May 12 [Sun], 2013, 2:22
Magna and Bombardier drive TSX higher

TORONTO (Reuters) - Canada's main stock index pushed higher on Friday as strong energy issues and surging shares of manufacturers Magna Internationaland Bombardier Inchelped extend the index's three-week run of gains. Auto parts maker Magna provided the index with its biggest single boost, jumping 3.6 percent to C$65.46 after reporting a higher-than-expected rise in first-quarter profit.

Chrysler recalls 469,000 SUVs worldwide over gearshift issue

(Reuters) - Chrysler Group LLC is recalling about 469,000 SUVs worldwide to update software after some vehicles' circuit boards were found to be transmitting signals that trigger inadvertent gearshifts to neutral, the No. 3 U.S. automaker said Saturday. Included are 2006- to 2010-model-year Jeep Commanders and 2005 to 2010 Jeep Grand Cherokees, of which about 295,000 are in the United States, 28,500 are in Canada and 4,200 are in Mexico. The remaining 141,000 are outside of North America.

Bloomberg CEO says client data access for reporters a mistake

(Reuters) - After reports that users of the company's financial terminals were investigating potential leaks of confidential information, Bloomberg LP CEO Daniel Doctoroff said that the company had made a "mistake" by giving journalists access to data on clients' terminal usage. The financial information and news company sought to assure its customers that Bloomberg News journalists will no longer have any information about what users of its terminals are accessing.

G7 to press on with bank reforms, Japan escapes censure

AYLESBURY, England (Reuters) - Group of Seven finance officials agreed on Saturday to redouble efforts to deal with failing banks and gave a green light to Japan's drive to galvanize its economy. British finance minister George Osborne said the finance ministers and central bankers meeting 40 miles outside London focused on unfinished bank reforms, with signs that plans for a euro zone banking union are fraying.

Exclusive: Indian card processor in $45 million heist is ElectraCard - sources

DUBAI/NEW YORK (Reuters) - One of the credit card processing companies whose security was breached in a $45 million global cyber heist was India's ElectraCard Services, according to two people familiar with the situation. ElectraCard Services processes prepaid travel cards for National Bank of Ras Al Khaimah PSC(RAKBANK), one of two Middle Eastern banks named by U.S. prosecutors on Thursday as victims of the heist, the people said.

BOJ chief expects no spike in long-term Japan interest rates

AYLESBURY, England (Reuters) - Japanese long-term interest rates should not shoot higher as a result of money flowing out of government bonds, Bank of Japan Governor Haruhiko Kuroda said on Saturday. Kuroda added, however, that it would be natural for long-term rates to rise over time if Japan meets its goal of pushing inflation up towards two percent.

ECB's Draghi says no call for G7 central banks to do more

AYLESBURY, England (Reuters) - Major central banks did not face calls to do more to boost the world economy when Group of Seven finance officials met on Saturday, European Central Bank President Mario Draghi said. Before the meeting Britain's finance minister, George Osborne, said ministers would "consider what more monetary activism can do to support the recovery" - something that he is keen for the Bank of England to do.

Canada recovers some of March's big job losses in April

OTTAWA (Reuters) - Canada gained a modest 12,500 new jobs in April and the unemployment rate held steady at 7.2 percent, Statistics Canada reported on Friday, the latest sign the economy is on track for only tepid growth in the second quarter. The increase in hiring, slightly lower than forecast, meant Canada recovered just some of the 54,500 jobs estimated to have been lost in March, making it unlikely the central bank will act anytime soon on its threat to eventually raise interest rates.

Exclusive: U.S. decision on Keystone XL pipeline seen dragging past summer

WASHINGTON (Reuters) - The Obama administration is unlikely to make a decision on the Canada-to-Nebraska Keystone XL pipeline until late this year as it painstakingly weighs the project's impact on the environment and on energy security, a U.S. official and analysts said on Friday. The decision may not be made until November, December or even early 2014, said a U.S. official, as President Barack Obama will not rush the process, which still has a number of stages to work through. One of those stages has not even begun yet and will run for months.

Icahn, Southeastern mount challenge to Dell buyout

NEW YORK/BOSTON (Reuters) - Carl Icahn and Southeastern Asset Management Inc have mounted an aggressive challenge to Michael Dell's controversial $24.4 billion offer to take Dell Incprivate, offering $21 billion in cash to shareholders while vying to wrest control of the company from its co-founder. Michael Dell, major shareholders such as Southeastern and billionaire activist investor Icahn are waging a battle over the future of the world's third largest personal computer maker, once a tech-industry high flyer, but now struggling to evolve as people embrace smartphones and tablet computers.