Archive - Apr 1, 2014

• GM enters harsh spotlight as Congress hearings begin (Reuters)
• Facebook's Zuckerberg earns $3.3bn through share options (BBC)
• Sheryl Sandberg has sold more than half her stake in FaceBook (FT)
• Chinese Dragnet Entangles Family of Former Security Chief, Zhou Yongkang (WSJ)
• NHTSA chief: GM did not share critical information with U.S. agency (Reuters)
• Citigroup uncovered rogue trading in Mexico, fired two bond traders (Reuters)
• Corporate America’s overseas cash pile rises to $947bn (FT)
• Thai anti-government protester killed, rekindling political crisis (Reuters)
• China Milk Thirst Hands U.S. Dairies Record 2014 Profits (BBG)
• Caterpillar accused of ‘shifting’ profits (FT)
• New iPhone 6 screens to enter production as early as May (Reuters)

Among the key overnight events was the February Euro area unemployment report, which was unchanged at 11.9%, lower than the 12% median estimate; in Italy it rose to a record 13% while in Germany the locally defined jobless rate for March stayed at the lowest in at least two decades Euro zone PMI held at 53 in February, unchanged from January and matching median estimate in a Bloomberg survey HSBC/Markit’s China PMI fell to 48 in March, the lowest reading since July, from 48.5 in February; a separate PMI from the government, with a larger sample size, was at 50.3 from 50.2 the previous month NATO foreign ministers meet today to discuss their next steps after Putin began withdrawing forces stationed on Ukraine’s border Gazprom raised prices for Ukraine 44% after a discount deal expired, heaping financial pressure on the government in Kiev as it negotiates international bailouts.