FukkShits

DAVOS, Switzerland (MarketWatch) -- Japanese Prime Minister Yoshihiko Noda said on Saturday that Japan "stands ready to support the euro zone as much as possible." Noda made the comments by videolink from Tokyo during a panel discussion at World Economic Forum's annual meeting in Davos. Noda also said that Europe's sovereign debt crisis is the biggest risk to the world economy and his nation is working with South Korea and India to reduce the risk of the crisis spreading to Asia.

DAVOS, Switzerland (MarketWatch) -- The chief of the International Monetary Fund, Christine Lagarde, reiterated her call on Saturday for a "decent firewall" in the euro zone to stem the sovereign debt crisis. "It's critical that euro-zone members develop a clear, simple firewall [...] to provide trust," Lagarde said at a panel discussion at the World Economic Forum's annual meeting in Davos. Lagarde is among several high-level officials who have suggested in recent days that a bigger firewall is needed in Europe, including the British prime minister and the U.S. Treasury secretary.

DAVOS, Switzerland (MarketWatch) -- Germany wants Greece to give up sovereignty over its budget to a euro-zone commissioner in order to receive its second bailout from international lenders, The Financial Times reported on Saturday, citing a copy of the proposal it has obtained. The proposed commissioner would be able to veto Greek budget decisions if they do not comply with targets set by Greece's international lenders, the newspaper said.

As annuity rates plunge to record lows, investors are looking elsewhere for decent returns, says Peter Stanford.

Submitted by Rational Capitalist Speculator

Courtesy of the BBC's Andrew Neil, on the back of the previously noted formal annexation demand of Greece by Germany:

SAN FRANCISCO (MarketWatch) -- Delta Air Lines Inc. is weighing a possible a takeover bid for US Airways Group , according to a report late Friday in the Wall Street Journal, citing people familiar with the matter. Delta reportedly is working with Goldman Sachs Group and Blackstone Group to determine whether US Airways would make a good fit. Delta has yet to approach US Airways, the Journal's sources said, stressing that this is all at a very preliminary stage. US Airways earlier this week confirmed it is considering a bid for bankrupt AMR Corp. , parent of American Airlines.

Patriot Bank Minnesota of Forest Lake, Minn., and BankEast of Knoxville, Tenn., were closed by regulators Friday in the sixth and seventh U.S. bank failures of 2012, the Federal Deposit Insurance Corp. said. First Resource Bank of Savage, Minn., will assume all of the deposits of Patriot Bank Minnesota, which had $111.3 million in total assets and $108.3 million in total deposits. U.S. Bank National Association of Cincinnati will assume all of the deposits of BankEast, which had $272.6 million in total assets and $268.8 million in total deposits.