FMX | Connect – www.fmxconnect.com - (Reported 7/2/2010)
- Aussie PM Gillard scales back Australian mining tax in boost for election prospects.
- Crude oil fell below $73 a barrel, after slipping 6.8 percent in the previous four days.
- Employment fell in June for the first time this year.
- Gartner cuts 2010 global IT spending view cut on Euro woes.
- Germany, France to press Brussels on transaction tax.
- Greece sealed a deal with the European Investment Bank for €2B in financing.
- Most Asian stocks rose, led by commodity producers, after Australia reached a tax deal with mining companies.
- AIG is reconsidering a sale of 2 Japanese life-insurance companies for roughly $5B.
- AK Steel announces $385 per ton as surcharges for electrical and stainless steels.
- Aluminum Corp. of China shelved plans to invest $2.52B in a bauxite project in Australia.
- Bank of China Ltd. plans to raise as much as $8.9B in a rights offer to replenish capital.
- Blockbuster continues to explore various recapitalization opportunities.
- Boeing bags order from Air China, for 20 Next-Generation 737-800 jetliners.
- CIT Group repays nearly half of first-lien debt, sells assets.
- Constellation Brands' Q1 profit soars to $49.1M on charges; FY 2010 EPS view raised.
- Disney acquires Tapulous, a developer of music games for iPad, iPhone, and iPod Touch.
- GM's May sales of cars and light trucks rose 11%, while Ford reported a 13% increase.
- GM first-half sales in China surpassed those in the U.S. for the first time.
- Google thrust itself into the online travel industry, to acquire ITA Software for $700M.
- HSBC to buy the Indian retail and commercial banking businesses of RBS.
- Mercedes, BMW sales rise in May as luxury automakers target middle-class shoppers.
- Sanofi-Aventis is preparing a major acquisition in the U.S.
- Toshiba working with Mitsubishi Motors to develop lithium-ion batteries for possible use in the automaker’s electric cars.
- Toyota will recall some 270,000 Lexus luxury-car models in Japan.
- U.K. power firm Chloride Group to accept Emerson Electric's $1.5B offer.
- US Treasury sold a 2nd tranche of Citigroup stock, reducing its stake to about 18%.
- U.S. Trims Citi Stake to 18%.
Source: ZeroHedge
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