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November 27 2012, 08:12AM

A roundup of news in finance, economics and business from around the world:


WASHINGTON - US President Barack Obama has made Treasury Secretary Timothy Geithner lead White House negotiator in budget talks with Congress aimed at averting the fiscal cliff, a report says.

WASHINGTON - The White House has urged the US Congress to help to avert a major fiscal crisis in a report highlighting how new tax increases and spending cuts could deal body blows to retailers and consumer spending.

BRUSSELS - The first injection of eurozone loans to recapitalise Spain's broken banking system will amount to 37 billion euros ($A46 billion), Spain's Finance Minister Luis De Guindos says.

OMAHA, Nebraska - Billionaire Warren Buffett is again calling for higher taxes on America's "ultrarich" and he's urging Congress to compromise on spending cuts and tax increases.

DUBAI - Dubai's economy has grown 4.1 per cent in the first half of 2012 compared with the same period last year as tourism booms in the glitzy city-state, the statistics centre says.

LONDON - Britain has named Canadian central bank chief Mark Carney as the new Bank of England governor, picking the first ever foreigner to lead the institution through a period of enormous change.

WASHINGTON - US Securities and Exchange Commission chief Mary Schapiro has announced she will step down, nearly four years after taking charge of the key markets regulator in the middle of the financial crisis.

PARIS - A showdown between global steel giant ArcelorMittal and France over its Florange plant has hit new heights with a minister threatening to nationalise the site and saying the company is no longer welcome in the country.

LONDON - Britain has awarded its first new nuclear power plant site licence for 25 years to French energy giant EDF, which is looking to build a new station in southwest England.

NEW DELHI - Indian and Chinese companies have signed agreements worth billions of dollars as the two emerging market giants sought to broaden commercial ties despite political tensions.

ROME - Italy's ILVA steel mill which employs thousands of workers has announced it is suspending operations after a magistrate issued seven arrest warrants for managers and ordered production seized.

NEW DELHI - Indian state-run energy giant ONGC has agreed to buy ConocoPhillips' 8.4-per cent stake in an Kazakhstan oil field for $US5 billion ($A4.80 billion) as it seeks fuel to feed the South Asian nation's growing economy.

NEW YORK - McGraw-Hill says it has reached a deal to sell its education arm to private equity firm Apollo Global Management for $US2.5 billion ($A2.4 billion) in cash and debt, as part of its plan to focus on its financial information businesses.

NEW YORK - A bogus news release has prompted several websites to run incorrect articles about Google making a $US400 million ($A384.26 million) acquisition of a wireless company, the target company says.

SAN FRANCISCO - Yahoo's share price has touched $US19 for the first time in more than two and half years.

OTTAWA - The oldest company in North America, Canadian department store operator Hudson's Bay Company, has announced it's gone public.

WELLINGTON - Fulton Hogan has got Overseas Investment Office approval to sell forestry estates in Otago as it looks to flog off non-core assets to strengthen its balance sheet.

WELLINGTON - The New Zealand dollar fell after stock markets faltered on news European finance chiefs were still at loggerheads over granting Greece its next round of bailout cash.


SYDNEY - The Australian dollar is unchanged as markets wait to see if euro zone finance ministers approve an aid package for Greece.

SYDNEY - The Australian market looks set to open flat following a mixed performance on Wall Street and as markets await the outcome of a eurozone ministers meeting on a Greek bailout package.