GLOBAL MARKETS:  Another quiet session overnight with sentiment mixed and little in the way of key macro events to provide market direction. US fiscal cliff negotiations continue with President Obama rejecting the latest Republican counter-offer of US$800bn in reduced revenues. On the data front, the New York ISM surprised to the upside in November. US equities were a touch weaker ahead …

 US House Speaker John Boehner tabled a plan to avert the fiscal cliff that left out tax increases for the wealthy and was rejected within an hour by the Whitehouse The plan also highlighted divisions among factions of the Republican Party. Boehner’s plan partly entails targeting US$800 billion in revenue over a decade from overhauling the tax code, closing loopholes …

PGG Wrightson and its majority shareholder Agria have signed a memorandum of understanding with China’s Administrative Authority for Yangling Agricultural High-Tech Industries Demonstration Zone. In a statement to the New York Stock Exchange the  companies said they will develop a high-profile agriculture showcase under the name, The China Yangling – New Zealand Agriculture Showcase. The Companies expect to benefit from preferential …