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Thursday, November 22, 2012

Business Today: Global shares gain as economic outlook improves

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11/22/2012
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Global shares gain as economic outlook improves
LONDON (Reuters) - World share markets extended a week-long rally on Thursday as manufacturing surveys in China and the United States boosted confidence over global growth and euro zone data at least didn't worsen the already weak outlook for the region.
Holiday shopping marathon starts as consumer sentiment remains shaky
(Reuters) - Forget that Turkey trot. Thanksgiving is now the start of the annual holiday shopping endurance race, as more stores open on Thursday's national holiday to seek a bigger share of spending that is expected to grow slowly this season.
Euro zone faces deepest downturn since early 2009
LONDON (Reuters) - The euro zone economy is on course for its weakest quarter since the dark days of early 2009, according to business surveys that showed companies toiling against shrinking order books in November.
China's manufacturing growth quickens; HSBC flash PMI at 13-month high
BEIJING (Reuters) - China's vast manufacturing sector saw expansion accelerate in November for the first time in 13 months, preliminary results from a factory survey showed, a sign that the pace of economic growth has revived after seven consecutive quarters of slowdown.
Fitch cuts Sony, Panasonic debt ratings to "junk" status
TOKYO (Reuters) - Ratings agency Fitch downgraded the debt ratings of Japan's Sony Corp and Panasonic Corp to "junk" status citing weakness in their consumer electronics and TV operations, further diminishing the luster of the once-great Japanese brands.
Analysis: Russian-style quantitative easing may sow trouble
MOSCOW (Reuters) - It has been dubbed quantitative easing, Russian-style. A surge in central bank lending to Russian banks is sustaining rapid loan growth, but also risks fueling inflation and a potential credit bubble.
Exclusive: Atlas Copco nears buy of Shandong Rock - sources
HONG KONG/STOCKHOLM (Reuters) - Swedish compressor and mining gear maker Atlas Copco is close to a deal to buy a 75 percent stake in Shandong Rock Drilling Tools Co Ltd from China's Shandong Sanshan Group, sources in China familiar with the matter told Reuters.
Spain starts 2013 funding with 3.9 billion-euro bond sale
MADRID (Reuters) - Spain sold nearly 4 billion euros of bonds with ease at an auction on Thursday that kicked off its funding program for a daunting 2013 when Madrid must shoulder regional debt needs and will struggle to meet deficit targets.
In China, car buyers' savvy may be Japanese brands' salvation
GUANGZHOU/BEIJING (Reuters) - China's car buyers are growing up - with a more discerning view on the bang they want for their buck - and that could help Japanese automakers recover in a market where sales have been battered in protests over disputed East China Sea islets.
SABMiller boosted by Latin America growth
LONDON (Reuters) - SABMiller , the world's second-biggest brewer, posted a 12 percent rise in first half profit, boosted by its acquisition of Australian brewer Foster's and strong growth in Latin America.
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