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Business with Reuters - International Herald Tribune
Business news from The International Herald Tribune, the world's daily newspaper online.
- Data suggest more pain to come in Asia
A collapse in business confidence in Japan and a sharp slowdown in industrial production growth in China were both reported Monday. - Prolonged crisis a danger without fast stimulus, IMF warns
The global economy could fall into prolonged crisis, spreading social unrest unless governments quickly implement promised stimulus packages, the IMF's managing director, Dominique Strauss-Kahn, said. - Japan hopes to revive economy with more stimulus
The prime minister of Japan announced an emergency stimulus package Friday to jolt the economy by spending trillions of yen to create new jobs, increase business loans and help laid-off workers. - The 17th floor, where wealth went to vanish
As the list of victims grew and as investigators pored over the records, questions grew about how Bernard Madoff maintained the appearance that his investment fund was successful. - From Paris to Tokyo, more Madoff victims emerge
Bernard Madoff's scam that allegedly cost investors $50 billion ensnared firms stretching from Paris to Tokyo to Madrid. - Factbox: Who was exposed to Madoff?
Investors around the world have scrambled since Friday to assess potential losses from an alleged $50 billion fraud by Bernard Madoff. - Siemens shares rise on proposed U.S. settlement
The engineering company rose Monday after U.S. authorities proposed a lower-than-expected fine of $800 million to settle a bribery case. - Electrolux to shed 3,000 jobs
The Swedish company said in a statement that demand for appliances in Europe and North America had declined considerably in the two last weeks of November and so far in December. - With rates falling, Fed seeks new tools to fight recession
U.S. policy makers are expected this week to lower their target for the overnight federal funds rate to 0.5 percent, a record low. The Fed will then have to resort to mostly untested tools for promoting growth. - U.S. states coming up short on unemployment benefits
With unemployment claims reaching their highest levels in decades, some states are turning to the federal government for loans or increasing taxes on businesses to make the payments. - Fannie Mae acts to protect renters from eviction
The decision - to sign new leases with renters living in foreclosed properties owned by the company - draws the U.S. government even deeper into the housing market. - Markets advance in Europe and Asia
Stocks rose Monday in Europe and Asia amid hopes that the U.S. government would go ahead with a bailout of Detroit's troubled automakers. - U.K. bank rescue plan, a model for others, is in trouble
Prime Minister Gordon Brown's plan is in trouble at the moment because the banks are resisting pressure to lend more as they seek to protect themselves in the harsh economic climate. - Investors in Fortis demand a new deal
Shareholders of Fortis want a better deal than the one offered by BNP Paribas, after a Brussels court backed their demand that the transaction be suspended to allow for a review. - Irish banks rise on government support plan
Shares in Ireland's four publicly quoted banks rose Monday after the Irish government unveiled plans to invest up to €10 billion in them to restore international confidence in their financial strength. - Goldman is expected to report an end to profitable run
One of Wall Street's top firms is expected to post a loss this week, and some wonder if it can ever recapture its former glory. - Direct flights between China and Taiwan begin
The 80 minute flight across the Taiwan Strait marked another dramatic step in the improvement of relations between the two rivals. - Merger talks in the forecast for U.S. airlines
International carriers are expected to consolidate significantly in the coming year, putting pressure on their U.S. rivals to do the same. - After its big cuts, Detroit makes lots of small ones
As sales continue to plummet, the Big Three automakers are scrutinizing every budget line for potential savings to save cash. - Upstaging Obama on climate change
The European Union's green deal must be bigger, bolder and more ambitious to avoid being dwarfed when President-elect Barack Obama announces his own clean energy program. - Talks set path for new UN global climate treaty
United Nations climate talks concluded here Friday, having seemingly achieved their modest goals: setting the world on track to a new UN global climate treaty, possibly by the end of next year, with a renewed sense of purpose.
- Publicis CEO takes long view in economic downturn
The economic downturn will take a toll, but the chief executive remains bullish on his company. - OPEC leader seeks to restore cartel's clout
Chakib Khelil of Algeria, a former World Bank energy specialist, has won plaudits as the oil cartel's president in a difficult year. - Asia keeps tight rein on fuel prices
The crash in oil prices this year prompted governments across Asia to cut heavily subsidized fuel prices, but the region is not yet moving toward a free market in energy. - German leaders meet on financial crisis
Chancellor Angela Merkel conferred with government ministers, business executives and labor leaders Sunday to seek a consensus on how to address the dismal economic situation. - EU leaders drastically weaken their emission ambition
They said the accord, which offers a swathe of concessions to polluting companies and countries, would not jeopardize their overall target of reducing planet-warming emissions by 20 percent by 2020. - Private equity battle ends with $1 billion accord between Huntsman and Apollo
Huntsman, a chemical company, has settled a fight with Apollo Global Management, a private equity company, and its Hexion Specialty Chemicals unit, for a little over $1 billion. - Buyer of New Star could get a good deal
New Star Asset Management could find a buyer for its business even before investors vote on a debt-for-equity swap that would give its banks control the troubled fund manager. - Data suggest more pain to come in Asia
A collapse in business confidence in Japan and a sharp slowdown in industrial production growth in China were both reported Monday. - Prolonged crisis a danger without fast stimulus, IMF warns
The global economy could fall into prolonged crisis, spreading social unrest unless governments quickly implement promised stimulus packages, the IMF's managing director, Dominique Strauss-Kahn, said. - Japan hopes to revive economy with more stimulus
The prime minister of Japan announced an emergency stimulus package Friday to jolt the economy by spending trillions of yen to create new jobs, increase business loans and help laid-off workers.