Good morning. Here’s what you need to know:
- Asian markets were mixed in overnight trading, with the Nikkei down 0.24%. European markets are mostly down or flat and U.S. futures suggest a lower open. Get ahead with 10 Unusual Stocks Attracting Huge Pre-Market Interest Right Now >
- Retail sales for August have come in way better than expected. Now there are 11 signs that the Double Dip is dead. Don’t miss full coverage at The Money Game >
- Japan’s current Prime Minister Naoto Kan has received backing from his own political party as he defeated an internal competitor in the race for leader. Kan ran on a set of policies including an end to currency interference and stimulus, which is impacting Japanese markets this morning.
- China has made a tiny yuan adjustment. The yuan has grown in value against the dollar by 20% since 2005. Here are 9 other stories you have to follow from now until 2011 >
- Turkey blew past growth expectations in Q2 2010, seeing its year-over-year GDP growth rise to 10.3%. The expectation was for an 8.5% gain. Here’s why Turkey is part of the CIVETS >
- European industrial production numbers disappointed this morning, with the region stagnating and output falling 0.2%. Meager gains of 0.1% were expected. Here’s why Europe is doomed to crisis after crisis >
- Citigroup has slipped dramatically from the top of the European banking heap, falling to eighth from first for merger advice in the region. The bank has also fallen from fifth to ninth in the same ranking in the U.S.
- German economic sentiment plunged in September to a negative 4.3. It was expected to be around a 10, and has averaged a 27.2 historically.
- Bank of America is in a search to sell non-core assets of the bank scouring its $2.3 trillion balance sheet. Non-core assets the bank is willing to divest from could be valued as high as $100 billion.
- Green Mountain Coffee is on the brink of securing a $1 billion deal for Canadian coffee company Van Houtte. Van Houtte is Canada’s biggest gourmet coffee distributor.
- Bonus: Jennifer Lopez’s on again, off again, deal to join American Idol is back on again. She is, reportedly, currently signing the contracts.