Soft data, commodity prices take TSX to one-week low
TORONTO (Reuters) – Canada‘s main stock index retreated sharply on Friday as lower commodity prices triggered a slump in shares of natural resource companies and weak economic data out of Europe and the United States dampened investor sentiment. While almost every major sector declined, the index still looked on track for a gain in May, reversing losses in the previous two months.
DirecTV, two others bid over $1 billion for Hulu: source
(Reuters) – Satellite operator DirecTV
Digital currency firms rush to adopt anti-money laundering rules
NEW YORK/ST. LOUIS (Reuters) – These are unsettling times for digital currency businesses and the venture capitalists backing them. On Tuesday, authorities in Spain, Costa Rica and New York arrested five people at the digital currency firm Liberty Reserve, including its founder Arthur Budovsky, and seized related bank accounts and Internet domains.
RBS gives up fight, will hand over Libor documents to Canada
OTTAWA (Reuters) – The Royal Bank of Scotland Group
China May official PMI stronger than expected
BEIJING (Reuters) – China’s official PMI rose to 50.8 in May from 50.6 in April, data showed on Saturday, beating market expectations and raising optimism that the world’s second-largest economy may be stabilizing. Investors will get a fuller picture of the Chinese economy on Monday when the official services PMI is released along with the final HSBC survey that focuses on smaller private sector firms in the country.
SAC redemptions grow, as Magnitude Capital joins in
NEW YORK (Reuters) – Investor redemptions from Steven A. Cohen’s SAC Capital Advisors continue to mount, with Magnitude Capital emerging as the latest outside investor asking to get money back from the $15 billion hedge fund. Magnitude Capital, a fund of hedge funds that manages $3.1 billion of client money, began redeeming funds in the first quarter of this year and intends to submit another withdrawal notice for the second quarter, according to a person with knowledge of the investment.
NYSE asks SEC to reinstate volatility curbs
NEW YORK (Reuters) – NYSE Euronext
Exclusive: Founders seek more time for ENRC bid – sources
LONDON/MOSCOW (Reuters) – The three billionaire founders behind miner ENRC
Canada’s CVTech says it rejected takeover bids in January, March
(Reuters) – CVTech Group Inc
Canada GDP jumps to 2.5 percent growth in first quarter on exports
OTTAWA (Reuters) – Rising exports helped rouse the Canadian economy from a sluggish second half of 2012 to grow at an annualized rate of 2.5 percent in the first quarter of this year, the fastest pace in six quarters, Statistics Canada reported on Friday. The real growth rate was well above the Bank of Canada’s forecast in April of 1.5 percent, topped the median projection of 2.3 percent in a Reuters survey and outpaced U.S. growth of 2.4 percent for the quarter. Statscan also revised up fourth-quarter growth to 0.9 percent from 0.6 percent.