MARKETS / FINANCE

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Yahoo expands offering on Samsung phones

Yahoo Inc has struck a deal to expand the role of its services on cellphones of the world's second-largest handset maker Samsung, as the two battle larger rivals on the wireless market.

General Growth bankruptcy exit plan hearing delayed

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Mall owner General Growth Properties Inc said a U.S. Bankruptcy Court hearing scheduled for Thursday has been rescheduled to next week, giving it more time to talk to larger rival Simon Property Group Inc and other potential investors.
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Treasury begins sale of Citigroup stake

The U.S. Treasury on Monday plans to start selling off its 27 percent stake in Citigroup , the latest step in the Obama administration's effort to end unpopular bailout programs.
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BlackRock clients move to passive funds, shares fall

BlackRock Inc , the giant money management firm, reported weaker-than-expected quarterly earnings as its funds businesses saw outflows and customers shifted to passive funds over more actively-managed ones.
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Bank leader sees financial reform passing

Republicans will eventually vote for financial reform, paving the way for the completion this year of a massive rewrite of rules for banks and financial markets, the head of the American Bankers Association said on Monday.
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Caterpillar's first quarter beats Street, raises outlook

Caterpillar Inc reported a stronger-than-expected quarterly profit on Monday and raised its full-year profit and sales forecasts, citing an improving global economy, especially in Asia and Latin America.
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Derivatives differences trigger alarm bells

Differences over how Europe and the United States plan to regulate derivatives is muddying the picture for buyers, who could be saddled with higher costs, a top industry official told the Reuters Global Financial Regulation Summit.
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Markets hammer Greek debt, Germany sets tough terms

Germany said on Monday it could offer aid for Greece within days if it agreed to painful new austerity measures, but rescue jitters pushed the cost of insuring against a Greek debt default to a record high.
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BlackRock earnings miss estimates, shares fall

BlackRock Inc ., the giant money management firm, reported weaker-than-expected quarterly earnings as its quantitative and cash management funds businesses saw outflows.
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Financial reform nears test in Senate

The most sweeping overhaul of financial regulation since the Great Depression was on track to fail its first procedural test on Monday in the Senate, where Republicans vowed to block the Democratic bill.
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Germany sets tough terms, markets hammer Greek debt

Germany set tough terms on Monday for Greece to secure emergency aid, increasing uncertainty over a financial rescue that pushed the cost of insuring against a Greek debt default to a record high.
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Germany wants Greek aid ready by May 19

Germany called on Monday for a financial rescue to be ready for Greece by a May 19 debt deadline after uncertainty over the terms and implementation of the aid package pushed Athens' borrowing costs up to a 12-year high.
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More firms anticipate payrolls growth

More U.S. companies plan to increase their work force over the next six months, a survey showed on Monday, which could lead to a stronger recovery.
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Banks face pressure to get dull

If the U.S. Congress approves financial regulation reform -- and that looks likely to happen soon -- banking stands to become a duller business.
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Germany, markets increase pressure on Greece

Uncertainty over an aid package for Greece pushed up its borrowing costs to a 12-year high on Monday, with demands from Germany for further austerity measures before aid is granted heightening the tension.
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Germany's CDU keeps pressure on Greece over aid

German Chancellor Angela Merkel's ruling coalition will back Greek aid because the euro's future is at stake, but Greece must first prove it is tackling its budget deficit, a senior official in her party said.
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CFTC gets political lift for energy position limit plan

Some of the biggest players in U.S. energy markets have told the Commodity Futures Trading Commission that its proposal to curb speculation is misguided and will drive investors to overseas and unregulated markets.
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Chavez says Venezuela GDP may shrink again in 2010

Venezuela's economy could shrink for the second consecutive year in 2010, President Hugo Chavez said on Sunday, reversing an earlier forecast of growth in a sign the OPEC nation is struggling to recover from recession.
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Nielsen to begin hiring bankers for IPO: report

Nielsen, the world's largest TV and consumer measurement company, plans to begin hiring bankers for its initial public offering, the Financial Times reported on Sunday.
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PBOC can't hit both inflation and yuan goals: adviser

The People's Bank of China must choose between preserving domestic price stability and defending the yuan's fixed exchange rate as it is not possible to hit both targets at once, an adviser to the central bank said on Sunday.
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IMF to keep mulling how to make banks pay for bailouts

The International Monetary Fund pledged on Sunday to keep working on plans to make bankers bear the burden of their own bad behavior and not to lose heart over opposition to their first ideas for a global bank tax.
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Fed to extend extended period

With official interest rates near zero and the Federal Reserve unable to cut them any further, every policy meeting by definition brings the central bank one step closer to an eventual monetary tightening.
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China gains clout in World Bank vote shift

China overtook large European nations in a shift in voting power at the World Bank on Sunday that was designed to give emerging economies greater influence in the global development institution.
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Greece expects aid rescue in time, no default

Greece's finance minister said Sunday aid will arrive in time to avert the euro zone's first sovereign debt default as signs grew that a 45 billion-euro ($60.49 billion) rescue would have to be bigger.
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UBS deal not to be tied to bonus issue: Swiss President

Switzerland's economy minister said she hoped parliament would not link a deal between UBS and the United States on disclosing secret bank accounts with questions such as bankers' bonuses, the newspaper Sonntag reported on Sunday.
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Senators near agreement on financial regulation

Senators negotiating financial regulatory reform legislation said on Sunday they were close to a bipartisan agreement, as the White House said fraud charges against Wall Street titan Goldman Sachs highlighted the need for reform.
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Profits still hold key; Greece's debt

Wall Street is heading into another earnings blitz this week and the prospects of strong results from bellwethers like Caterpillar Inc and 3M Co should propel indexes to new recovery highs.
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Greece sees aid coming fast enough to avert default

Greece's finance minister said on Sunday aid would arrive fast enough to avert a debt default as signs grew that a 45 billion euro ($60.49 billion) rescue package would have to be increased.
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Senators close to deal on financial regulation

Senators negotiating financial regulatory reform legislation said on Sunday they were close to a bipartisan agreement, but conceded they may not get a deal before a crucial Senate vote on Monday.
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Goldman emails show need for transparency: Summers

Emails sent by Goldman Sachs Group Inc's executives on money the firm made by betting against risky mortgage securities highlight the need for transparency in financial markets, senior White House adviser Lawrence Summers said on Sunday.
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UAE banks likely to take Dubai World hit in Q2

UAE banks are likely to face the brunt of the Dubai World restructuring in the second quarter, after the central bank told lenders they are not required to book provisions until there is more clarity.

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