Good morning. Here’s what you need to know:
- Most Asian markets were up overnight, with the Shanghai Composite the notable exception, falling flat. European indices are up slightly in early trading. U.S. market futures are flat.
- South Korea is in the process of persuading China to not stop action by the UN Security Council in response to North Korea’s attack. China is unwilling to publicly blame the north for the attack, as it looks to maintain stability on the Korean Peninsula.
- Goldman Sachs is trying to settle its current SEC case related to the ABACUS deal without admitting to fraud and for millions, rather than billions, in settlement charges. The firm may now also be potentially dealing with criminal charges related to its Timberwolf deal. Check out the winners and losers from the Goldman Sachs fraud fallout >
- President Obama is headed to the Gulf of Mexico today to survey the progress of BP’s “Top Kill” operation and its clean up efforts. BP is continuing the “Top Kill” operation today by pouring more mud into the leak, as it has yet to move to the cement stage. Check out the 15 funniest tweets from the fake BP PR account >
- Shell has made a big bet on the future of shale gas today buy buying Pennsylvania based assets worth $4.7 billion. The purchase was made from East Resources, and is the second for Shell in recent days.
- Ford is eliminating the Mercury brand from its portfolio due to disappointing sales. The move will end a motor vehicle brand that has been in existence since 1939.
- Apple launched its iPad today outside of the United States, and stores in Australia and Japan have already seen high demand for the product. Long lines formed around many stores, including the central London location.
- The UK’s Prudential is looking to renegotiate its deal for the Asian arm of AIG, AIA, in a effort to reduce the price of purchase. Prudential would prefer to pay closer to $30 billion, rather than the original $35.5 billion, in an effort to push the deal through its indecisive board.
- Strikes are expected in France today in opposition to the government’s measure to raise the retirement age above 60. This comes as the French minister for Europe questions whether the eurozone bailout package changes EU treaties.
- An attack in India has killed dozens of people as a train was sabotaged and hit another. The Indian government is currently blaming Maoist rebels.
- Bonus: Singer-songwriter Alicia Keys is pregnant with her first child with husband Swizz Beatz.
- Follow the markets all day with up to the minute coverage at The Money Game >
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