CA-BUSINESS Summary

Yen firms, Asia shares fall on jitters from Cyprus deal

TOKYO (Reuters) - The yen firmed and Asian shares slipped on Monday after an unusual bailout proposal for Cyprus rattled investor nerves, while Friday's halt to Wall Street's long winning streak further dampened sentiment. Euro zone finance ministers want Cypriots to pay up to 9.9 percent of their deposits in return for a 10 billion euro ($13.07 billion) aid package. If approved by the island's parliament on Monday, it will be the first time savers have had to foot part of the bill for a European bailout, raising fears that the model could become a precedent for future bailouts in the euro zone.

Cyprus works on tax levy deal to get bailout approved

NICOSIA (Reuters) - Cyprus's government was working on a proposal to soften the blow of a bank deposit levy on smaller savers ahead of a parliament vote on Monday on the measure central to a euro zone bailout designed to avert bankruptcy. Breaking with previous EU practice that depositors' savings are sacrosanct, Cyprus and international lenders agreed at the weekend that savers in the island's outsized banking system would take a hit in return for the offer of 10 billion euros ($13 billion) in aid.

Bombardier to pay 460 million Swiss francs to Swiss railways - paper

ZURICH (Reuters) - Canada's Bombardier will have to pay at least 460 million Swiss francs ($490.01 million) to Swiss railway group SBB for late delivery of 59 double-deck trains the SBB ordered three years ago, a Swiss newspaper reported on Sunday. According to a source with knowledge of the matter quoted by "Der Sonntag", the world's largest train maker Bombardier would have to pay 7.8 million francs for each train it delivers with a delay of a year, adding up to a total of 460.2 million Swiss francs.

Airbus wins landmark Lion Air order: sources

PARIS (Reuters) - Europe's Airbus has landed a record order potentially worth $20 billion at list prices from Indonesia's Lion Air, sources familiar with the matter said on Sunday, smashing rival Boeing's grip on one of the world's fastest-growing airlines. In a sign of the rising importance of Asian budget carriers for high-tech manufacturing jobs, the deal is set to be announced on Monday at a ceremony overseen by French President Franciois Hollande, the sources said, asking not to be named.

BIS concerned markets getting hooked on stimulus

FRANKFURT (Reuters) - The Bank for International Settlements raised concern that buoyant financial markets are getting too dependent on monetary and fiscal stimulus, discouraging governments from pushing through reforms. Central banks in the United States, Europe and Japan have calmed financial markets with lower interest rates and asset purchase programs, buying governments time to implement reforms that make their economies more competitive.

Super Wednesday for world's central banks

LONDON (Reuters) - The Bank of Japan welcomes a new anti-deflation governor this week, the Bank of England might get a new pro-growth mandate and the Federal Reserve is likely to stick like glue to its aggressive bond-buying program. Together, the three events speak volumes about the balance of risks in a global economy that is on the mend but still a long way from rude health.

Fuel efficiency law to get EU on road to growth: study

BRUSSELS (Reuters) - Proposed European legislation on auto fuel efficiency, to be debated this week, could create around 400,000 jobs and save the bloc tens of billions of euros in annual fuel costs, according to a new study. The fuel efficiency proposals, set for an initial vote in the European Parliament on Tuesday, have split the industry. Germany, home to luxury carmakers, has pressed for supercredits, which the European Commission says would dilute its plans.

Analysis: Uranium miners press Canada to change Cold War rules

WINNIPEG, Manitoba (Reuters) - Two of the world's biggest uranium miners, Rio Tinto PLC and Areva SA , are pressing Canada to change a Cold War era policy that curbs foreign ownership of uranium mines. The campaign, backed by the Australian government, two Canadian provinces and Western Australia-based uranium producer Paladin Energy Ltd , could unlock some of the world's highest-grade ore for development just as demand for the radioactive element looks to surge.

Canada Pension Plan eyes nuclear fuel producer Urenco: paper

LONDON (Reuters) - The Canada Pension Plan Investment Board (CPPIB), one of the world's biggest pension funds, could be interested in bidding for nuclear fuel producer Urenco, the Sunday Times reported without citing sources. CPPIB, which manages Canada's national pension fund, declined to comment on the article.

EU wants to include financial services in U.S. trade talks

BRUSSELS (Reuters) - The European Union's top trade official said on Saturday he wants financial services to be included in negotiations on an ambitious EU-U.S. free trade pact. The United States and the 27-nation EU agreed last month to launch negotiations on a wide-ranging Transatlantic free trade agreement, but details of what the talks will cover have been limited.

Source: http://news.yahoo.com/ca-business-summary-001838715--finance.html

Andy Griffith joe johnson