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Tuesday, January 4, 2011 12:00 AM PST

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Today's Business News: Japan stocks lead Asia on signs of U.S. recovery Judge denies bail for insider trading defendant Consumer bankruptcies hit 5-year high in 2010 AIG gets alternative proposal for Taiwan unit December U.S. retail sales: upswing's last hurrah? Barron's sees stock market rise US manufacturing grows in December: ISM Earnings schedule for week of 1/03/11 French trial for 8 suspects in terror finance ring BofA settlement with Fannie, Freddie "clears air" Asia factory output powers ahead but inflation worries Blizzard delays $1 billion in holiday sales BofA settles sour mortgages with Fannie Mae, Freddie Oil near 27-month peak Britain's austerity measures to stay on track: economists 7 insurers sue Toyota over acceleration crashes The Court Case Haunting Health Care Japan stocks lead Asia on signs of U.S. recovery Mon, 3 Jan 2011 10:48 pm PST Reuters - Japanese stocks led Asian equities higher, climbing to their highest since May, and oil prices were perched near a 27-month high on Tuesday, with investors betting the improving U.S. recovery may be reflected in jobs data later in the week. Full Story Top Judge denies bail for insider trading defendant Mon, 3 Jan 2011 01:40 pm PST Reuters - A federal magistrate refused to grant bail on Monday to a California woman charged with leaking inside information about technology companies. Full Story Top Consumer bankruptcies hit 5-year high in 2010 Mon, 3 Jan 2011 11:24 pm PST Reuters - The number of U.S. consumers who filed for bankruptcy protection in 2010 was the highest in five years, and the figure could rise as Americans struggle with excess debt in an uncertain economy, a report issued Monday said. Full Story Top AIG gets alternative proposal for Taiwan unit Mon, 3 Jan 2011 11:22 pm PST Reuters - American International Group's (AIG.N) protracted sale of its Taiwan unit took another twist on Tuesday when a local firm proposed jointly running the unit with the bailed-out insurer instead of a sale that AIG has been pushing for. Full Story Top December U.S. retail sales: upswing's last hurrah? Mon, 3 Jan 2011 09:19 pm PST Reuters - U.S. retailers should post another month of strong sales gains for December, capping their best holiday season since 2007, amid doubts that shoppers will keep spending as enthusiastically in the new year. Full Story Top Barron's sees stock market rise Sun, 2 Jan 2011 01:37 pm PST Reuters - Wall Street strategists are bullish about the market's prospects in 2011, expecting stocks to rise an average of 10 percent, with big-cap shares like Exxon Mobil Corp (XOM.N), Wal-Mart Stores Inc (WMT.N) and Pfizer Inc (PFE.N) leading the way, Barron's reported on Sunday. Full Story Top US manufacturing grows in December: ISM Mon, 3 Jan 2011 08:03 am PST AFP - US manufacturing grew in December for the 17th month, capping a strong year in the sector that is leading the economic recovery from recession, according to a key industry survey released Monday. Full Story Top Earnings schedule for week of 1/03/11 Thu, 30 Dec 2010 10:45 am PST AP - Major companies tentatively scheduled to report quarterly earnings next week: Full Story Top French trial for 8 suspects in terror finance ring Mon, 3 Jan 2011 12:14 pm PST AP - Eight men went on trial on Monday in Paris for their alleged roles in an armed gang accused of using explosives and the threat of violence to finance Islamic terror operations. Full Story Top BofA settlement with Fannie, Freddie "clears air" Mon, 3 Jan 2011 03:39 pm PST AP - Bank of America Corp. reached a $2.8 billion settlement with Fannie Mae and Freddie Mac over claims that one of its businesses sold bad mortgages. The payment is far lower than analysts expected and removes some uncertainty that has hovered over the bank. Full Story Top Asia factory output powers ahead but inflation worries Mon, 3 Jan 2011 01:08 am PST Reuters - Asian factory output powered ahead in December to underline emerging markets' lead in the global recovery although data showed an increasing inflation threat in the region even as growth is tepid in developed economies. Full Story Top Blizzard delays $1 billion in holiday sales Wed, 29 Dec 2010 06:35 pm PST Reuters - A blizzard in the Northeast this weekend postponed about $1 billion in holiday retail sales by keeping shoppers out of stores in the days after Christmas, research firm ShopperTrak said on Wednesday. Full Story Top BofA settles sour mortgages with Fannie Mae, Freddie Mon, 3 Jan 2011 01:29 pm PST Reuters - Bank of America Corp agreed to pay $2.8 billion to mortgage finance giants Fannie Mae and Freddie Mac to settle claims over soured mortgages, signaling the bank may be closer to containing its out-sized housing losses. Full Story Top Oil near 27-month peak Mon, 3 Jan 2011 11:43 pm PST Reuters - Oil hovered near the highest price levels in more than two years, as accelerating manufacturing activity in industrialized economies and winter weather fanned expectations that U.S. crude inventories will continue to drain. Full Story Top Britain's austerity measures to stay on track: economists Mon, 3 Jan 2011 06:22 pm PST AFP - Britain's plan to reduce its record deficit will stay on track this year because deep spending cuts and tax rises will not cut growth enough to cause a double-dip recession, leading economists said Tuesday. Full Story Top 7 insurers sue Toyota over acceleration crashes Mon, 3 Jan 2011 11:08 pm PST AP - Seven insurance companies have sued Toyota Motor Corp. in an attempt to recover money paid to cover crashes they blame on sudden acceleration. Full Story Top The Court Case Haunting Health Care Mon, 3 Jan 2011 05:08 am PST BusinessWeek - Before there was the Tea Party, there was Roscoe Filburn. Almost 60 years ago, Filburn took a stand against what he saw as federal meddling with his family farm in Dayton. When the Agriculture Dept. fined him for exceeding his government-imposed quota for winter wheat production, Filburn sued, taking his case all the way to the Supreme Court. Full Story Top

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