This page has been archived and commenting is disabled.
Frontrunning: August 24
- Deutsche Bank Says Rout ‘Very Serious’ as Growth Outlook Dims (BBG)
- Great fall of China sinks world stocks, dollar tumbles (Reuters)
- Global Stocks Fall Sharply Amid Concerns About the Chinese Economy (WSJ)
- Stock Rout Spreads Through Europe After China Plunge (BBG)
- China stocks give up year's gains as 'national team' stays on bench (Reuters)
- The Fed Is Looking at a Very Different Dollar Than Wall Street (BBG)
- French train gunman 'dumbfounded' by terrorist tag (Reuters)
- How the Market Rout Is Turning Wall Street Upside Down (WSJ)
- Joe Biden Is Leaning Toward a 2016 Run (WSJ)
- Uber Unleashes Lobbyists in California to Reshape Driver Rules (BBG)
- Greek Election: Syriza 2.0 vs. What’s Left (BBG)
- Brent Oil Drops Below $45 First Time Since 2009 as Glut Persists (BBG)
- Ashley Madison hack sends shivers through hook-up, porn sites (Reuters)
- Brad Katsuyama’s Next Chapter (BBG)
- Truffles on Billionaire’s Farm Fuel South African Industry (BBG)
Overnight Media Summary
WSJ
- China's shares wiped out all of this year's gains, sending Asian markets tumbling, as fears about the deepening effects of a slowdown in the world's no. 2 economy rattle investors across the globe. (on.wsj.com/1U1xigJ)
- After stock investors suffered a sharp decline last week and investors flocked to the relative safety of U.S. Treasury, bonds are once again getting the upper hand, defying market sages who predicted tough times ahead in the vast debt market due to the prospect of rising interest rates. (on.wsj.com/1U1xjBj)
- Mondelez International Inc Chief Executive Irene Rosenfeld has made aggressive moves to cut costs, boosting the snacks giant's profit margins and stock price. But the arrival of a second major activist investor at the company is helping cement a widely held view on Wall Street: She could do more. (on.wsj.com/1U1xnB7)
- Chipotle Mexican Grill Inc plans to hire 4,000 employees in a single day next month, seeking to counter a tightening market for restaurant labor by dangling the possibility that high-performing recruits could someday earn six-figure salaries and stock in the burrito chain.(on.wsj.com/1JL6ZGF)
- Vice President Joe Biden is increasingly leaning toward entering the 2016 race, illustrating how, with just six months before the first presidential nominating contests, both major parties campaigns are in a state of flux. (on.wsj.com/1U1xLiR)
- The gap between the price offered and the trading price of a number of companies that are subject to pending takeover bids widened dramatically last week, a sign of investor nervousness about deals whose outcome could help determine whether the merger boom continues. (on.wsj.com/1U1xQD6)
- After record-breaking snowfall last winter triggered failures on Boston's transit system, workers are rushing to upgrade equipment while officials seek longer-term funding and oversight fixes. (on.wsj.com/1U1yBfH)
FT
UK Foreign Secretary Philip Hammond reopened Britain's embassy in Tehran on Sunday, ensuring that the nuclear agreement is a success and also encouraging trade and investment once sanctions are lifted.
Zurich Insurance is seeking more time for British insurer RSA's offer, after the two parties advanced on their prospective 5 billion pounds deal over the weekend. RSA will most likely ask to extend a deadline set for this Tuesday for Zurich to make an offer or retreat for at least six months.
A BT Group Plc executive has called for the United States to require its telecommunications companies to allow access to their networks at regulated prices, similar to rules in place in the United Kingdom.
NYT
- The large mutual funds that helped fuel rapid growth in developing countries have begun hastily retreating from those investments, contributing to the recent sharp decline in global markets. In the last week alone, investors pulled $2.5 billion from emerging-market bond funds, the largest withdrawal since January 2014. (http://nyti.ms/1I6fO6K)
- Prompted by a spurt of new minimum wage proposals in major cities, an expanding number of restaurateurs are experimenting with no-tipping policies as a way to manage rising labor costs. (http://nyti.ms/1I6idOA)
- German venture capitalist Klaus Hommels's firm, Lakestar, will on Monday announce a new fund worth 350 million euros ($400.96 million) for Europe's tech sector, one of the largest European fund-raisings so far this year. (http://nyti.ms/1JLJ4XB)
- Intel Corp will lead a $75 million equity investment in Mirantis, a little-known start-up specializing in open-source cloud software, and will spend another $25 million on bolstering its own resources for working with Mirantis-type products, according to several people familiar with the deal. (http://nyti.ms/1JLNI8d)
- Global markets continued to plunge on Monday, with stocks across Asia sliding sharply in early trading. Investors' concerns over China's slowdown and a souring view of once-favored emerging economies have rattled financial markets around the world in recent days, and showed no signs of letting up on Monday. (http://nyti.ms/1JLP3vL)
Hong Kong
SOUTH CHINA MORNING POST
- Hongkongers could soon have to accept mobile phone numbers starting with the inauspicious digits four and seven, as the city's insatiable appetite for smartphones threatens to see all vacant numbers used up within two-and-a-half years. The Office of the Communications Authority said there were 5.14 million numbers available for mobiles as of March but they would be gone by February 2018.(http://bit.ly/1fAmT8Q)
- Hong Kong Financial Secretary John Tsang expressed concerns over a possible "new round of financial crisis" due to a flare-up of tensions in Korea and volatile global financial markets triggered by devaluation of China's currency. Tsang also warned of "inevitable" impacts on the Hong Kong stock market following Wall Street's steepest one-day drop in four years on Friday. (http://bit.ly/1NOohAt)
- Hong Kong's major developers have raised interim dividend payouts in the first half of this year, a move that underlines their confidence they can meet annual sales targets amid a slowing mainland economy and an imminent rate rise that could dent home buying demand. Henderson Land was the most generous with a 12 percent higher interim dividend payout to its shareholders. (http://bit.ly/1fAn5F5)
THE STANDARD
- Watsons Hong Kong, a retail arm of CK Hutchison, says it is cautiously optimistic on local retail sales and will actively look for expansion in both brick-and-mortar stores and e-commerce space. The online shop of Watsons, which has more than 200 stores in the city, offers products not available in shops, such as baby carriages and carriers, according to General Manager Diane Cheung (http://bit.ly/1hBSCZc)
- Hong Kong saw its container throughput shrink 9.5 percent in July, slipping for the 13th straight month to a record low. But mainland throughput rose 5.2 percent in July. Sunny Ho Lap-kee, executive director of the Hong Kong Shippers' Council, said the mainland's "ridiculously low" port prices were a major cause of the Hong Kong's slump. (http://bit.ly/1I5VT7I)
HONG KONG ECONOMIC JOURNAL
- CK Hutchison Holdings is expected to post a 3.7 percent rise in its core operating profit at HK$14.03 billion ($1.81 billion) for the six months ended in June, while its net profit is seen to fall 51 percent to HK$13.85 billion, hit by a depreciation in the euro and a drop in oil prices, according to analysts' forecasts.
- Lingbao Gold Co Ltd said its controlling shareholder, Lingbao State-owned Assets Operation Limited Liability Company, plans to sell its 223.3 million shares, and has received approval from the State-owned Assets Supervision and Administration Commission of the Henan Province.
- 3943 reads
- Printer-friendly version
- Send to friend
- advertisements -


And those were the headlines very early in the morning:
Asia stocks slump as China falls gather pace, Reuters
China’s Stocks Sink Most Since 2007 as State Intervention Fails, Bloomberg
"slump"
"sink"
Yeah right...
I am not interested in the market crash; all I would like to know is did Suze Moarman tweet for help again?
Burbon or scotch for breakfast
Someone needs to step in and buy something.
it's just a storm in a tea cup
A CHINA TEA CUP
Forget that .25% increase in Federal Funds Rate.
Yellen just got permission to give critics the finger.
Total--Interest on the Public Debt, under Treasury, 2014 = $429.57 Billion
Total--Interest on the Public Debt, under Treasury, 2013 = $415.7 Billion
Total--Interest on the Public Debt, under Treasury, 2000 = $362.1 Billion
Total--Interest on the Public Debt, under Treasury, 1998 = $363.8 Billion
DP SORRY
Deutsche Bank feels they can't compete and now are strategizing for government and central bank socialism...
Maybe the US Federal Reserve should open up the TAF Auction Facility again like 2007... I mean TARP, TAF, LIRP/ZIRP/NIRP, QE, Bailouts and Bail-Ins have worked so well from Japan to China to EU to USA.
Citigroup Inc.,Citigroup Inc.*,,,,,,,,,,,,
Ticker,C US Equity,,,,,,,,,,,,
Includes Loans to:,"Citibank NA, Citibank NA, Citibank South Dakota NA, Citigroup Inc., Citigroup Inc., Citigroup Global Markets Inc., Citigroup Global Markets Inc., Citigroup Global Markets Inc. and Citibank NA",,,,,,,,,,,,
Identified in Fed Documents as:,"CITIBANK, CITIBANK NA, CITIBANK SD NA, Citigroup, CITIGROUP BROKER DEALER, Citigroup Global Markets Inc., Citigroup Global Markets Inc., Citigroup Global Markets Inc., Citigroup Global Markets Inc.-London and CITIBANK NA",,,,,,,,,,,,
Capital Raised From Home Governments,"$45,000.00 ",,,,,,,,,,,,
Programs,"AMLF, TAF, TAF, CPFF, AMLF, PDCF, TSLF, ST OMO, PDCF, DW",,,,,,,,,,,,
Country,United States,,,,,,,,,,,,
Industry,Banking,,,,,,,,,,,,
"Average Daily Balance
From 8/1/2007 to 4/30/2010","$19,739.16 ",,,,,,,,,,,,
Peak Amount of Debt,"$99,451.09 ",,,,,,,,,,,,
Peak Date,1/20/2009,,,,,,,,,,,,
Deutsche Bank AG,Deutsche Bank AG*,,,,,,,,
Ticker,DBK GR Equity,,,,,,,,
Includes Loans to:,"Deutsche Bank Securities Inc., Deutsche Bank Securities Inc., Deutsche Bank Securities Inc., Deutsche Bank AG/New York NY, Deutsche Bank AG/New York NY and Deutsche Bank Trust Co. Americas",,,,,,,,
Identified in Fed Documents as:,"Deutsche Bank Securities Inc., Deutsche Bank Securities Inc., Deutsche Bank Securities Inc., DEUTSCHE BK AG NY BR, DEUTSCHE BK AG NY BR and DEUTSCHE BK TC AMERICAS",,,,,,,,
Capital Raised From Home Governments,$0.00 ,,,,,,,,
Programs,"PDCF, TSLF, ST OMO, TAF, DW, DW",,,,,,,,
Country,Germany,,,,,,,,
Industry,Banking,,,,,,,,
"Average Daily Balance
From 8/1/2007 to 4/30/2010","$12,486.68 ",,,,,,,,
Peak Amount of Debt,"$66,011.00 ",,,,,,,,
Peak Date,11/6/2008,,,,,,,,
#fundermentalsmatter