Reuters Business Report at 0930 GMT

Published: 07 Jan 2009 01:37:21 PST

REUTERS BUSINESS REPORT

Tuesday, Jan 6, 2009

Editors and times (in GMT):

Sophie Walker +44 207 542 9168 -- 0930, 1330

Brian Moss +1 646 223 6200 -- 1430, 1830

Mathew Veedon +65 6870-3825 -- 0230, 0630

TOP HEADLINES

MOSCOW/KIEV - Bulgaria says Russia gas supplies via Ukraine halted

LONDON - Dire data underlines Europe recession; Toyota to shut plants

TOP STORIES

SOFIA/MOSCOW - Bulgaria's government calls a crisis meeting after Russian gas flowing via Ukraine to south-eastern Europe and Turkey was halted in a snowballing row between Moscow and Kiev (RUSSIA-UKRAINE/GAS (WRAPUP 2), tv, pix, graphic, by Anna Mudeva and Christian Lowe, expect by 1030)

LONDON - Dire economic data underlines severity of recession in Europe as it faces new risks from sharp escalation of Russia's gas dispute with Ukraine; in Asia, Toyota says it will shut car factories for 11 days and China warns of social unrest (FINANCIAL/ (TOPWRAP 3), expect by 1000, by Mark Trevelyan, 900 words)

MARKETS

LONDON - Investors bet on a global economic recovery, lifting European and Asian shares for the sixth and seventh sessions in a row, respectively, while the dollar climbs strongly against major currencies (MARKETS-GLOBAL (WRAPUP 3), moved, by Jeremy Gaunt, 500 words)

LONDON - Oil falls as investors take profits after a 5 percent surge overnight due to rising tension in the Middle East and a dispute between Russia and Ukraine over natural gas supplies. (MARKETS-OIL (UPDATE 2), expect by 1000, 500 words)

LONDON - The euro falls broadly on growing market views that the European Central Bank will shift to a more aggressive monetary easing stance as inflation continues to fall back. (MARKETS-FOREX (UPDATE 3), moving shortly, 500 words, by Tamawa Desai)

LONDON - Gold falls more than 2 percent as the dollar continues to rally, while platinum also eases after more disappointing news from the auto sector. (MARKETS-PRECIOUS (UPDATE 4), expect by 1030, by Jan Harvey, 500 words)

LONDON - Copper rises almost 5 percent on buying ahead of an annual reblancing of major commodity indices, but the rally is expected to be short-lived as demand concerns remain. (MARKETS-METALS (UPDATE 3), expect by 1100, by Julie Crust, 550 words)

PARIS/SINGAPORE - U.S. soybean futures extend gains, rising above $10 per bushel for the first time in three months on crop-threatening dry weather in South America and strong Chinese demand. (MARKETS-GRAINS (UPDATE 3), expect by 1230, by Naveen Thukral and Valerie Parent, 500 words)

ECONOMY AND RESOURCES

LONDON - The euro zone private sector services economy shrinks sharply in December and firms cut more jobs than first estimated, a survey shows, opening the way for the European Central Bank to cut interest rates to new lows.

(PMI-SERVICES/EUROPE (UPDATE 1), 1015, by Nigel Davies, 600 words)

BERLIN - German politicians warn the country could soon breach European Union budget rules if it goes ahead with a new 50-billion euro stimulus package to boost the economy (GERMANY-STIMULUS/ (UPDATE 1), expect by 1100, 550 words).

For details on stimulus plans, also see: GERMANY-STIMULUS/TAX (FACTBOX), expect by 1030, 250 words).

LONDON - OPEC oil output fell for a fourth consecutive month in December as members complied more closely with a deal to cut supplies and bolster prices. (OPEC-OIL/SURVEY (UPDATE 2), expect by 1500, by Alex Lawler, 500 words)

SINGAPORE/TOKYO - Iran will cut oil supplies to at least two of its Asian customers by 14 percent this month, sources say, the most visible sign yet of OPEC's No. 2 producer implementing deep output curbs (IRAN-CRUDE/SUPPLIES (UPDATE 2), moved, by Maryelle Demongeot and James Topham, 500 words)

BEIJING - China faces surging protests and riots in 2009 as rising unemployment stokes discontent among migrant workers and university graduates, a state-run magazine says in a blunt warning about unrest in this sensitive year (CHINA-UNREST/ (UPDATE 2), pix, expect by 0930, by Chris Buckley, 750 words)

See also: CHINA-ECONOMY/ (UPDATE 2), moved at 0618, by Jason Subler, 600 words)

WASHINGTON - The new U.S. Congress convenes on Tuesday under pressure to deal with a worsening economy by passing a stimulus package that Barack Obama could sign into law soon after being sworn in as president (USA-CONGRESS/, moved at 0608, by Thomas Ferraro and Richard Cowan, 500 words)

COMPANIES

LONDON - Three of Britain's biggest retailers report better-than-feared Christmas sales figures but warn rising unemployment and plunging house prices will keep trading grim for months to come. (BRITAIN-RETAIL (WRAPUP 1), expect by 1030 GMT, by Mark Potter and James Davey, 700 words)

TOKYO - Toyota Motor Corp is to halt production at its Japanese plants for 11 days in February and March as a sharp slide in U.S. sales has left dealers' lots full of unsold cars. (TOYOTA/ (UPDATE 3) by Chang-Ran Kim, moved, 600 words)

ZURICH - Logitech, the world's largest computer mouse maker, says it plans to cut 15 percent of its salaried workforce and withdrew its fiscal 2009 financial targets, sending its shares sharply lower (LOGITECH/ (UPDATE 3), expect by 1000, by Jason Rhodes, 400 words)

SYDNEY - Babcock and Brown Ltd submits a proposal to its lenders on repaying a short-term debt facility, the Australian investment bank says, adding it expects a response next week, slightly later than flagged (BABCOCK/ (UPDATE 1), moved, 300 words)

HONG KONG - GSR Ventures, a China partner of U.S. venture capital specialist Mayfield Fund, raises $383 million for a new fund that will invest in Chinese technology companies (GSR-MAYFIELD/CHINA (UPDATE 1, INTERVIEW), moved at 0438, by George Chen, 600 words)

SINGAPORE - Singapore property fund manager ARA Asset Management plans to launch country-focused funds for China, India and Japan to take advantage of declining real estate prices that it expects will bottom in 2009 (PROPERTY/ARA-FUND/ (UPDATE 1), moved, by Kevin Lim, 500 words) HONG KONG - Deutsche Bank's Chinese securities joint venture wins regulatory approval from Beijing, becoming the latest Western institution to gain access to China's restrictive domestic capital markets (DEUTSCHE-CHINA/ (UPDATE 1), moved at 0506, 300 words)

SEOUL - LG Electronics Inc, the world's largest maker of home air conditioners, is targeting a 10 percent increase in air conditioner sales in 2009 despite the economic downturn, a top executive says (LG-AIRCON (UPDATE 1), moved at 0505, by Rhee So-eui, 350 words)

SAN FRANCISCO - Hewlett-Packard Co is unveiling a host of cost-conscious PC products, including a new netbook targeted at professionals, a pair of ultra-light notebooks, and a new gaming and multimedia PC (CES/HP, moved at 0501, by Gabriel Madway, 500 words)

SAN FRANCISCO - Microsoft Corp sells 28 million units worldwide of its Xbox 360 video game console through the end of 2008, expanding the Xbox's lead over rival Sony Corp's PlayStation 3 console in worldwide unit sales, the company says (MICROSOFT/XBOX (UPDATE 1), moved at 0229, 300 words)

ANALYSIS/FEATURES

BEIJING - China's government is using the collapse in commodity prices to further its domestic agenda, with support for stricken sectors tailored to speed up reform plans rather than rescue ailing companies or prop up prices (CHINA-COMMODITIES/