John Hardy News
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Two senior News Corp. journalists and the bodyguard of Rebekah Brooks, the former head of the company’s U.K. unit, were among six defendants who appeared at a London court for the first time to face bribery, misconduct and obstruction charges.
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A reporter at News Corp.’s Sun newspaper will be charged with paying 23,000 pounds ($35,000) in bribes to a soldier and his wife for stories relating to the British royal family.
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The yen and dollar weakened as Spanish borrowing costs declined at a bond auction and German lawmakers approved the euro area’s bailout of Cyprus, damping demand for safer currencies.
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Foreign-exchange strategists have ceased cutting forecasts for the euro as European government officials intensify efforts to end the region’s crisis and traders pare bets for a collapse in the currency.
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The dollar is likely to extend gains as the U.S. economy outperforms its counterparts, moving the Federal Reserve closer to ending its monetary stimulus, said Stephen Jen, managing partner at SLJ Macro Partners LLP.
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Prices for photovoltaic panels that convert sunlight into electricity may fall about 10 percent next year, less than analysts forecast, as European demand increases.
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The pound had its biggest weekly drop against the dollar since June after Bank of England Governor Mervyn King said inflation will stay above the Bank’s 2 percent target for the next two years even with weak growth.
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First Solar Inc., the world’s largest manufacturer of thin-film solar power modules, said first-quarter profit rose 4.7 percent on stronger demand and increased production.
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Europe’s economy, shrinking under the weight of a three-year debt crisis and rising unemployment, would be better off if its currency behaved more like the Italian lira than the deutsche mark.
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Gilts advanced for a third day after a government report showed the U.K. economy shrank last quarter, boosting demand for the relative safety of Britain’s debt.
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