Morning in brief: US agrees tax deal, UK Uncut starts Goldman legal challenge

Asian markets rise on positive US unemployment news, while the new Spanish government appoints former Lehman Brothers executive Luis de Guindos as its economic minister.

Markets

Asian shares rise after economic data coming out the US shows the country’s unemployment rate has dropped to a three-year low, according to Reuters.

However, the Daily Telegraph reports that Fitch has cut its growth outlook for Asian countries as a result of the weak global economy and policy tightening measures in some countries.

International

Republicans in the US House of Representatives agree to extend payroll tax cuts for the first two months of next year, avoiding the need for the country to implement a sudden tax hike on January 1 2012, the Financial Times reports.

Christmas

UK consumers have finally begun to hit the shops in the approach to Christmas, says the Financial Times, but retailer concerns of poor trading still remain.

Europe

Bank of England governor Mervyn King has warned that the outlook for financial stability has worsened in recent months, writes Bloomberg.

The new Spanish prime minister Mariano Rajoy has named his new cabinet, which will include former Lehman Brothers executive Luis de Guindos, according to the BBC.

Companies

Pressure group UK Uncut opens legal proceedings against Goldman Sachs to force the US investment bank to pay more tax to UK authorities, says the BBC.

China’s fourth-biggest coal producer, Yanzhou Coal Mining, finalises a deal to buy Sydney-based Gloucester Coal for about A$2.1 billion (£1.4 billion) and gain more Australian mines and port access, according to Bloomberg.

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