WALL-STREET
NEW YORK (AP) — Wall Street capped the most recent trading session with a positive tone, enabled by a better than expected jobs report.
The key averages were restrained by the continued decline in the value of Apple stock, weighing mostly on the Nasdaq but also on the S&P 500.
For the week, the Dow rose 130 points, or 1 percent.
The S&P gained about 2 points, while the Nasdaq fell 1.1 percent.
With time running out on 2012, the key averages are up between 8 and 14 percent, year-to-date.
WORLD MARKETS
Asia stocks rise
BANGKOK (AP) — Rising factory output in China and better-than-expected U.S. hiring helped lift Asian stock markets modestly on Monday.
Investors delved into riskier assets a day after China's National Bureau of Statistics reported that factory output increased 10.1 percent from a year earlier in November, a sign of recovery in the world's No. 2 economy.
Benchmark crude oil rose above $86 per barrel. The dollar rose against the euro and the yen.
ECONOMY-WEEK AHEAD
Events coming up this week include Fed meeting
WASHINGTON (AP) — The Federal Reserve holds a two-day interest rate meeting this week, and Chairman Ben Bernanke will hold a news conference. On Wednesday, he'll give his assessment of the economy and comment on the outlook.
Also this week, the Commerce Department reports on November retail sales, due Thursday.
Friday brings the Consumer Price Index and a report on industrial production.
FISCAL CLIFF
Obama, Boehner meet to discuss 'fiscal cliff'
WASHINGTON (AP) — Administration officials say President Barack Obama and House Speaker John Boehner met Sunday at the White House to discuss the ongoing negotiations over the impeding "fiscal cliff."
Spokesmen for both Obama and Boehner said the two men agreed to not release details of the conversation, but emphasized that the lines of communication remain open.
The meeting comes as the White House and Congress try to break an impasse over finding a way to stop a combination of automatic tax increases and spending cuts scheduled to kick in at the beginning of the year.
GREECE-FINANCIAL CRISIS
Greek PM: bond buyback going 'very well'
ATHENS, Greece (AP) — State TV NET reports that Greece's prime minister says the bond buyback scheme aimed at lessening the crisis-hit country's debt load is "going very well" and that he will have definite results Monday or Tuesday.
Antonis Samaras visited Munich, where he had talks with Bavarian governor Horst Seehofer. Finance Minister Yannis Stournaras has also made the trip Sunday.
The government had initially said an announcement would be made over the weekend.
The government has said it will spend about €10 billion ($13 billion) in European funds on the buyback, offering between 30 and 40 percent of the bonds' face value.
The bond buyback, along with a tax bill to be introduced Tuesday, will clear the way for the release of €34 billion ($44 billion) in rescue loans.
CHINA TRADE
China November trade weakens
BEIJING (AP) — China's November trade growth decelerated sharply, with import growth falling to zero, despite signs the world's second-largest economy is recovering from a slowdown.
The government reported Monday that export growth declined to 2.9 percent over a year ago from the previous month's 11.6 percent. Import growth fell from October's 2.4 percent.
Analysts had forecast a slowdown in a trade rebound that began in August, which they said was unsustainable due to weak global demand.
The government reported earlier that November factory output grew 10.1 percent and consumer spending rose 14.9 percent, a sign China is recovering from a slump that pushed growth to a three ½ year low in the quarter ending September. Forecasters say growth likely is rebounding in the current quarter.
GAS PRICES
Gas prices drop 10 cents over past 3 weeks
CAMARILLO, Calif. (AP) — The average U.S. price of a gallon of gasoline has dropped ten cents over the past three weeks.
That's according to the Lundberg Survey of fuel prices, released Sunday, which puts the price of a gallon of regular at $3.38.
Midgrade costs an average of $3.55 a gallon, and premium is $3.69.
Diesel dipped two cents to $4.02 a gallon.
Of the cities surveyed in the lower 48 states, Memphis, Tenn., has the nation's lowest average price for gas at $3.04. Long Island, N.Y. has the highest at $3.85.
AIG--INTERNATIONAL LEASE FINANCE SALE
AIG sells 90 pct of plane leasing unit for $5.28B
NEW YORK (AP) — American International Group Inc. says it will sell up to 90 percent of its airplane leasing unit International Lease Finance Corp. to an investor group led by Weng Xianding, chairman of New China Trust Co. Ltd., for approximately $5.28 billion.
The investor group, which includes New China Trust, China Aviation Industrial Fund and P3 Investments Ltd., will acquire 80.1 percent of ILFC for approximately $4.23 billion, with an option for an additional 9.9 percent stake. AIG will keep at least 10 percent of the company.
ILFC will remain based in Los Angeles. The agreement needs approval from U.S. and Chinese regulatory authorities.
New York-based AIG has been selling off subsidiaries to raise money to pay back its $182 billion bailout from the government during the economic meltdown.
A123 BANKRUPTCY
Chinese company wins bid for battery maker A123
NEW YORK (AP) — Bankrupt battery maker A123 Systems Inc. says it will sell most of its assets to the U.S. arm of Chinese auto parts conglomerate Wanxiang Group Corp. for $256.6 million.
Chicago-based Wanxiang America Corp. won an auction conducted under the supervision of the U.S. Bankruptcy Court. The deal includes facilities in Michigan, Massachusetts and Missouri, among other assets
A123's government business will be sold separately, for $2.25 million, to Navitas Systems, of Woodridge, Ill.
A hearing seeking the necessary court approval is scheduled for Tuesday.
Waltham, Mass.-based A123, which makes lithium ion batteries, was awarded a $249 million grant from the Department of Energy in August 2009 to help it build U.S. factories. About $130 million of that was delivered before the company fell victim to the lackluster electric car market.
YAHOO-NBC SPORTS DEAL
NBC Sports partners with Yahoo for content deal
NEW YORK (AP) — NBC Sports Group and Yahoo have announced a content deal that combines the website's sports reporting with its partner's digital assets and television access.
Yahoo Sports and the NBC Sports Group will maintain separate websites and newsrooms, but will work together on news and events coverage online and on the air.
Mark Lazarus, the chairman of NBC Sports Group, says "The complementary nature of this partnership is unmatched in digital sports media."
The two companies announced the agreement on Sunday.
ANTIGUA-US-INTERNET GAMBLING
Antigua pursues sanctions against US
KINGSTON, Jamaica (AP) — Antigua & Barbuda will pursue trade sanctions against the United States as a result of its online betting ban.
Antigua Finance Minister Harold Lovell told The Associated Press on Sunday that the Caribbean country has had its "back pushed right up against the wall." He says it intends to pursue $21 million in annual sanctions on U.S. goods unless a last minute settlement is reached.
Antigua's access to the U.S. gambling market was effectively blocked by a 2006 U.S. law barring banks and credit card companies from processing payments to online gambling sites outside the country.
In 2007, the World Trade Organization awarded Antigua the right to target U.S. services, copyrights and trademarks.
The WTO ruling capped the annual trade sanctions at $21 million per year.
BOX OFFICE
'Skyfall,' 'Guardians' duel for box-office win
LOS ANGELES (AP) — James Bond is in a box-office photo finish with Santa Claus and the Easter Bunny.
According to studio estimates Sunday, the Bond tale "Skyfall" took in $11 million to move back to No. 1 in its fifth weekend.
That puts it narrowly ahead of "Rise of the Guardians," the animated adventure of Santa, the Easter Bunny and other mythological heroes that pulled in $10.5 million.
The two movies inched ahead of "The Twilight Saga: Breaking Dawn — Part 2," which had been tops for three-straight weekends. The "Twilight" finale earned $9.2 million, slipping into a tight race for No. 3 with "Lincoln," which was close behind with $9.1 million.
The only new wide release, Gerard Butler's romantic comedy "Playing for Keeps," flopped with $6 million, coming in at No. 6.
