Japan’s factory output unexpectedly rose the most since December on production of parts for devices including Apple Inc.’s iPhone, providing a bright spot in an economy poised to shrink for a second straight quarter.

Can Washington make a deal on the budget and avoid the tax increases of the looming “fiscal cliff?” Major Garrett has a first look at President Obama’s proposals and the Republican reaction.

The historic listing of Fonterra units on the NZX caused mammoth volumes by New Zealand market standards and the biggest listing day stag that investors have seen for years. The non-voting units, which launched at midday today, surged as high as $6.95, a 26 percent stag before closing at $6.85 from an offer price of $5.50. The fund’s turnover was …