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In This Issue

  • U.P. Health System
  • EAA - Experimental Aircraft Association
  • Housing and New Real Estate Growth
  • The Future of the House of Ludington in Escanaba

Yahoo! Finance: Top Stories

Global concerns may shrink Wall Street's third-quarter estimates
Slowing growth in emerging markets and currency fluctuations in anticipation of a U.S. interest rate hike may push third-quarter revenue and earnings estimates lower this month. Estimates have already fallen for 9 out of 10 of the benchmark index's sectors so far this year, according to Thomson Reuters data. This could happen fairly quickly," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.

U.S. Treasury official: G20 sees need to 'double down' against devaluation
There is a shared belief among the members of the Group of 20 leading economies in the need to "double down" against competitive currency devaluation and avoid it in both policy and language, a senior U.S. Treasury official said on Saturday. Speaking to reporters on the sidelines of the G20 meeting of central bankers and finance ministers in the Turkish capital Ankara, the official said the final communique from the meeting was expected to address competitive devaluation, where countries attempt to drive down a currency to boost exports. "You can make policy decisions that lead to competitive devaluation, (or) you can say things that lead to talking down a currency," the official said.

U.S. labor market shows some muscle despite slower job growth
U.S. job growth slowed in August, but the unemployment rate dropped to a near 7-1/2-year low and wages accelerated, keeping alive prospects of a Federal Reserve interest rate hike later this month. Nonfarm payrolls increased 173,000 last month after an upwardly revised gain of 245,000 in July, the Labor Department said on Friday. August's gain was the smallest in five months as the factory sector lost the most jobs since July 2013.

Piech stopped Winterkorn becoming VW chairman: media
Ousted Volkswagen (VOWG_p.DE) chairman Ferdinand Piech prevented Chief Executive Martin Winterkorn from fulfilling his ambition to become chairman, showing the patriarch's continuing influence behind the scenes, two respected German publications reported. Weekly magazine Spiegel and the Frankfurter Allgemeine Sonntagszeitung said the Porsche-Piech clan, which controls Volkswagen's 51 percent shareholder Porsche SE, had agreed to propose Winterkorn as chairman before Piech's intervention.

Muddled jobs report leaves Fed in a 'jam' watching markets
NEW YORK/RICHMOND, Va. (Reuters) - The latest U.S. jobs report was not definitively good or bad enough to help the Federal Reserve decide whether to raise interest rates later this month, leaving the decision hanging on volatility in financial markets over the next couple of weeks. The economy added 173,000 jobs in August, quite a bit fewer than expected. With global financial markets reeling over the last two weeks over fears of a Chinese economic slowdown, the report is probably the best and last direct reading on the economy before Fed officials consider hiking rates at a Sept. 16-17 meeting.

In Qatar, Venezuela's Maduro pushes for OPEC heads of state summit
Venezuelan President Nicolas Maduro has suggested to the Emir of Qatar a summit for heads of state of OPEC countries to defend oil prices, an idea he said the leader of the Arab Gulf state "liked". "I made the proposal, he liked the idea, he said he was in agreement with the idea, and as president of our organization for summits he will make the necessary consultations," Maduro said in an interview with television channel Telesur on Saturday. The Venezuelan leader, who met with the emir, Sheikh Tamim bin Hamad al-Thani during his visit to OPEC nation Qatar, added he had also suggested non-OPEC countries, which include Russia, take part.

GE set for cost cuts as EU decision on Alstom deal nears
The European Commission has set a Sept. 11 deadline to decide on the roughly $13.5 billion deal, the biggest acquisition ever for GE, which will bring together two of the world’s largest manufacturers of power plant hardware. European regulators have expressed concerns over the combined company's control of the gas turbine market. In May, GE told investors it expects $3 billion in cost reductions over the next five years as it combines its operations with those of Alstom, more than double the previous target when the deal was first announced in April 2014.

Ferrari CEO will not leave post before IPO: Marchionne
Ferrari Chief Executive Amedeo Felisa will not leave his post before the luxury sportscar maker's initial public offering (IPO) planned for later this year, the boss of parent company Fiat Chrysler Automobiles (FCA) said on Saturday. Felisa, who is nearly 70, is planning to retire soon and the listing would be a good time to do so, but no final decision has been made, a source familiar with the matter told Reuters last week. "He (Felisa) will not leave before the IPO and the question of succession is one we have to deal with not only with Felisa but with other key positions inside the group," FCA Chief Executive Sergio Marchionne told journalists on the sidelines of the Italian Formula One Grand Prix in Monza.

Fiat Chrysler U.S. to recall 7,810 SUVs to prevent hacking
Fiat Chrysler Automobiles NV's U.S. arm said on Friday it would recall 7,810 sport utility vehicles in the United States to update software for radios to prevent hacking. The announcement by FCA US LLC, ...

France says debt issuance would be first step for a euro zone budget
A common euro zone budget should initially be funded through joint debt issuance and taxpayers' money should only be used at a later stage, French Economy Minister Emmanuel Macron said on Saturday. France wants the euro zone to have its own joint budget to carry out investments. Macron, in an interview with a German newspaper this week, proposed giving a new commissioner powers to coordinate economic policy across the single currency bloc and preside over fiscal transfers between its 19 members.