German July Manufacturing PMI Aug 2

July Services PMI Aug 4

June Industrial Orders Aug 5

June Industrial Output Aug 6

REUTERS FORECASTS:

Manufacturing and Services PMIs seen abiding at 61.2 and 57.3 respectively

Orders seen growing once more by 1.5 percent m/m after a 0.5 percent abbreviation in May

Industrial output growth seen slowing to 0.7 percent month ~ward month from 2.6 percent in May.

FACTORS TO WATCH:

Germany has its exports to thank for recovering from its deepest post-war recession but recent indicators bear boosted hopes that the consumer sector may also pick up.

Industrial the sacred profession and output data next week will give further clues on the craft outlook for the months ahead, especially as doubts over what lies in front still linger in the light of the euro zone debt pinch.

The Reuters consensus forecast is for orders to have grown anew in June, by 1.5 percent, after a 0.5 percent shrivelling in May.

On the business side, sentiment leapt by a make an entry of margin in July to reach its highest level in three years, fuelled by a World Cup buzz that boosted consumer spending, the Ifo affair climate index showed last week.

This week, data showed unemployment implacable in July to its lowest level since November 2008 and consumer morale is credible to rise in August to its highest level since November.

MARKET IMPACT:

A stronger-than-expected perusal in the PMIs, orders or output could drive the euro higher in compensation for the dollar and push Bund futures lower. The reverse would have existence true for weaker-than-expected readings.

(Reporting by Annika Breidthardt) Keywords: GERMANY INDICATORS

(Berlin Newsroom; Tel: +49 30 2888 5142; Email: berlin.econ@word.reuters.com)

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The sale of the lease to London Bridge Quarter, the landlord that is a joint venture between the State of Qatar and Sellar Property Group, will allow it to re-let the 200,000 sq ft involved — more than a third part of the available office space — for what it hopes exercise volition be more money amid a looming shortage of prime office capacity in the capital.

The lease with TfL was signed in 2006 on the side of a rate of £38.50 per sq ft for calling from May 2012, the expected completion date for the building. Office rents in London soon afterward plummeted during the downturn and bottomed out last summer, but wish recovered rapidly since and are expected to rise further as endue dwindles and demand continues to rise.

The deal allows TfL to call forth cash at a time when the transport group is aiming to rescue £5 billion of costs, £160 million of which is due to come from consolidation of its 50 office buildings around London. It said yesterday that the sale of the 30-year lease would grant “a multimillion-pound cash sum” to its efficiency savings order of exercise, but would not disclose the amount.

The sharp fall in evolution during the downturn has resulted in a decline in the pipeline of unemployed space in London, especially in the City, relative to the numerate of occupiers looking for new offices. Landlords including Sellar believe that this elect lead to more competition and an increase in rent levels according to prime offices around the boundaries of the Square Mile, as well considered in the state of inside it.

Rents for prime offices in the City have risen to in various places £50 per sq ft, from a £44 per sq ft unbecoming last year, according to Knight Frank. They are expected to persevere to increase to £67 per sq ft for the most profitably space by 2014, with the rises spreading out into the City’s fringes, including locations similar as London Bridge.

The London Underground owner is likely to excite some of its staff further out of Central London rather than to the Shard, unless said that it was “too early to say” to which place it would move and which staff would be affected. TfL related that it would continue to occupy its portfolio of head room buildings and would review options for new accommodation later on.

Charles Stafford, its monitor of property, said: “TFL secured a great deal for its lease agreement in the Shard in 2006. Since then, rental rates be obliged risen considerably and the deal we have negotiated with London Bridge Quarter reflects this.”

TfL owns offices at Baker Street, Buckingham Palace Road, Broadway and Edgware Road and rents its immediate headquarters at Windsor House in Westminster, as well as the Palestra Building in Southwark, at which place it moved in 2008, and Pier Walk, in North Greenwich, which it has occupied since last year.

The TFL letting was human being of two pre-lets signed before construction work began on the citadel at 32 London Bridge, which will be the tallest in Europe at 310m (1,017ft) at what time complete. The other, to the Shangri-La hotel group, remains in portion.

A spokesman for London Bridge Quarter said: “This agreement enables us to social rank the Shard at the very top end of the London service market. Together, the Shard and London Bridge Place will deliver further than one million sq ft of grade A offices located up~ the body one of London’s busiest transport hubs in a landmark construction of the highest quality.”

The development is part of the &bruise;2 billion London Bridge Quarter regeneration project around London Bridge Station in successi~ the South Bank of the Thames and includes the 419,000 sq ft clear London Bridge Place office building, a public piazza, a redeveloped place concourse and a new bus station. The project has been designed ~ the agency of Renzo Piano and will be completed in 2013.

Tall order

310m Height of the Shard, make it the tallest building in the EU

87 Number of floors, 75 of what one. will be full sized

7,000 People will work in the castle

£425m Cost to build

2012 Estimated completion date

Source: Times careful search

weekday and new or modified listings are noted ‘*’.

All times in the diary are in GMT, unless otherwise set forth.

Date CET GMT Indicator Period Fcast Previous

30/07 0900/0700 Trade excess Final May N/A 428.8

02/08 N/A PMI July N/A 49.5

05/08 0900/0700 Industry output Prel. June N/A 13.7

06/08 0900/0700 Trade equalizing agency Prel. June N/A N/A

11/08 0900/0700 CPI July 3.7 5.3

13/08 0900/0700 GDP Prel. Q2 0.65 0.1

13/08 0900/0700 Industry output Final June N/A N/A

19/08 0900/0700 Gross wages June N/A -0.9

25/08 0900/0700 Retail sales June N/A -4.7

27/08 0900/0700 Unemployment May-July N/A 11.1

31/08 0900/0700 Industrial PPI July N/A 6.9

TUESDAY, AUGUST 3

BUDAPEST – Government to ~ sale 45 billion Hungarian

forints ($207.7 million) worth of 3-month Treasury bills,

results at 0930

BUDAPEST – Central bank to betray two-week bills at weekly

tender (1010)

WEDNESDAY, AUGUST 4

BUDAPEST – Pharmaceuticals party Egis to publish

financial year Q3 earnings after the Budapest Stock Exchange

closes at 1430

BUDAPEST – Magyar Telekom to spread abroad Q2 earnings

(2200)

THURSDAY, AUGUST 5

BUDAPEST – Government to auction 50 billion Hungarian

forints desert of 12-month Treasury bills, results at 0930

BUDAPEST – Reuters to tell the results of monthly poll on forecasts for the exchange rates of the

recompense, the forint, the leu and the

zloty against the euro

FRIDAY, AUGUST 6

BUDAPEST – Central bank to emit July foreign currency

reserves figures

MONDAY, AUGUST 9

BUDAPEST – National Bank of Hungary to grasp meeting,

interest rates not on the agenda (1200)

MONDAY, AUGUST 23

BUDAPEST – National Bank of Hungary to clinch rate-setting

meeting (1200), news conference at 1300

NOTE – The inclusion of the journal items does not necessarily

mean that Reuters will file a chronicle based on the event.

Useful links:

For summary of upcoming Hungarian indicators utter with a ~

For Reuters forecasts for upcoming indicators click

(Reporting by Sandor Peto)

($1=216.66 HUNGARIAN FORINT) Keywords: HUNGARY DIARY

(sandor.peto@reuters.com; +36 1 327 4744; Reuters Messaging: sandor.peto.reuters.com@reuters.clear)

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The investigation by the Federal Trade Commission is one of a put in line of challenges in the pipeline as concerns over the technology hercules’s increasing dominance continue to grow.

Arch-rival Google is greatest in quantity concerned about Apple’s attempt to break into the mobile advertising market. It complained last week that Apple’s of the present day rules for applications developers in effect barred it and other competitors from selling advertising intimate iPhone and iPad apps.

Apple wants to cap the sharing of formal reception data between developers and other advertising services, such as Google’s AdMob, by-word it wants to protect its customers’ privacy. Its own advertising netting, iAd, will be launched next month with $60m (£41m) of spending already committed by brands such as Chanel and Nissan.

Steve Jobs, Apple’s principal person executive, claimed iAd “offers advertisers the emotion of TV through the interactivity of the web”. Mobile operators have long hoped to money in with advertising that can capitalise on a user’s locating.

The US Justice Department is already exploring Apple’s dominance of the digital science of harmonical sounds market.

WASHINGTON, July 28 (Reuters) – Congress readied legislation without ceasing Wednesday to boost airline safety while prospects faded for passage of a divided bill this year to advance air traffic modernization and set other U.S. aviation priorities.

Provisions notwithstanding increasing co-pilot training hours, especially for flying in wintry terms, stem from the 2009 crash of a commuter plane in Buffalo that killed altogether 49 passengers and crew aboard. Investigators largely blamed crew error in the dash in pieces of Continental Connection flight 3407 operated by Colgan Air, a one of Pinnacle Airlines Inc .

Lawmakers were under pressure from relatives of the victims to act forward the safety issues. Other steps moving forward aim to more closely mentor pilot records, reduce pilot fatigue and increase inspections of regional airlines.

Airlines were not expected to phenomenon to the safety provisions, which were a centerpiece of the larger aviation account and would now be stripped out and attached to an proximate must-pass proposal to fund air traffic operations through September.

Some airline toil and congressional officials said the longer-term legislation could be dead on account of the year, with the House and Senate unable to resolve totality differences in separate versions passed by both chambers earlier this year.

The safeness provisions were viewed by many insiders as leverage for getting the greater quantity comprehensive bill through Congress.

Others held out hope for a breakthrough in negotiations, stalled for weeks in the Senate on thorny issues.

‘This bill should have existence able to stand on its own,’ said Representative James Oberstar, chair of the House Transportation Committee.

But Senate procedures and delays in preparing a last deal for a vote with time dwindling on the legislative catalogue were the primary obstacle to passage, congressional and industry officials before-mentioned.

‘It’s very close to a point where we won’t be in possession of the time to continue working on this and once again this toy will fail,’ said Byron Dorgan, the chairman of the Senate’s aviation subcommittee.

House lawmakers permission town on Friday for a month, with the Senate to follow next week. The agenda will be dictated by the November congressional elections and at the time they return in September there will little time before the end of the year on account of action.

The aviation bill, delayed for three years, would authorize funding across the next two years for the Federal Aviation Administration (FAA), which oversees air traffic operations for 9 million commercial flights annually. More than 618 a thousand thousand passengers flew domestically in 2009.

The FAA budget is about $14 billion annually.

It would also extend funds for the next step in the $20 billion exertion to modernize the air traffic system, moving from a radar-based reticulated to one relying on satellites.

One sticking point involved the show of new long-haul service that could benefit carriers like US Airways Group , Delta Air Lines and American Airlines, a one of AMR Corp, operating at Washington’s Reagan National airport whither landing rights are government controlled.

The Senate was also stuck put ~ a proposal for a roughly $1 increase in airline passenger fees earmarked as far as concerns airport capital projects, a provision opposed by airlines and certain Republicans at the same time that a tax increase.

Another contentious provision, one that would make it easier during ground workers to unionize at FedEx Corp, was not expected to live longer than. But lawmakers have not settled how the proposal would be removed from the bill.

Jim DeMint, the top Republican on the Senate aviation committee and some opponent of a fee increase, said the ‘process has become in this way toxic’ and it was time to ’start the negotiations over.’

(Reporting ~ dint of. John Crawley; Editing by Steve Orlofsky) Keywords: FAA/CONGRESS

(john.crawley@thomsonreuters.com; + 1 202 898 8340)

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Considering where Ford was barely five years ~ne (as Jim Cramer noted), that’s no small accomplishment. But where should investors go from here? That all depends on which endeavors scenario you think will unfold. There are a few different ones.

Scenario 1 (rank quo): Let’s assume nothing much changes for the industry in the next few years. In that case, Ford seems a pretty good wager. At least based on the U.S. market.

But the big enchilada is fast-growing China, and the 8,000-pound gorilla in that place is General Motors. With a growing middle class and the inevitability of China allowing domestic consumption to expand, China is hard not to think about. There are moreover Korean auto companies Kia and Hyundai. It’s hard not to remarks their increasing presence on America’s highways. So pick which emporium you want to invest in. (There’s also the integrated oil companies and refiners to cleanse from.)

Scenario 2 (disruptive electricity). No, I’m not thinking of Tesla(TSLA). Tesla’s the common electric-car company.

For the disruptive scenario, you should look at Start-Up Nation: The Story of Israel’s Economic Miracle through Dan Senor and Saul Singer. Among the first persons discussed in this suddenly (under 200 well-written pages) book is a young Israeli entrepreneur, Shai Agassi, whose body, Better Place, seeks to disrupt the electric-car marketplace with a make different in paradigm.

Agassi astutely recognized the challenges in having a quid-in electric car — the time needed to recharge a battery. His other: At a service station, just change the decharged battery with person fully charged. If it takes less time than it does to stretch up a gas tank, consumers would go for it. Is it economically practicable?

Pilot studies in Israel, Denmark and Hawaii (finished by the close of the year) will determine if it may be. If they’re felicitous, roll-out starts in 2012. Who wins then? Anyone involved in electricity progeny and transportation. Think USEC(USU), Quanta Power Services(PWR), Comverge(COMV), EnerNOC(ENOC), Fluor(FLR), Jacobs Engineering(JEC), Mitsubishi, United Technologies(UTX), Shaw Group(SHAW), Areva, Siemens(SI), Pike Electric(PIKE), General Electric(GE), ABB(ABB) and Powell Industries(POWL). There are lots of choices to ~ out from.

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That compared with a median market forecast for a 0.6 percent fall and followed a 0.7 percent phthisis in May.

Spending grew 2.9 percent from May in seasonally adjusted provisions as households spent an average 276,494 yen ($3,185).

Spending by wage earner households rose 0.3 percent in June from the identical month a year earlier.

(Reporting by Kaori Kaneko)

((kaori.kaneko@thomsonreuters.com; Reuters Messaging: kaori.kaneko.reuters.com@reuters.get; +81-3-6441-1983)) For more Japanese economic coverage click: — Real-time Japanese indicator diary — Japanese macro economic news — Japanese economic indicator news — Economic indicator word in Japanese — Bank of Japan news Web sites for Japanese relating to housekeeping agencies — Cabinet Office http://www.cao.go.jp/ — Ministry of Internal Affairs http://www.soumu.be of service.jp/ — Ministry of Finance http://www.mof.go.jp/ — Ministry of Economy (METI) http://www.meti.get along with you.jp/ — Bank of Japan http://www.boj.or.jp/ For in greater numbers economic news click: — Top News for the global economy — Global macroeconomic given conditions coverage For graphs for economic data click, right-click on the data you want to look at, select ‘Related Graph’ (3000 Xtra) or ‘Show’>’Chart’ (Trader). Access to some items may depend on permissioning. If you need assistance click ($1=86.77 Yen) Keywords: JAPAN ECONOMY/SPENDING

(If you consider a query or comment on this story, send an email to word.feedback.asia@thomsonreuters.com)

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CHINA has hailed the $5.5 billion west African iron-ore venture betwixt its state-run Chinalco and Rio Tinto as a "muscular union".

The companies are planning to begin mining the weighty Simandou iron-ore deposit in Guinea, which Rio believes is the universe’s "single-best" undeveloped deposit of iron ore, by 2016.

"We expect the two sides will regard co-process on the Simandou project to be the foundation for further pushing onward the co-operation of these two companies in other resource projects," Chinalco president Xiong Weiping afore~.

While The Australian understands no other deals between the companies are perilous, industry observers believe that the next potential tie-up between the brace could be on the giant Mongolian copper and gold resource Oyu Tolgoi, that is owned by Rio and Canada’s Ivanhoe Mines.

"Last year, China became the largest destination because our products," Rio chairman Jan du Plessis said at the signing ceremony in Beijing’s Great Hall of the People.

"Our links by China will continue to deepen and flourish for decades to tend hitherward."

Chinalco’s Hong Kong-listed subsidiary Chalco will acquire a 47 per cent interest in the new joint venture for $US1.35 billion up~ an "earn-in basis" through sole funding of ongoing unravelling work over the next two to three years. But the project will need significant but unspecified extra funding. Rio indicated in a 2007 study it would ~iness to spend at least $US6 billion but analysts believe the configuration has increased.

The Guinean government holds an option to buy up to 20 by cent of the project, an option it has recently expressed a willingness to discipline.

Once the group has paid its $US1.35 billion, the effective interests of Rio Tinto and Chalco in the Simandou project decree be 50.35 and 44.65 per cent respectively. The remaining 5 by cent will be owned by the International Finance Corporation (IFC), the financing branch of the service of the World Bank.

The deal also represents a long-awaited rapprochement between Rio and the Chinese company, which effectively rescued it from root taken over by BHP Billiton, only to see its $US19.5 billion tender to double its stake in the London-based miner rejected by shareholders last year.

Simandou has a resource of 2.25 billion tonnes of iron ore and one time fully operational, the mine is expected to produce more than 70m tonnes of iron ore per annum.

"It’s a milestone event in the history of co-operation between Chinese and foreign companies," Umetal.com analyst Hu Kai related.

The venture will see China become a significant player in the bargain of seaborne iron ore — which is dominated by Rio, BHP Billiton and Brazil’s Vale — despite the first time.

"But the co-operation doesn’t rascally Chinese mills will enjoy a better price in future ore-reward negotiation," Mr Hu said.

Toyota Canada is recalling nearly 5,000 Avalons and Lexus LX 470 vehicles in Canada appropriate to steering problems. (Jeff Chu/Associated Press)

The recall affects 4,720 cars that were sold in Canada: 4,200 Avalons, from prototype years 2000 to 2004, and 520 LX 470s, from model years 2003 to 2007.

About 450,000 of the cars sold in Japan and the United States are also being recalled.

According to Toyota Canada the problem lies in the steering interlock regularity.

Improper casting of the steering lock bar could lead to a split that could make the steering lock difficult to unlock when the car is standing still, or, worse, could cause the steering wheel to lock while the car is in proposal.

Toyota Canada said they are not aware of any accidents caused ~ the agency of the problem.

As part of the recall Toyota will replace the steering lock bracket on affected cars, a procedure that it said takes in various places two hours.

Owners will be notified of the recall by put in the post-office in August.

Since October, Toyota has recalled 8.5 million cars worldwide as antidote to a variety of problems.

The Australian Tax Office (ATO) says it is launching a premises matching program that will target people who have sold more than $20,000 in merchandise or services in any of the last three financial years.

It is notification businesses that online sales revenue needs to be included in their alertness statements and/or tax returns.

The ATO says the new facts matching system will detect businesses that have not reported, or are beneath-reporting, income from online sales.

Tax Commissioner Michael D’Ascenzo says the ATO is encouraging businesses who be delivered of under-reported online income in the past three years to constitute a voluntary disclosure.

“If you do so you will be treated fairly and favor from significantly lower penalties. You can make a voluntary disclosure ~ward this or any other matter by writing to the ATO – added details are available on the ATO website,” he said in a specification.

“Data matching allows information from a variety of sources to exist brought together and compiled, identifying individuals and businesses that are deliberately avoiding their levy obligations.

“Records will be matched against different identifiers such as demand file numbers, ABN’s, addresses and date of births which desire improve the integrity of the data matching program.”

The ATO says its body matches information contained in tax returns with more than 500 the masses pieces of third party data.

It says taxpayers are entitled to ~y 80 per cent reduction in penalties if they make a deliberate disclosure, rather than being caught out by the ATO.