CA-BUSINESS Summary

Wall Street Week Ahead: In earnings frenzy, will Apple get crushed?

NEW YORK (Reuters) - Apple may have lost nearly half of its value since its peak in September, but it's still the talk of the town. Only this time, it's all about how low can it go? Wall Street would normally be set for a technical rebound after a drop of more than 2 percent, the worst weekly decline so far this year. But that could easily change by the time the iPhone maker reports its earnings, which are due on Tuesday after the closing bell.

Exclusive: Bernanke to skip Jackson Hole due to scheduling conflict

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke will miss the annual Jackson Hole monetary policy symposium this year due to a scheduling conflict, skipping the prestigious event for the first time since taking the helm of the central bank in 2006. The conference, held in late August in the splendor of the Grand Teton National Park in Wyoming, draws top central bankers from around the world. Bernanke's absence would mark the first time in 25 years that a Fed chairman has not attended.

Japan wins approval from member countries to join Trans-Pacific trade talks

TOKYO (Reuters) - Japan won approval from participating countries to join talks on a U.S.-led Asia Pacific free trade agreement, central to Prime Minister Shinzo Abe's plans to open the economy to more competition and revive growth. The formal invitation for Tokyo to join the negotiations was extended at a meeting of members of the Trans-Pacific Partnership (TPP) on Saturday on the sidelines of the Asia-Pacific Economic Cooperation gathering in Surabaya, Indonesia, according to a joint statement.

Action needed to boost confidence in global economy, IMF says

WASHINGTON (Reuters) - Global finance officials on Saturday said monetary policy alone was not enough to restore confidence in the shaky global economy as they urged countries to take other steps to reinvigorate growth and create jobs. "We need to act decisively to nurture a sustainable recovery and restore the resilience of the global economy," the International Monetary Fund's steering committee said at the conclusion of the world lender's spring meeting.

FAA approves Boeing Dreamliner battery system design

(Reuters) - U.S. regulators approved on Friday a revamped battery system for Boeing Co's 787 Dreamliner, a crucial step in returning the high-tech jet to service after it was grounded in January because its lithium-ion batteries overheated. The Federal Aviation Administration (FAA) approval of design changes allows Boeing to immediately begin making repairs to the fleet of 50 planes owned by airlines around the world.

Banks, gold shares drive TSX gains as sentiment improves

TORONTO (Reuters) - Canada's main stock index climbed on Friday, as improved investor sentiment and a rise in the price of some commodities fueled gains in financial and material shares, offsetting a decline in energy companies. The gains failed to stem a 2.2 percent fall in the index this week, its second-biggest weekly decline of the year, triggered by a giant commodities selloff on Monday, when the price of gold posted its biggest ever drop.

Most EU bank union work can be done without law change: Eurogroup head

WASHINGTON (Reuters) - The euro zone's top project to boost economic growth - banking union - will not be delayed for now by a row over whether it needs EU law changed because most of the work can be done before this is settled, a senior euro zone official said on Saturday. Jeroen Dijsselbloem, the Dutch finance minister who chairs the monthly meetings of his euro zone colleagues, said the dispute on the legal requirements of the banking union can go in parallel with more technical work on how it would function.

GM's Opel returns to Shanghai auto show with limited ambitions

FRANKFURT (Reuters) - General Motors' troubled Opel division is returning to China's main auto show after a five-year absence, with three new cars at the center of a long-promised push into the world's largest market. In Germany, where Opel employs around 20,000 workers, the move may please unions and politicians anxious to preserve jobs in an election year.

GM to add four more plants in China by 2015: executive

SHANGHAI (Reuters) - General Motors Co will add four new plants in the next three years in China to bring its production capacity to 5 million vehicles a year, the head of GM China said on Saturday at the Shanghai auto show. Bob Socia, head of GM China, said that the company and its joint venture partners will invest $11 billion in China by 2016, but did not break out the cost of the new plants.

Austrians say end bank secrecy for foreigners: polls

VIENNA (Reuters) - Most Austrians are in favor of relaxing the strict banking secrecy rules that have isolated the Alpine republic from its European peers, according to two polls published on Saturday. Only 18 percent want to keep banking secrecy in its current form, a Gallup poll for daily tabloid Oesterreich found, while a second poll for news weekly profil found only 14 percent would be opposed to Austria's sharing details of foreigners' accounts.

Source: http://news.yahoo.com/ca-business-summary-013721857--finance.html

pacquiao Jim DeMint Dave Brubeck frankie muniz today show katt williams greg mcelroy