Record Wall Street boosts sentiment, U.S. holds key in Q2
TOKYO (Reuters) - Whether the world's largest economy can sustain momentum will be a primary focus for investors for the next three months after a general recovery trend in the United States helped risk sentiment for broad markets in the first quarter of 2013. Asian shares edged higher and the euro steadied on Friday after banks in Cyprus reopened to relative calm. Overall trade was subdued, with many Asian markets, including Australia, Singapore and Hong Kong, closed on Friday for Easter holidays.
Banks lift TSX on Cyprus calm; index up for quarter
TORONTO (Reuters) - Canada's main stock index powered ahead in a late surge on Thursday, led by strength in financial and industrial shares, on relief that banks in Cyprus reopened relatively smoothly following a bailout deal. The market received further support from BlackBerry
More trouble for Cohen's SAC Capital as Steinberg indicted in NY
(Reuters) - U.S. prosecutors on Friday charged Michael Steinberg, a veteran portfolio manager at Steven A. Cohen's hedge fund, with insider trading in two technology stocks, the most senior SAC Capital Advisors' employee to be indicted in the government's long-running probe. FBI agents arrested Steinberg at his Park Avenue home in New York City at around 6 a.m. EDT (1000 GMT). Steinberg, wearing a blue sweater, pleaded "not guilty" to charges of securities fraud and conspiracy to commit securities when he appeared at a late morning arraignment.
Chesapeake names Dixon interim CEO as McClendon set to leave
(Reuters) - Chesapeake Energy Corp
Loeb's Third Point outperforms hedge fund rivals again
BOSTON (Reuters) - Hedge fund manager Daniel Loeb outperformed his rivals again in the first quarter with returns that kept pace with the stock market's recent rally, a person familiar with Loeb's returns said. The New York-based manager told investors late on Thursday that his flagship Third Point Offshore Fund rose 2.8 percent in March while the Third Point Ultra fund, the leveraged version of the Offshore fund, gained 4.2 percent.
Big depositors in Cyprus to lose far more than feared
NICOSIA (Reuters) - Big depositors in Cyprus's largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday. Under conditions expected to be announced on Saturday, depositors in Bank of Cyprus
Fiat CEO probed for violation of workers' rights
MILAN (Reuters) - Fiat's
Exclusive: Indonesia's CT Corp proposes all-cash deal for Bakrie's media unit
TANJUNG BENOA, Indonesia (Reuters) - Indonesia's fifth-richest man has proposed to buy a controlling stake in PT Visi Media Asia, valued at up to $1.8 billion, in an all-cash deal that would give him the lion's share of the TV advertising market in Southeast Asia's biggest economy. Chairul Tanjung, the billionaire founder and chairman of CT Corp, a conglomerate with banking and media interests, told Reuters that his company wanted to buy the stake in the media unit of Indonesia's powerful Bakrie family without any partners.
Deutsche Bank probe finds incomplete data given to prosecutors: magazine
FRANKFURT (Reuters) - An internal investigation at Deutsche Bank
Power firm CEZ files complaint with EU against Bulgaria
PRAGUE (Reuters) - Czech power producer CEZ
Source: http://news.yahoo.com/ca-business-summary-012952632--finance.html
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