CA-BUSINESS Summary

Asian shares, commodities rattled by weak China PMI

TOKYO (Reuters) - Asian shares and other more risky assets fell back on Tuesday while the yen rose broadly after the HSBC "flash" PMI reading showed manufacturing growth in China slowed in April, underscoring market concerns about global growth prospects. European stock markets were seen rising, with financial spreadbetters predicting London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open up to 0.3 percent higher. <.l><.eu/>

Netflix has good hand with "House of Cards", shares soar 24 percent

(Reuters) - Netflix Inc impressed investors with solid subscriber growth and better-than-expected profits in the first quarter, sending shares of the video subscription service soaring 24 percent higher in after-hours trade. A big push into original shows, a strategy aimed at hooking new customers with content they can't get anywhere else, seems to be working, with its February release of the series "House of Cards", a drama starring Kevin Spacey, generating plenty of buzz.

China HSBC Flash PMI falls, points to tepid second-quarter recovery

BEIJING (Reuters) - Growth in China's vast factory sector dipped in April as new export orders shrank, a preliminary survey of factory managers showed on Tuesday, suggesting the world's second-largest economy still faces formidable global headwinds into the second quarter. The flash HSBC Purchasing Managers' Index for April fell to 50.5 in April from 51.6 in March but was still stronger than February's reading of 50.4.

Thai tycoon launches $6.6 billion buyout to kick off Asian retail push

BANGKOK (Reuters) - Thailand's richest man has made a $6.6 billion offer to buy cash-and-carry wholesaler Siam Makro Pcl , the biggest Asia-Pacific M&A deal announced this year, as the tycoon looks to grab a larger share of the country's buoyant retail market. The country's biggest convenience store chain CP All Pcl , controlled by Dhanin Chearavanont, is gunning to push deeper into Thailand's $80 billion retail sector just two months after Dhanin's surprise move to buy a $9.4 billion stake in Ping An Insurance Group of China from HSBC plc .

Indonesia warns multinationals not to be greedy over resources

SINGAPORE (Reuters) - Indonesia's president told major investors in his country's natural resources not to be greedy, comments that suggest he is in no mood to row back on policies that foreign mining and energy firms have called a deterrent. But Susilo Bambang Yudhoyono sounded more accommodative in remarks over a long-delayed $7.2 billion bank takeover by Singapore's DBS Group and on the thorny issue of reducing state fuel subsidies, which are eating up a growing chunk of the government's budget.

KPMG chairman says campaign against auditor anonymity misleading

SHANGHAI (Reuters) - Renewed calls by U.S. regulators for those who sign off on audit reports to be publicly named, sparked by an insider trading scandal at KPMG , will do little to restore investor confidence, the audit firm's chairman said on Tuesday. Michael Andrew said the proposal would do little to fix real problems such as determining what types of financial data need to be audited as well as boosting the flow of information between regulators and government agencies.

U.S. environment regulator slams Keystone pipeline review

WASHINGTON (Reuters) - The U.S. environment regulator on Monday said the State Department must take a harder look at climate and other impacts of the Canada-to-Texas Keystone XL oil sands pipeline before the Obama administration issues a final decision on the project. The Environmental Protection Agency rated the State Department's 2,000-page March 1 draft review of the TransCanada Corp pipeline project as "insufficient," in a letter to department officials as a public comment period ended on Monday.

S&P says more than one-third chance of Japan downgrade, cites risks to Abenomics

TOKYO (Reuters) - Rating agency Standard & Poor's said on Tuesday it saw more than a one-third chance that it would downgrade Japan's sovereign ratings because of uncertainty about whether the government's push to revive growth and end deflation will succeed. "The continuing prospect of a downgrade arises from risks associated with recent government initiatives and uncertainty of their success," S&P said in a report.

CN Railway profit hurt by winter weather chill

TORONTO (Reuters) - Canadian National Railway Co took a big winter weather hit, the country's largest rail operator said on Monday, as extreme cold and heavy snow in Western Canada slowed operations and nipped into profits. CN said it has since turned the corner, returning to more efficient operations, but will bump up its capital spending plan by C$100 million ($97.39 million), to C$2 billion, to make its network more resilient and productive.

Era of austerity has run its course, EU says

BRUSSELS (Reuters) - France and Spain fell short of their budget deficit goals last year and debt levels swelled across the euro zone but the pressure may be easing on Paris and Madrid as the European Commission signals an end to sharp spending cuts. Outlining the state of Europe's accounts in 2012, the EU's statistics office Eurostat said on Monday that France posted a deficit of 4.8 percent of economic output, higher than its 4.5 percent target. Spain's shortfall was the largest in the EU.

Source: http://news.yahoo.com/ca-business-summary-001125240--finance.html

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