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| Asian shares fall as focus shifts to U.S. budget talks Tuesday, Nov 27, 2012 07:13 PM PST  TOKYO (Reuters) - Asian shares ended a seven-day winning streak on Wednesday and commodities eased as investors fretted that lack of progress in talks on U.S. budget woes risked putting the world's largest economy into recession. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent, retreating from Tuesday's nearly three-week highs, with materials and energy sectors leading the declines. Shares in resource-reliant Australian dropped 0.4 percent, easing from two-week highs, dragged lower by top miners on weaker gold and oil prices. ... Full Story | Top |
| Fed's Evans wants more easing, Fisher wants limits Tuesday, Nov 27, 2012 06:50 PM PST  TORONTO/BERLIN (Reuters) - Deep divisions at the Federal Reserve were on display on Tuesday, just two weeks before the U.S. central bank's next policy-setting meeting, with one top Fed official pushing for more easing, and another advocating limits. The divide underscores the hurdles Fed Chairman Ben Bernanke faces as he tries to win consensus among his fellow policymakers on the central bank's sometimes controversial efforts to bring down the nation's lofty unemployment rate, which registered 7.9 percent last month. ... Full Story | Top |
| SEC's Walter may take similar path to ally Schapiro Tuesday, Nov 27, 2012 06:49 PM PST  WASHINGTON (Reuters) - For the past four years, Elisse Walter stood out at the U.S. Securities and Exchange Commission for her deep loyalty to SEC Chairman Mary Schapiro. Now the veteran regulator and SEC commissioner - one of two Democrats on the SEC - is moving to the fore at the powerful agency, taking over the chairmanship after Schapiro steps down next month. The promotion is prompting regulatory watchers to talk about whether Walter will blaze her own path. ... Full Story | Top |
| Majority of Britons want press watchdog backed by law: poll Tuesday, Nov 27, 2012 06:47 PM PST LONDON (Reuters) - More than two-thirds of Britons are in favor of an independent press regulator established by law, according to an opinion poll published in the Guardian newspaper on Wednesday, a day before a judge is expected to issue a report on problems in the industry. The poll found that 79 percent of Britons surveyed want the government to introduce legislation to create an independent press regulator. Only 9 percent oppose tough measures regulating the press. ... Full Story | Top |
| Obama promotes tax agenda, Congress in stand-off Tuesday, Nov 27, 2012 06:25 PM PST  WASHINGTON (Reuters) - President Barack Obama on Tuesday launched a public relations push for his bid to raise taxes on wealthy Americans, but U.S. lawmakers remained deadlocked over dramatic, year-end tax increases and spending cuts known as the "fiscal cliff." At the White House, small business leaders emerged from a one-hour meeting with Obama to voice support for his goal of extending low tax rates for the middle class beyond the end of the year, while letting rates rise for wealthier taxpayers. ... Full Story | Top |
| CNOOC, Nexen reapply for U.S. deal approval Tuesday, Nov 27, 2012 05:52 PM PST CALGARY, Alberta (Reuters) - China's state-owned CNOOC Ltd and its Canadian takeover target Nexen Inc have withdrawn and resubmitted an application for U.S. approval of their $15.1 billion deal, as Canada gets close to its decision on whether to approve the transaction. The energy companies said on Tuesday that discussions with the Committee on Foreign Investment in the United States (CFIUS) were still in progress, "with a view to completing the CFIUS review process as expeditiously as possible." In a brief statement, they did not provide a reason for, or the timing of, the unexpected move. ... Full Story | Top |
| Bakers' union seeks Chapter 11 trustee for Hostess liquidation Tuesday, Nov 27, 2012 05:33 PM PST  NEW YORK (Reuters) - The bakers' union of Hostess Brands Inc asked the judge overseeing the company's bankruptcy on Tuesday to appoint a Chapter 11 trustee to ensure an orderly wind-down. In a filing in the U.S. Bankruptcy Court in White Plains, N.Y., lawyers for the union and a related pension fund said they objected to allowing "incumbent management" to supervise the company's liquidation. ... Full Story | Top |
| Obama to meet with CEOs from Goldman, Deloitte on Wednesday Tuesday, Nov 27, 2012 05:21 PM PST  WASHINGTON (Reuters) - Chief executives from top U.S. corporations, including Goldman Sachs , Deloitte LLP, and Caterpillar Inc , will meet with President Barack Obama on Wednesday to discuss U.S. fiscal problems, the White House said. Obama's meeting with influential leaders from the corporate world is part of his push for Congress to extend tax cuts for middle income Americans, one flashpoint in a standoff with Congress over the "fiscal cliff" - a series of tax hikes and spending cuts that will go into effect next year if lawmakers and the president cannot come up with a deal to stop them. ... Full Story | Top |
| CNN to tap ex-NBC boss Zucker for turnaround: source Tuesday, Nov 27, 2012 05:19 PM PST  LOS ANGELES (Reuters) - Jeff Zucker, a former head of NBCUniversal and the producer of Katie Couric's talk show, will be named president of Time Warner Inc's ratings-starved CNN cable news channel, a source close to the situation said on Tuesday. Zucker will succeed departing CNN Worldwide President Jim Walton, who said in July he was leaving the once-dominant news network after nine years in the job and a recent ratings slump. The appointment of Zucker as the new president of CNN Worldwide will be announced by the end of next week, the source said. ... Full Story | Top |
| Toyota sees post-Sandy boost to November auto sales Tuesday, Nov 27, 2012 05:15 PM PST  LOS ANGELES (Reuters) - Toyota Motor Corp U.S. executive Jim Lentz said consumers purchasing new vehicles to replace those lost during Superstorm Sandy will mean strong November U.S. auto sales. On a seasonally adjusted annualized basis, November U.S. sales will be between 14.8 million and 15.2 million new vehicles, said Lentz, president and chief executive of Toyota Motor Sales, USA. Lentz, speaking on the sidelines of a J.D. ... Full Story | Top |
| Google CEO met with FTC officials: Bloomberg Tuesday, Nov 27, 2012 04:33 PM PST SAN FRANCISCO (Reuters) - Google Inc Chief Executive Larry Page met with officials from the U.S. Federal Trade Commission in Washington on Tuesday, as the agency moves closer to completing an investigation of the Internet company's business practices, according to Bloomberg news, which cited an anonymous source. Google Executive Chairman Eric Schmidt and the head of Google's Washington office were spotted on Capitol Hill, according to the report. ... Full Story | Top |
| FTC patent ruling might hint at how it will treat Google case Tuesday, Nov 27, 2012 04:33 PM PST  WASHINGTON (Reuters) - Federal regulators investigating Google for a range of accusations of antitrust violations took a stand this week on how to handle a type of patent similar to ones in the Google case, but also exposed a rift between regulators on how to proceed. The disagreement focuses on whether the Federal Trade Commission can use its power to enforce rules against unfair competition in pursuing companies which ask for sales injunctions against rivals because of allegations that their so-called standard essential patents (SEP) have been infringed. ... Full Story | Top |
| U.S. declines to name China currency manipulator Tuesday, Nov 27, 2012 04:31 PM PST  WASHINGTON (Reuters) - The Obama administration said on Tuesday that China's currency remained "significantly undervalued," but stopped short of labeling the world's second-biggest economy a currency manipulator. Although Beijing controls the pace at which the yuan can rise, the U.S. Treasury said in a congressionally mandated semi-annual report that China did not meet the legal requirements to be deemed a currency manipulator. The label is largely symbolic, but would require Washington to open discussions with Beijing on adjusting the yuan's value. It has been 18 years since the U.S. ... Full Story | Top |
| Deutsche Bank faces Libor questions from German lawmakers Tuesday, Nov 27, 2012 04:02 PM PST  FRANKFURT (Reuters) - Deutsche Bank's compliance chief Stephan Leithner and former board member Hugo Baenziger face skeptical German lawmakers on Wednesday as parliamentarians seek answers about how banks manipulated global benchmark interest rates. ... Full Story | Top |
| Obama shields U.S. airlines from EU carbon fees Tuesday, Nov 27, 2012 03:56 PM PST  WASHINGTON (Reuters) - President Barack Obama signed a bill on Tuesday shielding U.S. airlines from paying for each ton of carbon their planes emit flying into and out of Europe, despite a recent move by Europe to suspend its proposed measure for one year. The carbon fee bill was the first piece of legislation debated on the House floor after Congress returned from recess on November 13, and had been cleared by the Senate in September in a rare unanimous vote. It directs the U.S. transportation secretary to shield U.S. ... Full Story | Top |
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