Frontrunning: August 23

  • Bernanke to aid recovery with gradual boost in dosage (Reuters)
  • China factory output cools in August: HSBC (Reuters)
  • German court to rule on Sept 7 on euro, Greek bailouts (Reuters)
  • European Banks Must Pay Up to Borrow $100B (Bloomberg)
  • A ‘no-growth’ boom will follow 2012 global crash (Market Watch)
  • Merkel and Sarkozy Relationship Betrays Europe Crisis (Bloomberg)
  • White House to Scale Back Regulations on Businesses (WSJ)
  • Japan's Maehara Enters Race for Prime Minister (WSJ)
  • 'Arab Spring' Gives Way to an Uncertain Autumn (WSJ)
  • Regime Digs In Against Rebels (WSJ)
  • Euphemism 101: Soft Data Spur Trims to Growth Forecasts (WSJ)

Global highlights from Egan-Jones

  • Asian stocks climb as Copper, Gold advance on speculation of Fed stimulus.
  • China overtakes U.S. as largest market for PC's.
  • China says Libyan oil projects benefit both sides and hopes for return to stability.
  • Gold futures traded over $1,900 in Asia on Tuesday, continuing its record-breaking run.
  • HSBC's China "flash" PMI strengthened to a two-month high of 49.8 in August.
  • Irene strengthens to category 2 storm, threatening northeast US coast.
  • Mortgage delinquency rate rises to 8.44%; Foreclosure starts fall to lowest since 2007: MBA.
  • Oil rises above $86 in Asia as Libyan rebels battle Gadhafi supporters in Tripoli.
  • US economic activity rose in July, according to the Federal Reserve Bank of Chicago.
  • Alpha Natural Resources Inc. said it approved the repurchase of up to $600M in stock.
  • Buffett-backed BYD slumps in Hong Kong trading after 99% plunge in profit.
  • Cerberus backs out of Innkeepers purchase as buyouts show signs of stress.
  • Delta Air Lines plans to order 100 Boeing Co. 737 single-aisle jets, deal est. at $8.58B.
  • Focus Media beats by $0.07, posts Q2 EPS of $0.44. Revs rose 13.1% to $179M.
  • Ford and Toyota said they will partner to develop a new gas-electric hybrids.
  • Foster’s to return $520M to shareholders to thwart SABMiller offer.
  • Goldman says Blankfein hired lawyer in relation to US inquiry.
  • International Paper, PE firm Atlas Holdings to combine their consumer-packaging operations.
  • Lockheed Martin acquire QTC Holdings; terms of the agreement were not disclosed.
  • Lowe's to buy back up to $5B of its shares.
  • Maxim Integrated to buy back up to $750M in shares.
  • Newmont Mining plans new underground exploration program at its Waihi site in New Zealand.
  • Regulators gave Exxon permission to restart a 20-mile segment of Silvertip pipeline in Montana.
  • Sanofi-Aventis in talks to buy a majority stake in India's Universal Medicare Pvt. Ltd.
  • Travelzoo to buy back up to 500,000 shares.
  • UBS AG plans to cut about 3,500 jobs to help reduce annual costs by $2.5B.

Economic Calendar: New Home Sales to be release today.



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