- Germany Crisis Role in Focus After G-20 Rebuff (Bloomberg)
- G20 to Europe: Show us the money (Reuters)
- Draghi’s Unlimited Loans Are No Panacea (Bloomberg)
- Geithner says Europe has lowered risks of "catastrophe" (Reuters)
- Gone in 22 Seconds (WSJ)
- Gillard beats Rudd to stay Australian PM (FT)
- Brazil Will Continue Reducing Interest Rates, Tombini Says (Bloomberg)
- China to Have ‘Soft Landing’ Soon: Zoellick (Bloomberg)
- China To Be Largest Economy Before 2030: World Bank (Reuters)
- Obama pressed to open emergency oil stocks (FT)
- Kim Jong-un kicks off Korean war games with threat to Seoul (Independent)
WSJ
* Officials from the world's leading economies deferred key decisions on international aid for Europe as they awaited more euro-zone action to fight the Continent's debt crisis.
* Ford's chairman said the auto maker will step up investments in technology and services that address increased congestion in the world's biggest cities.
* The decision by Sprint's board to shoot down a plan to buy rival MetroPCS shows the constraints that executives at the third-largest U.S. wireless carrier face at a tumultuous time in the U.S. telecom industry.
* Blackstone Group LP is making a $2 billion bet on U.S. natural-gas exports. The private-equity firm is expected to announce on Monday a $2 billion equity investment in Cheniere Energy Partners LP that will allow the company to build a gas-liquefaction plant in Sabine Pass, Louisiana, according to people familiar with the matter.
* Warren Buffett on Saturday sought to reassure Berkshire Hathaway Inc shareholders girding for an inevitable but anxiety-provoking leadership transition, stating that an unnamed individual has been chosen to eventually succeed him as the conglomerate's chief executive.
FT
UK'S PRUDENTIAL MAY MOVE TO HONG KONG
Prudential, one of Britain's oldest insurers, is considering plans to uproot its headquarters from London to Hong Kong amid concerns about the impact of new European capital adequacy regulations. http://www.ft.com/cms/s/0/9dc07666-609a-11e1-af75-00144feabdc0.html?ftcamp=rss#axzz1nWGxR5pN
LLOYDS AND RBS MAY TAP ECB'S LTRO FUNDS
Britain's two part-nationalised banks, Lloyds and RBS, plan to tap the European Central Bank's special three-year funding scheme for a combined amount of about 15 billion euros ($20.19 billion), on a par with some of the euro zone's largest banks. http://www.ft.com/cms/s/0/b24d34fe-5f17-11e1-a04d-00144feabdc0.html#axzz1nWGxR5pN
WELLS FARGO SET FOR FURTHER EXPANSION
Wells Fargo plans to increase the size of its wealth management and insurance divisions through acquisitions as well as buying more assets from shrinking European banks, its chief executive says. http://www.ft.com/cms/s/0/2061eafe-6092-11e1-af75-00144feabdc0.html?ftcamp=published_links/rss/home_us/feed//product#axzz1nWGxR5pN
G20 TURNS UP PRESSURE ON GERMANY
Finance ministers from the world's largest economies ratcheted up the pressure on Germany to increase the size of the euro zone's 500 billion euros ($673.15 billion) rescue fund, saying the move would be "essential" to a decision by non-European countries to raise more resources for the International Monetary Fund.http://www.ft.com/cms/s/0/8a197896-604b-11e1-af75-00144feabdc0.html#axzz1nWGxR5pN
PAYMENT-IN-KIND NOTES MAKE COMEBACK
A speculative, often toxic type of debt that became popular at the peak of the economic boom and recently contributed to the failure of UK retailer Peacocks could be staging a return. http://www.ft.com/cms/s/0/77882b54-5f11-11e1-a04d-00144feabdc0.html#axzz1nWGxR5pN
FORD BEEFS UP PENSION FUNDS AND DRIVES TO BONDS
Ford has more than doubled its annual contribution to its pension funds, to $3.8 billion, as the carmaker aggressively shifts its investments towards bonds in an attempt to limit its exposure to volatile stock markets. http://www.ft.com/cms/s/0/edbf33a2-5d6e-11e1-8bb6-00144feabdc0.html#axzz1nWGxR5pN
BLOOMBERG TO REVEAL DATA SERVICE REDESIGN
Bloomberg will announce a $100 million-plus redesign of its eponymous market data service on Monday, heightening its rivalry with Thomson Reuters by seeking to make its complex 30-year-old system simpler, more intuitive and easier to navigate. http://www.ft.com/cms/s/0/8f429986-6093-11e1-af75-00144feabdc0.html#axzz1nWGxR5pN
BAHRAIN'S ARCAPITA FACES DEBT CHALLENGE
Bahrain-based private equity investor Arcapita Bank is facing a potentially painful debt workout as it mandates advisers ahead of the March deadline for the Manama-based group to repay $1.1 billion of loans. http://www.ft.com/cms/s/0/c6502d42-6095-11e1-84dd-00144feabdc0.html#axzz1nWGxR5pN
AXA PLANS PROPERTY LENDING DRIVE
AXA is gearing up to lend 2 billion euros to European property companies during 2012 as one of Europe's largest insurers bids to cash in on the regulatory pressure curtailing bank financing across the continent. http://www.ft.com/cms/s/0/032c40fe-6067-11e1-84dd-00144feabdc0.html#axzz1nWGxR5pN
NYT
* It is Facebook's biggest conundrum. As the world's largest social network, it faces intense scrutiny from consumers, courts and regulators worldwide over how it handles the data it collects from its 845 million users. But as a company preparing to go public, it is under pressure to find new ways to turn that data into profit.
* Federal investigators examining the final days at MF Global and how customer money went missing are poring over scores of wire transfers in and out of the brokerage firm, including the possible movement of $325 million that may have belonged to customers, according to people briefed on the matter.
* Apple is estimated to have 52 percent of profits in the smartphone industry, but rivals are making smartphones for much less, threatening its supremacy.
European Economic Highlights:
- UK Hometrack Housing Survey 0.0% m/m -1.4% y/y. Previous 0.0% m/m -1.6% y/y.
- France Producer Prices 0.6% m/m 4.2% y/y – higher than expected. Consensus 0.4% m/m 4.1% y/y. Previous -0.1% m/m 4.7% y/y.
- Switzerland Household Lending 5.1% y/y – lower than expected. Consensus 5.2% y/y. Previous 5.2% y/y.
- Eurozone M3 s.a. 2.5% y/y – higher than expected. Consensus 1.8% y/y. Previous 1.6% y/y.
- Italy Business Confidence 91.5 – lower than expected. Consensus 92.3. Previous 92.1.
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