MARKETS / FINANCE

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Verizon, Redbox plan Netflix challenge

Verizon Communications Inc and Coinstar's Redbox unit have formed a joint venture to sell video services aimed at competing against video rental giant Netflix Inc.

787 glitch may pressure Boeing production outlook

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Boeing Co faces fresh questions over whether it can meet what was already viewed to be an overly ambitious production schedule for the 787 Dreamliner, after the aerospace company said it had found a problem with the jet's fuselage.

IMF's Blanchard sees very large Greek haircut

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The IMF's chief economist, Olivier Blanchard, said on Monday it looks like the 'haircut' on Greek private debt will be very large as negotiations between bondholders and the government drag on to cut Greece's debt burden.
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As Facebook grows up, it courts Madison Avenue

About a year ago, when it became clear that taking Facebook Inc public was a matter of when not if, Chief Operating Officer Sheryl Sandberg went out and poached Carolyn Everson, then global advertising head at Microsoft Corp.
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Fed should raise rates in 2013, Bullard says

The Federal Reserve should start raising interest rates next year, a top Fed official said on Monday, arguing that many years of near-zero rates will do little to return economic output to pre-recession levels and risks causing disaster.
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Wall Street eases as investors eye Greece

Stocks edged lower on Monday as a delay by debt-ridden Greece in accepting the terms of a bailout gave investors little reason to buy equities after a five-week rally.
Gold

Randgold Resources Sees Growth Potential in Congo

Randgold Resources is pointing to Congo as the next area to fuel growth for the gold sector, eyeing prospects similar to those of booming West Africa as the miner nears production for Kibali, potentially one of Africa's largest gold mines.
Harmony Gold CEO Graham Briggs

Harmony Gold Cuts Full-Year Production Target

Harmony Gold, South Africa's third-largest bullion miner, cut its full-year production target by 13 percent on Monday, as safety stoppages threatened to crimp a surge in profit from record gold prices.
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Humana posts higher profit, lifts forecast

Humana Inc posted a big rise in fourth-quarter earnings that was generally in line with analysts' targets, helped by higher membership in its Medicare plans for the elderly, and the health insurer slightly lifted its full-year profit forecast.
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Glencore, Xstrata hammer out premium as deal nears

Top executives at Glencore and Xstrata are hammering out the final details of a proposed $80 billion merger, including the premium on offer by the commodities trading giant to secure approval from the miner's shareholders.
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Wall Street set to open lower on Greece concerns

Stock index futures pointed to a lower open on Monday, indicating the S&P 500 index will pull back after a five-week rally on concerns Greece may be unable to avoid a chaotic default as it tries to reach terms on a new bailout package.
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Merkel presses Greece as another bailout deadline slips

Greece let yet another deadline slip on Monday for responding to painful terms for a new EU/IMF bailout, as German Chancellor Angela Merkel made clear Europe's patience is wearing thin over drawn-out negotiations among its feuding political leaders.
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Stock futures dip on worries over Greece

Stock index futures fell on Monday, indicating the benchmark S&P 500 index could pull back after a five-week rally on concerns Greece will be unable to avoid a chaotic default as it tries to reach terms on a new bailout package.
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Internet giants remove content after India court warning

Internet giants Google Inc and Facebook removed content from some Indian domain websites on Monday following a court directive warning them of a crackdown like China if they did not take steps to protect religious sensibilities.
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Stock futures fall on Greece concerns

Stock index futures fell on Monday, indicating the benchmark S&P 500 index could pull back after a five-week rally on concerns Greece will be unable to avoid a chaotic default as it tries to work out a new bailout package.
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China growth could halve if Europe crisis worsens: IMF

China's annual economic growth could be cut nearly in half this year if Europe's debt crisis tips the world economy into a recession, putting pressure on Beijing to unveil significant fiscal stimulus, the International Monetary Fund said.
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Greek parties face EU bailout deadline

Greece's coalition parties must tell the European Union on Monday whether they accept the painful terms of a new bailout deal to avoid a messy default that could threaten the country's future in the euro zone.
Super Pit gold mine

Gold Prices Retreat on Greek Default Worries

Gold prices declined Monday on concerns Greece will - despite the Eurozone's two years of efforts - default on its massive sovereign debt, with acute consequences for global economic growth.
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Europe's debt rose to 82 percent of output at end-Q3

The European Union's total government debt rose slightly to 82.2 percent of economic output in the third quarter of 2011, the EU's statistics agency said on Monday, lower than the United States but still a burden that could take decades to pay down.

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