Japan factory output increases

Japan’s industrial output increased the most in seven months in December as manufacturers made up for disruptions caused by Thailand’s worst floods in 70 years. Factory production rose 4 percent from November, when production slid because of supply disruptions, the trade ministry said in Tokyo Tuesday. The median estimate of 30 economists surveyed by Bloomberg News was for a 3 percent gain. Manufacturers from Honda Motor Co. to Toyota Motor Corp. are optimistic about demand as they recover from

Jan. 31, 2012

Fed: U.S. banks tighten lending to Europe banks

WASHINGTON (AP) ― A Federal Reserve survey has found that more than half of U.S. banks that lend to European banks have tightened their standards, a reflection of the persistent European debt crisis.Of the 26 U.S. banks surveyed that make loans to European banks, five said they had tightened their standards considerably in the October-December quarter. Another 10 said that they had tightened them somewhat in the same period, according to the survey released Monday.Many economists predict that Eu

Jan. 31, 2012

Italy ‘optimistic’ bailout fund will grow in size: Monti

BRUSSELS (AFP) ― Italian Premier Mario Monti said Monday he was confident the EU’s permanent bailout fund would grow in size with fresh funds, seeing a softening in German opposition.“We are getting the feeling that there is a shift in Germany’s position and I am optimistic,” he told reporters after an EU summit here.“It is important that the capacity of this fund is changed,” he said, although he added that “Italy would not need these funds.”The bailout fund, or European Stability Mechanism agr

Jan. 31, 2012

25 EU nations to sign treaty to stop overspending

BRUSSELS (AP) _ All European Union countries except Britain and the Czech Republic agreed Monday to sign a new treaty designed to stop overspending in the eurozone and put an end to the bloc's crippling debt crisis, while EU leaders also pledged to stimulate growth and employment.The new treaty, kno

Jan. 31, 2012

Canon president steps down as forecast misses

Canon Inc. said its president will step down after the world’s largest camera maker forecast profit will increase by less than 1 percent for a second straight year. President and Chief Operating Officer Tsuneji Uchida, 70, will leave the posts effective March 29 and be replaced by Chairman Fujio Mitarai, 76, the Tokyo-based company said in a statement. Uchida, who will become an adviser, offered to resign as Canon plans to introduce a younger management team, Chief Financial Officer Toshizo Tana

Jan. 30, 2012

Five buyers for bankrupt Saab: administrators

STOCKHOLM (AFP) ― Up to five companies are keen to buy Saab, one of the bankrupt Swedish carmaker’s three administrators said Sunday.“I can’t comment on who we are in discussions with, but we are conducting dialogues with four to five interested parties who we consider are seriously interested,” Hans Bergqvist told the TT news agency.He said the aim was to sell all of Saab, which filed for bankruptcy on Dec. 19, to a single buyer.“That is our main tack (since) we ... will get the most value,” he

Jan. 30, 2012

Iran bill to ban oil sales to EU postponed

 Iran's parliament has postponed a vote on a bill requiring the government to immediately halt crude oil sales to Europe, an Iranian lawmaker said Sunday.File photo taken on Jan. 13, 2012 shows a view of Abadan refinery, the largest one in Iran, in southwestern Iranian city of Abadan. Iran's Oi

Jan. 30, 2012

Facebook IPO could value it among top companies

LOS ANGELES (AP) ― When Facebook makes its long-expected debut as a public company this spring, the social-networking company will likely vault into the ranks of the largest public companies in the world, alongside McDonald’s, Amazon.com and Bank of America. The Wall Street Journal reported Friday that Facebook is preparing to file initial paperwork for an offering that could raise as much as $10 billion and value the company at $75 billion to $100 billion. The filing with the Securities and Exc

Jan. 29, 2012

Twitter’s censorship plan rouses global furor

Company to block dissenting tweets in specific countriesNEW YORK (AP) ― Twitter, a tool of choice for dissidents and activists around the world, found itself the target of global outrage Friday after unveiling plans to allow country-specific censorship of tweets that might break local laws.It was a stunning role reversal for a youthful company that prides itself in promoting unfettered expression, 140 characters at a time. Twitter insisted its commitment to free speech remains firm, and sought t

Jan. 29, 2012

Roubini warns of tough times ahead

DAVOS, Switzerland (AP) ― Economist Nouriel Roubini, nicknamed “Dr. Doom” for his gloomy predictions in the run-up to the financial meltdown four years ago, says the fallout from that crisis could last the rest of this decade.Roubini, widely acknowledged to have predicted the crash of 2008, sees tough times ahead for the global economy and is warning that without major policy changes things can still get much worse.Until Europe radically reforms itself and the U.S. gets serious about its own deb

Jan. 29, 2012

Davos looks to China’s investments abroad

DAVOS, Switzerland (AP) ― Chinese investment abroad is drawing scrutiny as global leaders increasingly look to China to prop up the world economy, even though some remain wary of the country’s dominance.The head of one of China’s biggest private equity firms said at the World Economic Forum on Thursday that foreign prejudice about Chinese investment is unfair and that Chinese investors are still learning a game that much of the world has been playing for decades.With China’s “state capitalism” b

Jan. 27, 2012