Newspaper wrap-up: Karl Rove to resign
Posted Aug 13th 2007 9:15AM by Eric Buscemi
Filed under: Newspapers, Magazines, PepsiCo (PEP), Citigroup Inc. (C), Goldman Sachs Group (GS), Barclays plc ADS (BCS)
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MAJOR PAPERS:
- White House deputy chief of staff Karl Rove is expected to resign August 31, reported the Wall Street Journal.
- Quantitative fund managers, including Barclay's (NYSE: BCS) and Goldman Sachs (NYSE: GS), are expected to start providing information on their funds activity which were part of the roller coaster stock market the past weeks, according to the Wall Street Journal.
- According to the Wall Street Journal, the European Central Bank and the Bank of Japan have added liquidity to markets: The ECB added $65.28B at rates beginning at 4.06% and The Bank of Japan added $5.07B to markets.
- The Financial Times reported, citing a person "briefed on the situation," that Citigroup Inc (NYSE: C) has lost more than $700M in credit business in recent weeks, but this is not a serious problem for the company as it earned $20B last year.
OTHER PAPERS:
- Lord Marland, the former Tory Party Treasurer, and the Reuben brothers may join together to make a joint offer for Orient-Express Hotels (NYSE: OEH), valued at $3B, reported the Telegraph.
- According to Kommersant, PepsiCo (NYSE: PEP) has reached an agreement to purchase over 70% of the stock of Lebedyansky, Russia's largest juice producer, for between $1.5B and $2B.
Tags: barclay's, bcs, c, citigroup, financial times, FinancialTimes, ft, goldman sachs, GoldmanSachs, gs, karl rove, KarlRove, newspaper, paper, periodical, wall street journal, WallStreetJournal, wsj
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