Flash: CSX Corp Earned $1.06 EPS on $2.81B in Revenues
“Analysts polled by FactSet expected the nation’s third-largest railroad to report a profit of $1.04 per share on revenue of $2.73 billion.”
Comments »Flash: AT&T Comes in Line with $0.57EPS on $31.2B in Revenues
Pay Close Attention to Nigeria
No High Profile Candidates Yet, But There is Hope
Asian Markets Rise; Leaders Include Usual Suspects
A Potential Black Swan; Austerity to Disrupt Debt Expansion and Service
JP Morgan’s Thomas Lee: The Bull Market Will Continue
Bank of America to Spin Off Private Equity Unit
“Bank of America Corp (BAC.N) plans to spin off its last large private equity fund, with more than $5 billion in assets, and has no plans to make new private equity investments, a company spokesman said on Tuesday.
Bank of America, the largest U.S. bank by assets, will spin off BAML Capital Partners into its own unnamed firm.”
Comments »Politicians Use Debt Ceiling Limits as Extortion
China Takes Baby Steps To Float the Yuan and Become a Fiat Currency
“HONG KONG—China is accelerating efforts to push its currency deeper into world markets, racing ahead with a series of moves toward a new financial ecosystem with the yuan at its center.
A senior Hong Kong monetary official told The Wall Street Journal on Tuesday that China’s central bank is “actively considering” new rules that would make it easier to bring yuan funds raised offshore back onto the Chinese mainland.
Changing those rules would remove a choke point threatening the fast-growing market for the Chinese currency—also known as the renminbi—that is developing in Hong Kong and elsewhere outside mainland China’s borders. Currently, Chinese officials have to approve bringing any sizeable amount of currency—foreign and domestic—into the country. That system is aimed at closely managing the exchange rate and preventing speculation in the yuan.”
Comments »NASDAQ and ICE Sweeten Bid for NYSE
“Joint bidders NASDAQ OMX and IntercontinentalExchange just threw another $350 mn chip on the table to sweeten their merger offer for long-time rival NYSE Euronext.
NASDAQ and ICE today boosted their offer for the Big Board by adding a $350 mn ‘reverse termination fee’ and put renewed pressure on NYSE’s board to meet with them.”
Comments »Republicans Take Big Risks With Budget Plan
Mother Earth Loves a Financial Crisis
Did Obama Exaggerate His Way Into Libya ?
[youtube:http://www.youtube.com/watch?v=xmTxV5UaIbU 450 300]
Comments »Gulf Permits Open Up For Drilling in the Gulf
Will the Real Elliot Ness Please Stand Up?
Analysts: U.S. Debt Downgrade Would Help Stocks and Hurt bonds
“When Standard & Poor’s says it might lower its top AAA rating on U.S. government debt, the stock market fell sharply. Traders were worried that if a downgrade happened, it would send interest rates higher. And, in turn, raise companies’ borrowing costs.
But short-term investors were driving the markets Monday. For individual investors who are in the market for the long haul, a downgrade might not be as devastating as it seemed at first — especially if their biggest investment is in the stock market.”
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