Morning business round-up: Focus remains on Greece


What made the business news in Asia and Europe this morning? Here's our daily business round-up:

The Greek parliament is holding a second vote on its austerity programme, which it needs to implement in order to secure further financial support.

The vote is about putting into practice the tax rises, pay cuts, privatisations and public sector redundancies approved in principle on Wednesday.

China has decided to raise the level at which people start paying income tax from 2,000 yuan ($309; £193) to 3,500 yuan a month after a public outcry.

The official Xinhua news agency said a previous suggestion of 3,000 yuan had prompted a strong online response from citizens, and therefore they were making a bigger tax concession.

Carmaker Toyota has announced a recall of more than 110,000 hybrid vehicles, mainly in the US, Japan and Europe, because of concerns about a problem with the power supply circuit.

Toyota said the recall involved the Highlander hybrid and Lexus RX400h models. The Japanese firm has now recalled almost 12 million vehicles in the past 18 months.

Electronics giant Samsung wants to ban the sale of key Apple products in the US as the legal battle continues between the two companies, who have accused each other of copying designs and technology.

Samsung wants to stop iPhone, iPad and iPod models being imported and sold in the US.

Media caption,
Biz Heads

The battle for Brazilian retailer Pao de Acucar is heating up after France's Casino raised its stake in the company.

Casino faces competition from its big rival Carrefour as a Brazilian investment fund has announced proposals to merge Pao de Acucar with the local operations of Carrefour.

Lloyds Banking Group has announced another 15,000 job cuts as part of its strategic review, which targets £1.5bn in annual savings by 2014 and aims to reduce its international presence.

And News Corp's attempt to buy BSkyB has moved a step closer after the UK government said it was "minded to accept" News Corp's assurances about the spin-off of Sky News.

Our Business Daily podcast today looks at whether Greece's private sector is on its last legs.

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