- Greece Faces Budget Credibility Test as EU's Officials Swoop Into Athens Greece’s plan to cut the European Union’s widest budget deficit faces a first credibility test today when EU officials arrive in Athens to scrutinize the government’s taxing and spending proposals.
- Asian Stocks Rise, Led by Carmakers, Banks; Copper Gains, Bond Risk Falls Asian stocks advanced, the risk of defaults in the region fell and copper rose to the highest level in more than 16 months on signs the global economy is improving. The euro weakened on concerns about support for Greece.
- Sumitomo Mitsui Financial to Raise $9.6 Billion Through Sale of New Shares Sumitomo Mitsui Financial Group Inc., Japan’s second-biggest bank by market value, said it may raise as much as 889 billion yen ($9.6 billion) in its second share sale since July to bolster capital.
- Hershey Board Members Are Said to Be Divided on Cadbury Bid to Rival Kraft Hershey Co.’s executives and board members are divided on whether to make a bid for Cadbury Plc and have yet to arrange financing for an offer, according to people with knowledge of the matter.
- Palm's Biggest Investor Stays on `Marathon' Course as Apple Rivalry Mounts Palm Inc.’s biggest shareholder, Elevation Partners LP, plans to hang on to its stake, saying the maker of the Pre can challenge Apple Inc. and Google Inc. in the smartphone market.
- GMAC May Post $10 Billion Annual Loss After Taxpayers Take Majority Stake GMAC Inc., the auto and home lender that became majority-owned by the U.S. government last week after a third bailout, may post a loss of more than $10 billion for 2009 as more borrowers defaulted on mortgages.
- Hatoyama Urges Japan Finance Minister Fujii Not to Quit on Health Grounds Japanese Prime Minister Yukio Hatoyama urged ailing Finance Minister Hirohisa Fujii to stay in his post, declining to confirm reports Fujii will step down because of deteriorating health.
- Winter Weather Delays Flights, Threatens Crops From Florida to North China Crude oil traded near its highest level in 14 months, citrus growers in Florida fought to protect their crops and Beijing had its coldest morning for almost four decades as winter weather gripped China, Europe and the U.S.
- Connecticut Senator Christopher Dodd Said to Not Seek Re-election in Fall Senator Christopher Dodd, a five-term Connecticut Democrat trailing in the polls, will not run for re-election in November, according to a Congressional aide familiar with the matter.
- Democrats Open to Raising Medicare Tax on High Earners to Fund Health Bill The U.S. House may accept a plan to increase Medicare payroll taxes on high-salary earners as a compromise to help get a health-care overhaul through Congress, top Democratic lawmakers said.
Bloomberg Daily News 6th January 2010
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