CA-BUSINESS Summary

Record Wall Street boosts sentiment, U.S. holds key in Q2

TOKYO (Reuters) - Whether the world's largest economy can sustain momentum will be a primary focus for investors for the next three months after a general recovery trend in the United States helped risk sentiment for broad markets in the first quarter of 2013. Asian shares edged higher and the euro steadied on Friday after banks in Cyprus reopened to relative calm. Overall trade was subdued, with many Asian markets, including Australia, Singapore and Hong Kong, closed on Friday for Easter holidays.

Banks lift TSX on Cyprus calm; index up for quarter

TORONTO (Reuters) - Canada's main stock index powered ahead in a late surge on Thursday, led by strength in financial and industrial shares, on relief that banks in Cyprus reopened relatively smoothly following a bailout deal. The market received further support from BlackBerry after the smartphone maker reported a surprise quarterly profit.

More trouble for Cohen's SAC Capital as Steinberg indicted in NY

(Reuters) - U.S. prosecutors on Friday charged Michael Steinberg, a veteran portfolio manager at Steven A. Cohen's hedge fund, with insider trading in two technology stocks, the most senior SAC Capital Advisors' employee to be indicted in the government's long-running probe. FBI agents arrested Steinberg at his Park Avenue home in New York City at around 6 a.m. EDT (1000 GMT). Steinberg, wearing a blue sweater, pleaded "not guilty" to charges of securities fraud and conspiracy to commit securities when he appeared at a late morning arraignment.

Loeb's Third Point outperforms hedge fund rivals again

BOSTON (Reuters) - Hedge fund manager Daniel Loeb outperformed his rivals again in the first quarter with returns that kept pace with the stock market's recent rally, a person familiar with Loeb's returns said. The New York-based manager told investors late on Thursday that his flagship Third Point Offshore Fund rose 2.8 percent in March while the Third Point Ultra fund, the leveraged version of the Offshore fund, gained 4.2 percent.

Cyprus says threat contained, no plan to leave euro

NICOSIA (Reuters) - The president of Cyprus said on Friday the risk of bankruptcy had been contained and the country had no intention of leaving the euro, in a speech laden with criticism of Europe's currency union for "experimenting" with the island's fate. Conservative leader Nicos Anastasiades spoke a day after banks reopened following an almost two-week shutdown imposed as the country raced to clinch a rescue package from the European Union.

Quarter of U.S. firms in China face data theft: business lobby

BEIJING (Reuters) - A quarter of firms that are members of a leading U.S. business lobby in China have been victims of data theft, a report by the group said on Friday, amid growing vitriol between Beijing and Washington over the threat of cyber attacks. Twenty-six percent of members who responded to an annual survey said their proprietary data or trade secrets had been compromised or stolen from their China operations, the American Chamber of Commerce in China report said.

Exclusive: Indonesia's CT Corp proposes all-cash deal for Bakrie's media unit

TANJUNG BENOA, Indonesia (Reuters) - Indonesia's fifth-richest man has proposed to buy a controlling stake in PT Visi Media Asia, valued at up to $1.8 billion, in an all-cash deal that would give him the lion's share of the TV advertising market in Southeast Asia's biggest economy. Chairul Tanjung, the billionaire founder and chairman of CT Corp, a conglomerate with banking and media interests, told Reuters that his company wanted to buy the stake in the media unit of Indonesia's powerful Bakrie family without any partners.

Deutsche Bank probe finds incomplete data given to prosecutors: magazine

FRANKFURT (Reuters) - An internal investigation at Deutsche Bank has found that incomplete data related to a carbon tax fraud probe were handed over to prosecutors, German magazine Der Spiegel said on Friday. The probe is one of several legal headaches with which Germany's biggest lender is grappling.

Sony, Olympus delay medical venture as regulatory approval on hold

TOKYO (Reuters) - Japan's Sony Corp and Olympus Corp have again delayed the start of a joint venture to develop medical equipment because they have yet to gain approval from some regulators. "The examination by the relevant authority is taking longer than expected," the two companies said in a statement. They did not set a new date for operations to start.

Power firm CEZ files complaint with EU against Bulgaria

PRAGUE (Reuters) - Czech power producer CEZ filed a complaint with the European Commission against Bulgaria on Friday for the government's moves to take away the company's license in the Balkan country. CEZ has had a rough ride in Bulgaria since public protests against high electricity prices led to the fall of Prime Minister Boiko Borisov in February, and authorities have struck out against CEZ and other power firms.

Source: http://news.yahoo.com/ca-business-summary-012855661--finance.html

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