TOP STORIES
US FIRMS FACE NEW TAX CURBS
The Obama administration will roll out details of what aides are calling a far-reaching crackdown on offshore tax avoidance, targeting many U.S.-based multinational corporations and wealthy individuals.
NY FED CHAIR FACES QUESTIONS ON GOLDMAN ROLE
Late last year, Stephen Friedman sat on Goldman's board and had a large holding in Goldman stock, which because of Goldman's new status as a bank holding company was a violation of Federal Reserve policy.
BUFFETT PLAYS DOWN HOOPLA, HOPE
At an event typically filled with hoopla, Warren Buffett defends a rough year. At his company's shareholder gathering, he holds out little hope in the near term for better results in many of Berkshire Hathaway's businesses.
BANKS GET TOUGHER ON CREDIT LINE PROVISIONS
Banks are shortening the terms on lines of credit that have long been used by companies to avoid cash crunches -- a sign that while lending is reviving, businesses are facing new hurdles to obtaining credit.
US STOCK FUTURES POINT TO HIGHER START
U.S. stock futures point to a higher open for Wall Street, with key housing data and some renewed worries for banks in focus for investors. On Friday, the DJIA advanced 44 points, giving the blue chips a weekly gain of 1.7%.
PEPSI BOTTLING REJECTS BUYOUT PROPOSAL
Pepsi Bottling rejects the nearly $4.2 billion offer from PepsiCo. to buy the remaining two-thirds stake it doesn't already own of its biggest bottler, saying the bid "is grossly inadequate."
INSURANCE FIRMS REJECT TARP FUND USAGE
CEO's of U.S. property-casualty insurance firms reject proposals for the industry to receive federal bailout funds, noting that government bailouts of companies don't coincide with capitalist market philosophy.
CITI SAID TO NEED UP TO $10 BILLION
Citigroup may need to raise as much as $10 billion in new capital, according to people familiar with the matter, as the government continues negotiations with banks over the results of its so-called stress tests.
FIAT SHARES SOAR ON GM TIE-UP PLAN
Fiat shares soar on news that the Turin-based car maker may spin-off its car business from the rest of its operations and merge it with General Motors German unit Opel, traders and analysts say.
AIG NEARS SALE OF HQ IN JAPAN
American International Group is close to selling its Japanese headquarters for about $1 billion, in a deal that would mark one of the largest divestitures the insurance company has made to pay off its government debt, sources say.
======== DOW JONES NEWSWIRES ANALYSIS AND COMMENTARY ========
Morning Briefing
US TREASURYS GO UNTRADED IN ASIA, EUROPE
Treasurys are untraded in Asia or Europe, with Tokyo and London both closed for public holidays. Pending Home Sales And Construction Spending due. Kansas City Fed Pres Hoenig and Richmond Fed Pres Lacker slated to speak.
Week Ahead
ON ALERT FOR TREASURY AUCTION TAILS
With more Treasurys to sell and fewer primary dealers to buy them, the government has found itself paying up at its debt auctions, and this week could see more of the same.
Interview
THAILAND TO EASE FISCAL POLICY RESTRICTIONS
Thailand will shortly pass legislation that allows its government more room to move on fiscal policy, in order to push through the massive infrastructure investments it plans to help pull the country out of its political and economic doldrums.
Focus
GULF COUNCIL TO DECIDE CENTRAL BANK LOCATION
Leaders from the Gulf Cooperation Council will meet Tuesday to decide on the location of a new central bank for the group, a key step in their plan to create a common currency for the oil-rich region. Analysts say that Saudi Arabia and the United Arab Emirates are favorite locations.
============ MARKETS ACTION ============
US TREASURYS WEIGHED DOWN BY SUPPLY WORRIES
US Treasurys are untraded in Asia or Europe, with Tokyo and London closed for public holidays.
US STOCK FUTURES POINT TO HIGHER START
U.S. stock futures point to a higher open for Wall Street.
EURO, AUSSIE RISE AHEAD OF CENTRAL BANK MEETINGS
Euro up against the dollar and the yen, driven by an uptick in risk appetite across global markets.
NY GOLD SEEN UP $3, SILVER UP 10 CENTS
June gold futures are seen opening $3 an ounce higher.
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(END) Dow Jones Newswires
May 04, 2009 08:07 ET (12:07 GMT) | 
