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GANDHINAGAR, India, Jan 12- Fresh off his re-election as chief minister of the Indian state of Gujarat and amid expectations he could contend to be the next prime minister, Narendra Modi avoided talk of a bigger political future during a state investment event.
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*Payroll tax hike could suck $125 billion from households. WASHINGTON, Jan 12- Americans are beginning to feel the pinch from Washington's decision to embrace austerity measures aimed at bringing down the nation's budget deficit.
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*New gas export routes planned to bypass Russia. ASHGABAT, Jan 12- Reclusive Turkmenistan will launch a privatisation of state-held assets in its tightly regulated economy in coming months but looks set to keep control of the vital oil and gas industry, officials said on Saturday.
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"We are at an inflection point where, especially in the U.S., you'll start to see net inflows into equities," said Margaret Patel, senior portfolio manager at Wells Capital Management, which oversees $331 billion in assets. "
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MILAN, Jan 12- Milan's menswear fashion week started on Saturday amid concerns over the economy and also the fate of Vittorio Missoni, one of Italy's best-known clothes executives, whose plane disappeared off Venezuela a week ago.
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NEW YORK/ WASHINGTON, Jan 12- The White House would be taking a risk if it tries to make a constitutional end-run around Congress' authority to raise the debt ceiling, legal experts said.
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SYDNEY, Jan 12- The Australian port of Dampier, which handles close to a fifth of the world's seabourne iron ore trade for resources giant Rio Tinto, will reopen on Saturday after a two-day closure due to a cyclone off the northwest Australian coast.
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NEW YORK, Jan 11- American International Group Inc has filed a lawsuit against a vehicle created by the Federal Reserve Bank of New York to help bail out the insurer, in a bid to preserve its right to sue Bank of America Corp and other issuers of mortgage debt that went sour.
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LOS ANGELES, Jan 11- An Arctic air mass has sent temperatures plunging across California, threatening the state's lucrative citrus harvest, its winter vegetables and its more cold-sensitive strawberry crop, weather and agricultural experts said on Friday.
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OTTAWA, Jan 11- Canadian Prime Minister Stephen Harper agreed in a meeting with native leaders on Friday to pay more attention to their demands, trying to mollify an aboriginal protest movement that has threatened to blockade roads and railways across the country.
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NEW YORK, Jan 11- New Jersey Transit incorrectly used federal government software that otherwise could have warned officials against a disastrous decision to leave $100 million worth of equipment in a low-lying rail yard before Superstorm Sandy struck, a Reuters examination has found.
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A federal appeals court ruled that Netflix receives an unfair advantage from the US Postal Service in handling its DVDs and ordered postal regulators to remedy the situation.
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*Ontario chief threatens blockades on Jan 16. OTTAWA, Jan 11- Aboriginal protesters blocked the main entrance to a building where Canada's prime minister was preparing to meet some native leaders on Friday, highlighting a deep divide within the country's First Nations on how to push Ottawa to heed their demands.
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BOSTON, Jan 11- Fidelity Investments, Federated Investors Inc and Charles Schwab Corp on Friday joined a growing list of top U.S. money market fund managers in agreeing to post daily fund asset values, as the industry comes under growing pressure from regulators for more transparency.
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*China a worry despite turnaround in market sentiment. Copper closed lower on Friday as demand from top consumer China remained weak. Gold fell on Friday too, after growing inflation pressure in China dented hopes for more stimulus from the world's second-largest economy.
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Jan 11- Wal-Mart Stores Inc is replacing the chief of its Latin American unit, who had run the retailer's business in Mexico when the company reportedly began a probe into bribery allegations in the country. Solorzano will remain as chairman of the board of directors at Wal-Mart de Mexico, the Mexican unit of the world's largest retailer, Wal-Mart said on Friday.
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NEW YORK, Jan 11- The euro rose to its highest level since April against the dollar on Friday in the wake of encouraging remarks from the head of the European Central Bank, while an improving economic outlook held world stock prices near a 20- month high.
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*Fisker courts Asian investors as China bolsters EV goals. BEIJING, Jan 11- Top executives at Fisker Automotive Inc, maker of the sleek Karma plug-in hybrid, are scouring Asia- in particular, China- for funding and strategic partners that are viewed as crucial to the automaker's success, four people familiar with the matter said.
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NEW YORK, Jan 11- U.S. Treasuries prices gained in choppy trading on Friday as investors struggled to find a new range for the debt, weighing a brighter economy against impending Washington budget battles. "It's been quite a back and forth roller coaster today," said Justin Lederer, Treasury strategist at Cantor Fitzgerald in New York. "
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*Wells Fargo net interest margin drops, shares slip. "It's a market that is waiting for more of a catalyst from earnings," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey. The S&P 500 has gained 5 percent over the last two weeks to take the benchmark to five-year highs.