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Sep 4, 2012

GATA | THE GATA DISPATCHES -September 4, 2012-:: Currency Wars / Devaluation Policy and Higher Prices / Kitco News Daniela Cambone interviews GATA Chairman

'Currency Wars' author Jim Rickards to speak at CMRE meeting in NYC Oct. 18

10:04p ET Tuesday, September 4, 2012

Geopolitical analyst, hedge fund manager, and "Currency Wars" author James G. Rickards, who spoke at GATA's Gold Rush 2011 conference in London last year, will be among the speakers at the fall meeting of the Committee for Monetary Research and Education, to be held Thursday, October 18, at the Union League Club in New York.

Also speaking will be:
-- The economist Alex J. Pollock of the American Enterprise Institute.
-- The economist Walker Todd of the American Institute for Economic Research, also a director of CMRE.
-- Myrmikan Capital founder Dan Oliver.
-- CMRE Director Howard Segermark.

-- Richard Rahn of the Cato Institute.
-- And professional trader and market commentator Victor Sperandeo.

Courtesy of the American Numismatic Association, the meeting will include a display of ancient coins -- and maybe a late entry, a euro, which would pair nicely with a U.S. silver dollar.
The Union League Club is a beautiful, dignified, and comfortable old place just a few blocks south of Grand Central Station, within easy walking distance, and dinner there is always excellent.
Admission will be $175 for CMRE members and their spouses, $185 for others.
Your secretary/treasurer plans to attend and sure would like to see some GATA supporters there.
The program for the meeting is here:

http://www.gata.org/files/CMREFlyer-10-18-2012.doc

A reservations form is here:

http://www.gata.org/files/CMREReservationForm-10-18-2012.doc
Inquiries about the meeting should be directed to CMRE's tireless president, Elizabeth Currier, at
CMRE@BellSouth.net.

Devaluation policy guarantees higher commodity prices, Rule tells King World News

9:30p ET Tuesday, September 4, 2012

Resource company broker Rick Rule today tells King World News that central banks have misconstrued the bank solvency problem as a liquidity problem, have resolved to weaken their currencies, and therefore have guaranteed higher monetary metals and commodity prices. An excerpt from the interview is posted at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/9/4_Ric...


Kitco News' Daniela Cambone interviews GATA Chairman Bill Murphy

 

9p ET Tuesday, September 4, 2012
Interviewed today by Daniela Cambone of Kitco News, GATA Chairman Bill Murphy discussed gold and silver price manipulation, the everlasting investigation by the U.S. Commodity Futures Trading Commission of the silver market, and likely supply shortages in silver. The interview is nine minutes long and it's posted at Kitco here:

http://www.kitco.com/KitcoNewsVideo/


Live Coverage of the First Night of the Democratic National Convention: NYT Politics September 4, 2012:

The New York Times

September 4, 2012

Politics



Live Coverage of the First Night of the Democratic National Convention

The Times's political unit is on the ground in Charlotte, N.C., and will be providing live updates, analysis and video broadcasts beginning at 7 p.m. Eastern time.
Rev. Rodney McFarland heads to his seat inside the Time Warner Cable Arena before the first evening of the DNC Convention  in Charlotte, NC,  Tuesday, Sept. 4, 2012.

First Lady to Extol First-Term Record in Convention Kickoff

Speaking on the first night of the Democratic convention, Michelle Obama will promote the president's accomplishments, particularly the health care law, campaign aides said.
ADVERTISEMENT

More Politics

In Africa, Clinton Works to Leave a Charitable Legacy

On a recent trip, Bill Clinton showed how he is bringing his family deeper into the Clinton Foundation, perhaps confronting a future without him.
A worker checked the stage at the Time Warner Cable Arena before the start of the Democratic National Convention in Charlotte, N.C., on Tuesday.

How the Party Platforms Differ

The Democratic Party platform to be approved Tuesday offers a stark contrast to the Republican one adopted last week, especially on abortion rights, gay marriage and the future of Medicare and Social Security.

First Lady Strives for Caring Image Above Partisan Fray

Michelle Obama's enthusiastic embraces have become a minor phenomenon, with people lining up for hugs at events. Her signature gesture is warm and striking.
Political Memo

Spirit of '08 Gone, Democrats Reunite Against G.O.P. Threat

The party is not as united as it was four years ago, but Democrats are finding common purpose in denying Republicans control of the White House and Congress next year.
Cardboard cutouts of President Obama and health care workers at the Democratic National Convention site in Charlotte, N.C.

Democrats Say U.S. Is Better Off Than Four Years Ago

The party's message to wavering voters is that President Obama was the right choice in 2008, and that he has the country on its way to a sustainable recovery.
Brianna McKay, an Ohio Education Association representative, after giving out

Ohio Unions Battle Conservative 'Super PACs' for Votes

Unions' get-out-the-vote efforts face a daunting challenge: Conservative "super PACs" with unlimited donations have saturated Ohio and other crucial states with anti-Obama ads.
The Party

Lobbyists and Friends in Exile (Wink, Wink)

From a spot not so distant from the convention, two superlobbyists held court at a high-powered brunch - in cheeky accordance with presidential restrictions.

The Caucus

Protest Outside Convention Leads to Standoff With Police

A protest greets the first day of the Democratic convention hours before it is to start.

In North Carolina, Romney and Obama Are in a Tight Race

In North Carolina, where the Democratic faithful have descended to hold their convention, 47 percent of likely voters are supporting the Republican candidate, Mitt Romney, and 43 percent are supporting President Obama.

On the Road to North Carolina, Obama Stops to Shore Up Support in Virginia

Of all the swing states this election, there are few more coveted by Democrats then this former capital of the Confederacy.

Another $100 Million Month for Romney and the R.N.C.

Mitt Romney and the Republican National Committee raised about $100 million in August, a person briefed on the total said Tuesday.

For Michelle Obama, Convention Speech Is a New Point in Transformation

Michelle Obama's convention speech will mark a new point in her transformation from a Chicago hospital executive who openly called politics a waste of time to a hugely popular first lady.

At Democratic Convention, Eastwood Joke Is a Recurring One

Clint Eastwood's sketch-comedy routine with an empty chair has become a seemingly mandatory (read: worn out) joke here, dropped with as much frequency as the names Michelle or Barack.

Can We Have Your Autograph, Mr. Gibbs?

Robert Gibbs, the former press secretary who is now an outside adviser to Mr. Obama, was mobbed when he walked through the convention hall on Tuesday.

Standard and Poor's Latin America Highlights September 4, 2012: Is Latin America Prepared for the Rocky Road Ahead?

Standard & Poor's LatinAmerica Highlights
September 4, 2012

Multimedia

CreditMatters TV
Porqué Standard & Poor’s revisó su perspectiva de Colombia
English Version
Not a subscriber to S&P Podcasts? It's easy and free. register here
Is Latin America Prepared

Top Stories

Métricas de Crédito de Mercados Emergentes: As tendências de Ratings no Brasil São Positivas

A economia brasileira se recuperou fortemente da recente recessão global, com o PIB real do país
crescendo a robustos 7,5% em 2010.

How State Ownership Affects Latin American And Caribbean Oil And Gas Companies

Because oil and gas are key resources, oil and gas companies are strategic assets for their Latin American owners, their home countries. Most of these companies play a critical role in their national economies as large exporters, taxpayers, and employers.

Credit FAQ: The Impeachment Of Paraguay's Former President Has Had A Limited Economic Impact

Since the impeachment of Paraguay's former president, Fernando Lugo, on June 22, the country has not experienced significant political unrest or any external sanctions by its major trade members.

Industry Report Card: Latin American Chemicals And Petrochemicals Sector Outlook Is Stable Despite Volatile Oil Prices And Global Macroeconomic Woes

The Standard & Poor's Ratings Services' outlook on Latin American chemical and petrochemical companies is stable. Despite the oil prices' volatility--due to the softening U.S. economy, recession in the eurozone, lower oil demand in China, and greater supply--the companies in the sector have been able to pass along higher costs to customers.

Global Uncertainty Weighs On North American Credit Conditions, Report Says

Standard & Poor's Ratings Services said it believes the chance of another recession in the U.S. has risen, while the odds of a true double-dip downturn in the eurozone economy remain high.

Será que os esportes poderiam ajudar o Brasil a atingir finalmente suas metas de crescimento econômico?

Apesar dos ratings na categoria grau de investimento e do otimismo em geral sobre as perspectivas da República Federativa do Brasil – BBB/Estável/A-2 (ME), A-/Estável/A-2 (ML) e brAAA/Estável/-- (ENB), o crescimento econômico do país continua abaixo do esperado.

Rating News

Argentina

Standard & Poor's afirma calificación de 'B' de Banco Hipotecario S.A.; la tendencia es negativa

Buenos Aires, 23 de agosto de 2012.- Standard & Poor's Ratings Services afirmó su calificación de ‘B' del Banco Hipotecario S.A. La tendencia se mantiene negativa.

English Version

Belize

Belize Foreign Currency Ratings Lowered To 'SD' On Failure To Pay Coupon On Bond Due In 2029

NEW YORK (Standard & Poor's) Aug. 21, 2012--Standard & Poor's Ratings Services today said it lowered its long- and short-term foreign currency sovereign credit ratings on Belize to 'SD' (selective default) from 'CC/C'.

Brazil

S&P eleva ratings das cotas seniores do FIDC Pine Crédito Privado; Rating removido do CreditWatch

São Paulo (Standard & Poor’s), 31 de agosto de 2012 — A Standard & Poor’s Ratings Services retirou hoje o rating atribuído às cotas seniores do Fundo de Investimento em Direitos Creditórios Financeiros – Pine Crédito Privado (FIDC Pine Crédito Privado) da listagem CreditWatch, na qual foi colocado com implicações positivas em 24 de maio de 2012.

Chile

Standard & Poor’s revisa tendencia de CMPC S.A. a negativa de estable por debilitamiento del perfil financiero; afirma clasificaciones de ‘BBB+’

La revisión de la tendencia refleja nuestra opinión de que el perfil de riesgo financiero de la empresa podría deteriorarse frente a resultados y flujos de fondos modestos y niveles de deuda elevados para la categoría de clasificación asignada.

English Version

S&P baja clasificación de Inversiones CorpGroup Interhold a ‘BB’ desde ‘BB+’ y la retira de CreditWatch tras baja de clasificación de Corpbanca; la tendencia es estable

La baja de la clasificación sigue a una acción similar sobre la clasificación de Corpbanca hasta ‘BBB+' desde ‘A-', que es el contribuyente de flujo más importante de Interhold.

English Version

S&P baja clasificación de Corpbanca a ‘BBB+’ de ‘A-’ y la retira de Revisión Especial (CreditWatch) tras completar adquisición de operaciones en Colombia

Ciudad de México, 22 de agosto de 2012.- Standard & Poor's Ratings Services bajó su clasificación crediticia de emisor de largo plazo de Corpbanca hasta ‘BBB+' desde ‘A-' y confirmó la de corto plazo en ‘A-2'.

English Version

Standard & Poor's asigna clasificación de deuda de 'A' a las notas por US$500 millones de Banco de Crédito e Inversiones

La clasificación de las notas es la misma que la calificación de crédito de contraparte de largo plazo del banco, lo que refleja nuestra opinión de que las notas se considerarán en igualdad de condiciones ( pari passu ) con otras obligaciones.

Colombia

Calificacion Soberana: Colombia (República de)

Las calificaciones de la República de Colombia reflejan el historial de gestión económica cautelosa mantenida por el gobierno que ha impulsado gradualmente su flexibilidad fiscal y monetaria, ha contenido su nivel de deuda y ha reforzado sus ...

Granada

Grenada 'B-' Long-Term Ratings Affirmed, Outlook Remains Stable; Short-Term Ratings Raised To 'B' On Criteria Change

Grenada's high levels of fiscal and external indebtedness constrain the ratings. We are affirming our 'B-' long-term foreign and local currency sovereign credit ratings on Grenada.

Mexico

S&P revisa perspectiva de Banorte a positiva, asigna calificaciones de 'mxAA+' y 'mxA-1+' y confirma calificaciones en escala global de 'BBB-' y 'A-3'

Revisamos la perspectiva de las calificaciones de Banorte debido a nuestra percepción de la mejora gradual de su posición de riesgo. Entre otras cosas, el banco ha logrado reforzar su diversificación de riesgo, particularmente en su cartera de crédito.

Standard & Poor's confirma calificaciones de HSBC México; la perspectiva es estable

México, D.F., 27 de agosto de 2012.- Standard & Poor's Ratings Services confirmó sus calificaciones de crédito de contraparte en escala global de largo y corto plazo de ‘BBB' y ‘A-2', respectivamente, de HSBC México S.A.

Standard & Poor's asigna calificaciones de 'mxA-' y 'mxA-2' a Banco Multiva con perspectiva estable y califica con 'mxBBB' su emisión propuesta de deuda subordinada

Las calificaciones de Banco Multiva reflejan nuestra evaluación de posición de negocio ‘moderada', evaluación de capital y utilidades ‘adecuada', posición de riesgo ‘moderada', estructura de fondeo ‘inferior al promedio' y perfil de liquidez ‘adecuado'.

Southern Copper Corp.'s Proposed Senior Unsecured Notes Rated 'BBB'

MEXICO CITY (Standard & Poor's) Aug. 27, 2012--Standard & Poor's Ratings Services assigned its 'BBB' issue-level rating to U.S.-based mining company Southern Copper Corp.'s (SCC; BBB/Stable/--) senior unsecured notes due 2022 and 2042.

Panama

Standard & Poor's revisa perspectiva a positiva de BAC International Bank y Credomatic International; confirma calificaciones de 'BBB-' y 'A-3'

México, D.F., 30 de agosto de 2012.- Standard & Poor's Ratings Services revisó la perspectiva de su calificación de largo plazo de BAC International Bank Inc. (BIB) y de su principal entidad operativa y fundamental, Credomatic International Corp.

Paraguay

S&P confirma calificaciones soberanas de 'BB-' y 'B' de Paraguay y las retira de Revisión Especial con implicaciones negativas; la perspectiva es estable

Nueva York, 29 de agosto de 2012.- Standard & Poor's Ratings Services confirmó hoy sus calificaciones soberanas de largo plazo de ‘BB-' y de corto plazo de ‘B' de la República de Paraguay, y las retiró de su listado de Revisión Especial (CreditWatch) ...

English Version

S&P retira calificaciones de tres bancos paraguayos de Revisión Especial tras acción similar sobre las calificaciones soberanas de República de Paraguay

México, D.F., 30 de agosto de 2012.- Standard & Poor's Ratings Services afirmó hoy las calificaciones de ‘BB-' de Visión Banco S.A.E.C.A., Banco Bilbao Vizcaya Argentaria Paraguay S.A., y Banco Continental S.A.E.C.A y las retiró del listado de Revisión Especial ( CreditWatch ) con implicancias negativas, tras una acción similar tomada sobre las calificaciones soberanas de la República de Paraguay (BB-/Estable/B).

English Version

Peru

Standard & Poor's revisa perspectiva de Perú a positiva por sólidas expectativas de inversión; confirma calificaciones

Nueva York, 28 de agosto de 2012.- Standard & Poor's Ratings Services hoy revisó su perspectiva de las calificaciones soberanas de República del Perú (Perú) a positiva de estable.

English Version

Banco de Credito del Peru Outlook Revised To Positive From Stable On Similar Action On The Sovereign

On Aug. 28, 2012, we revised the outlook on the Republic of Peru to positive from stable. We are revising our outlook on Peru-based bank Banco de Credito del Peru to positive from stable. We expect the bank to keep its strong business position within...

S&P revisa perspectiva de calificaciones de BBVA Banco Continental a positiva de estable tras acción similar sobre la calificación soberana de Perú

México, D.F., 29 de agosto de 2012.- Standard & Poor's Ratings Services revisó a positiva de estable la perspectiva de las calificaciones de largo plazo de ‘BBB' del banco peruano BBVA Banco Continental S.A.

English Version

S&P revisa perspectiva de calificaciones de Corporación Financiera de Desarrollo a positiva de estable tras acción similar sobre la calificación soberana de Perú

On August 28, we revised the outlook on Peru to positive from stable. We are revising our outlook and affirming the 'BBB' rating on Peru-based bank COFIDE to positive from stable. We expect the bank will maintain its important role in the development...

English Version

S&P revisa perspectiva de Grupo ACP Inversiones Y Desarrollo a positiva desde estable tras acción de calificación similar sobre Mibanco

México, D.F, 29 de agosto de 2012.- Standard & Poor's Ratings Services revisó a positiva desde estable la perspectiva de la calificación de largo plazo de Grupo ACP Inversiones Y Desarrollo.

English Version

S&P revisa perspectiva de la calificación de largo plazo de Mibanco Banco De La Microempresa a positiva desde estable tras acción de calificación soberana de Perú

Sao Paulo, 29 de agosto de 2012.- Standard & Poor's Ratings Services revisó a positiva desde estable la perspectiva de Mibanco Banco de la Microempresa S.A. Al mismo tiempo, afirmamos nuestra calificación de ‘BBB' del banco.

English Version

S&P revisa perspectiva de la calificación de largo plazo de Scotiabank Perú a positiva desde estable tras acción similar sobre la calificación soberana de Perú

México, D.F., 29 de agosto de 2012.- Standard & Poor's Ratings Services revisó a positiva desde estable la perspectiva del banco peruano Scotiabank Perú S.A.A. Al mismo tiempo, afirmamos nuestra calificación de ‘BBB' del banco.

English Version

BBVA Banco Continental’s Proposed $400 Million Senior Notes Rated 'BBB'

BUENOS AIRES (Standard & Poor's) Aug. 22, 2012-- Standard & Poor's Ratings Services assigned its 'BBB' rating to BBVA Banco Continental's proposed senior unsecured fixed-rate notes for up to $400 million, which could be amended up to $500 million.

Uruguay

Standard & Poor's afirma calificaciones en escala global de largo plazo de 'BB+' y de corto plazo de 'B' de Banco Bilbao Vizcaya Argentaria Uruguay; la tendencia es estable

México, 27 de agosto de 2012.- Standard & Poor's Ratings Services afirmó sus calificaciones de largo y corto plazo de ‘BB+' y ‘B', respectivamente del Banco Bilbao Vizcaya Argentaria Uruguay (BBVA Uruguay).

English Version

NYT Global Update -September 4, 2012-: United Nations Says 100,000 Refugees Fled Syria in August

The New York Times International Herald Tribune
September 4, 2012

Global Update



TOP NEWS

United Nations Says 100,000 Refugees Fled Syria in August

By DAVID D. KIRKPATRICK and HWAIDA SAAD
A sudden acceleration of the exodus came after the government of President Bashar al-Assad started using airstrikes against rebel neighborhoods.

First Lady to Extol First-Term Record in Convention Kickoff

By ADAM NAGOURNEY
Speaking on the first night of the Democratic convention, Michelle Obama will promote the president's accomplishments, particularly the health care law, campaign aides said.

How the Party Platforms Differ

By MICHAEL COOPER
The Democratic Party platform to be approved Tuesday offers a stark contrast to the Republican one adopted last week, especially on abortion rights, gay marriage and the future of Medicare and Social Security.
Fashion & Style

Video: Designer Beats

Three New York designers open up about how music inspires the creation and presentation of their spring 2013 collections.
Opinion

Latitude

Coming to Australia

By LUKE HUNT
Catering to an immigration-sensitive electorate, the Australian government is making it harder for Afghan refugees to make a new home on a land they've risked death to reach.
WORLD

Elephants Dying in Epic Frenzy as Ivory Fuels Wars and Profits

By JEFFREY GETTLEMAN
Conservation groups say poachers are wiping out tens of thousands of elephants a year, more than at any time in the previous two decades, with the ivory trade becoming increasingly militarized.

A Harsh Reception for Clinton in China's State Media

By STEVEN LEE MYERS and JANE PERLEZ
As Secretary of State Hillary Rodham Clinton prepared to visit China on Tuesday, editorials, articles and comments by Chinese analysts contained unusual bite.

In Britain, Cameron Reshuffles Cabinet

By JOHN F. BURNS
The changes produced only one surprise: a promotion for Jeremy Hunt despite his entanglement in a furor over ties between the prime minister's inner circle and Rupert Murdoch's media empire.
BUSINESS

Fears Rising, Spaniards Pull Out Their Cash and Get Out of Spain

By LANDON THOMAS Jr.
While the situation in Spain is not as dire as that of Greece, some Spaniards are taking their euros, and sometimes themselves and their families, out of the country.

European Leaders Step Up Talks

By JAMES KANTER and MELISSA EDDY
Angela Merkel, the German chancellor, was to meet with Herman van Rompuy, the European Union president, on Tuesday to discuss ideas for how to weave the Union more tightly together.

Airport Delays Undermine Image of German Efficiency

By NICOLA CLARK
Technical and budgetary problems have repeatedly delayed the opening of Belrin's new airport, which was supposed to be a symbol of the city's dominance and a tribute to German unification.
TECHNOLOGY
Bits Blog

Hackers Claim to Have 12 Million Apple Device Records

By NICOLE PERLROTH
Hackers have released a file that they say contains more than one million identification numbers for Apple iPhones, iPads and iPod Touch devices. They claim to have obtained the file by hacking into the computer of a federal agent, though the F.B.I. denied that this had happened.
Bits Blog

Big Data in the (Heated or Cooled) Air Around You

By QUENTIN HARDY
Nest Labs makes a smart thermostat that promotes energy saving by studying its owner's habits and predicting things about when people are home and what they are likely to do with their home heating and cooling.

What Restaurants Know (About You)

By SUSANNE CRAIG
In the name of good service, many restaurants keep a computer file on regular customers, noting their favorite foods and other information.
SPORTS

Azarenka Gains Open Semifinals for First Time

By LYNN ZINSER
Top-seeded Victoria Azarenka outlasted Sam Stosur in a third-set tiebreaker on Tuesday and moved on to play Maria Sharapova or Marion Bartoli in the semifinals.

Can Liverpool Bridge the Trans-Atlantic Gap?

By ROB HUGHES
Liverpool's new American owner has assured fans that, despite the miserable start to the season, "the club is healthier today than when we took over." Healthier in what way?

From First Shot to Last, Williams Is Dominant

By HUNTER ATKINS
Dominant only begins to describe Serena Williams's 6-0, 6-0 fourth-round win over Andrea Hlavackova of the Czech Republic in 57 minutes at the U.S. Open.
U.S. NEWS

Project Aims to Harness the Power of Waves

By KIRK JOHNSON
Energy development groups will be watching closely when the first commercially licensed grid-connected wave-energy device in the nation is launched in October.

Federal Trial Set to Open for Ex-Mayor of Detroit

By STEVEN YACCINO
Kwame M. Kilpatrick was a rising star when he was elected mayor of Detroit at 31. Now 42, he could face a 30-year prison term.

Ohio Unions Battle Conservative 'Super PACs' for Votes

By MONICA DAVEY and STEVEN GREENHOUSE
Unions' get-out-the-vote efforts face a daunting challenge: Conservative "super PACs" with unlimited donations have saturated Ohio and other crucial states with anti-Obama ads.
OPINION
Op-Ed Contributor

Why Mali Matters

By ANTÓNIO GUTERRES
The multiple crises unfolding in and around Mali today are shaped by an intersection of trends which resonate far beyond the region.
Op-Ed Columnist

The Elevator Speech

By DAVID BROOKS
President Obama needs to tell us what he stands for, and unearth a big policy proposal to prove it.
Op-Ed Columnist

The Hex on Paul Ryan

By FRANK BRUNI
There are few killers of reputation or recipes for discontent as surefire as the vice presidential nomination.

DealBook | DealB%K Afternoon Edition -September 4, 2012-: Standard Deduction: What's at Issue in the Private Equity Tax Inquiry.



Tuesday, September 4, 2012
TOP STORY
Standard Deduction: What's at Issue in the Private Equity Tax Inquiry Victor Fleischer, in a new column for DealBook, says that the New York attorney general's office is said to be investigating private equity firms' use of a tax strategy known as management fee waiver programs - programs that might not hold up if challenged in court.
  • DEALBOOK »
  •  
  • DEALBOOK HIGHLIGHTS
    White Collar Watch: In UBS Convictions, Parallels to the Libor Investigation Peter J. Henning says that a case against the three former UBS executives who were convicted last week has a number of interesting parallels to the Libor investigation, and can provide the framework for cases that might emerge.
    Valeant Sticks to Torrid Pace of Deal-Making The $2.6 billion acquisition of Medicis Pharmaceutical is the 11th deal this year for the Montreal-based Valeant, which merged with Biovail of Canada in 2010.
    Santander Seeks $4.2 Billion I.P.O. of Its Mexican Unit The listing would be one of the largest I.P.O.'s ever in Mexico, and comes as the country's economy continues to grow on the back of strong local demand. At the same time, American depository receipts of the unit would list on the New York Stock Exchange.
    Dick Clark Productions Sold to Guggenheim Partners Dick Clark Productions, the company that produces the Golden Globe Awards show and the New Year's Eve broadcast hosted for nearly 40 years by its late founder, was sold to Guggenheim Partners and a pair of multimedia investors on Tuesday.
    Ahold Weighs Sale of Stake in ICA of Sweden The Dutch retailer Ahold says it is considering options for its 60 percent stake in the Swedish supermarket chain ICA, including selling its holding.
    Revolving Door: Nomura Reshuffles Investment Banking Unit William Vereker is stepping aside as Nomura's joint head of investment banking, leaving Kentaro Okuda as chief of the unit, according to an internal memo.
    LOOKING AHEAD
    Economic Reports The data released on Tuesday will include the Institute for Supply Management manufacturing index for August and construction spending for July.
    Corporate Earnings Companies reporting results on Tuesday will include Campbell Soup and Smithfield Foods.
    In the United States On Tuesday, Automakers will report North America sales for July, and the parent of American Airlines will renew an effort to cancel its pilots' contract in bankruptcy court.
    Overseas The German finance minister, Wolfgang Schäuble will meet in Berlin on Tuesday with his Greek counterpart, Yannis Stournaras. Chancellor Angela Merkel of Germany will meet in Berlin with the president of the European Council, Herman Van Rompuy. Prime Minister Mario Monti of Italy will meet in Rome with President François Hollande of France.
    DealBook Video
    Business Day Live: How Plan to Help a City Pay Pensions Backfired
    Business Day Live: How Plan to Help a City Pay Pensions Backfired Examining the advertising industry's lack of diversity. | A look at America's financial illiteracy. | How a plan to pay city pensions in California backfired.