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Exclusive: Iran defaults on rice payments to India
Reuters
The middlemen receive payments from Iranian importers in rial and pay Indian exporters in US dollars. The consignments are sent directly from India to Iran. But Indian traders said the defaults started after the rial plunged over the past month,

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CTV.ca
Investors resist mining firm merger
The Press Association
Mining heavyweights Glencore and Xstrata want to merge and form a company worth 90 billion US dollars (£57 billion) – but must secure the backing of 75% of Xstrata and Glencore shareholders in separate votes, as well as regulatory approval, to proceed.
Mining Giants Glencore And Xstrata Announce Merger Deal To Create Firm Worth £57bnHuffington Post UK
FTSE CLOSE: Greece debt deal delays unsettle investors; BP hikes dividendThis is Money
Greek fears keep London market downexpressandstar.com

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Allot Communications Reports 10% Revenue Rise and Continued Net Profit Growth
Sacramento Bee
AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (US dollars in thousands, except share and per share data) Three Months Ended Year Ended December 31, December 31, ————————- ————————– 2011 2010 2011 2010

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ArcelorMittal reveals £632m loss
The Press Association
ArcelorMittal reported a profit of 659 million US dollars (£416 million) in the third quarter of last year. The company said its net income was hit by 1.3 billion US dollars (£821 million) in charges for deferred taxes, restructuring and impairments.

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Allot Communications Reports 10% Revenue Rise and Continued Net Profit Growth
PR Newswire (press release)
AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (US dollars in thousands, except share and per share data) Three Months Ended Year Ended December 31, December 31, ————————- ————————– 2011 2010 2011 2010

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Telegraph.co.uk
BP increases shareholder payout
The Press Association
Meanwhile, the group said that, as of December 31, it had paid out 7.5 billion US dollars (£4.7 billion) for individual, business and government claims since the incident, which claimed 11 lives, as it prepares to go on trial at the end of this month.
BP Returns to Profit after Mexico Gulf Oil SpillCRIENGLISH.com
Gulf coast oil businesses still suffering as drilling permits slow down after Shanghai Daily (subscription)

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Second Shift Added to Toyota's Mississippi, U.S. Plant
MarketWatch (press release)
TMMMS represents an initial investment of 800 million US dollars. North America constitutes an important market for Toyota's sustainable growth, and Toyota is continuing to promote still greater localization and autonomy of its operations there,

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Wall Street Sector Selector
Gold ETFs Hit Hard By US Dollar (GLD, IAU, SGOL, GDX)
Wall Street Sector Selector
Gold prices and gold ETFs likely dropped today due to investors' demands for US Dollars as a backstop against the ailing Euro dollar. Greece has yet to accept a deficit reduction and write down deal in return for an EU bailout; if a deal is not reached

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US wind firm presses theft charge against
Ninemsn
The United States had accused China of providing several hundred million US dollars in illegal grants since 2008 to wind turbine makers for using Chinese components. Beijing had insisted its policies complied with WTO rules.

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UK firm pays £14m in 'bribery' case
The Press Association
British orthopaedics maker Smith & Nephew has agreed to pay 22.2 million US dollars (£14 million) to settle American criminal and civil allegations that it bribed doctors employed by the Greek government for more than a decade to win business.

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