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| Hyundai Heavy Ind. Group wins orders worth $1.05 billion Saturday, Dec 22, 2012 06:07 PM PST SEOUL (Reuters) - Hyundai Heavy Industries announced on Sunday that the company and its affiliated shipyard have obtained orders totaling $1.05 billion to build five liquefied natural gas (LNG) carriers. Hyundai Heavy said in a statement it had won an order for one 155,000-cubic-metre LNG carrier worth $210 million from Brunei Gas on Friday. The company's affiliated shipyard, Hyundai Samho Heavy Industries, also won a contract for four 174,000-cubic-metre LNG carriers valued at $840 million from Greece's Maran Gas on Thursday. ... Full Story | Top |
| Japan's Abe heaps pressure on BOJ to set 2 percent inflation target Saturday, Dec 22, 2012 05:35 PM PST  TOKYO (Reuters) - Japan's next premier, Shinzo Abe, renewed pressure on the central bank to adopt a 2 percent inflation target, saying that he will try to revise a law guaranteeing its independence if his demand is not met. He also said he will pick someone who agrees with his views on the need for bolder monetary easing to succeed BOJ Governor Masaaki Shirakawa when his term expires in April next year. "At this month's policy meeting, the BOJ said it would examine (setting an inflation target) at its next meeting" in January, Abe said on television on Sunday. ... Full Story | Top |
| Modest discounts, fiscal cliff deter last-minute shoppers Saturday, Dec 22, 2012 01:30 PM PST  NEW YORK/WESTBURY, New York (Reuters) - Retailers may not see a sales surge this weekend as ho-hum discounts and fears about imminent tax hikes and cuts in government spending give Americans fewer reasons to open their wallets in the last few days before Christmas. The acrimonious debate in Washington over how to avoid the so-called "fiscal cliff" is one of a number of concerns weighing on shoppers, experts said, as consumers head to malls on the last Saturday ahead of the holiday - typically one of the busiest shopping days of the year. ... Full Story | Top |
| MF Global trustee announces settlement deals key to cash payouts Saturday, Dec 22, 2012 12:27 PM PST (Reuters) - The trustee for the failed MF Global Inc on Saturday announced two key agreements that are expected to accelerate cash payouts to clients and creditors of the failed futures brokerage. James Giddens, trustee for the MF Global estate, said in a statement he has negotiated deals to resolve disputes with the company's former British affiliate and the parent company, MF Global Holdings Ltd. As a result of the UK agreement, Giddens estimated between$500 million and $600 million could be returned to the MF Global estate if the deal is finalized. ... Full Story | Top |
| EU to give Spain, France more time to cut deficit: press Saturday, Dec 22, 2012 09:57 AM PST MADRID (Reuters) - The European Commission will propose giving Spain, France and several other euro zone states more time to cut their public deficits below the target limit of 3 percent of GDP, newspaper El Pais said on Saturday. Citing senior Spanish and European Union sources, the Madrid-based daily said France could get an extra year, allowing it to narrow its fiscal gap by 2014, while Spain would be given one or two more years beyond that date. France said on Saturday that it would maintain its deficit-reduction goal for 2013 regardless of any softer line from Brussels. ... Full Story | Top |
| Obama tries to rescue fiscal talks for post-Christmas deal Saturday, Dec 22, 2012 09:45 AM PST  WASHINGTON (Reuters) - The White House on Friday tried to rescue stalled talks on a fiscal crisis after a Republican plan imploded in Congress, but there was little headway as lawmakers and President Barack Obama abandoned Washington for Christmas. In remarks before flying to Hawaii for a break, Obama suggested reaching a short-term deal on taxes and extending unemployment insurance to avoid the worst effects of the "fiscal cliff" on ordinary Americans at the start of the New Year. "We've only got 10 days to do it. So I hope that every member of Congress is thinking about that. ... Full Story | Top |
| Belgium may hand Arnault tax file to Paris: press Saturday, Dec 22, 2012 07:11 AM PST PARIS (Reuters) - Belgian tax authorities may hand French tycoon Bernard Arnault's file to their Paris counterparts for closer scrutiny of Brussels-based companies linked to his LVMH luxury empire, according to media reports. John Crombez, Belgium's minister for fraud prevention, said any information on local "mailbox companies" held by France's richest man should be shared with Paris, newspaper De Tijd reported on Saturday. Belgian legal and government officials did not immediately return calls seeking comment. ... Full Story | Top |
| Violent strike halts work at Sierra Leone Koidu diamond mine Saturday, Dec 22, 2012 12:39 AM PST FREETOWN (Reuters) - Work at Sierra Leone's Koidu diamond mine, operated by Israeli billionaire Beny Steinmetz's Octea group, has been suspended indefinitely following a violent strike that resulted in at least two deaths, a company spokesman said on Friday. Koidu, owned by Steinmetz's BSG Resources through Octea, which is looking at a possible listing, sells diamonds worldwide to jewellers such as Tiffany & Co. "Work at the Koidu mine has not resumed yet, and a back-to-work-date has not been set yet," the spokesman said, requesting not to be named. ... Full Story | Top |
| Guinea clears China Power Investment $6 bln alumina project Saturday, Dec 22, 2012 12:38 AM PST  CONAKRY (Reuters) - The government of Guinea on Friday cleared a project by state-owned China Power Investment Corp to invest nearly $6 billion in an alumina refinery in Boffa, some 120 km (75 miles) west of the capital, a statement from the government said. The project for the 4 million tonne per year refinery, which also includes a deep water port and a power plant in the mineral-rich west African state, was given the green light during a cabinet meeting on Friday. ... Full Story | Top |
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