Business Today: European shares lifted by central bank hopes

		Click to View in Browser 09/3/2012 European shares lifted by central bank hopes LONDON (Reuters) - European shares crept higher on Monday after weak factory data highlighted the poor health of the global economy, keeping alive talk of fresh stimulus from major central banks. At Jackson Hole, a growing fear for Fed independence JACKSON HOLE, Wyoming (Reuters) - Increasing political encroachment on the Federal Reserve, particularly from the Republican Party, could threaten the central bank's hard-won independence and undermine confidence in the nearly 100-year old institution. U.S. Steel, union reach tentative agreement NEW YORK (Reuters) - United Steelworkers said on Sunday it reached a tentative agreement with U.S. Steel on a three-year labor contract for more than 16,000 workers employed at the company's U.S. facilities. Barclays sees Middle East driving investment bank DUBAI (Reuters) - The Middle East will be an important growth area in coming years for investment banks, including Barclays , as local wealth funds put their oil dollars to work buying European assets, a senior executive at the British bank said. ECB should only supervise big banks: Schaeuble BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble rejected on Monday a European Commission plan to give the European Central Bank sweeping powers to monitor all euro zone banks, saying it should instead focus only on systemically important institutions. Shareholders look to sue RBS over rights issue: newspaper LONDON (Reuters) - Shareholders in Royal Bank of Scotland are in talks with litigation funds with a view to launching a formal 3.3 billion pound ($5.24 billion) fund lawsuit against the bank, the Times reported on Monday. German court holds euro zone fate in its hands BERLIN (Reuters) - Germany's Constitutional Court holds the fate of the euro in its hands when it rules next week on whether a crucial euro zone financial rescue fund can go ahead. China ex-minister says foreign auto JV policy "like opium": report (Reuters) - China's policy of requiring all foreign car makers to form local joint ventures is "like opium" for Chinese firms and is failing to foster world-class indigenous automakers, a former minister was quoted as saying. China factory surveys signal economic growth easing into Q3 BEIJING (Reuters) - China's vast manufacturing sector has been badly hit by slowing new orders, two complementary surveys showed, a sign that the pace of growth in the world's second-largest economy will weaken well into the third quarter and possibly beyond. Euro zone factories faltering as core crumbles LONDON (Reuters) - The euro zone manufacturing sector contracted faster than previously thought last month, despite factories cutting prices, as core countries failed to provide any support, a survey showed on Monday. Related Video Market Pulse: Investors load up gold, platinum. Too loaded? Breakingviews: Bankia's fishy DIY recap Economic News Bernanke says Fed ready to act but short on specifics Central banks debate limits of power at Jackson Hole A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend