Yahoo! News: Health News

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• Wall Street down as data raise global growth concerns
• Manufacturing growth slowest in 18 months: Markit
• Pressure mounts on Barclays' Diamond over Libor scandal
• GlaxoSmithKline settles healthcare fraud case for $3 billion
• Apple pays $60 million to settle China iPad trademark dispute
• Dell to buy Quest Software for $2.4 billion
• Airbus to open factory on rival Boeing's U.S. turf
• Blackstone starts advisory business in Germany
• EverBank to buy GE Capital unit for $2.51 billion
• Sunoco, Carlyle ink deal to save Philadelphia refinery
• Insurer Aviva expected to axe a quarter of its businesses
• Facebook fallout chills IPO market
• U.S. home prices rose in May: CoreLogic
• France faces tougher cuts despite Hollande promises
• General Motors to transfer European logistics to Gefco
• Micron to buy Japanese chip maker Elpida
• Finns, Dutch cast first doubt on euro zone deal
• Analysis: U.S. companies blame Europe for earnings warnings
• China vows to contain financial risks amid reforms
• Slump in export orders hits Asian factories
• Euro zone factories hit hard in June, job cuts rise
• Economists cut Brazil 2012 growth view to 2.05 percent
• Giant Japan pension fund to dip toe in emerging markets
• ING starts UBS, Credit Suisse, Julius Baer
• Euro defeat for Merkel? Only time will tell
• ECB's Asmussen tells Greece to focus on reforms
• Israel sought $1 billion IMF loan for Palestinians
• Macau gambling revenue growth misses expectations
• Insight: Oohlalabama! Airbus finally goes American
• Wake-up call for France: Budget cuts needed
• Noisy strikers gather outside NY utility HQ
• US construction spending rose 0.9 percent in May
• Sunoco refinery to stay open in Philadelphia
• Demands grow for UK to consider cutting EU ties
• Dell buying Quest Software for $2.36 billion
• Oil falls 2 pct on weaker US, China data
• Airbus to build 1st US assembly plant in Alabama
• UK fraud office weighs prosecutions of Barclays
• US manufacturing shrinks for first time in 3 years

Wall Street down as data raise global growth concerns Posted: 02 Jul 2012 07:45 AM PDT NEW YORK (Reuters) - Stocks edged lower on Monday as weak manufacturing data at home and abroad raised concerns about global economic growth. Last Friday's rally on Wall Street, boosted by hopes that the euro zone was a step closer to solving its debt crisis, ran out of steam on Monday as the Institute for Supply Management's June manufacturing index showed the U.S. factory sector suffered its first contraction since July 2009. ...

Manufacturing growth slowest in 18 months: Markit Posted: 02 Jul 2012 06:58 AM PDT NEW YORK (Reuters) - The U.S. manufacturing sector grew in June at its most sluggish rate in 18 months as the pace of output, hiring and new orders all slowed, an industry survey showed on Monday. The final Markit U.S. Manufacturing Purchasing Managers Index stood at 52.5 in June, below both a preliminary estimate of 52.9 and May's reading of 54.0. June marked the lowest showing since December, 2010. U.S. factories were hurt by weak European demand for U.S. goods. ...

Pressure mounts on Barclays' Diamond over Libor scandal Posted: 02 Jul 2012 08:19 AM PDT LONDON (Reuters) - Pressure mounted for Barclays Plc chief executive Bob Diamond to quit after Britain's third-biggest bank sacrificed its chairman over an interest rate rigging scandal that has dealt "a devastating blow" to its reputation. Chairman Marcus Agius, who said "the buck stops with me", is the first major scalp from a scandal that cost Barclays a record fine and is likely to involve more banks and embarrass financial regulators. ...

GlaxoSmithKline settles healthcare fraud case for $3 billion Posted: 02 Jul 2012 08:42 AM PDT WASHINGTON (Reuters) - GlaxoSmithKline Plc has agreed to plead guilty to misdemeanor criminal charges and pay $3 billion to settle the largest case of healthcare fraud in U.S. history. The settlement includes $1 billion in criminal fines and $2 billion in civil fines in connection with the sale of the drug company's Paxil, Wellbutrin and Avandia products, according to filings in federal court on Monday. Deputy U.S. Attorney General James Cole said at a news conference in Washington that the settlement "is unprecedented in both size and scope. ...

Apple pays $60 million to settle China iPad trademark dispute Posted: 02 Jul 2012 05:34 AM PDT SHANGHAI (Reuters) - Apple Inc has paid $60 million to Proview Technology (Shenzhen) to end a dispute over the iPad trademark in China that saw the world's most valuable technology company engaged in a protracted legal tussle with a near-bankrupt Chinese firm. The lawsuit had hampered some sales and delayed the launch of the new iPad in China. Prior to the launch, Proview requested Chinese authorities in scores of Chinese cities to order re-sellers to take all iPads off their shelves. ...

Dell to buy Quest Software for $2.4 billion Posted: 02 Jul 2012 07:05 AM PDT (Reuters) - Dell Inc will buy Quest Software Inc for $2.4 billion in cash in an effort to expand its software business and decrease its dependence on the declining personal computer market. Dell said on Monday it will pay $28 per share, trumping a bid from private investment firm Insight Ventures, adding that it expects the deal to close in the third quarter. Dell sparked a bidding war in June, when it offered $25.50 per share for Quest, an enterprise management software maker, topping Insight's initial offer in March of $23 per share. Insight later bid $25.75 a share for Quest. ...

Airbus to open factory on rival Boeing's U.S. turf Posted: 02 Jul 2012 08:27 AM PDT MOBILE, Alabama (Reuters) - European planemaker Airbus confirmed plans on Monday to build its first assembly plant in the United States, marking an aggressive foray into the world's busiest aviation market and the home turf of rival Boeing Co . The world's largest commercial jetmaker, an EADS unit, said the Mobile, Alabama, plant would build up to 50 A320-family jets annually within two years of its 2016 opening and provide 1,000 jobs. It will be the second Airbus plant outside Europe that manufactures its most popular jet, after China. ...

Blackstone starts advisory business in Germany Posted: 02 Jul 2012 08:42 AM PDT FRANKFURT (Reuters) - Buyout firm Blackstone Group LP has expanded its business in Germany with an investment banking advisory office, seeking to tap into a wave of restructuring deals, said John Studzinski, global head of Blackstone Advisory Partners. "Germany is one of the two or three economies in the world that everybody wants to talk about. We see ourselves being focused on financial institutions in Germany, on the Mittelstand, and on restructuring," Studzinski said, referring to the medium-sized companies typical of the German economy. ...

EverBank to buy GE Capital unit for $2.51 billion Posted: 02 Jul 2012 06:44 AM PDT (Reuters) - Private equity-backed EverBank Financial Corp said it would buy GE Capital's Business Property Lending Inc division for $2.51 billion to boost its ability to lend to small and mid-sized companies, driving up its shares 6 percent. EverBank, which went public in May and has a market value of $1.26 billion, has used acquisitions to diversify its operations and increase its assets. The lender bought MetLife Inc's warehouse finance business in February. The latest deal includes about $2. ...

Sunoco, Carlyle ink deal to save Philadelphia refinery Posted: 02 Jul 2012 08:44 AM PDT NEW YORK (Reuters) - Sunoco Inc and private equity firm Carlyle Group LP reached a joint-venture agreement on Monday to keep the largest refinery on the East Coast in operation. Under terms of the deal, Sunoco will retain a minority stake in the 335,000-barrel-per-day (bpd) plant, the oldest continuously running refinery in the region, while Carlyle will oversee its daily operations, the companies said in a statement. JPMorgan Chase & Co's commodities division will supply the refinery with crude and non-crude feedstocks and purchase fuel produced by the plant for offtake. ...

Insurer Aviva expected to axe a quarter of its businesses Posted: 02 Jul 2012 08:08 AM PDT LONDON (Reuters) - Aviva , Britain's second biggest insurer, will on Thursday unveil plans to sell or close up to a quarter of its businesses in a shake-up designed to bolster its finances and reinvigorate its flagging share price. The company, whose weak stock market performance led to the removal of chief executive Andrew Moss in May, will say it aims to offload or shut about 15 of its 58 business units at an investor presentation in London, a source familiar with the matter said. ...

Facebook fallout chills IPO market Posted: 02 Jul 2012 06:42 AM PDT (Reuters) - The number of initial public offerings in the second quarter ground to a halt because of Facebook's disappointing public debut, according to new data from the National Venture Capital Association (NVCA) and Thomson Reuters. While Facebook Inc's $16 billion offering made the second quarter the strongest period on record by dollars raised, the number of deals fell by 50 percent to 11 in the quarter versus the same quarter last year. ...

U.S. home prices rose in May: CoreLogic Posted: 02 Jul 2012 06:39 AM PDT NEW YORK (Reuters) - U.S. home prices rose in May in a fresh sign the battered sector is stabilizing, data analysis firm CoreLogic said on Monday. CoreLogic's home price index gained 1.8 percent from April and was up 2.0 percent from a year earlier. Excluding distressed sales, prices fared even better, gaining 2.3 percent in May and 2.7 percent from a year ago. Homeowners in danger of foreclosure, or in "distress", often sell their homes at a significantly reduced price. "The recent upward trend in U.S. ...

France faces tougher cuts despite Hollande promises Posted: 02 Jul 2012 07:12 AM PDT PARIS (Reuters) - French President Francois Hollande, elected in May on a promise to avoid growth-sapping austerity measures, should make tough savings and public sector job cuts to meet a European deficit target, the national audit office said on Monday. Economists have warned for months that faltering economic growth was gnawing a hole in state revenues, but Hollande kept the issue largely under wraps until he won the presidency and his Socialist party topped parliamentary elections in June. ...

General Motors to transfer European logistics to Gefco Posted: 02 Jul 2012 05:32 AM PDT FRANKFURT (Reuters) - General Motors on Monday said it would transfer the lions share of its logistics business in Europe to Gefco a unit run by French auto maker Peugeot effective 2013. Late last month week Opel Chief Executive Karl-Friedrich Stracke said the alliance between Opel's parent company General Motors and Peugeot would now also include a cooperation between Opel and Gefco, Peugeot's car delivery group. ...

Micron to buy Japanese chip maker Elpida Posted: 02 Jul 2012 08:06 AM PDT (Reuters) - Micron Technology Inc will buy failed Japanese chipmaker Elpida Memory Inc for about $750 million in cash, pushing Micron into second place behind market leader Samsung Electronics in the global market for DRAM memory chips. Micron shares rose more than 5 percent after the deal was announced. The acquisition will give Micron chip manufacturing assets at a heavily discounted price and boost its cash flow. Low prices and steadily rising investment costs to implement new technologies have driven consolidation in the highly competitive and cyclical memory chip industry. ...

Finns, Dutch cast first doubt on euro zone deal Posted: 02 Jul 2012 08:35 AM PDT HELSINKI (Reuters) - Finland and the Netherlands, the euro zone's most hardline creditor states, cast the first doubts on Monday on a European summit deal designed to save Spain and Italy from being engulfed by the currency bloc's debt crisis. The Finnish government told parliament that Helsinki and its Dutch allies would block the euro zone's permanent bailout fund buying bonds in secondary markets. Euro zone leaders agreed last Friday that rescue funds could be used in a "flexible and efficient manner" to lower government borrowing costs. Their statement gave no further detail. ...

Analysis: U.S. companies blame Europe for earnings warnings Posted: 01 Jul 2012 09:05 PM PDT NEW YORK (Reuters) - As an increasing number of American companies warn their earnings will fall short of expectations, many are pointing the finger at Europe as the culprit. As the second-quarter corporate results season gets underway in the next few weeks, the euro zone debt crisis, weak European demand, the euro currency's decline and the impact of it all on the global economic environment, will be front and center. ...

China vows to contain financial risks amid reforms Posted: 02 Jul 2012 03:26 AM PDT BEIJING (Reuters) - China will step up efforts to curb financial risks as it continues with reforms to make country's interest rates and currency regime more market-driven, the central bank said on Monday. "We will further deepen key reforms, including those on market-oriented interest rates and the formation of its exchange-rate mechanism, to create a sound environment for maintaining relatively stable and fast growth," the central bank said in a brief summary of its 2012 financial stability report. It has yet to publish the full report. ...

Slump in export orders hits Asian factories Posted: 01 Jul 2012 11:11 PM PDT BEIJING (Reuters) - A factory slump in Asia's two biggest exporters China and Japan deepened in June as crumbling orders from abroad dragged activity to seven-month lows, heightening worries that the health of the global economy is deteriorating. PMI reports on major exporters South Korea and Taiwan also indicated new orders from overseas were falling. The manufacturing sectors in these countries contracted in June for the first time in five months, the reports showed. In India, where the economy is more reliant on domestic activity, the factory sector picked up in June. ...

Euro zone factories hit hard in June, job cuts rise Posted: 02 Jul 2012 03:38 AM PDT LONDON (Reuters) - Euro zone manufacturing took another hefty blow in June and factories are preparing for worse to come, according to business surveys on Monday that showed jobs were cut at the fastest rate in two-and-a-half years. Markit's Eurozone Manufacturing Purchasing Managers' Index (PMI) was unchanged at 45.1 in June, above the preliminary reading of 44.8 and holding at its lowest reading since June 2009. ...

Economists cut Brazil 2012 growth view to 2.05 percent Posted: 02 Jul 2012 04:41 AM PDT SAO PAULO (Reuters) - Economists cut their forecasts for economic growth in Brazil this year for the eighth straight week, to 2.05 percent from 2.18 percent, a central bank survey showed on Monday. The outlook for Brazil's benchmark IPCA inflation rate in 2012 eased to 4.93 from 4.95 percent a week earlier, according to the survey, which tracks weekly forecasts of the most-widely watched economic indicators in Brazil. The world's No.6 economy grew a slower-than-expected 0. ...

Giant Japan pension fund to dip toe in emerging markets Posted: 02 Jul 2012 03:05 AM PDT TOKYO (Reuters) - Japan's Government Pension Investment Fund, the world's biggest public pension fund, said on Monday it had selected six asset managers to make its first investments in emerging markets as it tries to boost returns in the face of rising payout obligations. Known as GPIF, the pension fund, whose 108.1 trillion yen ($1.35 trillion) in total assets nearly matches the size of the Spanish economy, has become a net seller of its assets in recent years as it tries to cope with Japan's rapidly aging population. ...

ING starts UBS, Credit Suisse, Julius Baer Posted: 02 Jul 2012 01:38 AM PDT (Reuters) - Swiss banks are likely to be under pressure to downsize or restructure their investment banking divisions further, ING said and started coverage of Credit Suisse Group AG , UBS AG and Julius Baer Gruppe AG . The brokerage said it prefers UBS, which is geared more towards growth areas, over Credit Suisse. It started UBS with a "hold" rating and Credit Suisse with a "sell." Baer is a long-term "winner" in private banking, ING analysts wrote in a note and started the bank with a "buy. ...

Euro defeat for Merkel? Only time will tell Posted: 01 Jul 2012 04:02 PM PDT BERLIN (Reuters) - At first glance, the big winners from Europe's latest euro-saving summit were the leaders of Italy, Spain and France. By banding together in a powerful coalition to challenge Germany, the high-stakes meeting seemed to show, Mario Monti, Mariano Rajoy and Francois Hollande were able to wring major crisis-fighting concessions from a suddenly soft Angela Merkel. ...

ECB's Asmussen tells Greece to focus on reforms Posted: 02 Jul 2012 06:33 AM PDT ATHENS (Reuters) - Greece must not lose time trying to renegotiate its foreign bailout but focus on reforms instead, European Central Bank policymaker Joerg Asmussen said on Monday, in a blow to Greek hopes of winning quick concessions from its lenders. Asmussen's comments signaled the tough message the so-called "troika" of EU, ECB and IMF lenders are likely to bring this week to Athens, where a new conservative-led government has promised voters to overhaul the terms of the unpopular bailout. ...

Israel sought $1 billion IMF loan for Palestinians Posted: 02 Jul 2012 02:23 AM PDT JERUSALEM (Reuters) - Israel unsuccessfully sought a $1 billion loan from the International Monetary Fund (IMF) for transfer to the Palestinian Authority to prevent its financial collapse, Israeli and Palestinian officials said on Monday. The IMF turned down the request, according to Israel's Haaretz newspaper, because it did not want to set a precedent of one state getting a loan on behalf of a none-state body. ...

Macau gambling revenue growth misses expectations Posted: 02 Jul 2012 01:35 AM PDT HONG KONG (Reuters) - Macau's gambling revenue growth rebounded last month from May, though the increase was slower than expected, signaling muted spending in the world's largest gambling destination. Revenue rose 12.2 percent from a year earlier to 23.3 billion patacas ($2.92 billion) in June, faster than May's 7.3 percent gain, government data showed on Monday. Analysts had expected a 15 percent increase. Faltering demand and rising credit woes in China are curbing the spending of Macau's key customers - the billionaire VIP gamblers who drop millions of yuan at a time. ...

Insight: Oohlalabama! Airbus finally goes American Posted: 02 Jul 2012 12:56 AM PDT MOBILE, Alabama (Reuters) - Airbus is about to get a Green Card. Plans to build a $600 million plant in Mobile, Alabama to produce A320 passenger planes will give Europe's jet maker a strategic foothold on U.S. soil while breathing life into American manufacturing. By retracing the footsteps of French settlers who founded Mobile as the first capital of then French Louisiana in 1702, the Toulouse-based company hopes to strike directly at rival Boeing on its home turf and create a springboard for future bids to win U.S. aircraft and defense deals. ...

Wake-up call for France: Budget cuts needed Posted: 02 Jul 2012 08:46 AM PDT Welcome to reality, Monsieur Hollande. That's the message France's accounting watchdog sent to new President Francois Hollande with an audit Monday that says his Socialist government must cut up to €43 billion ($54 billion) in spending this year and next if it wants to meet its deficit targets.

Noisy strikers gather outside NY utility HQ Posted: 02 Jul 2012 08:45 AM PDT The scene outside Consolidation Edison's Manhattan headquarters features a chorus of honking, cheers and whistling that can be heard from a couple of blocks away.

US construction spending rose 0.9 percent in May Posted: 02 Jul 2012 08:40 AM PDT A surge in homebuilding pushed U.S. construction spending up by the largest amount in five months, the latest indication that the housing sector is slowly recovering.

Sunoco refinery to stay open in Philadelphia Posted: 02 Jul 2012 08:33 AM PDT The oldest and largest refinery on the East Coast will stay open thanks to a deal between Sunoco and the global asset manager The Carlyle Group, with the groups announcing Monday that they have agreed to terms on a joint venture at the facility.

Demands grow for UK to consider cutting EU ties Posted: 02 Jul 2012 08:33 AM PDT Will Britain's EU membership be one more casualty of the continent's devastating debt crisis?

Dell buying Quest Software for $2.36 billion Posted: 02 Jul 2012 08:31 AM PDT In a move to branch out beyond the weakening personal computer business, Dell said Monday that it's buying Quest Software for about $2.36 billion.

Oil falls 2 pct on weaker US, China data Posted: 02 Jul 2012 08:31 AM PDT Last week's spike in the price of oil may have been a little overdone.

Airbus to build 1st US assembly plant in Alabama Posted: 02 Jul 2012 08:27 AM PDT Airbus made it official Monday, announcing it will build an assembly plant in Alabama to make passenger airplanes, giving the European aerospace giant its first foothold in the United States to compete with archrival Boeing.

UK fraud office weighs prosecutions of Barclays Posted: 02 Jul 2012 08:17 AM PDT British prosecutors said Monday they are examining whether they can bring criminal charges on top of the massive fines imposed on Barclays bank for a financial market manipulation scandal.

US manufacturing shrinks for first time in 3 years Posted: 02 Jul 2012 08:12 AM PDT U.S. manufacturing shrank in June for the first time in nearly three years, a troubling sign as evidence builds that economic growth is slowing.

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