- IMF begging ECB for cash, ECB begging Germany for cash... all is well: Lagarde Says Europe Must Boost Firewall (WSJ)
- More rumors of inflation targeting: Bernanke near inflation target prize, but jobs a concern (Reuters)
- A Sears Wager Stings at Goldman (WSJ)
- Draghi Makes Euro Favorite for Most-Profitable Carry Trades With Rate Cuts (Bloomberg)
- Euro zone finance ministers to rule on Greek debt talks (Reuters)
- "Reserve Currency" - Iran Said to Seek Yen Oil Payments From India Amid Sanctions (Bloomberg)
- Hackers-for-Hire Are Easy to Find (WSJ)
- Florida’s Republican Primary Pits Romney Money Against Gingrich Momentum (Bloomberg)
- YouTube hits 4 billion daily video views (Reuters)
- Carnival CEO Lies Low After Wreck (WSJ)
- Fed Forecasts Could Awaken Treasurys (WSJ)
WSJ
* Apache, one of the biggest US energy explorers, is buying Cordillera Energy Partners for $2.85 billion in a deal that underscores how new drilling techniques are remaking the US oil business.
* After 20 years together at the helm of Research In Motion , Jim Balsillie and Mike Lazaridis, the company's co-chief executives, turned over the top job late Sunday to a little-known insider as part of a board and management shuffle.
For months, investors have clamored for a significant strategic overhaul, fresh leadership or a sale of the company as the BlackBerry maker struggled to stay competitive with rivals Apple Inc and Google Inc amid operational blunders and a tumbling share price.
* Edward Lampert and shareholders of Sears Holdings Corp aren't the only ones hoping for a turnaround of the big retailer. Goldman Sachs Group Inc and some of its clients are sweating it out, too.
* Clients of Goldman invested about $3.5 billion in Lampert's hedge fund through a special deal more than four years ago. Goldman invested about $75 million of its own money as part of the arrangement.
* News Corp is teaming up with a Colombian TV company to create a Spanish-language broadcast network for the US, reflecting a rush to cash in on the booming Hispanic population.
* British and European Union officials have convinced some US lawmakers to ensure that any new sanctions against Iran exempt a BP PLC -led natural-gas project, as Western governments try to isolate Tehran without harming their own energy security.
* The $20 billion project in the Caspian Sea off Azerbaijan is seen as key to alleviating Europe's dependence on Russia as its largest supplier of natural gas.
* Talks between Greece and its private-sector creditors over a debt write-down plan appeared to stall Saturday as the banks' top negotiator left Athens amid signs of fresh disagreements over how much Greece would pay its bondholders in the future.
FT
IKEA SHELVES INDIAN RETAIL MOVE
Sweden's IKEA, the world's biggest furniture retailer, is withholding its entry into India in spite of New Delhi's move to open its market to foreign retailers as the Swedish homewares company accelerates its expansion in other Bric countries. http://www.ft.com/cms/s/0/a8fb7d9c-4500-11e1-a719-00144feabdc0.html#axzz1kDdWJO00
PEACOCKS TO PERSIST IN SEARCH FOR A BUYER
Private equity firms and buy out groups are preparing to bid for Peacocks, the distressed British fashion retailer which collapsed into administration last week. http://www.ft.com/cms/s/0/eff9c7e6-44e5-11e1-a719-00144feabdc0.html#axzz1kDdWJO00
LENDERS SHOW FAITH IN NOKIA SIEMENS
Nokia Siemens Networks has raised more than 1.2 billion euros of finance from a consortium of 14 European and U.S. banks in a vote of confidence from the lending market in the troubled telecoms equipment maker's strategic overhaul. http://www.ft.com/cms/s/0/930a3400-44f2-11e1-be2b-00144feabdc0.html?ftcamp=rss#axzz1kDdWJO00
SIERRA LEONE DIAMOND MINER SET FOR HK LISTING
The diamond industry's race to public markets is accelerating, with plans by Beny Steinmetz Group, the privately-held natural resources company, to float Sierra Leone's biggest diamond mine on the Hong Kong stock exchange. http://www.ft.com/cms/s/0/3a203dfa-44e6-11e1-be2b-00144feabdc0.html?ftcamp=rss#axzz1kDdWJO00
TURKISH MEDIA GROUP ATTRACTS FOREIGN INTEREST
News Corp, Time Warner and Texas Pacific Group are among five foreign companies expected to show interest in assets belonging to Turkey's second-biggest media group this week, but international bidders have doubts about the $700 million to $1.25 billion auction process leading to a sale. http://www.ft.com/cms/s/0/38566d1c-4538-11e1-a719-00144feabdc0.html#axzz1kDdWJO00
EU PLANS RAISE HOME FORECLOSURE RISK
UK homeowners could face higher mortgage costs and find themselves at greater risk of foreclosure as early as next year because of an obscure clause in the bank capital directive being worked on by the European parliament. http://www.ft.com/cms/s/0/c288b7b8-44f4-11e1-be2b-00144feabdc0.html#axzz1kDdWJO00
CHINA INVESTORS SET THEIR SIGHTS ON HOLLYWOOD
A consortium led by Chinese media entrepreneur Bruno Wu is scouring Hollywood for film companies to acquire, in a sign of China's growing interest in the U.S. entertainment industry. http://www.ft.com/cms/s/0/ab8eba30-4355-11e1-9f28-00144feab49a.html#axzz1kDdWJO00
VOVLO SEEKING SMALL CAR PARTNER
Volvo is looking for a partner to share development of its future compact models, according to its chief executive. http://www.ft.com/cms/s/0/323469ac-4399-11e1-adda-00144feab49a.html#axzz1kDdWJO00
PARIS AND BERLIN SEEK TO DILUTE BANK RULES
France and Germany are to call for a relaxation of global bank capital rules to prevent lending to the real economy being choked off, setting them at odds with the UK's stricter approach to banks. http://www.ft.com/cms/s/0/7f8485a8-4500-11e1-a719-00144feabdc0.html#axzz1kDdWJO00
NETWORK RAIL SEEKS LINK WITH TRAIN OPERATOR
Britain's Network Rail is in talks with the operator of South West Trains to form a joint management team for the franchise, in the biggest step towards integrated running of track and trains since the roles were split when British Rail was privatised in the mid-1990s. http://www.ft.com/cms/s/0/2b1b2f84-450b-11e1-a719-00144feabdc0.html#axzz1kDdWJO00
NYT
* Jim Balsillie and Mike Lazaridis, who made the BlackBerry a leading business tool but then presided over its precipitous decline, said they would step down on Monday as co-chairmen and co-chief executives of Research in Motion.
* As company boards prepare to vote on the annual compensation of their senior executives, investors and the government in Britain are pushing for ways to shrink what some have called excessive pay packages.
Over the last two months, two of the country's biggest investors stepped forward to declare their general disapproval with the level of executive pay, and to call for investors to be given more say over the packages.
* For adults, tablet computers and e-readers were the gifts of choice, judging by a new report that indicates the number of adults in the United States who own tablets and e-readers nearly doubled from mid-December to early January.
The report, from the Pew Research Center's Internet and American Life Project, found that the share of adults who owned tablet computers increased to 19 percent from 10 percent, with the same increase for adults who owned e-readers.
* The Federal Reserve, which does not like to surprise financial markets, has worked unusually hard to prepare the public for the changes to its communications policies that it plans to introduce on Wednesday.
While the changes could make it easier for the Fed to move ahead with another round of asset purchases later this year, by helping to explain why the economy needs additional stimulus, officials have indicated that any such plans remain on the back burner, and may stay there so long as the economy continues to recover.
* In negotiations on restructuring Greece's debt, the country and its private creditors disagreed over how much interest the new bonds would pay
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