CA-BUSINESS Summary

Upbeat U.S. jobs data lifts TSX to three-week high

TORONTO (Reuters) - Canada's main stock index rose more than 1 percent to hit a three-week high on Friday with gains across all major sectors as investors cheered a stronger-than-expected U.S. jobs report. Data showed U.S. employment rose more than expected in April, pushing the unemployment rate to a four-year low of 7.5 percent and easing concern that the economy faced a sharp slowdown.

Glencore woos investors with promise of aggressive cuts

LONDON (Reuters) - Glencore Xstrata told investors on Friday it would return excess cash, slash costs and might sell unwanted assets, raising expectations it would easily exceed planned synergies of $500 million from the deal that created the new group. Unveiling a management team packed with veteran Glencore executives, the group promised to "cut bureaucracy and duplication", vowing it would reduce administrative staff, cut divisional offices and underperforming projects to ensure success even at a time of cooling commodity prices.

BlackBerry Q10 sells strongly in Canada, Britain: analyst

TORONTO (Reuters) - BlackBerry's new Q10 smartphone, which comes with the physical keyboard that many BlackBerry fans prize, is selling well in both Canada and Britain, an industry analyst said on Friday. The company introduced the Q10, its second smartphone to run the new BlackBerry 10 operating system, in Canada and Britain this week.

Job market resilience eases growth concerns

WASHINGTON (Reuters) - Employment rose faster than expected in April and hiring was much stronger than previously thought in the prior two months, a sign of resilience that should help the economy bear the blow from belt-tightening in Washington. Nonfarm payrolls rose 165,000 last month and the jobless rate fell to 7.5 percent, the lowest level since December 2008, the Labor Department said on Friday. The job counts for February and March were revised up by a net 114,000.

Analysis: Court ruling may offer new path in market-data fee dispute

NEW YORK (Reuters) - At first blush the two leading U.S. stock exchanges won a sweeping victory this week in a long-running legal battle over market data - the stock quotes, share prices and other trading information that are highly prized in the electronic marketplace. But a ruling by the U.S. Appeals Court for the District of Columbia Circuit may also have opened the door for the Internet companies, brokers and others in the case to achieve a decade-old goal of cutting the fees the exchanges charge for the data.

Inflation angst evaporates in race for returns

LONDON (Reuters) - For all the trillions of dollars-worth in new money that central banks are printing, financial markets seem to be signaling that fears of rampant global inflation are unfounded. Over the past month, investors have devoured virtually any fixed income securities on offer, from the U.S. Treasury to tech giant Apple, debt-laden euro sovereigns Italy or Slovenia and even debut bonds from exotic African countries like Rwanda.

RBS pushes for sale of UK government stake

LONDON (Reuters) - State-backed Royal Bank of Scotland on Friday pushed for the British government to start selling its 82 percent stake as early as next year even though it could mean a loss for taxpayers. Chairman Philip Hampton said the aim was to have a business in strong enough shape to start preparing a prospectus with the government for a sale from the middle of 2014.

Analysis: New York preserves weapon against Wall Street in case of ex-AIG chief

NEW YORK (Reuters) - When New York Attorney General Eric Schneiderman gave up a claim for damages against former AIG chief Hank Greenberg, he also likely neutralized a long-awaited challenge to his office's power. New York's highest court is scheduled to hear arguments later this month in the case, in which Greenberg is accused of defrauding AIG investors.

Canada Pension Plan, Hammerson buy UK mall stake for $476 million

LONDON (Reuters) - Canada's Pension Plan Investment Board (CPPIB), one of the world's largest pension funds, and landlord Hammerson have bought a stake in a major British shopping center for 307 million pounds ($476 million). The 33.3 percent stake was bought from Australia's state pension fund, Future Fund, in a 50-50 joint venture, Hammerson said on Friday. Hammerson already owns a third of the Bullring shopping center in Birmingham and the purchase will take its ownership up to 50 percent.

Verizon says will not pay a premium for Vodafone stake: analyst

LONDON (Reuters) - Verizon Communications would like to buy out Vodafone from their Wireless joint venture but will not do so at any cost, its chief executive has told JP Morgan analysts, In a note to clients, analyst Philip Cusick said Verizon boss Lowell McAdam had said he did not believe a premium would be required to buy Vodafone's 45 percent stake in the highly successful Verizon Wireless business, because Verizon already had control through its 55 percent holding.

Source: http://news.yahoo.com/ca-business-summary-032819979.html

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