The Other Side of Life 24/7: 07/04/14

Friday, July 4, 2014

Daily Investor Briefing: Double-digit profit growth may return...

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07/4/2014

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Double-digit profit growth may return in second quarter

NEW YORK (Reuters) - With all the hoopla over the Dow topping 17,000 out of the way, the market's next focus will be whether the fast-approaching earnings season can justify U.S. stocks climbing further into record territory.

GM suspends South African output as striking union spurns offer

JOHANNESBURG/CAPE TOWN (Reuters) - General Motors suspended production at its main South African plant after a strike hit parts supplies, the U.S. automaker said on Friday, becoming the latest victim of relentless labor unrest in Africa's most advanced economy.

Spain's Telefonica buys Mediaset Espana stake in Canal+

MADRID (Reuters) - Telefonica said on Friday it had agreed to buy the 22 percent stake held by Mediaset Espana in pay-TV firm Distribuidora de Television (DTS), giving full ownership of the TV firm to the telecoms group.

U.S. 'concerned' about being barred from GSK-linked China trial

SHANGHAI (Reuters) - The United States is worried that its officials have been barred from attending the Aug. 7 trial in China of British investigator Peter Humphrey and his American wife Yu Yingzeng after the couple were arrested last year following work they did for British drugmaker GlaxoSmithKline PLC.

Argentina gets set for debt talks by calling U.S. judge biased

BUENOS AIRES (Reuters) - Argentina on Friday accused a U.S. judge of being biased in favor of hedge funds that have sued the South American country for full repayment of defaulted bonds, cementing the tough stance it has taken ahead of debt talks set for New York next week.

World stocks hold at all-time high after bumper week

LONDON (Reuters) - World stocks were enjoying the view at an all-time high on Friday, lifted by a week of strong U.S. economic data and promises from the European Central Bank that cheap money will be sloshing around for years.

EU widens tax probe into multinationals: source

LUXEMBOURG/BRUSSELS (Reuters) - The European Commission is widening its probe into how multinationals use countries such as Luxembourg to cut their tax bill, an official with knowledge of the matter said on Friday.

Accusations fly in Bulgaria's murky bank run

SOFIA (Reuters) - One worker at Bulgaria's Corporate Commercial Bank knew panic was setting in when she spotted colleagues among the anxious depositors lined up to withdraw cash from the troubled bank.

Apple poaches another luxury executive as iWatch nears

PARIS (Reuters) - Apple has poached a senior executive from Swiss luxury watch brand Tag Heuer, which could be to help it with the launch of its iWatch expected this autumn.

Honda says to expand U.S. regional air bag recall to include California

TOKYO (Reuters) - Honda Motor Co is expanding to the state of California a U.S. regional recall of vehicles over potentially explosive air bags made by Takata Corp, the automaker said on Friday, after a complaint that said a driver was injured in an accident in the state.