Overseas: Dow -0.11% to 13542. S&P -0.22%. Nasdaq -1.01%. London +0.10%. Germany +0.58%. France +0.22%.
Indian Hotels is looking to acquire the rest of Orient-Express Hotels (MW) [stockquote]INDHOTEL[/stockquote]
Walmart is being investigated over accusations that it secretly invested over $100mm in an Indian chain of 220 convenience stores and hypermarkets as early as 2010 and thereby flouted a ban on foreign direct investment in the sector. (FT)
A plan to create a single euro zone banking supervisor is illegal, according to a secret legal opinion for EU finance ministers that deals a further blow to a reform deemed vital to solving the Eurozone crisis. (CNBC) This comes against the backdrop of bad loans at Spanish banks rising to a record high in August, driven by an increasing number of recession-hit Spaniards faced defaulting on their debt payments. (Reuters) and over 50% of Greece’s workers striking against austerity measures. (CNBC)
But don’t worry, brothels are seeing brisk business and are even bailing out local football teams. (NYT)
The price of gold has been all over the place in the past twelve months. But HSBC predicts that it will hit $1900 by the end of this year. (FT)
Consumers of investment information are getting short shrift: Producers of the big news shows are looking for the dramatic; journalists have lost the ability to ask the important questions; media sources have been unduly influenced by email and tweets. (oldprof)
Have a nice weekend!