Wall Street up on China stimulus hopes as euro zone steadies

NEW YORK - Stocks rallied on Tuesday, with each of the major indexes up more than 1 percent, on hopes China may unleash more spending measures and Greek election polls pointing to support for pro-bailout parties.

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Specialist banks cherry pick from lay-offs

LONDON - Small investment banks and brokerages in Europe are making the most of a hiring shutdown and cuts at bigger rivals, cherry picking staff frustrated by new pay rules and uncertainty over strategy.

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China denounces EU airline carbon law, seeks talks

BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.

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Two more proxy advisers back Harbin Electric CEO's buyout offer

Tue Oct 18, 2011 8:59am EDT

(Reuters) - Chinese electric motor maker Harbin Electric HRBN.O said two more proxy advisers have asked its shareholders to vote in favor of the $754 million go-private offer by its chief executive.

Glass Lewis & Co and Egan-Jones Proxy Services have advised shareholders to vote "for" the deal, Harbin said in a statement.

On Monday, Harbin got support for the deal from proxy adviser Institutional Shareholder Services (ISS).

Harbin CEO Tianfu Yang, along with private equity firm Abax Global Capital, had made the $24 per share offer to take Harbin private last October.

The company has been a target of short-seller Citron Research, which has been raising questions about the deal and past activities of CEO Yang.

A meeting of Harbin Electric shareholders to consider and vote upon the proposal to adopt the offer will be held on October 29.

Harbin's shares closed at $22.44 on Monday on Nasdaq.

(Reporting by Divya Sharma in Bangalore;Editing by Supriya Kurane)
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