CA-BUSINESS Summary

Record Wall Street boosts sentiment, U.S. holds key in Q2

TOKYO (Reuters) - Whether the world's largest economy can sustain momentum will be a primary focus for investors for the next three months after a general recovery trend in the United States helped risk sentiment for broad markets in the first quarter of 2013. Asian shares edged higher and the euro steadied on Friday after banks in Cyprus reopened to relative calm. Overall trade was subdued, with many Asian markets, including Australia, Singapore and Hong Kong, closed on Friday for Easter holidays.

Banks lift TSX on Cyprus calm; index up for quarter

TORONTO (Reuters) - Canada's main stock index powered ahead in a late surge on Thursday, led by strength in financial and industrial shares, on relief that banks in Cyprus reopened relatively smoothly following a bailout deal. The market received further support from BlackBerry after the smartphone maker reported a surprise quarterly profit.

More trouble for Cohen's SAC Capital as Steinberg indicted in NY

(Reuters) - U.S. prosecutors on Friday charged Michael Steinberg, a veteran portfolio manager with Steven A. Cohen's $15 billion hedge fund, with engaging in insider trading in two technology stocks, the most senior SAC Capital Advisors employee to be charged in the government's long-running probe. The five-count indictment was announced a few hours after Federal Bureau of Investigation agents arrived at Steinberg's home in New York City at around 6 a.m. ET and arrested him.

Cyprus says threat contained, no plan to leave euro

NICOSIA (Reuters) - The president of Cyprus said on Friday the risk of bankruptcy had been contained and the country had no intention of leaving the euro, in a speech laden with criticism of Europe's currency union for "experimenting" with the island's fate. Conservative leader Nicos Anastasiades spoke a day after banks reopened following an almost two-week shutdown to avert a run on deposits by worried Cypriots and wealthy foreign depositors as the country raced to clinch a rescue package from the European Union.

Quarter of U.S. firms in China face data theft: business lobby

BEIJING (Reuters) - A quarter of firms that are members of a leading U.S. business lobby in China have been victims of data theft, a report by the group said on Friday, amid growing vitriol between Beijing and Washington over the threat of cyber attacks. Twenty-six percent of members who responded to an annual survey said their proprietary data or trade secrets had been compromised or stolen from their China operations, the American Chamber of Commerce in China report said.

Exclusive: Indonesia's CT Corp proposes all-cash deal for Bakrie's media unit

TANJUNG BENOA, Indonesia (Reuters) - Indonesia's fifth-richest man has proposed to buy a controlling stake in PT Visi Media Asia, valued at up to $1.8 billion, in an all-cash deal that would give him the lion's share of the TV advertising market in Southeast Asia's biggest economy. Chairul Tanjung, the billionaire founder and chairman of CT Corp, a conglomerate with banking and media interests, told Reuters that his company wanted to buy the stake in the media unit of Indonesia's powerful Bakrie family without any partners.

Deutsche Bank probe finds incomplete data given to prosecutors: magazine

FRANKFURT (Reuters) - An internal investigation at Deutsche Bank has found that incomplete data related to a carbon tax fraud probe were handed over to prosecutors, German magazine Der Spiegel said on Friday. The probe is one of several legal headaches with which Germany's biggest lender is grappling.

Sony, Olympus delay medical venture as regulatory approval on hold

TOKYO (Reuters) - Japan's Sony Corp and Olympus Corp have again delayed the start of a joint venture to develop medical equipment because they have yet to gain approval from some regulators. "The examination by the relevant authority is taking longer than expected," the two companies said in a statement. They did not set a new date for operations to start.

Commission considers good and bad of British banking

LONDON (Reuters) - The Archbishop of Canterbury has spent the run up to Easter contemplating the ethics of the trading floor and ways to curb greed in the City of London. Justin Welby, the spiritual leader of 80 million Anglicans, is one of an influential committee of British lawmakers looking at how to change the culture of an industry laid low by price manipulation, mis-selling and fraud.

Boeing CEO urges FAA to return 787 to service, delays continue

WASHINGTON (Reuters) - - Boeing Co Chief Executive Jim McNerney on Thursday urged regulators reviewing battery problems on the company's grounded 787 passenger jet to let the plane back into service, saying he was confident the redesigned battery was safe. He would not specify when he expected the jet to be flying customers again other than saying "sooner rather than later."

Source: http://news.yahoo.com/ca-business-summary-012855661--finance.html

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