blog for sinoam: 08/08/2010

International Headlines

Date: Sat, 14 Aug 2010 05:02:07 -0400
>TOP STORIES as of 0900 GMT -- 14 August, 2010

> FLOOD-HIT PAKISTAN CANCELS INDEPENDENCE DAY EVENTS
Pakistan canceled independence day celebrations Saturday as a
second wave of floods continued to put millions in peril, the
nation's prime minister said.

> OBAMA BACKS MOSQUE NEAR GROUND ZERO
U.S. President Obama threw his support behind a controversial
proposal to build an Islamic center and mosque near New York's
ground zero.

> U.S. TROOPS AID DESPITE TALIBAN RISK
More than 100 U.S. troops are on the ground in a volatile area
of Pakistan, helping that government deliver supplies and rescue
people from flood-ravaged areas, but a U.S. general said Friday
when it comes to fights with the Taliban, rescue teams have had
"none."

> UK MINISTRY OF DEFENCE TO GET 'LEANER'
Britain's military chiefs have been told to prepare for a
"leaner and less centralized" Ministry of Defence.

> RUSSIA MOVING AHEAD WITH IRAN REACTOR
Russia says it will start loading a nuclear reactor in Iran with
fuel next week despite calls from the U.S. to wait for assurance
that Iran is making energy, not weapons.

> 7.2 QUAKE HITS SOUTH OF MARIANAS
A 7.2-magnitude earthquake has struck south of the Mariana
Islands, according to the U.S. Geological Survey.

> U.S. SENDING WILDFIRE HELP TO RUSSIA
The United States is sending aid to Russia to help battle the
wildfires there, the White House said Friday.

> DOCTORS OPERATE ON ZSA ZSA GABOR
Zsa Zsa Gabor underwent surgery for the removal of a blood clot
Friday night, a complication relating to her recent hip
replacement surgery, her publicist said.

~~~~~~~~~~~
BUSINESS
~~~~~~~~~~~

> EXPORTS DRIVE GERMAN GROWTH SPURT
A surprise surge in Germany's second quarter economic growth has
been put down to an increase in exports. But can the good times
in the typically pessimistic nation last?

> EAST INDIA CO. REBORN AS LUXURY BRAND
It was the world's first multinational company, a trading giant
during the colonial rule of the Indian subcontinent. This week,
The East India Company is being reborn as a luxury brand --
under Indian ownership.

> INDIA IMPOSES DEADLINE ON BLACKBERRY
India is expected to make a major decision Thursday regarding
BlackBerry, which is under serious scrutiny because the highly
encrypted messages in the device make it impossible for
intelligence agencies to monitor.

Markets, Friday, 08/13/2010

Date: Fri, 13 Aug 2010 17:31:07 -0400

|---------------------------------------------------------------------------|
| Dow : 10,303.15 down 16.80 | S & P : 1,079.25 down 4.36 |
| NASDAQ: 2,173.48 down 16.79 | Bond (10Y): 2.69% down 0.047
|---------------------------------------------------------------------------|

MARKETS:
Stocks end lower for 4th straight day
Indexes end lower for the fourth straight day after investors digested
dour economic reports on July retail sales and inflation.

U.S. stocks fall as global growth worries weigh

Date: Fri, 13 Aug 2010 12:00:53 -0400

U.S. STOCKS FALL AS GLOBAL GROWTH WORRIES WEIGH
U.S. stocks fall slightly to close out a tough week for the bulls, as
gains in data on retail sales and consumer sentiment fail to ease
investors' worries about the health of the global economy. See full
story.

HOENIG CALLS FED POLICY 'DANGEROUS GAMBLE'
In a sharp critique of Federal Reserve policy from a sitting policy
member, Thomas Hoenig said Friday that zero interest rates were "a
dangerous gamble" in a period of moderate growth.

AMERICAN CONSUMERS TAKE A BREAK
Nervous consumers aren't spending much this summer, adding to worries
about the momentum of the economic expansion, writes Rex Nutting.

CONSUMER CONFIDENCE EDGES UP IN AUGUST
Consumer confidence in August edged upwards but remained in depressed
territory, according to a report released Friday.

WAL-MART, HOME DEPOT TO HEADLINE RETAIL MOOD
As the retail industry heads into the crunch of second-quarter
earnings next week, investors will be watching results, led by Dow
components Wal-Mart and Home Depot.

International Headlines

Date: Friday, August 13, 2010

>TOP STORIES as of 0900 GMT -- 13 August, 2010

> MYANMAR JUNTA SETS FIRST ELECTION IN TWO DECADES
Myanmar will hold general elections on November 7, Myanmar
National Radio announces -- the first since 1990 when the
opposition's victory was rejected.

> GERMAN GROWTH FASTEST SINCE 1991
Germany on Friday reasserted itself as the economic growth
engine of the eurozone, after gross domestic product expanded at
a stellar 2.2 per cent rate in the second quarter compared with
the previous three months.

> FIDEL CASTRO TURNS 84 BACK IN SPOTLIGHT
More than five decades ago, a 32-year-old Cuban guerrilla
fighter named Fidel Castro led a triumphant column of bearded
revolutionaries into the Cuban capital.

> U.N.: WARTIME RAPE NOT 'INEVITABLE'
The United Nations is trying to put sexual violence on the
international policy map, telling political and military leaders
that wartime mass rape "is no more inevitable than, or
acceptable than, mass murder."

> WIKILEAKS TO RELEASE MORE DOCUMENTS
The founder of WikiLeaks says the whistle-blower website is
preparing to release another roughly 15,000 documents about the
war in Afghanistan.

> MORE RAIN, DEATHS IN CHINA MUDSLIDES
More rain is expected Friday in northwest China's Gansu
province, where the death toll from a massive mudslide continues
to climb.

> PAKISTAN PRESIDENT VISITS FLOOD-HIT AREAS
President Asif Ali Zardari finally got a firsthand look Thursday
at the destruction and suffering caused by torrential monsoon
rains and subsequent flooding.

> UGANDA PARADES BOMBING SUSPECTS
The Ugandan government paraded four suspects in last month's
deadly bombings in Kampala before reporters Thursday, with one
of the men calling himself an "evil man."

~~~~~~~~~~~
BUSINESS
~~~~~~~~~~~

> INDIA IMPOSES DEADLINE ON BLACKBERRY
India is expected to make a major decision Thursday regarding
BlackBerry, which is under serious scrutiny because the highly
encrypted messages in the device make it impossible for
intelligence agencies to monitor.

> UNION STRIKE VOTE COULD AFFECT 6 BRITISH AIRPORTS
Six major British airports, including London's Heathrow, could
shut down after employees of airport operator BAA overwhelmingly
voted to go on strike Thursday in a dispute over pay, union
officers said.

> NEW GENERATION OF ENTREPRENEURS
Life has its share of both stormy and sunny moments. There are
clouds (your car broke down) and then there are silver linings
(but at least it's a nice day for a walk).

Consumer prices rise 0.3% in July, slightly above expectations. Retail sales climb 0.4%, slightly below forecasts.

Date: Friday, August 13, 2010

Consumer prices rise 0.3% in July, slightly above expectations. Retail
sales climb 0.4%, slightly below forecasts.

Stocks open lower as investors digest the latest readings on inflation and retail sales. Dow dips 17 points.

Date: Friday, August 13, 2010

Stocks open lower as investors digest the latest readings on inflation
and retail sales. Dow dips 17 points.

Markets, Thursday, 08/12/2010

Dte: Thu, 12 Aug 2010 17:31:03 -0400

|---------------------------------------------------------------------------|
| Dow : 10,319.95 down 58.88 | S & P : 1,083.61 down 5.86
|
|NASDAQ: 2,190.27 down 18.36 | Bond (10Y): 2.74% up 0.050
|---------------------------------------------------------------------------|

MARKETS:
Stocks pare some losses but end lower
Investors worry over Cisco's cautious outlook and unexpected jump in
initial jobless claims.

Stocks end lower for 3rd straight day on poor jobless claims report and Cisco forecast. Dow drops 58 points, Nasdaq slides 0.9%.

Date: Thu, Aug 12, 2010 at 4:01 PM

Stocks end lower for 3rd straight day on poor jobless claims report and Cisco forecast. Dow drops 58 points, Nasdaq slides 0.9%.

GM posts $1.3 billion profit; new CEO named

Date: Thu, 12 Aug 2010 12:00:52 -0400

GM. POSTS. $1.3 BILLION PROFIT; NEW CEO NAMED
As General Motors reports second consecutive quarterly profit, the
auto maker says CEO Ed Whitacre Jr. will turn over the reins to
director Dan Akerson effective Sept. 1.

GM TO FILE FOR IPO WITHIN DAYS, REPORTS SAY
General Motors may reportedly file for an initial public offering of
stock as soon as Friday.

YEN WEAKENS AFTER OFFICIALS SHARPEN WARNINGS
The U.S. dollar gains against its Japanese counterpart amid reports
that Prime Minister Naoto Kan called the yen's rise 'rough,' even
though he stopped short of indicating any action would be taken to
weaken the Japanese currency.

CHINA'S YEN-ASSET BUYS HURTING JAPAN EXPORTERS
Japanese exporters continue to fall on fear that the yen may rise
further, particularly as China looks likely to continue it purchases
of Japanese assets, given their relative safety.

GLOBAL PLAN NEEDED TO STOP FAILING BIG BANK: PANEL
The financial crisis has revealed the need for an international plan
to handle the collapse of a giant financial institution so that its
failure doesn't cause collateral damage to the global markets, a
congressional watchdog group says.

International Headlines

Date: Thu, 12 Aug 2010 05:01:09 -0400
>TOP STORIES as of 0900 GMT -- 12 August, 2010

> STORM STALLS WORK ON GULF WELL
Remnants of what was Tropical Depression Five will likely reach
the northern Gulf Coast Thursday and will stall the crucial work
of permanently sealing BP's ruptured oil well.

> PAKISTANIS BEGIN RAMADAN AMID FLOODS
Pakistanis start the Muslim holy month of Ramadan surrounded by
floodwater that has devastated the country and inspired U.N.
calls for millions of dollars in aid.

> DEATH TOLL TOPS 1,100 IN CHINA MUDSLIDES
A 50-year-old man was saved Wednesday after three days trapped
in mudslides in northwest China, state media reported.

> CONDEMNED IRANIAN DENOUNCES LAWYER
A woman sentenced to death in Iran for adultery says she knew
about a plot to kill her husband but thought it a was joke. Her
lawyer says the remarks were coerced.

> STOCKS HIT AS GLOBAL MARKETS SHUN RISK
Global equity markets fell sharply on Wednesday and investors
sought the safety of government bonds as a deteriorating outlook
for economic growth, led by the US, fanned an aversion for
holding risky assets.

> ZIMBABWE 'HUMANE' DIAMONDS ON SALE
Zimbabwe launched its first multi-million dollar diamond sale
this week since obtaining certification last month that the
nation's precious stones are harvested humanely and are not
"blood diamonds."

> BOLIVIA: PROTESTERS' CLAIMS OFF BASE
The Bolivian government on Wednesday defended itself from
accusations that it has not invested enough in a southwestern
province that has found itself under siege by protesters for two
weeks.

> JURY: 14 YEARS FOR BIN LADEN'S DRIVER
A military jury at the U.S. facility in Guantanamo Bay
recommends a 14-year prison term for a Sudanese man who served
as cook and driver for Osama bin Laden.

~~~~~~~~~~~
BUSINESS
~~~~~~~~~~~

> NEW GENERATION OF ENTREPRENEURS
Life has its share of both stormy and sunny moments. There are
clouds (your car broke down) and then there are silver linings
(but at least it's a nice day for a walk).

> BLACKBERRY FACING WOES IN INDIA
Indian businessman Paramjit Saluja battles two money-munching
time wasters in his auto exports business: New Delhi's trademark
traffic jams and the myriad time zones of his clients.

> TOYOTA STOPS CAR EXPORTS TO IRAN
Toyota Motors said Wednesday it's halting shipments to Iran
following international moves to put financial and commercial
pressure on Tehran to curb its nuclear ambitions.

Breaking News

Date: Thu, 12 Aug 2010 08:24:04 -0400

A 6.9-magnitude quake strikes Ecuador, southeast of Quito, according
to U.S. Geological Survey.

Initial unemployment claims rise to 484,000 in latest week, highest total in more than 5 months, government says.

Date: Thu, 12 Aug 2010 08:33:08 -0400

Initial unemployment claims rise to 484,000 in latest week, highest
total in more than 5 months, government says.

Stocks fall at the open after a report showed a surge in jobless claims. Dow sinks 100 points, Nasdaq slides 1.9%, S&P 500 off 1%.

Date: Thu, 12 Aug 2010 09:33:04 -0400

Stocks fall at the open after a report showed a surge in jobless
claims. Dow sinks 100 points, Nasdaq slides 1.9%, S&P 500 off 1%.

Markets, Wednesday, 08/11/2010

Date: Wed, 11 Aug 2010 17:31:05 -0400

|---------------------------------------------------------------------------|
| Dow : 10,378.83 down 265.42 | S & P : 1,089.47 down 31.59 |
| NASDAQ: 2,208.63 down 68.54. | Bond (10Y): 2.68% down 0.096
|---------------------------------------------------------------------------|

MARKETS:
The Fed ate my savings!
Conservative investors who rely on Treasurys and CDs for steady income
are punished by the Fed's low rates and bond buying. That's why
dividend-paying stocks are gaining fans.

U.S. stocks slide on economic-recovery fears

Date: Wed, 11 Aug 2010 12:00:55 -0400

U.S. stocks slide on economic-recovery fears
U.S. stocks tumble sharply, echoing a retreat by equities around the
globe, as the Federal Reserve's stimulus plan intensifies worries
about the economic recovery.

DOLLAR, YEN JUMP AS GROWTH FEARS RATTLE MARKETS
The Japanese yen hits a new 15-year high versus the U.S. dollar.

TREASURYS GAIN AHEAD OF 10-YEAR AUCTION
Yields on 2-year Treasury notes get pushed to an all-time low,
underscoring investors' appetite for U.S. debt in the face of a more
dour economic outlook by the Federal Reserve. Data showing a wide U.S.
trade deficit reinforce the attractiveness of Treasurys as well. Bond
traders look to the impending $24 billion auction of 10-year notes.

ETFS THAT SHORT TREASURYS SUFFER BIG LOSSES
Betting against Treasury bonds was supposed to be the no-brainer
strategy for 2010. Instead, shorting government debt has brought steep
losses so far this year, due to surging bond prices as investors seek
safety on worries stocks could be hit by deflationary headwinds.

GOLD PRICES EDGE ABOVE $1,200 AN OUNCE
Gold prices rise as the U.S. trade deficit widens to a record 21-month
high in June, rekindling fears that the economic recovery is
faltering.

International Headlines

Date: Aug 11, 2010 5:02 AM
>TOP STORIES as of 0900 GMT -- 11 August, 2010

> RWANDANS AWAIT FINAL RESULTS WITH INCUMBENT FAVORED
Final results in Rwanda's second presidential election since the
1994 genocide are expected, with Paul Kagame favored to return
to power.

> MILITARY CHIEF TO FACE FLOTILLA INQUIRY
The head of Israel's military is expected to testify Wednesday
on the third day of the nation's inquiry into the mid-sea
interception of a humanitarian aid flotilla that left nine
people dead.

> VENEZUELA, COLOMBIA RENEW TIES
President Hugo Chavez and President Juan Manuel Santos have
re-established diplomatic relations between their countries
after meeting in Santa Marta, Colombia.

> POWERFUL EARTHQUAKE RATTLES VANUATU
A strong earthquake struck the island nation of Vanuatu on
Wednesday, the U. S. Geological Survey said.

> SUICIDE BOMBERS HIT KABUL GUEST HOUSE
Two suicide bombers attacked a guesthouse in central Kabul
Tuesday, killing three people, said Afghanistan's Interior
Ministry.

> GROUPS WORRY OVER WIKILEAKS POSTINGS
Several humanitarian organizations have reached out to WikiLeaks
to warn that the leaked documents it posts on its site could
endanger the lives of civilians whose names appear in them,
according to an e-mail exchange that apparently was leaked.

> HEATWAVE HITS RUSSIAN GROWTH FORECAST
Russia has begun counting the economic toll of the worst
heatwave since records began as economists warned that the
wildfires and disastrous summer harvest could wipe as much as 1
per cent off the country's economic growth.

> U.S. SENATOR AMONG PLANE CRASH VICTIMS
Ex-Sen. Ted Stevens' family won't confirm reports he was on a
plane that crashed in Alaska. A colleague says Ex-NASA chief
Sean O'Keefe was on the plane.

~~~~~~~~~~~
BUSINESS
~~~~~~~~~~~

> NO EVIDENCE OF TOYOTA THROTTLE FAULTS
A preliminary US government investigation has found no evidence
of defects in Toyota's electronic throttle control systems,
pointing instead to driver error as the main cause of accidents
blamed on unintended acceleration.

> CHINA BANKS TOLD TO ACCOUNT FOR LOANS
Chinese banks have been ordered to account for around Rmb2,300bn
($340bn) in off-balance sheet loans in a move that could put
some lenders under serious stress and require another large
round of capital-raising.

> FEDERAL RESERVE: RECOVERY LOSING STEAM
The U.S. economic recovery is weakening, the Federal Reserve
warned at the conclusion of its meeting Tuesday, its most
bearish outlook in more than a year

Stocks plunge as investors fret about the faltering global economic recovery. Dow drops 108 points, Nasdaq tumbles 1.8%.

Date: Wed, 11 Aug 2010 09:32:04 -0400

Stocks plunge as investors fret about the faltering global economic
recovery. Dow drops 108 points, Nasdaq tumbles 1.8%.

Markets, Tuesday, 08/10/2010

Date: Tue, 10 Aug 2010 17:31:07 -0400

|---------------------------------------------------------------------------|
| Dow : 10,644.25 down 54.50 | S & P : 1,121.06 down 6.73 |
| NASDAQ: 2,277.17 down 28.52 | Bond (10Y): 2.78% down 0.041
|---------------------------------------------------------------------------|

MARKETS:
Stocks recoup losses after Fed
Stocks pare losses after the Fed says recovery is weakening. Central
bank will not shrink its balance sheet to help keep the economy on
solid ground.