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What's In The News: September 11, 2012

Financial News Network
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September 24, 2012 AT 2:54 PM
From Fnno.com, This is the financial news network. Here's what's in the news for Tuesday September 11, 2012. The Wall Street Journal reports Apple's (NASDAQ:AAPL) new iPhone will likely break previous sales records. It also may prove the moment to dump the shares. The Wall Street Journal also reports Chrysler Group LLC (PINK:FIATY) showed dealers over six new models due to arrive over the next 18 months as part of phase two of CEO Sergio Marchionne's turnaround plan. Reuters reports Qatar, Xstrata's (PINK:XSRAY) second biggest investor, has held back immediate support for Glencore's increased bid for the miner, despite an apparent rapprochement last week, saying in a rare statement today it was still considering its position. Reuters also reports Nokia Siemens Networks (NOK, SI) is in talks with several companies to sell its business support systems unit, CEO Rajeev Suri said. Bloomberg reports JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC) are helping clients find an extra $2.6T to back derivatives trades amid signs that a shortage of quality collateral will erode efforts to safeguard the financial system. Finally, Bloomberg also reports oil traded near the highest close in nearly three weeks in New York amid speculation the U.S. will add to measures to revive its economy, countering concern that Europe's bailout plan will falter. The Fed begins a two-day meeting tomorrow where it may announce stimulus measures. For more financial news and analysis follow us on Twitter @FNNOnline or check out our website at fnno.com.