MARKETS / FINANCE

Greece's stores had their worst Christmas in decades, with retail sales dropping by 30 percent compared with the same period last year as the economic crisis shattered consumer confidence, the ESEE retail federation said on Tuesday.

Gold prices in India eased on Tuesday tracking a similar trend overseas, but the drop wasn't enough to bolster demand in the world's top consumer.

Precious metals drifted lower Tuesday, with the biggest decline coming from palladium, which was down in early trading nearly 2 percent.

Asian shares eased on Tuesday as investors squared positions in thin volume before U.S. markets reopen after a long weekend and investors see fresh data that could offer clues about prospects for the world's largest economy.

China's central government will run a smaller fiscal deficit in 2012, according to a report by local media.

Japan and India are in the final stages of deciding on a dollar swap agreement and expect to reach agreement during Japanese Prime Minister Yoshihiko Noda's visit to India this week, Japan's finance minister said on Tuesday.

China's listed banks are expected to raise over 100 billion yuan ($15.78 billion) through equity financing next year as they face pressure to replenish capital due to rapid loan growth and tighter regulation, the China Securities Journal reported on Tuesday.

Asian shares were steady on Tuesday in thin volume as investors took to the sidelines before U.S. markets reopen later in the day from a long weekend and data which could offer clues over growth prospects in the world's largest economy.

The sign in a boutique selling glass hand-crafted on the Venetian island of Murano betrays an uncertain grasp of English. But the owner is very sure who is to blame for the tough times confronting the 700-year-old local glassmaking industry.

Europe should boost the total firepower of its rescue fund and frontload its funding to send a positive signal to investors and international partners that it is determined to solve its debt crisis, Japanese officials said on Monday.

China's industrial output is expected to grow 11 percent for 2012, easing from an estimated 13.9 percent in 2011, China's industry minister said on Monday.

The yuan closed up against the dollar on Monday after hitting an all-time high in intraday trading, guided by a stronger mid-point by the People's Bank of China, and looks set for an over-4-percent appreciation for 2011, traders said.

China has arrested former executives at two brokerages on charges of insider trading, the securities watchdog said, as part of a crackdown on market malpractice that the new head of the agency has said will be one of his top priorities.

The Obama administration cleared the way for U.S. states to legalize Internet poker and certain other online betting in a switch that may help them reap billions in tax revenue and spur web-based gambling.

The yuan hit an all-time trading high against the dollar on Monday, guided by a stronger mid-point by the People's Bank of China, and looks set for an over-4-percent appreciation for 2011, traders said.

While the threat of credit rating downgrades hangs over Europe, a few big emerging market economies are on the upswing.

While the threat of credit rating downgrades hangs over Europe, a few big emerging market economies are on the upswing.

As Congress debates the Stop Online Piracy Act and Go Daddy suffers for its early support, many Americans still don't know exactly what SOPA bill is or how it would affect their day-to-day lives. Here, read a complete and easy-to-grasp guide of the controversial bill and why it's so dangerous, from why it's supported to the threat of censorship it poses.

Both Rick Perry and Newt Gingrich have been ousted from the primary after failing to collect enough valid signatures to run, and while Perry's campaign has been over for months, the loss of Super Tuesday state Virginia for Gingrich is a devastating blow. Months after he was declared dead-on-arrival, is Gingrich's comeback already over?

Japan will seek to buy Chinese government bonds, the Japanese government said in a statement issued after Prime Minister Yoshihiko Noda held talks in Beijing with Chinese Premier Wen Jiabao on Sunday.

Europe faces another year of dismal economic performance in 2012 that will weigh on global growth, but emerging markets and the United States should at least keep the world economy moving in the right direction.

Retailers saw a steady flow of last-minute shoppers on Saturday, the day before Christmas, putting a moderate cap on a pre-holiday season that started with a bang and has since waned.

George Eastman is best known as the inventor of photographic film and founder of Eastman Kodak Co, but his century-old legacy of entrepreneurship now rides on the lesser-known Eastman Chemical Co.

European Central Bank Governing Council Member Ignazio Visco said in a newspaper interview on Saturday that the bank will be attentive to the economic cycle when setting monetary policy, suggesting rates could fall more if the euro zone economy worsens.

Tom Nenon, a philosophy professor at the University of Memphis, is vexed with his online shopping experience at Best Buy, a sentiment shared by other U.S. Internet shoppers this holiday season.

Bank of America Corp is lagging behind its major U.S. competitors in complying with new capital rules, leading the bank to consider even more asset sales, sources said.

Exploration and development company Detour Gold said its Detour Lake gold project in northern Ontario has received a go-ahead from the federal government, paving the way for the development of what will be one of Canada's largest gold mines.

Yahoo Inc's board of directors has agreed to keep exploring a plan to split off the Internet company's Asian assets in a complex deal valued at $17 billion, The Wall Street Journal reported on Friday.

Get ready. The last trading week of the year will be a test for stocks to prove whether they have the strength to carry a rally into next year.