Seagate Guides Higher; Stock Up 6%
Eli Lilly Forecasts Lower Profits
Macy’s Boosts Profit Guidance and Doubles Dividend
Pepsi Considers 4k Job Cuts
KPMG May Send MF GLobal Cash Back To Clients by the End of This Month
Estimates for Alcoa, AA, Have Cratered; Net Income Estimates are Down 94%
European Banks Tank; Story on Unicredit, Deutsche Bank, & Commerzbank
Nikkei Trading Lower this Evening
European Nations Agree to Ban Iranian Oil
“European governments have agreed in principle to ban imports of Iranian oil, EU diplomats said Wednesday, dealing a potentially heavy blow to Tehran just months before an Iranian election.
“A lot of progress has been made,” one EU diplomat said, speaking on condition of anonymity. “The principle of an oil embargo is agreed. It is not being debated anymore.”
Comments »Automakers Forecast Weaker 2012 Sales in the U.S.
Weak economic growth will be the reason lower sales may be posted this year.
Comments »MF Global unloading assets heavily to GS in bankruptcy runup
Comments »(Reuters) – MF Global unloaded hundreds of millions of dollars’ worth of securities to Goldman Sachs in the days leading up to its collapse, according to two former MF Global employees with direct knowledge of the transactions. But it did not immediately receive payment from its clearing firm and lender, JPMorgan Chase & Co (NYSE:JPM – News), one of the sources said.
The sale of securities to Goldman occurred on October 27, just days before MF Global Holdings Ltd (Other OTC:MFGLQ.PK – News) filed for bankruptcy on October 31, the ex-employees said. One of the employees said the transaction was cleared with JPMorgan Chase.
At the same time MF Global, which was run by former Goldman Sachs head Jon Corzine, was selling securities to Goldman to raise badly needed cash, the futures firm was also drawing down a $1.2 billion revolving line of credit it had with JPMorgan, according to one of the former MF Global employees.
JPMorgan spokeswoman Mary Sedarat said the bank did not withold money because of the line of credit. She declined further comment on details of the transactions.
U.S. Auto Sales Up 1.8% for 12/11
GM is out with a 4.7% gain in auto sales. Kia and Chrysler were the big winners. Overall sales were up 1.8%.
Comments »Chrysler Sales Rise 37%
Ohio Orders the Temporary Closing of Fracking Operations After Earthquake
Other states have reported similar types of earthquakes after hydraulic fracturing has taken place.
Comments »Food Inflation May Have Peaked in the U.S.
UniCredit’s Stock Flounders After a Below Market Stock Offering
Yahoo is Said to Name Pay Pal President Scott Thompson as CEO
BREAKING: SANTORUM TAKES EARLY LEAD IN IOWA
Santorum 26.2%, Paul 22.9%, Romney 18%, Gingrich 16.2%, Perry 9.6%, Bachmann 6.3%
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