Frontrunning: August 29
- Noda Wins Party Election (WSJ)
- Tremonti out? Italy readies austerity changes (Reuters)
- European officials round on Lagarde (FT)
- China to Lock Up More Cash to Tighten Liquidity (Bloomberg)
- Central Bankers Worry Economy Still in Peril (WSJ)
- Italy Tests Appetite for Debt When ECB Is Absent: Euro Credit (Bloomberg)
- As U.S. Households Save, Economy Sputters (WSJ)
- China’s oil groups ready for more deals (FT)
- Irene Forecasters Missed Intensity While Getting Path Right (Bloomberg)
- Rebels push to Gaddafi hometown (Reuters)
Global headlines from Egan Jones
- Argentina will raise its minimum wage by 25% to keep pace with inflation.
- Asia stocks, Won gain on US economic outlook. Gold and the Swiss franc fall.
- Bernanke said the US economic recovery will accelerate.
- Central bankers gathered at an annual retreat in Jackson Hole, urge govts on expansion.
- China to lock up more cash to tighten liquidity.
- IMF approves final $450M funding for Iceland.
- UK housing demand weaken further after August price drop, Hometrack says.
- ABN Amro said it returned to a profit in H1, and will cut an additional 2,350 jobs.
- Anglo Irish sells US loans of face value $9.5B to two banks and Lone Star.
- ANZ is eyeing Tokyo Star Bank or Aozora Bank Ltd. as possible acquisition target.
- Apple won a further delay in the release of Samsung’s newest tablet in Australia.
- Dresser-Rand plans $150M in buybacks, which represents 5% of its outstanding stock.
- Eurobank Ergasias and Alpha Bank, Greece’s second and third-biggest banks, to merge.
- Fed to hold public hearings on Capital One Fincl Corp.’s acquisition of ING Direct USA.
- KPMG plans to put aircraft-parts supplier Aero Inventory up for sale next month.
- LG Display Co. is planning around $2.8B of capital expenditure in 2012.
- Multi-Color to acquire York Label Group for $356M.
- Pfizer Inc. won U.S. approval to sell a drug to treat lung cancer.
- PG&E proposes spending $769M to test gas pipelines.
- Sinopec posted record half-year profit that beat analysts’ estimates.
- Softbank will sell its 4% stake in Yahoo Inc. to repay loans from Citibank.
- Tiffany's fiscal second-quarter earnings rose 33% on strong international sales.
- UBS AG said it may begin levying a temporary charge on Swiss franc deposits.
Economic Calendar: Personal Income & Spending, PCE Prices, Pending Home Sale to be released.
Earnings Calendar: ABM, CFI, CWST, DCI, HPOL, LDK, SCMR, TIER, WINN.
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