| U.S. states flirt with major tax changes Posted: 13 Jan 2013 04:04 AM PST  CHAPEL HILL, North Carolina (Reuters) - Hopes for overhauling the federal tax system are fading in Washington, but in some state capitals, tax reform experiments - some far-reaching - are fast taking shape. Across the South and Midwest, Republicans have consolidated control of state legislatures and governorships, giving them the power to test long-debated tax ideas. Louisiana Republican Governor Bobby Jindal, for instance, called on Thursday for ending the state's income tax and corporate taxes, with sales taxes compensating for lost revenue. ...
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| On debt ceiling, markets hopeful Washington has learned a lesson Posted: 13 Jan 2013 04:06 AM PST  NEW YORK (Reuters) - The U.S. government is expected to bump up against its legal borrowing limit by March, and it would be hard to fault investors for feeling edgy. The last fight over the debt ceiling led to one of the most volatile weeks in stock market history, cost the United States its top credit rating and pushed the government to the brink of default. But this time around, markets are remarkably calm, with the benchmark S&P 500 barely budging on Friday after notching a five-year closing high on Thursday. ...
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| Is WTO about to abandon dream of global free trade? Posted: 13 Jan 2013 06:17 AM PST  GENEVA (Reuters) - As it seeks a new chief to lead it out of a negotiating death-spiral, the World Trade Organization looks doomed to be fatally undermined by new global carve-ups that will leave many of the world's poorest sidelined. At its creation 18 years ago, as the "third pillar" of the post-World War Two economic system alongside the World Bank and the International Monetary Fund, tariffs fell by a third and world markets, from farm produce to finance, were opened up. A boom in commerce ensued, gathering pace when China became a member in 2001. ...
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| Sun Life, Khazanah to buy Aviva's Malaysian operations - sources Posted: 13 Jan 2013 01:36 AM PST  HONG KONG/SINGAPORE (Reuters) - Canada's Sun Life Financial and Malaysian state investor Khazanah have agreed to buy Aviva's Malaysian insurance joint venture with lender CIMB for about 1.7 billion ringgit ($563 million), sources said on Sunday. The deal will help the Canadian company expand its Asian footprint. The consortium of Sun Life Financial Inc and Khazanah Nasional Bhd edged out rival Manulife Financial Corp to win the eight-month old auction, sources familiar with the sale process said. Britain's No. ...
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| Insight: Banks come to terms with Britain's compensation industry Posted: 13 Jan 2013 02:25 AM PST  MANCHESTER, England (Reuters) - The boss of Britain's biggest retail bank struck a chord with the public when he complained of getting unsolicited calls from claims management firms promising him compensation from his own and other banks. But while people share his irritation with calls and text messages about fantastic sums from claims they have not made, more and more are turning to claims management firms to help return billions tricked or bullied from them by the banks. ...
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| Jaguar to add 800 new UK jobs: source Posted: 13 Jan 2013 06:32 AM PST  LONDON (Reuters) - Premium carmaker Jaguar Land Rover plans to create 800 new jobs at its Solihull factory in central England due to demand in China, Russia and the United States, a person familiar with the matter said on Sunday. JLR, owned by India's Tata Motors , said earlier this month that its outlook for 2013 was positive after UK vehicle sales rose almost 20 percent in 2012. The source said confirmation of the new jobs could come later on Sunday. Last week, Japanese carmaker Honda cut around 800 jobs at its plant near Swindon due to falling demand for its vehicles across mainland Europe. ...
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| JAL's grounded Dreamliner jet leaks fuel in tests Posted: 13 Jan 2013 07:19 AM PST  TOKYO (Reuters) - Japan Airlines Co (JAL) said on Sunday that a Boeing Co 787 Dreamliner jet undergoing checks in Tokyo following a fuel leak at Boston airport last week had leaked fuel during tests earlier in the day. An open valve on the aircraft caused fuel to leak from a nozzle on the left wing used to remove fuel, a company spokeswoman said. The jet is out of service after spilling about 40 gallons of fuel onto the airport taxiway in Boston due to a separate valve-related problem. ...
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| Ford takes next step of Lincoln overhaul with luxury crossover Posted: 12 Jan 2013 09:36 PM PST  DETROIT (Reuters) - Ford Motor Co will unveil this week a luxury crossover designed to help the company gain a foothold in a fast-growing and profitable segment of the U.S. luxury automotive market. At the Detroit auto show on Monday, the No. 2 U.S. automaker is unveiling a concept version of its Lincoln MKC, an entry-level luxury compact crossover that shares its underpinnings with the Ford Escape. Ford is betting that a strong showing in this burgeoning segment will reverse a two-decade sales decline for Lincoln, a brand better known for the Town Car and presidential limos. ...
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| Kia's rising star Schreyer to take charge of Hyundai group car design Posted: 12 Jan 2013 11:20 PM PST  SEOUL (Reuters) - German designer Peter Schreyer, known as the creative brain behind the Audi TT, will oversee both Kia and Hyundai's designs, the Hyundai automotive group said on Sunday, as the carmaker seeks to outdo German rivals Volkswagen and BMW. Schreyer's star is rising fast at the South Korean company, where only three weeks ago he was named a president at Kia, the first foreigner to hold the post. He was promoted from chief design officer and executive vice president at Kia. ...
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| 4 gadgets that defined Vegas electronics show Posted: 13 Jan 2013 08:11 AM PST  LAS VEGAS (AP) — The world's largest gadget show wrapped up on Friday, and the organizers said it was the biggest ever, beating last year's record in terms of the floor space companies purchased to display their wares.
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| More than 130 nations begin mercury treaty talks Posted: 13 Jan 2013 08:21 AM PST GENEVA (AP) — Delegates from more than 130 nations began a final round of negotiations on Sunday that are expected to lead to the creation of the first legally binding international treaty to reduce mercury emissions. |
| With almonds' rising revenues, land values soar Posted: 12 Jan 2013 12:39 PM PST  FRESNO, Calif. (AP) — Bill Enns, a central California real estate agent specializing in farmland, fields dozens of calls every week from potential buyers. Many want almond, pistachio or walnut orchards — or any land suitable for growing nut trees.
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| Japan Airlines reports new fuel leak in Boeing 787 Posted: 13 Jan 2013 08:02 AM PST  TOKYO (AP) — Japan Airlines has reported a fuel leak in a Boeing 787 Dreamliner for the second time in a week amid a U.S. safety review of the aircraft.
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| Victims of Costa shipwreck mark anniversary Posted: 13 Jan 2013 09:06 AM PST  GIGLIO, Italy (AP) — Survivors of the Costa Concordia shipwreck and relatives of the 32 people who died marked the first anniversary of the grounding Sunday with the unveiling of memorials to the victims, a tearful Mass in their honor and a minute of silence to recall the exact moment that the cruise ship rammed into a reef off Tuscany.
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