| Getting comfortable with living on the edge Posted: 13 Jan 2013 11:16 AM PST  LONDON (Reuters) - Just as you learn to put up with a nagging toothache, this week is expected to provide fresh evidence that the U.S. economy is getting used to life on the edge of the fiscal cliff. Of course, putting off that trip to the dentist is not necessarily wise. The longer Washington delays, the more painful it will become to narrow its gaping budget deficit. But surveys of U.S. ...
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| Goldman may delay UK bonuses until top tax rate falls Posted: 13 Jan 2013 03:38 PM PST  NEW YORK (Reuters) - Goldman Sachs Group Inc is considering delaying bonus payments in the U.K. until after April 6, when the top rate of income tax in the country will drop to 45 percent, from 50 percent, a person familiar with the bank's operations said on Sunday. The strategy relates to bonuses that were deferred from 2009, 2010 and 2011, the person said. The Financial Times reported the news earlier today. Goldman recently brought forward payments of deferred stock to executives in the U.S. to 2012, in order to beat tax hikes implemented for top earners in 2013. ...
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| EU draft bank rescue plan says countries must share burden: FT Posted: 13 Jan 2013 02:43 PM PST  LONDON (Reuters) - Struggling euro zone countries seeking future aid from the region's rescue fund to prevent their banks collapsing will have to share the cost burden, according to a draft euro zone proposal seen by the Financial Times. Countries asking for help would have to either invest alongside the European Stability Mechanism (ESM) or guarantee it against any losses, according to the plan, which the newspaper said had been circulated in late 2012 among finance ministry officials. ...
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| JPMorgan weighs actions on internal "Whale" probes: reports Posted: 13 Jan 2013 11:59 AM PST  (Reuters) - JPMorgan Chase & Co may release on Wednesday additional results of internal probes into its $6.2 billion "London Whale" trading loss that could lead to a lower bonus for CEO Jamie Dimon, according to published reports. On Wednesday the bank, the biggest in the United States by assets, is scheduled to report fourth-quarter and full-year results following a meeting of the board of directors on Tuesday. ...
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| Jaguar to add 800 new UK jobs on soaring Chinese demand Posted: 13 Jan 2013 03:06 PM PST  LONDON (Reuters) - Jaguar Land Rover plans to create 800 new jobs at its Solihull factory in central England as demand for its premium cars rockets in China and elsewhere. For the first time, demand from China outstripped that of British carmaker JLR's home market, with sales in China in 2012 rising more than 70 percent to 71,940 cars. JLR, owned by India's Tata Motors , said on Sunday that total global sales rose 30 percent to over 350,000 vehicles. JLR said earlier this month that its outlook for 2013 was positive after UK vehicle sales rose almost 20 percent in 2012. ...
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| JAL's grounded Boeing Dreamliner leaks fuel in tests Posted: 13 Jan 2013 12:05 PM PST  TOKYO/SEATTLE (Reuters) - Japan Airlines Co (JAL) said on Sunday that a Boeing Co 787 Dreamliner jet undergoing checks in Tokyo following a fuel leak at Boston airport last week had leaked fuel during tests earlier in the day. An open valve on the aircraft caused fuel to leak from a nozzle on the left wing used to remove fuel, a company spokeswoman said. The jet is out of service after spilling about 40 gallons (roughly 150 liters) of fuel onto the airport taxiway in Boston due to a separate valve-related problem. ...
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| Avis' buy of tiny Zipcar could be in antitrust fast lane Posted: 13 Jan 2013 12:50 PM PST  WASHINGTON (Reuters) - When car rental giant Avis announced in early January that it planned to buy Zipcar, hipsters across the United States gnashed their teeth in unison. But an informal poll by Reuters of nine antitrust experts, many of whom lamented the deal privately for the feared loss of a lively upstart, found that eight of the nine expect U.S. regulators to approve the deal. The quirky Zipcar is admired for its new approach to car rental. Young, monied professionals who have decided to live car-free and broke college students can join and then rent a car for $11. ...
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| VW CEO says aims to increase sales further in 2013 Posted: 13 Jan 2013 02:40 PM PST  DETROIT (Reuters) - German carmaker Volkswagen aims to increase sales further this year after posting record deliveries last year, Chief Executive Martin Winterkorn said on Sunday. "VW won't cut back, we will stay in the fast lane," Winterkorn said at a news conference at the Detroit auto show. "VW grows with the challenges. We continue to do, even when times are tough," he added. (Reporting by Andreas Cremer; Editing by Dale Hudson)
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| India December inflation seen up slightly; rate cut still expected Posted: 13 Jan 2013 01:08 PM PST  MUMBAI (Reuters) - India's headline inflation is likely to have risen in December by less than the central bank projected, and should reinforce hopes for a cut in interest rates this month to boost an economy that is set to post its slowest growth in a decade. Data to be released later on Monday is expected to show the wholesale price index (WPI), India's main inflation gauge, probably rose an annual 7.4 percent in December, according to a Reuters poll, reversing a declining trend and faster than the 7.24 percent seen in November. ...
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| Google's ultrafast Internet draws startups to KC Posted: 13 Jan 2013 12:45 PM PST  KANSAS CITY, Kan. (AP) — Inside a small bungalow on the street separating Kansas City, Kan., from its sister city in Missouri, a small group of entrepreneurs are working on their ideas for the next high-tech startup, tapping Google Inc.'s new superfast Internet connection that has turned the neighborhood into an unlikely settlement dubbed the "Silicon Prairie."
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| 4 gadgets that defined Vegas electronics show Posted: 13 Jan 2013 08:11 AM PST  LAS VEGAS (AP) — The world's largest gadget show wrapped up on Friday, and the organizers said it was the biggest ever, beating last year's record in terms of the floor space companies purchased to display their wares.
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| A disconnect between violence and television Posted: 13 Jan 2013 02:35 PM PST  PASADENA, Calif. (AP) — If there's any soul-searching among top television executives about onscreen violence contributing to real-life tragedies like the Connecticut school shooting, it isn't readily apparent.
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| 'Zero Dark Thirty' captures No. 1 at box office Posted: 13 Jan 2013 01:18 PM PST  LOS ANGELES (AP) — "Zero Dark Thirty" hunted down the top spot at the box office — and easily won it.
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| More than 130 nations begin mercury treaty talks Posted: 13 Jan 2013 10:07 AM PST GENEVA (AP) — Delegates from more than 130 nations began a final round of negotiations on Sunday that are expected to lead to the creation of the first legally binding international treaty to reduce mercury emissions. |
| Vatican surprised by bank's credit card block Posted: 13 Jan 2013 10:39 AM PST VATICAN CITY (AP) — A senior Vatican official says he is "truly surprised" that the Bank of Italy ordered credit card payments suspended in the tiny city-state and insists the Vatican has taken adequate measures to fight money laundering. |
| Ex-postal workers' union head Sombrotto dies at 89 Posted: 13 Jan 2013 05:28 AM PST  MANHASSET, N.Y. (AP) — Vincent R. Sombrotto, a labor leader who served as president of the National Association of Letter Carriers for 24 years, has died. He was 89.
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| Gas prices surge 7 cents after months of decline Posted: 13 Jan 2013 12:17 PM PST CAMARILLO, Calif. (AP) — After months of dropping, gas prices are back on the upswing. |
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