Daily Highlights: 7.9.10

• Asia stocks rise to two-week high, Won gains on rate increase.
• Australia delays proposed mandatory Internet filter; 3 ISPs agree to block child porn.
• Bank of Korea unexpectedly raises its policy rate by a quarter point, cites rising inflation.
• China reduces rare earth export quota by 72%, may cause U.S. trade dispute.
• China shares rebound on government pledge of easy credit, end week up 3.7 percent.
• China weighing nationwide resource tax to channel funds to help develop impoverished western regions.
• ECB signals an end to aid program.
• Euro continues rise against dollar on hopeful economic signals, climbs above $1.27.
• Judges reject White House's drilling ban request.
• Oil futures advance as US jobless claims slow, crude stockpiles decline.
• A. Schulman's Q3 profit surged to $25.8M on tax benefits and 41% rise in sales.
• Air Products raised its offer to acquire Airgas by 6% to $63.50 a share in cash.
• Big 5 Sporting Goods cuts Q2 earnings view on soft sales.
• BYD Co's June car sales down 21% vs May - official.
• CEMEX to sell non-core aggregates, concrete block assets in Kentucky for $90M.
• Costco's June same-store sales grew 4%, below the average analyst estimate of 4.2%.
• Google CEO says he expects China to renew web license.
• Greenbrier Cos. swings to Q3 profit of $4.6M on higher margins, despite 13% dip in revs.
• Intel, AMD face growing worries of PC slowdown.
• J&J starts disclosing drug unit's payments to doctors.
• Lawson Software's Q4 net falls 30% on restructuring charges; sees Q1 EPS below cons.
• Maersk Chief will slow pace of acquisitions on asset prices.
• Merck to close 8 research sites and 8 manufacturing plants to hit cost-saving targets.
• MLM Info Srvcs, a closely held provider of corporate-tax software being sold.
• Time Warner sells $3B of debt.
• UniCredit CEO confident on stress test outcome for bank.
• Walt Disney to sell its Miramax film unit for $675M to a consortium of investors.
• WTO to delay until mid-Sept its ruling on public subsidies given to Boeing by US.

Economic Calendar: Data on Wholesale Inventories to be released today.

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Data provided by Egan-Jones Ratings and Analytics

Comments

[Sudden Debt]

Tyler, a while ago, you posted something about food shortage because of the dry seasons.

I've now had a confirmation on that one that most of the harvest will be 35 to 50% below normal in Europe to!

Do you got anything more about it?

[Eternal Student]

+1. Thank you very much for posting that. It's in the news if you google it.

[Sudden Debt]

China reduces rare earth export quota by 72%, may cause U.S. trade dispute

That normally should push Tesla back down.

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