AP Business NewsBrief at 6:35 p.m. EST
(Associated Press Via Acquire Media NewsEdge) Global regulators agree on bank asset rulesBERLIN (AP) _ International banking regulators agreed Sunday on global rules meant to ensure banks keep enough cash in hand to survive future market crises, and gave banks until 2019 to comply fully. The rules will require banks in future to hold enough cash, and assets such as equities, corporate and government bonds that can easily be sold, to tide them over during an acute 30-day crisis.
Lenovo to release giant 27-inch 'coffee table PC'LAS VEGAS (AP) _ Dismayed that family members are spread out over the house, each with a separate PC or tablet Lenovo has something it believes will get them back together: a PC the size of a coffee table that works like a gigantic tablet and lets four people use it at once. Lenovo Group Ltd., one of the world's largest PC makers, is calling the IdeaCentre Horizon Table PC the first "interpersonal computer" _ as opposed to a "personal computer."
WSJ says Hostess in talks to sell bread brandsNEW YORK (AP) _ The makers of Thomas' English muffins and Tastykake snacks are emerging as the two of the bidders for Wonder Bread and other Hostess bread brands as the company tries to sell off its assets under bankruptcy-court oversight, a newspaper reported Saturday. The Wall Street Journal said Hostess Brands Inc. could reveal as early as next week that Flowers Foods Inc. and Grupo Bimbo SAB are in discussions to acquire the bread brands, which also include Nature's Pride. The report said the brands could command $350 million.
No movement: Lawmakers dig in heels on debt crisisWASHINGTON (AP) _ Congressional leaders on Sunday showed no signs of emerging from their corners to resolve the next step in the financial crisis, with Democrats still talking about higher taxes on the wealthy and the Senate's top Republican suggesting that a crippling default on U.S. loans was possible unless there were significant cuts in government spending. "It's a shame we have to use whatever leverage we have in Congress to get the president to deal with the biggest problem confronting our future, and that's our excessive spending," said Sen. Mitch McConnell, R-Ky.
Obama signs bill for Sandy flood insurance claimsWASHINGTON (AP) _ President Barack Obama has signed into law a $9.7 billion bill to pay flood insurance claims from Superstorm Sandy. The law increases the borrowing authority of the Federal Emergency Management Agency. FEMA had warned that it was set to run out of money without additional dollars from Congress.
Money for college athletes: not if, but howMIAMI (AP) _ After decades when paying college athletes was thought to violate the spirit of amateurism, the enormous television revenue generated by sports _ football and basketball in particular _ and the long hours of work by the players have changed the debate. The head of the NCAA now supports a stipend for athletes to cover costs beyond tuition, books and fees, and both coaches in Monday's BCS championship between No. 1 Notre Dame and No. 2 Alabama spoke in support of the idea in the days before the game.
Fishermen hoping for help with Sandy storm lossesMIDDLETOWN, N.J. (AP) _ While Superstorm Sandy did highly visible damage to homes, boardwalks and roads, it also walloped the Northeastern fishing industry, whose workers are hoping for a small piece of any future disaster assistance that Congress might approve. The storm did millions of dollars' worth of damage to docks, fish processing plants and restaurants. But it also caused millions more in lost wages to boat employees who couldn't work for two to three weeks, to truck drivers who had nothing to transport, and to other assorted industries that service commercial fishing.
HBO will continue screening Universal moviesNEW YORK (AP) _ HBO has renewed its deal with Universal Pictures to be the exclusive pay-TV provider of the studio's movies for another decade, the companies said on Sunday. Financial terms of the agreement were not disclosed. HBO, part of Time Warner Inc., and Universal Pictures, part of Comcast Corp., have had an agreement in place since 2003.
Merkel highlights economy in German election yearBERLIN (AP) _ Chancellor Angela Merkel highlighted Germany's economic strength as she kicked off campaigning Saturday for an important state vote that comes months before national elections, and she brushed aside worries about the weakness of her party's coalition partner. Merkel's center-right party faces a tough battle to extend its 10-year hold on Lower Saxony state, a northwestern region of 8 million people, in the Jan. 20 election there. Polls suggest the center-left opposition has a good chance of winning, which would give it a significant boost ahead of September national elections in which Merkel will seek a third term.
Egypt shakes up Cabinet, appoints 10 new ministersCAIRO (AP) _ Egypt swore in 10 new ministers on Sunday in a Cabinet shake-up aimed at improving the government's handling of the country's ailing economy ahead of talks this week with the International Monetary Fund over a badly needed $4.8 billion loan. The reshuffle, which President Mohammed Morsi had promised in response to public anger over Egypt's economic malaise, affected two key ministries, the interior and finance. It also solidified Islamist control of the government, putting three portfolios in the hands of members of the president's Muslim Brotherhood.
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