October 19Th International Financial Media Headlines

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CNNMnoey: Bank of America restarts the redemption procedures of 23 state houses

The Bank of America said on Monday that it decided to restart the redemption procedures for the 23 states after a study of 102000 US foreclosures in 23 states.

Earlier, the federal regulatory authorities ordered the tracing of the contents of lenders as they might submit incomplete documents when they recovered the houses.

The Bank of America suspended the housing foreclosure process in 50 states.

On Friday, DanFrahm, a spokesman for the US bank, said that the Bank of America will investigate all the recognizance books in 23 states which have not yet ruled the case. The courts of these states have jurisdiction over the confiscation of houses.

Hundreds of thousands of documents are expected to be investigated, and the whole process will take several days to weeks.

Bank of America said that the first written submission will be submitted before October 25th of this year, and the remaining 27 states will be assessed for redemption.

New York Times: Citigroup's net profit in the three quarter was US $2 billion 170 million.

Citigroup announced on Monday that the third quarter of the fiscal year reported that the net profit of the company was $2 billion 170 million in the quarter, which was much better than expected, while the quarterly revenue dropped to $20 billion 740 million, down from $23 billion 140 million a year ago.

According to the company's earnings report, Citigroup's credit losses in the third quarter were reduced to $5 billion 920 million in the fiscal year, which was $9 billion 100 million in the same period last year and $6 billion 670 million in the second quarter of fiscal 2010.

Bloomberg: Brazil raised the securities tax of foreign investors for the second time this month

Brazil announced on Tuesday that it would raise the tax rate for foreign investors to invest in fixed income securities in Brazil again, the second time since October.

Brazil finance minister Mantega (Guido Mantega) said that the IOF tax rate for overseas funds will rise to 6% from the previous 4%, while Morgan said that those countries that are trying to protect the export industry must stop the currency war.

The Brazil government recently adjusted the tax rate on overseas securities investors continuously, mainly in order to reduce speculative behavior of overseas hot money for short-term investment in Brazil, and limit the continued inflow of US dollars to avoid the appreciation of Brazil's domestic currency.

In the past three months, Brazil's real has risen by 7.1%.

YAHOO Finance: Johnson once again announced the recall of Tylenol

Johnson announced on Monday that it will recall the company again because some consumers developed nausea and vomiting after taking Tylenol tablets or smelling the bottles.

A Johnson spokesman said the company's McNeil Consumer Healthcare business received complaints from a small number of consumers.

The consumers said they had nausea, stomachache, diarrhea and vomiting after taking Tylenol tablets.

This is the thirteenth consecutive recall of Johnson in nearly a year.

Johnson's OTC drugs, contact lenses, blood sugar test strips and other products had caused serious problems, and the company was forced to recall all of them.

In addition, this is the fifth time Johnson has recalls because consumers are not suited to the odors emitted by the drug.

Nikkei news: TOYOTA vows to maintain its capacity in Japan

Toyota Auto Body Co President Akiotoyoda said on Monday that although the yen is rising against the US dollar, Toyota Auto Body Co has not considered pferring the company's capacity to overseas.

"We will unswervingly continue to produce TOYOTA products in Japan," he said.

In his speech, Akiotoyoda also called on the Japanese government to give priority to the automotive industry when formulating its domestic growth strategy.

He pointed out that "TOYOTA automobile is a global enterprise rooted in Japan, and the automobile industry also covers a wide range of commercial areas."

He said Japan is facing major problems of maintaining domestic production.

He stressed that "unless we are in a more extreme case, we will not easily pfer production to Japan."

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Financial Times: US dollar depreciation. The Bank of Korea wants to increase gold holdings.

The Bank of Korea said on Monday that the bank was considering diversifying its holdings of gold to diversify its US dollar portfolio. The bank said it would be cautious about making the final decision.

The ROK is the fifth largest foreign exchange reserve in the world.

Even the South Korean Central Bank's little adjustment to reserves will have a strong bullish impact on the gold market.

The Central Bank of Korea has only 14 tons of gold reserves, accounting for only 0.2% of its total reserves of $290 billion, and the world's largest economy with the least gold.

According to the statistics of the world gold association, the average ratio of gold reserves in the world is 10%, while the proportion of gold reserves to the United States, Germany and France even exceeds 50% of the total reserves.

Reuters: Gates Microsoft successor will retire

Microsoft Corp announced on Monday that its chief software architect, Ray Ozzie, will accept an entertainment department and then retire from the job.

Prior to this, Aoki as Microsoft founder Bill Gates successor took the post of chief software architect, and his retirement also means that Microsoft will turn to the Internet as the core development direction.

Analysts believe that the adjustment of Aoqi's work reflects two aspects.

First of all, Microsoft will enter a new R & D stage with cloud computing as its core. Secondly, Microsoft has gradually increased its concern about entertainment business. At present, the company's business has been catching up with competitors such as Apple Corp and Google Corporation.

CNBC: Buffett said frankly that buying Berkshire is a big mistake.

On Monday, Buffett answered CNBC's famous host Becky Quick's question about what the biggest mistake she thought was made in the Squawk Box program for the world's most successful investors. He said frankly that the most stupid decision in his investment was to buy shares in Berkhire Hathaway Inc.

Buffett said his decision to buy Berkshire Hathaway, who was then a bankrupt textile company in 1964, was a big mistake of "$200 billion".

Buffett told Becky that the value of the company he invested in has reached two times that of the original. If he bought Berkshire Hathaway but a well performing insurance company, its value might have reached $400 billion.

MarketWatch: WAL-MART intends to issue $50 billion bond

Wal-Mart Store Inc plans to sell $50 billion of corporate bonds on Monday. Fitch Ratings is rated "AA".

According to Informa Global Markets, WAL-MART will sell bonds for 3 years, 5 years, 10 years and 30 years.

Ken Jaques, an analyst at Informa, said: "because interest rates are still at or near the lowest level in history, the spread of spreads is still very narrow, and market conditions are close to the ideal level of large number of bonds issued."

India times: the largest IPO in India's history has been subscribed for 32.5%.

According to the India securities and exchange center data, about 32.5% of the total initial public offerings of the state-owned India coal company, which is currently under way, has been subscribed on Monday afternoon local time.

Data show that the stock offering plan has sold 63 million 160 thousand shares, and 20 million 500 thousand of them have already received bidding quotations.

According to the report, according to the past public offerings in India, large public offerings usually get a large number of bidding during the last period of subscription period.

The institutional subscription of India coal shares will end on Wednesday local time, and the subscription period for retail investors will end on Thursday.