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09 January 2013
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  Top Stories 
 
  • DISH tops Sprint's bid for Clearwire
    DISH Network made a tentative offer of $3.30 per share for wireless company Clearwire, slightly more than Sprint Nextel's offer of $2.97 a share. DISH Chairman Charlie Ergen says the offer is part of a move to get into the wireless-broadband market. Clearwire says DISH's offer faces several conditions and uncertainties. Reuters (09 Jan.) LinkedInFacebookTwitterEmail this Story
  • Euribor contributors might exit amid difficulty and liability
    Rabobank Groep's departure from contributing to the Euro Interbank Offered Rate might spark a wider exit, said Cedric Quemener, director of Euribor-EBF. Rabobank says a decline in interbank lending has made it difficult to calculate the benchmark, and others note the legal liability and regulatory burden associated with it. Bloomberg (08 Jan.) LinkedInFacebookTwitterEmail this Story
  • Goldman group reportedly involved in proprietary trading
    Multi-Strategy Investing, a unit of Goldman Sachs Group, invests about $1 billion of Goldman funds on stocks and bonds despite the bank's recent assurances that it no longer engages in such activities, say sources who worked for or with MSI. The group is an indication of how Goldman works around regulations designed to rein in proprietary activities, Bloomberg reports. Bloomberg (08 Jan.) LinkedInFacebookTwitterEmail this Story
  • Lew reportedly is likely choice for U.S. Treasury chief
    White House Chief of Staff Jack Lew might succeed Timothy Geithner as Treasury secretary, sources say. Lew is said to have helped supervise White House strategy during budget negotiations while keeping Wall Street executives up to date. Bloomberg (08 Jan.) LinkedInFacebookTwitterEmail this Story
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  Market Activity 
  • Asian-Pacific markets rise as earnings season starts
    Most share markets advanced Wednesday in Asia-Pacific after Alcoa reported profit for the fourth quarter, launching earnings season on an optimistic note. Japan's Nikkei 225 gained 0.7%. Hong Kong's Hang Seng Index rose 0.5%. China's Shanghai Composite closed unchanged. Taiwan's Taiex edged up 0.2%. Australia's S&P/ASX 200 added 0.4%. South Korea's Kospi slid 0.3%. India's Sensex declined 0.4%. MarketWatch (09 Jan.), The Economic Times (India) (15 Jan.) LinkedInFacebookTwitterEmail this Story
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  Economics 
  • Economists doubt BoE will loosen money
    In a survey, economists predicted that the Bank of England will not further loosen monetary policy. Though the U.K. risks another recession, economists find it unlikely that a money-printing program, halted in November, will resume. Reuters (08 Jan.) LinkedInFacebookTwitterEmail this Story
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  Geopolitical/Regulatory 
  • Chinese regulator reportedly intensifies IPO scrutiny
    The China Securities Regulatory Commission is requiring underwriters and auditors of companies applying for an initial public offering on the mainland to re-examine financial statements, sources say. Self-inspection, which will continue through March, reportedly aims to improve the quality of listed companies. Reuters (09 Jan.) LinkedInFacebookTwitterEmail this Story
  • Analysis: Cabinet could become problem for Japan's Abe
    Japanese Prime Minister Shinzo Abe's Cabinet is so extreme in conservatism and nationalism that, in time, it could hinder economic revival, according to The Economist. "Abe must hold his nerve on China, but rein in his own nationalist instincts, and keep the ghosts of the past locked safely in the [Liberal Democratic Party's] cellar," the magazine notes. "Such restraint would always have been difficult; Mr Abe's new cabinet makes it almost impossible." The Economist (free content) (05 Jan.) LinkedInFacebookTwitterEmail this Story
  Financial Products 
  • Artivest designs ETF to profit from resource scarcity
    Artivest Advisers filed with the Securities and Exchange Commission to launch an exchange-traded fund that would invest in stocks and fixed-income securities likely to benefit from global resource scarcity. The actively managed Commodities Supercycle Artivest Trust ETF would take long and short positions in securities whose performance is influenced by commodity-price movement, according to the filing. IndexUniverse.com (08 Jan.) LinkedInFacebookTwitterEmail this Story
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