CA-BUSINESS Summary

Asian shares track Wall Street lower as Fed meeting looms

TOKYO (Reuters) - Asian shares inched lower and the dollar remained defensive on Monday as investors settled in to wait for the U.S. Federal Reserve meeting outcome later in the week - and some long-awaited clarity on its intentions for monetary stimulus. Wall Street fell on Friday for its third negative week in four as investors took profits, and the dollar posted its worst week in almost four years against the yen as data showed the U.S. economic recovery still lacked strength to warrant an imminent change in the Fed's current accommodative policy.

Analysis: Why bankrupt W.R. Grace is thriving

COLUMBIA, Md./NEW YORK (Reuters) - A company stuck in bankruptcy for 12 years may not seem like much of a catch, but investors have fallen in love with U.S. specialty chemical manufacturer W.R. Grace & Co and its surging sales to the energy sector. One of the longest bankruptcies in U.S. history, Grace filed for Chapter 11 protection in 2001 after an asbestos leak at one of its mines led to thousands of lawsuits against the company.

Samsung analysts ask hard questions as S4 marketing charm wears off

SEOUL (Reuters) - Analysts fell under Samsung Electronics Co Ltd's marketing spell when they made what they now admit were hopelessly optimistic forecasts for its smartphone sales. Samsung's huge share of the high-end smartphone market also persuaded some analysts to downplay industry data pointing to a fast-saturating segment, a reality that is already eating into sales of Apple Inc's iPhone 5.

Analysis: Japan PM Abe's true test; rising government bond yields

TOKYO (Reuters) - Abenomics' massive monetary stimulus was supposed to depress long-term interest rates to spur economic activity, but the Japanese government bond market has other ideas. Banks, unable to make money on their Japanese government bonds (JGBs) anymore, have begun sloughing off their holdings, putting upward pressure on yields. Major banks sold off about 11 percent of their holdings in April alone.

Jet engine makers battle over performance

PARIS (Reuters) - Engine makers for next-generation Airbus and Boeing narrow-body jets stepped up their war of words on Sunday, claiming their new power plants will burn less fuel than current models plus last longer without maintenance and create less noise than their rival's. CFM International, the engine maker for about three-quarters of the orders for next-generation Airbus and Boeing narrow-body jets, said its LEAP engine will deliver 15 percent lower fuel burn and 2 percent to 3 percent lower operating costs compared with comparable current engines.

Hollande rules out early France Telecom, GDF share sales

PARIS (Reuters) - French President Francois Hollande on Sunday ruled out an early sale of any state holdings in France Telecom or utility GDF Suez , saying market valuations were too low. "For France Telecom or GDF Suez, we are not selling because we consider that the share price is not high enough," Hollande told M6 television in an interview.

Big Lots may rebound as new CEO, sales moves take hold: Barron's

(Reuters) - Big Lots Inc , the nation's largest closeout retailer whose shares have fallen 30 percent from their high in March 2012, deserves a closer look from investors now that the company has a new chief executive and is taking initiatives to boost sales, Barron's said. Sales of the company, whose 1,505 U.S. stores are mainly located in strip malls, have been under pressure for the past two years from the weak economy and higher gasoline prices, the newspaper said.

Cheap foreign loans spur India's outbound M&A march

MUMBAI/HONG KONG (Reuters) - Foreign banks are fuelling India's recent burst of overseas takeover bids, offering cheap U.S. dollar loans to Indian corporates hungry to expand beyond their home state. The stream of financing offers from banks such as Standard Chartered , Citigroup and Deutsche Bank comes after some U.S. and European lenders pulled back from the Indian market last year as the country suffered through an economic slump.

Barriers to homeownership dividing Britain, youth say -survey

LONDON (Reuters) - Most young Britons say rising barriers to home ownership are dividing the country socially and economically, and one in five has abandoned the dream of ever owning a property, a survey by mortgage provider Halifax said. Over 70 percent of 8,051 survey respondents said the country was being split between those who could and those who couldn't buy a home, which in the long run could impact neighborhoods, families and the job market, the Lloyds Banking Group-owned lender said on Monday.

Brookfield to sell assets to Weyerhaeuser, KapStone for $3.68 billion

(Reuters) - Brookfield Asset Management Inc said it will sell its Longview Timber holdings in the U.S. Pacific Northwest to Weyerhaeuser Co for $2.65 billion, including assumption of debt, and will sell a nearby paper and packaging business to KapStone Paper and Packaging Corp for $1.025 billion. Brookfield's Longview Fibre Paper and Packaging operations include a large paper mill in Longview, Washington and seven container plants in the region that produce Kraft paper, container board and corrugated boxes. Brookfield said it expects net proceeds from that transaction of about $250 million, after repaying debt and distributions to other investors.

Source: http://news.yahoo.com/ca-business-summary-004034914.html

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