"Fiscal cliff" drag on economy less than feared so far

WASHINGTON (Reuters) - The U.S. economy showed surprising signs of resilience in November despite the approach of the so-called fiscal cliff as consumer spending rose by the most in three years and a gauge of business investment jumped. Consumer spending rose 0.6 percent when adjusted for inflation, while new factory orders for capital goods outside the defense and aerospace sectors - a proxy for...

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IMF extends zero interest loans to poor nations

WASHINGTON (Reuters) - Poor countries with loans from the IMF can continue to pay no interest until the end of 2014, the Fund's board said on Friday, as their economies are still recovering from the global economic crisis. The IMF's zero-interest loan program for low-income countries had been set to expire at the end of this year. "The executive board decision to keep interest rates at zero ... is...

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Top business story in '12: Sluggish global economy

This would be the year when the global economy finally regained its vigor. At least that's what many had hoped. It didn't happen. The three largest economies — the United States, China and Japan — struggled again in 2012. The 17 countries that use the euro endured a third painful year in their financial crisis and slid into recession. Emerging economies slowed. President Barack Obama defied predictions...

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Russia clashes over energy with Belarus, Ukraine, EU

MINSK/MOSCOW (Reuters) - Russia plunged back into the disputes over energy with Ukraine and Belarus that have repeatedly disrupted oil and gas supplies to European Union countries, and it also termed EU energy policy as "uncivilized". Russia on Friday denied remarks by Belarussian President Alexander Lukashenko that it had agreed to increase its crude oil supplies to Minsk, vital for the Belarus economy,...

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Two killed as looters raid supermarkets in Argentina

BUENOS AIRES (Reuters) - Two people were killed in Argentina on Friday as looters broke into supermarkets in several cities, stirring memories of the country's devastating economic crisis 11 years ago. Police fired teargas and rubber bullets to stop dozens of stone-throwing youths from looting a supermarket owned by French retailer Carrefour near the capital, a day after the unrest erupted in the...

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Andersen changes directions, heads to Wisconsin

Gary Andersen publicly pledged his allegiance to Utah State not long ago. Now he's on the verge of becoming Wisconsin's coach.Wisconsin reportedly will hire Andersen to replace Bret Bielema, who left the Badgers earlier this month to take the Arkansas job.The news about Andersen broke Tuesday night and neither Utah State nor Wisconsin had anything official to announce about Andersen on Wednesday....

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Cowboys trusting Bryant to make call on finger

IRVING, Texas (AP) — The Dallas Cowboys couldn't trust receiver Dez Bryant to even run the right routes less than two months ago. Now they're letting him dictate whether he plays with a broken left index finger. They are also drawing inspiration from Bryant's insistence on waiting until after the season for a surgery serious enough for owner Jerry Jones to startle his emerging star by mistakenly saying...

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Red Sox look for innings in Dempster

BOSTON (AP) — The Boston Red Sox have the reliable starter they sought in Ryan Dempster.He's pitched at least 200 innings in four of the past five seasons, impressive to general manager Ben Cherington but not so special to Dempster."That's your responsibility as a starting pitcher in the big leagues," Dempster said Wednesday at a news conference after his $26.5 million, two-year deal was finalized....

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Angels swap hitting for pitching with Mariners

(Reuters) - The bulked-up Los Angeles Angels swapped some hitting for pitching on Wednesday by sending first baseman/designated hitter Kendrys Morales to the Seattle Mariners for starting pitcher Jason Vargas.The Angels, who signed power-hitting Josh Hamilton to a free agent contract last week, sent some much-needed punch to Seattle to add lefthander Vargas to a rotation that includes Jered Weaver,...

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RB Richardson thinks Saban will stay at Alabama

BEREA, Ohio (AP) — Trent Richardson would be surprised if Nick Saban followed him from Alabama to the Cleveland Browns.Saban, who will lead the Crimson Tide against Notre Dame in the BCS national championship game in Miami on Jan. 7, has been mentioned as returning to the NFL, perhaps with the Browns if second-year coach Pat Shurmur is fired at season's end."I can't see him coming to the NFL," Richardson...

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French employers head sees mixed chance of labor reform success

PARIS (Reuters) - French company bosses and trade unions  have a good chance of reaching a deal to overhaul rigid labor rules, the head of the main employers' federation said on Tuesday as a deadline neared.The reforms are crucial to President Francois Hollande's efforts to revive the euro zone's second-biggest economy, which has been shedding jobs and struggling to generate the growth and revenue...

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Euro zone rescuer Draghi faces daunting 2013

FRANKFURT (Reuters) - With two short sentences, the head of the European Central Bank took the heat out of the euro zone crisis this year. In 2013 Mario Draghi has to live up to even bigger expectations.The ECB's own forecasts suggest the euro zone economy will shrink 0.3 percent next year and markets remain skeptical that the bloc's weaker members, such as Spain and Italy, can fund ballooning government...

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Dassault Aviation names Trappier as next CEO

PARIS (Reuters) - Dassault Aviation  said the head of its international operations, Eric Trappier, would take over as chief executive when Charles Edelstenne reaches retirement age in January.His deputy will be Loik Segalen, currently director of economic affairs at the maker of French warplanes and business jets, Dassault said in a statement on Tuesday.Trappier and Segalen, both 52, had been...

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Canadian dollar edges weaker as commodity currencies dip

TORONTO (Reuters) - The Canadian dollar weakened slightly against its U.S. counterpart in early trade on Monday as commodity-linked currencies dipped after the Reserve Bank of Australia said mining investment had likely peaked.While the euro strengthened against the greenback and global shares approached a three-month high on signs of compromise in U.S. talks to stop automatic tax hikes and spending...

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Global shares at three-month high on U.S. "fiscal cliff" optimism

NEW YORK (Reuters) - Signs of compromise in U.S.  talks to stop automatic tax hikes and spending cuts hurting the economy next year pushed world shares to their highest level since September on Tuesday and weakened investor appetite for safe-haven bonds and the dollar.Wall Street opened slightly higher as investors continued to expect a deal would be reached to avert the "fiscal cliff," though...

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