China gives Microsoft 20 days to provide explanation in anti-trust probe

A Chinese anti-trust regulator said on Monday it has given Microsoft Corp (MSFT.O) 20 days to reply to queries on the compatability of its Windows operating system and Office software suite amid a probe into the world's largest software company. The State Administration for Industry and Commerce (SAIC) questioned Microsoft Vice President David Chen and gave the company a deadline to make an explanation, the agency said in a short statement on its website. SAIC also repeated that it suspected the company has not fully disclosed issues relating to the compatability of the software and the operating system. "[A] special investigation team conducted an anti-monopoly investigation inquiry with Microsoft Vice President Chen Shi (David Chen), and required that Microsoft make a written explanation within 20 days," the SAIC said in a statement on its website.

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China manufacturing slowdown ripples through region

Growth in China's vast factory sector slackened in August as foreign and domestic demand slowed, stoking speculation that further policy easing would be needed to prevent the economy from stumbling once more. The surveys of purchasing managers (PMI) from across Asia told a tale of underwhelming new orders and faltering exports, overshadowing brighter spots such as India and Taiwan.

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China's official PMI slips to 51.1 in August

An index of growth in China's vast manufacturing sector fell from a 27-month high to 51.1 in August, a government study showed on Monday, slightly less than forecast and adding to signs of growing softness in the Chinese economy. China's official Purchasing Managers' Index (PMI) slipped in August from July's 51.7, the National Bureau of Statistics said, slightly missing the median forecast of 51.2 in a Reuters poll.

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Asian shares wobble in early trade, euro sinks

Asian shares balked at the starting gate on Monday, skittish in the face of a deepening Ukraine crisis, while the euro touched a fresh one-year low ahead of this week's European Central Bank meeting. Ukrainian President Petro Poroshenko warned a "full-scale war" was imminent if Russian troops continued to advance in support of pro-Moscow rebels as U.S. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.2 percent in early trading, pulling away from Thursday's high of 515.13, its highest since early 2008. Japan's Nikkei stock average (.N225) added about 0.3 percent, after shedding 1.3 percent in August.

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UK manufacturing growth cools as export orders slip: EEF

Britain's main manufacturing trade association trimmed its growth forecast for 2014 on Monday after its members reported the first fall in export orders since early 2013. The EEF association said its quarterly survey of members showed slowing growth in output and new business over the last three months, and cut its forecast for factory output growth in 2014 to 3.3 percent from 3.5 percent. The EEF said that with the euro zone economy stagnating, sterling strong and political risks on the rise, the picture for demand was now more uncertain than for some time, though the overall picture remained positive. "We're seeing manufacturers continue to recruit for skilled jobs and increase their plans to invest in the coming year - exactly what the UK economy still needs for balanced growth," said Lee Hopley, the EEF's chief economist.

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Qantas stays loyal to its frequent flyer 'cash cow'

Australia's flagship airline, Qantas Airways Ltd (QAN.AX), is making a mint helping other companies keep their customers - even as it struggles to retain the loyalty of its own. Hiding behind Qantas' staggering A$2.8 billion ($2.6 billion) headline annual net loss announced last week is a hugely profitable loyalty program that is the envy of the airline world - and the carrier isn't letting go. Some investors have urged Qantas to sell all or part of Qantas Frequent Flyer, which is valued as high as A$3 billion. Rival carrier Virgin Australia Holdings (VAH.AX) announced on Friday it was offloading a stake in its loyalty plan.

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Weak data to test BOJ's rosy economic view, policy on hold

While the BOJ is likely to stick to its assessment that the economy is recovering moderately, pessimists on the board may propose offering a bleaker view on components such as factory output, say sources familiar with the bank's thinking. "It's pretty clear from data out so far that the economy is undershooting the BOJ's forecast," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. The BOJ cut its assessment on exports earlier this month to say they were "weakening" but left intact its view that factory output, while also weakening, continues to "rise as a trend". Household spending fell more than expected in July and analysts expect bad weather and lasting effects from the tax hike to weigh on consumption in coming months, casting doubt on the BOJ's view that domestic demand remains firm.

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Britain's Barclays to sell Spanish assets to Caixabank

Britain's Barclays (BARC.L) is selling its Spanish retail and corporate banking operations to Caixabank (CABK.MC), the two lenders said on Sunday, as it continues a major restructuring and shrinks some of its struggling European divisions. Caixabank, Spain's third-biggest lender and one of the most acquisitive banks in the country during the recent financial crisis, said it would pay 800 million euros ($1.05 billion) for the Barclays businesses. The deal also includes wealth management operations and Caixabank said the final price would depend on the net asset value of Barclays Bank in Spain by the end of the year, when the transaction is due to close. Barclays is in the midst of a major turnaround plan involving thousands of job cuts and the closure or sale of business it now considers non-core as it tries to lift profitability.

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Exclusive: Norwegian Cruise nears $3 billion Prestige Cruises deal - sources

A deal would give Norwegian Cruise, a company with a market value of $6.8 billion, access to Prestige Cruises' luxury cruise ships and affluent clientele as it competes with bigger rivals Royal Caribbean Cruises Ltd (RCL.N) and Carnival Corp (CCL.N). The owner of Prestige Cruises, private equity firm Apollo Global Management LLC (APO.N), also owns a 20 percent stake in Norwegian Cruise.

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Passive funds an active threat for Europe's fund managers

Warren Buffett built a fortune of nearly $60 billion from astute stock picking, but when the 83-year-old dies, the vast majority of the money he leaves his wife will be parked in a fund that simply moves in step with an index. The afterlife plans of the man nicknamed the Sage of Omaha, revealed in a letter to his investors earlier this year, underline a sea change afoot in the investment industry. Fed up with high fees and poor performance, investors are increasingly shunning active fund managers who promise to beat the stock market in favor of cheaper, passive funds, which simply track it. Such funds account for about a quarter of the money invested in the UK stock market, up from 15 percent a decade ago.

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Merkel unhappy with Draghi's apparent new fiscal focus: Spiegel

A German news magazine reported on Sunday that Chancellor Angela Merkel is unhappy with European Central Bank chief Mario Draghi for apparently proposing a greater emphasis on fiscal stimulus over austerity in order to boost growth in Europe. Der Spiegel reported, without citing any sources, that she and Finance Minister Wolfgang Schaeuble had both called the ECB president last week to take him to task about comments he made in a speech at Jackson Hole, Wyoming on Aug 22. Draghi told a conference of central bankers that it would be "helpful for the overall stance of policy" if fiscal policy could play a greater role alongside the ECB's monetary policy.

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French PM says ECB must do more to tackle overvalued euro

French Prime Minister Manuel Valls reiterated on Sunday calls for the European Central Bank to go "further" in tackling the problem of an overvalued euro. Speaking at a Socialist party gathering ...

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Worried EU leaders call jobs, growth summit for October 7: draft

European Union leaders are set to hold an emergency summit on promoting growth and jobs on Oct. 7 at the suggestion of Italy, according to a draft of a statement to be issued after an EU summit on Saturday. Previous drafts before weak euro zone economic data in the past few days made no mention of the economic situation.

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Alibaba aims to launch share sale in early September: source

Chinese e-commerce company Alibaba Group Holding Ltd is planning to launch its New York stock market debut in the week of Sept. 8, a person briefed on the matter told Reuters on Saturday. The much-anticipated sale or initial public offering (IPO) could raise more than $20 billion, making it the biggest technology listing in the United States. Securities and Exchange Commission (SEC) to kick-off the listing, the person said, adding that the date was still a moving target. An external spokeswoman for Alibaba in Hong Kong declined to comment on the share sale plans when contacted by Reuters on Saturday.

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Fiat-Chrysler sees New York stock market listing on October 13

Fiat-Chrysler aims to list shares in the newly merged carmaker in New York on Oct. 13, Chief Executive Sergio Marchionne said on Saturday, adding that a decision on any capital increase would be made at the end of that month. He was speaking a day after the merger between Fiat and its U.S unit Chrysler cleared its last remaining hurdle. Fiat bought out Chrysler at the start of 2014 and both operate as one firm. Marchionne wants to incorporate the two into Dutch-registered entity Fiat Chrysler Automobiles (FCA), paving the way for the U.S.

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Fiat-Chrysler CEO says shareholders backing of merger is 'huge step ahead'

The fact that most Fiat shareholders chose not to exercise an option that could derail a merger with its U.S. unit Chrysler is a "huge step ahead" for the car maker, Fiat and Chrysler Sergio ...

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U.S. coal stocks could gain on Russia tension

Beaten-down U.S. The crisis in eastern Ukraine has emboldened Europe and the United States to impose broad sanctions on Russia.

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Exclusive: Bitcoin promoter to plead guilty to unlicensed money transmission

Bitcoin entrepreneur Charlie Shrem has reached a plea deal to resolve U.S. Shrem, the former vice chairman of the Bitcoin Foundation, will plead guilty next Thursday in New York federal court to unlicensed money transmission, Marc Agnifilo, his lawyer told Reuters in an email. Prosecutors had previously charged Shrem with operating an unlicensed money transmitting business, money laundering conspiracy and failing to file suspicious activity reports with government banking authorities. Federal authorities shut down Silk Road last year, though a new Internet marketplace under the same name was launched in November.

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Can auto and back-to-school sales carry the economy?

This weekend marks the unofficial end of summer, which means the warm, lazy days of August are over (though the S&P crossing 2,000 and economic growth of 4.2% hardly warrant the use of ‘lazy’). It’s time to breathe some fresh autumn air into your portfolio and Yahoo Finance’s Aaron Task, Jeff Macke and Rick Newman are here to preview some of what you should be looking out for in order to do it.



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Exclusive: U.S. options exchanges craft rules to fend off turmoil

A year after Goldman Sachs (GS.N) bungled a software upgrade and lost tens of millions of dollars from unintended trades, the 12 U.S. Under the proposed rules, unintended trades placed by professional traders will usually have their prices adjusted to levels as close to their fair market value as possible, while wrong trades by retail customers will be mainly be undone, five sources with knowledge of the matter told Reuters. When market prices are oscillating wildly, technical glitches can create turmoil, said Andy Nybo, head of derivatives research at advisory firm TABB Group. In other markets, technical glitches have created big trouble for traders.

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Here's why everyone is nuts about peer-to-peer lending

From Lending Club to Prosper, here's how the peer-to-peer (P2P) lending business works .

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Oracle loses bid to restore $1.3 bln SAP verdict, could get new trial

Circuit Court of Appeals in San Francisco said jurors used "an undue amount of speculation" in awarding $1.3 billion in damages in 2010. District Judge Phyllis Hamilton in Oakland, California, had erred in concluding that Oracle deserved only $272 million of damages, a sum Oracle rejected. Writing for a three-judge 9th Circuit panel, Judge William Fletcher directed Hamilton to offer Oracle a choice of $356.7 million of damages or a second trial.

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Amazon and Google face off — in the sky

Google has joined a small, but growing, number of companies that are developing a drone delivery system. Commercial drones are still illegal in the U.S. which is why companies are testing them elsewhere and lobbying Congress and the FAA to change the rules.

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Hershey takes wraps off new corporate logo

The Hershey Company is rolling out a new corporate logo that features a freshly stylized version of one of its most famous chocolate products. The candy maker on Friday announced the new design, which ...

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How a 15-Year-Old Investor Beat the Market

When her 15-year-old son Michael Finn-Henry set out to invest, it was with modest objectives. “I wanted to understand how the stock market works, because that seems to be where a lot of adults end up making money,” he says.

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Searching for the next Apple? Citi says look East

Investors who missed out on Apple's turnaround should eye Japan and Korea's low-valued, "cash-hoarding" companies, according to analysts at Citi.

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Summer surge for apt.stocks: Are they overheated?

So far this year apartment REITS are up 29 percent, more than triple the S&P 500. But is a bubble looming?

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Online banking or shopping: What's more secure?

In light of this week's reports that banks were hacked, a cybersecurity expert rates the best and worst industries at protecting your online data.

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Oracle loses bid to restore $1.3 billion SAP verdict, could get new trial

Circuit Court of Appeals in San Francisco said jurors used "an undue amount of speculation" in awarding $1.3 billion in damages in 2010. District Judge Phyllis Hamilton in Oakland, California, erred in concluding that the verdict was too high and that Oracle deserved only $272 million of damages, a sum Oracle rejected. Writing for a three-judge 9th Circuit panel, Judge William Fletcher directed Hamilton to offer Oracle a choice of $356.7 million of damages or a second trial. Oracle spokeswoman Deborah Hellinger declined to comment.

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Should the Fed be giving money directly to the people?

For those who want the central bank to do more to try to boost the economy or think its current policies haven't been effective enough, here's a novel idea: The Federal Reserve could print money and give it to consumers directly. That's the provocative suggestion made in a new essay in Foreign Affairs magazine. We talk to one of the authors.

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Real stock correction going to blindside us: Pro

But if the stock market finishes this month with another advance, TJM's Jim Iuorio tells CNBC he's ready to throw in the towel on his correction call for now.

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U.S. consumer sentiment rises in final August reading

The Thomson Reuters/University of Michigan's final August reading on the overall index on consumer sentiment came in at 82.5, up from 81.8 the month before. "Consumer confidence rebounded in late August due to a positive reassessment of prospects for the national economy," survey director Richard Curtin said in a statement. "A weakened trend in equity and home prices in the absence of resurgent wages would threaten the modest pace of consumer spending that is now expected."

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SoftBank's first Sony smartphone deal takes aim at U.S. market

The deal could give a much-needed boost to Sony's struggling mobile division, which last month said it no longer expected to make a profit in the year to next March. SoftBank, Japan's second most valuable company, is pushing price cuts and promotions at Sprint while unveiling joint smartphone offerings to shore up the No. 3 U.S.

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Market at highs belies economic reality

"The real crisis is not going to be because the Fed stops QE but because it continues it to the point that we have a dollar crisis," says Euro Pacific Capital CEO Peter Schiff.

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U.S. consumer spending slips; savings highest in 1-1/2 years

The Commerce Department said on Friday consumer spending dipped 0.1 percent last month, the first decline since January, after an unrevized 0.4 percent gain in June. Economists had expected consumer spending, which accounts for more than two-thirds of U.S. The weakness in consumer spending at the start of the third quarter will probably do little to change perceptions that the economy has retained much of its second-quarter momentum. The government reported on Thursday that the economy expanded at a 4.2 percent annual pace in the second quarter, with consumer spending growing at a 2.5 percent pace.

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Live: Consumer spending; Apple's big reveal; Netflix pays big for 'Blacklist'

Join Hot Stock Minute live now for the latest premarket headlines.

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McDonald's says 12 Russian branches temporarily closed

McDonald's said on Friday that a total of 12 of its branches in Russia had been temporarily closed over the state food safety regulator's allegations of sanitary violations.

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Stock futures up, indexes on track for 4th week of gains

Stock index futures were modestly higher on Friday, suggesting the market's recent upswing was intact and pointing to a fourth straight week of gains for major indexes. * Stocks have been strong of late, with investors taking any opportunity to buy on dips.

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JPMorgan hack spanned months via multiple flaws

Hackers burrowed into the databanks of JPMorgan Chase and deftly dodged one of the world's largest arrays of sophisticated detection systems for months.

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German economic fears growing but Merkel strong

BERLIN (AP) — Ordinary Germans are spooked about the future. Businesses are starting to see black clouds on the horizon. And an economy that has been the envy of Europe is showing cracks, shrinking unexpectedly last quarter amid the conflict in Ukraine.

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Alibaba profit more than Amazon, EBay combined ahead of IPO

Alibaba Group Holding Ltd. has been described as a mixture of Amazon.com Inc. and EBay Inc. (EBAY) during the preparation for its U.S. In the last quarter, Alibaba earned more than those companies combined. Operating income at China's biggest e-commerce operator rose to $1.1 billion in the three months ended June, or 42 percent more than the combined profit of Amazon and EBay for the period. After including one-time gains, Alibaba's net income was more than double those of its competitors.

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China ETF drawing most funds since 2012 on stimulus bets

The iShares China Large-Cap ETF has attracted a net $518 million in August, putting it on track for the biggest monthly inflow since $1.34 billion was added in December 2012. The ETF, which has Tencent Holdings Ltd. and China Mobile Ltd. among its 25 stocks, reached an 18-month high on Aug. 13 after rallying 26 percent from a March low. The Bloomberg China-UNS Equity Index slipped 1.2 percent yesterday, cutting its advance since the end of July to 2.5 percent. The Hang Seng China Enterprises Index has risen 1.1 percent this year after slumping 5.4 percent in 2013.

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Russian fund with US advisers eludes sanctions

As President Barack Obama warns of stepped-up economic punishments against Russia for its military incursions inside Ukraine, U.S. sanctions have so far avoided one prominent financial institution: the ...

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Asia stocks drift, Tokyo steadies after weak data

Asian stock markets drifted Friday following Japanese data showing that the region's second biggest economy is struggling to recover from a sales tax hike.

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Google building fleet of package-delivering drones

SAN FRANCISCO (AP) — Google's secretive research laboratory is trying to build a fleet of drones designed to bypass earthbound traffic so packages can be delivered to people more quickly.

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Special Report: The billion-dollar fall of the house of Espirito Santo

On June 9, with his 150-year-old Portuguese corporate dynasty close to collapse, patriarch Ricardo Espirito Santo Salgado made a desperate attempt to save it. Salgado signed two letters to Venezuela’s state oil company, which had bought $365 million in bonds from his family’s holding company. The "cartas-conforto" – letters of comfort – were written on the letterhead of Banco Espirito Santo, a large lender controlled by the family. "Banco Espirito Santo guarantees ... it will provide the necessary funds to allow reimbursement at maturity,” said the letters.

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Euro zone inflation dips as expected in August

Euro zone inflation dropped as expected to a fresh five year low in August, data showed on Friday, but it was not likely to force the European Central Bank into immediate policy intervention next week, Consumer prices in the 18 countries using the euro rose by just 0.3 percent year-on-year in August, the smallest increase since October 2009, the European Union's statistics office Eurostat data showed. Inflation, which dropped unexpectedly to 0.4 percent in July, has been locked in what ECB President Mario Draghi called a 'danger zone' of below 1 percent since October last year. Vanishing inflation strengthens poses problems for the ECB as it tries to respond to the bloc's stalled recovery, which is facing additional struggles because of economic sanctions imposed against Russia in July over its involvement in the deepening conflict in Ukraine.

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Malaysia Airlines to cut 6,000 jobs, spend $1.9 billion on restructuring: Khazanah

Malaysia Airlines (MASM.KL) will cut 30 percent of its workforce as part of a restructuring that will cost 6 billion ringgit ($1.90 billion), majority investor Khazanah Nasional [KHAZA.UL] said on Friday. Khazanah said the carrier will trim its staff by 6,000 to 14,000 as it seeks to stem long-running losses worsened by two aircraft disasters this year. The state fund said the airline will be de-listed from the Kuala Lumpur exchange by the end of 2014, adding that Ahmad Jauhari Yahya will stay on as chief executive until July 2015. Khazanah said it aims to return the airline to profitability within three years of its de-listing, and plans to re-list the carrier in three to five years from now.

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Fiat says exit rights exercise won't jeopardize Chrysler merger

Fiat (FIA.MI) said on Friday its merger with Chrysler was on track to go ahead as planned in October since it did not expect a 500 million euro ($658.3 million) cap on the money it set aside to pay off any dissenting shareholders would be breached. Chief Executive Sergio Marchionne wants to incorporate the two carmakers into a Dutch-registered company called Fiat Chrysler Automobiles (FCA), paving the way for a U.S. In a statement, Fiat said it was finishing a count of the number of shares for which cash exit rights had been validly exercised and would give final details by Sept. 4.

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Exclusive: Morgan Stanley plans natural gas export plant in new commodities foray

Morgan Stanley has quietly filed plans to build and run one of the first U.S. Department of Energy's Office of Fossil Energy submitted in May, the Wall Street bank outlined a proposal to build, own and operate a compression and container loading facility near Freeport, Texas, which will have capacity to ship 60 billion cubic feet a year of compressed natural gas (CNG). While the size of the project is small compared with bigger liquefied natural gas (LNG) projects, the plan highlights the bank's ability to exploit its status as one of two Wall Street banks which are allowed to own and operate infrastructure for the manufacture, storage and operation of raw materials. The other one is Goldman Sachs.

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China funds cut suggested equity allocations as hopes for recovery evaporate: Reuters poll

Chinese fund managers will cut the proportion of their portfolios invested in stocks over the next three months, following July's upward trend, as hopes for a quick economic recovery falter, a Reuters poll shows. "China's recovery is not at all stable. It is still possible that things will get worse, so market sentiment is volatile," a fund manager based in south China said. Chinese fund managers reduced their suggested equity allocation for the next three months to 77.2 percent from 81.9 percent a month earlier, according to a poll of nine China-based fund managers conducted this week.

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