Good morning! Here’s what you need to know:
The SEC IS Probing PIMCO. The Securities and Exchange Commission is investigating the investment firm PIMCO for artificially boosting returns, The Wall Street Journal reports.
Air France’s Pilot Strike Is Causing Chaos. France’s transport minister said Wednesday morning that the company’s plans to launch a low-cost airline had been abandoned, but the airline is now arguing that is not true.
The US And Arab Allies Have Bombed ISIS On The Iraq-Syria Border. The bombing missions carried out included help from Saudi Arabia.
Starbucks Wants To Be Big In Japan. The firm is taking full ownership of its Japanese arm, spending $US900 million on the 60.5% of the business that it does not already own.
Japan’s Manufacturing Output Hit A 6-Month High. Figures out overnight indicate that industrial production is stabilizing after a sharp slump in demand following a sales tax increase in April.
European Markets Are Mixed. France’s CAC 40 is up 0.31%, with Air France shares rising despite the company’s confusion. Germany’s DAX is down 0.09%, and the UK FTSE 100 is down 0.19%. In Asia, the Hang Seng closed up 0.35%, and the Nikkei closed down 0.24%.
New Home Sales Will Be Out Later. The August data on the housing market is set for release at 10 a.m. ET.
The World Bank Is Sour On Russia. The international institution thinks Russia will stagnate, with just 0.5% growth this year and massive capital outflows as investors flood out of the country.
BNP Paribas’ Chairman May Step Down. Reuters sources believe that the chairman of BNP Paribas will step down this week after a massive $US8.9 billion fine by US authorities earlier this year.
RBS Has Priced Citizens Financial’s IPO. The bailed-out British bank priced Citizens shares at $US21.50, below the previous expected range.
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