Asian shares were solidly higher on Tuesday, as investors latched on to tentative signs of stabilisation in China even as twin factory surveys highlighted the fragile state of the world's second-largest economy. Financial spreadbetters predicted the buoyant mood to carry over to European trading, with Britain's FTSE 100 seen opening as much as 0.5 percent higher, Germany's DAX 0.4 percent, and France's CAC 40 0.5 percent. "European indices are set to start December on a positive note," Farbod Mimeh, a junior dealer at Capital Spreads in London, said in a note to clients.
By Nandita Bose and Nathan Layne CHICAGO (Reuters) - U.S. shoppers seeking to avoid the holiday crowds at bricks-and-mortar stores and snare deals on Cyber Monday came face-to-face with traffic jams and product sellouts, with some customers of Target Corp forced to wait in a virtual line. Sales on Cyber Monday, traditionally the busiest day of the year for Internet shopping, were expected to finish up 12 percent from a year earlier at $2.98 billion, according to Adobe Digital Index, part of Adobe Systems Inc, which provides digital marketing and media services to merchants. "Consumers are hyped for Cyber Monday, with social buzz more positive than what we saw on Black Friday, but they need to brace themselves for the highest out-of-stock rates of the season so far," said Tamara Gaffney, principal analyst at Adobe Digital Index.
The Federal Reserve Board on Monday adopted a rule that stops it from bailing out individual companies, a change that Congress demanded after the central bank's controversial decision to help rescue American International Group and others during the financial crisis. The rule is designed to help end the notion of individual financial companies being "too big to fail," by allowing the Fed to rescue only the broader financial system instead of individual companies. Under the rule, the Fed can make emergency loans that can potentially be used by at least five companies, but it cannot make more ad hoc rescues like its efforts to save AIG during the crisis.