TOP STORIES
STOCKS TUMBLE ON WEAK CHINESE DATA
U.S. stocks tumbled at the open Tuesday after weak manufacturing
data in China fueled global investors' worries about the world's
second-largest economy.
U.S. AUTO SALES MAINTAIN PACE DESPITE CALENDAR QUIRK
Auto makers Fiat Chrysler and Ford beat a quirk in the calendar
by posting year-over-year August sales increases, underscoring the
continuing strength of the car consumer. GM sales were slightly
lower but beat expectations.
LAGARDE SAYS VOLATILITY PUTS ASIA'S GROWTH AT RISK
Speaking in Indonesia, the IMF's managing director said the pace
of growth in Asia was slower than expected.
EUROZONE JOBLESS RATE FALLS
The eurozone's jobless rate fell to its lowest since early 2012
during July, driven by big falls in the number of people without
work in Italy and Spain.
PENSION FUNDS OPPOSE COMBINED BOFA CHAIRMAN, CEO ROLES
Two major public pension funds joined the drive for Bank of
America Corp. shareholders to oppose a corporate bylaw change that
lets Brian Moynihan serve as both chief executive and chairman.
DOLLAR TREE SWINGS TO A LOSS
Dollar Tree swung to a loss in its latest quarter, though sales
jumped, as the discount retailer integrates its recently-acquired
rival.
LVMH APPOINTS KEY APPLE EXECUTIVE
LVMH Moë t Hennessy Louis Vuitton has recruited Ian Rogers, a
key executive from Apple, to spearhead the expansion of the luxury
goods giant's online retailing presence.
GREEK POLLS SUGGEST TOUGH ELECTION TEST FOR TSIPRAS
Opinion polls show support for Greece's left-wing Syriza party
and its leader, Alexis Tsipras, crumbling. But Syriza retains a
lead over its opponents and the Sept. 20 election could be
tight.
PORTUGUESE CENTRAL BANK ENDS TALKS WITH ANBANG OVER NOVO BANCO SALE
Portugal's central bank will now enter talks with another bidder
for the Portuguese bank created out of failed lender Banco Espí
rito Santo last year.
MARISSA MAYER EXPECTING TWINS
Yahoo Chief Executive Marissa Mayer is expecting twin girls and
expects to take "limited time away," the CEO announced via a blog
posting.
CANADA'S SECOND-QUARTER GDP DECLINES
Canada's economic output fell in the second quarter on a sharp
drop in business investment and inventory accumulation.
ETSY FACES PRESSURE TO ABANDON IRISH TAX STRATEGY
Americans for Tax Fairness, a progressive advocacy group, is
pressing Etsy, the online crafts marketplace, to abandon a strategy
that uses an Irish subsidiary to minimize taxes it owes to Uncle
Sam.
CHINESE COMPANY SET TO BUY 10 ULTRALARGE SHIPS FOR $1.5 BILLION
Order expected to exacerbate an estimated 30% excess capacity in
shipping route between Asia and Europe.
CHINA SETS NEW RULES ON YUAN FORWARD TRADING
Banks buying and selling yuan currency forwards for clients will
have to deposit 20% of sales at China's central bank, to prevent
"macro financial risks."
CHINA'S BOND-RATING FIRMS DOLE OUT DOWNGRADES
China's bond-ratings firms downgraded a record number of
companies as the stock market tumbled earlier this summer, though
trading in the bonds dried up right after the downgrades, limiting
their price declines.
JAPAN CAPITAL INVESTMENT FALLS 2.7%
Japanese capital investment fell 2.7% from the previous quarter
in the three months through June.
HUNGARY CLEARS MIGRANTS FROM TRAIN STATION
Authorities on Tuesday cleared hundreds of people from the
country's main international railway station, prompting noisy
protests by migrants who have crowded the building in a push to get
to Austria and Germany.
NASDAQ TO SELL SURVEILLANCE TECHNOLOGY TO CHINA
Nasdaq OMX Group will supply market-surveillance technology to a
Chinese securities exchange and some mainland financial firms, as
Beijing steps up scrutiny of its financial industry.
WTO PANEL RULES AGAINST INDIA'S SOLAR PROGRAM
A World Trade Organization panel has ruled that India's federal
solar program violates global trade rules by imposing
local-purchase requirements for solar cells and modules.
GAZPROM POSTS 29% NET PROFIT GROWTH
Russian state gas giant PAO Gazprom said net profit for the
second quarter was up 29% from the same period last year as a
higher ruble price made up for lower sale volumes in its
most-lucrative European market.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Foreign Exchange
LOWER YUAN KEEPS HONG KONG MONEY-CHANGERS BUSY
Fears that things will worsen in China are a boon for the Hong
Kong money-changers, bankers and wealth managers getting flooded
with business from nervous Chinese eager to get their cash
overseas.
Washwire Blog
CANDIDATES GET PUSHED FROM THE POLITICAL CENTER
One of the problems in the way America picks its president lies
in this disconnect: Most Americans live somewhere in the political
center, but presidential campaigns tend to push candidates away
from the center.
(END) Dow Jones Newswires
September 01, 2015 10:02 ET (14:02 GMT)
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