CA-BUSINESS Summary

TSX clocks sixth day of gains on U.S. data, Potash results

TORONTO (Reuters) - Canada's main stock index advanced for a sixth straight session on Thursday, helped by resources sectors as U.S. economic data and a stronger-than-expected earnings performance from fertilizer producer Potash Corp buoyed sentiment. Investors were encouraged by data showing the number of Americans filing new claims for unemployment benefits fell last week, offering reassurance that the bottom is not falling out of the U.S. labor market.

Yahoo Chairman Fred Amoroso resigns

(Reuters) - Yahoo Inc Chairman Fred Amoroso is resigning effective immediately, the struggling Internet company announced on Thursday. Amoroso will be replaced in the chairman role by director Maynard Webb Jr. on an interim basis until the company's annual shareholder meeting on June 25.

Amazon growth slows, while profit margins expand

SAN FRANCISCO (Reuters) - Amazon.com Inc's revenue growth slowed in the first quarter as the world's largest Internet retail struggled overseas, but margins jumped on lower shipping expenses and the expansion of more profitable new businesses. Amazon shares fell 1.9 percent to $269.43 in after-hours trading on Thursday following the results.

Starbucks raises outlook but shares fall

(Reuters) - Starbucks Corp reported higher quarterly profit on Thursday that matched Wall Street estimates and it raised its full-year earnings forecast. The world's biggest coffee chain cited increased sales in the United States, its top market, despite an industry-wide spending downturn in February due to a U.S. payroll tax increase that lowered take-home pay.

BOJ stands pat, to face credibility test with new forecasts

TOKYO (Reuters) - The Bank of Japan will probably project on Friday that it will meet its 2 percent inflation target in two years due to its massive stimulus plan, a forecast analysts say may be too optimistic and which could put its credibility on the line. In a reminder of how ambitious and stiff the target is, data on Friday showed core consumer prices marked their fifth straight month of annual declines in March even as the yen's recent falls pushed up import costs.

Samsung Electronics profit jumps ahead of Galaxy S4 debut

SEOUL (Reuters) - Samsung Electronics Co Ltd reported on Friday its sixth straight quarter of profit growth ahead of the debut of its latest Galaxy smartphone, the South Korean IT giant's biggest assault on rival Apple Inc yet. By launching the Galaxy S4 in the United States on Saturday, Samsung is taking aim at Apple's home market at a time when the iPhone maker appears to have hit a snag. Earlier this week, Apple reported its first profit decline in more than a decade and indicated no major product releases until the fall.

Monte Paschi committed to avoid state becoming majority shareholder: CEO

MILAN (Reuters) - Italy's Banca Monte dei Paschi di Siena is committed to avoiding the state becoming a majority shareholder in the bank, chief executive Fabrizio Viola said on Friday. "One thing is having the state as minority shareholder another is imagining the majority becomes public: this latter is a scenario certainly possible but the bank is committed to avoid it," Fabrizio Viola said in an interview in Il Sole 24 Ore.

Asian shares rise on U.S. data, regional earnings eyed

TOKYO (Reuters) - Asian shares rose on Friday, tracking global equities higher after upbeat U.S. labor market data, while the dollar eased slightly on currency markets that were otherwise watching for the strength of signals coming from a Bank of Japan policy review. In the share markets, investors turned attention toward regional corporate earnings to assess the outlook for growth.

New York drops damages claim in suit against ex-AIG chief

NEW YORK (Reuters) - New York's attorney general is dropping a claim for damages in a high-profile civil lawsuit accusing the former chief executive of American International Group Inc , Maurice "Hank" Greenberg, of defrauding investors, according to a letter sent by the attorney general's office on Thursday. The 2005 lawsuit filed by then-Attorney General Eliot Spitzer against Greenberg and former AIG chief financial officer Howard Smith sought as much as $6 billion in damages.

U.S. seizes on ruling to boost Wells Fargo mortgage fraud case

NEW YORK (Reuters) - The Justice Department has promptly capitalized on a court victory to bolster a case before another federal judge, citing a ruling on Wednesday that endorsed the agency's use of a little known financial fraud law to prosecute bank actions during the financial crisis. In a letter made public on Thursday, the agency told District Judge Jesse Furman on Wednesday that the ruling is one reason why its mortgage-fraud case against Wells Fargo & Co should not be dismissed.

Source: http://news.yahoo.com/ca-business-summary-004019720--finance.html

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