TOP STORIES
DOLLAR GENERAL RAISES FAMILY DOLLAR BID
Dollar General raised its bid for Family Dollar Stores and
warned it could try a hostile takeover if its rival's board doesn't
agree to talks. Dollar General raised its bid to $80 a share from a
prior offer of $78.50 a share.
RUSSIA URGES U.S. TO ACT ON UKRAINE
Russia's foreign minister called on the U.S. to push Kiev into
giving up its military campaign against pro-Russia rebels and
negotiate a political compromise, as support for the rebels from
Russia began reversing Ukrainian gains.
U.S. STOCKS TURN MOSTLY LOWER
U.S. stocks turned mostly lower, after stock-market gains in
August led to the largest monthly increases for the Dow industrials
and the S&P 500 since February. The Nasdaq Composite remained
slightly higher.
U.S. MANUFACTURING INDEX ROSE IN AUGUST
The U.S. manufacturing expansion revved up in August, according
to the Institute for Supply Management, whose manufacturing
purchasing managers index increased to 59.0 from 57.1 in July.
Economists had expected the latest PMI to slow to 56.8.
ERIC CANTOR TO JOIN WALL STREET INVESTMENT BANK
Eric Cantor plans to join boutique investment bank Moelis &
Co., as the recently defeated House majority leader embarks on a
new career on Wall Street.
CREDIT SUISSE PROBES ALLEGED TRADER MISCONDUCT
An internal Credit Suisse Group investigation into allegations
of inappropriate employee behavior through electronic
communications has roiled the bank's European stock-trading
desk.
KKR CASHES OUT OF CHINA MODERN DAIRY
After a six-year investment in China's largest raw milk
producer, private equity giant KKR & Co has finally sold its
remaining shares in China Modern Dairy, in a deal worth roughly $80
million.
NORWEGIAN CRUISE LINE TO ACQUIRE PRESTIGE CRUISES
Norwegian Cruise Line has agreed to buy Prestige Cruises for
about $3 billion in cash and stock, including the assumption of
debt, as the cruise-operator looks add luxury brands to its
offerings. Norwegian shares up 12%.
ENERGY COMPANIES FORM JV FOR ATLANTIC COAST PIPELINE
Four major U.S. energy companies disclosed plans to form a joint
venture to build the proposed Atlantic Coast Pipeline, which would
funnel natural gas from West Virginia to North Carolina.
AL-SHABAAB LEADER TARGETED IN U.S. AIRSTRIKE
Somali officials said that a U.S. airstrike Monday targeted a
town where senior commanders of the al-Shabaab militant group were
meeting, including the group's leader Ahmed Abdi Godane.
HALLIBURTON TO SETTLE DEEPWATER HORIZON CLAIMS
Halliburton said it agreed to a $1.1 billion settlement covering
a substantial majority of claims related to the 2010 Deepwater
Horizon rig explosion in the Gulf of Mexico.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
MoneyBeat
S&P 500 TO 3000: HOW IT COULD HAPPEN
The S&P 500 needed more than 16 years to double to 2000 from
1000. One Wall Street firm predicts the next 1,000-point rally
won't take nearly as long, writes Steven Russolillo.
Heard on the Street
GOING UNDERGROUND ON EUROZONE BOND YIELDS
Lending money when it's a losing proposition from the start
sounds like an odd thing to do. That's not stopping bond buyers in
the eurozone government bond market, Richard Barley writes.