Yen rises on minister's comments: The yen rose 0.5% on Tuesday, ending four days of declines against the dollar, after Japan's economy minister Akira Amari signalled there were limits to the nation's efforts to weaken its currency when he warned that "excessive" weakening of the yen would be harmful. The comments pared gains on the Nikkei, which earlier reached its highest level since April 2010. (Bloomberg) (Dow Jones) HMV calls in administrators: Deloitte, which had been advising HMV's lending banks, has been appointed the retailer's administrator and will seek a buyer for the business. HMV's request last week for additional financing from suppliers to pay for its bank debt was rejected. JP Morgan ordered to strengthen risk controls: "The Federal Reserve found deficiencies in JPMorgan's risk controls, loss modeling and audit functions as well as the process for alerting the board of directors to problems." Formal enforcement actions have been ordered by both the Fed and the Office of the Comptroller of the Currency. EU berates China over steel subsidies: The European Commission has concluded China is illegally subsidising makers of organic coated steel, and recommended tariffs of up to 50% be applied to imports of the materials from China, according to a report seen by the FT. This comes amid tensions between the EU and China on industries including solar panel manufacturing and telecoms equipment. It could prove relief for European steelmakers such as ArcelorMittal and ThyssenKrup. Dell shares jump on buyout hopes: The computer maker's shares lept 13%, after sources said there were discussions with private equity firms over a buyout. However, "It was unclear whether those discussions had led to any firmer deal talks, or even whether the idea was still being pursued." (Financial Times) (Reuters) Westminster hits at Goldman bonus plan: "Goldman Sachs provoked a furious reaction in Westminster after it emerged that the US investment bank was mulling a plan to delay its UK bonus payments to take advantage of the imminent cut to the top rate of tax." Editorial: EU undoes good work on banks with bailout backtrack. One dead end in authorities" pursuit of SAC Capital. Strategists differ on gold price peak timing. Ratings" agencies reforms come unstuck. How South Kore amight gain from a weaker yen. Asian markets Nikkei 225 up +85.61 (+0.79%) at 10,887 Topix up +6.39 (+0.71%) at 905.08 Hang Seng down -81.06 (-0.35%) at 23,332 US markets S&P 500 down -1.37 (-0.09%) at 1,471 DJIA up +18.89 (+0.14%) at 13,507 Nasdaq down -8.14 (-0.26%) at 3,118 European markets Eurofirst 300 down -3.64 (-0.31%) at 1,160 FTSE100 down -13.72 (-0.22%) at 6,108 CAC 40 up +2.23 (+0.06%) at 3,708 Dax up +13.99 (+0.18%) at 7,730 Currencies €/$ 1.34 (1.34) $/¥ 89.02 (89.46) £/$ 1.61 (1.61) Commodities ($) Brent Crude (ICE) down -0.33 at 111.55 Light Crude (Nymex) down -0.32 at 93.82 100 Oz Gold (Comex) unchanged 0.00 at 1,669 Copper (Comex) unchanged 0.00 at 361.95 10-year government bond yields (%) US 1.85% UK 2.05% Germany 1.56% CDS (closing levels) Markit iTraxx SovX Western Europe +1.6bps at 98.55bp Markit iTraxx Europe +1.65bps at 103.63bp Markit iTraxx Xover +3.54bps at 426.04bp Markit CDX IG +2.3bps at 89.38bp Edit this template.