Good morning. Here’s what you need to know:
- Asian markets were mixed in overnight trading with the Shanghai Composite up 0.38%. European markets are all trading higher this morning, and futures suggest a higher open in the U.S. 10 Unusual Stocks Attracting Huge Interest In The Pre-Market >
- The U.S. government has lashed out against the military expansion of China noting their now significant presence in the East Asian theatre. U.S. officials are concerned about the pace of the expansion, and the implications for the balance of power with Taiwan. Don’t miss: The threats the U.S. Air Force is focused on >
- China has been revising its growth rate for the years 2005-2008 and, with results as high as they are, it indicated a potential slowdown in the next two years. This scenario would mimic the country’s experience in 1985. Don’t miss: 10 Chinese brands set to take over the U.S. by 2020 >
- A suicide bombing in Iraq has killed 60 and injured many more in the largest attack in the country in months. The bombing targeted a recruitment facility for the Iraqi army.
- Germany looks set for a dip in economic performance, according to the latest results of the Zew indicator. This indicator is now suggesting that Germany will not follow up positively on the country’s massive Q2 growth. Click here to see why Europe will see crisis after crisis after crisis >
- Inflation has fallen 0.1% in the UK month to month but it still remains above the country’s target rate. UK inflation is at 3.1% and has been above 3% for all of 2010.
- BHP Billiton has has a bid for Potash rejected on the grounds that it undervalued the company. The bid, of $38.5 billion, is only a 16% increase on the company’s current valuation. Here’s why the world’s top miner is willing to make a bet on food >
- Santander has returned to talks with M&T Bank of Buffalo, New York about combining the two companies’ U.S. businesses. The two banks, which considered a merger of their U.S. divisions earlier this year, have already involved regulators in their negotiations.
- The U.S. government is set to increase restrictions of deepwater drilling by not allowing the waiver of review of such activities. The Bureau of Ocean Energy Management will now only allow projects with limited environmental risk to be granted waivers from the review process.
- Home Depot scored above estimates for Q2 profit, but disappointed in terms of sales. The company has increased its profit assumptions for 2010, but reduced its sales expectations.
- Bonus: Jenny McCarthy is very positive after her breakup with Jim Carrey noting, on single life, “I’m enjoying it tremendously!”
- Follow the markets all day at The Money Game >
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