News from the Financial Market
UPDATE 1-BOJ holds steady despite bond turmoil, upgrades economic outlook
* BOJ hopes to contain JGB turbulence via market operations
Reuters - 2013-05-22 Read more
Prosecutors consider using racketeering law against SAC: source
NEW YORK (Reuters) - Prosecutors are considering charging Steven A. Cohen's SAC Capital Advisors as a criminal enterprise engaged in a long pattern of insider trading in stocks, according to a person familiar with the matter.
Reuters - 2013-05-22 Read more
Ford adds production in North America to meet new car demand
DETROIT (Reuters) - Ford Motor Co is adding a week of production at 20 North American factories this year to build an additional 40,000 vehicles and help sustain its gains in U.S. market share.
Reuters - 2013-05-22 Read more
Apple CEO makes no apology for company's tax strategy
WASHINGTON (Reuters) - Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in U.S. taxes through Irish subsidiaries and told lawmakers that his company backs corporate tax reform, even though it may end up paying more.
Reuters - 2013-05-22 Read more
BOJ keeps policy on hold; Kiuchi proposes looser price target timeframe
TOKYO (Reuters) - The Bank of Japan on Wednesday decided to keep monetary policy on hold, but one board member tried unsuccessfully to loosen the central bank's commitment to achieving its 2 percent inflation target within two years.
Reuters - 2013-05-21 Read more
FOREX-Dollar treads water as investors hold breath for BOJ, Bernanke testimony
TOKYO, May 22 (Reuters) - The dollar hovered some way below last week's 4-1/2-year high against the Japanese currency, after being dampened by hints from two U.S. Federal Reserve regional presidents...
Reuters - 2013-05-21 Read more
Merck signs $5 billion share buyback agreement with Goldman Sachs
(Reuters) - Merck & Co Inc said it has entered into a $5 billion share repurchase agreement with Goldman Sachs Group Inc, as the drug giant looks to prop up shareholder value in face of stiff competition from makers of less-costly generics.
Reuters - 2013-05-21 Read more
GLOBAL MARKETS-Asian stocks cheered by Fed reassurance, yen awaits BOJ
* Fed officials play down speculation of ending stimulus anytime soon
Reuters - 2013-05-21 Read more
Japan exports disappoint, full benefits of weak yen yet to show
TOKYO (Reuters) - Japan's exports rose less than expected in April from a year earlier due to weak demand from Europe and China, highlighting the challenges confronting the world's third-biggest economy as policymakers try to engineer a sustained revival.
Reuters - 2013-05-21 Read more
The Irish loophole behind Apple's low tax bill
LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has hinged on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs.
Reuters - 2013-05-21 Read more