Archive for May, 2010
Debt fears dog euro; China PMI, Australia rates in focus
By Anirban Nag SYDNEY (Reuters) – The euro slipped on Tuesday, showing its continued vulnerability to a broader sell-off on fears that the region’s sovereign debt problems could spread to the banking system. The Australian dollar was marginally higher ahead of April retail sales data and the Reserve Bank of Australia’s (RBA) monetary policy board meeting, both due on Tuesday.
Rescuers dig after Central America storm kills 113
By Daniel LeClair AMATITLAN, Guatemala (Reuters) – Stunned victims of Tropical Storm Agatha wept by destroyed homes and rescue crews dug bodies out of mud in Guatemala on Monday after torrential rain killed at least 113 people across Central America.
UPDATE 1-Russia-EU summit to display warmer ties, pragmatism
* Kremlin wants EU to scrap visa requirements for Russians * Europe seeks to reverse fall in trade, eyes euro support (Adds U.S.
Obama to meet oil spill commission heads on Tuesday
WASHINGTON (Reuters) – President Barack Obama will hold his first meeting Tuesday with the co-chairs of his new Gulf of Mexico oil spill commission, former Senator Bob Graham and former Environmental Protection Agency chief William Reilly, an administration official said.
UK’s NICE rejects Novartis’s Xolair for children
* Drug too pricey, shows little extra benefit -NICE * Follows FDA rejection in November LONDON, June 1 (Reuters) – Novartis’s (NOVN.VX: Quote , Profile , Research ) asthma drug Xolair will not be paid for by Britain’s national health service (NHS) after the National Institute for Clinical Excellence (NICE) cost watchdog rejected it on Tuesday as too expensive.
UPDATE 1-Greece could proceed with T-bill auction in July-finmin
* Finmin: Greece could make return to markets in July * “Everything will depend on yields” (Adds quotes, details) ATHENS, June 1 (Reuters) – Greece could launch a treasury bill auction in July, marking its first return to the markets since it was awarded an aid package by the European Union and the International Monetary Fund, its finance minister said.
Oil climbs above $74, ending worst month since 2008
By Barbara Lewis LONDON (Reuters) – Oil climbed above $74 per barrel on Monday in line with a timid recovery across financial markets, but still logged its biggest monthly loss in 18 months after the European economic crisis raised the prospect of reduced fuel demand. The euro rose modestly against the dollar and Asian and European markets edged higher, but they remained under pressure following Fitch’s downgrade of Spain’s credit rating on Friday. Chinese Premier Wen Jiabao on Monday underlined the possibility of more bad news to come, saying global growth was still vulnerable to sovereign debt risks.
UPDATE 2-Spain vows labour reform by June with deal or not
* IMF chief praises austerity plan * Labour reform talks resume after deadline extended * Business boss says deep differences remain (Adds business leader saying talks to continue) By Sarah Morris MADRID, May 31 (Reuters) – Spain aims to pass a long-awaited labour market reform before the end of June, with or without an agreement with unions and business leaders, Economy Minister Elena Salgado said on Monday.
Canada recovery zooms, rate hike widely expected
By Louise Egan OTTAWA (Reuters) – Canada’s economy expanded at the fastest clip in more than a decade in the first quarter, fueling expectations that on Tuesday the Bank of Canada will become the first G7 country to raise interest rates since the start of the recession.
CANADA STOCKS-TSX closes higher on GDP data, commodities
TORONTO, May 31 (Reuters) – Toronto’s main stock index closed higher on Monday as firm commodity prices and robust first-quarter GDP data underpinned market confidence. The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE: Quote , Profile , Research ) unofficially closed up 61.36 points, or 0.53 percent, at 11,732.80. (Reporting by Claire Sibonney; Editing by Peter Galloway)
