IBT Staff Reporter

Daily Outlook - Sept 14

Nortel Networks Corp said Avaya Inc has emerged as the successful bidder at a bankruptcy auction for its Enterprise Solutions business and has agreed to pay $900 million in cash for the unit.

Thomson Reuters Corp said its tax and accounting business agreed to buy the Abacus Enterprise range of software and related business operations from Deloitte LLP.

Visa Inc, the world's largest payment network, said on Monday that its U.S. payment volume had declined in August as fewer consumers used their credit cards.

U.S. stock index futures fell on Monday as a decision by the United States to impose special duties on Chinese tires sparked investor concerns about a possible trade dispute.

U.S. stock index futures fell on Monday as a decision by the United States to impose special duties on Chinese tires sparked investor concerns about a possible trade dispute.

Oil eased toward $68 a barrel on Monday, after a decision by a major U.S. commodities exchange to enforce limits on large positions increased uncertainty and the dollar strengthened slightly.

Morgan Stanley could be the first of many big banks to tap their more staid businesses for the next generation of leaders, but that might not be enough to contain the culture of risk-taking that creates financial meltdowns.

Germany's plan to provide 4.5 billion euros ($6.5 billion) in state aid to Opel threatened on Monday to spark a political storm across Europe over where the carmaker was likely to cut plants and jobs.

President Barack Obama will try on Monday to revive a stalled push for stricter oversight of Wall Street, using the anniversary of Lehman Brothers' collapse to argue for sweeping regulatory changes.

Chinese media and officials have heaped scorn on a U.S. decision to impose special duties on Chinese-made tires, extending Beijing's warnings that the move may fuel trade friction as global growth struggles to revive.

Southeast Asia's biggest telecom operator, Singapore Telecommunications , said on Monday it would start to sell a social networking phone model INQ Mini 3G, targeting young customers.

Stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 0.63 percent, Dow Jones futures down 0.7 percent and Nasdaq 100 futures down 0.7 percent.

Oil fell more than a dollar toward $68 a barrel on Monday as a rebound in the beaten-down U.S. dollar and nagging concerns that prices may have run ahead of market fundamentals extended last week's late sell-off.

Shares in Japan Airlines jumped 8 percent on Monday on news American Airlines and Delta Airlines are considering rival investments in the struggling carrier to secure partnership ties and boost revenue from Asia.

The dollar crawled up on Monday from a one-year low against other currencies as speculators booked profits on bets against the greenback, while the yen's surge threatened Japanese exporters and drove Tokyo shares down.

The severity of the U.S. financial crisis exposed investors' need to whittle down a dependence on dollar-denominated assets and diversify globally, two of Wall Street's most influential figures said on Sunday.

U.S. health-care firm Johnson & Johnson is in talks to cut the price of a $1.5 billion deal with Irish drugmaker Elan Corp , a source familiar with the negotiations said on Sunday.

A U.S. drone fired a missile at a Taliban vehicle in Pakistan's North Waziristan ethnic Pashtun tribal region on the Afghan border on Monday, killing at least four militants, Pakistani intelligence officials and residents said.

Russia has agreed to lend Venezuela over $2 billion to purchase tanks and advanced anti-aircraft missiles in deals that show Moscow's commitment to working closely with Washington-foe President Hugo Chavez.

Al Qaeda leader Osama bin Laden warned the American people over their government's close ties with Israel in an apparently new audio tape posted on an Islamist website on Monday.

The Australian Dollar has held onto its recent gains and opens the new week at 0.8610. The Aussie closed higher on Friday after a range of positive Chinese economic data releases which boosted demand for the currency.

U.S. stocks are poised to repeat their advance this week as investors bet that the economic recovery is gaining strength and company outlooks are turning rosier.

Lady Gaga known for her eccentric dress style has not failed to disappoint this time at the MTV Video Music Awards ceremony on Sunday wearing a half-face mask and an all-black feathered dress.

The global economic crisis will weed out Italy's jewellery industry and prepare grounds for consolidation in the strongly fragmented sector, jewellers and industry officials said at a trade fair.

Japan Airlines Corp is considering raising about 250 billion yen ($2.76 billion) by March through measures including new shares issuances and borrowings, the Nikkei business daily reported on Sunday.

A merger between Dubai's top stock exchanges, Dubai Financial Market DFM.DU and Nasdaq Dubai NDAQ.DI, is a possibility, a leading official said, according to newspaper Emirates Business (www.business24-7.ae).

Reports that a Wells Fargo & Co executive used a bank-owned, beachfront Malibu home as her own private party pad reignited outrage over unbridled excesses at firms that received U.S. bailouts.

When the members of AFI began work on their 2006 album, Decemberunderground, they tried really hard not to think about it as the follow-up to a big successful record, guitarist Jade Puget says.