CA-BUSINESS Summary

Record Wall Street boosts sentiment, U.S. holds key in Q2

TOKYO (Reuters) - Whether the world's largest economy can sustain momentum will be a primary focus for investors for the next three months after a general recovery trend in the United States helped risk sentiment for broad markets in the first quarter of 2013. Asian shares edged higher and the euro steadied on Friday after banks in Cyprus reopened to relative calm. Overall trade was subdued, with many Asian markets, including Australia, Singapore and Hong Kong, closed on Friday for Easter holidays.

Banks lift TSX on Cyprus calm; index up for quarter

TORONTO (Reuters) - Canada's main stock index powered ahead in a late surge on Thursday, led by strength in financial and industrial shares, on relief that banks in Cyprus reopened relatively smoothly following a bailout deal. The market received further support from BlackBerry after the smartphone maker reported a surprise quarterly profit.

Quarter of U.S. firms in China face data theft: business lobby

BEIJING (Reuters) - A quarter of firms that are members of a leading U.S. business lobby in China have been victims of data theft, a report by the group said on Friday, amid growing vitriol between Beijing and Washington over the threat of cyber attacks. Twenty-six percent of members who responded to an annual survey said their proprietary data or trade secrets had been compromised or stolen from their China operations, the American Chamber of Commerce in China report said.

Cyprus bank controls to last a month, minister says

NICOSIA (Reuters) - Cyprus conceded on Thursday that tight capital controls would remain in force longer than expected as the island's banks reopened for the first time after the government was forced to accept a tough EU rescue package to avoid bankruptcy. Cypriots lined up calmly to withdraw limited amounts of cash, but there was no sign of a run on deposits, as had been feared.

Sony, Olympus delay medical venture as regulatory approval on hold

TOKYO (Reuters) - Japan's Sony Corp and Olympus Corp have again delayed the start of a joint venture to develop medical equipment because they have yet to gain approval from some regulators. "The examination by the relevant authority is taking longer than expected," the two companies said in a statement. They did not set a new date for operations to start.

Exclusive: Indonesia's CT Corp proposes all-cash deal for Bakrie's media unit

TANJUNG BENOA, Indonesia (Reuters) - CT Corp, one of Indonesia's emerging conglomerates, has proposed an all-cash deal for a controlling stake in media firm PT Visi Media Asia , valued at up to $1.8 billion, to strengthen its position in the media business in Southeast Asia's biggest economy. The founder and chairman of CT Corp, Chairul Tanjung, told Reuters that his firm wanted to purchase Visi Media, a unit of Indonesia's powerful Bakrie family, without any partners.

Indonesia should ban all private cars from using subsidized fuel: adviser

TANJUNG BENOA, Indonesia (Reuters) - Indonesia should slap a nationwide ban on the use of subsidized fuel by the country's 11 million private cars, a move that would save the government $8.6 billion this year and erase a widening fiscal deficit, a presidential adviser said. President Susilo Bambang Yudhoyono is struggling to find a way to deal with runaway fuel subsidy costs that now account for more than 30 percent of state spending and are draining funds that should be used for much-need infrastructure in Southeast Asia's largest economy.

Boeing CEO urges FAA to return 787 to service, delays continue

WASHINGTON (Reuters) - - Boeing Co Chief Executive Jim McNerney on Thursday urged regulators reviewing battery problems on the company's grounded 787 passenger jet to let the plane back into service, saying he was confident the redesigned battery was safe. He would not specify when he expected the jet to be flying customers again other than saying "sooner rather than later."

Hockey helps Canada's economy grow again in January

OTTAWA (Reuters) - Canada's economy bounced back from a year-end slump in January thanks to factories, mines and the return of professional ice hockey, but growth still looks too weak to match the central bank's upbeat outlook and interest rates are unlikely to budge until 2014. Gross domestic product expanded by 0.2 percent in the month, Statistics Canada said on Thursday, following the weakest two quarters since the 2008-09 recession and a 0.2 percent contraction in December.

Oil veteran Gandur plans Canada IPO for Oryx Petroleum

GENEVA (Reuters) - Addax & Oryx Group (AOG), chaired by billionaire Jean Claude Gandur, plans to list its oil exploration subsidiary Oryx Petroleum in Canada, the firm said on its website. Oil industry veteran Gandur was catapulted onto the Forbes rich list in 2009 when he sold Addax Petroleum to Sinopec three years after its IPO.

Source: http://news.yahoo.com/ca-business-summary-012855661--finance.html

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