FURTHER FURTHER READING
- North American energy scene keeps getting more interesting.
- The aging of America, animated.
- Lame duck laureates: economics awards and staying power.
- Scott Sumner on good pragmatism, bad pragmatism.
- Jackson Hole agenda leaked.
- Penny-stock fraud operators mastered the art of cross-selling.
- Why you need to worry about the IPO boom.
ROUND-UP
FT markets round-up: "Global investors welcomed positive economic data from the US and Europe but the optimism was blighted by news that a large merger between two leading US airlines faced a significant legal roadblock. Stocks on the S&P 500 dipped after the US Department of Justice filed an antitrust suit to block a $10bn merger between AMR Corp, the parent company of American Airlines, and US Airways Group. US Treasuries were also being sold as investors priced in stronger growth. Yields on the 10-year benchmark government bond climbed 9 basis points to 2.71 per cent, heading towards the top of the 2.50-2.75, only a few basis points shy of fresh two-year highs." (Financial Times)
DoJ sues to block US Airways-AMR merger: "Plans to create the world's largest airline by sales hit severe problems on Tuesday after the US's justice department sued to block the $11bn merger of US Airways and American Airlines' bankrupt parent. If the two airlines fail to overturn the Department of Justice's suit, they will be forced to unpick a merger they had been planning for more than a year, which the two sides had expected to complete before the end of September." (Financial Times)
Icahn takes a bite of Apple: "Carl Icahn, the veteran activist investor, has taken a "large position" in Apple and is pushing for a further return of cash to shareholders. Mr Icahn's postings on Twitter announcing his stake and his discussions with Apple's chief executive on Tuesday immediately sent Apple's stock higher, up 4.5 per cent at $488.78 by mid-afternoon trading in New York." (Financial Times)
'London whale' traders 'not evading' authorities: "Lawyers for two former JPMorgan Chase employees facing possible criminal charges tied to the $6bn "London whale" trading loss said on Tuesday their European-based clients are not in hiding or seeking to evade authorities. US prosecutors are expected to ask a Manhattan grand jury consider indictments of Javier Martin-Artajo and Julien Grout within the next few days." (Financial Times)
