Frontrunning: August 22

Tyler Durden's picture
  • Majority of Swiss Polled Back SNB Currency Operations (Bloomberg)
  • Merkel, Van Rompuy Caution Against Euro Bonds (Bloomberg)
  • Italy’s Debt May Swell as Austerity Chokes Growth (Bloomberg)
  • Jackson Hole Build Up (FT)
  • China Previews Rising Leadership (WSJ)
  • Gaddafi Regime Collapsing (FT)
  • Prosecutor to drop Strauss-Kahn case: report (Reuters)
  • Inflation a danger for safe havens (FT)
  • Syria Revolt Fueled by Roof Fires and Tweets (WSJ)
  • Smithers Sees ‘Significant’ S&P 500 Rally (Bloomberg)
  • Layoffs sweep Wall Street, along with low morale (Reuters)
  • Japan July Supermarket Sales Post 2nd Y/Y Rise on Heat Waves (Market News)
  • Balanced Budget Acts as Dumb in Europe as in U.S. (Bloomberg)

Global highlights courtesy of Egan-Jones:

  • Brent oil falls near $105 as Libyan rebels overrun most of Tripoli, threaten to topple Gadhafi.
  • German economy still on course for 3% growth rate in 2011.
  • Osram files new complaints in lighting patent battles with South Korean companies.
  • South Africa speaks of compromise and incremental progress ahead of
    climate change talks.
  • Symbol of inter-Korean cooperation faces demise as North vows to scrap
    Seoul resort assets.
  • Thailand's economy shrank in 2Q to 0.2% as auto production falls in aftermath
    of Japan tsunami.
  • World stock markets mixed amid fears US economy is slipping back into recession.
  • Yen, Franc weaken amid speculation Japan, Switzerland ready to intervene.
  • Amlin swings into loss of $250M in 1H on 'unprecedented' catastrophe losses.
  • Bain Capital LLC agreed to buy MYOB Pty. Ltd., deal worth about $1.2B.
  • BlueScope Steel sheds 1,000 jobs to turn around $1.1B annual loss.
  • China Construction Bank 1H profit up 31% to $14.5B on higher fee, interest income.
  • China Windpower reports 1H net income of HK$237M.
  • Gazit-Globe Ltd Q2 profit grew to $70M, rental income higher.
  • GTC posts loss in Q2 of 36.5M Euros on revaluation of assets due to slowdown in
    the region.
  • Hollywood's Legendary, China's Huayi Bros raise $220.5M for co-production venture. n    Jyske Bank profit falls below consensus hurt by adjustments to its investments and
    nearly flat income.
  • Kenya's Standard Group 1H profits rise 6.5% to $2.48M due to sharply weakened
    local currency and high oil prices.
  • Maybank Q4 profit up 27% helped by robust regional loans growth but sees
    pressure on margins.
  • Micro Focus International Plc ends takeover talks with private-equity firms, resumes
    buyback.
  • Renesola adopts Rights Plan to defend shareholders if bid made. n    Verizon strikers return to work.