Lloyds/HBOS will not be nationalized but the government is set to inject more cash

Market Recap

DJIA -1.04%, Nasdaq -0.48% and S&P -1%

Nikkei -0.38%

WTI Crude Oil USD 37.54

Gold USD 938.15

USD/EUR 1.2758

Today is President’s Day Holiday is the US. Markets are closed.

U.S. News

US Congress approved the USD 787bn fiscal stimulus over the weekend.

Amazon had on Friday its rating cut by S&P

Pepsi reported better than expected Q4 numbers

European News

Daimler and BMW are close to signing a cooperation aimed at saving costs.

Enel is close to buying Acciona’s 25% stake in Spanish utility Endesa.

Air France may delay taking delivery of planes from Boeing and Airbus.

Air Liquide reports good FY2008 results

RWE is planning a radical restructuring of the company. Sales, marketing and power production will be grouped together.

Ciment Français and Italcementi will be suspended today. No reasons mentioned.

Lloyds/HBOS will not be nationalized but the government is set to inject more cash.

Belgacom needs to pay back EUR 100m in taxes to Belgian authorities.

ING will exit F1 sponsoring programme after 2009 season.

RBS may axe around 20’000 jobs and retreat from several emerging markets.

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