Starbucks adds lighter ‘Blonde’ roast to lineup


* Starbucks aims to grab more market share with additionLOS ANGELES, Oct 18 (Reuters) - Starbucks Corp is going “Blonde,” expanding its coffee lineup with its lightest roast to date in a move aimed at wooing more customers and capturing a bigger share of the U.S. coffee market.The world’s biggest coffee company is known for its dark roasts, which have prompted some critics to say the chain’s coffee tastes burned. The new, lighter roast is milder in body and acidity than Starbucks’ traditional coffees and the company expects it to appeal to a broad audience.Mass-market competitors McDonald’s Corp and Dunkin’ Donuts offer milder brewed coffees and in recent years have added lattes, mochas and other sorts of “fancy” espresso drinks popularized by Starbucks.Starbucks will begin selling its new Blonde blends in January through Starbucks cafes and supermarkets.

@2 years ago with 33 notes
#Starbucks #adds #lighter #Blonde #roast #to #lineup 

NY’s Clock Tower Building to sell for $165 mln


* Landmark skyscraper was built in 1889Oct 14 (Reuters) - Africa Israel USA, which went on a buying spree during the height of the U.S. commercial real estate boom, said it had agreed to sell the Clock Tower Building in Manhattan for $165 million, after paying $200 million in 2007.The Israeli-based holding and investment group declined to identify the buyer.Multiple investors have tried to redesign or convert the 41-story landmark building but failed to complete the project.New York real estate investment trust SL Green Realty Corp bought the building in 2005 from MetLife Inc . It later partnered with RFR Holdings and hotelier Ian Schrager, with the possibility of converting the building into luxury condominiums.When that did not materialize, the building was sold to Africa Israel USA, a unit of Africa Israel Investments , in 2007.Recently a possible deal for a sale to designer Tommy Hilfiger and real estate investment company JSR Capital fell apart, Crain’s reported last month.Completed in 1889, the Clock Tower was one of Manhattan’s earliest skyscrapers. It was originally constructed and occupied by the New York Life Insurance Company, according to the 2005 book “The Landmarks of New York” by Barbaralee Diamonstein-Spielvogel.The deal is expected to close in December.Last spring, Africa Israel sold the top floors of the former headquarters of the New York Times to Blackstone Group LP for $160 million. The company bought the entire building in 2007 for $525 million.

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#NYs #Clock #Tower #Building #to #sell #for #$165 #mln 

UPDATE 1-ON Semiconductor suspends ops at Thailand facility


Oct 11 (Reuters) - Chipmaker ON Semiconductor Corp said operations at one of its facilities in Thailand has been suspended owing to floods, and it could affect revenues for the fourth quarter and 2012.The affected SANYO semiconductor division in the Rojana Industrial Park produces about 5-10 percent of ON Semiconductor’s total worldwide output, the company said.The division operates wafer probe and assembly and test operations.Operations at the company’s facility in Bang Pa In have not been impacted by the flooding, it said.Shares of Phoenix, Arizona-based ON Semiconductor closed at $7.31 on Tuesday on Nasdaq.

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#UPDATE #1ON #Semiconductor #suspends #ops #at #Thailand #facility 

Scotiabank CEO concerned about Basel implementaion


* Wants to take advantage of opportunitiesTORONTO, Oct 17 (Reuters) - Bank of Nova Scotia Chief Executive Rick Waugh says he welcomes tighter bank regulations, but harbors concerns about whether new Basel III rules will be applied evenly.”My major concern is a level playing field,” Waugh said in an investor presentation by the bank in Toronto on Monday. Scotiabank is Canada’s third-largest lender.The new global rules for tighter capital and liquidity restraints have drawn criticism from some CEOs - most famously JP Morgan Chase head Jamie Dimon, who called the rules “anti-American” - but have generally been well received by Canadian banks.”I’m all for supervision, regulation, high capital levels, better liquidity, better funding,” Waugh said.He said the new rules have not forced the bank to alter its business model in any “fundamental” way, but said the uncertainty around how the rules will be implemented globally is troubling.”Are the Americans going to go to Basel III? Are the trading rules that are being implemented, are they going to be executed in the same time frame in the United States and Europe?” he said.The new rules - agreed on by global regulators but to be applied by national bodies - will place restrictions on lending and trading that will likely reduce banks’ profitability.Scotiabank, like Canada’s other lenders, did not require a bailout during the financial crisis, and the bank has continued making acquisitions as struggling institutions in the United States and Europe sell subsidiaries to bolster their capital positions.Waugh suggested that could continue.”We’ve demonstrated we’ve been able to do a reasonable job of coming through this. I want to take advantage in a prudent disciplined way of the opportunities, so I want a level playing field,” he said.Scotiabank’s shares were down 40 Canadian cents, oe 0.8 percent, at C$51.84 on the Toronto Stock Exchange amid a broad-based selloff.

@2 years ago with 443 notes
#Scotiabank #CEO #concerned #about #Basel #implementaion 

GLOBAL MARKETS-Stocks, copper retreat after weak Chinese data


* Copper falls after soft Chinese data* Global stocks slip after six days of gainsBy Rodrigo CamposNEW YORK, Oct 13 (Reuters) - Global stocks and copper prices fell from recent highs on Thursday after weak data from China reinforced concerns about the global economy, while the euro fell on worries over the European debt crisis.The European Central bank warned about the effect of bondholder write-downs, and investor unease on the effectiveness of current measures to prevent the spread of the euro zone debt crisis was evidenced by a rise in the yields on Italian bonds.The ECB was forced back into bond purchases in a jittery Italian bond market.Major stock markets in recent days had jumped sharply on hopes the debt crisis was close to being resolved.Shares of JPMorgan Chase & Co. slumped 5.7 percent to $31.31 after the bank reported a drop in quarterly earnings. JPMorgan was the first major U.S. bank to report its quarterly results.Prices of German Bund and U.S. Treasury debt rose as investors sought relative safety.U.S. and European shares fell from multi-week highs after China reported its trade surplus narrowed for a second straight month in September. Both imports and exports were lower than expected.The data reflected global economic softness, which along with the euro zone debt crisis drove equities and commodities to post heavy losses in the third quarter.On Wall Street, an index of U.S. bank shares slid 4.3 percent.”JPMorgan is a good indicator of what is happening in the banking industry and a little bit of an insight into where consumer banking is headed.” said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.In midday trading in New York, the Dow Jones industrial average was down 101.34 points, or 0.88 percent, at 11,417.51. The S&P 500 was down 12.72 points, or 1.05 percent, at 1,194.53. The Nasdaq Composite was down 5.31 points, or 0.20 percent, at 2,599.42.The S&P 500 has run up more than 10 percent from a 2011 low hit on Oct. 4 and had notched its largest seven-day rally since March 2009 on growing optimism European leaders were making progress in tackling the region’s debt problems.World stocks as measured by MSCI were down 0.7 percent.The soft data from China also pressured copper prices . The industrial metal, often taken as a proxy for economic growth expectations, fell 2.5 percent. China is the world’s largest copper consumer, accounting for nearly 40 percent of global demand.The euro fell broadly, pulling back from a one-month high versus the dollar after the ECB warned about the impact on the currency and the region’s banks of involving bondholders in euro zone bailouts.The single currency hit a New York session low of $1.3683, according to Reuters data. It last traded at $1.3731, down 0.4 percent on the day. The euro on Wednesday touched its highest versus the greenback since Sept. 16.Italy sold 6.2 billion euros of debt, split across four bonds. But yields remained under pressure in the cast bond market, and the European Central Bank stepped into the secondary market after the auction, buying Italian debt to cap rising yields.”Even though the auctions went relatively smoothly, investors still remain reluctant to put money into that country because of doubts about the commitment of fiscal policy and political risk,” said Nick Stamenkovic, strategist at RIA Capital Markets.The Italian 10-year BTP yield was up to 5.822 percent from 5.738 percent late on Wednesday.The benchmark 10-year U.S. Treasury note was up 16/32 point, with the yield at 2.155 percent.

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#GLOBAL #MARKETSStocks #copper #retreat #after #weak #Chinese #data