Financial news on January 12, 2008

Business and Financial news
Anxiety for Luxury Brands as Tiffany Reports Slowdown

Tiffany’s weak holiday sales sent jitters through the luxury-goods industry, which had seemed invulnerable to the economic slowdown. Read more..

By MICHAEL BARBARO - The New York Times

Chase Buys Some of Lender’s Assets

Northern Rock, one of Europe’s biggest casualties of the credit crisis, sold some of its mortgage portfolio to JPMorgan Chase. Read more..

By JULIA WERDIGIER - The New York Times

Debt Relief Made Harder for Homeowners

Legislation pending in Congress could spur still more people to choose Chapter 13 to save their homes. Read more..

By JANE BIRNBAUM - The New York Times

Directors and Producers to Hold Talks

Planned weekend talks could promise a major break in the entertainment industry’s labor troubles. Read more..

By MICHAEL CIEPLY - The New York Times

Inquiry Focuses on Withholding of Data on Loans

New York State prosecutors are investigating whether Wall Street banks withheld information about the risks posed by investments linked to subprime mortgages. Read more..

By VIKAS BAJAJ and JENNY ANDERSON - The New York Times

Report Stirs Concern Kazakh Oil Deal May Be Scuttled

Shares in the Italian oil company Eni dipped Friday following an unconfirmed report that Kazakhstan was poised to cancel a contract to develop the Kashagan field. Read more..

By ANDREW E. KRAMER - The New York Times

U.S. and Europe Ponder Divergent Rate Policies

Can Europe’s economy stay on track even if the U.S. economy goes off the rails? This old question is being asked with new urgency across the Continent. Read more..

By MARK LANDLER - The New York Times

See what else happened on January 12, 2008