May 23, 2013

Business Headlines

Business News

  • Bernanke and growth fears send shares lower, yen up

    Employees of the Tokyo Stock Exchange work at the bourse in TokyoBy Richard Hubbard LONDON (Reuters) - Concerns over the future of the U.S. Federal Reserve's monetary stimulus and weak Chinese factory data sent shares sharply lower and safe haven currencies like the yen higher on Thursday. The shift from riskier assets to safer markets was triggered when Fed Chairman Ben Bernanke told a congressional committee on Wednesday the central bank could scale back the pace of bond purchases at one of its next few policy meetings. A weak manufacturing survey from China added to investors' worries, dragging MSCI's world equity index down 1. ...


  • China factory activity shrinks for first time in seven months: flash PMI

    A worker walks on the roof of an office building construction site near a lake in HefeiBy Aileen Wang and Koh Gui Qing BEIJING (Reuters) - China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary manufacturing survey showed, entrenching fears that its economic recovery has stalled and that a sharper cooldown may be imminent. The flash HSBC Purchasing Managers' Index (PMI) for May fell to 49.6, slipping under the 50-point level demarcating expansion from contraction for the first since October and sending Asian financial markets sharply lower. The final HSBC PMI stood at 50.4 in April. ...


  • HP raises 2013 outlook as Whitman's plan takes hold

    A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo AltoBy Poornima Gupta SAN FRANCISCO (Reuters) - Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations, as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing services. While fiscal second-quarter profit plummeted 32 percent, Wall Street had braced for worse. HP shares gained 14 percent after the company projected full-year earnings per share of $3.50 to $3.60, raising the lower end by 10 cents, and fiscal third-quarter profit that topped analyst estimates. ...


  • Exclusive: Glencore, Trafigura deals with Iran may have skirted sanctions - U.N

    The logo of Glencore is seen in front of the company's headquarter in the Swiss town of ZugBy Louis Charbonneau and Michelle Nichols UNITED NATIONS (Reuters) - Metals swap deals with Iran by Switzerland-based commodities giants Glencore Xstrata and Trafigura could have been a way of skirting international sanctions against Tehran over its nuclear program, according to a confidential U.N. Panel of Experts report seen by Reuters on Wednesday. Reuters reported on March 1 that Glencore had supplied thousands of tons of alumina to an Iranian firm that has provided aluminum to Iran's nuclear program, an allegation Glencore confirmed as accurate. ...


  • Pfizer takes its shot at a vaccine for evasive superbug

    Jansen, senior vice president of Vaccine Research and Early Development at Pfizer Inc, poses in her lab at Pfizer headquarters in Pearl RiverBy Julie Steenhuysen CHICAGO (Reuters) - Kathrin Jansen is a microbiologist with at least two breakthrough vaccines to her name: she brought the cervical cancer vaccine Gardasil to market for Merck and helped develop the $4 billion a year pneumonia and meningitis vaccine Prevnar 13 for Pfizer. Jansen's next vaccine success could come by taming the superbug MRSA, a drug-resistant bacterium that she has seen ravage a healthy man up close and personally. Methicillin-resistant Staphylococcus aureus infects an estimated 53 million people globally and costs more than $20 billion a year to treat. ...