CA-BUSINESS Summary

Economic reality finally cracks market fervor

LONDON (Reuters) - As evidence mounts that a mid-year slowdown is taking place in the world economy, the next few days will offer a clearer glimpse of how that will impinge on policymaking and buoyant financial markets. Global stocks stumbled last Thursday in one of the few times the grey economic reality cut through this year's reverie in financial markets.

RBS board has held CEO successor talks: report

LONDON (Reuters) - Directors of Royal Bank of Scotland have held recent talks on identifying a replacement for its chief executive Stephen Hester, Sky News said on Sunday citing sources. Sky News said Philip Hampton, Chairman of the state-backed lender, called a meeting of the bank's non-executive directors earlier this month to inform them he was drawing up a list of potential replacements for Hester, including Standard Chartered finance director Richard Meddings.

Tata's Mistry man: tightening belts as more frugal era begins

MUMBAI (Reuters) - As Ratan Tata strode the halls of the Geneva Motor Show in March, joking with journalists and chatting with auto industry leaders, his successor at the helm of India's biggest business group stood silently on the sidelines. Shunning the spotlight since taking charge of the $100 billion Tata group in December, 44-year-old Cyrus Mistry has focused on belt-tightening at a conglomerate left bloated by explosive growth under his predecessor.

Hertz stock could rise 70 percent in two years: Barron's

(Reuters) - Car rental company Hertz Global Holdings Inc is poised for a long run of earnings and revenue growth and the stock could be worth 70 percent more in two years, the Barron's financial news weekly said in its May 27 edition. The car rental industry, tied closely to airline traffic and hotel bookings, is seeing strong volumes, helped by a recovery in business travel in the United States. Hertz, which primarily serves corporate customers, is also benefiting from the acquisition of Dollar Thrifty, a big player in the leisure and lower-priced rental market.

Merkel, Li call for end to EU-China solar trade row

BERLIN (Reuters) - German Chancellor Angela Merkel and Chinese Premier Li Keqiang on Sunday called for an end to a trade row between Europe and China over solar panels and wireless equipment, telling a joint news conference they were both for free trade. The European Union accuses China of pricing its solar panels and mobile telecom devices too cheaply and "dumping" them in Europe to corner the market. It plans to impose duties on Chinese panel makers.

Electric car venture Better Place files to liquidate

JERUSALEM (Reuters) - Electric car company Better Place said on Sunday it had filed a motion in an Israeli court to wind up the company, bringing an end to a venture whose battery charging network had aimed to boost electric car sales. Better Place partnered with Renault in 2008 to create an electric car system combining charging terminals with battery swap stations to increase the range of electric cars and put an end to drivers' worries about running out of power.

China PM says stable euro in best interests of China and world

BERLIN (Reuters) - China's Premier Li Keqiang said on Sunday a stable euro was in the best interests of China and the whole world. Speaking at a news conference in Berlin with Chancellor Angela Merkel, Li said China has offered its help throughout the euro zone crisis.

China, EU to discuss trade disputes on Monday

BEIJING (Reuters) - China will hold informal talks with the European Commission on Monday to try to defuse a trade row over solar panels and wireless equipment. The European Union accuses China of pricing its solar panels and mobile telecom devices too cheaply and "dumping" them in Europe to corner the market. It plans to impose duties on Chinese panel makers.

Kion, Shandong Heavy get 500 million euro to enhance cooperation

FRANKFURT (Reuters) - Germany's Kion Group , the world's second biggest maker of fork lift trucks, and shareholder Shandong Heavy are getting as much as 500 million euros ($647 million) in financing from the China Development Bank to support their cooperation, Kion said. The two companies will also be receiving unspecified financial services from the bank as part of an agreement signed on Sunday at a meeting between Chinese Premier Li Keqiang and German Chancellor Angela Merkel, Kion said.

Valeant deal sparks share jump, helps TSX ends week higher

TORONTO (Reuters) - Canada's main stock index reversed earlier losses on Friday after several stocks jumped on takeover moves, helping the TSX shrug off uncertainty over U.S. central bank monetary policy that hurt U.S. indices. Shares in Valeant Pharmaceutical International Inc jumped more than 13 percent to C$86.91 after a source said the company is close to a $9 billion deal to acquire eye care company Bausch & Lomb.

Source: http://news.yahoo.com/ca-business-summary-095529463.html

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