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  • Vodafone picks BofA, Kotak, UBS, other banks for India IPO: sources

    A retail shop owner speaks on his mobile phone outside his closed shop shutters painted with an advertisement for Vodafone in ChennaiSINGAPORE/HONG KONG, April 30 (Reuters) - British telecoms operator Vodafone has picked Bank of America Merrill Lynch (BofA), Kotak Investment Banking and UBS as joint global coordinators of its Indian unit's IPO, people familiar with the matter said, kicking off its long-awaited listing plan. The IPO is expected to raise between $2 billion?$2.5 billion, Reuters previously reported, which, at the upper end, would make it India's biggest stock market listing since state-owned Coal India Ltd raised $3.5 billion in 2010. Deutsche Bank, HSBC and ICICI Securities have won joint book-runner roles, the people added, declining to be identified as the information is not public.

  • With weak earnings in tow, focus turns to jobs data

    Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New YorkComing off a barrage of flimsy company earnings reports that included Apple's first revenue drop in 13 years, investors will turn to April jobs data for signs of budding resilience or further weakening in the second quarter. U.S. nonfarm payrolls, unemployment and wages data are due Friday May 6, when the economy is expected to have added 200,000 jobs in April, with the unemployment rate unchanged at 5 percent and a wage increase of 0.3 percent, according to Reuters data. Unlike in recent months, where weak jobs numbers were counted on to stave off another Federal Reserve interest rate hike, investors are now itching for better-than-expected employment data to indicate a stronger next earnings season, analysts said.

  • US growth worries cloud global stock markets

    Europe's main stock markets were lower, despite official data showing that growth in the eurozone strengthened far beyond expectations in the first quarter, as traders focused on deflation worries across the single currency blocTraders dumped retail US stocks Friday, with giant Walmart losing 3.0 percent, after a weak report on American consumer spending added to worries about the strength of the economy. Wall Street's losses -- the Dow fell 0.3 percent and the Nasdaq dropped 0.6 percent -- capped a day in which nearly all leading markets tumbled. While the Tokyo market was closed, Hong Kong shares sank 1.5 percent, Frankfurt fell 2.7 percent, and London 1.3 percent.

  • Wall Street falls as earnings weigh; Dow, S&P up for month

    Traders work on the floor of the NYSEBy Rodrigo Campos NEW YORK (Reuters) - U.S. stocks posted their largest weekly drop in more than two months on Friday as earnings reports continued to weigh, but the S&P 500 and Dow managed to close up for April after strong showings mid-month. Company results once more gave the market direction as a 9 percent decline in Gilead Sciences shares weighed the most on both the S&P and the Nasdaq Composite. Apple and Gilead, alongside Corning , Goodyear and Xerox are among the companies that reported earnings this week and are closing them with double-digit declines in their stock.

  • Yen posts biggest weekly gain since 2008, stocks slip

    Japanese 10,000 yen notes line up in Tokyo, in this picture illustrationBy Herbert Lash NEW YORK (Reuters) - The yen hit an 18-month high on Friday as investors bet the Bank of Japan might be done adding stimulus to the economy, while stocks in Europe and on Wall Street headed lower as earnings disappointed. The yen posted its biggest weekly gain since the 2008 financial crisis, also spurred by a weak reading of U.S. economic growth in the first quarter on Thursday and the Federal Reserve's cautious tone this week. The yen has gained 3 percent since Thursday when the BOJ decided to hold monetary policy steady in the face of soft global demand and the yen's recent sharp rise.

Quote of the Day

Sooner or later those who win are those who think they can. - Richard Bach

Today's Word


Brave; courageous; determined.

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