Asian shares ease, yen hits fresh lows against dollar
TOKYO (Reuters) – Asian shares eased on Monday with sentiment hit by selling in commodities triggered by a strong dollar, which rose to a fresh 4-1/2-year peak against the yen on the back of growing confidence in the U.S. economy. Losses in shares were likely to be limited after U.S. stocks rallied to record highs on Friday.
Analysis: Google+ struggles to attract brands, some neglect to update
SAN FRANCISCO (Reuters) – To mark the Cinco de Mayo holiday this year, Domino’s Pizza festooned its Facebook page with a string of posts, including an image of a Mexican-themed guacamole pizza that garnered over 2,000 “likes”. But visitors to Domino’s companion Google+ page on that day found less festive fare: The most recent post was from October 2012. Two years after introducing its social network, Google Inc is struggling to win over the brands and businesses that have been its most loyal customers in the Internet search market.
For banks in cyber heist, how to get their money back?
NEW YORK (Reuters) – Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $ 45 million ATM heist face an uncertain path in trying to recover their losses, financial, insurance and legal experts say. Oman-based Bank of Muscat lost $ 40 million and United Arab Emirates-based National Bank of Ras Al Khaimah PSC (RAKBANK) lost $ 5 million in the global heist, U.S. prosecutors said on Thursday.
Western Union shares could rise in coming years – Barron’s
NEW YORK (Reuters) – Western Union Co. , which facilitates long-distance money transfers between consumers and businesses, could see its shares rise to the low $ 20 range in the next few years, according to a Barron’s report. In its May 13 edition, Barron’s cited a recent reduction in Western Union’s rates as a catalyst for growth. It also said that business could expand as unemployment levels fall around the world, citing Ariel Investment analyst James Kenney.
Deutsche Telekom says U.S. listing helps it “attack” rivals: paper
FRANKFURT (Reuters) – Deutsche Telekom has given its U.S. operations more autonomy, positioning its business to compete better with bigger and smaller rivals, Chief Executive Rene Obermann told Germany’s Welt am Sonntag newspaper. In an effort to turnaround its U.S. business, which has lost customers to AT&T and Verizon , the German telecoms provider floated its operations there after merging its T-Mobile USA unit with MetroPCS Communications.
HSBC boss can do more to cut bank down to size
LONDON (Reuters) – HSBC’s sale of a stake in a Korean insurer last month was made with little fanfare, just one of 52 deals struck or businesses closed in the last two years by Chief Executive Stuart Gulliver, and analysts are expecting more. With less than a year left of his 3-year restructuring plan, Gulliver will report on how he is doing in meeting his targets on Wednesday.
Mixed signals for the global economy
WASHINGTON (Reuters) – A flood of data this week will paint a mixed picture of the global economy, with belt-tightening continuing to dampen activity in the euro zone, but accommodative policies helping to stimulate growth in Japan. Reports from the United States are expected to show some slowdown in momentum early in the second quarter, and the Chinese economy’s prospects are unlikely to have changed much.
Analysis: Bullish yuan herd leaves China fundamentals in the dust
SHANGHAI (Reuters) – Investors convinced China’s currency is once again a one-way bet upward should think again: signs of slowing economic growth could cut short the yuan’s rally. Investors and companies have been pouring funds into China in recent months, helping send the yuan to a series of record highs.
Germany pushing for faster reform in euro zone: magazine
BERLIN (Reuters) – Germany wants further reforms and savings in crisis-hit euro zone states, according to a report obtained by German magazine Spiegel in which Berlin evaluates progress made under strengthened EU budget rules. The rules have managed to spur in all euro zone countries a “general political mobilization towards structural reforms and greater competitiveness”, Spiegel cited the report as saying in its edition published on Sunday.
India IT watchdog investigating breach in ATM heist
MUMBAI/BANGALORE (Reuters) – The Indian government’s cyber watchdog is investigating how security at two companies that are part of the country’s vast IT services industry was breached in a global ATM heist that saw $ 45 million stolen from two banks in the Middle East. EnStage Inc, which operates from Bangalore, and ElectraCard Services, based in the Indian city of Pune, processed card payments for the two banks that were hit in the theft, several people familiar with the situation said.
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