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| Japan finance minister Aso: weak yen result, not goal of anti-deflation policies Saturday, Feb 02, 2013 11:07 PM PST  TOKYO (Reuters) - Japan's Finance Minister Taro Aso on Sunday said it was not Tokyo's goal to weaken the yen and its policies were purely aimed at beating deflation, brushing off foreign concerns about currency wars ahead of a G20 meeting in Moscow. Japanese Prime Minister Shinzo Abe's calls for aggressive action by the Bank of Japan (BOJ), which has prompted a slide in the yen, has raised alarm in Europe it could contribute to a "currency war" as other central banks adopt similar policies. "We have launched policies aimed at ending deflation. ... Full Story | Top |
| China services' slow uptick highlights mildness of recovery Saturday, Feb 02, 2013 09:08 PM PST BEIJING (Reuters) - Growth in China's increasingly important services sector rose for the fourth straight month in January, though the slim increase added to evidence that the recovery in the world's second-largest economy remains a modest one. China's official purchasing managers' index (PMI) for the non-manufacturing sector rose to 56.2 in January from 56.1 in December, the National Bureau of Statistics (NBS) said on Sunday. The figure follows the bureau's PMI for the manufacturing sector on Friday, which eased to 50.4 in January, missing market expectations. ... Full Story | Top |
| U.S., Mexico reach tomato deal to avert trade war Saturday, Feb 02, 2013 08:35 PM PST  WASHINGTON (Reuters) - The U.S. government and Mexican tomato growers reached a tentative agreement on Saturday that reduces the threat of a costly trade war stemming from a U.S. decision last year to pull out of a 1996 bilateral tomato trade pact. "I am pleased that we were able to come to an agreement on fresh tomato imports from Mexico that restores stability and confidence to the U.S. tomato market and meets the requirements of U.S. law,"€ U.S. Commerce Under Secretary for International Trade Francisco Sanchez said in a statement. ... Full Story | Top |
| ANA in talks with Boeing to speed up 777 jet deliveries: Nikkei Saturday, Feb 02, 2013 07:59 PM PST  TOKYO (Reuters) - Japan's All Nippon Airways is in talks with U.S. aircraft maker Boeing Co to speed up the delivery of three 777 jetliners as its fleet of 787 Dreamliner airplanes remains grounded with undiagnosed battery problems, the Nikkei newspaper said on Sunday. All 50 Boeing 787s worldwide remain grounded as authorities in the United States, Japan and France investigate a battery fire in Boston on January 7 and a separate battery failure that forced a second 787 to make an emergency landing in Japan a week later. ... Full Story | Top |
| U.S., Mexico in weekend talks on tomato pact Saturday, Feb 02, 2013 02:57 PM PST  WASHINGTON (Reuters) - U.S. Commerce Department officials and Mexican tomato growers on Saturday were in intense talks aimed at reaching a deal to govern tomato trade between the two countries, a Commerce Department official said. The two sides hope to reach an agreement by a Monday deadline, the official told Reuters, while declining to characterize how close the two sides were. The department made a preliminary decision in September to terminate a 1996 U.S. ... Full Story | Top |
| German opposition SPD threatens to block Cyprus aid -Spiegel Saturday, Feb 02, 2013 09:16 AM PST BERLIN (Reuters) - Germany's opposition Social Democrats (SPD) will only back a bailout for Cyprus if Nicosia agrees to consolidate its banks among other conditions, the party's challenger to Chancellor Angela Merkel was quoted as saying on Saturday. "SPD agreement will only come under certain conditions," Peer Steinbrueck, who takes on Merkel in September's election, was quoted in Der Spiegel weekly as saying. Before any rescue deal, Cyprus would have to consolidate "its completely bloated banking sector" and wind up some institutions, the magazine quoted Steinbrueck as saying. ... Full Story | Top |
| Argentina aims at bond "holdouts" ahead of court showdown Saturday, Feb 02, 2013 08:47 AM PST BUENOS AIRES (Reuters) - Argentina has made its final written arguments ahead of a February 27 U.S. courtroom showdown against "holdout" bondholders demanding 100 cents on the dollar for debt that the South American country defaulted on more than a decade ago. Oral arguments in the case, which could raise emerging market sovereign borrowing costs by complicating future restructurings, are set for the end of this month before the U.S. 2nd Circuit Court of Appeals in New York. ... Full Story | Top |
| Fox hits back at Dish in AutoHop bout Saturday, Feb 02, 2013 08:40 AM PST (Reuters) - Fox Network made a fresh attack on Dish Network Corp over the No. 2 U.S. satellite TV company's ad-skipping technology and related PrimeTime Anytime appeal. AutoHop allows users to play back commercial-free versions of certain primetime shows they record from ABC, CBS, NBC and Fox. ... Full Story | Top |
| Monte Paschi probe to widen as Italian election nears Saturday, Feb 02, 2013 07:53 AM PST  ROME (Reuters) - A plan by Italy's central bank to use bonds to bail out the troubled Monte Paschi bank can go ahead, a court ruled on Saturday, as a scandal surrounding the world's oldest lender looked likely to widen three weeks before a national election. Magistrates in three cities investigating the Tuscan bank were poised to issue new summonses for more witnesses to give information next week following testimony by a raft of bankers in the past few days, leading newspapers said. ... Full Story | Top |
| Daimler CEO to get new contract on February 21: source Saturday, Feb 02, 2013 06:02 AM PST FRANKFURT (Reuters) - Daimler's supervisory board will extend the contract of Chief Executive Dieter Zetsche later this month by five years until the end of 2018, a source familiar with the matter told Reuters. "The board meeting on February 6 is just to approve the preliminary annual earnings results. The first full board meeting where personnel issues will be discussed is on February 21," the source said. Zetsche, who also serves as head of luxury brand Mercedes-Benz, will be 65 years old by the time the new contract expires. ... Full Story | Top |
| Strike at Sabic Dutch chemical plant hits output Saturday, Feb 02, 2013 04:40 AM PST KHOBAR, Saudi Arabia (Reuters) - A strike by workers at the SABIC Europe Chemicals Geleen plant in the Netherlands has cut production, the company's Saudi Arabian owner said on Saturday. Saudi Basic Industries Corp (SABIC) said in a bourse statement that talks with a union over working conditions had not yet been successful and that it did not know what impact the strike would have on profits or production. ... Full Story | Top |
| Zambia's 2012 copper output falls y/y to 824,976 T Saturday, Feb 02, 2013 04:06 AM PST  LUSAKA (Reuters) - Copper production in Zambia, Africa's largest producer of the metal, dropped to 824,976 tonnes in 2012 from 881,108 tonnes the previous year, a central bank spokesman said on Saturday. Copper exports rose to 903,138 tonnes during the period from 832,145 tonnes during the previous twelve months, spokesman Kanguya Mayondi said. Cobalt production fell to 5,436 tonnes from 7,701 tonnes, but exports of that metal increased to 10,030 from 7,830 tonnes, he added. Full Story | Top |
| Merkel says EU budget talks will be tough, outcome unclear Saturday, Feb 02, 2013 04:00 AM PST  BERLIN (Reuters) - German Chancellor Angela Merkel urged her EU partners on Saturday to work together to get a deal on the 27-member bloc's budget at a summit this week, warning that agreement was far from certain. EU leaders meet in Brussels on Thursday and Friday to try to clinch a deal on its 1 trillion euro budget for 2014-2020 after they failed to do so in November. In her weekly podcast, Merkel said she expected very difficult negotiations. "Germany will try to contribute to a result. We will only be able to see at the end of next week whether it succeeds," she said. ... Full Story | Top |
| S.Africa's rand recovers against dollar, eyes 8.85 Saturday, Feb 02, 2013 12:47 AM PST  JOHANNESBURG (Reuters) - South Africa's rand was on track for a second day of gains against the dollar on Friday, eyeing 8.85 as investors that had sold the currency due to a gloomy economic outlook readjust their positions. Government bonds took their cue from the stronger currency, with the yield on the heavily-traded benchmark 2026 bond shedding 5 basis points to 7.295 percent. The yield for the short-dated paper due in 2015 was down 3.5 basis points at 5.325 percent. The rand traded up 0.85 percent at 8.8756 to the dollar by 1552 41 GMT, after ending Thursday's session in New York at 8. ... Full Story | Top |
| Gulf states hand Morocco first chunk of $2.5 bln aid package Saturday, Feb 02, 2013 12:42 AM PST  RABAT (Reuters) - Morocco has received the first slice of a $2.5 billion aid package promised by wealthy Gulf Arab states, a Moroccan official said on Friday, part of pledge designed to cement ties between Arab monarchies in the wake of regional uprisings. Saudi Arabia, Qatar, the United Arab Emirates and Kuwait agreed in December 2011 to distribute $2.5 billion to both Morocco and Jordan, the only two Arab states outside the Gulf with monarchies. ... Full Story | Top |
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