Greece's Year of Tumult Enters New Chapter as Tsipras Dominates (Bloomberg)
Alexis Tsipras and his Coalition of the Radical Left, or Syriza, emerged from a second election in eight months with a level of support barely diminished from the emphatic victory that catapulted him both into power and a standoff with the euro region. Syriza, which took 35.5 percent of the vote versus 28.1 percent for the center-right New Democracy, will enter a coalition with the same small party that helped it rule before.
Goldman breaking into competitive ETF market with launch of first fund (Reuters)
Goldman Sachs Group Inc said on Monday it was launching its first ever exchange traded fund, as the bank tries to break into the lucrative and highly competitive $3 trillion market for ETFs. The fund, focused on large U.S. companies, follows a so-called "ActiveBeta" strategy which tries to outperform a traditional market-cap weighted index by looking at factors like volatility and momentum.
The New Bond Market: How One Manager Doubles Down on Danger (WSJ)
When oil prices collapsed late last year, the $83 billion Franklin Income Fund suffered mightily, losing more than $2 billion on its energy-company investments. Ed Perks responded as portfolio managers at Franklin Templeton often do: He doubled down, purchasing $2 billion more of energy-sector junk bonds. So far, the trade is a bust. Stock and bond prices declined further this summer as oil dropped. In August, fund investors pulled out about $1.47 billion, the biggest departure in the fund’s 67-year history save for October 2008.
BofA’s Moynihan expects to survive chairman vote (NYP)
Betting money has it that the head of the nation’s No. 2 bank will retain the chairman title, but will be weakened following the tough fight to keep it. Moynihan is telling people close to him that he expects to succeed in his effort to retain his chairman and CEO roles at a critical shareholder vote on Tuesday.
Tourist Dies At The Taj Mahal After Falling While Taking A Selfie (HP)
A tourist reportedly died after falling down a staircase at the Taj Mahal while trying to take a selfie. The tourist, identified as Hideto Ueda, a 66-year-old Japanese national, was trying to snap a photo at the mausoleum's Royal Gate when he and a friend both fell, according to the BBC, which cited an eyewitness.
India's Billionaires Want Their Own Airport (Bloomberg)
The group, the Business Aircraft Operators Association, is lobbying the government to turn an airport about 137 kilometers (85 miles) from the financial capital Mumbai into the country’s first airfield exclusively for business planes. It’s currently used by state-run Hindustan Aeronautics Ltd. for military aircraft.
Treasuries Fall as Fed Officials Signal Probable 2015 Rate Boost (Bloomberg)
Treasuries declined, halting two days of gains, as Federal Reserve policy makers including San Francisco Fed President John Williams laid out the case for an interest-rate increase this year after leaving the benchmark unchanged last week.
Time Warner shareholders approve deal with Charter (Reuters)
Time Warner Inc's shareholders approved the company's $56 billion takeover by Charter Communications Inc, according to preliminary votes at a special shareholder meeting. Charter said in May that it would buy Time Warner Cable in a cash-and-stock deal that would make Charter the No. 2 U.S. Internet and cable company after Comcast Corp.
Police: Man made hoax 911 call to escape traffic ticket (UPI)
The Gresham Police Department said Salvador Sanchez-Buenrostro, 42, was pulled over for a traffic violation about 12:55 a.m. Thursday and the officer soon discovered the motorist was driving with a suspended license. The officer returned to the patrol vehicle to write a citation, and allegedly used the opportunity to call 911 and file a false report of a nearby shooting in an apparent attempt to draw the officer's attention elsewhere. Police said Sanchez-Buenrostro gave the dispatcher a fake name, but the call was traced to the location of the traffic stop and the phone number was matched to the motorist's cellphone. Sanchez-Buenrostro later admitted to making the false report, police said.