Daily Highlights: 9.30.2010

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  • Asian stocks slump as banks decline on European concern.
  • China will speed up introduction of a trial property tax in some cities.
  • China Yuan weakens for first time in 13 days on threat of US trade sanctions.
  • China tightens limits on lending, plans tax to cool housing prices.
  • Eurozone inflation rate up at 1.8% in September.
  • Fed Presidents far from unanimous on need for further easing.
  • Gold extends rally to another record after Dollar slumps; Silver tops $22.
  • German unemployment rate declines to 7.2% in September.
  • Ireland said to hold talks to take a majority stake in Allied Irish Banks.
  • Japan stock down 2% on strong Yen, weak production data.
  • Moody's downgrades Spain's credit rating to Aa1 with outlook stable.
  • US House approves $58.4B in NASA spending through 2013.
  • Yellen, Raskin win Senate confirmation as Fed Board members.
  • Yen's impact on business sentiment may spur Bank of Japan to add stimulus.
  • ABB will pay $39.3M to resolve bribery, kickback claims.
  • AIG Board said to approve plan for US government to start reducing stake.
  • Anglo Irish, Allied Irish may need as much as €14.4B in extra capital: Irish Central Bank.
  • BHP, Rio Tinto rethinking a revision to their proposed $116B iron-ore JV in Australia.
  • Facebook, Skype in talks to mesh their communications services more closely.
  • Family Dollar Stores' Q4 net rises 23% to $74M, beating its own EPS view by 5 cents.
  • FedEx says 'tepid' US trails China, India as shipping revives.
  • FedEx to increase shipping rates for US domestic, export srvcs by 5.9% next year.
  • Goldman raises $2.25B from Industrial & Commercial Bank share sale.
  • JPMorgan asks Judges to delay rulings as it reviews foreclosures.
  • Liberty Mutual postponed the largest US IPO of 2010, co planned to raise almost $1.3B.
  • Stericycle Inc. to buy Healthcare Waste Solns from Altaris Capital for $245M.
  • Synnex Corp. said Q4 EPS will be as much as $0.97 vs. cons est. of $0.90.
  • Toyota Europe sees sales recovering after recall crisis, profits before volumes.
  • UBS not to pay dividends for some time due to Basel-based capital requirement rules.
  • VeriFone Systems offered to buy Hypercom Corp. for $5.25/sh ($290M) in cash.
  • Western Union reports prelim Q3 revs above consensus; reaffirms FY10 guidance.

Economic Calendar: Data on Q2 GDP, Initial & Continuing Claims, Chicago PMI to be released.

Earnings Calendar: ACN, AEHR, AZZ, CBK, CRAI, GRO, LWSN, MKC.

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Data provided by Egan-Jones