Daily Highlights: 10.12.09
- Asian stock markets mixed on Monday before a string of US earnings reports this week.
- Australia to expand lifeline for residential mortgage-backed securities by $7.2B.
- British PM Gordon Brown to announce sell-off of public assets.
- Central banks flush with record reserves are snubbing dollars in favor of euros, yen.
- China shares mixed on profit-taking and pressure of IPOs.
- Crude oil rises for third day as demand may increase on economic recovery.
- Oil rises above $72 as investors eye US company earnings this week.
- Derivatives regulation proposals in US House move closer to Obama's plan.
- Fed to hand out the first $4 billion stimulus funds to spread high-speed Internet connections.
- Kuwait backtracks on call to delay Gulf currency union
- New data suggest that foreclosures are rising in more expensive housing markets.
- Singapore raises 2009 economic forecast, strengthening regional recovery.
- Steel demand may rise 9.2% on rebound in US, Europe: World Steel.
- UK hopes to cut $25B from its debt pile by selling off a portfolio of state-owned assets.
- US Bond markets closed today for Columbus Day holiday.
- $16.8B UK pension fund of Dutch Shell Group, to start investing in alternative assets.
- Abu Dhabi's Aabar Invt takes a $328M stake in Brazilian unit of Banco Santander.
- American Fincl to recognize ~$50M Q4 gain on sale of shares of Verisk Analytics.
- Cnooc and a Ghanaian partner in talks about making a rival $4B bid, against Exxon.
- Comcast is said to favor keeping NBC Universal's Zucker, Management team.
- Consolidated Thompson to buy Wabush Mines JV from US Steel, ArcelorMittal and Cliffs Natural Resources for $120M.
- Hero Group in talks with Malaysia's Proton to start assembling automobiles in India.
- MetLife plans to divest its Taiwanese unit through an auction as soon as late October.
- Perot Systems acquires China operations of BearingPoint Inc.
- Philips posts unexpected profit in Q3 as consumer unit earnings more than double.
- RAK Properties is halting parts of a $3.3B project until market conditions improve.
- SEC investigates KB Home regarding "possible accounting and disclosure issues."
- Sun Bancorp to add to loan loss provision, incur other charges in Q3.
- Sunoco, Valero shut refineries - the most since early 1980s - as winter no match for fuel glut.
- Tata Motors raises $750M by selling global depositary shares, convertibles for repaying debt.
Recent Egan-Jones Ratings Actions
CHEVRON CORP (CVX)
EL PASO CORP (EP)
EXXON MOBIL CORP (XOM)
KIMBERLY-CLARK CORP (KMB)
OCCIDENTAL PETROLEUM CORP (OXY)
ORBITAL SCIENCES CORP (ORB)
PEPSICO INC/NC (PEP)
PROGRESS ENERGY INC (PGN)
AMERICAN FINANCIAL GROUP INC/OH (AFG)
INTERNATIONAL SPEEDWAY CORP (ISCA)
JACK IN THE BOX INC (JACK)
MARRIOTT INTERNATIONAL INC/DE (MAR)
SPEEDWAY MOTORSPORTS INC (TRK)
Data provided by Egan-Jones Ratings Actions