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S&P upgrades Cyprus on better economic performance

NICOSIA, Cyprus (AP) ? Credit rating agency Standard & Poor's is more upbeat about Cyprus' public finances following a better-than-expected performance since the country's financial rescue a year ago.

India's growth prospects dim regardless of election outcome - Reuters Poll

Workers pour melted copper in a mould to make utensils and accessories inside a workshop in SrinagarBy Ashrith Rao Doddi BANGALORE (Reuters) - Prospects for a strong economic rebound in India are dim as industry remains weak, and although a business-friendly opposition party looks likely to form a new government, its ability to pass sweeping reforms is in doubt, a Reuters poll showed. An anticipated victory for the Bharatiya Janata Party's (BJP) at the conclusion next month of an ongoing election in the world's largest democracy has pushed India's stock market to a record high. Anubhuti Sahay, senior economist at Standard Chartered Bank, said that against that backdrop, and with chances of even higher inflation, a strong government with the ability to legislate change is needed to put the economy back on track. "If we get into a situation where again the government, because of coalition politics, is not able to implement good policies, that is the biggest risk.


S&P cuts Russia's credit rating

Secretary of State John Kerry speaks about the situation with Ukraine and Russia from the State Department in Washington, Thursday, April 24, 2014. Kerry is accusing Russia of failing to live up to commitments it made to ease the crisis in Ukraine. (AP Photo/Jacquelyn Martin)MOSCOW (AP) ? The Standard & Poor's credit agency on Friday cut Russia's credit rating for the first time in more than five years, raising the financial stakes flowing from the crisis in Ukraine as tensions rise and the United States and its allies are contemplating further economic sanctions.


ACC, Ambuja slump on non-operational boost in earnings

Reuters Market Eye - Shares in ACC Ltd and Ambuja Cements India Ltd fall even as their earnings beat forecasts as dealers say other income and tax credit contributed significantly to their net profits. ACC falls 3.6 percent even after reporting on Thursday March-quarter net profit of 3.99 billion rupees ($65.35 million), above consensus forecasts for 3.37 billion rupees. Ambuja Cement is down 4.2 percent after the company reported on Friday a forecast-beating 6.6 percent rise in quarterly profit from a year earlier. Ambuja's net profit was helped after other income rose by 53.2 percent to 1.32 billion rupees from a year earlier, according to company's filing.

Fed, OCC differ in enforcing leveraged lending guidelines

A view shows the Federal Reserve building in WashingtonBanking and regulatory sources with direct knowledge of the situation said the U.S. Federal Reserve and the Office of the Comptroller of the Currency (OCC) appear to be taking different approaches to implementing a set of guidelines on leveraged loans, even though they issued them jointly in March last year. The OCC, a division of the U.S. Treasury Department, is zealously implementing them, while the Fed is more relaxed about it, the sources said. While all major Wall Street banks are regulated by the Fed, the OCC oversees only those with national bank charters, which allow a bank to build a nationwide branch network.


Cairn India slumps as Jan-March earnings disappoint

Cairn India employees work at a storage facility for crude oil at Mangala oil field at Barmer in the desert Indian state of RajasthanReuters Market Eye - Shares in Cairn India Ltd slump 4.5 percent as its net profit lags some analysts' estimates, especially after adjusting for other income. Cairn India's January-March net profit rose 18.4 percent to 30.35 billion rupees ($497.1 million) from a year earlier, the company said in a statement after the market close on Wednesday. The oil and gas explorer's net profit was helped by a more than fourfold jump in other income to 3.20 billion rupees from a year earlier.


Trend-setter Apple's stock split could bring out the copycats

By Rodrigo Campos NEW YORK (Reuters) - Apple has long been a trend-setter whose hot products attract imitators, and now its recent stock split might help revive a trend from the 1990s that has all but disappeared on Wall Street. Apple Inc's move might inspire others, some believe, but only modestly. "It could become a bit of a trend when you see a name like Apple decide to split the stock," said Ken Polcari, director of the NYSE floor division at O?Neil Securities. Polcari said Priceline Group Inc, the most expensive single stock on the S&P 500, is a prime candidate.

Asian stocks mixed on US earnings, goods orders

BEIJING (AP) ? Asian stocks were mixed Friday after solid earnings for Apple and Caterpillar and better U.S. durable goods orders.
 
 
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