Business news for Thu, 20 Dec 2007 & with words banks+deal. 4 news.

BLUESCOPE Steel has defied the global credit crunch after securing cheap debt from a clutch of US banks to fund one of its largest acquisitions.

TOKYO (Reuters) - Investment banks Morgan Stanley and Lehman Brothers are among the bidders for a stake in Japanese house builder Daito Trust Construction Co , sources familiar with the deal said, in what could stack up to be one of the biggest buyouts ever in Japan.

AP - Japanese stocks snapped a seven-day losing streak Thursday, as concerns eased about the possibility of major Japanese banks becoming entangled in a fund to deal with the U.S. home loan crisis.

Japanese stocks snapped a seven-day losing streak Thursday, as concerns eased about the possibility of major Japanese banks becoming entangled in a fund to deal with the U.S. home loan crisis.