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Stocks, euro ease as markets await Greek deal

Asian stocks and the euro faltered on Tuesday, as a rally that had been driven by expectations of a second bailout package for Greece ran out of steam with a deal still not quite sealed.

Exclusive: Greek debt may remain at 160 percent in '20: IMF/ECB

Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, a confidential analysis conducted by the IMF, European Central Bank and European Commission shows.

Olympus to promote insider as president: report

Olympus Corp plans to promote executive officer Hiroyuki Sasa as president in April, the Japanese business daily the Nikkei said.

Long-Term Unemployment on the Rise: Why We Should Be Worried

From peak to trough, the United States lost almost nine million jobs in the most recent economic downturn. What was completely unprecedented about the most recent recession, however, was the explosion in long-term unemployment.

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'Avatar'-Style Surrogate Robots Focus of DARPA's $7 Million Project

The futuristic warplanes and weapons, the Na'vis, the sentient extraterrestrial humanoids inhabiting the fictional moon Pandora in the movie 'Avatar's had to battle against, is set to become a reality, thanks to DARPA (Defense Advanced Research Projects Agency), which plans to make an army of 'Avatar'- style surrogate robots to reduce the dangers posed to military soldiers in the battlefield, featuring telepresence and remote operation of a ground system.

Aircraft financing costs seen close to peak

The cost of financing new planes may come off current highs for some carriers as lenders step up competition for creditworthy debtors, a top supplier of aircraft financing told Reuters.

Euro zone ministers, officials before Greek talks

Euro zone finance ministers and officials arrived on Monday to discuss a second bailout package for Greece. They were expected to approve a package of aid to draw a line under months of turmoil that has shaken the currency bloc. But technical issues remained outstanding before the meeting.

Bullish hedge funds hike their bets in 2012 rally

Hedge funds are cranking up their bets in equities and credit in 2012's buoyant markets in the belief that the euro zone, U.S. and Chinese economies will fare better than many were fearing last year.

Lloyds cuts bankers' bonuses after insurance debacle

Lloyds will slash the bonuses of its former chief executive and 12 other leading members of staff, following an insurance mis-selling debacle at the part-nationalized British bank.

LightSquared defaults on Inmarsat payment

Satellite firm Inmarsat said its partner LightSquared, a venture struggling to build a U.S. mobile broadband service with Inmarsat's spectrum, had failed to pay a $56.25 million instalment to the British company.

Dow Chemical's Olympic PR push dogged by Bhopal

Dow Chemical Co hoped an Olympic sponsorship would boost its global cache, but the company's link to a gas leak tragedy 28 years ago threatens to curb some of the benefits from the $100 million advertising deal.

Chip designer CSR boosts shares with $50 million buyback

British chipmaker CSR Plc underscored its financial strength on Monday with a share buyback of up to $50 million, helping send its shares up more than 20 percent to their highest in six months.

Banks to gulp half a trillion euros from ECB

The European Central Bank will lend nearly half a trillion euros to banks at rock-bottom rates next week through its three-year refinancing operation, despite signs institutions already have adequate liquidity, Reuters polls showed on Monday.

Putin to win Russian election in first round: poll

Vladimir Putin will be elected president in the first round of March's election with more than half the vote, avoiding a runoff that would dent his authority on the eve of his planned return to the Kremlin's top job, a state pollster predicted Monday.

Four Seasons Health Care in talks to refinance debt, raise

Four Seasons Health Care is not trying to sell itself, as media reports suggested, but is in talks to renegotiate debt and raise new equity, a spokeswoman for Britain's biggest care home operator told Reuters.

Bank of China moves closer to LME membership

Bank of China International is on track to become the first Chinese member of the London Metals Exchange - giving the bourse a boost while it is considering possible takeover bids - following authorization by the UK financial regulator.

New ECB cash injection seen bringing pain for euro

A second injection of cheap funds from the European Central Bank may give the euro a temporary boost but is likely to trigger a longer-term decline in the common currency.

U.S. official optimistic on global accounting move

A senior U.S. regulator was optimistic on Monday about finding a framework for the world's top economy to use global book keeping rules for investors to compare cross-border companies.

Analysis: China bid to boost growth a surprise in timing only

Any surprise at the timing of China's move this weekend to spur bank lending may be misplaced. Instead, investors should recognize that China is determined to engineer a soft landing for the world's second-biggest economy.

Frankfurt airport strike extended to late Tuesday

Travelers in Europe face further delays and flight cancellations this week as ground staff at Frankfurt airport plan to extend their strike until early on Tuesday, with neither side in the dispute showing any sign of giving ground.

Decision day for second Greek bailout despite financing gaps

Euro zone finance ministers are expected to approve a second bailout for Greece on Monday to try to draw a line under months of uncertainty that has shaken the currency bloc, although work remains to be done to make the numbers add up.

Alibaba to secure loan, eyes HK unit buyout

Chinese e-commerce firm Alibaba Group is set to sign on Monday a $3 billion loan it plans to use to take private its Hong Kong-listed unit, Alibaba.com, Thomson Reuters publication Basis Point reported.

Philippines tries new tack: healthy man of Asia

It is getting busy in Cristino Naguiat's spacious 5th-floor office overlooking Manila Bay.

Q+A: How closed are China's commodity futures markets?

Chinese authorities keep a tight grip on the country's commodity exchanges as part of efforts to deter speculators from driving up food and resource prices.

China's Party leaders pledge prudent policies in 2012

China's ruling Communist Party leadership will implement prudent monetary policy and proactive fiscal policy in 2012, the official Xinhua news agency reported on Monday, reiterating the basic policy tone Beijing set at the end of last year.

Euro zone officials eye Greek escrow account: Fekter

Euro zone officials are discussing an escrow account for Greek bailout funds as part of a package they will address on Monday, Austrian Finance Minister Maria Fekter said.

Analysis: Euro zone gropes for way out of state-bank dependency

Like drunks at a bar door, the euro zone's governments and banks are leaning unsteadily on each other for support.

Japan's record trade deficit highlights weakening Chinese demand

Japan logged a record trade deficit with China in January as exports dropped by a fifth, underscoring concerns about how sharply China is slowing and its ability to buffer a frail global economy against European turmoil.

Japan logs record trade deficit, recovery seen

Japan logged a record trade deficit in January, government data showed on Monday, the clearest evidence to date of pain from a firm yen, a global slowdown and rising fuel imports needed to offset declining use of nuclear power.

BRICs no less vulnerable to global risks

BRIC countries have not become less vulnerable to global shocks despite their strong economic growth over the past four years, a survey showed on Monday.

Stocks may strain to hold 9-month highs

If upcoming earnings from U.S. retailers are as unimpressive as the rest of the profit season has been, Wall Street could face a tough time justifying a stock market at nine-month highs.

ECB would support euro zone combining firewalls-Asmussen

The European Central Bank would support the euro zone boosting its firewall by combining what remains in its temporary bailout facility with its permanent fund, ECB board member Joerg Asmussen was cited as saying by a German business daily.

Wynn Resorts buys out unsuitable board member

Wynn Resorts Ltd upped the ante in the fight between its billionaire founder Steve Wynn and his former business partner Kazuo Okada, accusing the Japanese gaming mogul of improper payments and forcibly buying back his 20 percent stake in Wynn's casino company at a discount.

Bahrain bankers relieved, eye infrastructure projects

Bahraini bankers expressed relief on Sunday that the February 14 anniversary of last year's democracy uprising passed without major disruptions but said lenders needed to see more infrastructure projects in the Gulf bank and tourism hub.

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