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Stock futures drop on Greece fears, healthcare approval

Reuters: Business News — Mon, 22 Mar 2010 11:57:59 +0000

NEW YORK (Reuters) - Stock index futures fell on Monday as the passage of sweeping healthcare reform and uncertainty over Greece’s debt crisis revived investor risk aversion.

Arrow bows to $3.1 billion bid from Shell, Petrochina

Reuters: Business News — Mon, 22 Mar 2010 07:52:53 +0000

MELBOURNE (Reuters) - Arrow Energy Ltd agreed to sell its Australian coal-seam gas assets to Royal Dutch Shell and PetroChina for a sweetened $3.1 billion, giving resource-hungry China its first bite of Australia’s burgeoning coal-seam gas industry.

Trial of four Rio Tinto employees opens in China

Reuters: Business News — Mon, 22 Mar 2010 03:17:13 +0000

SHANGHAI (Reuters) - Four employees of mining giant Rio Tinto stood trial in China on Monday, in a case closely watched by foreign investors nervous about navigating a booming economy with often murky legal boundaries.

Yuan in global FX reserves as soon as 2025: c.banker poll

Reuters: Business News — Mon, 22 Mar 2010 00:05:32 +0000

LONDON (Reuters) - China’s yuan could become a reserve currency accounting for at least five percent of global foreign-exchange reserves as early as 2025, central bankers said in an annual global survey.

Greenberg sells AIG stock to UBS for $278 million

Reuters: Business News — Sun, 21 Mar 2010 21:50:04 +0000

NEW YORK (Reuters) - The former chief executive of American International Group Inc, Maurice “Hank” Greenberg, reached a deal to sell most of the shares he holds in the insurer to a unit of Swiss bank UBS.

Europe divided on aid to Greece before summit

Reuters: Business News — Sun, 21 Mar 2010 19:42:05 +0000

BERLIN (Reuters) - European leaders sent out conflicting signals at the weekend over aid to Greece, with Germany’s Angela Merkel urging Athens to solve its debt problems alone and Italy’s Silvio Berlusconi strongly backing EU support.

Stocks eye health vote, housing, Greece

Reuters: Business News — Sun, 21 Mar 2010 16:23:16 +0000

NEW YORK (Reuters) - Washington’s bid to put finishing touches on healthcare reform this weekend should help lift uncertainty on Wall Street, but there may be some turbulence along the way this week as the recent rally appears to be fraying.

Private equity eyes Kaufhof, Karstadt merger: sources

Reuters: Business News — Sun, 21 Mar 2010 13:41:24 +0000

FRANKFURT (Reuters) - Financial investors are interested in acquiring Metro’s department store chain Kaufhof and Arcandor’s Karstadt chain, aiming to merge them into one, two people familiar with the matter said on Sunday.

OECD’s Gurria sees combined EU-IMF support for Greece

Reuters: Business News — Sun, 21 Mar 2010 12:06:05 +0000

ATHENS (Reuters) - Combined support for Greece from the IMF and the European Union would be the best way to help the over-borrowed country deal with its debt crisis, OECD Secretary General Angel Gurria said on Sunday.

IMF paints grim picture of fiscal tightening needs

Reuters: Business News — Sun, 21 Mar 2010 03:31:39 +0000

BEIJING (Reuters) - Developed countries with big budget deficits must start now to prepare public opinion for the belt-tightening that will be needed starting next year, the No. 2 official at the IMF said on Sunday.