PRESS DIGEST-Financial Times, Wall St Journal Asia editions
SINGAPORE, May 2 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or Web site editions on Friday. Reuters has not verified these stories and does not vouch for their accuracy.
FINANCIAL TIMES (www.ft.com)
-- India's Tata group is moving to launch a full-service bank should restrictions preventing industrial groups from owning substantial stakes in banks be relaxed, said Ishaat Hussain, finance director at Tata Sons, the group's holding company.
-- South Korea's exports grew at their fastest pace in more than three years in April, as strong demand from emerging markets and a weaker local currency offset the impact of a U.S. economic slowdown.
-- India's Adani Group is planning a $1-$1.5 billion initial public offering of its power unit, making it the first company to test the waters in the country's stock market since the troubled listing of Reliance Power (RPOL.BO). UK-based private equity firm 3i Group (III.L) owns a stake in Adani Power.
WALL STREET JOURNAL (www.wsj.com)
-- Rio Tinto's (RIO.AX) (RIO.L) market value fell nearly 7 percent below that of BHP Billiton's (BHP.AX) (BLT.L) all-stock offer reflecting growing fear that regulators or Rio shareholders will scrap the deal. Rio shares traded at a premium in recent months on hopes BHP would raise its offer to boost the odds of winning those approvals.
-- Nissan Motor Co (7201.T) Chief Executive Carlos Ghosn said the Japanese auto maker will launch electric vehicles in the U.S. and Japan in 2010, and globally by 2012, to take advantage of a move towards environmentally friendly vehicles due to high oil prices, a new awareness of environmental issues and breakthroughs in battery technology.
-- Toyota Motor Co 7303.T Japan's Toyota Motor Corp., thanks to Easter falling in March this year, managed to snap a fourth-month streak of weaker sales and post a 3.4 percent rise. -- As India grows rapidly, the pool of workers with even the most basic skills is running dangerously dry. The shortage of bricklayers, rod benders, welders, wall painters and other skilled and semi-skilled labourers is threatening to slow the construction of projects that are key to the nation's economic growth.
