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Daily Highlights: 1.11.10
- Abu Dhabi sovereign fund has most holdings in US, Europe; sees potential in the West.
- Asia stocks, metals rise as China exports soar
- Chavez, harried by recession and declining popularity, devalues Venezuela's currency.
- China's investigation of Rio Tinto executive complete, case with prosecutors.
- China is expected to rev up steel production by nearly 10% this year.
- China may overheat with 16% GDP growth in 2010, Govt researchers say.
- China's exports surged 17.7% in December, ending 13 months of contraction.
- Dollar falls to 3-week low on increasing signs of Asian growth.
- Most shuttered auto plants remain closed; communities struggle to find new uses.
- NYC health officials ask food manufacturers to cut salt content.
- Oil rises above $83 in Asia as investors cheer signs of strong Chinese crude demand.
- Russia's markets, ruble rise after 10-day vacation on higher commodities prices.
Stock futures suggest gains; eyes on Alcoa. - US govt to ramp up the sale of bonds that provide protection against inflation.
- Alcoa may post profit as recovering global economy boosts aluminum prices.
- Credit Suisse appoints former CNBC executive Pamela Thomas-Graham to executive board.
- Ferrero in talks to line up $4.5B loan for possible joint bid with Hershey for Cadbury.
- Green Mountain Coffee Roasters extends offer to acquire Diedrich Coffee for $35/sh.
- Heineken nears deal to buy beer business of Femsa for $7.5-8B.
- Honda Motor expects its global production to grow 6% for the next fiscal year.
- India's Reliance Industries sells $763M of shares to fund bid for Lyondell.
- Japan Airlines is set for bankruptcy as PM Hatoyama abandons bailout policies.
- PSA Peugeot Citroen predicts more pain in 2010 after vehicle sales slip 2.2 percent in 2009.
- RBS has issued a teaser document detailing the 300 branches it will sell off.
- SABMiller said to have pulled out of bidding for beer division of Femsa.
- UBS AG returned to profit in Q4, but clients are still withdrawing assets.
- UPS boosted its Q4 profit projections by more than 15%, signaling economy rebounding.
Earnings Calendar: AA, PEDH.
Companies to watch: Alcoa, Heineken, Honda Motor, RBS, SABMiller, UBS, UPS.
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Data provided by Egan-Jones Ratings and Analytics
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