explosion and fire at the Williams Olefins chemical plant in Geismar, Louisiana, killed one person and injured 73 others, Louisiana Governor Bobby Jindal said on Thursday. Officials previously had reported one dead and 33 injured. Government monitors had yet to detect dangerous levels of emissions from the explosion and a fire burning the petrochemical propylene, but measurements would continue, Jindal told a news conference near the scene. (Reporting by Daniel Trotta; Editing by Sandra Maler) Full Story | Top |
| TSX jumps 1 percent as data reverses sentiment Thursday, Jun 13, 2013 12:08 PM PDT  TORONTO (Reuters) - Canada's main stock rose more than 1 percent on Thursday, led by financial stocks, as bullish U.S. economic data lifted market sentiment and spurred a jump in almost every major sector. In mid-afternoon trading, the Toronto Stock Exchange's S&P/TSX composite index was up 122.78 points, or 1.01 percent, at 12,232.67, after opening lower. (Reporting by John Tilak; Editing by James Dalgleish) Full Story | Top |
| Analysis: This time, bond investors think a Fed pullback is real Thursday, Jun 13, 2013 12:07 PM PDT  By Karen Brettell NEW YORK (Reuters) - This time, the Fed is serious. That's the judgment of U.S. government bond investors who believe the Federal Reserve is close to paring back its $2.5 trillion, 4-1/2-year bond purchase program, and it's causing turmoil in the U.S. Treasury market. Trading in Treasuries has turned notably more volatile in recent days and volatility may continue as traders try to adjust to a marketplace in flux. In the last six weeks, benchmark 10-year U.S. Treasury note yields have surged to 2.19 percent, from 1.60 percent at the beginning of May. ... Full Story | Top |
| Apple looking at bigger iPhone screens, multiple colors - sources Thursday, Jun 13, 2013 12:06 PM PDT  By Clare Jim, Reiji Murai and Poornima Gupta (Reuters) - Apple Inc is exploring launching iPhones with bigger screens, as well as cheaper models in a range of colors, over the next year, said four people with knowledge of the matter, as it takes a cue from rival Samsung Electronics. The moves, which are still under discussion, underscore how the California-based firm that once ruled the smartphone market is increasingly under threat from its aggressive South Korean competitor. ... Full Story | Top |
| JPMorgan makes another change in chief risk office Thursday, Jun 13, 2013 12:02 PM PDT By David Henry NEW YORK (Reuters) - John Hogan, who was named chief risk officer at JPMorgan Chase & Co last year just as its London Whale trades began racking up billions of dollars of losses, may leave the company, CEO Jamie Dimon said on Thursday. Hogan will hold a new title of chairman of risk after returning to work on Monday from a leave he started in January, Dimon said in a memo to employees which was seen by Reuters. Ashley Bacon, Hogan's deputy, will become chief risk officer. ... Full Story | Top |
| Coty fails to charm investors in market debut Thursday, Jun 13, 2013 11:56 AM PDT  By Ashutosh Pandey (Reuters) - Shares of perfume and beauty products seller Coty Inc fell more than 3 percent in their market debut on Thursday, taking the gloss off the third-largest U.S. IPO this year. There had been concerns ahead of the IPO that Coty was too dependent on the U.S. and European markets and that its mass-appeal products exposed it to swings in discretionary spending. The company gets most of its revenue from perfume brands including Calvin Klein, Davidoff and Playboy as well as those it sells under the names of celebrities such as Beyonce Knowles, Lady Gaga and Jennifer ... Full Story | Top |
| Monte Paschi calls shareholder meeting to vote on scrapping voting cap Thursday, Jun 13, 2013 11:55 AM PDT MILAN (Reuters) - Banca Monte dei Paschi di Siena said on Thursday its board had decided to call a shareholder meeting to vote on the scrapping of a 4 percent ceiling on voting rights. In a statement, Italy's No. 3 bank said an extraordinary and ordinary shareholders meeting had been called for July 18 and 19 in first and second convocation, respectively. The shareholders will also be asked to vote on measures relating to the May. 28 suspension of board member Michele Briamonte, the lender said. (Reporting By Stephen Jewkes) Full Story | Top |
| Monte Paschi seeks to double capital increase: sources Thursday, Jun 13, 2013 11:46 AM PDT  MILAN/ROME (Reuters) - Top management at Banca Monte dei Paschi di Siena is pressing to increase the ceiling on a possible rights issue to 2 billion euros ($2.66 billion) from 1 billion euros, two sources familiar with the situation told Reuters. Italy's No.3 bank took 4.1 billion euros in state aid this year to stay afloat but the troubled lender may need more money to cope with a worsening economic scenario and repay the state. ... Full Story | Top |
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