CA-BUSINESS Summary

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.

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.

Most economists see Fed scaling back bond buys by year-end: Reuters poll

NEW YORK (Reuters) - Most economists expect the Federal Reserve to scale back the size of its bond purchases, intended to prop up the economy, by the end of the year, and a sizeable number expect reduced buying as early as September, according to a Reuters poll. Of 48 economists who answered a poll question on Friday about when they expected the Fed to cut back on the size of its debt purchases, 42 said they expected this by the end of 2013. Of those, 21 expect reduced purchases to be announced during the third quarter of the year, with 19 specifying the Fed's September policy meeting.

World Bank keeps business friendliness rating despite criticism

WASHINGTON (Reuters) - The World Bank on Friday said it intends to keep ranking nations on the ease of conducting business, despite criticism from countries like China that feel the scorecard unfairly stigmatizes fast-growing developing economies. World Bank President Jim Yong Kim said the Bank is committed to keeping its flagship "Doing Business" report, including the rating, which compares the ease of starting and conducting a business in 185 countries.

Bank of Canada brings in bond, markets specialist as adviser to Poloz

TORONTO (Reuters) - The Bank of Canada has appointed former Merrill Lynch executive Lynn Patterson as special adviser to new governor Stephen Poloz, the central bank said on Friday. Patterson, who stepped down in April as president of Merrill Lynch Canada and worked in bond sales at Goldman Sachs in the 1990s, will serve a two-year term at the central bank as senior representative of financial markets.

Source: http://news.yahoo.com/ca-business-summary-012700420.html

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