Daily News: Reuters Business News Headlines - Yen falls as Japan forms new government, supporting Nikkei

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Tuesday, Dec 25, 2012 07:42 PM PST
Today's Reuters Business News Headlines - Yahoo! News: Yen falls as Japan forms new government, supporting Nikkei Daiwa CEO sees 2013 Nikkei rally on Abe economy boost Samsung Elec seeks U.S. sales ban on some Ericsson products Jaguar Land Rover's China unit to recall cars over safety worries Hitachi CEO: Still in talks on Lithuania nuclear project Japan's incoming PM keeps up pressure on BOJ to attack deflation Sony says China business has recovered, foresees growth Yen on defensive on U.S. fiscal worry, helps Nikkei

Yen falls as Japan forms new government, supporting Nikkei  Tuesday, Dec 25, 2012 07:42 PM PST TOKYO (Reuters) - The yen fell to a 20-month low against the dollar on Wednesday, buoying the benchmark Nikkei stock average, as Japan ushers in a new prime minister eager to pursue drastic stimulus steps to drive the country's economy out of deflation. Asian shares and other assets were capped in thin holiday trade, with investors focusing on the fate of U.S. negotiations to avert a budget crunch looming at the end of the year. Markets in Singapore , Malaysia , Indonesia , the Philippines and South Korea were closed on Tuesday for the Christmas holiday, reopening on Wednesday. ... Full Story	Top
Daiwa CEO sees 2013 Nikkei rally on Abe economy boost  Tuesday, Dec 25, 2012 07:13 PM PST TOKYO (Reuters) - Japan's Nikkei stock average could rally nearly 30 percent in 2013 due to an aggressive push to reflate the economy under the country's new premier, the chief executive of Daiwa Securities Group told Reuters in an interview. While securities executives are known for their bullish market predictions, the comments from Takashi Hibino reflect an optimism among business leaders that the policies of Shinzo Abe will give Japan's sluggish economy a needed jolt. ... Full Story	Top
Samsung Elec seeks U.S. sales ban on some Ericsson products  Tuesday, Dec 25, 2012 04:56 PM PST SEOUL (Reuters) - Samsung Electronics said on Wednesday it had filed a complaint against Ericsson with the U.S. International Trade Commission (ITC), requesting a U.S. import ban and sales ban on some of the Swedish telecoms equipment maker's products. The action taken on Friday by the world's top smartphone maker, which accused Ericsson of breaching seven of its patents, came after Ericsson requested an ITC U.S. import ban on Samsung products and sued the South Korean firm for patent infringement. "We have sought to negotiate with Ericsson in good faith. ... Full Story	Top
Jaguar Land Rover's China unit to recall cars over safety worries  Tuesday, Dec 25, 2012 04:49 AM PST BEIJING (Reuters) - Jaguar Land Rover's Chinese subsidiary will recall 337 cars because of substandard fixings in their brakes and steering boxes, China's national product quality watchdog said on Tuesday. The General Administration of Quality Supervision, Inspection and Quarantine said in a statement on its website that Jaguar Land Rover's China unit is recalling 190 2012 Evoque and Freelander vehicles produced on June 11 this year. ... Full Story	Top
Hitachi CEO: Still in talks on Lithuania nuclear project  Tuesday, Dec 25, 2012 01:31 AM PST TOKYO (Reuters) - Japan's Hitachi Ltd remains in talks with Lithuania over its plans to build a nuclear plant after the European country's new centre-left government said it could shelve nuclear projects, the company's top executive said on Tuesday. Hitachi, a century-old conglomerate that designs and builds nuclear power plants with General Electric Co in two joint ventures, has shifted its focus overseas as Japan shuns nuclear energy in the wake of the worst radiation crisis in 25 years at the Fukushima Daiichi nuclear plant last year. ... Full Story	Top
Japan's incoming PM keeps up pressure on BOJ to attack deflation  Tuesday, Dec 25, 2012 12:54 AM PST TOKYO (Reuters) - Incoming Japanese Prime Minister Shinzo Abe kept up his calls on Tuesday for the Bank of Japan to drastically ease monetary policy by setting an inflation target of 2 percent, and repeated that he wants to tame the strong yen to help revive the economy. Abe, a security hardliner who will be sworn in as premier on Wednesday, when he is also expected to appoint his cabinet, is prescribing a mix of aggressive monetary policy easing and big fiscal spending to beat deflation and rein in the strong yen. ... Full Story	Top
Sony says China business has recovered, foresees growth  Monday, Dec 24, 2012 11:45 PM PST BEIJING (Reuters) - Sony Corp's business in China has "more or less" returned to levels seen before recent protests against Japan's actions over a group of disputed islands, the Japanese company's China chief, Nobuki Kurita, told reporters on Tuesday. Calls for boycotts of Japanese products broke out across China in September after Japan nationalized two of a group of disputed East China Sea islands, known as the Diaoyu in Chinese and the Senkaku in Japanese, by purchasing them from their private owners. ... Full Story	Top
Yen on defensive on U.S. fiscal worry, helps Nikkei  Monday, Dec 24, 2012 09:52 PM PST TOKYO (Reuters) - Uncertainty over whether U.S. lawmakers will strike a deal by an end-of-year deadline to avert a severe fiscal retrenchment undermined the yen and bolstered Japanese shares on Tuesday in low volume, with many participants away on Christmas holiday. The dollar rose to a 20-month high of 84.965 yen early on Tuesday in Asia, as Japanese markets caught up with global investors who had reacted overnight to incoming Japanese Prime Minister Shinzo Abe's weekend comments that raised the pressure on the Bank of Japan. ... Full Story	Top

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