Asian Morning Briefing: U.S. Stocks Rally -2-

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Amazon.com unveiled its long-awaited smartphone, thrusting it into the highly competitive handset market. The Fire Phone boasts a 4.7-inch screen, a 13 megapixel camera and earphones that resist tangling.

GM Rejected Worker's Warning on Impala Switch

A General Motors employee warned in 2005 that the auto maker had a "serious safety problem" with the ignition switches used on the 2006 Impala, but the company didn't recall the vehicles until early this week.

FedEx Earnings Rise; Ambitious Targets Set

FedEx Corp. posted impressive 4Q earnings of $730 million, or $2.46 a share, and set ambitious targets for the new year despite major challenges at its express business caused by lackluster global trade.

Valeant Launches Tender Offer for Allergan

Valeant Pharmaceuticals launched its tender offer for Allergan, taking its roughly $53 billion bid for the Botox maker directly to shareholders after being rebuffed repeatedly by Allergan's board.

GE CEO to Meet French Minister on Alstom Deal

GM CEO Jeffrey Immelt is set to meet Economy Minister Arnaud Montebourg in Paris on Thursday, the third time since GE launched its $17 billion bid for the French engineering firm's business.

Apple Unveils Lower-Priced Entry-Level iMac

Apple introduced a new entry-level model of its iMac computer that drops the starting price for the all-in-one desktop line by $200 but comes with a slower processor and less hard-drive space.

IRS Issues New Rules for Offshore Accounts

The IRS is making it easier for U.S. taxpayers who inadvertently failed to comply with laws on reporting income or assets abroad to avoid penalties. But it is also sharply raising the potential fines on tax cheats who don't come forward.

     RECENT DJ DOMINANTS:
     BlackRock, Pimco Funds Sue Deutsche Bank, U.S. Bank Over Trustee Roles
     Health-Care Software Maker PointClickCare Weighing IPO
     OPEC May Bring Forward Next Meeting if Iraq Crisis Disrupts Exports
     HSBC Signs Deal to Provide First UKEF-backed Loan in Renminbi
     S Africa's Finance Minister Sees Strikes Weighing on Growth
     TODAY'S CALENDAR:
     (Times in GMT, followed by country and event)
     2100  SKA  May PPI
     2245  NZ  Q1 GDP
     0130  AUS  May Foreign Exchange Transactions and Holdings of Official Reserve Assets
     0130  AUS  Jun RBA Bulletin
     0430  JPN  Apr All Industry Index
     0500  JPN  May Steel Production
     0500  JPN  Apr Indexes of Business Conditions - Revision
     0500  JPN  Apr Indexes of Business Conditions - Revision
     0800  PHI  Philippine Monetary Policy meeting & decision
     0830  HK  Apr External Merchandise Trade: Volume & Price Statistics
     0830  UK  May UK monthly retail sales figures
     0830  UK  May CML mortgage lending figures
     0830  UK  May Capital issuance
     1000  UK  Jun CBI Monthly Industrial Trends Survey
     1230  US  U.S. Weekly Export Sales
     1230  US  06/14 Unemployment Insurance Weekly Claims Report - Initial Claims
     1230  CAN  Apr Employment Insurance
     1300  EU  Eurogroup Meeting of eurozone finance ministers
     1345  US  Bloomberg Consumer Comfort Index
     1400  US  May Leading Indicators
     1400  US  Jun Philadelphia Fed Business Outlook Survey
     1400  US  06/07 DJ-BTMU U.S. Business Barometer
     1430  US  06/13 EIA Weekly Natural Gas Storage Report
     2030  US  Foreign Central Bank Holdings
     2030  US  Money Stock Measures
     2030  US  Federal Discount Window Borrowings


  (END) Dow Jones Newswires
  06-18-141746ET
  Copyright (c) 2014 Dow Jones & Company, Inc.


This article appears in: Energy

Referenced Stocks: AGN

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