10 Things You Need To Know Before The Opening Bell, August 29, 2011

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Monday, August 29, 2011 Advertisement Good morning. Here's what you need to know. Asian indices were mostly up in overnight trading with the Bombay Stock Exchange up 3.58%. Europe is trading higher and U.S. futures point to a strong open. China has increased its reserve requirements in a move to control liquidity and inflation. New reserve requirements are expected to remove $140 billion from the banking system over the next six months. The Shanghai Composite fell 1.37%. Now here are 18 facts about China that will blow your mind > Over the weekend European officials criticized Christine Lagarde for her 'confused and misguided' attack on the health of Europe's banks. Lagarde had called for an "urgent recapitalization" of Europe's weakest lenders. Meanwhile, ECB president Jean-Claude Trichet and Euro Group president Jean-Claude Juncker and EU 's Olli Rehn are testifying in front of the EU parliament today, over the euro area debt crisis. Check out the most miserable countries in Europe > UK home prices fell for a fourth month in August, with the average cost of a home falling 0.1% from July, and down 3.7% from a year ago. Demand for homes is expected to fall further this year because of pressure on household incomes and weak consumer sentiment. Personal income and outlays for July will be released at 8:30 AM ET. Consensus is for a 0.3% month-over-month change in personal income and 0.5% month-over-month change in consumer spending. Pending home sales index for July will be released at 10 AM ET. Consensus is for -1% month-over-month change in the index. Follow the release at Money Game > Anglo Irish sold its $9.5 billion pool of U.S. commercial real estate loans to Wells Fargo & Co., JPMorgan Chase & Co. and Lone Star Funds. The sale attracted over two dozen buyers and the total price paid for the loans was between $7 billion - $8 billion. Japan's finance minister Yoshihiko Noda was chosen to become Japan's new prime minister today. Democratic Party of Japan lawmakers voted 215 to 177 in favor of Noda who beat trade minister Banri Kaieda. Noda will be Japan's sixth prime minister in five years. Italy will raise money in the bond market this week without support from the European Central Bank which has been buying Italian debt for three weeks. Italy will try to raise €3.75 billion of 10-year securities and €4.25  billion of bonds that mature in 2014 and 2018. Don't miss: The sad story of how Italy got to be such a wreck > Two Greek banks, Eurobank Ergasias and Alpha Bank, will consolidate in order to tackle funding and debt challenges, and avoid borrowing from the emergency liquidity assistance the Bank of Greece made available last week. The two banks will also receive a capital injection from the Qatar Investment Authority. Hurricane Irene was downgraded to a tropical-storm but left parts of the east coast devastated. It has already killed 21 victims in eight states, and left millions without power and is expected to move to Canada today. BONUS - Beyonce Knowles is pregnant with her first child. Please follow Money Game on Twitter and Facebook. Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.wyldside@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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