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Renewed hopes of Greeks avoiding a tragedy and China stimulus pushed stocks higher: Dow +1.06% to 12587. S&P +1.2%, Stoxx 50 +0.5%, Germany +1.2%, France +1.3%, Italy +0.2%, U.K. +0.7%. Spain -2.5%.
What’s powering Tata Motors [stockquote]TATAMOTORS[/stockquote]? Its fourth quarter consolidated net profit more than doubled! Sales climbed 44%, profit at Jaguar Land Rover more than doubled to £696 million (sales +51%) (WSJ)
Air India trying to find new revenue sources? Indian Civil Aviation Minister Ajit Singh said Tuesday that Air India won’t take delivery of the planes until the carrier and Boeing agree on a compensation amount for the delay. (WSJ)
A roundup of Euro news:
- In Europe soon, millions of people will wake up to realize that the euro-as-we-know-it is gone. Economic chaos awaits them. Here’s how to survive. (Baseline Scenario)
- The Soviet collapse teaches us that just because the economic costs of disintegration would be very high, this is not a reason for it not to happen. To believe that the EU cannot disintegrate simply because it would be too costly offers only weak reassurance that the Union will continue to be stable. (Economist)
- At least 25% of unrated European leveraged buyout companies with debt due by 2015 may default as the economy worsens and private-equity owners refuse to inject capital, according to Moody’s. (Reuters)