Good morning! This is the major news from the weekend and Monday so far, making waves in markets this morning already.
German Factory Orders Are Collapsing.
German factory orders fell 5.7% between July and August, worse than the 2.5% decline expected by economists, and adding to the eurozone’s grim outlook.
Brazil’s President Won The First Round Of The Country’s Election. Leftist President Dilma Rousseff placed first in Sunday’s election but did not get enough votes to avoid a runoff and will face pro-business rival Aecio Neves.
Samsung Is Investing $US14.7 Billion In A Chip Facility. The company wants to build a new semiconductor production facility in South Korea.
European Markets Are Up. France’s CAC 40 is up 0.30%, the UK’s FTSE 100 is up 0.35%, and Germany’s DAX is leading, up 1.07%. Both the Hang Seng and Nikkei in Asia closed up 1.09% and 1.16% respectively.
The World Bank Has Cut China’s Growth Forecast. It now expects tha massive emerging economy to grow by less than the 7.5% rate targeted by the government.
Protests Might Be Fracturing in Hong Kong. There is confusion among the city’s pro-democracy protestors as to whether they have agreed to restore access to particular roads. Much of Hong Kong is inaccessible by road because of the protests.
Euro Disney Is Raising Over $US1.2 Billion In Funding. Euro Disney will sell about €420 million of new shares, and about €600 million of the company’s debt owned by parent firm Walt Disney will be converted into equity.
Japan’s Economy Minister Is Concerned About The Recovery. Japanese Economy Minister Akira Amari expressed concern on Sunday about the strength of the economic recovery.
Hewlett-Packard Is Set To Split. The company plans to break in two, separating its computer and printer businesses from its corporate hardware and services operations, the Wall Street Journal reported on Sunday.
The Bank Of Japan Will Make A Rates Decision Tonight. Japan’s monetary policymakers will make a decision on rates and other policy, to be announced at 11 p.m. ET. Most analysts are not expecting a change.