Asian shares mixed as U.S. jobs report looms, ECB soothes
By Nichola Saminather and Hideyuki Sano SINGAPORE/TOKYO (Reuters) - Asian shares were mixed on Friday as caution about a U.S. jobs report jostled with signals from the European Central Bank that it is willing to take further steps to shore up the European economy. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent after rising in early trade. Japan's Nikkei fell 0.9 percent, extending losses this week to 6.0 percent.
Thu, 03 Sep 2015 22:41:33 -0400
Oil prices dip on caution ahead of U.S. jobs data
Oil prices eased on Friday as investors turned cautious ahead of U.S. jobs data that is expected to play into the Federal Reserve's decision on the timing of any U.S. rate hike. "There's been a little bit of up and down and range-bound movement, which has all the hallmarks of a market marking time," said Ben Le Brun, market analyst at Sydney's OptionsXpress. Brent crude for October delivery fell 58 cents to $50.10 a barrel as of 0519 GMT, after ending the previous session 18 cents higher.
Fri, 04 Sep 2015 01:33:31 -0400
U.S. job gains seen solid in August, spotlight on Fed
The U.S. economy likely added jobs at a steady pace in August and the unemployment rate probably fell to a near 7-1/2-year low of 5.2 percent, which could allow a cautious Federal Reserve to consider a September interest rate hike. "We don't think it will detract from the possibility that the Fed is considering a September rate hike, only if we saw ominous signs of a deterioration elsewhere in the data," said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina. In the wake of the recent global equities selloff, financial markets significantly scaled back bets on a rate hike over the past month.
Fri, 04 Sep 2015 01:25:15 -0400
Investor flight from US stocks fails to lift bond market
The "flight to safety" into bonds many expected when U.S. stocks slumped last week never took off, making big losers out of prominent fund managers and further confusing investors at a volatile time in the market. Stocks plunged in the second half of August, largely on fears of China's worsening economy, but U.S. Treasury yields did not see the kind of safety bid that many were expecting and has been typical in times of stock-market stress in the past. Reduced appetite from overseas, along with the outlook for the Fed, will be crucial in coming weeks if equities fall again and bonds don't respond.
Fri, 04 Sep 2015 01:07:30 -0400
U.S. sanctions against Chinese firms could be next week: FT
The FT cited three U.S. officials as saying the sanctions probably would come next week in advance of Chinese President Xi Jinping's visit later in the month. Suspicions that Chinese hackers were behind a series of data breaches in the United States have been an irritant in relations between the United States and China. The United States is also considering sanctions against Russian individuals and companies for cyber attacks, U.S. officials have told Reuters.
Thu, 03 Sep 2015 15:46:39 -0400
Qualcomm president says splitting company may not create value
By Liana B. Baker NEW YORK (Reuters) - Qualcomm Inc's President Derek Aberle, under pressure from activist hedge fund Jana Partners to improve the licensing and chip design firm's stock performance, on Thursday sounded a cautionary note about a potential breakup of the company. Stressing that the board and management do not expect to complete a review of a possible split until the end of the year, Aberle told Reuters that Qualcomm agrees with Jana that its stock is undervalued. Aberle said that investors calling for a split are taking a "sum of the parts" analysis and believe that Qualcomm's two divisions - its highly profitable licensing arm and its chips unit - would be valued more highly as independent companies.
Thu, 03 Sep 2015 18:28:50 -0400
Detroit Three show interest in UAW healthcare overhaul idea
The Detroit Three automakers are showing increased interest in the United Auto Workers union's proposal that they pool their healthcare systems, a sign that contract talks between the union and manufacturers are down to the big money issues. The UAW and bargainers for General Motors Co , Ford Motor Co and Fiat Chrysler Automobiles face a Sept. 14 deadline to negotiate new labor agreements for 142,000 U.S. workers. Rising healthcare costs have emerged as a stumbling block in the way of raises for blue collar workers.
Thu, 03 Sep 2015 18:38:48 -0400
Gun maker Colt says near deal to exit bankruptcy
Gun maker Colt Defense and its creditors are close to a deal on a plan to bring the company out of bankruptcy, but if it fails, the business will go on the auction block next month, a company lawyer told a judge on Thursday. The company's private equity owner has been battling its bondholders for control of the West Hartford, Connecticut-based business, and the parties are pressured by Colt's dwindling cash. "It's fair to say the parties are very close to a deal," Colt lawyer John Rapisardi told the U.S. Bankruptcy Court in Wilmington, Delaware.
Thu, 03 Sep 2015 13:30:07 -0400
Chipotle critic turns up heat with 'Chubby Chipotle' ad
Chipotle Mexican Grill Inc , known for its indulgent burritos, is battling a "Chubby Chipotle" ad campaign from the food industry group whose "Nanny" ads helped sink New York City's ban on super-sized sugary drinks. The Center for Consumer Freedom's full-page advertisement in Thursday's New York Post depicts a smiling, shirtless, overweight young man flexing one arm and resting the other on his ample tummy. It urges consumers to find out more at ChubbyChipotle.com, a site that calls the company's executives "fast food hypocrites" for claiming that Chipotle's menu is GMO-free and for bending their own rules on "no antibiotics ever".
Thu, 03 Sep 2015 17:50:05 -0400
B&G to buy General Mills' Green Giant frozen foods business
Growth in the frozen vegetables category has been sluggish in recent years as consumers shift to fresher items. This has led to companies scaling back marketing spend on frozen foods. B&G plans to double the amount General Mills has been spending on marketing the Green Giant brand, B&G Chief Executive Robert Cantwell said on a conference call.
Thu, 03 Sep 2015 12:51:58 -0400
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