May 24- News Corp said on Friday it will write down the value of its Australian and U.S. publishing assets by up to $1.4 billion, as the company prepares to split its business between its newspaper and entertainment operations. Analysts were expecting News Corp to report a pretax profit of $1.4 billion, according to Thomson Reuters I/B/E/S.» Read More
WASHINGTON, Dec 18- After making major concessions on long-held "fiscal cliff" positions, President Barack Obama and House of Representatives Speaker John Boehner will test the reaction Tuesday of their respective parties in the U.S. Congress and continue talks aimed at further narrowing their differences.
LONDON, Dec 18- British inflation defied forecasts in November to hold at its highest rate since May, reducing the scope for the Bank of England to inject more cash into the struggling economy.
*Nokia rallying on Lumia sales hopes. LONDON, Dec 18- European shares rose close to 2012 highs on Tuesday on signs that U.S. lawmakers might reach agreement to avoid looming tax hikes and spending cuts that threaten to hurt the world's biggest economy.
MILAN/ LONDON, Dec 17- General Electric is set to clinch a deal to buy Italian aerospace supplier Avio whose parent company, Cinven, has ended talks with rival French suitor Safran, sources involved in the deal told Reuters. It looks like Safran is out, "one source said on Tuesday.
LONDON, Dec 18- Spanish and Italian government bonds rallied in thin trade on Tuesday as progress in U.S. budget talks and the absence of any fresh domestic scares lifted investors demand for higher-yielding assets. President Barack Obama made a counter-offer to Republicans that included a change in position on tax hikes for the wealthy.
*ETF seen easing worries over stockpiles in China. The most-traded March copper contract on the Shanghai Futures Exchange slipped 0.43 percent to close at 57,880 yuan a tonne. "
Dec 18- Toyota Motor Corp has been ordered to pay a record fine of $17.35 million for failing to report a safety defect to the U.S. government in a timely manner, the U.S. Department of Transportation said.
*Wal-Mart unit bribed officials to open stores: NYT. NEW YORK, Dec 18- U.S. stock index futures rose on Tuesday, indicating equities could extend a rally that took them nearly two-months highs on growing optimism over a "fiscal cliff" deal.
GENEVA, Dec 18- "Happy Taxation" is a 2011 book by Pascal Broulis, finance minister of the Swiss canton of Vaud and celebrant of the low taxes that distinguish Switzerland. Now Europe's governments have turned the spotlight on the incentives Switzerland offers companies.
*Record sugar output for Brazil 2013 crop expected. *Brazil farmers withhold coffee in hope of higher prices. March raw sugar futures on ICE eased 0.05 cents or 0.3 percent to 19.36 cents a lb at 1127 GMT.
*China to use more coal than rest of the world combined. China will use more coal than the rest of the world put together, while India will overtake the United States as the world's second-largest consumer and become the biggest global importer, the Paris- based IEA forecast in its annual Medium-Term Coal Market Report, released on Tuesday.
LONDON, Dec 18- Europe will definitely fail to meet the globally-agreed January deadline for the implementation of tougher capital requirements for banks after European Union talks to agree the rules were postponed on Tuesday.
The political divide narrowed on Monday night when President Barack Obama proposed leaving lower tax rates in place for those earning under $400,000, moving closer to the $1 million threshold favoured by Republican House of Representatives Speaker John Boehner. " said Daiwa Securities economist Tobias Blattner. "
ROME, Dec 18- The next Italian government must cut taxes and shun German-inspired austerity policies which have dragged the country into recession, the main economics spokesman in Silvio Berlusconi's centre-right party said.
BRUSSELS, Dec 18- United Parcel Service Inc has offered more concessions in a bid to win EU regulatory approval for its 5.2- billion-euro bid for TNT Express, two people familiar with the matter said on Tuesday.
*Price expected at $370 per 1,000 cm, down from over $400. MOSCOW/ LONDON, Dec 18- Russia's Gazprom, pressured by customers and competitors to reduce its gas prices, is likely to cut long-term contract prices to Europe next year to levels comparable to the spot market, a source at the company said.
*Air Berlin sees proceeds of 184.4 mln euros from sale. *Air Berlin shares up 5.8 percent. FRANKFURT, Dec 18- Gulf carrier Etihad is buying a 70 percent stake in Air Berlin's frequent-flyer programme, injecting cash into the loss-making German airline as it struggles to return to profit.
LONDON, Dec 18- Brent crude oil rose above $108 a barrel on Tuesday on signs of progress in U.S. talks to resolve a budget crisis that threatens to tip the world's top oil consumer into recession.
Washington thinks a resolution of the tense debate over the national debt will unlock a burst of economic growth. However, evidence for this belief is far from clear.
The Swiss National Bank is opening a branch in Singapore to allow for round-the-clock management of its foreign exchange reserves, which it needs to tap to defend the safe-haven franc from over-heating.