CA-BUSINESS Summary

Asian shares fall on caution before U.S. jobs data

TOKYO (Reuters) - Asian shares fell on Wednesday as investors waited for news on the U.S. economy, while the dollar recovered against the yen as the Bank of Japan's two-day policy meeting got underway. The Standard & Poor's 500 Index <.spx> neared its all-time high the previous session and helped support Asian stocks earlier, but gains were trimmed as investors shifted focus to factors specific to each country while waiting for key events.

Apartment vacancy rate falls to lowest level since 2001

NEW YORK (Reuters) - The U.S. apartment vacancy rate fell to its lowest level in more than a decade, but persistent stagnant income growth for U.S. workers has tempered the ability of landlords to raise rents, according to an industry report released on Wednesday. The national apartment vacancy rate fell 0.2 percentage points to 4.3 percent in the first quarter, the lowest since the fourth quarter 2001, according to a preliminary report by real estate research firm Reis Inc. Rents, on the other hand, grew by 0.5 percent, the smallest increase since the fourth quarter of 2011.

TSX drops as investors turn their backs on golds

TORONTO (Reuters) - Canada's main stock index fell on Tuesday with gold-mining stocks taking a beating as the price of bullion tumbled and investors gravitated towards riskier assets following U.S. and European economic data. A 4 percent decline in the gold-mining group, which is down about 20 percent since the start of the year, more than offset gains in sectors such as financials and energy.

Canadian auto sales dip in March, but close to record

TORONTO (Reuters) - Canadian auto sales ticked down a modest 0.7 percent in March, declining for the fourth straight month, but industry data released on Tuesday showed new vehicle sales came close to matching record-setting numbers from last year. Buoyed by strong demand for its pick-up trucks, Ford Canada was top seller for the month with a 1.6 percent sales increase, while Chrysler took second spot with a 6.5 percent jump. General Motors sales tumbled nearly 11 percent.

Analysis: Spills flame Canadian oil debate, but won't curb flows to U.S

CALGARY, Alberta (Reuters) - Two high-profile oil spills won't stem the now-record flow of Canadian oil into the United States, despite the frenzy that the spills triggered among friends and foes of the Keystone XL pipeline to the main U.S. refineries. The fate of Keystone remains undecided, yet Canadian crude will become an increasing part of the U.S. energy mix, despite growing competition from new U.S. production.

Verizon denies intention to merge with or buy Vodafone

(Reuters) - Verizon Communications Inc said it does not "currently have any intention" to merge with or buy its partner Vodafone Group Plc , either alone or in conjunction with others, in response to press reports. However, the telephone company said on Tuesday that it would still be a willing buyer of Vodafone's 45 percent share of their Verizon Wireless U.S. venture, in line with public statements Verizon has made many times over the years.

Credit Suisse says NY mortgage case too little, too late

NEW YORK (Reuters) - Credit Suisse Group AG asked a court to dismiss a lawsuit by New York Attorney General Eric Schneiderman that accuses the Swiss bank of deceiving investors in mortgage-backed securities that resulted in $11.2 billion of losses. In a Monday filing in the New York State Supreme Court in Manhattan, Credit Suisse said the attorney general waited too long, was precluded by federal law, and was not specific enough in detailing the alleged wrongdoing to allow the case to go forward.

China March services PMIs hit multi-month highs

BEIJING (Reuters) - Growth in China's services sectors rose to multi-month highs in March as a construction boom and firmer demand lifted business and confidence, auguring well for a modest recovery in the world's second largest economy. The official purchasing managers' index (PMI) for the non-manufacturing sector climbed to 55.6 in March from February's 54.5, aided by a buoyant construction sector. A PMI reading above 50 indicates accelerating activity.

TransCanada moves forward on West-East oil pipeline plan

CALGARY, Alberta (Reuters) - TransCanada Corp on Tuesday pushed ahead with plans to take Western Canadian crude to eastern refineries and Canada's busiest oil port as it seeks new markets beyond those it wanted for its stalled Keystone XL pipeline project. TransCanada said it will give shippers two months to sign contracts to use its proposed 4,400 kilometer (2,700 mile) Energy East Pipeline project, Canada's longest oil pipeline, which could take as much as 850,000 barrels per day to Montreal, Quebec City and Saint John, New Brunswick.

Cyprus finance minister quits after bailout concludes, investigation begins

NICOSIA (Reuters) - Cyprus's finance minister resigned on Tuesday after concluding a 10 billion euro bailout deal with international lenders in which the country slashed its dominant banking sector and hit depositors with losses. Michael Sarris, a lead player in talks with International Monetary Fund and European Union lenders, said he had completed his task but also that he was likely to come under scrutiny in an investigation into the crisis.

Source: http://news.yahoo.com/ca-business-summary-015435054--finance.html

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