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| Asian shares steady, U.S. budget concerns weigh Sunday, Dec 23, 2012 06:53 PM PST  TOKYO (Reuters) - Asian shares steadied in quiet pre-holiday trade after a slump late last week, but markets have become more jittery about the risk of the United States failing to avert a fiscal crisis. Activity in other assets was also subdued, with spot gold steadying as investors took to the sidelines, while oil extended losses, with U.S. crude inching down 0.2 percent to remain below $89 a barrel while Brent futures also eased 0.2 percent to $108.78. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0. ... Full Story | Top |
| UK household finances worsen sharply in December - Markit Sunday, Dec 23, 2012 06:16 PM PST  LONDON (Reuters) - Britons suffered the biggest deterioration in their finances in seven months in December and turned more downbeat about 2013, a survey showed on Monday. The Markit Household Finance Index fell to 36.8 - the lowest since May - from November's near two-year high of 39.3, sinking further below the 50 level that would mark no change in the financial situation compared with a month ago. Around a third of respondents said their finances had worsened in December, while only 6 percent reported an improvement. Overall, households also felt less secure in their jobs than in November. ... Full Story | Top |
| China starts background checks on IPO applicants - paper Sunday, Dec 23, 2012 06:05 PM PST SHANGHAI (Reuters) - China has started to run checks on the more than 800 companies that have applied for domestic share sales, the latest move aimed at shortening the IPO waiting list and ease pressure on the stock market, the official China Securities Journal said. The move comes days after China lowered the barriers to overseas listings, and launched a pilot scheme allowing some brokerages to trade over-the-counter in unlisted shares, an effort to broaden Chinese companies' financing channels. ... Full Story | Top |
| Fear, finger-pointing mount over "fiscal cliff" Sunday, Dec 23, 2012 02:33 PM PST  WASHINGTON (Reuters) - Some lawmakers voiced concern on Sunday that the country would go over "the fiscal cliff" in nine days, triggering harsh spending cuts and tax hikes, and some Republicans charged that was President Barack Obama's goal. "It's the first time that I feel it's more likely that we will go over the cliff than not," Senator Joe Lieberman, an independent from Connecticut, said on CNN's "State of the Union." "If we allow that to happen it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in American history. ... Full Story | Top |
| Tata goes back to drawing board at stalled Indian car unit Sunday, Dec 23, 2012 01:27 PM PST  PIMPRI, India (Reuters) - Deep in Tata Motors' largest factory, engineers don 3D glasses to play with car designs and prototypes projected from a 10-metre wide computer screen. Their quest? The Indian automaker's next blockbuster car model. The research and development team's task is a pressing one. As they work, sections of conveyor belt and welding stations lay silent at the Pimpri factory and lines of white and silver Indica hatchbacks gather dust along service roads outside. ... Full Story | Top |
| Insight: Security fears dogged Canada debate on China energy bid Sunday, Dec 23, 2012 01:21 PM PST  OTTAWA (Reuters) - In September, two months after China's state-owned CNOOC Ltd made an unexpected $15.1 billion bid for Canadian energy company Nexen Inc, Canada's spy agency told ministers that takeovers by Chinese companies may threaten national security. The rare warning from the Canadian Security Intelligence Service (CSIS), which was disclosed to Reuters by intelligence sources, did not stop the takeover. That was approved by Canadian authorities earlier this month. But the intervention and an influential U.S. ... Full Story | Top |
| Egypt supermarkets seen target for Dubai investor MAF Sunday, Dec 23, 2012 09:16 AM PST  DUBAI (Reuters) - Dubai's Majid Al Futtaim (MAF), is in talks with Egypt's Mansour Group, owned by billionaire Mohammed Mansour, to buy its supermarket business in a deal valued at $200 million to $300 million, three sources aware of the discussions said. Mansour Group, also the largest distributor of General Motors cars in Egypt, is aiming to sell supermarket chain Metro and discount grocery store Kheir Zaman, the sources said, speaking on condition of anonymity as the matter is not public. ... Full Story | Top |
| France checks ministers' taxes after Swiss bank report Sunday, Dec 23, 2012 07:44 AM PST PARIS (Reuters) - French tax authorities said they were carrying out a "routine" examination of government members' personal finances and denied a report that Budget Minister Jerome Cahuzac was being singled out for a specific probe. The statement was issued through Cahuzac's ministry amid weekend media reports that President Francois Hollande could be considering a government reshuffle, seven months after his May election victory against Nicolas Sarkozy. ... Full Story | Top |
| Great-West Life close to buying state-rescued insurer Irish Life: source Sunday, Dec 23, 2012 04:14 AM PST DUBLIN (Reuters) - Canada Life, a unit of Canadian life insurer Great-West Lifeco , is close to a deal for state-rescued insurer Irish Life, a source familiar with the negotiations said on Sunday. "It's at an advanced stage," the source said, requesting anonymity because he is not authorized to speak about the talks. A spokesman for Irish Life declined to comment. Irish Life, formerly the life insurance arm of bailed out Irish Life & Permanent, was taken over by the state after a planned sale of the unit was suspended last year. ... Full Story | Top |
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