Asian stocks rallied for a second day on Thursday after the Federal Reserve reinforced that interest rates will be kept at a record low for a while, but Treasuries extended losses as the Fed shied away from boosting its debt purchases. The Fed left interest rates near zero percent but tweaked its statement to say that financial markets had improved and signaled less concern about deflation, even while repeating the economy will remain weak.Toyota's new boss warns of two more tough years TOKYO (Reuters) - The new head of Toyota Motor Corp <7203.t>, the world's biggest car maker, warned on Thursday the autos industry faces two years of tough times, as he outlined his strategy to get the company back to profits. Toyota aimed to build more autonomous operations in North America and shift focus to mark
eting region-specific vehicle lineup, instead of providing a full line-up in every region, newly appointed President Akio Toyoda, the grandson of the company founder, told his first media conference in the job. China's Sinopec to buy Addax for C$8.27 billion CALGARY, Alberta (Reuters) - Sinopec Group launched China's biggest-ever foreign oil acquisition on Wednesday, agreeing to buy Addax Petroleum Corp for about C$8.27 billion ($7.24 billion) to secure the Swiss oil explorer's high-potential oil blocks in West Africa and Iraq. The offer of C$52.80 a share from Sinopec International Petroleum Exploration and Production Corp -- coming after a behind-the-scenes bidding war with Korea National Oil Co -- is a 16 percent premium to Addax's closing share price on Tuesday and more than four times the stock's November low of C$12.13.Viterra gets Australia ok for ABB deal SYDNEY (Reuters) - Australia has given foreign-investment approval for Canadian grain handler Viterra's $1.2 billion proposed takeover of ABB Grain Ltd , the Australian grain-handler and exporter said on Thursday. "ABB Grain and Viterra have been informed that the Foreign Investment Review Board has advised Viterra that there are no objections to the proposed scheme of arrangement with Viterra," ABB said in a statement to the Australian stock market. Flaherty upbeat on economic signs OTTAWA (Reuters) - Finance Minister Jim Flaherty said on Wednesday he was seeing more positive signs than negative ones in the country's economy. "Certainly there are positive indications of stabilization in the economy. What we want to look for now are signs of the beginning of economic growth. We're starting to see some positive indications of consumer confidence, some increased activity in residential real estate," Flaherty said in a conference call from Washington.
eting region-specific vehicle lineup, instead of providing a full line-up in every region, newly appointed President Akio Toyoda, the grandson of the company founder, told his first media conference in the job. China's Sinopec to buy Addax for C$8.27 billion CALGARY, Alberta (Reuters) - Sinopec Group launched China's biggest-ever foreign oil acquisition on Wednesday, agreeing to buy Addax Petroleum Corp for about C$8.27 billion ($7.24 billion) to secure the Swiss oil explorer's high-potential oil blocks in West Africa and Iraq. The offer of C$52.80 a share from Sinopec International Petroleum Exploration and Production Corp -- coming after a behind-the-scenes bidding war with Korea National Oil Co -- is a 16 percent premium to Addax's closing share price on Tuesday and more than four times the stock's November low of C$12.13.Viterra gets Australia ok for ABB deal SYDNEY (Reuters) - Australia has given foreign-investment approval for Canadian grain handler Viterra's $1.2 billion proposed takeover of ABB Grain Ltd , the Australian grain-handler and exporter said on Thursday. "ABB Grain and Viterra have been informed that the Foreign Investment Review Board has advised Viterra that there are no objections to the proposed scheme of arrangement with Viterra," ABB said in a statement to the Australian stock market. Flaherty upbeat on economic signs OTTAWA (Reuters) - Finance Minister Jim Flaherty said on Wednesday he was seeing more positive signs than negative ones in the country's economy. "Certainly there are positive indications of stabilization in the economy. What we want to look for now are signs of the beginning of economic growth. We're starting to see some positive indications of consumer confidence, some increased activity in residential real estate," Flaherty said in a conference call from Washington.For futher details visit at:www.globeinvestor.com/servlet/story/ROC.20090625.2009-06-25T062507Z_01_TRE55O0YO_RTROPTT_0_CBUSINESS-SUMMARY/GIStory/
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