The differences over how to resolve the "fiscal cliff" narrowed
significantly Monday night as President Barack Obama
made a counter-offer to Republicans that included a major change in position on
tax hikes for the wealthy, according to a source familiar with the talks.
Differences over how to resolve the fiscal cliff narrowed significantly Monday night as President Barack Obama made a counter-offer
to Republicans that included a major change in position on tax hikes for the
wealthy, according to a source familiar with the talks.
A U.S. judge on Monday denied Apple Inc's request for a permanent
injunction against Samsung Electronics' smartphones, depriving the iPhone maker
of key leverage in the mobile patent wars.
Asian shares and other risk assets rose on Tuesday as signs of compromise sparked new optimism that the U.S. "fiscal cliff" budget tussle
could be settled before tax hikes and spending cuts begin to bite early next
year.
China
home prices
showed fresh signs of recovery taking hold in November, the
fourth month in the last five to show a rise as a two-year long government
campaign to curb prices frays.
The yen edged lower and neared a 20-month low versus the dollar on Tuesday, dogged by expectations that a new Japanese
government would nudge the Bank of Japan toward more drastic monetary
stimulus.
In the Chinese city of Nanchang, where the local government is building a
new subway network, the modern train station rising out
of the red earth sits in an empty part of town. The crowds that Nanchang
envisions will someday use its metro are nowhere in sight.
European (SXXP) stock
futures advanced, indicating the Stoxx Europe 600 Index will gain,
amid optimism that U.S. lawmakers will agree on a new budget. U.S. index
futures and Asian shares also climbed
India’s central bank left interest rates unchanged
for a fifth straight meeting, as the fastest
inflation among the biggest emerging nations inhibits scope for monetary easing
sought by the government
The Reserve Bank of Australia
decided to cut interest rates to match the half-century low set during the 2009 global recession as a softer job market gave it
room to bolster demand, minutes of its Dec. 4 meeting showed
Weaker prices for raw materials last quarter and the elevated currency prompted mining companies including BHP Billiton Ltd. (BHP)
and Fortescue Metals Group Ltd. (FMG)
to put off projects and cut jobs.
China has set its initial
target for economic growth at 7.5
percent for a second year and tightened its
inflation goal to the lowest level since 2010, two bank executives and a
regulatory official briefed on the matter said.
Oil rose for a third day in New York on speculation that an agreement will be reached to avert a U.S. budget impasse that would trigger
automatic spending cuts and tax increases next year, sapping demand for fuels.
Dim Sum debt sales may jump as much as 37 percent in 2013 as China’s new leadership encourages use of its currency in
finance centers from London
to Taipei, this year’s leading underwriter predicts.
Boeing Co. said late Monday that it
raised its regularly
quarterly dividend, and that the company will resume its stock-repurchase
program next year.
Energy stocks gained Monday, riding a wave
of renewed optimism about
U.S. stocks as a budget deal in Washington appeared to be within reach.
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