IBT Staff Reporter

110401-110430 (out of 154953)

BOJ offers more liquidity; government backs off

The Bank of Japan offered banks more short-term funds after an emergency meeting on Tuesday, winning an immediate reprieve from government pressure to help avert recession before upper house polls next year.

Euro zone unemployment stable at 9.8 pct in Oct

Euro zone unemployment remained stable at an 11-year high in October but September jobless numbers were higher than previously reported, showing the labour market has yet to feel the effects of nascent economic recovery.

Gold hits record near $1,200/oz as dollar slips

Gold hit record highs at $1,198.70 an ounce in Europe on Tuesday as the dollar weakened against a basket of currencies in the wake of policy comments from the Bank of Japan, adding to strong investment demand for the metal.

Equities rebound as Dubai fears wane

Worries about Dubai's debt slipped away on financial markets on Tuesday, allowing stocks to put in solid gains and weakening low-yield assets such as the dollar.

Wall St set for higher open; ISM data awaited

U.S. stock index futures pointed to a higher open for equities, with investors waiting for a slew of economic data, including U.S. ISM figures for November and pending home sales numbers.

Yen slides as BOJ meets, Asia stocks edge higher

The yen tumbled on Tuesday after the Bank of Japan called an emergency policy review to discuss ways to boost the ailing economy, but it regained some ground after the meeting when the central bank did not go as far as some investors had expected.

Jackson bumps Spears from atop Yahoo '09 searches

Michael Jackson's death thrust the singer to the top of yahoo.com Internet searches in 2009, putting an end to Britney Spears' four-year reign and helping bump the President Barack Obama from the top 10 list.

Dubai debt plan fails to calm Gulf markets

Gulf markets tumbled again on Tuesday, taking no comfort from Dubai World's plan to restructure about $26 billion of its estimated $59 billion in liabilities, which appeared to calm global fears of contagion.

Arrest imminent in Florida Ponzi case: report

A disbarred Florida lawyer accused by the FBI of running a $1 billion investment scam is expected to be arrested Tuesday on racketeering conspiracy charges, The Miami Herald reported.

Oil steadies above $77, market seeks fresh cues

Oil steadied at above $77 a barrel on Tuesday, after a rebound of 1.6 percent in the previous session, as Dubai debt default fears eased and investors cast about for fresh clues to the pace of global economic recovery.

Geely taps China banks to back Volvo deal -sources

Geely, the Chinese carmaker tagged as the preferred bidder for Ford Motor's Volvo unit, is seeking at least $1 billion in loans from Chinese banks to finance its $1.8 billion bid, sources said on Tuesday.

GE, Vivendi agree to value NBCU stake at $5.8 billion

General Electric Co and Vivendi SA have agreed in principle to a deal in which GE would buy the French company's 20-percent stake in NBC Universal for $5.8 billion, a source familiar with the matter said on Monday, paving the way for Comcast Corp's proposed joint venture with GE.

Treasury sets guidance to simplify short sales

The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed short sales of homes and other loan modification alternatives to stem a rising tide of foreclosures.

SEC watchdog eyes insider trading probe

The internal watchdog for the U.S. Securities and Exchange Commission is probing whether enforcement staff committed acts of negligence in conducting an insider trading investigation.

Dollar falls for 5th month in row as Dubai woes ease

The dollar fell broadly on Monday after a pledge to support Dubai's banks eased investors' concerns about the Arab emirate's debt problems, wiping out a safety bid for the greenback and driving it down against a currency basket for a fifth straight month.

Tiger Woods withdraws from tournament, not talking

Tiger Woods pulled out of a golf tournament this week, the latest fall-out from a minor car accident that has left a swirl of mystery and a hint of scandal around the world's top golfer and pushed him into full damage control.

Disney reviewing options on Oprah replacement

ABC television can wait 12 to 15 months before it decides how to fill the gap left by daytime TV queen Oprah Winfrey, who plans to end her talk show in 2011, said Disney/ABC Television Group president Anne Sweeney.

IT Month 2009 boosts 20 pct of sales in Talpei

Taiwan's Information Technology (IT) Month 2009, one of its biggest computer and IT products trade shows, has generated sales on the first two days that were up 20 percent year on year, according to the Taipei Computer Association (TCA), the organizer of the event.

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