- Dow tumbles 101.11 points. Wall Street Journal
- But oil services firms are booming. The Economist. Next week Macro Investor will be presenting some different ideas about mining services.
- Capital expenditure versus the capitalist executive. Buttonwood. Some intriguing findings about corporate governance and incentives.
- Violence flares again in Iraq. Voice of America
- Should we buy the dip on oil? Blast hits Iraq to Turkey pipeline. Digital Journal. Kurdish separatists blamed. (luckily it’s back online … for now)
- Meanwhile Turkey sends missile batteries to the Syrian border. AFP
- Arab League offers Assad an exit strategy. Financial Times
- And Damascus vows to not use chemical weapons. BBC
- Luckily for Obama, the economy is a lot stronger in the swing states. Washington Post
- Yet overall, US poverty is likely at highest point in 50 years. Chicago Tribune
- Even profits at McDonald’s are down. Wall Street Journal
- QE3 however is looking like a crowded trade. Sober Look
- The fiscal cliff and rationality. Econbrowser
- The pain in Spain continues. Financial Times
- And spreads to Germany, Netherlands and Luxembourg: all placed on negative credit outlook by Moody’s. FT Alphaville
- But at least one hedge fund manager is getting bullish on the Eurozone. New York Times
- Though first, Europe will need to sort out the single bank supervisor impasse. Wall Street Journal
- And sort out the rules that govern ECB policy. Forbes
- Elsewhere, Leveson inquiry extends to The Mirror and The Star. Guardian. Murdoch’s not the only villain in this morality play.
- Is the BrahMos ASCM a game changer in Asia’s arms race? The Diplomat
- Indonesia Asia’s new FDI magnet. Asia Times Online
- Pressure growing to end China’s one child policy. New York Times
- CNOOC to acquire Canada’s Nexen for $US15bn. DealBook
- Beijing floods kill 37, spark anger, questions. Wall Street Journal. Beijing’s drainage infrastructure is third world but Chinese now expect more.
- Are destroyed wetlands and deforestation to blame? China Digital Times
- It’s not too much Chinese infrastructure it’s too much uneconomic infrastructure. FT Alphaville
- Solution: get everyone focussed on blaming Japan. Chinese nationalists eye Okinawa. Financial Times
- More China links from Sinocism later today
- Sex, Lies and Julian Assange. Four Corners. Worth a watch.
- AMP Capital eyes cost cutting. The Australian. Tough times for planner-linked funds management.
- If Melbourne builds a train to Doncaster… higher property prices will generate the revenue to pay for it. The Age. $840m
- Is the mining boom really behind us? Sydney Morning Herald. I struggled to find the argument in this one.
- BHP reviewing which projects to axe. Australian Financial Review
- North Korea’s leadership – Disneyland for dictators . The Economist
- In trading, is your brain your enemy? Wall Street Journal
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