Sato says BOJ will act if needed, wary of China slowdown

FUKUSHIMA, Japan | Mon Jul 22, 2013 4:52am BST
(Reuters) - The Bank of Japan is prepared to inject more stimulus if the economy's recovery is threatened, board member Takehiro Sato said on Monday as he pointed to risks such as the slowdown in Chinese growth.

He also said the central bank's 2 percent inflation target was a flexible one that does not necessarily have to be achieved rigidly in two years -- a timeframe that had been outlined by BOJ Governor Haruhiko Kuroda.

Apple's developer website attacked, can't rule out stolen data

Mon Jul 22, 2013 6:18am BST
(Reuters) - Apple Inc's main website for developers remains shut after intruders tried to steal sensitive information last week, forcing the iPhone maker to overhaul its database and server software to prevent future breaches.

The intrusion last Thursday marked a rare cyber attack on the U.S. company's network and comes at a time when third-party developers are testing their apps on Apple's iOS 7 - a smartphone and tablet platform to be launched in the fall.

Apple's developer site also houses sensitive financial information, which is encrypted.

Nikkei gains as Abe's big election win boosts economic recovery hopes

Mon Jul 22, 2013 7:11am BST
TOKYO, July 22 (Reuters) - Japan's Nikkei share average
rebounded on Monday after Prime Minister Shinzo Abe's ruling
Liberal Democratic Party won decisively in Sunday's upper house
election, opening the door for Abe to pursue tough reforms
required for a sustained economic recovery.

The benchmark Nikkei rose 0.5 percent to 14,658.04,
after falling as low as 14,514.29 during the session due to
profit-taking amid a lack of clear market-moving factors. The
broader Topix added 0.4 percent to 1,216.53.

FTSE 100 turns slightly lower in cautious early action today

GSK says senior executives appear to have broken Chinese law

LONDON/SHANGHAI | Mon Jul 22, 2013 11:58am BST
(Reuters) - British drugmaker GlaxoSmithKline said on Monday that some of its executives in China appeared to have broken the law in a bribery scandal while proposed changes to the firm's business model would lower the cost of its medicine in the country.

GSK is the latest in a string of multinationals to be targeted by Chinese authorities over alleged corruption, price-fixing and quality controls.

FTSE100 moves lower midday with weakness broad-based

USD Existing Home Sales 5.08M 5.27M 5.14M

FTSE 100 ends low volume session just fractionally lower