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Tuesday, December 25, 2012

Business Today: Yen on defensive on U.S. fiscal worry, helps Nikkei

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12/25/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Yen on defensive on U.S. fiscal worry, helps Nikkei
TOKYO (Reuters) - Uncertainty over whether U.S. lawmakers will strike a deal by an end-of-year deadline to avert a severe fiscal retrenchment undermined the yen and bolstered Japanese shares on Tuesday in low volume, with many participants away on Christmas holiday.
Jaguar Land Rover's China unit to recall cars over safety worries
BEIJING (Reuters) - Jaguar Land Rover's Chinese subsidiary will recall 337 cars because of substandard fixings in their brakes and steering boxes, China's national product quality watchdog said on Tuesday.
Japan's incoming PM keeps up pressure on BOJ to attack deflation
TOKYO (Reuters) - Incoming Japanese Prime Minister Shinzo Abe kept up his calls on Tuesday for the Bank of Japan to drastically ease monetary policy by setting an inflation target of 2 percent, and repeated that he wants to tame the strong yen to help revive the economy.
Lawmakers play waiting game with 'fiscal cliff' deadline in sight
WASHINGTON (Reuters) - With only a week left before a deadline for the United States to go over a "fiscal cliff," lawmakers played a waiting game on Monday in the hope that someone will produce a plan to avoid harsh budget cuts and higher taxes for most Americans from New Year's Day.
Hitachi CEO: Still in talks on Lithuania nuclear project
TOKYO (Reuters) - Japan's Hitachi Ltd remains in talks with Lithuania over its plans to build a nuclear plant after the European country's new centre-left government said it could shelve nuclear projects, the company's top executive said on Tuesday.
Sony says China business has recovered, foresees growth
BEIJING (Reuters) - Sony Corp's business in China has "more or less" returned to levels seen before recent protests against Japan's actions over a group of disputed islands, the Japanese company's China chief, Nobuki Kurita, told reporters on Tuesday.
Chevron to buy stake in Kitimat LNG from Encana, EOG
CALGARY, Alberta (Reuters) - Chevron Corp said on Monday it will enter the Canadian liquefied natural gas business with the acquisition of the 50 percent stake in the Kitimat LNG project held by Encana Corp and EOG Resources Inc.
Instagram furor triggers first class action lawsuit
SAN FRANCISCO (Reuters) - Facebook's Instagram photo sharing service has been hit with what appears to be the first civil lawsuit to result from changed service terms that prompted howls of protest last week.
New Jersey pension fund sues NYSE Euronext on ICE deal
NEW YORK (Reuters) - A pension fund that holds shares of NYSE Euronext has sued the exchange operator over its proposed $8.2 billion sale to IntercontinentalExchange Inc , saying the deal undervalues the company's stock.
Start of "Santa Claus rally" dampened by "cliff' worries
NEW YORK (Reuters) - U.S. stocks edged lower on Monday as caution over the potential for volatility driven by worries about the U.S. "fiscal cliff" dampened enthusiasm at the start of a seasonally strong period for equities.
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