Guest View
User: Pass: | become a member


Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Frontrunning: April 16

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

  • Downgrades Loom for Banks (WSJ)
  • China Loosens Grip on Yuan (WSJ)
  • Sarkozy Embraces Growth Role for ECB (WSJ)
  • A Top Euro Banker Calls for Boost to IMF (WSJ)
  • Wolfgang Münchau – Spain has accepted mission impossible (FT)
  • Hong Kong Takeovers Loom Large With Banks Lending Yuan: Real M&A (Bloomberg)
  • Banks urge Fed retreat on credit exposure (FT)
  • Drought in U.K. Adds to Inflation Fears (WSJ)
  • France faces revival of radical left (FT)
  • Euro Area Seeks Bigger IMF War Chest as Spanish Concerns Mount (Bloomberg)
  • Australia eases Myanmar sanctions (Reuters)

Overnight media summary via RTRS

WSJ

* Hourly rates for the top quarter of law-firm partners rose 4.9 percent last year, while those for the bottom quarter rose just 1.3 percent, widening the gap in the corporate legal market.

* Opening arguments are expected to begin as soon as Tuesday in the legal showdown between Google and Oracle . Oracle alleges that Google’s Android mobile-phone software infringes on Java patents and copyrights.

* China made one of its strongest moves yet to show that it believes the yuan is ready to become a global currency by loosening daily trading limits.

* Chinese companies are stepping up acquisitions in Japan — a trend likely to accelerate as it relies on China’s growing wealth to help rebuild Japan’s businesses.

* Carlyle Group plans to sell 30.5 million shares priced between $23 and $25 in its initial public offering, valuing the firm toward the lower end of what had been expected.

* Top European Central Bank official Jörg Asmussen called on the rest of the world to pledge more money to the International Monetary Fund’s crisis war chest, a view expected to put Europe at odds with other regions at talks in Washington later this week.

* The Federal Communications Commission proposed a $25,000 fine on Google accusing the search giant of deliberately obstructing an investigation into whether the company violated federal rules when its street-mapping service collected and stored data from unencrypted Wi-Fi networks in 2010.

FT

CODELCO BUYS IN COPPER TO MEET DELIVERIES

The world’s largest copper miner Codelco has been forced to buy from other miners and traders to meet its deliveries to customers, a rare move that underscores how the mining industry is struggling to lift output to meet demand for the red metal.

ANDROID FACES FIRST BIG COURT CHALLENGE

Google’s Android operating system will face its first big court challenge on Monday as a trial gets under way in California to consider a claim from software group Oracle that could top $1 billion.

EU LOOKS TO DUTCH AUDIT CHANGE FOR REFORM

Leading Dutch companies face having to change their auditor at least once every eight years under rapid reforms that could herald a similar crackdown across the European Union.

BARCLAYS’ TAX DEALS FACE US SCRUTINY

Barclays’ controversial tax planning business will come under fresh scrutiny in a U.S. court this week over whether a transaction designed by the bank cost the U.S. government more than $1 billion in lost tax receipts.

US PROBES COBALT’S LINKS IN ANGOLA

Three of the most powerful officials in Angola have held concealed interests in an oil venture with Cobalt International Energy, the Goldman Sachs backed explorer whose operations in one of the world’s most promising energy frontiers are under investigation by U.S. authorities, the Financial Times has learned.

BANKS URGE FED RETREAT ON CREDIT EXPOSURE

Wall Street banks are resisting a Federal Reserve plan to limit their exposure to individual companies and governments, warning it will cut a combined $1.2 trillion from credit commitments at Goldman Sachs, JPMorgan Chase, Morgan Stanley, Bank of America and Citigroup .

LANDLORDS WARN ON UK STAMP DUTY

The UK’s largest residential landlords have warned that their industry has been put at risk by the government’s use of punitive stamp duty taxes to curb the practice of buying houses through companies.

ING STARTS SELL OFF RACE FOR ASIAN ASSETS

Bankers for ING sent financial details of the Dutch group’s $6 billion Asian insurance businesses to a string of bidders late on Friday firing the starting gun on what will be a keenly fought contest for the units.

GOODWIN DEPARTS JEFFERIES TO SET UP BANK

Jonnie Goodwin, one of London’s best-connected media dealmakers, has left U.S. investment bank Jefferies, to set up Lepe Partners, an “independent merchant bank” focused on media and internet transactions.

VIRGIN FIGHTS APPROVAL OF BMI TAKEOVER

Sir Richard Branson’s Virgin Atlantic airline will appeal against what it claims was Brussels’ “lightning speed” approval last month of the contentious takeover of BMI British Midland by International Airlines Group, the parent company of British Airways.

NYT

* The F.C.C’s case against Google, described in an interim report, was left unresolved because a critical participant, the engineer in charge of the Street View project, declined to talk.

* In February, the Educational Development Corporation said it would remove its titles from Amazon, more evidence of the tumult over who gets to decide how much a book costs.

* While a trial for George Zimmerman, who was charged last week with second degree murder in Trayvon Martin’s death, will most likely not start for months, if ever, some in the news media are already predicting blanket coverage.

* Mark Lewis from Manchester, England, is one of a small handful of lawyers who have led the civil litigation against News Corporation over suspected phone hacking.

* A new form requires taxpayers to provide detailed information on their overseas financial accounts, including income derived from them.

* A $500 million undersea cable connecting Iraq to the rest of the world is a first step in a plan to turn the country into a conduit for Internet traffic between East and West.

Canada

GLOBE AND MAIL

Canadian Foreign Affairs Minister John Baird is calling on the Iranian government to save the life of an Iranian-Canadian who is on death row in Tehran. r.reuters.com/hen67s

- The aggressive strategy that led to the City of Toronto’s new labour peace was half a year in the making and had the Ford administration girding for a four-month to six-month strike with contingencies that included neutralizing the union’s strongest – and smelliest – weapon: Toronto’s garbage. r.reuters.com/jen67s

Reports in the business section:

- A report by one of the country’s leading forensic accounting firms alleges there is a “serious possibility” Sino-Forest Corp’s entire standing timber business in China is “an accounting fiction.” r.reuters.com/ken67s

- Canadian gold miner Iamgold Corp is now the biggest private employer in Burkina Faso, despite a vast array of security risks. r.reuters.com/nen67s

NATIONAL POST

- Political leaders from the Western Hemisphere ended their summit Sunday seriously divided over the issue of Cuba, as Canada and the U.S. blocked an attempt to bring the communist country into their fold. r.reuters.com/pen67s

- Canadian environmentalist David Suzuki has stepped down from the board of his foundation over fears his political views could put its charitable status at risk as Ottawa cracks down on organizations deemed to be too politically active. r.reuters.com/qen67s

Reports in the business section:

- The U.S. and the IMF welcomed China’s decision to widen the trading band on the nation’s currency, while analysts downplayed Sunday the likelihood of wide swings in the value of the yuan. r.reuters.com/sen67s

- Nearly three times more condo high-rises are being built in Toronto than are being built in New York City and nearly seven times more than in Chicago, according to Bloomberg News. r.reuters.com/ten67s


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a free SWW trial or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Dashboard

 Sector Performances (Today)

 Thermal Imaging