ECONOMY & MARKETS

Steve Jobs, the CEO of Apple Inc. (AAPL), has taken medical leave to focus on his health. In his absence, Chief Operating Officer Tim Cook will be responsible for day to day operations.

The United States productivity growth will slow substantially in 2011 and could even fall below the rate in the euro area, The Conference Board reported on Monday.

U.S. bank stocks are flying high, and this week's earnings could give investors more reason to be optimistic about the sector.

Hong Kong stocks are expected to edge higher on Monday to a near two-month high, as the appetite for risky assets stays steady after JP Morgan's quarterly earnings report lifted Wall Street on Friday.

China's key stock index opened down 0.7 percent on Monday, with banking and property stocks slipping, after the People's Bank of China announced a rise in lenders' required reserves for the fourth time in just over two months.

Seoul shares are likely to open cautiously on Monday after the latest move by China to tighten monetary policy, while crude refiners and airlines may be tracked on crude oil prices' continued gains.

Bank of China Group Investment is expected to spin off its China rental properties through a yuan-denominated REIT listing in Hong Kong, to raise more than HK$2.3 billion ($296 million), the Apple Daily reported on Monday.

Singapore shares may open higher on Monday following gains on Wall Street overnight, lifted by financial stocks. However, any gains may be subdued due to China's latest move to tighten monetary policy.

Li Ning Group Ltd (2331.HK) said on Monday that same-store sales growth of its L-Ning brand products increased 3.6 percent in the fourth quarter and about 3.9 percent for the full year.

Shanghai hopes to encourage foreign companies to raise capital through stock and bond issuance in Shanghai this year, Mayor Han Zheng said on Sunday, while also confirming the city plans a trial property tax during 2011.

Crude oil prices have broken out of their trading range and is headed towards $114, the next resistant point, said Richard Perry, chief market strategist at Central Markets.

The Chinese economy grew around 10.1 percent last year, the deputy head of China's top economic planning agency told Reuters on Saturday, which amounts to the fastest pace of annual growth in three years.

Tata Steel, the world's seventh largest steel maker, could raise as much as 34.77 billion rupees ($769.5 million) in its follow-on public share sale.

BP is preparing to announce a major deal with Rosneft, the state-owned Russian energy giant, according to a report from the BBC.

Stocks rose modestly, boosted by strong corporate earnings from J.P. Morgan (NYSE: JPM) and Intel Corp. (Nasdaq: INTC), allowing the S&P 500 index to score its seventh consecutive week of gains.

Echoing some of the recent warnings from famed analyst Meredith Whitney, the chief executive of J.P. Morgan (NYSE: JPM) Jamie Dimon said he thinks more municipalities will face bankruptcies this year.

The South African rand fell to its lowest in five weeks on Friday, as the central bank mopped up dollar supply as a measure to curb currency strength, while waning global risk appetite also weighed.

Bullion rebounded on Friday as the euro lost strength despite better-than-forecast debt auctions by Spain and Italy, while purchases from jewellers and investors, which sent premiums for gold bars to two-year highs, offered additional support.

South Africa's rand was steady against the dollar in early Friday trade, with healthy flows to the stock market balancing out central bank dollar-buying, dealers said.

The Kenyan shilling firmed against the dollar on Friday after the greenback lost ground against major hard currencies, increasing investors' appetite for riskier assets.

U.S. stock index futures pointed to a lower open on Friday after weak retail sales and a mixed reaction to JPMorgan Chase & Co's quarterly earnings.

The Ugandan shilling strengthened marginally on Friday, supported by central bank intervention after it hit a record low against the dollar, but traders said the currency's reprieve could be short-lived.

An improving global economy, solid corporate earnings and even easing fears about euro zone debt have been more than enough to rationalise the rising hunger for riskier assets now prevalent on financial markets.

Ethiopia's annual inflation rate jumped to 14.5 percent last month from 10.2 percent in November following an almost 17 percent devaluation of its currency last year.

Austerity has come to America through state and local governments.

High-profile banking analyst Richard Bove said the U.S. banking sector is entering into a “golden age.” The financial strategist at Rochdale Securities explains that banks have so flush cash on their balance sheets that corporate earnings will grow by 20 percent annually over the next few years.

U.S. stocks are down slightly in Friday morning trading after the release of U.S. retail sales data and news of further monetary tightening from China.

Inflation risks in the euro zone could well move to the upside and the 17-country region's economic outlook has clearly improved, European Central Bank Governing Council Axel Weber said on Friday.

U.S. inflation increased a marginal 0.5 percent in December on a seasonally adjusted basis, helping annual inflation rate to rise to a seven-month high, while core prices nudged up by 0.1 percent.