10 Things You Need To Know This Morning

North korea missile

Photo: Screenshot via CNN

Good morning. Here’s what you need to know.

  • Asian markets were lower in overnight trading with the Nikkei down 1.47 per cent, and U.S. stocks are sharply lower after Friday’s jobs data. European markets are closed.
  • The big story of the day continues to be Friday’s job report which saw U.S. companies add just 120,000 non-farm payrolls, missing expectations of 205,000. After being closed on Friday for Easter, U.S. stocks are taking a hit today.
  • Chinese CPI climbed a more than expected 0.2 per cent month-over-month in March, and 3.6 per cent year-over-year. Meanwhile, PPI fell 0.3 per cent from a year ago. Now here’s what the 21 hottest emerging markets will do in 2012 >
  • Japan reported a trade surplus of 1.18 trillion yen in February after posting a record deficit the previous month.
  • Sony is cutting 10,000 jobs or 6 per cent of its global workforce according to the Nikkei newspaper. This comes as Sony’s new CEO is trying to move the company towards profit, but Sony is expected to lose money for the fourth year in a row.
  • Microsoft will buy over 800 patents from AOL and licence another 300 for $1.1 billion.
  • Iran is expected to resume nuclear talks with the U.S. and allies on April 14. But Iranian foreign minister Ali Akbar Salehi has said that Iran will not agree to world powers imposing pre-conditions ahead of talks. Morgan Stanley – This is what global commodities will do this year and the next >
  • North Korea is reportedly planning a third nuclear test expected to coincide with the launch of a long-range rocket. North Korea has already moved a rocket to a launch-pad and is expected to put a satellite into orbit to celebrate the centenary of the birth of Kim Il-sung.
  • The Russian central bank left its interest rate unchanged, keeping its refinancing rate at 8 per cent. The central bank said medium term inflation risks are rising.
  • U.S. lawmakers are calling for an immediate implementation of the Volcker Rule after Bloomberg reported that JPMorgan trader Bruno Iksil, also known as ‘the London Whale’, has a massive CDS book.
  • Bonus – Anne Hathaway has got a close cropped look for her upcoming movie Les Miserables.

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