- Privately held Dell could announce the biggest takeover in tech history today after it agreed to take over EMC Corporation (EMC) for more than $53 billion, the Financial Times reports. However, EMC has asked Dell for a "go-shop" clause that would allow it to seek out other potential suitors and pay Dell a discounted breakup fee if it ends up being bought by another company, according to a Reuters report.
- Chinese shares jumped by around 3% on Monday after comments by a People's Bank of China (PBOC) official who said the stock market correction was almost over and after a report on Chinese state television late on Sunday that foreign direct investment was up 9% in the nine months to September.
- Commodities trading house Glencore (GLNCF) announced plans to sell more assets as part of its effort to cut its net debt by a third from around $30 billion. Glencore said it would sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile after receiving interest from potential buyers.
- Central bankers present at the International Monetary Fund (IMF) annual meeting in Lima, Peru, at the weekend urged the Federal Reserve to go ahead and raise interest rates, the Wall Street Journal reports. This is because emerging market policymakers have developed "Fed fatigue" and would prefer certainty to the repeated bouts of currency weakness caused by uncertainty over the timing of the rate increase.
- HSBC (HSBC), Europe's biggest bank, has lost a senior anti-money laundering expert, who left the bank to work for a consulting venture, Reuters reports citing sources. Daniel Wager, a former Homeland Security official with prior experience helping another multinational bank improve compliance controls, left last month and a replacement has not yet been announced.
More from Global Equity
Equity markets marked time on Monday, mostly on light volume.
They are more seasoned than traders of any other asset class.
Sunday's elections in Thailand have the potential to provide a big boost to the nation's economy - and to Thai stocks as well.
The equity market is massively overpriced, and there are some serious recession risks looming with a Fed that is backed into a corner.