Dutch Philips beats Q1 profit forecast, sales slow

(Reuters) - Philips's earnings before interest and taxes came in at 292 million euros compared with an average forecast of 267 million euros by 15 analysts polled by Reuters. EBIT in the year-earlier period was 335 million euros.

Revenues fell more than expected to 5.99 billion euros from 7.37 billion euros a year earlier, and compared with an average analyst forecast of 6.14 billion euros.


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Platinum Rises Near Five-Month High on ETF Plan; Tokyo Futures at Record

(Bloomberg) -- Platinum prices rose for a second day to their highest in almost five months in Asia on speculation demand will exceed supply after the introduction of an exchange- traded fund. Platinum futures in Tokyo reached a record high.

Zuercher Kantonalbank, the biggest of Switzerland's 24 government-controlled cantonal lenders, will introduce exchange- traded funds (ETFs) for three precious metals, including platinum, the bank said in a statement on April 13.


Read more at Bloomberg Commodities News

FDA grants GPC's satraplatin NDA priority review

(Reuters) - "With the designation of priority review, we expect an action on the application from the FDA in August of this year and are thus moving forward with commercialisation plans for satraplatin," GPC said in a statement.




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PRESS DIGEST - Wall Street Journal - April 16

(Reuters) - * Google Inc. plans to begin selling advertising on more than 675 radio stations owned by Clear Channel Communications Inc. , in a move designed to add scale to the Internet giant's offline ad-brokering efforts and boost Clear Channel's revenue.

* Many of the biggest and most profitable technology companies, including Yahoo Inc. and Google Inc., are paying little or no corporate income tax, according to an analysis of recently filed annual reports.


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Korean Won Rises to Three-Month High; Government Bonds Drop as Stocks Gain

(Bloomberg) -- South Korea's won rose to the strongest in more than three months as overseas investors bought the nation's equities. Government bonds fell.

South Korea's currency has advanced 1.7 percent against the dollar in the past month as stock purchases by investors abroad helped drive the benchmark equity index to a record today. The won on April 13 broke through 930, near a level where its appreciation had stalled four times since Jan. 3, helping to accelerate gains.


Read more at Bloomberg Bonds News

U.K. Inflation Rate Probably Held at Second-Highest in a Decade in March

(Bloomberg) -- U.K. inflation probably held at the second-highest rate in a decade in March, adding to the case for an interest-rate increase as soon as next month, a survey of economists shows.

Consumer prices may have risen 2.8 percent from a year earlier, the same pace as in February, according to the median of 33 forecasts in a Bloomberg survey. In December, inflation reached 3 percent, the highest since 1997. Other government reports this week may show retail sales rose and unemployment fell in March, separate surveys show.


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Treasury Yield Curve May Turn Positive; Gross, Lundgren Pick 2s Over 10s

(Bloomberg) -- Bond investors are starting to bet the Treasury market is returning to normal.

Yields on two-year notes will fall below 10-year Treasuries and stay there for the first time since August, say investors from Pacific Investment Management Co.'s Bill Gross to Colin Lundgren at RiverSource Institutional Advisors. During the past decade, the so-called yield curve has been inverted only 20 percent of the time, according to data compiled by Bloomberg.


Read more at Bloomberg Bonds News