CA-BUSINESS Summary

Shares tumble, Bunds firm as volatility reigns

LONDON (Reuters) - European shares fell to their lowest level in a month on Monday in the face of uncertainty over how much longer the current U.S. stimulus would continue, while data underscoring the fragility of China's economy weighed on oil. European stocks <.fteu3><.stoxx50e> followed a fresh dive on Asian markets to fall 1 percent, as the week, which includes key U.S. jobs data and the monthly meetings of the European Central Bank and Bank of England, got underway.

Asian factories cool as export orders slide

BEIJING (Reuters) - Asia's factory sector lost momentum in May as new export orders in the trading bellwethers of China, Taiwan and South Korea fell or cooled, reinforcing the view that the world economic outlook is dimming in the second quarter. The HSBC China purchasing managers' index (PMI) fell in May to 49.2, the lowest level since October 2012 and down from April's final reading of 50.4. A reading below 50 suggests a contraction in activity from the previous month, while a reading above that level points to expansion.

U.S. takes Apple to trial over e-books price-fixing

NEW YORK (Reuters) - Apple Inc goes to trial Monday over allegations by federal and state authorities that it conspired with publishers to raise the price of e-books. The trial pits the maker of the popular iPad and iPhone against the U.S. Justice Department in a case that tests how Internet retailers interact with content providers.

Goldman said to join Alibaba loan team as IPO nears

HONG KONG (Reuters) - Goldman Sachs has joined Alibaba Group's $8 billion loan with $500 million in financing as the Chinese e-commerce giant prepares for a massive initial public offering expected to come as early as the fourth quarter of this year. Goldman has joined as mandated lead arranger and bookrunner on the three-tranche loan, which has a June 7 deadline, Thomson Reuters publication Basis Point reported on Monday, citing an anonymous source.

ECB's Draghi says euro zone on track for "very gradual" recovery

SHANGHAI (Reuters) - The euro zone economy is on track for a recovery later this year driven by the European Central Bank's loose monetary policy and demand from abroad, the bank's President Mario Draghi said. The ECB cut interest rates to a new record low in May and said it would act again if necessary but its hand may in part be stayed this month and going forward by a rebound in inflation, which rose back to 1.4 percent in May from 1.2 percent in April.

ANA chief says A350 'good candidate' to replace Boeing 777s

CAPE TOWN (Reuters) - Japan's All Nippon Airways considers the Airbus A350 a "good candidate" to replace some Boeing 777s, its chief executive said on Sunday, in a sign that the airline could place its first order for Airbus big jets. "The A350-1000 can be a good candidate for us," Osamu Shinobe told Reuters on the sidelines of an airlines conference.

BIS lays out "simple" plan for how to handle bank failures

LONDON (Reuters) - Central bank forum the Bank for International Settlements laid out a blueprint on Sunday for how to recapitalize a major lender in the event of a failure, seeking to avoid the sort of chaotic ad hoc rescues seen since 2008's financial crash. Authorities have been grappling since the collapse of U.S. investment bank Lehman Brothers five years ago with the question of how banks regarded as systemically important - or too big to fail (TBTF) - can be recapitalized without causing panic and without needing taxpayer cash.

Amazon workers in Germany set for third one-day strike

FRANKFURT (Reuters) - Workers at internet retailer Amazon.com's German operations are set to hold a third one-day strike on Monday in a dispute over pay and benefits. Trade union Verdi has called on workers at Amazon's logistics centers in Leipzig and Bad Hersfeld to stop working from 0400 GMT.

Insight: A Singapore wealth manager under fire amid crackdown

SINGAPORE (Reuters) - The email landed at a tough time for David Chong, the colorful founder and chairman of Portcullis TrustNet, one of Asia's biggest wealth advisory companies. By threatening to publish offshore companies and trusts held by his clients, it hit a raw nerve at a company whose customers rely on its discretion. But it also came as the wealth management industry faces a wave of global scrutiny from regulators trying to weed out tax dodgers.

Insight: North Korean economy surrenders to foreign currency invasion

CHANGBAI, China/SEOUL (Reuters) - Chinese currency and U.S. dollars are being used more widely than ever in North Korea instead of the country's own money, a stark illustration of the extent to which the leadership under Kim Jong-un has lost control over the economy. The use of dollars and Chinese yuan, or renminbi, has accelerated since a disastrous revaluation of the North Korean won in 2009 wiped out the savings of millions of people, said experts on the country, defectors and Chinese border traders.

Source: http://news.yahoo.com/ca-business-summary-025217697.html

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