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Financial News Network
September 24, 2012 AT 6:27 PM
Good Morning! You are watching The Financial News Network on FNNO.com, I'm Geoffrey Parrish and here is what's in the news this morning, September 24th, 2012. According to the Wall Street Journal, as 2012 heads to Q4, money managers who caught the year's rally are sitting on percentage gains well into the double-digits on stocks. As they look ahead to what could be a choppy few months, some are considering staying on the sidelines for the rest of the year. Also, Toyota (TM) plans to roll out 21 new models powered by electric-gas engines over the next few years and predicted strong sales. Reuters reports that the Chinese ambassador to Canada warned against letting domestic politics drive the Canadian government's decision on whether to approve a Cnooc's (CEO) proposed $15.1B takeover of Nexen (NXY). And the Euro zone states are preparing to allow the bloc's permanent bailout fund to leverage its capital in the same way as its predecessor so it can reach a capacity of more than 2 trillion euros and rescue big countries if necessary, according to Der Spiegel. Bloomberg reports Ford (F) employees, represented by the Canadian Auto Workers, ratified a four-year contract that eliminates most cost-of-living raises in favor of bonuses, extends the time it takes for a new employee to reach full pay, and adds 600 jobs. Finally, Bloomberg also reports that French oil company Total (TOT) plans to sell up to $20B in assets to raise cash for oil and gas projects. This is what's been in the news this morning. For more updates on this and other stories, please follow us on twitter @fnnonline or check us out on the web at FNNO.com