The following are the overnight top stories: 1. Asia Stocks Climb After S&P 500 Record as Aussie Gains With Gas 2. Anbang Said to Study Purchase of Hong Kong’s Wing Hang Bank 3. Aussie Seen Tumbling Amid RBA Talk of Intervention: Currencies 4. Sinopec Warned Urbanization Threatened Pipeline Repairs: Energy 5. Microsoft Board Said to Lean to Mulally, Nadella in CEO Search 6. Turkcell Sues South Africa’s MTN Over Iran Mobile License 7. South African Court Orders Probe of Zimbabwe Torture Allegations 8. Strikes Cost More Than Wages as GDP Reels: South Africa Credit 1) Asia Stocks Climb After S&P 500 Record as Aussie Gains With Gas Asian stocks rose for the first time in three days after U.S. equity indexes climbed to records and the yen touched a six-month low. Australia’s dollar rallied and natural gas increased for a seventh day. The MSCI Asia Pacific Index advanced 0.7 percent at 11:14 a.m. in Tokyo, set for the biggest gain since Nov. 18. Standard & Poor’s 500 Index futures rose 0.1 percent after the gauge closed at an all-time high in New York. 2) Anbang Said to Study Purchase of Hong Kong’s Wing Hang Bank Anbang Insurance Group is among companies considering bids for Wing Hang Bank Ltd., Hong Kong’s second-largest family-run lender, according to four people with knowledge of the matter. Beijing-based Anbang, which offers insurance and asset management, has held talks to buy the 45 percent stake held by members of Chairman Patrick Fung’s family. 3) Aussie Seen Tumbling Amid RBA Talk of Intervention: Currencies Traders are betting Australia’s dollar will extend its biggest decline in five years as policy makers flag that intervention to weaken the currency is an option, 30 years after they dropped exchange controls. Contracts giving the right to sell the Aussie against the U.S. dollar have the highest premium over those allowing purchases since September. 4) Sinopec Warned Urbanization Threatened Pipeline Repairs: Energy China Petroleum & Chemical Corp. warned authorities in China two years ago that urbanization was hampering repair work on a crude oil pipeline in the eastern city of Qingdao. A blast last week at the pipe killed 55 people. The pipeline had “several safety hazards,” Beijing-based Sinopec, as the company is known, said in a September 2011 report, submitted to the Environmental Protection Bureau in Weifang, a city near Qingdao. 5) Microsoft Board Said to Lean to Mulally, Nadella in CEO Search Microsoft Corp.’s board is focusing on more likely chief executive officer candidates, a group that includes Ford Motor Co. CEO Alan Mulally and internal executive Satya Nadella, according to people familiar with the matter. While internal candidate Tony Bates and former Nokia Oyj CEO Stephen Elop remain in the mix, they’re currently considered less likely to be offered the job, said the people, who asked not to be identified. 6) Turkcell Sues South Africa’s MTN Over Iran Mobile License Turkcell Iletisim Hizmetleri AS, Turkey’s biggest mobile-phone operator, sued South Africa’s MTN Group Ltd. for a second time over the award of an Iranian mobile license. Turkcell filed the claim in a Johannesburg court as the latest step in an attempt to obtain compensation relating to the tender for a license awarded to MTN in 2005, the Istanbul-based company said in a statement. 7) South African Court Orders Probe of Zimbabwe Torture Allegations South Africa’s Supreme Court of Appeal ruled that the country’s police should investigate alleged crimes against humanity in neighboring Zimbabwe. The charges of “widespread and systematic torture” are serious enough for South African authorities to pursue their perpetrators even if the wrongdoing was committed in another country, the Bloemfontein-based court ruled today. 8) Strikes Cost More Than Wages as GDP Reels: South Africa Credit Strikes at South African automakers in the third quarter sent manufacturing into a slump, leaving economic growth on course to expand at the slowest pace since a 2009 recession. Gross domestic product rose an annualized 0.7 percent in the three months through September, down from a revised 3.2 percent in the previous quarter.
Posted on: Thu, 28 Nov 2013 12:07:30 +0000
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