FMX | Connect – www.fmxconnect.com - (Reported 6/21/2010)
- China kept Yuan's exchange rate unchanged against the dollar, after saying it was unhitching its de facto peg.
- Crude-oil futures inched closer to the $80/bbl in late Monday morning trading in Asia.
- Stocks, commodities, US futures rally as China gets Yuan off the USD peg.
- US corporate defaults have fallen to an annualized rate of barely 1% in 2010; future uncertain.
- Yuan climbs most in 18 months as China signals end to peg; Forwards jump.
- Acer sees Q3 revenue rising 10-15% from Q2 levels of $5.22B.
- BASF poised to buy German specialty chemicals company Cognis for at least $4.1B.
- BHP Billiton signs West Australia royalty deal; to pay 5.625-5.0% on sales instead of 3.0%.
- BP said that total cost to date of the response to the GOM oil spill has reached $2B.
- Broadcom buys UK firm Innovision for GBP32M.
- Corn Products Intl to acquire National Starch from Akzo Nobel for $1.3B.
- Covanta board approve a special dividend, fivefold expansion to its authorization to buy back common stock.
- Danone merges its fresh dairy product businesses in Russia with a local company Unimilk.
- France may raise retirement age from 60 to 62 in 2018.
- Enel SpA seeks approval to list its Green Power renewable energy unit in Milan.
- France Télécom planning to bid as much as €60M for Le Monde and its website.
- Genzyme announces $1B in accelerated share repurchase program.
- JP Morgan in talks to buy Brazilian asset mgmt company Gavea (AUM of around $5.3B).
- Norsk Hydro to issue 381M new shares at 26.30 kroner to raise $1.59B.
- Porsche said it expects a smaller loss in fiscal 2010 than previously anticipated.
- Qatar reportedly to invest up to $2.8B in AgBank IPO; Kuwait to kick in about $2B.
- RBS in advanced talks to sell its Indian business to HSBC Holdings.
- Telstra and the government strike $10B deal on broadband network for Australia.
- Valeant and Biovail to merge; Valeant holders to get special dividend of $16.77/sh.
Source: ZeroHedge
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