Daily Highlights: 8.17.09
- Administration backs away from public health insurance plan.
- Asian stocks decline on lower than expected Japanese GDP.
- China sends envoy to Washington to lobby against tire tariffs.
- Housing, Factory slowdowns in US probably eased, hinting at a recovery.
- Japan's economy grew for the first time since early last year; Q2 GDP up 0.9%.
- Largest hydro-electric plant in Russia, closed down due to accident.
- Pork plummeting 30% signaled in futures as swine flu cuts Chinese imports.
- Shanghai stocks tumbled 5.7% as commodity prices fell.
- Singapore exports fell 8.5% in July from the same month of 2008.
- Yen gains to 2-week high against Euro on Japan GDP, renewed bank concern.
- Air China to buy Up to 13% stake in Cathay Pacific from Citic.
- AT&T reaches tentative deal with union covering 8,900 core wireline employees
- Baosteel, China's mills win 35% iron ore price cut from Fortescue metals.
- Barclays, Societe Generale get Saudi license for investment banking.
- Berkshire Hathaway acquires stake in medical-supply maker Becton Dickinson.
- Blackstone to team with Shanghai govt on first domestic Chinese fund.
- China halts Linzhou Iron & Steel's sale amid worker protest.
- Chrysler plans to produce Fiat subcompact cars in Mexico.
- Dole Food Co. presented plans for an IPO with SEC to raise $500M.
- FDA approves Schering-Plough drug for schizophrenia, Bipolar.
- Fresnillo's 1H net profit fell 14.1% to $121.1M as revs fell 11% to $378.9M.
- JC Penney just about broke even in Q2; revs down 7.9% at $3.94B.
- Lowe's July net income declines from $938M to $759M.
- Newcrest Mining's Y09 net rises 84.7% helped by soaring gold prices.
- Novartis files legal action against GlaxoSmithKline over a vaccine patent.
- NY's attorney general seen filing a lawsuit against Charles Schwab alleging civil fraud related to its marketing and sales of auction-rate securities.
- S.Africa's MTN Group wants India's Bharti Airtel to hike its offer by $1B.
- Swedbank to raise around $2.1B by issuing shares in a rights issue.
- ThyssenKrupp posts larger-than-est. Q3 loss of €639M; sales down 34% at €9.3B.
- US crackdown on clients of UBS widens to Hong Kong.
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