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Frontrunning: Halloween 2012 Edition

Tyler Durden's picture





 
  • In Darkened NYC, Safety On The List Of Concerns (AP)
  • New York Subway System Faces Weeks to Recover From Storm (Bloomberg) ... as we said
  • Power Outages May Last More Than a Week (WSJ)... same
  • U.S. stock markets to reopen on Wednesday after storm (Reuters)
  • Questions Cloud Market Reopening (WSJ)
  • Apple revolution shows signs of reboot (FT)
  • Euro Chiefs Set to Grant Greece Extension Amid Squabbles (Bloomberg)
  • Italy Bank Poll Casts Shadow Over Savings (WSJ)
  • Shocked UBS staff take to Twitter (FT)
  • Corporate China hit by unpaid bills (FT)
  • Panasonic Posts Loss of Nearly $9 Billion (WSJ)
  • BoJ independence called into question (FT)
  • Barclays hit by fresh U.S. investigations (Reuters)
  • Adoboli’s Girlfriend Said Confess, Co-Worker Said to Run (Bloomberg)

Overnight Media Digest

WSJ

* Megastorm Sandy's march of destruction claimed at least 43 lives and left more than eight million people without electricity by late Tuesday, in one of the largest storms ever to strike the East Coast.

* U.S. stock markets were preparing to open in the wake of Sandy on Wednesday, ending a shutdown that left investors unable to trade for two days and sparked recriminations over whether Wall Street should have been better prepared to handle the impact of such a storm.

* As the ruinous force of Sandy begins to diminish, the nominal pause it created in the U.S. presidential election campaign is about to fade away.

* Walt Disney Co said it is paying $4.05 billion in cash and stock for Lucasfilm Ltd, the company that produced "Star Wars" and its many sequels and prequels, and added that three new films will join the lucrative franchise, starting in 2015.

* The U.S. housing market continued to gain steam in August, with new data showing that home-price increases accelerated over the month while also spreading to more cities across the country.

* UBS confirmed Tuesday that it will cut risk-weighted assets by around 100 billion Swiss francs by the end of 2017, eliminate about 10,000 jobs across the bank and reorganize its investment bank to deliver more products and services to ultra-wealthy clients.

* Ford Motor Co overcame tough times in Europe to post a $1.6 billion third-quarter profit that showed the widening effect of the auto maker's focus on improving profit across its cars and trucks.

* Deutsche Bank reported a surge in investment-banking revenues in the third quarter as a rebound in client activity fuelled the best quarter ever for its fixed-income division.

 

FT

SHOCKED UBS STAFF TAKE TO TWITTER

UBS on Tuesday confirmed plans to cut 10,000 jobs as part of a radical restructuring to slim down its investment banking division.

US HURRICANE LEAVES TRAIL OF DEVASTATION

Businesses and residents across the northeast U.S. face billions of dollars of losses and days of disruption after Hurricane Sandy swept through the region.

HESELTINE WANTS BUSINESS CASH IN LOCAL HANDS

Britain's growth strategy of tax cuts and deregulation will not provide a fast track to economic prosperity and needs to be completely reassessed, according to a government review.

FIAT REVAMP TO AVOID 'CARMAGEDDON'

Sergio Marchionne has outlined a strategy for Fiat to survive a European "Carmageddon" by focusing on export markets rather than closing plants.

BP RAISES DIVIDEND AFTER RUSSIAN DEAL

BP has increased its dividend payouts in a signal to investors of its greater optimism that it is finally bouncing back from the 2010 Deepwater Horizon disaster.

DISNEY FINDS THE FORCE

Mickey Mouse has forged an unlikely alliance with Darth Vader after Walt Disney agreed a $4 billion deal to acquire Lucasfilm, the company behind the Star Wars films.

HALDANE OCCUPIES A STRANGE PLATFORM

A top BoE official has said the Occupy movement was right to attack the global financial system, in a speech to about 500 protesters, students and financiers in London.

 

NYT

* After closing the stock and bond markets for two days, the NYSE, Nasdaq and other trading platforms are set to resume normal operations on Wednesday, following nonstop meetings and extensive testing of their systems.

* Businesses in Northeast United States are trying to keep operations running after Hurricane Sandy knocked out power and transportation in many areas.

* Walt Disney Co, in a move that gives it a commanding position in the world of fantasy movies, said it agreed to acquire Lucasfilm from its founder, George Lucas, for $4.05 billion in stock and cash.

* Germany's chancellor and the leaders of five international economic organizations called on government leaders on Tuesday to take "decisive action" to help spur growth in the 17 euro zone countries and elsewhere in the global economy.

* Swiss bank UBS announced plans on Tuesday to eliminate up to 10,000 jobs and cut costs in a major overhaul that will squeeze its earnings in the short term.

* Ford Motor Co said it expected its profit in North America to support the rest of the company for the foreseeable future as it struggles with losses in Europe and mixed results elsewhere.

 

Canada

THE GLOBE AND MAIL

* New numbers reveal the federal government quietly cut spending by C$8 billion after Canadians handed the Conservatives a majority mandate.

* Canada will hold immigration levels steady for the seventh year in a row in 2013, but will make more room within its quota for what's quickly become its fastest growing category of newcomers. The Canadian Experience Class, launched only a few years ago, represents the future of Canada's immigration system under the Harper government -- where Ottawa places a hard nosed emphasis on attracting the best and brightest skilled workers.Reports in the business section:

* Hal Kvisle, chief executive of Calgary-based Talisman Energy Inc axed the company's 2013 budget by 25 per cent and is pulling back on exploration as he shifts the company's focus to bottom line results instead of costly growth.

* Bank of Canada Governor Mark Carney nudged lawmakers to consider tax incentives that might persuade cash-rich companies to boost investment.

NATIONAL POST

* Superstorm Sandy continued to lash parts of Quebec with wind Wednesday, with storm surge warnings in place in several regions across the province. The storm, which is weakening as it travels north, will impact on Canada's weather for days to come.

* With Justin Trudeau at the helm, the Liberals could instantly bounce from political ignominy to a majority government if an election were held tomorrow, according to new Forum Research poll commissioned by the National Post.

FINANCIAL POST

* Federal Industry Minister Christian Paradis dealt what appears to be the final blow Tuesday to BCE Inc's faltering bid for Astral Media Inc saying Ottawa doesn't "have any intention to intervene" in the proposed bid.

* More than 18 months after the revolution, political risk remains a serious concern for companies doing business in Egypt. Investors in gold miner Centamin PLC learned this fact first hand Tuesday, after an administrative court in Egypt ruled the company's concession on its flagship Sukari mine should be revoked

 

China

CHINA SECURITIES JOURNAL

-- A total of 2,493 Chinese listed companies posted a 2 percent fall in January-September net profit, with top shipping group China COSCO Holdings Co Ltd , biggest aluminum producer Aluminum Corp of China Ltd , and Angang Steel Co Ltd ranking the first three in making losses during the period.

SHANGHAI SECURITIES NEWS

-- The cumulative first nine months net profit of 19 listed brokerages fell 6.6 percent year-on-year, due to a soft initial public offering market.

CHINA BUSINESS NEWS

-- Gap Inc will increase its stores in China to a total of 46 by January 2013, aiming to gain increasing market share in the world's second-largest economy.

CHINA DAILY (www.chinadaily.com.cn)

-- Diversified U.S. manufacturer 3M Co will invest $120 million in research and development in China over the next five years and expects China's annual sales to exceed that of the United States in five to ten years.

-- Chinese businesses' views on various economic issues became more pessimistic in the third quarter, according to a survey of 100 businesses based in mainland China done by accounting firm Grant Thornton LLP.

 


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Wed, 10/31/2012 - 07:41 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Here ya go.....have some Jersey beach sand.

 

Wed, 10/31/2012 - 07:41 | Link to Comment Catullus
Catullus's picture

Blaming weak 4Q GDP on weather in 3...2...

Wed, 10/31/2012 - 08:43 | Link to Comment El Viejo
El Viejo's picture

GDP History

http://blog.yardeni.com/2012/10/us-economy.html

The economy will continue it's zombie walk until the middle class recovers. Period the End.

Wed, 10/31/2012 - 07:42 | Link to Comment vinayjha
vinayjha's picture

N market rallies on bad news, overnight spain, france and Germany pays more for auction. unemployment rate hit new high 11.6% and futures up 60. obama and ben must be happy.

http://www.freefdawatchlist.com

Wed, 10/31/2012 - 07:44 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Cause it could have been worse?

Wed, 10/31/2012 - 07:43 | Link to Comment EscapeKey
EscapeKey's picture

Panasonic posting an enormeous loss... I love their plasma range, for the money, the ST50 range is bloody fantastic - but at this stage, is anyone in the tech manufacturing sector short of Apple and Samsung actually posting a profit?

Wed, 10/31/2012 - 07:44 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

and it is all due to 'climate change'....to save our lifestyle, we must change our lifestyle. hmm? love me some experts.

 

http://www.cnn.com/2012/10/31/us/sandy-climate-change/index.html?hpt=hp_t1

Wed, 10/31/2012 - 07:45 | Link to Comment nmewn
nmewn's picture

Who gave the order to stand down on Benghazi?

There are only two that can...the Commander of AFRICOM or O'Barry.

Wed, 10/31/2012 - 07:53 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I doubt it was the Commander. Their job is take charge and figure the shit out later.

Wed, 10/31/2012 - 07:53 | Link to Comment TeamDepends
TeamDepends's picture

Puhlease, Obama gave us a phone for FREE.  Plus, we can trade these here food stamps for smokes.  Romney gon' do that?

Wed, 10/31/2012 - 07:57 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

He a hoe.

Wed, 10/31/2012 - 08:02 | Link to Comment EscapeKey
EscapeKey's picture

Yes, he is.

Food is the one thing that stands between stability and revolution.

There is fuck all difference between Obama and Romney. They're both Wall Street puppets. All else is rhetoric.

Wed, 10/31/2012 - 08:10 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

At this point I'll take the non-marxist puppet.

Wed, 10/31/2012 - 08:20 | Link to Comment TeamDepends
TeamDepends's picture

Come on, he just needs four more years.....

Wed, 10/31/2012 - 07:55 | Link to Comment Catullus
Catullus's picture

no one. their intelligence has always been bad in Libya. they have no idea who theyre fighting or why

Wed, 10/31/2012 - 07:56 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

nmewn, how many Spec op's guys have waken up to the fact the leadership in DC and Joint Chiefs are corrupt cowards who need to be cleaned off the face of the earth?..seems a general who got shit canned over this got a wake up call..no guts no glory.

Wed, 10/31/2012 - 08:01 | Link to Comment EscapeKey
EscapeKey's picture

Who gave the order about going to Benghazi in the first place.

Seriously, if it wasn't for oil, there would be fuck all Western units down there.

Syria can go kill themselves. It's their own fault, too, for having no (significant amounts of) oil in their backyard.

Wed, 10/31/2012 - 07:54 | Link to Comment lizzy36
lizzy36's picture

Canada wants a one term"pedigreed" MP with no real work experience as its Prime Minister? Justin Trudeau is just that man.

See the US for how well that works out!

Wed, 10/31/2012 - 07:58 | Link to Comment Dr Benway
Dr Benway's picture

And the Understatement of the Year Award goes to... drumroll...

 

"In Darkened NYC, Safety On The List Of Concerns"

Wed, 10/31/2012 - 08:09 | Link to Comment buzzsaw99
buzzsaw99's picture

they have nothing to fear from our fellow americans. that's almost as good as being surrounded by friends and family. [/sarc.]

Wed, 10/31/2012 - 08:11 | Link to Comment quasimodo
quasimodo's picture

This is the same utopia of Bloomberg, right? Surely you jest! They don't need any sidearms there.......snicker, minus the dumb joo that rants and raves about it.

Wed, 10/31/2012 - 08:09 | Link to Comment JPM Hater001
JPM Hater001's picture

It's both fun and sad that the UBS folks were caught off gaurd by the layoffs when we knew about it some time ago.

Thanks ZH

Wed, 10/31/2012 - 08:14 | Link to Comment quasimodo
quasimodo's picture

It's also funny and sad that ZH has been spot on with so many other "insightful" predictions. I'm curious what ZH has to say about the fucking price of an acre of farmground where I live. Just last week in my neck of the woods someone paid close to 22 large per acre. This guy had the balls to tell the other bidders "I WILL own that ground"........but hey, no bubble here, it can only go up

Wed, 10/31/2012 - 08:36 | Link to Comment SpanishGoop
SpanishGoop's picture

Move to Spain.

Land soon to be 90% off.

 

Wed, 10/31/2012 - 11:09 | Link to Comment JPM Hater001
JPM Hater001's picture

I've added Costa Rica to my list...and Singapore

Wed, 10/31/2012 - 08:39 | Link to Comment BLOTTO
BLOTTO's picture

Samhain - One of the biggest OCCULT days of the entire pagan calendar.

.

The Satanic Bible ranks Halloween as one of the two most important festivals on the Satanic calendar. 

.

 

4. Autumnal Equinox - 13 weeks - Minor Sabbath but does require human sacrifice

a. September 21 - Mabon - one of the Illuminati's Human Sacrifice Nights
b. September 21 -22 - Autumnal Equinox
c. October 31 - Samhain, also known as Halloween, or All Hallows Eve. This date is the Illuminati's highest day of human sacrifice

 

http://www.bibliotecapleyades.net/cienciareal/cienciareal20.htm

 

 

The annual calendar for the entire Western world is ordered by these Satanic festival times and days.

Wed, 10/31/2012 - 08:43 | Link to Comment youngman
youngman's picture

CNBC had a spokesman on the NYSE ..he just said they were giving some brokers THEIR private phone lines to use....not all mind you..just a few brokers so that they could get a good connection..this is an algos dream....so that millisecond just turned into a 2-3 second leadtime today at least.....man you have to love the greed of these people

Wed, 10/31/2012 - 09:31 | Link to Comment unununium
unununium's picture

Adoboli's boss took him for a walk and told him he was going to take the fall.

That's when your duty to your boss pretty much runs out of rope.

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