CA-BUSINESS Summary

Still stuck on central-bank life support

LONDON (Reuters) - Five years after the onset of the global financial crisis, the world economy is in such a chronic condition that the European Central Bank might cut interest rates this week and the Federal Reserve is likely to indicate no let-up in the stimulus it is providing the U.S. economy. With the euro zone economy in recession, momentum is building for the ECB to lower interest rates for the first time since July 2012, according to senior sources involved in the deliberations.

Deutsche Bank has "zero tolerance" for tax evaders: CEO

FRANKFURT (Reuters) - Deutsche Bank has "zero tolerance" for customers seeking to evade taxes by holding assets in foreign accounts managed by the lender, Co-Chief Executive Juergen Fitschen told German radio broadcaster Deutschlandfunk. "Tax evasion is a crime," Fitschen said in an interview. "It's unacceptable."

Japan's ANA takes its first 787 back into the air since grounding

TOKYO (Reuters) - All Nippon Airways , the Japanese launch customer for Boeing Co's 787, flew its first Dreamliner in more than three months on Sunday to test reinforced batteries installed by the U.S. aircraft maker. The ANA flight was the second by an airline since aviation regulators on Friday gave permission for 787 operations to restart after batteries on two of them overheated in mid January. One was on an ANA plane in Japan and another on a Japan Airlines jet parked at Boston's Logan airport.

Zames' star ascends in latest JPMorgan shakeup

NEW YORK (Reuters) - JPMorgan Chase & Co said on Sunday Matt Zames will fully assume the role of chief operating officer as his former partner in the job leaves, which was part of the latest management shakeup at the biggest U.S. bank. Zames, who has been seen as a strong candidate to succeed the bank's Chief Executive and Chairman Jamie Dimon, had been co-chief operating officer with Frank Bisignano, the New York-based bank said in a statement.

U.S. Steel locks out workers at Lake Erie in Canada: union

TORONTO (Reuters) - United States Steel Corp has locked out all unionized employees at its Lake Erie works in Canada, the United Steelworkers union said on Sunday. The move, part of a contract dispute, affects nearly 1,000 workers at the Nanticoke, Ontario plant, which produced about 10 percent of U.S. Steel's raw steel output in 2012.

Earnings beating forecasts but jury's out on rest of season

NEW YORK (Reuters) - U.S. companies have easily beaten expectations for first-quarter earnings so far in the reporting season, but nearly half of the members of the S&P 500 are yet to announce results and they are unlikely to be as robust. With results in from 271 of the S&P 500 companies, year-over-year earnings growth is projected at 3.9 percent, compared with a forecast for 1.5 percent growth at the start of the earnings season, Thomson Reuters data shows. That figure includes those that have reported and analyst estimates for those who have not.

Abu Dhabi plans financial free zone, may resemble Dubai

ABU DHABI (Reuters) - The oil-rich emirate of Abu Dhabi is putting finishing touches to plans to establish a financial free zone that could resemble, and therefore compete with, the Dubai International Financial Centre, sources familiar with the matter said. A federal decree was passed by the United Arab Emirates' President Sheikh Khalifa bin Zayed al-Nahayan in February to create the area, known as the Abu Dhabi World Financial Market, on Al Maryah island, the sources told Reuters.

Dell investors may still gain after Blackstone pullout: Barron's

NEW YORK (Reuters) - Dell shareholders could still stand to profit even after Blackstone Group LP withdrew its bid to buy the world's No. 3 personal computer maker more than a week ago, Barron's said on Sunday. On April 19, Blackstone's move knocked Dell shares to a two-month low and narrowed the fight for Dell between activist investor Carl Icahn and the company's founder Michael Dell and Silver Lake Partners, the newspaper said.

Analysis: China's 4G bonanza to shake up mobile gear vendor market

STOCKHOLM/PARIS (Reuters) - Chinese telecom operators will start awarding contracts for super-fast mobile networks this year, kicking off the third wave of a global investment cycle that is reshaping the competitive landscape among telecom equipment makers. China, the world's biggest mobile market with 1.1 billion subscribers, is likely to further alter the picture at the expense of European suppliers by giving a huge boost to Huawei and its smaller Chinese rival ZTE .

Italian court rejects Nomura seizure order: sources

SIENA, Italy (Reuters) - An Italian judge has rejected an order to seize around 1.8 billion euros ($2.3 billion) of assets from Nomura as part of a probe into suspected fraud involving troubled lender Monte dei Paschi di Siena , legal sources said on Saturday. Assets worth 140 million euros that were already seized from the Japanese bank have been released under the judge's ruling, which was made on Friday, the judicial source said.

Source: http://news.yahoo.com/ca-business-summary-022057839.html

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