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Asia Stocks Rise as Toyota Boosts Profit Estimate; Yen Weakens
Asian stocks rose for a third day after Toyota Motor Corp. raised its profit forecast, while the euro traded near an eight-week high as Greek leaders worked on a rescue plan with creditors. The yen weakened against the dollar after Japan’s current-account surplus slid to a 15-year low.
Madonna’s Disco Groove Thumps On, McCartney Sends Valentine: CDs
Strip away Madonna’s relentless publicity machine, Givenchy costumes and Super Bowl appearance and what’s left is a single, “Give Me All Your Luvin,’” her latest reprise of the 1980s dance music that has made her career one long dance party.
Bharti Airtel Net Misses Estimates as Customers Curb Calls
Bharti Airtel Ltd., India’s largest wireless operator, reported profit that missed analysts’ estimates as customers curbed mobile-phone use amid rising call rates. The shares fell.
China May ‘Move Shortly’ on Aid for Europe, Academic Says
China may “move shortly” to help Europe resolve its debt crisis by providing an investment of as much as 100 billion euros ($132 billion), said Yuan Gangming, an economist at the Chinese Academy of Social Sciences.
Citi to Issue Credit Cards in China
China’s decision to allow Citigroup Inc. to issue credit cards may signal an opening of the banking market as the government relaxes restrictions that are the subject of a U.S. complaint at the World Trade Organization.
Fukushima's Hula Girls are Back
A Hawaiian theme park that propped up the economy of a rural Japanese town in Fukushima prefecture for 45 years was forced to close after the March 11 earthquake. Almost a year later, the hula girls have returned.
China's Wealthy Turn to Sunshine Trusts
Private trust-fund assets have tripled to $22 billion as wealthy Chinese seek alternatives to stocks and real estate
An Indian Boost for Green Energy
India’s largest state-run lender to electricity utilities plans to more than double lending for renewable energy projects within a year
Sina, Qihoo, Focus Media Stock Recommended
Feb. 7 (Bloomberg) -- Jiong Shao, regional head of Internet and media at Macquarie Securities, talks about Chinese Internet and advertising companies. Sohu.com Inc. tumbled the most in two years, and an index of Chinese U.S.-traded stocks dropped from a five-month high, as the owner of China’s third-biggest search engine posted an unexpected decline in profit. Shao also discusses Facebook Inc.'s planned initial public offering. He speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)

China economy

China leader-in-waiting carries heavy political baggage to U.S. (Reuters)
Reuters - A Communist "princeling" fond of small town America and Hollywood war dramas, and brusque critic of Western pressure with a daughter at Harvard, Chinese leader-in-waiting Xi Jinping embodies his nation's contradictory ties with the United States.
China sets target of average 13 percent annual minimum wage rise (Reuters)
Reuters - The annual average growth of China's minimum wages should be at least 13 percent in the five years to 2015, according to a government job market plan for the period published on Wednesday.
Entrepreneur pushes Chinese role in global credit (AP)
AP - Guan Jianzhong is waging a one-man crusade to change the global credit rating industry.
Mom in central China gives birth to 15 pound baby (AP)

AP - A mother in central China has given birth to a 15.52 pound (7.04 kilogram) baby, possibly the largest newborn on record since the country's founding in 1949.
Crusading China police chief drops out of sight (AP)
AP - A prominent Chinese official who might have been the country's most famous policeman has dropped from sight amid unconfirmed reports of a political scandal and a bid for U.S. asylum.
Chinese official takes "leave" in blow to ambitious Bo Xilai (Reuters)
Reuters - A deputy mayor of Chongqing in southwest China went on leave, the city government said on Wednesday, in the wake of feverish talk on the Chinese Internet that he faced a corruption probe and might even have sought refuge at a U.S. consulate.
Analysis: More than just Great Firewall awaits Facebook in China (Reuters)
Reuters - When it comes to China, Facebook should consider itself forewarned. Cracking the world's biggest internet population might seem an obvious ambition for the social networking giant as it trumpets its global growth before a $5 billion initial public offering, but the chances it will succeed look slim.
Chinese police hunt for man who stabbed 2 students (AP)
AP - Police in eastern China are hunting for a knife-wielding man who broke into a middle school Wednesday and stabbed two students before fleeing, local officials said.
China warns parents against Hong Kong birth tours (AP)
AP - Authorities in south China's Guangdong province say parents can be fined or punished for having more than one child, even if the babies are born in Hong Kong.

Japan economy

Japan firms talk on system chip tie in reform drive: sources (Reuters)
Reuters - Renesas Electronics and two other big Japanese chip makers are in talks to combine their struggling system chip operations in a government-backed deal, sources said, as pressure mounts for drastic reforms to confront stiff global competition.
Taiwanese-Japanese star implicated in beating (AP)
AP - Prosecutors say Taiwanese-Japanese starlet Makiyo has been barred from leaving Taiwan pending an investigation into her alleged involvement in the beating of a taxi driver in Taipei.
Toyota lifts profit forecast as disaster woes fade (AP)

AP - Toyota's quarterly profit slid 13.5 percent on production setbacks caused by last year's tsunami disaster and the flooding in Thailand, but Japan's top automaker raised its annual earnings forecast, saying a recovery is on track.
Five workers missing in flooded tunnel at Japan refinery (Reuters)
Reuters - Attempts to find five workers missing in an underwater tunnel at a refinery in western Japan were suspended on Tuesday due to poor visibility that posed a risk to rescue divers, police said.
US, Japan mull sending 4,700 Marines to Guam (AP)
AP - The United States and Japan, hoping to break a stalemate over the U.S. military presence on Okinawa, are discussing a plan to transfer nearly 5,000 troops to Guam despite their failure to replace a major Marine base on the southern Japan island.
U.S. reaches deal to avoid Japan, EU trade sanctions (Reuters)
Reuters - The United States said on Monday it has struck a deal sparing U.S. exporters from hundreds of millions of dollars in European and Japanese trade retaliation in a dispute over how Washington calculates anti-dumping duties on steel and other goods.
Hole lotta fun as Japanese dig for Golden Shovel (Reuters)
Reuters - Over a thousand people gathered on the outskirts of Tokyo, shovels and ladders in hand. Their goal: to dig their way to victory in the Japan All-National Hole Digging Competition, and claim the coveted Golden Shovel.
US, Japan agree to partial Marine transfer from Okinawa: media (Reuters)
Reuters - The United States and Japan have agreed to tweak a six-year-old agreement on Marines based on the southern island of Okinawa, allowing Washington to deploy forces to the Pacific island of Guam regardless of the debate over moving a disputed airbase.
Most Japanese towns undecided on nuclear stress tests: survey (Reuters)
Reuters - Three Japanese towns would be willing to restart their nuclear reactors if they pass government stress tests, two were against the idea but most were undecided, a newspaper survey suggested Saturday.

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Latin America economy

Chavez foe convinced of winning opposition primary (AP)

AP - Opposition leader Henrique Capriles is heading into Venezuela's first opposition primary warning that Hugo Chavez's foes must choose a strong candidate if they want to win back the presidency and halt the country's slide into chaos.
New film shows Mexico's failing education system (AP)
AP - Mexican teens can't solve long-multiplication problems. Education authorities don't know how many teachers work in Mexico. Teachers often miss class, and some who do show up have long conversations on their cellphones.
Argentina condemns British "militarization" in Falklands (Reuters)
Reuters - Argentina's president on Tuesday accused Britain of "militarizing the South Atlantic" and vowed to complain to the United Nations as tension rises ahead of the 30th anniversary of the Falklands war.
Indians, Panama gov't in deal to end road blockade (AP)

AP - Members of an Indian tribe in Panama have agreed with the government to end a highway blockade in return for the release of demonstrators detained when police used tear gas to clear the road over the weekend.
Jamaica government destroys 2,000 guns in furnace (AP)

AP - Roughly 2,000 firearms were melted down in a blazing furnace Tuesday as part of an effort designed to combat gun trafficking and corruption in Jamaica while reducing violent crime.

Mideast economy

Hezbollah says gets support, not orders, from Iran (Reuters)
Reuters - Lebanon's Hezbollah leader Sayyed Hassan Nasrallah acknowledged Tuesday for the first time that his militant movement received financial and material support from Iran, but denied it took instructions from the Islamic Republic.
Why UN gridlock on Syria could encourage Israel to attack Iran (The Christian Science Monitor)
The Christian Science Monitor - As Israel continues a lively debate on whether or not to strike Iranâ€™s nuclear facilities, the downbeat view in diplomatic circles at the United Nations is that the Security Councilâ€™s gridlock on Syria increases the chances of an Israeli attack.
Who is Hamas? 5 questions about the Palestinian militant group. (The Christian Science Monitor)
The Christian Science Monitor -
Hezbollah: Iran will not ask it to strike Israel (AP)

AP - Iran will not ask Lebanon's Hezbollah to retaliate if Israel attacks Iran's nuclear facilities, the leader of the militant group said Tuesday.
Vandals attack Jerusalem monastery, school (AP)

AP - Vandals attacked a monastery in Jerusalem and a prominent school with a mixed Jewish-Arab student body on Tuesday, and police said they suspected Jewish extremists were behind the violence.

Asia Pacific economy

India Ink: The Fanciful World of Foreign Aid
Aid is no more from rich country to poor, the author says. Instead, it is about giving presents.
Afghan Officials Question That Children Died of Cold
Government officials said that some refugee camp residents had exaggerated their circumstances to attract aid and called news accounts about the deaths “one-sided.”
Uttar Pradesh Election Is Window on Indian Politics
Analysts regard the election in Uttar Pradesh as a barometer of many key issues shaping Indian politics.
As Growth Slows, India Awakens to Need for Foreign Investment
India’s central bank and economic analysts predict that growth will fall sharply to 7 percent this fiscal year and remain sluggish.
Elections in Uttar Pradesh
India’s biggest state is also its biggest political prize and, with elections this month, its biggest political unknown.

Economy news

China sets target of average 13 percent annual minimum wage rise (Reuters)
Reuters - The annual average growth of China's minimum wages should be at least 13 percent in the five years to 2015, according to a government job market plan for the period published on Wednesday.
Disney earnings beat despite shaky economy (Reuters)
Reuters - Walt Disney Co's quarterly revenue fell short of Wall Street's expectations after the movie studio put in a poor showing, but profit grew at a faster-than-expected 12 percent clip as media networks and theme parks held strong in an uncertain economy.
No cigar: Economic embargo on Cuba turns 50 (AP)

AP - When it started, American teenagers were doing "The Twist." The United States had yet to put a man into orbit around the Earth. And a first-class U.S. postage stamp cost 4 cents.
Dow approaches 13,000, and maybe a record to come (AP)

AP - It was just last summer that the Dow Jones industrial average shed 2,000 points in three terrifying weeks. Investors had a host of things to worry about, including the possibility of another recession.
Bernanke: Job market remains weak despite gains (AP)

AP - Ben Bernanke says the job market isn't as strong as the steadily declining unemployment rate might suggest.
Report: Silicon Valley sees growth in jobs, wealth (AP)
AP - Silicon Valley is creating jobs and wealth for highly skilled workers but may be leaving some residents behind as employment closes in on pre-Great Recession levels, according to a report released Tuesday.
Bernanke urges Congress to address Bush tax cuts (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke on Tuesday warned Congress that putting off a decision on the fate of expiring Bush administration tax cuts could unsettle businesses and households, undercutting the U.S. economic recovery.
Bernanke repeats vow to shield U.S. from Europe fallout (Reuters)
Reuters - Federal Reserve Chairman Ben Bernanke on Tuesday renewed a pledge to prevent Europe's financial crisis from damaging the U.S. economy in testimony before Congress that mirrored remarks he made last week.

Europe economy

Greeks seek elusive bailout deal as EU tempers fray (Reuters)
Reuters - Greek parties will try yet again on Wednesday to strike a reform deal in return for a new international rescue to avoid a chaotic default, after a string of delays which have prompted some EU leaders to warn that the euro zone can live without Athens.
Greek debt talks drag on but banks signal progress (AP)

AP - Greece's private creditors signaled progress late Tuesday on a debt-relief deal but crucial talks between Greek coalition leaders about forcing more austerity upon a hostile public were again postponed.
Spanish banks set aside billions for toxic assets (AP)
AP - Spain's three top banks said Tuesday they will set aside an additional euro6.1 billion ($8 billion) to meet a new government demand for all banks to boost their buffers against troubled real estate assets.
UBS Q4 profit hit by fallout from trading scandal (AP)

AP - Switzerland's biggest bank, UBS AG, saw its profits slide by 76 percent in the fourth quarter, in a further sign that a $2 billion trading scandal last year has dented business at a time of economic weakness in Europe and abroad.
German industrial output down 2.9 pct in December (AP)
AP - German industrial production fell 2.9 percent in December from the month before, according to official data released Tuesday, suggesting the country's economic slowdown could be worse than expected.
Swiss central banker warns on slowing economy (AP)
AP - Switzerland's economy is expected to "slow considerably" this year and might require more central bank intervention to steady it despite the Swiss franc falling back against the euro, the Swiss National Bank's vice chairman said Tuesday.
UBS warns of poor Q1 as investment bank struggles (Reuters)
Reuters - Swiss bank UBS predicted further weakness in investment banking after a restructuring of the business failed to prevent an earnings hit from the euro zone debt crisis and worries about the global economy.
ArcelorMittal posts $1 billion loss in Q4 (AP)
AP - Steel maker ArcelorMittal was cautiously optimistic about its near-term prospects even after it reported a heavy fourth quarter loss generated by a deteriorating European economy and big tax and restructuring charges.
EU watchdog to assess bank recapitalization plans (Reuters)
Reuters - European banking regulators pore over plans this week from 31 lenders to plug a 115 billion euro ($150 billion) hole in their capital cushions and help restore investor confidence shattered by the euro zone debt crisis.