CA-BUSINESS Summary

Nikkei surges as wilting yen sends ripples across Asia

TOKYO (Reuters) - Japanese equities soared to 5-1/2-year highs on Friday, with the dollar sailing past the symbolic 100 yen level and beefing up the outlook for Corporate Japan, but shares elsewhere in Asia retreated as global equities paused overnight from recent rallies. European stock markets will likely inch higher after the pan-European FTSEurofirst <.fteu3> closed flat overnight to stay near five-year highs. Financial spreadbetters predicted London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open up as much as 0.2 percent. <.l><.eu/>

Icahn, Southeastern propose alternative to Dell buyout deal: WSJ

(Reuters) - Activist investor Carl Icahn and Southeastern Asset Management Inc, two of Dell Inc's largest shareholders, have proposed an alternative to a $24.4 billion buyout deal led by founder Michael Dell, the Wall Street Journal reported. Icahn and Southeastern, both vocal opponents of the deal, proposed giving Dell shareholders the option to keep holding stock in the company and take an additional $12 a share in cash or stock in a letter to Dell's board Thursday night, the paper said.

TSX retreats on banks, golds despite Canadian Tire surge

TORONTO (Reuters) - Canada's main stock index fell on Thursday as weakness in financial and gold-mining stocks overshadowed a jump in Canadian Tire Corp after the retailer unveiled plans to launch a real estate investment trust. Investors also tracked data showing U.S. jobless claims unexpectedly fell in the latest week, dropping to the lowest level in more than five years. That news, coupled with a stronger U.S. dollar, weakened bullion prices and weighed on gold shares.

YouTube starts paid subscription service

(Reuters) - Google's YouTube video service is dipping its toe into pay television by starting on Thursday a subscription service with 30 content creators, including children's programmers Sesame Street and Muppet creator The Jim Henson Co, and the Ultimate Fighting Championship. YouTube, the world's largest video website, allows creators to set subscription fees and accept advertisements, at their discretion, for the channels they create.

China issues new rules targeting wealth management fund pools: sources

SHANGHAI (Reuters) - China's bond market regulator closed off a loophole on Friday that allowed banks that sell high-yielding wealth management products (WMPs) to evade regulatory requirements by moving money between the WMP accounts they manage and their own proprietary accounts, bond traders at four Chinese banks told Reuters. The four traders, who spoke on condition of anonymity because they are not authorized to speak to media, told Reuters the China Government Securities Depository Trust & Clearing Co Ltd (CDC) and the Shanghai Clearing House had jointly notified commercial banks they could no longer trade bonds between their own proprietary accounts and the WMPs they manage for clients.

JPMorgan sued by California over 'illegal' debt collections

LOS ANGELES (Reuters) - California's attorney general sued JPMorgan Chase & Co on Thursday, accusing the company of falsely signing documents to unlawfully collect credit card debt from thousands of customers. The lawsuit accuses JPMorgan of engaging in widespread, illegal "robo-signing" of legal documents to commit debt-collection abuses against approximately 100,000 California credit card borrowers.

BofA sells $110 billion CMBS servicing rights portfolio to KeyBank

(Reuters) - Bank of America Corp will sell a commercial mortgage servicing rights portfolio valued at around $110 billion to a KeyCorp unit for an undisclosed amount, the latest offloading of servicing assets which many big banks consider costly to collect on. Bank of America announced similar deals for more than $300 billion of servicing rights earlier this year. Terms of those deals showed comparatively small amounts of money changing hands.

Paulson hedge fund puts hotel unit in bankruptcy to escape lawsuit

(Reuters) - Billionaire investor John Paulson has put a real estate unit of his hedge fund into bankruptcy to thwart a lawsuit by a lender that claims it is owed tens of millions of dollars related to the recent sale of several luxury resorts. According to filings late Wednesday in Manhattan bankruptcy court, MSR Hotels & Resorts Inc. sought Chapter 11 protection from creditors to sell its remaining assets and wind down.

ABB Chief Hogan to stand down for private reasons

ZURICH (Reuters) - ABB Chief Executive Joe Hogan is leaving the company for what it said were private reasons. His departure date has not yet been decided. Hogan joined the Swiss industrial group as CEO in September 2008, and has invested some $20 billion to strengthen the company since then, including the major acquisitions of U.S. groups Baldor and Thomas & Betts and, in April this year, solar energy company Power One .

After rough patch in China, Yum looks to repair image

SHANGHAI (Reuters) - Yum Brands Inc , the largest foreign fast-food chain in China, is strengthening its media strategy in the country in a bid to win back customer loyalty after a series of food scares that decimated sales this year. State media and social web sites criticized Yum's response to charges in December that there were too many chemicals in chicken dishes at its KFC restaurants. An avian flu scare earlier this year and reports of false mutton being sold in China have affected both its KFC and Little Sheep chains.

Source: http://news.yahoo.com/ca-business-summary-000909958.html

Mike Rice yu darvish Skylar Diggins kim jong un Facebook Phone lollapalooza emma watson