CA-BUSINESS Summary

Risk assets hit as China data stir recovery fears

LONDON (Reuters) - Commodities led a sharp, broad decline in risk assets on Monday as weaker-than-expected Chinese data added to concerns raised by U.S. numbers about the global economic outlook. Oil fell towards $100 a barrel, copper dropped to its lowest level in nine months, while commodity-linked currencies including the Aussie and Kiwi dollars were also hit hard.

Dish offers to buy Sprint for $25.5 billion

(Reuters) - Dish Network Corp , the No. 2 U.S. satellite TV provider, offered to buy Sprint Nextel Corp for $25.5 billion in cash and stock, a move that could thwart the proposed acquisition of Sprint by Japan's SoftBank Corp . Dish said on Monday it would pay $4.76 per share in cash and about 0.05953 shares in Dish stock.

Analysis: Canadians losing faith in economic "miracle"

OTTAWA/TORONTO (Reuters) - Factory worker Nelson Claros has little time for talk of the Canadian economic miracle. The 50-year-old was laid off last year from his job of 22 years at a bus-assembly plant northwest of Toronto, and has since applied for 130 jobs. His best offer: A job at $12 an hour, half his previous wage and not enough to pay his bills.

Centrica, Qatar buy C$1 billion of gas assets in Canada

LONDON/DUBAI (Reuters) - Britain's Centrica and Qatar Petroleum International (QPI) have bought gas and oil assets in Canada from Suncor Energy for C$1 billion, ($987 million) including some with potential for shale gas production, they said on Monday. The deal is the first joint investment for Britain's biggest energy supplier and the world's largest liquefied natural gas (LNG) exporter since they signed a memorandum of understanding (MoU) in December 2011.

Gold slumps to two-year low below $1,400 per ounce

LONDON (Reuters) - Gold dropped as much as 6.3 percent on Monday to below $1,400 per ounce for the first time since March 2011 as the market's downward momentum gained speed after more than four months of investor selling. Investors ditched gold along with other commodities from oil to copper after a less-than-forecast growth in China's gross domestic product in the first quarter stoked doubts about the health of the global economy.

China growth risks in focus as first quarter data falls short

BEIJING (Reuters) - China's economic recovery unexpectedly stumbled in the first three months of 2013 with slowing factory output and investment spending forcing analysts to start slashing full-year forecasts despite official insistence that the outlook was favorable. The world's second-biggest economy grew 7.7 percent in the first quarter from a year ago, slower than 7.9 percent hit in Q4 2012, below the Reuters consensus forecast of 8.0 percent and confounding expectations of a surprise uptick that emerged after surging credit and export data were published last week.

Euro zone posts February trade surplus on lower imports

BRUSSELS (Reuters) - The euro zone's trade surplus grew in February, but the positive balance was helped by lower demand for imports rather than export growth, data from the European Union statistics office Eurostat showed on Monday. The trade surplus for the 17 countries sharing the euro, unadjusted for seasonal swings, was 10.4 billion euros in February.

EADS in talks to buy back 1.56 percent from French state

PARIS (Reuters) - Airbus parent EADS is in talks to buy back 1.56 percent of its stock from the French government, it said on Monday, the latest step in the overhaul of state interests in Europe's largest aerospace group. The move, which could raise some 484 million euros ($634 million), marks the first time France has contemplated selling part of its 15 percent stake in EADS since the group was created from a merger of French, German and Spanish aerospace businesses in 2000.

Exclusive: Wells Fargo cuts approved list of money managers

NEW YORK (Reuters) - Wells Fargo & Co is slashing an approved list of money managers and investment vehicles that its stockbrokers market to the firm's wealthy clients, a change of direction that has rattled the third-largest U.S. brokerage network. Executives said the clampdown protects clients from exposure to a plethora of investment models that have received little oversight. It will also reduce the firm's risk at a time when litigation and compliance costs are rising industry wide.

FAA orders inspection of Boeing 737 tail planes

(Reuters) - The Federal Aviation Administration (FAA) has ordered an inspection of more than 1,000 U.S.-registered Boeing 737 jets to examine the tail planes for a potentially faulty part, which it said could cause pilots to lose control of the aircraft if it failed. The airworthiness directive (AD) issued by the FAA calls on airlines and other operators to replace tail plane fixing pins with improved pins following concerns over how their protective surface coating was applied.

Source: http://news.yahoo.com/ca-business-summary-003030954--finance.html

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