Business Today: Greek drama plays out on Wall Street

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Good Morning Aron, MON 15 Feb 2010    Greek drama plays out on Wall Street HSBC seeks big growth, sukuk pickup in 2010 EU asks Greece to explain derivatives reports ECB's Orphanides: Accommodation still needed Tata Motors appoints former GM exec as group CEO BAE in $929 million write-down on lost U.S. deal Juncker says Greece must cut deficit sharply in 2010 Bharti confirms $10.7 billion bid for Zain Africa assets Toyota head to brief on recalls in Tokyo on Feb 17 Japan GDP jumps as stimulus masks deflation crisis Business Update: Japan GDP firms Toyota eyes comeback pitch Eurozone GDPs signal tough times Greek drama plays out on Wall Street February 14, 2010 12:17 PM ET NEW YORK (Reuters) - U.S. stocks could struggle to make headway this week if a meeting of European finance ministers fails to reassure markets that they can contain Greece's debt problems. Full Article HSBC seeks big growth, sukuk pickup in 2010 February 15, 2010 07:58 AM ET DUBAI (Reuters) - HSBC expects double-digit revenue growth this year in its Amanah Islamic banking division and more sukuk mandates than in 2009, Razi Fakih, deputy chief executive of Amanah told Reuters. Full Article EU asks Greece to explain derivatives reports February 15, 2010 08:33 AM ET BRUSSELS (Reuters) - The European Commission said on Monday it was asking Greece to explain reports in the U.S. and German press that it engaged some years ago in derivatives deals with U.S. investment banks to cut its deficit and debt figures. Full Article ECB's Orphanides: Accommodation still needed February 15, 2010 08:09 AM ET FRANKFURT (Reuters) - The European Central Bank has to keep its monetary policy accommodative while it continues unwinding of some of its crisis liquidity measures, Governing Council member Athanasios Orphanides was quoted on Monday as saying. Orphanides also told news agency Bloomberg he was concerned that inflation undershooting the ECB's price stability definition could start to impact inflation expectations, and said there are advantages to keeping full allotment policy in place in at least Full Article Tata Motors appoints former GM exec as group CEO February 15, 2010 07:54 AM ET MUMBAI (Reuters) - India's Tata Motors has appointed Carl-Peter Forster, a former General Motors executive, as the group chief executive officer, the company said on Monday. Full Article BAE in $929 million write-down on lost U.S. deal February 15, 2010 07:16 AM ET LONDON (Reuters) - BAE Systems , Europe's biggest military contractor, said it will take a charge of 592 million pounds ($929 million) to its 2009 accounts after losing out on a U.S. Army contract after an unsuccessful appeal. Full Article Juncker says Greece must cut deficit sharply in 2010 February 15, 2010 08:31 AM ET BRUSSELS (Reuters) - Greece must cut its budget deficit by 4 percentage points this year and if it doesn't, additional measures could be called for, Eurogroup chairman Jean-Claude Juncker said on Monday. Full Article Bharti confirms $10.7 billion bid for Zain Africa assets February 15, 2010 07:29 AM ET NEW DELHI (Reuters) - Bharti Airtel is in exclusive talks to buy for $10.7 billion in cash most of Kuwaiti telecom group Zain's African cellular assets, the Indian firm's third attempt at gaining a foothold in a continent that offers a last opportunity for major subscriber growth. Full Article Toyota head to brief on recalls in Tokyo on Feb 17 February 15, 2010 06:24 AM ET TOKYO (Reuters) - The president of Toyota Motor Corp will hold a briefing on Wednesday in Tokyo to update on the progress of a massive global recall that has tarnished the reputation of the world's largest car maker. Full Article Japan GDP jumps as stimulus masks deflation crisis February 15, 2010 06:24 AM ET TOKYO (Reuters) - Japan's economy grew faster than expected in the fourth quarter with a stimulus-fueled rebound in domestic demand and a corporate investment revival masking rising deflationary pressure and the risk of a slowdown in 2010. Full Article

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