AstraZeneca Rebuffs Pfizer Again

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

AstraZeneca PLC Monday rejected U.S.'s peer Pfizer Inc.'s increased offer, saying it falls short of its value as an independent science-led company and brings "uncertainty" and risks for shareholders. The U.K. pharmaceutical firm added that any ...

LONDON MARKETS: FTSE 100 Yanked Lower By AstraZeneca, Miners

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

By Sara Sjolin, MarketWatch LONDON (MarketWatch) -- AstraZeneca PLC tumbled in London on Monday after the pharma rejected a sweetened Pfizer offer, while mining firms declined on further signs of a slowdown in the Chinese housing market. The losses weighed on ...

Crude Rises As Hopes Dashed For Libya Production Breakthrough

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

By Cassie Werber LONDON--Crude futures rose on Monday after a weekend in which Libya was again rocked by violence. Brent crude hit $110.33 a barrel, it highest since March 3, after renewed violence in the North African country, which ...

LONDON MARKETS: FTSE 100 Yanked Lower By AstraZeneca, Miners

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

By Sara Sjolin, MarketWatch LONDON (MarketWatch) -- AstraZeneca PLC shares tumbled in London on Monday after the pharmaceutical maker rejected Pfizer Inc.'s increased takeover offer, while some mining firms declined on further signs of a slowdown in the Chinese housing ...

Bernanke Says Central Bank No Engine of Inequality

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

Former Federal Reserve Chairman Ben Bernanke pushed back Monday against the argument that aggressive central bank action in recent years has boosted economic inequality in America. Mr. Bernanke, speaking at an event in Dallas, said the argument that Fed policy ...

Euro-Zone Construction Weakens

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

Construction across the 18 countries that share the euro fell in March, adding to other indications that the currency area's economy ended the first quarter on a weak footing. The European Union's statistics agency Monday said construction was ...

Sweden April Unemployment 445,000

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

The following is a press release from Statistiska Centralbyran, or SCB, the Sweden central government authority for official statistics. STOCKHOLM--In April 2014 the number of employed persons aged 15-74 amounted to 4.7 million (±35,000), not seasonally adjusted, an ...

Dollar Slightly Lower Against Yen Amid Weak Tokyo Stocks

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

By Hiroyuki Kachi The dollar was slightly lower against the yen in Asia trade Monday following weakness in Tokyo stocks, but trade remained quiet as investors took a wait-and-see stance ahead of economic events later this week. As of 0450 ...

Asian Shares Lower on China Data, Australian Mining Stocks

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

Asian markets were mostly lower early Monday, with Australian stocks weighed by falls in mining shares, though Japanese stocks stabilized after strong machinery order data. Although Wall Street ended last week with a gain, Asia moved lower on Monday as ...

Housing Demand Leads Thin Lineup -- Data Week Ahead Update

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

(Updates forecasts for various data points in text and table) By Kathleen Madigan It is a rare week when the data calendar is clear until Thursday, but that is the case this week. The major reports will focus on housing ...

ECB's Weidmann: 'Shortsighted' to Focus on Euro Strength

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

By Christopher Lawton FRANKFURT--Monetary-policy efforts targeted solely toward the euro exchange rate would be "shortsighted," a top European Central Bank official said Monday. ECB officials have made clear they are concerned about the high value of the euro, which weakens ...

Spanish Banks See Dip in Bad Loans

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

MADRID--Bad loans held by Spanish banks fell for the second month in a row in March, indicating that a budding economic recovery is finally starting to benefit the country's lending institutions. Data released Monday by the Bank of Spain ...

AstraZeneca Believes Pfizer Has Made Final Offer

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

LONDON-AstraZeneca PLC (AZN.LN) said it rejected Pfizer Inc.'s (PFE) increased takeover approach because it still undervalued the company and carried a "big execution risk." AstraZeneca Chairman Leif Johansson said that a potential deal would also be "disruptive" to ...

German Economy Will Grow At Slower Tempo, Says Bundesbank

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

By Todd Buell The German economy will grow at a slower tempo in coming months on the back of domestic factors, the country's central bank said in its monthly bulletin published Monday. The bank also warned that a higher ...

European Central Banks To Coordinate Gold Transactions

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

FRANKFURT--Central banks in the euro zone, Switzerland and Sweden have agreed to coordinate their gold transactions and have no plans to sell "significant" amounts, the European Central Bank said Monday. The five-year agreement will apply from Sept. 27, when the ...

Oil Futures Supported by Violence in Libya

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

By Nicole Friedman NEW YORK--Oil futures rose Monday as violence in Libya renewed concerns the nation's oil output would stay below full capacity, keeping global oil supplies tight. Light, sweet crude for June delivery rose 79 cents, or 0 ...

Dauchez Tapped to Head French Unit of Publicis Worldwide

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

PARIS--Hardly 10 days after the collapse of the Publicis-Omnicom merger, Publicis is busy hiring to try to flex its digital muscles. Publicis Worldwide, a unit of the French ad giant, said Monday it tapped Axel Dauchez, current CEO of music ...

Euro Edges Higher Against Major Currencies

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

By James Ramage The euro edged higher against most major currencies Monday as the market appeared to have priced in potential action by the European Central Bank next month to ward off deflation. The euro started the morning stronger against ...

BOND REPORT: Treasurys Swing Lower As Yield Curve Steepens

TODAY: Sept. 17, 2014 PUB DATE: May 19, 2014

By Ben Eisen, MarketWatch NEW YORK (MarketWatch) -- Treasury prices drifted mostly lower Monday as the differential between intermediate and long-term yields widened, reversing last week's move. The 30-year bond (30_YEAR) yield, which rises as prices fall, was up 4 ...