Roundup: S&P -0.06%, Dow +0.07%, Nasdaq -0.29%, Gold $1192.20, London +1.43%, Germany +1.68%, France +1.64%. At pixel: Nikkei -0.45%, Hang Seng -1.10%
Quick, what is the minimum export price for chicken wings? Close to 50% of all the raw chicken breasts sampled by Consumer Reports in the U.S. tested positive for “superbug” bacteria. (Reuters)
But if you are more of a breast person, then maybe we can arrange a swap with McDonald’s? McDonald’s has 10M pounds of unsold chicken wings after misfiring on a promotion. (WSJ)
Government approves Rs6,600cr interest-free loan to sugar mills. Mills have to repay the loans in five years and can avail of a moratorium on repayment for the first two years. (FP)
India’s bad banker problem: all too often, loans go to borrowers not because they are creditworthy or because they have good projects but because they are connected or corrupt. Add sloppy bank practices into the mix and we have a disaster on our hands. For example, in Kingfisher Airlines’ case, foreign banks that had careful documentation were able to seize assets (including Kingfisher planes parked at London’s Heathrow airport). But some Indian banks were less careful and found themselves with little recourse. (FT) [stockquote]KFA[/stockquote]
There’s a strong case that the money which has flowed into developed markets this year will start to switch into emerging markets in the short-term. (AC)
Should investors avoid investing in commodities purely for the sake of diversification? No. Research suggests these justifications for long-term bets on commodities are illusory. (FT)
Good luck and have a nice weekend!