10 Things You Need To Know This Morning

kim kardashian

Photo: AP

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

  • Asian indices were mixed in overnight trading with the Nikkei up 1.48%. Major European indices are mixed and U.S. markets have opened down.
  • Tiffany & Co. reported a 26% jump in Q1 net earnings to $81.1 million, or $0.63 per diluted share. Global net sales increased 20% to $761 million. The company has now increase its earnings outlook for 2011.
  • Apollo Global Management LLC and Broadway Partners are reported to have made a $1.68 billion offer for Charter Hall Office REIT’s U.S. real estate holdings. The 14 U.S. properties include office buildings in Los Angeles and Denver. Don’t miss: The 20 cities that are having an awesome recovery >
  • At the Ira Sohn conference yesterday, Pershing Square hedge fund manager Bill Ackman revealed that he is bullish on Family Dollar. David Einhorn president of Greenlight Capital Inc. said Microsoft needs to replace Steve Ballmer. He is however bullish on Microsoft. Check out what the richest people’s charity donations say about them >
  • Revised Q1 GDP of 1.8% missed expectations >
  • Online Chinese retailer Vancl hopes to raise between $750 million – $1 billion in its IPO in the U.S. this year. The company has picked Citigroup, Goldman Sachs, Credit Suisse, Morgan Stanley and China International Capital Corp for its Q4 offering.
  • Royal Dutch Shell is said to be in talks with top Russian energy official Igor Sechin to explore for oil and gas in the Arctic and Black Sea. This comes after BP’s talks with Rosneft fell through. Meanwhile, Shell is offering a stake in its Elly and Luke fields off Denmark to cut costs. Now here’s an incredible hand-drawn guide to the peak oil crisis >
  • China may be interested in buying European sovereign bonds and investing more in the Eurozone. But talk of a China rescue has been dismissed because debt ridden countries need money, not bond buyers.
  • Initial jobless claims of 424K came in much higher than expectations >
  • G8 leaders are meeting in France today to decide funding for new Arab democracies. The meeting is also expected to focus on talks about a new IMF chief after former chief Dominique Strauss Kahn’s resignation. Now here’s the fabulous life of Dominique Strauss Kahn before he was arrested >
  • BONUS: Kim Kardashian is engaged to boyfriend Kris Humphries, who shelled out $2 million for the engagement ring.

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