Reuters Business Report at 0240 GMT

Published: 08 Apr 2009 18:44:53 PST

NEW! Receive this sked by email: www.reuters.com/skeds

REUTERS BUSINESS REPORT

Thursday, April 9, 2009

Mathew Veedon and Sonya Hepinstall +65 6870-3827

0230, 0630 GMT

Jason Neely +44 207 542 8825

0830, 1230 GMT

Picture Desk: Singapore +65 6870 3775

Graphics queries: +65 6870 3595

(All times GMT) ---------------------------------------------------------------

TOP STORIES

Japan eyes $154 billion stimulus, bonds sink

TOKYO - The Japanese government should spend a bigger-than-expected 15.4 trillion yen ($154 billion) on economic stimulus, the ruling party says, causing bond yields to sink but boosting stocks in sectors seen benefiting from the higher spending (JAPAN-ECONOMY/ (UPDATE 2), expect by 0400, by Sumio Ito, 600 words)

South Korea holds rates again as turnaround sighted

SEOUL - South Korea's central bank holds interest rates steady at a record low for a second consecutive month, as expected, and says Asia's fourth-largest economy was levelling off after a rapid decline (KOREA-ECONOMY/ (UPDATE 2), moving shortly, pix, by Seo Eun-kyung, 600 words)

US carmakers to aid suppliers, GM to meet Task Force

DETROIT/FRANKFURT - General Motors Corp and Chrysler launched government-backed assistance programs for parts suppliers on Wednesday, and the task force overseeing the carmakers' restructuring was expected to meet with GM this week to speed up the process (AUTOS/ (WRAPUP 2), moved, by David Bailey and Christiaan Hetzner, 900 words)

Moody's strips Berkshire Hathaway of top rating

NEW YORK - Moody's Investors Service cut its credit ratings on Berkshire Hathaway Inc from Aaa, the top rating, saying the recession and investment losses at insurance operations of investor Warren Buffett's holding company reduced its ability to support funding needs (BERKSHIRE-RATING/MOODYS (UPDATE 3), moved, by Lilla Zuill and Karen Brettell, 1,000 words)

MARKETS

Asia stocks gain on tech, Aussie dips

HONG KONG - Asia stocks push back towards a six-month high on Thursday as technology shares resumed their rally, while the Australian dollar dipped after data showing unemployment hitting a five-year high showed the ongoing economic damage from the financial crisis (MARKETS-GLOBAL (WRAPUP 1), expect by 0400, by Eric Burroughs, 600 words)

Yen slips vs dlr, but supported by low risk appetite

TOKYO - The yen slips against the dollar but remains well-supported as investors hesitate to return to riskier assets ahead of earnings reports by major U.S. banks next week and the Easter holiday weekend (MARKETS-FOREX (UPDATE 1), expect by 0330, by Charlotte Cooper, 600 words)

Oil rises above $50 on distillates draw, equities

SINGAPORE - Oil rises above $50 as the market focuses on a large draw in U.S. distillates inventories and stronger equity markets, shrugging off crude stocks at a new 16-year high and a grim U.S. economic outlook (MARKETS-OIL, moving shortly, by Maryelle Demongeot, 500 words)

FINANCIAL CRISIS

Japan stimulus tops expectations, Korea holds rates

TOKYO/SEOUL - Japan should spend a larger-than-expected $154 billion to stimulate its economy, the country's ruling party says, but South Korea's central bank leaves interest rates unchanged and says the economy there is levelling off after a rapid decline (FINANCIAL/ (TOPWRAP 1), expect by 0400, pix, TV, graphic, by Sumio Ito and Yoo Choonsik, 800 words)

SEC seeks comments on rules to limit short selling

WASHINGTON - U.S. securities regulators ask for public comments on proposed rules to limit short selling, an investing strategy blamed by some investors and executives for worsening the financial crisis and driving down share prices (SHORTSELLING/ (WRAPUP 3), moved, by Rachelle Younglai and Karey Wutkowski, 1,000 words)

COMPANIES

Hynix shares drop on $500 mln rights plan

SEOUL- Shares in Hynix Semiconductor fall on news that it may be allowed to raise up to $520 million in a rights offering as the memory chip industry attempts to recover from its worst-ever downturn (HYNIX/RIGHTSOFFERING (UPDATE 2), expect by 0430, by Marie-France Han and Kim Yeon-hee, 600 words)

Upcoming bank results likely to show more losses

NEW YORK - U.S. banks' first-quarter results will show that losses from credit cards and commercial and real estate loans have not yet peaked, and perhaps dash hopes that the worst of the banking crisis has passed (BANKS/ (PREVIEW, UPDATE 1), moved, by Jonathan Stempel, 1,000 words)

Pulte to buy rival homebuilder Centex for $1.3 billion

NEW YORK - Pulte Homes will buy rival Centex Corp. in a $1.3 billion all-stock deal to create the largest U.S. homebuilder, in what may be the first big merger in the consolidation of the badly beaten-up sector (CENTEX-PULTE/ (UPDATE 4), moved, by Ilaina Jonas, 1,000 words)

ANALYSIS

Time, and options, not on MGM Mirage's side

LOS ANGELES - MGM Mirage is racing to beat the clock as it faces a deadline to restructure its finances and Wall Street fears it is running out of options to pull it off (MGMIRAGE, moved, by Deena Beasley, 900 words)

Collapse of IBM deal could weaken Sun even more

BOSTON - Sales at Sun Microsystems Corp , already under pressure, could take a further hit from the collapse of IBM's multibillion dollar bid (SUNMICRO/CUSTOMERS, moved, by Jim Finkle, 800 words)

FEATURES

Caste battles development in India's lawless east

PATNA, India - There's an old joke in India's eastern state of Bihar: "People don't cast their votes, they vote for their caste." Caste allegiances have dominated the political landscape of Bihar, a possible swing state in the country's April-May general election, as well as much of India, for decades. But a Hindu nationalist-led alliance hopes to sweep this state known for extreme poverty, crime and corruption on a platform of caste-blind development (INDIA-ELECTION/BIHAR, moved, by Matthias Williams, pix, 900 words)

German town looks to state for lifeline

HERZOGENAURACH, Germany - It has neither train station nor cinema, but this Bavarian town has not been bypassed by globalisation. Ambition and leverage have brought it to its deepest crisis since World War Two.(GERMANY/HERZOGENAURACH (BUSINESS FEATURE), moved, pix, by Eva Kuehnen, 900 words)

Las Vegas trophy project becomes symbol of trouble

LAS VEGAS, - It was conceived as the centerpiece of a thriving Las Vegas -- one of the world's most expensive building projects that would bring back glamour to the Strip and cap an unprecedented three-year economic boom. Instead the $9 billion development named CityCenter -- touted as the city's most ambitious endeavor -- has come to symbolize a global retail and leisure slump and the city's struggles to come to grips with crushing unemployment and dwindling casino revenue.