CA-BUSINESS Summary

TSX weakens as China data drags on resource shares

TORONTO (Reuters) - Canada's main stock index slipped on Monday as weak Chinese economic data weighed on commodity prices and pulled shares of energy and materials companies lower. China's factory output growth was surprisingly feeble in April and fixed-asset investment slowed, rekindling concerns that the recovery is stalling.

Dell committee seeks more info from Icahn, Southeastern

NEW YORK (Reuters) - Dell Inc's special board committee asked activist investor Carl Icahn on Monday for details of his plan to buy the computer maker, including how he would finance a cash payout for shareholders and who would run the company if his preferred slate of board directors was installed. Last week, Icahn and Southeastern Asset Management Inc offered $12 in cash per share or additional shares to existing investors as an alternative to Michael Dell's $24.4 billion bid to take the company private. And the billionaire investor warned he would put up his own roster of candidates for the board if shareholders greenlit the company founder's offer.

SocGen CEO's 2012 bonus rises 75 percent

PARIS (Reuters) - Societe Generale Chief Executive Frederic Oudea's bonus rose 75 percent last year to 1.2 million euros ($1.56 million), even as France's No. 2 bank moved to cut costs and sell assets. The disclosure follows a rise in pay for Jean-Laurent Bonnafe, the head of larger rival BNP Paribas , whose bonus rose more than 40 percent to 1.68 million euros in 2012 - his first full year as CEO of France's biggest listed bank.

Risks to China recovery seen as factory output underwhelms

BEIJING (Reuters) - China's factory output growth was surprisingly feeble in April and fixed-asset investment slowed, rekindling concerns that a nascent recovery is stalling and adding to pressure on policymakers to take action to stimulate the economy. However, China's already-easy monetary policy and rising home prices complicate the options available to Beijing's new leadership, leading some analysts to say that any response could be limited to fiscal measures.

Transocean chairman to step down after Icahn attack

(Reuters) - Transocean Ltd said on Monday that Chairman Michael Talbert will step down later this year, in a move that comes just days before the culmination of a fight between the offshore driller and investor Carl Icahn in which Talbert was a target. Talbert, a director since 1994 who was also chief executive from 1994 to 2002, told the board that if re-elected at the upcoming shareholder meeting on May 17, he will step down as chairman by November and leave the board no later than the 2014 annual meeting, Transocean said.

Stemcor and lenders appoint advisors for standstill talks

LONDON (Reuters) - Stemcor's banks have appointed PricewaterhouseCoopers to advise them as they assess the steel trader's proposal for a standstill on $1.2 billion of loans, people familiar with the situation said on Monday. Stemcor's advisors Ernst and Young and Goldman Sachs are helping the company to secure the standstill agreement as lenders form a co-ordinating committee to assess Stemcor's standstill proposal, the people said.

Donations, lobbying by high-speed traders on the rise: report

WASHINGTON (Reuters) - High-frequency trading firms increased their campaign contributions to federal lawmakers by 673 percent from the 2008 to the 2012 election cycle, according to a report that sheds light on their political connections in Washington and efforts to impact policymaking. The report by the Washington-based nonprofit watchdog Citizens for Responsibility and Ethics in Washington (CREW) comes as U.S. financial market regulators mull whether new rules should be adopted to rein in high-speed traders, whom some critics accuse of harming smaller investors.

Kuwait may sign plane deal in May, Airbus favored: source

KUWAIT (Reuters) - Kuwait is studying plans by its airline to buy 25 Airbus jets, a source with knowledge of the matter said, in the most sweeping overhaul since part of its fleet was seized after Iraq invaded the Gulf state in 1990. The proposal calls for state-owned Kuwait Airways to buy 25 new Airbus jets and to lease a further 13 to upgrade its fleet but needs government approval, the source said. It could be signed by the end of this month.

Exclusive: Indian firm in global ATM heist admits system breached

PUNE, India (Reuters) - An Indian payment card processing company acknowledged on Monday that hackers breached its security to increase the limits on some pre-paid card accounts in a global ATM heist in December. ElectraCard Services said no customer data was stolen from it and any tampering of ATM cards occurred elsewhere.

Bloomberg's top editor calls client data policy 'inexcusable'

NEW YORK (Reuters) - Matthew Winkler, editor-in-chief of Bloomberg News, apologized on Monday for allowing journalists "limited" access to sensitive data about how clients used Bloomberg terminals, saying it was "inexcusable", but that important customer data had always been protected. His statement came as the European Central Bank said it was in "close contact with Bloomberg" about any possible breaches in the confidentiality of data usage. The U.S. Federal Reserve and the Bundesbank, Germany's central bank, said they were examining whether there could have been leaks. A source briefed on the situation said the U.S. Treasury Department was looking into the question as well.

Source: http://news.yahoo.com/ca-business-summary-002635842.html

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