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Premier Wen Seen Paring China Growth Target as Inequality Rises
China’s Premier Wen Jiabao is seen signaling next month that curbing pollution, inequality and the risk of financial instability eclipse the benefits of faster economic growth, a survey of analysts indicated.
Okada Put Gambling Official in $6,000 Macau Suite, Wynn Says
Wynn Resorts Ltd. accused Japanese billionaire Kazuo Okada of putting up a Philippines gaming regulator in a $6,000-a-day suite in Macau as part of a series of payments that the company said appear to have violated U.S. anti-bribery law.
HSBC to Withdraw From Japan Consumer Banking, Close Branches
HSBC Holdings Plc, Europe’s largest bank, will withdraw from consumer banking in Japan, closing down six branches four years after starting the business.
Men Aren’t Going Extinct, Study of Shrinking Y Chromosome Finds
Men aren’t going extinct, scientists assured the world yesterday.
Rudd Quits, Signaling Gillard Challenge
Kevin Rudd resigns as Australian foreign minister, increasing speculation he will challenge Prime Minister Julia Gillard for the nation’s top job
News Express: China Slowdown, France Telecom, Shell
Feb. 22 (Bloomberg) -- China 's manufacturing may shrink for a fourth month in February, indicating the world’s second-biggest economy remains vulnerable to a deeper slowdown as Europe's crisis caps exports and the housing market cools. (Source: Bloomberg)
IPad Trademark Fight in China
Feb. 22 (Bloomberg) -- Kenny Wong, a partner and head of the intellectual property practice of Mayer Brown JSM in Hong Kong, talks about Apple Inc.'s trademark dispute over the iPad name with Proview International Holdings Ltd. in China. He speaks with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
China Expected to Aid Europe Through IMF
Feb. 22 (Bloomberg) -- Alicia Garcia-Herrero, chief emerging-markets economist at Banco Bilbao Vizcaya Argentaria SA in Hong Kong, talks about China's economy, central bank monetary policy and the nation's possible involvement in helping resolve the European debt crisis. She speaks with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)
China's Pledge to Support Europe: Reading the Tea Leaves
China's recent announcements that it supports Europe lack details. The open questions are how might China invest and what it wants in return

China economy

SEC files fraud charges against 2 Chinese execs (AP)
AP - Federal regulators have filed civil fraud charges against the chairman and the former CEO of a Chinese company, accusing them of duping people to invest in a coal company that was an empty shell.
As China clamps down, Tibet struggle grows radical (AP)

AP - Police don't travel far to monitor the goings-on at the Gami Temple at the edge of the Tibetan plateau. The police station sits inside the monastery, just outside the gates to the main prayer hall.
Company sues Apple over iPad name in Shanghai (AP)

AP - Apple Inc. defended its right to use the iPad trademark in China in a heated court hearing Wednesday that pitted the electronics giant against a struggling Chinese electronics company that denies having sold the mainland China rights to the popular tablet computer's name.
Tibetans mark new year under shadow of immolations (Reuters)
Reuters - Tibetans in northwest China marked a tense traditional new year with prayer, the sounding of a gong and subdued defiance on Wednesday, in the wake of a string of self-immolations and protests against Chinese control.
China frets as choice for Hong Kong leader strays off script (Reuters)
Reuters - A political storm that has rocked the candidacy of the frontrunner to become Hong Kong's next leader poses a delicate challenge for Beijing, and in particular for the man expected to take over as China's president in 2013.
Uighur protests as China's Xi visits Turkey (Reuters)
Reuters - Activists from China's Muslim Uighur minority burnt Chinese flags in Ankara on Tuesday where China's leader-in-waiting Xi Jinping was holding talks with Turkish officials on regional issues.
Summary Box: China carmaker plant in Bulgaria (AP)
AP - CHINA ARRIVES: Great Wall Motors launched operations in Bulgaria on Tuesday, becoming the first Chinese automaker to assemble cars in the European Union.
Chinese carmaker opens plant in Bulgaria (AP)
AP - Great Wall Motors launched operations in Bulgaria on Tuesday, becoming the first Chinese automaker to assemble cars in the European Union.
China, Turkey signs currency swap deal (AP)

AP - China and Turkey on Tuesday set aside differences on how to deal with the raging violence in Syria and signed a three-year currency swap deal worth $1.6 billion (euro1.2 billion) to enable bilateral trade in local currencies.

Japan economy

U.S. wants more talks on Japan bid to join Pacific trade group (Reuters)
Reuters - The United States said on Wednesday it was still considering whether to support Japan's bid to join talks on a trans-Pacific regional free trade agreement, three months after Tokyo announced interest in the negotiations.
Japan cuts in Iran crude imports could be over 20 percent (Reuters)
Reuters - Japan is in final talks with Washington on an agreement on cuts in Iranian crude oil imports that could amount to a higher-than-expected 20 percent or more a year, a newspaper reported on Thursday, as Tokyo seeks to win waivers from U.S. sanctions.
Japan royal heir suggests easier load for emperor (AP)
AP - Japan's crown prince believes efforts should be made to reduce the burden on his ailing father, Emperor Akihito, as the 78-year-old monarch recovers from heart bypass surgery.
Dollar rises to 7-month high against Japanese yen (AP)
AP - The dollar rose to a seven-month high against the Japanese yen, a week after the Bank of Japan announced a surprise increase of its economic stimulus program.
Japan mayor's call for a "dictator" strikes chord with voters (Reuters)
Reuters - "What Japan needs most now is a dictator."
NRC officials doubted US claim on Japan crisis (AP)
AP - Top Nuclear Regulatory Commission officials debated the accuracy of public statements made by the agency's chairman about a pool holding spent fuel rods at a crippled Japan nuclear plant, newly released transcripts show.
iOS 5.1 pre-GM leaked: Better camera access, Japanese Siri (Digital Trends)
Digital Trends - As the impending release of the iPad 3 draws nearer, the Apple leaks keep coming. Portuguese website BlogdoiPhone has just obtained a copy of the iOS 5.1 pre-Gold Master update â€” for those of you unfamiliar with Appleâ€™s beta update lingo, the Gold Master is generally the software product released to developers that will ship to consumers with very minor changes.
Foreign investors fear Japan banks may hijack Olympus board (Reuters)
Reuters - Western investors in Japan's disgraced Olympus have accused its banks of trying to take control of the boardroom by stealth, amid growing signs that the firm's major creditors are considering installing their own appointees in the top jobs.
Photos make slow way home in tsunami-hit Japan (Reuters)
Reuters - In a large, bright room not far from the ocean that raged through this coastal Japanese city nearly a year ago, a handful of people with magnifying glasses pore over boxes of photographs of friends or loved ones.

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Saturday, 20 February 2010 05:24

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SBA Loan Proposals Will Help Few Small Businesses

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Saturday, 20 February 2010 05:24

The Small Business Administration"s loan guarantee programs can"t revive credit access because most small businesses use other types of credit

UK human rights watchdog demands torture probe (AP)

Latest business news

Saturday, 20 February 2010 05:16

AP - The British government"s human rights watchdog has asked the justice secretary to conduct an urgent independent investigation into allegations that the government was complicit in the torture of Britons held abroad.

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Latin America economy

Argentine commuter train crashes, killing 49 people (Reuters)

Reuters - A packed commuter train crashed at a Buenos Aires station during Wednesday's morning rush hour, killing 49 people and injuring more than 600 in Argentina's worst rail disaster in three decades.
Argentine train slams into station, killing 49 (AP)
AP - The first two cars were packed as usual for the morning rush, so tightly that people stood pressed flesh to flesh, sandwiched between bicycles and the few seats, many without so much as a strap to hold onto.
Chavez surgery throws Venezuela into uncertainty (AP)

AP - President Hugo Chavez has never been one to share decision-making authority. Now, the voluble socialist strongman and acerbic critic of the U.S. may have no choice but to designate a successor.
EU report says Nicaragua vote lacked transparency (AP)
AP - A European Union observer team says there were irregularities in Nicaragua's presidential elections in November.
Chavez surgery rocks Venezuela ahead of election (Reuters)

Reuters - Venezuelan President Hugo Chavez's imminent departure for more cancer surgery in Cuba has thrown his re-election campaign into uncertainty and once again shaken the socialist leader's passionate supporters.

Mideast economy

West Bank settlement housing gets initial approval (AP)

AP - Israel gave preliminary approval on Wednesday to a plan to build 600 new homes in a settlement deep inside the West Bank, a move that drew rebukes from the United Nations and Palestinians and threatened to raise tensions with the U.S. as the prime minister prepares to head to the White House.
Hamas irons out dispute over Palestinian unity (AP)
AP - The leadership of the Islamic militant Hamas on Wednesday settled internal disagreements and approved a unity deal with its political rival, Palestinian President Mahmoud Abbas, a senior official said.
Golan Druse support for Syria regime cracking (AP)
AP - Syria's embattled leader, Bashar Assad, appears to be losing one of his last bastions of reliable support: the Druse Arab community in the Israeli-occupied Golan Heights.
Syria stalemate: Is Russia pushing Mideast into cold-war style conflict? (The Christian Science Monitor)
The Christian Science Monitor - Russia’s decision not to attend a “friends of Syria” meeting in Tunisia later this week deepens the international community’s divide over Syria and raises prospects of a cold-war-style proxy war in the Middle East.
Israel to free Palestinian hunger striker (AP)

AP - A Palestinian member of a violent Islamic militant group that advocates killing Israeli civilians agreed to end his 66-day hunger strike to protest his imprisonment without charge after reaching a deal with Israel that will free him in April, the Israeli Justice Ministry said Tuesday.

Asia Pacific economy

Mainland Chinese Flock to Hong Kong to Have Babies
Parents go to Hong Kong for better medical care and lifelong residency benefits for their children, but locals are outraged over being shut out of maternity wards.
Koran Burning at U.S. Base Incites Afghans For 2nd Day
A day after NATO officials apologized for the burning of Korans, American Embassy officials were on lockdown and hundreds of Afghans were marching on a NATO camp near Kabul.
At War Blog: Pentagon Says U.S. Citizens With Terrorism Ties Can Be Targeted in Strikes
The Obama administration's top Pentagon lawyer on Wednesday said that American citizens who join Al Qaeda can be targeted for killing and that courts should have no role in reviewing executive branch decisions about whether someone has met such criteria.
At War Blog: Supreme Court Takes Up Stolen Valor Case
The federal government on Wednesday mounted a vigorous defense in the Supreme Court of the Stolen Valor Act.
Kevin Rudd, Australia’s Foreign Minister, Resigns
Mr. Rudd resigned on Wednesday amid speculation that he was seeking to topple Prime Minister Julia Gillard and regain the country’s leadership role.

Economy news

Poll: Obama benefitting from improving economy (AP)
AP - President Barack Obama is reaping political benefits from the country's brighter economic mood. A new poll shows that Republicans and Democrats alike are increasingly saying the nation is heading in the right direction and most independents now approve the way he's addressing the nation's post-recession period.
California Republicans back Democrat governor on pensions (Reuters)
Reuters - Republican lawmakers in California on Wednesday fully embraced Governor Jerry Brown's plan for overhauling public pensions and pressed his fellow Democrats, who control the state legislature, to back it as well.
Burned before, Fed officials cautious on rebound (Reuters)
Reuters - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed before.
Home resales at 1-1/2 year-high, supply falls (Reuters)

Reuters - Home resales rose to a 1-1/2-year high in January, pushing the supply of properties on the market to the lowest level in almost seven years in a hopeful sign for the housing sector.
Dollar rises to 7-month high against Japanese yen (AP)
AP - The dollar rose to a seven-month high against the Japanese yen, a week after the Bank of Japan announced a surprise increase of its economic stimulus program.
'Occupy' to hold national conference in Philly (AP)
AP - A group of protesters affiliated with the Occupy Wall Street movement plans to elect 876 "delegates" from around the country and hold a national "general assembly" in Philadelphia over the Fourth of July as part of ongoing protests over corporate excess and economic inequality.
Summary Box: Bank of England split on stimulus (AP)
AP - STIMULATING DISCUSSION: Minutes of their last meeting showed Bank of England rate-setters were divided about injecting another 50 billion pounds ($79 billion) into the economy. Two members argued for a bigger stimulus.
Private jet shipments slip, but improvement seen (Reuters)
Reuters - Worldwide shipments of business jets and other private aircraft fell again last year, but billings rose modestly in a sign of improvement in a tough economy.

Europe economy

Take Two: Can a Second Bailout Save Greece? (Time.com)
Time.com - After months of delays, arguments and doubts, euro zone finance ministers agreed on a second, $170 billion bailout of beleaguered Greece in the early hours of Tuesday morning
G20 hopes for progress on EU debt crisis: Carstens (Reuters)
Reuters - Group of 20 policymakers are hoping for a signal this weekend that Europe will boost crisis funding, smoothing the way for a deal to increase International Monetary Fund resources, the head of Mexico's central bank said on Wednesday.
Banks sink on European economic worry (Reuters)

Reuters - Banks led stocks lower on Wednesday as the S&P 500 stalled near a 10-month-high after signs of weak European business activity rekindled concerns about a recession overseas.
As austerity bites hard, a once pliant Spain revolts (The Christian Science Monitor)
The Christian Science Monitor - After four days of daily protests, some violently dispersed, Spain is bracing for a cycle of social unrest against the harshest austerity measures in decades. At stake is not only Spainâ€™s economic recovery, but that of the European Union.
Strauss-Kahn freed after French police questioning (AP)

AP - French police released former International Monetary Fund chief Dominique Strauss-Kahn on Wednesday after nearly 30 hours in custody for questioning about a suspected hotel prostitution ring.
Summary Box: Bank of England split on stimulus (AP)
AP - STIMULATING DISCUSSION: Minutes of their last meeting showed Bank of England rate-setters were divided about injecting another 50 billion pounds ($79 billion) into the economy. Two members argued for a bigger stimulus.
Greek lawmakers rush to clear promised austerity (AP)
AP - Greece scrambled Wednesday to push through a batch of emergency laws that will further cut incomes and state spending, a day after securing a new bailout and debt relief deal designed to stave off bankruptcy.
EU Council Prez Van Rompuy set to get 2nd term (AP)
AP - Herman Van Rompuy, who has attempted to guide the European Union through severe financial turmoil, will likely be reappointed president of the European Council at a meeting of the bloc's leaders next week, an EU official said Wednesday.
A look at Greece's new austerity measures (AP)
AP - Greece's lawmakers are to vote on a bill detailing euro3.18 billion ($4.2 billion) worth of austerity measures, as part of a second euro130 billion ($171 billion) bailout package and euro107 billion ($141 billion) debt relief deal with private creditors.