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Updated: 3 years 3 weeks ago

Toyota China car sales weak in first quarter

Wed, 04/01/2015 - 12:55
The results, announced by Toyota on Wednesday, amounted to what a company spokesman called a surprisingly weak showing by Japan's top automaker in the world's biggest auto market. Takanori Yokoi, a Beijing-based Toyota spokesman, said the newly redesigned Corolla and Levin models sold well during March, but sales of both the RAV4 crossover SUV and the Vios compact car were particularly disappointing. Yokoi blamed the big year-on-year slide in March sales mostly on the fierce competition those two car models faced in China. He cited, for example, dealers discounting competitive cars such as the Honda CR-V crossover, creating competition for the Toyota RAV4 and eating into its sales.
Categories: Business

Live: Wall Street's April Fools; Go Daddy's IPO; Walmart's political stand

Wed, 04/01/2015 - 12:55
The bulls and bears are playing a bit of an April Fool's joke on investors. Plus, Go Daddy goes big in its initial public offering. And Walmart takes the battle over religious freedom laws to its home state's capital.
Categories: Business

Gloomy China, Japan data add to pressure for stimulus

Wed, 04/01/2015 - 12:55
China and Japan reported gloomy industrial data Wednesday, adding to pressure on leaders of the world's second- and third-largest economies to launch new stimulus. Two surveys showed Chinese manufacturing ...
Categories: Business

GoDaddy Is Said to Price IPO at $20 a Share

Wed, 04/01/2015 - 12:55
(Bloomberg) -- GoDaddy Inc. raised $460 million in an initial public offering after pricing its shares above the marketed range. The 18-year-old company, which provides domain-name registration and hosting ...
Categories: Business

Solid start to second quarter for European stocks, dollar

Wed, 04/01/2015 - 10:55
European stock markets made solid starts to the second quarter on Wednesday as data pointing to a gradual recovery in the euro zone economy gave investors fresh impetus after their blowout first few months of the year. Europe's benchmark FTSEurofirst 300 (.FTEU3) recovered from a early wobble to put London's FTSE (.FTSE) Germany's DAX (.GDAXI) and France's CAC (.FCHI) up 0.5, 0.3 and 0.5 percent higher respectively as core bond markets yields nudged higher. Crude oil prices (LCOc1) (CLc1) maintained their decline as an extension of talks between Iran and world powers on Tehran's nuclear capabilities drove hopes of an agreement that could also ease export sanctions on the OPEC member. Currency markets were mostly knocking about in recent ranges after a tumultuous few months.
Categories: Business

Weak demand hits China factory, services firms in March, more easing seen

Wed, 04/01/2015 - 10:55
BEIJING/SHANGHAI (Reuters) - Surveys of China's factory and services sectors showed stubborn weakness in the world's second-biggest economy in March, adding to bets that Beijing will have to roll out more policy support to avert a sharper slowdown. Three separate surveys showed Chinese companies shed jobs last month as they struggled with soft demand and deflationary pressures, suggesting that economic growth may have slipped below 7 percent in the first quarter of 2015, which would be the weakest in six years. "We expect first-quarter growth to drop to 6.8 percent and the government might start easing policies significantly in the second quarter," said Zhang Zhiwei, an economist at Deutsche Bank in Hong Kong, adding that the central bank may relax banks' reserve requirement ratio (RRR) as early as this week or next. "Growth faces headwinds from the property slowdown and a fiscal slide," said Zhang, referring to a fall-off in government revenues that many worry could further dampen economic growth by crimping investment.
Categories: Business

China says Taiwan welcome to join AIIB with appropriate name

Wed, 04/01/2015 - 10:54
China welcomes Taiwan's decision to apply to join the Beijing-led Asian Infrastructure Investment Bank (AIIB) as long as the self-ruled island uses an appropriate name, state news agency Xinhua reported on Wednesday. China's Taiwan Affairs Office has received Taiwan's letter of intent to join and has passed it to the AIIB's interim secretariat, Xinhua cited Taiwan Affairs Office spokesman Ma Xiaoguang as saying.
Categories: Business

GoDaddy IPO values company at $4.5 billion

Wed, 04/01/2015 - 08:55
At this price, the IPO would raise $440 million. A GoDaddy spokesman did not immediately respond to a request for comment. Etsy Inc, which operates a website that sells handmade goods and craft supplies, said Tuesday its initial public offering was expected to be priced at $14-$16 per share, valuing it at $1.78 billion.
Categories: Business

Weak demand in Asia calls for more stimulus

Wed, 04/01/2015 - 08:55
Three separate surveys of China's factory and services sectors released on Wednesday showed stubborn weakness in the world's second-biggest economy, putting the government's newly minted growth target of around 7 percent for the year at risk. The official Purchasing Managers' Index ticked up to 50.1 in March from 49.9 in February, but a separate private survey from HSBC which focuses on small and mid-sized firms showed factory activity contracted after two months of recovery. With their indexes hovering around the 50 level that separates a contraction in activity from an expansion, both reports indicate economic conditions remain sluggish, which may well be reflected in China's first-quarter growth figures on April 15. We believe this suggests that more easing measures, particularly monetary easing measures, will be rolled out," said Qu Hongbin, HSBC's chief China economist.
Categories: Business

Oil prices edge lower as Iran talks extend beyond deadline

Wed, 04/01/2015 - 08:55
Oil futures edged lower on Wednesday amid speculation that a last-minute deal over Iran's nuclear program would be reached that could allow more Iranian crude into world markets. Talks between Iran and six world powers to settle a dispute around Tehran's nuclear program extended beyond a Tuesday deadline, as the parties edged towards a deal but failed to agree on crucial details such as the lifting of U.N. sanctions. China's foreign minister, Wang Yi, said on Wednesday there was "significant progress in core issues" in talks with Iran. Russian Foreign Minister Sergei Lavrov said a general agreement had been reached over all key aspects of a future deal, TASS news agency quoted him as saying.
Categories: Business

Japan's Sony Corp. halves stake in Olympus

Wed, 04/01/2015 - 08:55
Japan's Sony Corp has halved its stake in camera and endoscope maker Olympus Corp and is no longer its top shareholder, according to Olympus. Sony now owns 5 percent of Olympus shares compared to 10 percent ...
Categories: Business

Ex-Fannie Mae CEO testifies in $1 billion mortgage trial of Nomura, RBS

Wed, 04/01/2015 - 08:54
Former Fannie Mae (FNMA.OB) CEO Daniel Mudd testified on Tuesday in a $1 billion civil trial over losses the company suffered on mortgage-backed securities and said it did not predict the severe decline in U.S. housing prices during the financial crisis. Mudd appeared in Manhattan federal court after being subpoenaed by Nomura Holdings Inc and Royal Bank of Scotland Group Plc (RBS.L) to testify in a trial pursued by Fannie's conservator, the Federal Housing Finance Agency. His testimony came as the defense sought to show that any losses Fannie Mae and Freddie Mac suffered on the $2 billion in securities at issue were caused not by any false statements the banks made but by the collapse in the housing market.
Categories: Business

New York court dismisses foreclosure lawsuit against HSBC

Wed, 04/01/2015 - 08:54
The lawsuit, filed in 2013 by New York Attorney General Eric Schneiderman, alleged HSBC violated a state law requiring lenders to file paperwork, known as a request for judicial intervention, which entitles homeowners to settlement conferences within 60 days to negotiate loan modifications. Justice John Michalski of New York State Supreme Court in Buffalo dismissed the case on Monday, ruling that HSBC's delay or failure in filing the administrative paperwork was procedural, not substantive, and did not qualify as an "illegal act," according to a copy of the decision seen by Reuters.
Categories: Business

Berkshire's Buffett says Grexit 'may not be bad' for euro zone: CNBC

Wed, 04/01/2015 - 06:54
Warren Buffett, the billionaire chief executive officer and chairman of Berkshire Hathaway Inc, said Tuesday that an exit by Greece from the euro zone could be constructive for the region. "If it turns out the Greeks leave, that may not be a bad thing for the euro," Buffett told cable television network CNBC. He said a Greek exit from the euro zone could lead member countries to come to better agreement about fiscal policy. "If everybody learns that the rules mean something and if they come to general agreement about fiscal policy among members or something of the sort, they mean business, that could be a good thing," Buffett said.
Categories: Business

RadioShack co-branding of stores with Sprint wins court approval

Wed, 04/01/2015 - 05:55
The stores are what survived of more than 4,000 outlets after RadioShack went bankrupt in February. Judge Brendan Shannon, in Delaware bankruptcy court, approved a sale of the stores to the Standard General hedge fund, which plans to keep most of them open under a deal in which Sprint will occupy one-third of each space.
Categories: Business

5 reasons to avoid the GoDaddy IPO

Wed, 04/01/2015 - 03:55
GoDaddy priced its initial public offering at a higher-than-marketed $20 a share late Tuesday. However, the Web services firm can be a particularly perilous investment.
Categories: Business

Trading the oil pullback: 5 plays on volatility

Wed, 04/01/2015 - 03:55
CNBC "Fast Money" traders picked their best plays on the continued up-and-down movement in oil prices.
Categories: Business

U.S. stock-index futures fall sharply in late trade

Wed, 04/01/2015 - 03:55
The first quarter wrapped on Tuesday with the...
Categories: Business

Bulls feed on M&A, buybacks and IPOs

Wed, 04/01/2015 - 03:55
While the first quarter was a volatile one, the market is poised to end it higher than it began. What's behind the rise?
Categories: Business

Etsy launches IPO roadshow, to sell 16.6 million shares at $14 to $16

Wed, 04/01/2015 - 03:55
NEW YORK (MarketWatch) -- Online crafts retailer Etsy Inc. said Tuesday it is launching the roadshow for its initial public offering on April 1. The company is planning to offer 16.6 million shares to ...
Categories: Business