Former MF Global Holdings Ltd. Chief Executive Officer Jon Corzine follow his appearance before Congress yesterday with testimony to a U.S. House committee. Zynga Inc. mounts an initial public offering that will probably raise as much as $1 billion.
The Swiss National Bank may comment on its ceiling for the euro against the franc. OPEC will probably retain its oil quota, and Britain releases its report into the near-collapse of Royal Bank of Scotland Group Plc. in 2008. Russia joins the World Trade Organization.
SATURDAY, Dec. 10 2011
--Argentina President Cristina Fernandez de Kirchner is sworn in for a second four-year term. The nation has 24-percent inflation and the highest level of capital flight in a decade. Former Economy Minister Amado Boudou becomes her vice president. 11:00 local time, 9:00 EST
--77th Heisman Trophy will be awarded in New York, recognizing the best player in U.S. college football. 20:00 EST
SUNDAY, Dec. 11 2011
--China’s central bank may release November data on new lending and money supply growth as early as today. Banks likely extended 550 billion yuan ($86 billion) of loans in November and M2 money supply probably increased 12.8 percent, according to the median of 28 economists’ estimates compiled by Bloomberg.
--Senior Chinese leaders including President Hu Jintao and Premier Wen Jiabao gather as early as today to discuss economic policies for the next year.
MONDAY, Dec. 12 2011
--U.S. Congress may wrap up a new spending bill as soon as today before a stopgap appropriations law expires on Dec. 16. The U.S. House of Representatives could vote as early as today on legislation to extend a cut in employees’ payroll taxes for a year.
--U.K. government releases its report on the near collapse of Royal Bank of Scotland Group Plc during the 2008 financial crisis. The Financial Services Authority is likely to find regulatory failings and also criticize the bank’s former management. 06:00 GMT (01:00 EST). In London.
--Greece holds talks with representatives of private-sector creditors in Athens about a bond swap aimed at halving the nation’s debt obligations to them.
--U.S. House may vote as early as today on legislation to extend a cut in employees’ payroll taxes for one year.
--Iraqi Prime Minister Nouri al-Maliki meets with President Obama at the White House as U.S. troops prepare to withdraw from Iraq by year-end.
--Occupy Wall Street protesters attempt to shut down U.S. West Coast ports from San Diego to Seattle for 12 hours, possibly affecting Los Angeles, the nation’s biggest port. From 06:00 local time (09:00 EST).
--Economy: Indian October industrial production.
TUESDAY, Dec. 13 2011
--U.S. Federal Reserve will probably maintain policy of zero rates until mid-2013 at its meeting today. The formal statement may be more positive about economy after recent indicators exceeded forecasts. 14:15 EST.
--U.S. November retail sales will give investors a clearer picture of how much consumers spent on Black Friday, the day after Thanksgiving that marks the traditional start of holiday shopping, and provide an indicator of seasonal sales. 08:30 EST.
--Volcker Rule’s ban on proprietary trading will be scrutinized at a joint hearing of two U.S. House financial committees.
--Jerry Sandusky allegations scrutinized as Pennsylvania judge hears evidence on whether the former Penn State football coach should be tried for sexual abuse of minors. Several alleged victims may testify. 08:00 EST today and tomorrow in State College, Pennsylvania.
--Elizabeth Taylor’s gems valued at an estimated $30 million are sold at a two-day Christie’s auction in New York.
--Earnings: Best Buy fiscal third quarter.
WEDNESDAY, Dec. 14 2011
--OPEC oil ministers are likely to leave their 24.8 million barrel-a-day output quota unchanged when they meet in Vienna as Libyan production recovers following its civil conflict. The group’s last meeting in June was the first time in at least 20 years that it had failed to reach an agreement on production.
--Apple Inc.’s claims that HTC Corp. smartphones violate the U.S. company’s iPhone patents will be ruled on by the International Trade Commission. An HTC defeat could lead to a U.S. ban on imports of its Android phones.
--Deadline for Olympus Corp., which admitted covering up losses, to report restated earnings as it faces possible delisting from Tokyo Stock Exchange. 15:00 Tokyo (12/13 01:00 EST). The company will meet with lenders in Tokyo in Friday, two people familiar with the matter have said.
--Egyptian parliamentary elections, second stage of voting. Citizens go to the polls in nine provinces, including Giza, Aswan and Suez. The Muslim Brotherhood’s Freedom & Justice party took 37 percent of the vote in the first stage.
--German Finance Minister Wolfgang Schaeuble and Bundesbank President Jens Weidmann speak in Berlin on the occasion of the 10th anniversary of the introduction of euro notes and coins. 13:30 GMT.
--Swiss Parliament elects a new government. In Bern.
--Four JPMorgan Chase & Co. executives host a fundraiser for Republican Presidential candidate Mitt Romney at the Waldorf Astoria in New York.
THURSDAY, DEC. 15 2011
--Bank of Japan releases quarterly Tankan survey of business confidence, offering a gauge of the effect an appreciating currency and Europe’s debt crisis have wrought on corporate expectations for 2012. 08:50 Tokyo (12/14 18:50 EST).
--Swiss National Bank interest-rate decision. The benchmark rate is near zero. The SNB might announce changes to its ceiling on the value of the euro against the franc, currently at CHF1.20. 08:30 GMT (03:30 EST).
--Chow Tai Fook Jewelry Group Ltd. starts trading in Hong Kong after an IPO that raised $2 billion, one of the city’s biggest this year. Market opens 09:30 local time. (12/14 20:30 EST).
--Zynga Inc. is likely to raise as much as $1 billion in an initial public offering of the online game maker. To trade on Nasdaq.
--ECB President Mario Draghi speaks at INSM Foundation event in Berlin on the social market economy. 11:00 GMT. (06:00 EST).
--Former MF Global CEO Corzine is scheduled to testify before U.S. House Financial Services Oversight and Investigations Subcommittee. Hearing will probe events leading to MF Global’s bankruptcy, effectiveness of regulators and impact on customers.
--Republican U.S. Presidential candidates, including Newt Gingrich and Mitt Romney, debate in Sioux City, Iowa. 21:00 EST.
--Economy: HSBC/Markit Economics China December purchasing managers’ index; -U.S. weekly jobless claims; -U.S. producer prices; -U.S. industrial production.
--Earnings: FedEx, Research in Motion.
FRIDAY, DEC. 16 2011
--Reserve Bank of India likely to leave its benchmark repurchase rate unchanged at 8.5 percent as a slump in the rupee limits policy makers’ scope to respond to slowing economic growth. Result at 12:00 Mumbai (12/15 01:30 EST).
--Russia joins the World Trade Organization. The world’s biggest energy exporter is set to receive the final approval to join the WTO after 18 years of negotiations. Joining the WTO should drive bigger investment inflows, trade and higher competition. It may improve Russia’s credit rating. From 14:30 GMT (09:30 EST). In Geneva.
--Barry Bonds, U.S. major league baseball’s career home-run leader, sentenced in San Francisco for obstructing justice in his answer to a question on steroids before a U.S. grand jury. 11:00 local (14:00 EST)
--Economy: U.S. November consumer price index. 08:30 EST.
--Earnings: General Mills Inc.
SATURDAY, Dec. 17 2011
--Super Saturday, traditionally the second-biggest shopping day in U.S. Nationwide sales were $7.58 billion last year, according to ShopperTrak.
SOMETIME IN WEEK
--International Business Machines Corp. will reach a settlement with European Union antitrust regulators next week to end a probe into mainframe software, according to two people familiar with the matter. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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