International Finance
Japan shares rise on cue from U.S. stock advance
[at MarketWatch] - Japanese shares edged higher Friday morning in Tokyo, with technology and auto firms among the gainers on the heels of an advance on the U.S. stock market. The Nikkei Stock Average rose 0.6% to 9,114.68, and the broader Topix was at 823.08, up 0.5%, with shares of Elpida Memory Inc. up 2.4%, Canon Inc. adding 1.1% and NTT Data Corp. rising 1.7%. Read
S.Korea Kia recalls some Soul, Sorento vehicles
[at Reuters] - South Korea s No. 2 automaker Kia Motors said on Friday that it had started a recall of some Soul and Sorento vehicles sold worldwide because of a fire hazard. Read
Nikkei edges up on techs, exporters; eyes on data
[at Reuters] - Japan s Nikkei edged up 0.4 percent on Friday, buoyed by tech and exporter shares after U.S. data showed improvement in housing and the job market, further calming fears about the pace of global economic recovery. Read
[$$] GM, Toyota and Ford Post Moderate Sales Gains in China
[at The Wall Street Journal] - GM, Toyota, Ford Gain in China The three auto makers on Thursday posted moderate August sales gains in China, a day after a research institute said the country s car sales accelerated sharply due to government incentives for fuel-efficient cars. Read
European Central Bank Optimistic About Economy
[at New York Times] - The central bank will continue to offer liquidity to banks that have trouble obtaining short-term funds from other banks or in the money markets. Read
Australian services improved but still contracting
[at MarketWatch] - The Australian services sector edged up month-on-month, according to data for August released Friday, but remained below the level indicating expansion. The Australian Industry Group/Commonwealth Bank Australian Performance of Services Index rose to 47.5, from 46.6 in July on a seasonally adjusted basis, but remained below 50, which separates expansion from contraction. Read
[$$] ECB President Dismisses Prospect of a Double Dip
[at The Wall Street Journal] - ECB Raises Growth Forecast The European Central Bank raised its central forecast for 2010 economic growth in the euro zone after leaving its benchmark interest rate unchanged at a record-low of 1%, as expected. Read
South Korea Q2 growth revised to 1.4% from 1.5%
[at MarketWatch] - South Korea s central bank revised down the nation s second-quarter economic growth rate Friday, as contruction investment was less than previously thought. The Bank of Korea said real gross domestic product rose 1.4% during the quarter, compared to an initial estimated growth of 1.5% made in July. Read
[$$] Canadian Rejected China Potash Offer
[at The Wall Street Journal] - Canadian Rejected China Potash Offer The investment chief of a big Canadian pension fund said he turned down a request to participate in a Chinese-backed consortium interested in launching a counterbid for Potash Corp. Read
Australia s Telstra says SouFun files for IPO
[at Reuters] - Australia s dominant phone provider Telstra Corp said on Friday its Chinese subsidiary SouFun Holdings Ltd had filed for an initial public offering with the U.S. Securities and Exchange Commission. Read
Pension fund approached on Potash bid
[AP] - The head of a major Canadian pension fund said Thursday a Chinese sovereign wealth fund is interested in making a joint bid with a Canadian pension fund for fertilizer-maker Potash Corp. of Saskatchewan Inc. Read
Canada fund approached by China investors on Potash
[Reuters] - Chinese and other investors have approached at least one big Canadian pension manager about a bid for Canada s Potash Corp to rival BHP Billiton s $39 billion hostile offer. Read
Latin American Markets: Petrobras shares up as oil-rights deal moves ahead
[at MarketWatch] - Sao Paulo-traded shares of Brazilian oil giant Petrobras rise Thursday in the wake of the company s long-awaited oil-rights agreement with the government. Read
Australia s opposition speaks on cost hole
[at MarketWatch] - Australia s Treasury has found a hole of up to 11 billion Australian dollars in the Liberal-National coalition s estimates over the cost breakdown of its campaign promises, according to reports. Read
Swedish krona hits high against euro
[at Financial Times] - The Swedish krona rose to a two-year high against the euro on Thursday after the Riksbank, Sweden s central bank, raised interest rates and delivered an upbeat assessment of the country s economy. Read
Lenders shunned on stress tests doubts
[at Financial Times] - Leading UK and continental European companies are increasingly shunning banks from Spain, Italy and even Germany because they do not believe the Europe-wide stress testing of banks gave a true picture of their financial health. Read
The EU can be a boon for Greece
[at Financial Times] - At first glance Greeks seem cursed by the EU. Their membership precludes an exchange-rate devaluation, the traditional way out of a financial crisis. But, on closer inspection, the EU offers a far more potent option. Read
Canadians See Red Over Chinese Potash Takeover
[at Forbes] - There is a cold north wind brewing in Canada over China s interest in Potash. Read
Judge: Paris Hilton may owe $160K over movie deal
[AP] - Paris Hilton may owe investors in her 2006 movie Pledge This! about $160,000 for failing to do enough promotion. U.S. District Judge Federico Moreno in Miami ruled Thursday that the 29-year-old celebrity socialite didn t live up to her contract when refusing interviews with publications in Russia and the United Kingdom. Read
ECB rules out double dip
[at Financial Times] - The European Central Bank on Thursday forecast that the eurozone would expand this year and in 2011 much more strongly than previously expected, ruling out a double dip back into recession. Read
EMERGING MARKETS-Latam stocks slip ahead of U.S. jobs data
[at Reuters] - * Latin American equities close slightly down * Brazil s Petrobras climbs after oil-for-shares details * Mexico s IPC up 0.24 percent, Bovespa dips 0.39 pct Read
Strong Yen Helps to Fuel Germany’s Export Boom
[at New York Times] - Europe tends to focus on the dollar exchange rate, but the yen’s recent rise is helping Germany significantly. Read
Canadian Markets: Canada stocks close up on materials, consumer gain
[at MarketWatch] - Materials and consumer discretionary stocks led the Canadian market to close higher Thursday with an across the board rise in commodities prices. Read
Israel will respond if the world confronts Hamas
[at Financial Times] - Direct negotiations between Israel and the Palestinian Authority began in Washington yesterday. Just two nights earlier Hamas issued a chilling reminder of the dangers Israel faces as we come to the table. Read
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