TOP STORIES
ECB HOLDS FIRM ON RATES DESPITE RECENT DATA
The European Central Bank kept interest rates unchanged at
record lows as officials wait to see if aggressive stimulus
measures announced in June and September are enough to boost
inflation and provide a lift to the eurozone's fragile economy.
U.S. JOBLESS CLAIMS FALL 8,000
Initial claims for unemployment benefits decreased by 8,000 to a
seasonally adjusted 287,000 in the week ended Sept. 27, the Labor
Department said. That was below the 297,000 claims economists
expected.
U.S. STOCKS OPEN LOWER
U.S. stocks open lower after the previous day's sharp losses.
Stocks tumbled yesterday to their lowest levels since mid-August on
worries about global growth.
BERKSHIRE TO BUY CAR DEALERSHIP GROUP
Berkshire Hathaway unveiled plans to enter the auto dealership
market. Warren Buffett's firm agreed to buy Van Tuyl Group, the
largest privately owned auto dealership group in the U.S. Financial
terms weren't disclosed.
CONSTELLATION BUYS GLASS PLANT IN BOOST FOR MEXICO BEER BUSINESS
Constellation Brands made a bigger bet on its beer operations,
saying it agreed to buy a Mexican glass factory from Anheuser-Busch
InBev for $300 million.
DARDEN TOUTS SALES GROWTH AHEAD OF PROXY VOTE
Darden Restaurants said sales increased for most of its chains
in September and it expects earnings for the current quarter to
come in at the higher end of its guidance.
DOW CHEMICAL TO DIVEST THREE MORE BUSINESSES
Dow Chemical said it is marketing three of its businesses for
divestment, and it now expects the proceeds of its entire
divestiture program to be at the higher end of its $4.5 billion to
$6 billion range.
MCCORMICK TOPS VIEWS, BOOSTS OUTLOOK
McCormick & Co.'s 3Q profit rose 18% to $122.9 million, or
94c a share, on strong international sales in its consumer business
segment. Earnings far outpaced analysts' view, and the seasoning
maker boosted its full-year earnings outlook.
ALLIANZ NAMES NEW CHIEF EXECUTIVE
Less than a week after Pimco co-founder Bill Gross left the
firm, the asset manager's German parent company, Allianz, said its
top executive is also on his way out.
HONG KONG POLICE VOW TO STOP PROTESTERS
The standoff between police and pro-democracy protesters in Hong
Kong threatened to come to a head as student demonstrators prepared
to block more government buildings and police vowed to stop
them.
SEARS TO RAISE $380M IN SEARS CANADA RIGHTS OFFERING
Cash-strapped Sears Holdings launched a new measure to help
boost liquidity heading into the holiday shopping season, this one
including another lifeline from its CEO as part of a plan to sell
most of its 51% stake in Sears Canada to its shareholders.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Grand Central
WORLD TORN BETWEEN ECB AND FED PATHS, WSJ SURVEY SHOWS
For a useful overview of the state of global central banking,
it's worth reviewing The Wall Street Journal's third quarter
outlook for central banks in 25 economies as far south as New
Zealand and north as Norway. Sign up here for The Wall Street
Journal's daily report on global central banks.
Capital Journal Daybreak
OBAMA BEGINS MIDTERM PUSH
After contending with foreign-policy crises and a shakeup at the
Secret Service, President Obama is seeking to shift attention back
to the economy and midterm elections. Sign up here for The Wall
Street Journal's morning rundown of the biggest news driving
Washington.