John Burke News
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Billionaire investor Daniel Loeb’s proposal to separate Sony Corp.’s movie, music and TV businesses would give the Tokyo-based company a chance to join the 3 1/2- year media rally it has missed.
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Presidents who enjoy successful second terms usually pull fresh thinking into their inner circles and maintain close working relations with Congress. Barack Obama has shown little inclination to do either.
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The U.S. telephone network the Bell System built and ran for almost a century is dying, replaced by technology that propels Internet messages. Rules underpinning that old order should expire with it, AT&T Inc. says.
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Traders in Irish government bonds may have to post bigger deposits, known as margins, when executing transactions through LCH.Clearnet Ltd. after the value of the securities plunged.
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ATP, Denmark’s biggest pension fund, said it renegotiated contracts to avoid having to accept top- rated French sovereign bonds as collateral for funding.
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U.S. stocks rallied, sending benchmark indexes to six-month highs, as investors awaited the Federal Reserve’s plans to boost the economy and election results that may divide Congress. The dollar weakened and Treasuries rose.
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LCH Clearnet Ltd. demanded clients place a larger deposit to trade Irish bonds for the third time this month after the yield premium on the nation’s debt soared.
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LCH Clearnet Ltd. doubled the extra margin requirement it charges for Irish bond trading to 30 percent of net positions as European finance ministers discussed aid to the indebted nation.
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U.S. stocks sank as a surge in Italian bond yields intensified the credit crisis and concern grew that European leaders may be unable to keep the euro zone intact. The euro slid to a one-month low and Treasuries rallied.
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South African regulators said they won’t intervene in ArcelorMittal South Africa Ltd.’s planned sale of a 9.1 billion rand ($1.3 billion) stake to a group of black investors that includes one of President Jacob Zuma’s sons, amid growing opposition from minority investors and political parties.
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