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HONG KONG Business conditions for Chinese manufacturers continued to improve in December, with HSBC’s initial Purchasing Managers’ Index rising to a 14-month high of 50.9, according to the survey results released Friday. The reading compares with HSBC’s final PMI print of 50.5 for November. A reading above 50 signals an improvement in activity. HSBC’s initial or “flash” PMI reading is based on responses from 85% to 90% of the total respondents in the monthly survey. Hongbin Qu, HSBC’s chief economist for China, said the improvement in the latest survey results confirmed that China’s “ongoing growth recovery is gaining momentum, mainly [...]

Tis the season to sell and buy! Here are the top four reasons sellers should list and buyers should purchase prior to ringing in the New Year. The commitment factor Buyers searching for homes over the holidays are serious, committed and ready to go, often motivated by a deadline-oriented relocation brought on by a career switch or an unexpected change in housing situation. Furthermore, with vacation time during the season, local buyers generally have more time during the weekdays to look. Emotional buying The holiday season also brings out emotions and feelings of nostalgia in buyers, which may help push their [...]

MADRID Unions at Spanish airline Iberia on Monday called off a six-day strike in December to avoid disrupting holiday travel while warning that protests over massive job cuts might follow later. The strikes, planned largely for the week before Christmas, threatened to damage Spain’s image and the finances of the loss-making airline. Rivals would have also been hit by the absence of Iberia baggage handlers at many Spanish airports. Unions failed to reach any agreement with Iberia over a major restructuring of the company at the latest round of talks on Monday, opening the door for strikes at another time. [...]

NEW YORK In normal times, next week’s slew of U.S. economic data could be a springboard for a December rally in the stock market. December is historically a strong month for markets. The S&P 500 has risen 16 times in the past 20 years during the month. But the market hasn’t been operating under normal circumstances since November 7 when a day after the U.S. election, investors’ focus shifted squarely to the looming “fiscal cliff.” Investors are increasingly nervous about the ability of lawmakers to undo the $ 600 billion in tax increases and spending cuts that are set to [...]

NEW YORK In normal times, next week’s slew of U.S. economic data could be a springboard for a December rally in the stock market. December is historically a strong month for markets. The S&P 500 has risen 16 times in the past 20 years during the month. But the market hasn’t been operating under normal circumstances since November 7 when a day after the U.S. election, investors’ focus shifted squarely to the looming “fiscal cliff.” Investors are increasingly nervous about the ability of lawmakers to undo the $ 600 billion in tax increases and spending cuts that are set to [...]

CHICAGO Three top Federal Reserve officials on Saturday offered sharply different takes on the U.S. central bank’s unprecedented efforts to push down long-term borrowing costs, highlighting what may be some key themes at the Fed’s upcoming policy-setting meeting. Charles Evans, the dovish president of the Chicago Fed, made no bones about his view that more policy accommodation is needed, repeating his call for keeping rates low until unemployment falls to at least 6.5 percent, as long as inflation does not threaten to rise above 2.5 percent. “We are in a period where having low policy rates for a very long [...]

Investors suing to recoup losses from Argentina’s 2002 debt default have asked a U.S. court to order the country post a security deposit of at least $ 250 million by December 10, while an appeal of a lower court’s order is pending. In an emergency motion filed late Friday, the “holdout” creditors urged the 2nd U.S. Circuit Court of Appeals to modify its ruling from Wednesday that halted an order for Argentina to deposit $ 1.33 billion into an escrow account by December 15 on the investors’ behalf. They say this only gives Argentina more time to plot a way [...]

ATHENS Greece has extended the deadline for its banks to report already-delayed financial results to December 21, according to a finance ministry decree published on Friday by a financial website. The government had postponed the deadline to October 31 and then to the end of November, pending their recapitalization from the European Union and the International Monetary Fund. “The deadline to publish listed banks’ financial results for the third quarter of 2012… is extended to December 21,” said the decree published by the www.taxheaven.gr website. The new reporting date comes after a December 13 deadline to complete a debt buy [...]

NEW YORK An eventual bid for Best Buy Co Inc by founder Richard Schulze could come in under his initially proposed $ 8 billion range and will likely not occur before December, sources familiar with the matter said, in a new twist to the months-long saga at the struggling electronics retailer. The former chairman has done most of his due diligence on Best Buy and has formed a business plan to turn around the world’s largest consumer electronics chain, with his efforts now focused on lining up financing for a deal, the sources said. At least three private equity firms [...]

NEW YORK An eventual bid for Best Buy Co Inc by founder Richard Schulze could come below his initial proposal of around $ 8 billion and is now not expected to be made before December, sources familiar with the matter said, in a new twist to the months-long saga at the struggling electronics retailer. Schulze has done most of his due diligence on Best Buy and has formed a business plan to turn around the world’s largest consumer electronics chain, with his efforts now focused on securing financing commitments, the sources said. At least three private equity firms – Apollo [...]