Japan's Abe set for second term, to tap allies for cabinet

 Shinzo Abe will be voted in as prime minister by parliament's lower house on Wednesday, giving the hawkish lawmaker a second chance at Japan's top job as the country battles deflation and confronts a rising China.Abe, 58, has promised aggressive monetary easing by the Bank of Japan and big fiscal spending by the debt-laden government to slay deflation and weaken the yen to make Japanese exports...

Read More..

U.S. moves to sell advanced spy drones to South Korea

 The Obama administration formally proposed a controversial sale of advanced spy drones to help South Korea bear more of its defense from any attack by the heavily armed North.Seoul has requested a possible $1.2 billion sale of four Northrop Grumman Corp RQ-4 "Global Hawk" remotely piloted aircraft with enhanced surveillance capabilities, the Pentagon's Defense Security Cooperation Agency said...

Read More..

Pope's Christmas message focuses on Mideast, China

 In his Christmas message to the world Tuesday, Pope Benedict XVI called for an end to the slaughter in Syria and for more meaningful negotiations between Israelis and Palestinians, while encouraging more religious freedom under China's new leaders.Delivering the traditional speech from the central balcony of St. Peter's Basilica, Benedict also encouraged Arab spring nations, especially Egypt,...

Read More..

Daiwa CEO sees 2013 Nikkei rally on Abe economy boost

 Japan's Nikkei stock average could rally nearly 30 percent in 2013 due to an aggressive push to reflate the economy under the country's new premier, the chief executive of Daiwa Securities Group told Reuters in an interview.While securities executives are known for their bullish market predictions, the comments from Takashi Hibino reflect an optimism among business leaders that the policies...

Read More..

Obama to cut vacation short to deal with fiscal crisis

President Barack Obama is cutting short his Hawaiian holiday to leave for Washington on Wednesday to address the unfinished "fiscal cliff" negotiations with Congress, the White House said on Tuesday.As the clock ticks toward a January 1 deadline, efforts to avert a sharp rise in taxes and deep spending cuts have stalled, worrying world financial markets.Obama and congressional lawmakers left Washington...

Read More..

No new vote in Venezuela if Chavez sworn in late: official

Venezuela will not call fresh elections if Hugo Chavez's cancer prevents him from taking office by January 10, the head of Congress said on Saturday, despite a constitutional mandate that the swearing-in take place on that date. Chavez is recovering in Cuba from a six-hour cancer operation that followed his October re-election. The socialist leader has not been heard from for nearly two weeks, raising...

Read More..

FDA approves Aegerion's cholesterol drug with strongest warning

Aegerion Pharmaceuticals Inc said the U.S. health regulator approved its drug as an alternative treatment for patients who have a genetic predisposition to high cholesterol. The drug, Juxtapid, would carry a boxed warning -- the strongest label warning -- and will be available only through a restricted program due to risk of liver damage. Shares of the company fell nearly 4 percent to $24.76 in early...

Read More..