CA-BUSINESS Summary

TSX opens lower as resources, U.S. data drag

TORONTO (Reuters) - Canada's main stock index fell at the open on Friday, led by resources stocks and disappointment over U.S. economic growth during the first quarter, which missed forecasts. The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> was down 38.99 points, or 0.3 percent, at 12,290.52. Six of the index's 10 main sectors were in negative territory.

Chevron first-quarter profit down on weaker oil prices

(Reuters) - Weaker oil prices ate into Chevron Corp's first-quarter profits, while the second-largest U.S. oil company also took a hit from downtime at two of its three biggest U.S. refineries. First-quarter net income fell 4.5 percent to $6.18 billion, or $3.18 per share, from $6.47 billion, or $3.27 per share, a year earlier. Analysts had expected $3.08 per share, according to the average on Thomson Reuters I/B/E/S, and shares of Chevron rose by 0.4 percent in premarket trading.

Consumer sentiment wanes in April

NEW YORK (Reuters) - Consumer sentiment eased in April as Americans remained concerned about their employment and financial prospects, a survey released on Friday showed. The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment fell to 76.4 from 78.6 in March, although it topped economists' expectations for 73.2.

Euro zone sees light at end of tunnel, pitfalls remain

BRUSSELS (Reuters) - There are no calls for celebration, no desire to relax in the corridors of Brussels but some officials believe the euro zone has turned a corner, sharpening the focus on longer-term reforms and structures. Despite a messy bailout of Cyprus, markets are calm, Ireland's rescue program is on track and Greece and Portugal, while still in recession, hope for a slow recovery next year.

TransCanada expects Keystone XL to be in service in H2 of 2015

(Reuters) - TransCanada Corp , Canada's No.2 pipeline company said it now expects its Keystone XL pipeline to be in service in the second half of 2015 as it awaits U.S. presidential approval. The company, which reported a 27 percent rise in first-quarter profit on Friday, said the delay could increase the cost of the $5.3 billion pipeline designed to deliver mostly Canadian and some U.S. crude oil to refiners in Texas and Louisiana.

Japan's ANA to test fly Boeing 787 Dreamliner on Sunday

TOKYO (Reuters) - Japan's All Nippon Airways will conduct a test flight of Boeing Co's 787 Dreamliner on Sunday, as it prepares to bring back passengers on a plane that was grounded across the world following incidents of batteries overheating. The test flight by ANA, the Dreamliner's top customer, comes after U.S. and Japanese authorities gave approval for flights to resume and will be the first of some 230 flights the airline has planned before allowing the jet to carry passengers.

BOJ in credibility test as divisions emerge over inflation target

TOKYO (Reuters) - Bank of Japan policymakers are divided over whether the central bank can meet its inflation target in two years, underlining concerns it has set an unrealistic goal in its battle to end 15 years of deflation despite plans for a massive burst of monetary stimulus. The central bank held off on offering any fresh policy initiatives following the April 4 policy meeting, when new Governor Haruhiko Kuroda stunned markets by promising to inject about $1.4 trillion into the economy to hit the 2 percent inflation target in roughly two years.

Microsoft gets upper hand in first Google patent trial

SEATTLE (Reuters) - Microsoft Corp came out on top in the first of two patent trials versus Google Inc's Motorola Mobility unit on Thursday, as a federal judge in Seattle ruled largely in its favor. U.S. District Judge James Robart in Seattle said Microsoft owed only a fraction of the royalties Motorola had claimed for use of its technology in Microsoft's Xbox console.

Samsung Electronics profit jumps ahead of Galaxy S4 debut

SEOUL (Reuters) - Samsung Electronics Co Ltd reported on Friday its sixth straight quarter of profit growth ahead of the debut of its latest Galaxy smartphone, the South Korean IT giant's biggest assault on rival Apple Inc yet. By launching the Galaxy S4 in the United States on Saturday, Samsung is taking aim at Apple's home market at a time when the iPhone maker appears to have hit a snag. Earlier this week, Apple reported its first profit decline in more than a decade and indicated no major product releases until the fall.

Credit Suisse shareholders back pay plan

ZURICH (Reuters) - Credit Suisse investors backed a plan to issue new shares to pay staff bonuses after more than two hours of criticism from individual shareholders angered by high pay for executives at the bank. Just over 75 percent of votes were cast in favor of the plan at an investor meeting on Friday, despite a recommendation to reject it from shareholder advisory group ISS.

Source: http://news.yahoo.com/ca-business-summary-004019720--finance.html

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