MONEY: NORTH KOREA’S TURN: DPRK Commandos Hold Invasion Drill
Wall Street futures point to slight rise in shares
Reuters – 7 mins ago (Reuters) NEW YORK – Futures for the Dow Jones industrial average, the S&P500 and the Nasdaq 100 are flat to 0.1 percent higher, pointing to a slight rise in equities on Wall Street on Friday. Full Story »
- In Asia overnight the Shanghai Composite surged 1.76%. Major European indices are lower this morning, and U.S. futures suggest a lower open.
- The Chinese government is cutting off subsidies for purchases of cars and trucks in rural areas, effective tomorrow. This comes after the government made similar moves in urban areas. Don’t miss: 17 facts about China that will blow your mind >
- China has increased the value of the yuan breaching the 6.6 USDCNY level for the first time since 1993. Similar moves are expected to occur in 2011, as China attempts to handle domestic inflation. Here’s why China really doesn’t have to revalue the yuan >
- Bird flu has been discovered at two different farms in South Korea. The government has responded by killing over 100,000 birds believed exposed to the virus, in an effort to prevent its spread to humans.
- Rains are crippling the Australian mining industry, hitting a region that produces 40% of the world’s coal for steel production. Rio Tinto, BHP Billiton, and Anglo American have all had to cancel contracts because of the rains.
- Rumors about a potential BHP Billiton acquisition of Anadarko continue to abound this morning. There’s some confidence the rumors are true as well, with the market well aware BHP has the cash after its failed bid for Potash.
- German Chancellor Angela Merkel is to offer her support for the euro in her New Year’s speech in Germany. She will say that the euro must be strengthened and that it is the “foundation of our prosperity.” Check out the scary reason Europe is doomed to crisis after crisis >
- At midnight tonight, Estonia will join the euro. It is the first former Soviet Republic to join the currency union. These could be the next dominos to fall in Europe >
- The co-founder of clothing firm The GAP has sold $147 million in shares over the last month. CNBC’s Patty Edwards suggests one reason for this may be the company putting itself up for sale.
- The U.S. Treasury is preparing to IPO Ally Financial, the ex-finance arm of GM. The Treasury is taking the first step by converting its $5.5 billion in preferred shares to common stock.
- Bonus: Alex Rodriguez’s kids liked ex-girlfriend Kate Hudson more than Cameron Diaz, because Kate also had a son.
Read more: http://www.businessinsider.com/10-things-december-31-2010-12#ixzz19h0hYfEL
Investors see Anadarko as good fit for BHP
Reuters – 2 hrs 31 mins ago
Craig McCaw to quit as Clearwire chairman
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Oil to end the year up 12 percent, average near $80
Reuters – 10 mins ago
ReutersSINGAPORE/LONDON (Reuters) – Oil was set to close the year up more than 12 percent, despite a slight decline on Friday, due to a resurgence in global demand, an unusually cold winter and falling inventories. Full Story »
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Skype could be designated illegal in China
Reuters – 21 mins ago
BEIJING (Reuters) – China will crack down on what it called illegal Internet telephone providers, according to a circular from the Chinese government seen on Friday that could potentially affect Internet calling service Skype. Full Story »
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London shares close lower on profit-taking
AFP – Thu Dec 30, 12:12 pm ET
AFPLONDON (AFP) – London’s main stock market closed lower on Thursday as investors took profits on recent gains. Full Story »
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Latin American economy outshone US, Europe in 2010
AFP – Thu Dec 30, 11:40 am ET
AFP/FileSAO PAULO (AFP) – In 2010 Latin America has thrown out the old rules to accommodate a new reality: a period in which its dynamic rebound from the global financial crisis left the United States and Europe in its dust. Full Story »
ndia Panel: Prospects Bright To Achieve Double-Digit Growth
12/31/2010 7:24AM – Dow Jones Business News
JSC VTB Bank VTB completes the first phase of TCB acquisition
12/31/2010 6:48AM – Dow Jones Business News
LONDON MARKETS: FTSE Heads South On Last Session
12/31/2010 6:01AM – Dow Jones Business News
Italy’s Berlusconi May Be Under Investigation Amid Alitalia Probe
12/31/2010 5:45AM – Dow Jones Business News
UK Cameron Foresees “Difficult” Year Ahead
12/31/2010 5:24AM – Dow Jones Business News
Algeria Oil Min:To Tighten Sonatrach’s Internal Control-Agency
12/31/2010 5:21AM – Dow Jones Business News
Germany’s Merkel Stresses Importance Of Euro
12/31/2010 4:44AM – Dow Jones Business News
PBOC Survey: Fewer Beijing Residents Plan To Buy Homes In Coming Year
12/31/2010 3:51AM – Dow Jones Business News
Use Of ECB Deposit Facility Thursday Highest In Reserve Period
12/31/2010 3:38AM – Dow Jones Business News
Foreigners Net Buyers Of VND60.31 Billion Vietnam Shares Friday
12/31/2010 3:07AM – Dow Jones Business News
NORTH KOREA’S TURN: DPRK Commandos Hold Invasion Drill
Lots more coming in 2011.
The Economy Will Add Only 127K Jobs A Month In 2011, And Unemployment Will Rise
A sector analysis shows no driver for jobs.
India Holds Emergency Meeting To Deal With Price Inflation
Food inflation of 14.44% is causing a crisis.
MORE PREDICTIONS FOR 2011: Barton Biggs Is Super-Bullish, Jeffrey Gerson Is Not
Biggs is in the majority.
China May Integrate Beijing And Tianjin, Form World’s Biggest City By Far
As many as 60 million people.
Finally China Decides Raising The Value Of The Yuan Is A Good Thing
Rising value of the renminbi being used to combat inflation.
Shanghai Surges 1.76% To Close Out Terrible 2010
Up on last day of annus horribilis.
Check Out The Heartwarming Photos Of The Obamas’ Holiday Celebrations
A White House gingerbread house, Bo-shaped cookies, and the official Christmas tree.
HOUSE OF THE DAY: Hank Paulson Loses $1 Million On His D.C. Home
The housing crisis makes no exceptions.
Ignore The National Association Of Realtors: Existing Home Sales Will Plummet In December
Expect a 21 percent decline.
Two Political Hotshots Who Were Embarrassed By The Blizzard, And Two Who Weren’t 
Hope you enjoyed Disney World, Governor Christie.
You’ve Never Heard Of The Second Most Important Person In MLB History
41 years ago today, he changed the game.
Pension “Armageddon” Hits Pittsburgh As State Threatens Takeover Of City’s Plan
This city needs to start talking bankruptcy.
Tata Autocomp Systems Files Draft Prospectus For IPO
12/31/2010 2:02AM – Dow Jones Business News
ICBC: See Overseas Branches’ 2010 Profit Around US$1 Billion
12/31/2010 1:57AM – Dow Jones Business News
Hong Kong Starts Tender For Affordable Housing Project In New Territories
12/31/2010 1:55AM – Dow Jones Business News
EBay Auction: Merger With EBay Gmarket Delayed
12/30/2010 11:20PM – Dow Jones Business News
Singapore November Bank Loans S$318.54 Billion Vs S$313.26 Billion October
12/30/2010 9:41PM – Dow Jones Business News
China Extends Anti-Dumping Measures For Type Of Optical Fiber From Japan, South Korea
12/30/2010 9:39PM – Dow Jones Business News
South Korea Reports 1st Bird Flu Outbreak In Over 2 Years
12/30/2010 9:32PM – Dow Jones Business News
Chongqing Vice Mayor Zhou Replaces Jiang As China Banking Regulator’s Vice Chairman – Official
12/30/2010 9:22PM – Dow Jones Business News
South Korea Announces Partial Cabinet Reshuffle
12/30/2010 8:18PM – Dow Jones Business News
Court Awards Victory To Texas In Greenhouse-Gas Rules Fight
12/30/2010 8:02PM – Dow Jones Business News
UPDATE: Report: China Clamping Down On Internet Telephony
12/30/2010 8:00PM – Dow Jones Business News
UPDATE:US Treasury Met With US, Foreign Banks On Dodd-Frank Rules
12/30/2010 6:32PM – Dow Jones Business News
Obama Says US Will ‘Never Waver’ In Defense Of Liberty
12/30/2010 6:27PM – Dow Jones Business News
CORRECT: Constellation Energy To Sell Texas Power Plant After April Buy
12/30/2010 6:19PM – Dow Jones Business News
UPDATE: Texas Launches Another Legal Challenge To U.S. Greenhouse Gas Rules
12/30/2010 5:53PM – Dow Jones Business News
Hearst, DirecTV Reach Retransmission Consent Agreement
12/30/2010 5:50PM – Dow Jones Business News
US Treasury Met With Goldman, Barclays Executives On Dodd-Frank Law
12/30/2010 5:42PM – Dow Jones Business News
Muni Mutual Funds See $1.4 Billion Outflows Latest Week – Lipper
12/30/2010 5:36PM – Dow Jones Business News
LATIN AMERICAN MARKETS: Anadarko Edges Up In Late Trading
12/30/2010 5:16PM – Dow Jones Business News
Texas Launches Another Legal Challenge To U.S. Greenhouse Gas Rules
12/30/2010 4:49PM – Dow Jones Business News
Read more: http://www.nasdaq.com/aspx/market-headlines.aspx#ixzz19gzYgxHF
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Earnings schedule for week of 1/03/11
AP – Thu Dec 30, 1:45 pm ET
Major companies tentatively scheduled to report quarterly earnings next week: Full Story »
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Estonia joins euro club riven by crisis, others wary
Reuters – 1 hr 46 mins ago
ReutersTALLINN (Reuters) – Estonia could be the last new entrant for some years when it becomes the 17th euro zone member on January 1, with the club’s deepening crisis of confidence likely to put off larger eastern European states for up to a decade. Full Story »
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Summary Box: Rates on fixed mortgages edge up
AP – Thu Dec 30, 4:25 pm ET
RATES RISE: The average rate on 30-year fixed mortgages rose to 4.86 percent from 4.81 percent in the previous week, Freddie Mac said. The rate on 15-year fixed loans rose to 4.20 percent from 4.15 percent. Full Story »
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Harsh U.S. words for Russia, but little impact on ties
Reuters – Thu Dec 30, 5:44 pm ET
WASHINGTON (Reuters) – The United States suggested on Thursday that an extended prison term for Russian former tycoon Mikhail Khodorkovsky was an abuse of justice, and a senior U.S. official said it may impede Russia’s entry to the World Trade Organization. Full Story »
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Blizzard delays $1 billion in holiday sales
Reuters – Wed Dec 29, 9:35 pm ET
ReutersNEW YORK (Reuters) – A blizzard in the Northeast this weekend postponed about $1 billion in holiday retail sales by keeping shoppers out of stores in the days after Christmas, research firm ShopperTrak said on Wednesday. Full Story »
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China orders land hoarding freeze as prices rise
AFP – Thu Dec 30, 11:44 pm ET
AFP/FileBEIJING (AFP) – China has ordered local officials to fine property developers who have left land vacant for more than one year as Beijing cracks down on hoarding that has been blamed for driving up real estate prices. Full Story »
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Oil prices dip, stay above 93 dollars in London
AFP – 17 mins ago
AFP/FileLONDON (AFP) – World oil prices dipped on Friday, a day after US data showed the country’s crude stocks had declined less than expected, analysts said. Full Story »
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Your Medicare taxes won’t cover what you’ll cost
AP – Fri Dec 31, 3:59 am ET
WASHINGTON – What you paid in Medicare taxes shows up on your W-2 income tax form every year. So when you retire, you want your money’s worth. Full Story »
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Porsche gets multi-billion US lawsuit thrown out
AFP – 7 mins ago
BERLIN (AFP) – German sportscar maker Porsche said on Friday a US court has thrown out a lawsuit brought by US hedge funds claiming more than two billion dollars in damages over its failed 2008 attempt to acquire Volkswagen. Full Story »
