By Hideyuki Sano and Vidya Ranganathan TOKYO (Reuters) - Asian stocks were firm on Tuesday after China's latest step to prop up its faltering economy lifted global equities, while the euro was pressured on growing worries a cash-strapped Greece may default on its debt. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent. It was led by a 1.5 percent rise in Hong Kong's Hang Seng index , which had been on a 3-week roll driven by Chinese portfolio investments. China's central bank on Sunday cut the amount of cash banks must hold as reserves in its latest attempt to spur lending and combat a slowing economy.
Saudi Arabia's Prince Alwaleed bin Talal is in no doubt that James Murdoch is ready to take a much bigger role at Twenty-First Century Fox , by far the largest part of the media empire that James' father Rupert Murdoch built. "James is a giant!" said Alwaleed, a Murdoch family ally and one of Fox’s top shareholders with a 6.6 percent voting stake, in an interview. In particular, Alwaleed points to what he says is James' ability to grasp the digital world and understand how it is transforming the media landscape, adding: "I really love him!" The billionaire prince's seal of approval - and increasing acceptance of James by other shareholders - may be laying the ground for Fox to give the 42-year-old day-to-day control of the company sooner rather than later.
LITTLE ROCK, Ark. (AP) — After the state faced widespread backlash over measures critics cast as anti-gay, several Arkansas cities worried about the economic fallout are challenging the new laws by expanding their anti-discrimination protections.