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• Wall Street Week Ahead: A nice rally while it lasted
• Jobs rut tips scales in favor of Fed stimulus
• Glencore set to detail $36 billion Xstrata bid: sources
• IMF backs Draghi; says Spain, Italy have done enough
• Euro zone enters dangerous week buoyed by ECB
• China's Alibaba to pass Amazon, eBay in transaction value: executive
• China factory growth slips, government spending eyed
• China signs investment pacts with Canada, Chile
• Virgin Atlantic CEO Ridgway to step down
• Munich Re eyes flat reinsurance prices, economy risk
• Testosterone marketing frenzy draws skepticism
• China factory output weakest in 3 years in August
• APEC vows to fend off euro woes, boost finances
• Russia, Japan agree to move ahead on LNG project
• Congress returns for short pre-election session
• German euro bailout opponent files new court suit
• Romney says he likes parts of 'Obamacare'
• Sierra Leone takes 10 Iranian ships off register
• Hiring slows in August, putting pressure on Fed
• Russia seeks to close infrastructure gap with Asia
• German euro bailout opponent files new court suit
• Former UBS trader faces trial over $2.3 billion losses
• Irish central bank chief "confident" on banks deal
• Factbox: Glencore and Xstrata
• Glencore set to detail $36 billion Xstrata bid: sources
• German lawmaker makes new court complaint against euro measures
• China factory growth slips, government spending eyed
• China rolls out new $2.2 billion subsidy scheme: Xinhua
• Virgin Atlantic CEO Ridgway to step down
• EU says may be regional fund help for Italian steel plant
• Testosterone marketing frenzy draws skepticism
• Wall St withstands jobs disappointment; focus on Fed
• Italy's Monti says would not accept extra aid conditions
• EU watchdog to be strengthened in banking union: document
• Congress returns for short pre-election session
• Romney says he likes parts of 'Obamacare'
• Iran's currency falls to record low against dollar
• Romney says he won't repeal all of Obamacare
• Rial falls sharply as West looks to push Iran's isolation
• Germany must not be isolated: ECB's Nowotny

Wall Street Week Ahead: A nice rally while it lasted Posted: 07 Sep 2012 04:37 PM PDT NEW YORK (Reuters) - At the start of the historically weakest month for equities there are plenty of reasons to believe stocks may be just about reaching a top - at least in the short term. The S&P 500 has surged 14 percent this year and is at its highest level in more than 4 years. Not counting 2009 when equities rebounded from their crisis lows, this could be the best year for stocks since 2003 - nearly a decade. ...

Jobs rut tips scales in favor of Fed stimulus Posted: 09 Sep 2012 05:05 AM PDT WASHINGTON (Reuters) - The Federal Reserve looks set to launch a third round of bond purchases this week to try to drive borrowing costs lower and breathe more life into an economy that is not growing fast enough to lower unemployment. Despite political opposition and some internal dissent, economists said a weak report on jobs growth for August was likely enough to convince the U.S. central bank a looser monetary policy was needed. "The Federal Reserve will ease again," said Sung Won Sohn, an economics professor at California State University Channel Islands in Camarillo, California. ...

Glencore set to detail $36 billion Xstrata bid: sources Posted: 09 Sep 2012 09:07 AM PDT LONDON/DUBAI (Reuters) - Trader Glencore, hammering out a revised $36 billion bid for miner Xstrata in intense weekend negotiations, is set to detail its new offer to the market as early as Monday, days after proposing 11th-hour changes to save the deal. Sources familiar with the deal said commodities trader Glencore, keen to clarify its own position but also under pressure from Xstrata and UK regulators, would publish details of the higher offer early next week. Two sources said the new, firm, offer was expected on Monday. ...

IMF backs Draghi; says Spain, Italy have done enough Posted: 09 Sep 2012 01:57 AM PDT VLADIVOSTOK, Russia (Reuters) - The International Monetary Fund on Sunday strongly backed the European Central Bank's plan to staunch the euro zone debt crisis with unlimited bond purchases, saying it was ready to get involved in designing and monitoring its implementation. IMF Managing Director Christine Lagarde also said large, debt-strapped euro zone countries Spain and Italy had taken enough action to repair their finances to merit aid from the rest of the European currency union. ...

Euro zone enters dangerous week buoyed by ECB Posted: 09 Sep 2012 02:58 AM PDT PARIS (Reuters) - The euro zone enters a dangerous week, strewn with potential landmines, in a somewhat more optimistic mood after investors welcomed a European Central Bank plan to prevent a breakup of the single currency. German judges, Dutch voters, IMF inspectors and Brussels regulators could all spring surprises that make it harder to resolve a sovereign debt crisis which is almost three years old and weighing on the world economy. Wednesday is the main day to watch. ...

China's Alibaba to pass Amazon, eBay in transaction value: executive Posted: 07 Sep 2012 09:21 PM PDT HANGZHOU, China (Reuters) - China's largest e-commerce firm, Alibaba Group, expects to sell merchandise this year worth more than that sold by Amazon Inc and eBay combined, Alibaba's chief strategy officer said on Saturday. The company is aiming for 3 trillion yuan ($473 billion) in annual transaction value from its Taobao e-commerce units in the next 5 to 7 years, Zeng Ming told reporters. Alibaba's founder, Jack Ma, said last year that Taobao's transaction value for 2012 would reach 1 trillion yuan. ...

China factory growth slips, government spending eyed Posted: 09 Sep 2012 08:29 AM PDT BEIJING (Reuters) - China's factories ran at their slowest rate for 39 months in August while a double-digit rise in fixed asset investment showed that infrastructure spending remained key to economic growth. Industrial output growth slowed to 8.9 percent year on year, the weakest since May 2009 and below market forecasts of a 9.1 percent rise, data from China's National Bureau of Statistics (NBS) showed on Sunday. Fixed asset investment, which accounted for half of China's net economic growth in the first-half of 2012, grew 20. ...

China signs investment pacts with Canada, Chile Posted: 09 Sep 2012 03:03 AM PDT BEIJING (Reuters) - China and Canada signed an investment pact which will help build a strategic partnership between the two nations, the Chinese Ministry of Commerce said on Sunday. The treaty, inked after 18 years of negotiations, contains the widest range of investment agreements China has ever signed with any country, the ministry said, without giving details. "It will have a positive impact in promoting mutual investment by companies from our two countries and deepening trade cooperation between China and Canada," it added in a statement on its website, www.mofcom.gov.cn. ...

Virgin Atlantic CEO Ridgway to step down Posted: 09 Sep 2012 08:22 AM PDT LONDON (Reuters) - The chief executive of Virgin Atlantic , the airline founded by entrepreneur Richard Branson, is to leave next year, the firm said on Sunday. Steve Ridgway, a friend of Branson's who joined the airline in 1989 and who has been CEO since 2001, will retire from the firm next spring and will lead the search for his successor, the firm said in a statement. ...

Munich Re eyes flat reinsurance prices, economy risk Posted: 09 Sep 2012 05:40 AM PDT MONACO (Reuters) - Munich Re expects reinsurance prices and conditions will be largely stable when it renews billions of euros worth of contracts with its insurance company clients at the start of 2013, though economic risks complicate the outlook. The world's biggest reinsurer said in a statement on Sunday that there is "sufficient capacity" in the market for now, a view that chimes with industry observers who predict the supply of reinsurance will exceed demand in the coming months, capping reinsurers' room to raise prices. ...

Testosterone marketing frenzy draws skepticism Posted: 09 Sep 2012 07:54 AM PDT "Are you falling asleep after dinner?"

China factory output weakest in 3 years in August Posted: 09 Sep 2012 12:52 AM PDT Growth in China's factory production slowed to a three-year low in August, suggesting Beijing might need to launch more stimulus efforts to reverse a painful slowdown in the world's second-largest economy.

APEC vows to fend off euro woes, boost finances Posted: 09 Sep 2012 12:17 AM PDT Pacific Rim leaders pledged Sunday to fend off the deepening damage from the European crisis and revive flagging growth in the region by supporting open trade, reforming their economies and strengthening public finances.

Russia, Japan agree to move ahead on LNG project Posted: 08 Sep 2012 06:56 PM PDT Russia and Japan are putting energy cooperation ahead of a longstanding territorial dispute as they move ahead with a long-awaited liquefied natural gas project in this far eastern seaport.

Congress returns for short pre-election session Posted: 09 Sep 2012 06:32 AM PDT Fresh off a five-week vacation, lawmakers return to Washington on Monday for a truncated pre-election session in which Congress will do what it often does best: punt problems to the future.

German euro bailout opponent files new court suit Posted: 09 Sep 2012 09:17 AM PDT An opponent of the eurozone's permanent rescue fund said Sunday that he has filed a new complaint to Germany's highest court after the European Central Bank unveiled a program to buy government bonds.

Romney says he likes parts of 'Obamacare' Posted: 09 Sep 2012 06:30 AM PDT Republican presidential hopeful Mitt Romney, who promised early in his campaign to repeal President Barack Obama's health care overhaul, says he would keep several important parts of the overhaul.

Sierra Leone takes 10 Iranian ships off register Posted: 09 Sep 2012 05:23 AM PDT Sierra Leone has removed the registration of 10 ships suspected to be Iranian.

Hiring slows in August, putting pressure on Fed Posted: 07 Sep 2012 04:24 PM PDT American employers cut back sharply on hiring last month, crushing hopes that the job market was improving and putting more pressure on the Federal Reserve to give the sluggish economy another jolt.

Russia seeks to close infrastructure gap with Asia Posted: 07 Sep 2012 10:50 PM PDT Russia's failure to keep up with its neighbors in building the roads, railways and other infrastructure needed to support growth is costing it dearly, and hindering the regional economy's full potential, business leaders gathered for an Asia-Pacific summit say.

German euro bailout opponent files new court suit Posted: 09 Sep 2012 09:17 AM PDT An opponent of the eurozone's permanent rescue fund said Sunday that he has filed a new complaint to Germany's highest court after the European Central Bank unveiled a program to buy government bonds.

Former UBS trader faces trial over $2.3 billion losses Posted: 09 Sep 2012 09:17 AM PDT LONDON (Reuters) - A former UBS trader goes on trial in London this week in a case involving losses of $2.3 billion that will subject the Swiss bank to an "uncomfortable" examination of its culture and practices. Investment banker Kweku Adoboli, who was arrested a year ago when the huge losses came to light, has pleaded not guilty to two charges of fraud and two of false accounting related to disastrous trades that UBS says were unauthorized. The episode marked a serious setback for UBS while it was trying to recover from near collapse during the financial crisis in 2008. ...

Irish central bank chief "confident" on banks deal Posted: 09 Sep 2012 09:12 AM PDT DUBLIN (Reuters) - Ireland's central bank governor is confident that the country will get a deal in the euro zone on easing the terms of its bank debt, it is just a question of what it looks like, he said on Sunday. Euro zone leaders agreed at their summit in June to look at improving Ireland's bank rescue package and EU Economic and Monetary Affairs Commissioner Olli Rehn set a deadline of October to reach a decision on the matter. ...

Factbox: Glencore and Xstrata Posted: 09 Sep 2012 09:07 AM PDT (Reuters) - Glencore has raised its bid for miner Xstrata in an 11th-hour effort to rescue one of the sector's largest ever deals from collapse after opposition from rival shareholder Qatar. Here is a look at Glencore, the world's largest diversified commodities trader, and Xstrata. * THE DEAL: The revised proposal from Glencore, which already owns 34 percent of Xstrata, is for 3.05 Glencore shares for every Xstrata share held. At current prices, that is worth around $36 billion, making it the biggest takeover deal in the industry since Rio Tinto's acquisition of Alcan. ...

Glencore set to detail $36 billion Xstrata bid: sources Posted: 09 Sep 2012 09:07 AM PDT LONDON/DUBAI (Reuters) - Trader Glencore, hammering out a revised $36 billion bid for miner Xstrata in intense weekend negotiations, is set to detail its new offer to the market as early as Monday, days after proposing 11th-hour changes to save the deal. Sources familiar with the deal said commodities trader Glencore, keen to clarify its own position but also under pressure from Xstrata and UK regulators, would publish details of the higher offer early next week. Two sources said the new, firm, offer was expected on Monday. ...

German lawmaker makes new court complaint against euro measures Posted: 09 Sep 2012 08:58 AM PDT BERLIN (Reuters) - A lawmaker from Angela Merkel's conservatives has lodged a new complaint with Germany's top court over euro zone bailouts, but legal experts and MPs say this is unlikely to prevent the court from making a key ruling on the bloc's rescue fund this week. Germany's constitutional court holds the fate of the euro in its hands when it rules on Wednesday on whether the European Stability Mechanism (ESM) can go ahead, after already holding it up for several months. ...

China factory growth slips, government spending eyed Posted: 09 Sep 2012 08:29 AM PDT BEIJING (Reuters) - China's factories ran at their slowest rate for 39 months in August while a double-digit rise in fixed asset investment showed that infrastructure spending remained key to economic growth. Industrial output growth slowed to 8.9 percent year on year, the weakest since May 2009 and below market forecasts of a 9.1 percent rise, data from China's National Bureau of Statistics (NBS) showed on Sunday. Fixed asset investment, which accounted for half of China's net economic growth in the first-half of 2012, grew 20. ...

China rolls out new $2.2 billion subsidy scheme: Xinhua Posted: 09 Sep 2012 08:29 AM PDT BEIJING (Reuters) - China will provide subsidies worth $2.2 billion to buyers of energy-efficient computers and air-conditioners in the latest effort to stimulate domestic demand and encourage the use of environmentally friendly technology, Xinhua reported on Sunday. The one-year subsidy program will cover purchases of desktop computers, air-conditioners, fans, water pumps, compressors and transformers, Xinhua said, quoting sources at China's Ministry of Finance. It is expected to raise the market share of the energy-saving products to more than 40 percent. ...

Virgin Atlantic CEO Ridgway to step down Posted: 09 Sep 2012 08:22 AM PDT LONDON (Reuters) - The chief executive of Virgin Atlantic , the airline founded by entrepreneur Richard Branson, is to leave next year, the firm said on Sunday. Steve Ridgway, a friend of Branson's who joined the airline in 1989 and who has been CEO since 2001, will retire from the firm next spring and will lead the search for his successor, the firm said in a statement. ...

EU says may be regional fund help for Italian steel plant Posted: 09 Sep 2012 08:03 AM PDT CERNOBBIO (Reuters) - The European Commission is prepared to play its part in trying to save the giant ILVA steel mill in the southern Italian city of Taranto, with financial support potentially available through the EU regional fund, Industry Commissioner Antonio Tajani said. "We are ready to do whatever we can. We are committed to keeping the steel industry in Europe," Tajani told Reuters at the margins of a conference in northern Italy at the weekend. ...

Testosterone marketing frenzy draws skepticism Posted: 09 Sep 2012 07:54 AM PDT "Are you falling asleep after dinner?"

Wall St withstands jobs disappointment; focus on Fed Posted: 09 Sep 2012 07:40 AM PDT NEW YORK (Reuters) - U.S. stocks held steady at four-year highs o n F riday, closing out their best week since June as a sharply disappointing jobs report only fueled expectations that the Federal Reserve would act to stimulate the economy next week. The S&P closed higher but strength in both the Dow and Nasdaq was limited by blue-chips Intel and Kraft, both of which warned on their profit outlooks. The August nonfarm payrolls report showed job growth of only 96,000, well under the 125,000 expected. ...

Italy's Monti says would not accept extra aid conditions Posted: 09 Sep 2012 07:34 AM PDT CERNOBBIO, Italy (Reuters) - Italy would not accept additional conditions being attached to any support from the ECB's bond-buying program beyond the economic policy guidelines it has already agreed with its European partners, Prime Minister Mario Monti said on Sunday, according to his spokeswoman. In remarks to a closed-door conference in northern Italy, Monti said the country-specific recommendations approved by the European Council in June already covered what a member state would have to do to receive help to control its borrowing costs, without asking for a full-scale bailout. ...

EU watchdog to be strengthened in banking union: document Posted: 09 Sep 2012 06:46 AM PDT LONDON (Reuters) - The European Union's banking watchdog will have new powers to overrule the European Central Bank when the bloc's single market is threatened, a document obtained by Reuters showed. European Commission President Jose Manuel Barroso on Wednesday will present a blueprint for a euro zone banking union with the European Central Bank (ECB) as the main supervisor for the currency area's 6,000 banks. It is part of wider EU efforts to tackle a destabilizing debt crisis that has weakened lenders. ...

Congress returns for short pre-election session Posted: 09 Sep 2012 06:32 AM PDT Fresh off a five-week vacation, lawmakers return to Washington on Monday for a truncated pre-election session in which Congress will do what it often does best: punt problems to the future.

Romney says he likes parts of 'Obamacare' Posted: 09 Sep 2012 06:30 AM PDT Republican presidential hopeful Mitt Romney, who promised early in his campaign to repeal President Barack Obama's health care overhaul, says he would keep several important parts of the overhaul.

Iran's currency falls to record low against dollar Posted: 09 Sep 2012 06:17 AM PDT Iran's currency hit a record low against the U.S. dollar in street trading, the semiofficial Mehr news agency reported Sunday.

Romney says he won't repeal all of Obamacare Posted: 09 Sep 2012 06:04 AM PDT Mitt Romney says his pledge to repeal President Barack Obama's health law doesn't mean that young adults and those with medical conditions would no longer be guaranteed health care.

Rial falls sharply as West looks to push Iran's isolation Posted: 09 Sep 2012 05:52 AM PDT DUBAI (Reuters) - Iran's currency, the rial, plunged to an all-time low on Sunday, exchange traders said, as Western nations sought to further isolate the country economically and diplomatically. The rial's latest slump coincides with Canada's unexpected decision to sever ties with Iran and talks among European Union member states about introducing further embargoes against Iran. ...

Germany must not be isolated: ECB's Nowotny Posted: 09 Sep 2012 05:45 AM PDT VIENNA (Reuters) - A split between the Bundesbank and the rest of the European Central Bank's decisionmakers must not become permanent, Austrian ECB policymaker Ewald Nowotny said after the German central bank chief was the sole dissenting voice in last week's vote by the ECB's governing council to buy state bonds. Nowotny told Austrian ORF radio that the Bundesbank's chief Jens Weidmann had taken part "very constructively" in discussions at last Thursday's meeting, when the ECB decided it could buy potentially unlimited quantities of bonds from euro zone countries requesting a bailout. ...

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