Fed may cut bond buys next month: Chicago Fed’s Evans
The Federal Reserve will probably reduce its bond-buying program later this year, and depending on the economic data could do so as early as next month, Chicago Fed chief Charles Evans said.
US accuses Bank of America of mortgage fraud
The US government has filed two civil lawsuits against Bank of America for what the Justice Department and securities regulators said was a fraud on investors involving $850 million of securities.
UBS to pay $49.8m to settle CDO fraud charges
UBS AG has agreed to pay $US49.8 million to settle US SEC charges it misled investors about a risky mortgage bond transaction that soured during the financial crisis, the regulator said.
China seen open to importing more GMO crops
China has approved its first shipment of genetically modified Argentine corn,a signal that the nation may import GMO crops from other producers too.
ADM profit falls on GrainCorp, bribery costs
Archer Daniels Midland has reported lower second-quarter profit after losing money on currency hedges related to its acquisition of GrainCorp and laying aside funds to cover a foreign corruption probe.
Surging exports may boost US economic growth
The US economy likely grew faster than initially reported in the second quarter, thanks to a sharp narrowing in the trade deficit to its lowest in more than 3-1/2 years in June.
British economy bounces back
British manufacturing grew much more strongly than expected in June, suggesting the country’s recovery is broadening just as the Bank of England prepares to set out its plan for steering the economy back to health.
Blackstone explores $US4.5bn La Quinta sale
Blackstone Group is exploring a sale of La Quinta Inns & Suites, a budget hotel chain it values at around $US4.5 billion, a person familiar with the matter said.
India names Rajan as next central bank governor
India named Raghuram Rajan, a former IMF chief economist who in 2005 predicted the global financial crisis, to lead its central bank as the country struggles to defend a rupee that hit a record low on Tuesday.
Radioactive water from Fukushima reactor ‘may overflow’
The operator of the wrecked Fukushima nuclear power plant says it is struggling with its latest efforts to stop contaminated underground water leaks from running into the sea.
Play about Bradley Manning wins drama award
A play about WikiLeaks source Bradley Manning has won a major drama award in Britain.
Japan shows off biggest warship since World War II
apan has unveiled its biggest warship since World War II, a huge, flat-top destroyer that has raised eyebrows in China and elsewhere because it bears a strong resemblance to a conventional aircraft carrier.
Infant formula will ride out the storm and still be white gold
Infant formula providers were by far the biggest contingent of exhibitors at a Shanghai baby products expo, two weeks before Fonterra reported its contamination outbreak.
Drought worsens in south China
Scorching weather has worsened a drought that has spread in China’s eastern and southern regions since mid-July, with 3.5 million hectares of farmland affected and 4.39 million people suffering from a shortage of drinking water by Sunday.
World Indices
| S&P;/ASX 200 | 5,105.6 | - 5.7 | - 0.11% |
| ALL ORDINARIES | 5,088.0 | - 5.8 | - 0.11% |
| S&P;/ASX 100 | 4,234.2 | - 4.2 | - 0.10% |
| SMALL ORDS | 2,135.1 | - 7.1 | - 0.33% |
| Dow Jones | 15,518.74 | - 93.39 | - 0.60% |
| S&P 500 INDEX | 1,697.37 | - 9.77 | - 0.57% |
| NASDAQ COMPOSITE | 3,665.77 | - 27.18 | - 0.74% |
| Wilshire 5000 | 18,141.10 | - 13.58 | - 0.07% |
| FTSE 100 | 6,604.21 | - 15.37 | - 0.23% |
| CAC 40 INDEX | 4,032.57 | - 17.40 | - 0.43% |
| SMI PR | 7,996.79 | + 17.39 | + 0.22% |
| XETRA DAX PF | 8,299.73 | - 98.65 | - 1.17% |
| HANG SENG INDEX | 21,923.70 | - 298.31 | - 1.34% |
| - | % |
| NIKKEI 225 INDEX | 14,401.06 | + 143.02 | + 1.00% |
| SSE COMPOSITE/d | 2,060.50 | + 10.02 | + 0.49% |
