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Daily Highlights: 5.25.10
Data provided by Egan-Jones Ratings and Analytics
- Britain's 1Q GDP growth revised upward to 0.3 percent from 0.2 percent.
- China cabinet agency urges action against rising food prices as higher inflation lurks.
- China, US sidestep Yuan confrontation as Europe dominates Beijing talks.
- Credit risk soars as Korea tension, Euro slump spook investors.
- Denmark reaches deal to trim public spending by $4.37 billion over 3 years.
- EU economy chief warns Europe will stagnate without major economic reforms
- European banks forced to pay more for short-term dollar borrowings than banks in US, Asia.
- Greece may put SNB's Hildebrand on losing side of Franc intervention fight.
- Home prices, consumer confidence in US probably increased; Bloomberg survey.
- N Korea's Kim Jong Il ordered military to prepare for combat last week, group says.
- Offshore drillers face more government and higher costs.
- Oil drops to near $68 in Asia as traders eye falling stocks markets, euro.
- Shanghai, China’s richest city, will introduce a property tax policy on a trial basis next month.
- Spanish savings banks plan 4-way merger combining $167B assets.
- US existing-homes sales increased in April for the second month in a row.
- World stocks fall sharply amid Europe debt worries as euro continues slide.
- BP had key role in Exxon Valdez disaster in Alaska.
- British Airways hit by 2nd day of crew strike.
- Cliffs Natural Resources proposes to acquire KWG Resources and/or Spider Resources.
- Donaldson Co.'s Q3 net jumps 86% to $49.5M as revenues increased by 20% to $497.6M.
- Ford plans to make more of the components for its hybrid and electric vehicles in the US.
- Gentiva Health Srvcs to acquire Odyssey HealthCare for about $1B.
- IBM agreed to purchase software maker Sterling Commerce from AT&T Inc. for $1.4B.
- Japan's Rakuten is buying Buy.com of the U.S. for $250M.
- Marriott signed management agreements for seven high-end hotels in China.
- Phillips-Van Heusen swung to Q1 loss of $27.6M on charges related to Tommy Hilfiger buyout.
- Prudential Plc shares fall in Hong Kong debut ahead of equity sale to fund AIA.
- Toyota suspends sales of Lexus LS on recall.
- Walt Disney formally terminated negotiations to buy back Miramax Films.
Economic Calendar: Data on Case-Shiller 20-city Index, Consumer Confidence to be released today.
Earnings Calendar: AZO, BH, DSW, DY, HEI, MDT, SAFM, SXE, TIVO.
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http://monkeyfister.blogspot.com/2010/05/major-change-down-below.html
Things are getting more and more interesting in the GOM. Looks like the gas and oil are comming from the seabed itself and not only from the leaking pipe.
In other news, European politicians and central bankers still consider themselves the ruling class and cover each others incompetent ass. Economic ruin to ensue.
Only in Europe? I think you guys are in a privatly owned government also you know!
Read this, somehow it doesn't show up on cnn or cnbc...
http://babelfish.yahoo.com/translate_url?doit=done&tt=url&intl=1&fr=bf-home&trurl=http%3A%2F%2Fwww.hln.be%2Fhln%2Fnl%2F2764%2Fmilieu%2Farticle%2Fdetail%2F1109592%2F2010%2F05%2F25%2FBP-trekt-zich-niks-aan-van-verbod-en-sproeit-gewoon-door-met-kankerverwekkend-gif.dhtml&lp=nl_en&btnTrUrl=Translate
babblefish'd
And for comedy relief: nicely timed article over at FT alphaville by BOE Posen about how Japan was too timid in its response and didn't utilize the "creative" measures implimented by the Fed
China cabinet agency urges action against rising food prices as higher inflation lurks.
Price controls! The short path to increased starvation!
Chavez would disagree with you!
It's the capitalists who are sabotaging the country!
Price controls are what we've been doing with everything since this crisis began.
Price controls on houses, interest rates, private debt, Tier-n capital, you name it...
Another highlight - We are about to hit $13 trillion. Watch this !! http://www.usdebtclock.org/
this is a test