Housing Starts in U.S. Probably Slumped to Record Low as Credit Dried Up American builders probably broke ground in December on the fewest houses on record as sales and credit dried up, economists said before reports this week.
Russia, Ukraine Gas Agreement to Be Judged When Shipments Resume, EU Says The European Union gave a cautious welcome to a deal thrashed out between Russia and Ukraine earlier today that may pave the way for the resumption of natural-gas flows to the continent after almost two weeks.
Gulf Corporate Bonds May Return 20% as Default Risk Falls, Mashreq Says Persian Gulf-based companies’ debt may rally this year, with some bonds returning as much as 20 percent, as the risk of default recedes and credit markets re-open, Mashreq Capital DIFC Ltd. said.
Obama Bank Rescue May See Cash Injections, Attempt to Resolve Toxic Assets President-elect Barack Obama is likely to back a financial-rescue effort that channels capital to banks and deals with troubled assets clogging balance sheets, according to people familiar with the matter.
Florida Hedge-Fund Manager Drops Out of Sight; FBI, SEC Join Investigation The FBI and securities regulators joined the investigation of Arthur Nadel, the Florida hedge-fund manager who disappeared four days ago, leaving clients concerned they may have lost hundreds of millions of dollars.
Satyam Seeks Emergency Bank Funds, New Management Amid Fraud Investigation Satyam Computer Services Ltd., under investigation for fraud, is in talks with banks to overcome a cash crunch that may leave the software maker without enough money to pay salaries and utility bills.
Mobius Plans to Raise Investment in China, India, Other Emerging Markets Mark Mobius, who oversees about $26 billion in emerging-market stocks at Templeton Asset Management Ltd., said he plans to buy more shares of consumer and commodities companies in emerging markets.
India's Singh Predicts `Difficult' Year Ahead, Signals More Policy Steps India’s Prime Minister Manmohan Singh said the fiscal year starting April 1 will be “difficult” and signaled policy makers may add to interest- rate and tax cuts to bolster the slowing economy.
Westinghouse, Larsen & Toubro to Make Nuclear-Power Equipment in India Toshiba Corp.’s Westinghouse Electric Co. said it will tie up with Larsen & Toubro Ltd. to build equipment for nuclear power plants in India, aiming to tap demand after the government signed international atomic-energy accords.
Bonds Complete Best Week in a Month on Inflation, Interest-Rate Outlook India’s bonds completed their best week in a month on speculation the central bank will further cut interest rates as economic growth and inflation slow.
Rupee Gains on Speculation Exporters, Local Banks Trimmed Dollar Holdings India’s rupee strengthened on speculation some exporters converted overseas earnings after the local currency dropped yesterday to a one-week low.
Tata Consultancy Says Citigroup Contract Intact After Smith Barney Sale Tata Consultancy Services Ltd., India’s largest software-services provider, said its $2.5 billion contract with Citigroup Inc. remains in place after the bank sold control of its Smith Barney brokerage.
Asian Stocks Rise, Pare Weekly Loss, on Weaker Yen, China Stimulus Report Asian stocks rose, paring the benchmark index’s steepest weekly loss in two months, as the weaker yen boosted Japan’s electronics and auto makers and speculation grew China will pass another stimulus package.
source: Bloomberg
