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.


No comments yet! Be the first to add yours.