| Euro zone surveys to offer hope as Japan eases Posted: 20 Jan 2013 12:07 PM PST  LONDON (Reuters) - The prospect of stronger European manufacturing surveys and decisive monetary easing in Japan this week ought to bolster confidence that the global economy can look forward to better days. It is definitely not yet time to break open the champagne. The index derived from polls of purchasing managers across the euro zone, though recovering, is likely to remain well below the 50 threshold that signals expansion. ...
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| Dreamliner probe widens after excess battery voltage ruled out Posted: 20 Jan 2013 02:57 PM PST  WASHINGTON (Reuters) - U.S. safety inspectors on Sunday ruled out excess voltage as the cause of a battery fire last month on a Boeing Co 787 Dreamliner jet operated by Japan Airlines Co (JAL) and widened its efforts to include the battery's charger and the jet's auxiliary power unit. Last week, governments across the world grounded the Dreamliner while Boeing halted deliveries after a problem with a lithium-ion battery on a second 787 plane, flown by All Nippon Airways Co (ANA), forced the aircraft to make an emergency landing in western Japan. ...
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| France lifts doubt over Dutchman as new Eurogroup head Posted: 20 Jan 2013 03:06 PM PST  PARIS (Reuters) - French Finance Minister Pierre Moscovici said on Sunday that he expected Dutch counterpart Jeroen Dijsselbloem to be appointed Eurogroup chief, suggesting Paris had bowed to the inevitable despite reservations about him. Just last week, Moscovici told a German newspaper he needed to know more about the Dutchman's agenda and suggested that the appointment might not be made before February at the earliest. He acknowledged for the first time on Sunday however that the Dutchman was set to be selected on Monday, when euro zone finance ministers meet in Brussels. ...
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| Analysis: China upturn underscores need to rebalance economy Posted: 20 Jan 2013 01:28 PM PST  BEIJING (Reuters) - China's recovery from its longest slowdown in growth since the global financial crisis is being driven by the two forces posing the biggest risks to the economy's increasingly urgent need to rebalance - investment and property. The central government wants to raise consumption's share in the economy as the cornerstone effort to close one of the world's widest gaps between rich and poor and quell the discontent among those Chinese who feel they missed out on the country's blistering expansion of the past three decades. ...
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| Nokia Siemens Networks to tap markets for 700 million euros: FT Posted: 20 Jan 2013 02:19 PM PST  LONDON (Reuters) - Nokia Siemens Networks (NSN) is planning to raise as much as 700 million euros ($930 million) from public markets in the spring to pay down debt and fund investment, the Financial Times said on its website on Sunday, citing people familiar with the plan. The high-yield bond will be the first time the Nokia and Siemens joint venture has tapped public markets, the FT said, and it will test investor appetite in the telecoms equipment maker ahead of a possible listing. ...
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| Franco-German motor sputters in crucial euro year Posted: 20 Jan 2013 08:43 AM PST BERLIN/PARIS (Reuters) - Germany and France will put on a show of total unity this week to mark the 50th anniversary of the Elysee Treaty that cemented their post-war reconciliation. But beneath the public display of friendship, the Franco-German motor that has long driven Europe is sputtering and unlikely to offer new policy breakthroughs this year to help speed the euro zone fully out of its crisis. French President Francois Hollande will travel to Berlin for a joint cabinet meeting and session of parliament due on Tuesday. ... |
| Canadian companies feel the world's pain Posted: 20 Jan 2013 07:55 AM PST  TORONTO (Reuters) - Financial results from Canada's biggest companies are likely to disappoint investors in the coming weeks with weak global growth and mixed commodity prices expected to have pummeled the quarterly earnings of oil companies and miners. Energy and materials shares make up about half of the value of the Toronto Stock Exchange's benchmark S&P/TSX composite index and include such blue chips as Suncor Energy Inc, Teck Resources Ltd and Goldcorp Inc. All three companies are expected to post year-on-year drops in fourth-quarter earnings per share when they report in February. ...
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| Santander eyes £2 billion bid for NAB UK assets: paper Posted: 20 Jan 2013 06:18 AM PST  LONDON (Reuters) - Santander is considering making a 2 billion pound ($3.2 billion) bid for National Australia Bank's UK business to accelerate its British expansion, the Sunday Times reported citing unnamed sources. The British newspaper said executives in London and Madrid have been looking at a deal since the collapse of talks to buy a network of 316 branches from Royal Bank of Scotland last October. Santander declined to comment on the report. A spokesman for its British business said the bank was expanding organically. ...
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| Weidmann says ECB is not the only crisis manager: paper Posted: 20 Jan 2013 02:26 AM PST  (Reuters) - Bundesbank chief Jens Weidmann warned against relying on the European Central Bank as the only crisis manager, telling a Finnish newspaper that its bond buyback program me was risky. "Central banks in recent years have been pulled into the role of a crisis manager. Some think that central banks are the only able ones. I consider this thinking wrong and dangerous," Weidmann, also ECB Governing Council member, told Helsingin Sanomat in an interview. His comments were published in Finnish on the newspaper's website on Sunday. ...
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| NTSB: Plane battery that burned not overcharged Posted: 20 Jan 2013 12:38 PM PST WASHINGTON (AP) — The battery that caught fire in a Japan Airlines Boeing 787 in Boston earlier this month was not overcharged, but government investigators said there could still be problems with wiring or other charging components. |
| Flu season fuels debate over paid sick time laws Posted: 20 Jan 2013 11:54 AM PST  NEW YORK (AP) — Sniffling, groggy and afraid she had caught the flu, Diana Zavala dragged herself in to work anyway for a day she felt she couldn't afford to miss.
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| Hostess union hires investment bank Posted: 20 Jan 2013 03:45 PM PST NEW YORK (AP) — The pension fund for some of Hostess Brands' workers hired an investment bank to represent workers and pensioners as the Twinkie maker sells off its brands. |
| Indicted Megaupload founder launches new site Posted: 20 Jan 2013 02:15 AM PST  SYDNEY (AP) — Indicted Megaupload founder Kim Dotcom launched a new file-sharing website on Sunday, promising users amped-up privacy levels in a defiant move against the U.S. prosecutors who accuse him of facilitating massive online piracy.
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| Chastain films take top 2 spots at box office Posted: 20 Jan 2013 01:03 PM PST NEW YORK (AP) — Jessica Chastain easily outmuscled Arnold Schwarzenegger and Mark Wahlberg over the weekend, topping the box office with both her supernatural horror film "Mama" and the Oscar-nominated Osama bin Laden hunt thriller "Zero Dark Thirty." |
| Growth slows, markets feeling good ahead of Davos Posted: 20 Jan 2013 04:13 AM PST  FRANKFURT, Germany (AP) — The world's financial and political elite will head this week to the Alps for 2013's gathering of the World Economic Forum in Davos, Switzerland, with the global economy far less plagued by fear than it was last year.
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| Merkel's coalition loses German state vote Posted: 20 Jan 2013 03:48 PM PST  BERLIN (AP) — Germany's center-left opposition won a wafer-thin victory over Chancellor Angela Merkel's coalition in a major state election Sunday, dealing a setback as she seeks a third term at the helm of Europe's biggest economy later this year.
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| Death toll climbs past 80 in siege in the Sahara Posted: 20 Jan 2013 02:48 PM PST  ALGIERS, Algeria (AP) — The death toll from the terrorist siege at a natural gas plant in the Sahara climbed past 80 on Sunday as Algerian forces searching the refinery for explosives found dozens more bodies, many so badly disfigured it was unclear whether they were hostages or militants, a security official said.
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