Business Today: Wall Street set for rally in wake of fiscal pact

		Click to View in Browser 01/2/2013 Wall Street set for rally in wake of fiscal pact NEW YORK (Reuters) - Wall Street was set to rally on the first trading day of 2013, after lawmakers agreed a deal to avoid massive tax hikes and spending cuts that had threatened to hurt economic growth. United States avoids calamity in "fiscal cliff" drama WASHINGTON (Reuters) - The United States averted economic calamity on Tuesday when lawmakers approved a deal to prevent huge tax hikes and spending cuts that would have pushed the world's largest economy off a "fiscal cliff" and into recession. Euro zone factory slump deepens but Asia perks up LONDON/SINGAPORE (Reuters) - Euro zone factories sank deeper into recession in December as new orders tumbled, business surveys showed on Wednesday, a sharp contrast to continuing signs of revival in China. Apple testing new iPhone, iOS 7: report (Reuters) - Apple Inc has started testing a new iPhone and the next version of its iOS software, news website The Next Web reported. ArcelorMittal to sell $1.1billion stake in Canadian unit SEOUL/BRUSSELS (Reuters) - ArcelorMittal , the world's biggest steelmaker, will sell a 15 percent stake in one of its Canadian iron ore operations, raising $1.1 billion to help pay off debt at a time of sluggish demand. U.S. fiscal cliff deal prompts broad global market rally LONDON (Reuters) - A long-awaited deal to avoid a U.S. fiscal crisis prompted a broad global market rally on Wednesday, with shares and commodities rising sharply while the dollar and safe-haven government bonds fell. Small-business borrowing rises in November NEW YORK (Reuters) - Borrowing by small U.S. businesses rose marginally in November, indicating they were essentially on hold in terms of growing their enterprises in the face of economic and government fiscal uncertainty, a report on Wednesday showed. Avis to buy Zipcar as slow economy boosts car-share business (Reuters) - Car rental company Avis Budget Group Inc will buy Zipcar Inc for about $500 million in cash to join larger rivals Hertz Global Holdings Inc and Enterprise Holdings Inc in the fast-growing U.S. car-sharing market. Analysis: Russia helps farmers, consumers by allowing grain exports MOSCOW (Reuters) - Russia's decision not to ban grain exports after another poor harvest shows its leaders recognize that the embargo imposed after the failed 2010 crop was a mistake. UK factory activity unexpectedly rebounds in December: PMI LONDON (Reuters) - British factory activity jumped unexpectedly in December to grow at its fastest pace since September 2011, a survey showed on Wednesday, raising the chance that the economy eked out growth at the end of 2012. Related Video U.S. Morning Call: Stock futures surge on fiscal deal Market Pulse: Cliff dodged, ceiling looms Economic News United States avoids calamity in "fiscal cliff" drama After fiscal win, Obama warns Congress on debt fight 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