ABN AMRO News
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Robusta coffee fell to a one-week low on signs of more supplies from Vietnam, the world’s biggest producer, and Indonesia, the third largest. Sugar also declined.
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Asian stocks rose, with the regional benchmark index advancing for a second week, as Japan’s Nikkei 225 Stock Average closed above 15,000 for the first time since 2007 after the yen touched a 4 1/2-year low against the dollar.
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ABN Amro Group NV, the third-biggest Dutch lender, plans to cut about 400 additional jobs after first-quarter profit tumbled 17 percent.
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(Corrects underlying profit drop in lead) ABN Amro 1Q profit excl. items falls 39%, or EU185m, to EU290m after increase in loan impairments, lower non-interest income, increased pension costs. * Net income EU415m vs EU503m * Impairment charges decrease by EU225m after EU259m release on sale of Greek govt. guaranteed corporate loans, reassessment of remaining Greek holdings * Impairments rose by 39%, or EU72m, to EU259m excl. Greek holdings * Impairment charges on mortgages rose 21bps in 1Q vs 10bps in 1Q 2012 * Cost/income ratio 68%; targets 56%-60% in 2017 * Core Tier 1 ratio at March-end 11.6% vs 12.1% at yr-end * Statement: NSN MMXFMX6LJLDT <GO>
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Euromar Commodities GmbH, the European unit of cocoa processor Transmar Group, delivered some cocoa into the expired May futures contract on NYSE Liffe in London after slowing its factory in Fehrbellin, Germany.
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Sucres et Denrees SA took all of the beans delivered against the expired May futures contract on the NYSE Liffe exchange in London, according to Derek Chambers, head of cocoa at the Paris-based trading company.
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Malaysia’s biggest pension fund sold about 331 million ringgit ($110 million) of shares in the country’s benchmark index as Prime Minister Najib Razak’s election victory sparked the largest rally since 2008.
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The Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, named John McCarthy as its global head of infrastructure.
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Royal KPN NV, the Dutch phone operator partly owned by Carlos Slim’s America Movil SAB, raised about 2.92 billion euros ($3.78 billion) in a share sale as investors took up 97.4 percent of the offered rights.
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Asian stocks rose, with the regional benchmark index heading for a second day of gains, as advancing Japanese utilities countered a slide in Chinese stocks.
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