LONDON (Reuters) – Deserting debt-laden, recession-racked North Atlantic and Japan for the fast-growing emerging market world may have been irresistible for some investors but many others still remain timid. Why? It may be a case of “hard power” versus “soft power”. If investment decisions hinged solely on the former – measured by raw data such as economic output, population size and military spending – then convergence between rich and developing nation blocs is nigh on complete. …
Chinese fund Inventis advocates indirect route to North American energy
SINGAPORE (Reuters) – Inventis Investment Holdings (China) Ltd, one of China’s oldest private equity firms, hopes it can succeed where the country’s state-owned giants have failed in buying stakes in North American energy companies, the company’s CEO told Reuters. Bids by Chinese state firms have provoked political firestorms in the United States and Canada where lawmakers fear losing control of resources to state-run foreign firms. Notable cases include CNOOC’s failed 2005 bid for Unocal and more recently CNOOC’s $15 billion bid for Canada’s Nexen Inc . …
George Hill hits last-second shot over Howard, and Pacers withstand Kobe's 40 for 79-77 win
LOS ANGELES, Calif. – George Hill’s high-arching shot over Dwight Howard went in with 0.1 seconds left, and the Indiana Pacers withstood Kobe Bryant’s 40-point performance and the Lakers’ last-minute rally for a 79-77 victory over Los Angeles on Tuesday night.
FACTBOX-Cricket-Australia v South Africa third test
Nov 28 (Reuters) – Factbox on the third test between Australia and South Africa, which begins on Friday: – - WHERE? WACA, Perth Capacity: 20,000 (24,500 with temporary seating) – - WHEN? Nov. 30-Dec. 4. Play starts at 1030am local time (0230 GMT) – - AUSTRALIA (World ranking: third) (From) Michael Clarke (captain), Shane Watson, David Warner, Ed Cowan, Ricky Ponting, Mike Hussey, Matthew Wade, Peter Siddle, Ben Hilfenhaus, Nathan Lyon, Mitchell Starc, Josh Hastings, Josh Hazlewood, Mitchell Johnson. …
French court to rule on dropping pimping charges against ex-IMF chief who denies allegations
PARIS – Dominique Strauss-Kahn, the former IMF chief who has successfully fought a handful of accusations linked to his “libertine” lifestyle, will be learning whether charges for aggravated pimping will be dropped.
Dubai back in mega-project mood after fiscal dive
Dubai is suddenly rediscovering its old habits.
China considers easing family planning rules
BEIJING (Reuters) – China is mulling changes to its one-child policy, a former family planning official said, with government advisory bodies drafting proposals in the face of a rapidly ageing society in the world’s most populous nation. Proposed changes would allow for urban couples to have a second child, even if one of the parents is themselves not an only child, the China Daily cited Zhang Weiqing, the former head of the National Population and Family Planning Commission, as saying on Wednesday. …
The biggest struggle yet for Citi's repairman
(Reuters) – When Citigroup Inc's board of directors was looking for a chief executive in 2007, it called Michael O'Neill, who had turned around Bank of Hawaii Corp a few years before. O'Neill spoke to a Citig roup board member on the telephone, but the board was reluctant to consider O'Neill seriously because he had never run a bank of Citigroup's size or complexity, according to a person familiar with the situation. Five years later, O'Neill, 66, is effectively running Citigroup, which is more than 130 times bigger than Bank of Hawaii was last decade, as measured by assets. … Analysis: U.S. pilots vote on deals, other airline staff agitate
(Reuters) – Pilots at United Airlines and American Airlines are due to vote in coming weeks on new labor contracts that in some cases offer the first significant raises in almost a decade. The pay gains reflect better financial times at airlines, and partially offset years of concessions the pilots made as airlines went through bankruptcies and endured huge losses. But other groups of workers at U.S. airlines are not being treated as generously. … Greece, markets satisfied by EU-IMF Greek debt deal
BRUSSELS (Reuters) – The Greek government and financial markets were cheered on Tuesday by an agreement between euro zone finance ministers and the International Monetary Fund to reduce Greece's debt, paving the way for the release of urgently needed aid loans. The deal, clinched at the third attempt after weeks of wrangling, removes the biggest risk of a sovereign default in the euro zone for now, ensuring the near-bankrupt country will stay afloat at least until after a 2013 German general election. … In communist Cuba, the tax man cometh
HAVANA (Reuters) – Most Cubans have not paid taxes for half a century, but that will change under a new code starting January 1. The landmark regulations will change the relations of Cubans with their government and are a signal that market-oriented reforms, launched since President Raul Castro succeeded his brother, Fidel Castro, in 2008, are here to stay. The recently published code constitutes the first comprehensive taxation in Cuba since the 1959 revolution abolished just about all taxes. …
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