Ostrowski Resigns Bertelsmann AG (WSJ)
Bertelsmann AG, Europe’s largest media group, unexpectedly replaced its chief executive of nearly four years, announcing that its finance chief, Thomas Rabe, would succeed Hartmut Ostrowski.
Dow Soars as Stocks End Near Session Highs (CNBC)
Stocks surged in the final minutes of trading to close at session highs Monday, led by banks, amid optimism that France and Germany’s pledge would help resolve the euro zone debt crisis and rescue the region’s struggling financials.
Japan to Build Nuclear Plants Overseas (NYTimes)
Even as Japan plans to phase out nuclear power as too risky for domestic use, the government is supporting a new push by Japanese industry to sell nuclear power technology to other countries.
Beijing Moves to Stabilize Banks (FT)
The Chinese government will boost its stakes in the country’s largest banks, as it attempts to shore up slumping financial stocks and to restore investor confidence.
Sprint Falls as Analysts Cut Ratings (Bloomberg)
Sprint Nextel Corp. tumbled to its lowest since February 2009 as at least seven analysts cut their ratings on the stock after the carrier’s investor meeting, citing concerns that rising spending will hurt liquidity.
Crude Ends Higher on Kuwati Strike and European Rescue Plan (Reuters)
Slovak PM Threatens to Quit (Reuters)
Slovak Prime Minister Iveta Radicova threatened on Monday to quit if her center-right coalition does not reach agreement on Tuesday to expand the euro zone’s bailout fund, a government source said.
Hedge Funds Sue Morningstar (SmartMoney)
For years, investors have turned to Morningstar (MORN: 59.34, 2.33, 4.09%) for help in choosing their investments. A new legal case raises questions about some of the firm’s ratings.
Take Over Speculation Surrounds Research in Motion (CanadianBusiness)
Takeover speculation that routinely swirls around Research In Motion Ltd. could reflect moves by U.S. hedge funds to target the BlackBerry maker and cash in on its struggles. Shares in the Canadian technology icon (TSX:RIM) have jumped wildly, then dropped back, for much of the last year but especially in recent days on the latest takeover rumour in the market.
Hedge Funds Use Colocation to Compete Against Larger Firms (AdvancedTrading)
Looking back on his 40-year career in crime, famed bank robber Willie Sutton reportedly gave this answer to the reporter who asked why he robbed banks: “That’s where the money is.”