Europe pulls back from brink amid debt relief signs
Europe shows cautious relief after lower borrowing costs and better debt auctions three weeks into the year. France and Spain sold bonds at lower yields despite downgrade fears, while Portugal reported strong debt sales and stock indices across major markets climbed toward pre-crisis levels. Greece remains a lingering risk with private creditor talks looming.
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Iran shutters shops selling Barbie dolls in Tehran
Police close dozens of toy shops in Tehran for selling Barbie dolls as part of a long crackdown on Western culture. Mehr News Agency quotes officials saying the dolls were seized in a "new phase" of the campaign amid past bans and competing traditional dolls efforts.
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Tehran
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Mehr
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Dara
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December housing shows first steady upturn in a year
December home sales rose 5 percent to a 4.61 million annual pace, the best since January 2011, signaling a cautious housing rebound as mortgage rates stay low and construction picks up. Economists caution that overall volumes remain historically weak and will take years to normalize.
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Washington
Paul Dales
Capital Economics
National Association of Realtors
U.S
Ian Shepherdson
Kodak given 2013 deadline to reorganize bankruptcy plan
Kodak must deliver a reorganization plan by February 15, 2013 under bankruptcy financing terms after securing a 950 million dollar financing package from Citigroup. Judge Gropper allowed an initial 650 million loan and set a June 30 deadline to seek approval of bidding procedures for 1100 patents potentially worth about 2 billion.
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Rochester
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