Good morning. Here’s what you need to know:
- Asian markets were all higher in overnight trading, with the Nikkei up a notable 1.55%. European indices are lower in morning trading and U.S. futures suggest a higher open. See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market >
- Crude oil futures are spiking this morning, up over 2% and the U.S. dollar is rising significantly against the Swiss franc, up nearly 1%. Follow up to the minute markets coverage at Money Game >
- China’s trade surplus shrank significantly in August, down over $8 billion from the July number to $20.03 billion. The result will likely not deter critics of China’s yuan policy, who would like to see the currency appreciate further, which would hamper Chinese exports. Check out the 10 Chinese brands set to take over the world by 2020 >
- Protests overnight in Afghanistan targeted a NATO base in the country in response to the plans of a U.S. pastor to burn Korans. One protester was shot and the estimated crowd size was 10,000.
- Iran may be developing a secret uranium enrichment facility for the purpose of speeding up its nuclear weapon development program. The dissidents who have suggested the secret facility is for nuclear purposes have been disputed by U.S. government officials. Here are the military threats the Air Force is really worried about >
- Deutsche Bank is set to make a new equity offering early next week that would raise $10.2 to $11.4 billion for the bank. The move comes ahead of new rules on capital ratios set to impact the bank and others across the industry.
- Current projections from the OECD have the UK leading G7 growth for Q3 2010 with 0.7% GDP growth. Full year growth for the UK is expected to amount to 1.3%.
- Nokia has ditched its current CEO Olli-Pekka Kallasvuo and hired the head of Microsoft’s business unit Stephen Elop to lead the company. The move is made in the context of declining strength for the mobile phone manufacturer against Apple and others.
- President Obama looks set to pick economic advisor Austan Goolsbee as the new chairman of his Council of Economic Advisors to replace the departing Christina Romer. Goolsbee has previously commented that he didn’t believe tax breaks like the Obama administration is pursuing would work to stimulate the economy.
- A new survey released by Strategy One indicates 7 in 10 Americans expect a double-dip recession and more than half think the country’s best days are in the past. Here are 13 reasons why we’re in a depression right now >
- Bonus: Angelina Jolie has claimed to not have many friends in a CNN interview discussing her work as a UN goodwill ambassador.
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