Business Report at 0245 GMT

REUTERS BUSINESS REPORT

Thursday, November 20, 2008

Sonya Hepinstall and Mathew Veedon +65 6870-3827

0230, 0630 GMT

Jason Neely +44 207 542 8825

0930, 1330 GMT

Picture Desk: Singapore +65 6870 3775

Graphics queries: +65 6870 3595

(All times GMT)

TOP HEADLINES

TOKYO - Japan Oct exports to Asia fall; first time since 2002

SEOUL - South Korean won, stocks slump on export concerns

WASHINGTON - US auto execs testify as lawmakers try for deal

TOP STORIES

TOKYO/BEIJING - Japan's exports to Asia fell for the first time since 2002 in October, signalling the fallout from the credit crisis has spread to neighbours such as China and adding momentum to investors' flight to cash (FINANCIAL (TOPWRAP 1), expect by 0330, pix, by Tetsushi Kajimoto and Jason Subler, 700 words)

SEOUL - South Korea's currency and share prices slump on fears for the country's exporters, with the top regulator quoted as urging the central bank to take more dramatic steps to help (FINANCIAL-KOREA (UPDATE 1), expect by 0500, pix, tv, by Park Jung-youn and Seo Eun-kyung, 650 words)

WASHINGTON - U.S. auto executives go to Capitol Hill for a second day to plead for $25 billion in government aid; legislators try to fashion a last-minute compromise bailout bill that could pass both Congressional and White House muster (AUTOS/BAILOUT (WRAPUP 5), moved at 0044, by John Crawley and Kevin Drawbaugh, 1,000 words)

MARKETS

HONG KONG - A rout in Asia pushes world stocks to their lowest in 5-½ years, while oil falls to below $53 a barrel and government bonds surge on economic data that indicates a global recession could get even uglier (MARKETS-GLOBAL/ (WRAPUP 2), expect by 0400, by Rafael Nam, 600 words)

TOKYO - Risk aversion keeps the yen firm, as fear fuelled by uncertainty over the struggling U.S. auto industry leads investors to cut risk assets and repatriate funds (MARKETS-FOREX (UPDATE 1), expect by 0330, by Chikako Mogi, 600 words)

SINGAPORE - Oil falls for a fifth straight session to below $53 after U.S. crude inventories climb twice as much as expected, signalling demand for fuel is falling (MARKETS-OIL (UPDATE 1), expect by 0600, by Annika Breidthardt, 500 words)

MORE ON THE FINANCIAL CRISIS

TOKYO - Japan's exports log their biggest annual decline in seven years in October, pushing the trade balance into deficit and reinforcing worries the global financial crisis may push the economy deeper into recession (FINANCIAL/JAPAN (UPDATE 2), expect by 0500, by Tetsushi Kajimoto and Leika Kihara, 700 words)

WASHINGTON - Federal Reserve officials have pared their outlook for economic growth through 2009 to minimal levels and are prepared to cut interest rates further, while concern has risen that a deflationary spiral may take hold (USA-FED/ (WRAPUP 1), moved at 2305, by Mark Felsenthal, 900 words)

WASHINGTON - The International Monetary Fund says its board approved a $2.1 billion loan for Iceland to try to stabilise what the fund called a "banking crisis of extraordinary proportions" (FINANCIAL-IMF/ICELAND (UPDATE 3), moved at 0207, by Emily Kaiser, 700 words)

ANALYSES

MELBOURNE/SYDNEY - Australian companies, frozen out of debt markets, are rushing to shareholders for cash to protect themselves in an economic slump, pumping up activity for brokers in an otherwise gloomy market (EQUITYRAISINGS-AUSTRALIA/(ANALYSIS), expect by 0800, by Sonali Paul and Denny Thomas, 800 words)

NEW YORK - Two days after Circuit City Stores Inc went belly up last week, nine of its 14 analysts rated the electronics retailer a "hold". Despite some bold statements, analyst calls usually lag the news, not the other way around (USA-ANALYSTS/PERFORMANCE (ANALYSIS), moved at 2233, by Deepa Seetharaman, 800 words)

BRUSSELS/LONDON - Anheuser-Busch InBev, the world's new biggest brewer, faces a tough task to sell assets and launch a rights issue in coming months to pay down big debts after completing the largest cash takeover in history (ABINBEV (ANALYSIS), moved at 1535, by David Jones and Philip Blenkinsop, 800 words)

ECONOMY AND RESOURCES

TAIPEI - Taiwan's economic growth probably fell to the slowest pace in five years in the third quarter, the government is expected to report when it releases GDP data after market close (TAIWAN-ECONOMY/GDP, expect by 0915, pix, by Lee Chyen Yee and Jeanny Kao 100 words)

WASHINGTON - Consumer prices dropped at the fastest rate on record in October and new-home building slumped to record lows, according to government reports that suggest the economy likely is already in a recession that may be long and deep (USA-ECONOMY/ (WRAPUP 2), moved at 2144, by Glenn Somerville, 800 words)

COMPANIES

SYDNEY - As initial public offers evaporate in front of the bonfire that is global equity markets, a small Chinese firm that makes fancy mahjong tables is stepping, undaunted, toward the flames (MAHJONG/, moving shortly, pix, by Mark Bendeich, 600 words)

SEOUL - South Korea says will offer up to $1 billion of financing to Brazilian iron ore miner Vale as the resource-hungry Asian country seeks to bolster its interest in mining projects (KOREA-VALE/ (UPDATE 1), expect by 0300, by Miyoung Kim, 500 words)

NEW YORK - Citigroup Inc faces a crisis of confidence as investors question the survival prospects of the U.S. banking giant and its shares tumble 23 percent to a 13-year low (CITIGROUP/ (WRAPUP 1), moved at 2318, by Jonathan Stempel, 1,000 words)

FEATURES

BRUSSELS/LONDON - As the financial crisis hit a climax in Belgium with the split-up of its largest bank in October, new clients were rushing to a small bank, Triodos, which invests not in derivatives but in tangible products such as wind turbines (FINANCIAL-BANKS/ETHICAL (BUSINESS FEATURE), moved at 0004, pix, by Ingrid Melander and Lorraine Turner, 1,000 words)

SEKAYU, Indonesia - Since Indonesia launched a decentralisation strategy nearly a decade ago, foreign investors have learned that the sprawling Southeast Asian archipelago is really a patchwork of districts, some business-friendly, others profligate, and picking the right region can make a big difference (INDONESIA-DECENTRALISATION/ (BUSINESS FEATURE), moved at 0003, pix, by Sara Webb, 950 words)

BOSTON - Well-paid, free-spending financial services executives are holding off on planning parties, making home improvements and ordering up other services, putting pressure on small businesses near U.S. financial centers (FINANCIAL/SMALLBUSINESS (BUSINESS FEATURE), moved at 0003, pix, by Jim Finkle and Scott Malone, 800 words)

GARDABAER, Iceland - On a quiet Sunday in the "Lazy Town" warehouse, the man many of the world's children know as Sportacus was working up some optimism for Iceland (FINANCIAL/LAZYTOWN