10 Things You Need To Know Before The Opening Bell

paris hilton smile

Photo: AP

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

  • Asian markets are mostly down in overnight trading, with the Shanghai Composite a notable exception, up 2.11%. European markets are mostly up in early trading, and U.S. futures suggest a higher open. Don’t miss: Here’s why the Fed’s economic forecasts are wrong >
  • BP claims to have closed the leak in the Gulf of Mexico, but other testing is suggesting a second leak has now formed. The second leak is potentially of both methane gas and oil. Check out these beaches the oil spill may ruin forever >
  • BP’s attempt to sell its position in the Prudhoe Bay project in Alaska to Apache has hit several bumps over the weekend and is now in doubt. The deal, if completed, could be worth between $10 and $11 billion for BP. 
  • The IMF is looking to increase the amount of money it has to spend for crisis prevention and resolution to $1 trillion from $750 billion in the next several months. The fund could then act ahead of crisis, and would also be coupled with the IMF rating the sovereign health of countries. Here’s what you need to know about why the eurozone has fallen apart >
  • A massive train crash in India this morning killed 56 people and injured over 100 others. The crash is being investigated for elements of sabotage and could be linked to Maoist rebels. 
  • Moody’s downgraded Irish sovereign debt this morning, though markets failed to react to the movement. The cut, from Aa1 to Aa2, is due to the country’s poor growth outlook. Here’s what the Irish cuts would look like in the U.S. >
  • Hungary has come under further pressure this morning after government talks with the IMF and EU broke down over the weekend due to a lack of political will to enact more austerity measures. Hungary has an election October 3. Here are the countries and banks most exposed to the emerging crisis in Hungary >
  • Motorola is set to sell its wireless-networking division to Nokia for $1.2 billion in a deal that will see the company leave the business. Motorola is attempting to split its company in two halves, one for wireless equipment the other, television set top boxes.
  • Boeing has just locked up a deal that could be worth $9 billion with Emirates Airlines. The deal is for the purchase of 30 777 planes. 
  • TPG and the Carlyle Group have beaten KKR to a deal for Healthscope worth $1.7 billion. Healthscope is an Australian hospital company that ranks as the country’s second largest. 
  • Bonus: While in Corsica, Paris Hilton was detained for a short period of time for the possession of marijuana. Hilton has denied the reports.
  • Follow up to the minute markets coverage at Money Game >

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.