Reuters: Business News

European shares, euro gain as Greek fears ease

Mon, 28 May 2012 08:23:48 -0400

LONDON (Reuters) - European stocks rose for a third straight session on Monday and the euro bounced back from two-year lows, as Greek polls showing growing support for pro-bailout parties eased speculation about a disorderly exit by Athens from the single currency.

RIM's top lawyer joins parade of resignations

Mon, 28 May 2012 15:57:52 -0400

TORONTO (Reuters) - The top lawyer at Research In Motion Ltd has resigned and will soon leave the struggling BlackBerry maker, RIM said on Monday, joining a parade of long-time company executives to depart since Thorsten Heins took over as CEO earlier this year.

Woodford whistleblowing case delayed by judge

Mon, 28 May 2012 14:15:18 -0400

LONDON (Reuters) - The case for unfair dismissal brought by former Olympus CEO Michael Woodford following the uncovering of one of Japan's biggest corporate frauds was delayed on Monday, sparking talk of an out-of-court settlement.

Fed's Plosser says U.S. to withstand euro fallout: WSJ

Mon, 28 May 2012 17:24:58 -0400

(Reuters) - The United States is well poised to withstand any fallout from Europe's escalating debt crisis, a top Federal Reserve executive told the Wall Street Journal.

Marubeni nears $5 billion-plus Gavilon deal: sources

Mon, 28 May 2012 18:43:54 -0400

TOKYO/NEW YORK (Reuters) - Japanese trading house Marubeni Corp is nearing a deal to buy U.S. grains merchant Gavilon for more than $5 billion including debt and could announce the transaction as early as Tuesday afternoon in Tokyo, according to people familiar with the matter.

U.S. data, Europe woes to set tone

Fri, 25 May 2012 20:23:51 -0400

NEW YORK (Reuters) - Investors will grapple next week with major U.S. economic reports and the looming possibility of a Greek exit from the euro zone, which is likely to keep dragging on equities for weeks to come.

Analysis: Geography, not economy, counts in China's rebalancing

Mon, 28 May 2012 19:19:28 -0400

XI'AN, China (Reuters) - A gleaming new $1.4 billion airport extension, a $5.2 billion bullet train and Samsung's planned $7 billion electronics plant, touted as the largest single high-tech foreign investment in China, are sure signs of economic intent in ancient Xi'an.

Spanish debt costs spiral as crisis deepens

Mon, 28 May 2012 17:30:34 -0400

MADRID (Reuters) - Spanish 10-year borrowing costs neared the 7 percent danger level and Bankia shares hit record lows on Monday after the government, struggling to sort out its finances, proposed putting sovereign debt into the struggling lender.

Xstrata committed to Peru despite protest

Mon, 28 May 2012 16:10:57 -0400

LIMA (Reuters) - Protests at Xstrata's Tintaya copper mine in southern Peru have blocked transport links, but it is operating normally and its port on the Pacific coast has stocks of concentrates for the time being, a company executive said on Monday.

Iraq set to auction new oil, gas blocks

Mon, 28 May 2012 12:53:43 -0400

BAGHDAD (Reuters) - Iraq will auction 12 new oil and gas exploration blocks this week in a fourth energy bidding round, as it seeks the rapid expansion of a sector vital to its economy, but tough contract terms mean Baghdad may struggle to drum up major interest.