CA-BUSINESS Summary

Japan PM Abe unveils plan for tax cuts to boost capex

TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe said on Sunday the government would decide on tax cuts in autumn to encourage companies to boost capital expenditure as part of sweeping reforms to revive the economy from nearly two decades of stagnation. The government will also work on legislation to scrap regulations hampering corporate research and investment and secure passage in parliament in autumn, he said.

China May CPI slows, gives room for easy monetary policy

BEIJING (Reuters) - China's annual consumer inflation slowed to 2.1 percent in May from April's 2.4 percent, data showed on Sunday, below market expectations and adding to views that the world's second largest economy could slow further in the current quarter. The National Bureau of Statistics also said that China's producer prices fell 2.9 percent last month from a year earlier, compared with a drop of 2.6 percent in April.

China trade data underscores growth worries

BEIJING (Reuters) - China's exports posted their lowest growth rate in almost a year in May while imports unexpectedly fell, government data showed on Saturday, underlining concerns that growth in the world's second-largest economy could slow anew in the second quarter. Evidence has mounted in recent weeks that the economy is fast losing growth momentum as sluggish domestic demand fails to make up for lethargic export sales.

TSX slumps to 1-month low as gold dives

TORONTO (Reuters) - Canada's main stock index slipped to a one-month low on Friday as a slump in gold miners, which followed a tumbling bullion price, offset strength in several other sectors after a robust U.S. jobs report. The market's decline, its sixth straight daily drop, sharply contrasted with strong gains seen south of the border.

Bombardier moves CSeries to test center ahead of maiden flight

TORONTO (Reuters) - Bombardier Inc. has moved its CSeries jet to its Mirabel flight test center near Montreal ahead of a maiden flight scheduled for the end of June, a senior executive said on Friday. The all-new single-aisle CSeries is Bombardier's biggest plane to date, and industry watchers have been keen to know the timing of the move to the test center, viewing it as the latest sign that the aircraft is on track for its first flight.

Exclusive: SoftBank eyes T-Mobile US as ?Plan B'

(Reuters) - SoftBank Corp is in talks with Deutsche Telekom AG over a possible deal for T-Mobile US Inc , as the Japanese company looks for alternatives to enter the U.S. wireless market if its deal with Sprint Nextel Corp falls apart, three sources familiar with the matter said on Friday. SoftBank and Deutsche Telekom were in talks last year about a deal for T-Mobile USA and have had periodic discussions since then, but those conversations have intensified in recent weeks after Dish Network Corp made a $25.5 billion counterbid for Sprint, two of the sources said. SoftBank has a deal to buy 70 percent of Sprint for $20.1 billion.

ICE chief ready to cede NYSE market share in bid to end rebates

NEW YORK (Reuters) - The New York Stock Exchange may cede some of its share in U.S. stocks in an effort to end large trading incentives after NYSE Euronext's $8.2 billion sale to IntercontinentalExchange goes through, ICE's chief executive said on Friday. Jeff Sprecher has been critical of the practice by U.S. stock exchanges of giving large rebates on trading fees to attract order flow, calling the practice "ridiculous" during a talk at a global exchanges conference sponsored by Sandler O'Neill & Partners.

Mexico says it may suspend U.S. trade preferences over meat labels

MEXICO CITY (Reuters) - Mexico's Economy Ministry said on Friday it was considering suspending preferential trade tariffs with the United States for a variety of products in a simmering dispute over meat labeling. The disagreement stems from a 2009 U.S. requirement that retail outlets specify the country of origin on labels on meat and other products in an effort to give consumers more information about the safety and origin of their food.

UK lawmakers meet to thrash out bank reforms

LONDON (Reuters) - New proposals to improve standards and culture within UK banks will be thrashed out by British lawmakers in important meetings next week which could shape the industry for years to come. The Parliamentary Commission on Banking Standards, led by Conservative Andrew Tyrie, was set up by the government last July after Barclays was found to have manipulated global interest rate benchmarks, sparking public outrage.

Vodafone says paid no UK corporation tax in two years

LONDON (Reuters) - Vodafone Group Plc said it paid no corporation tax in Britain for the year to March 2013, prompting fresh criticism from campaigners who have made the UK mobile telephone group a target in the debate on corporate tax payments. Revelations of profit shifting by big companies have provoked anger among austerity-weary citizens across Europe and political leaders have pledged to act.

Source: http://news.yahoo.com/ca-business-summary-021847753.html

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