Huawei Fires Back at the U.S./WSJ – Siobhan Gorman & Juro Osawa: “Chinese telecommunications giant Huawei Technologies Inc. lashed out Monday at a scathing congressional report, calling allegations that it may be spying on Americans and violating U.S. laws "little more than an exercise in China-bashing."
Athens Prepares for Visit By Merkel/WSJ – Philip Pangalos & James Angelos: “The Greek capital was bracing for a security clampdown as Prime Minister Antonis Samaras prepared to welcome German Chancellor Angela Merkel on Tuesday on her first visit to Athens since the debt crisis began. In a sign of the reception Ms. Merkel is likely to receive on her seven-hour stopover in the Greek capital, several thousand demonstrators gathered in the city's main Syntagma Square on Monday evening, blaring revolutionary music from loudspeakers and holding banners decrying planned government austerity measures, which many Greeks blame on Ms. Merkel. One banner, modeled on the German flag and written in German, read: "Angela don't cry. There is nothing left in the larder to take."
IMF Slashes Forecasts for Global Economic Growth/CNBC – Justin Menza: "The global economy continues to weaken but how long the slowdown persists will depend on whether U.S. and European policymakers address underlying economic challenges, the International Monetary Fund said in a report on Monday. … Much will depend on whether European and U.S. policymakers deal with their major short-term economic challenges, the IMF noted. With the European crisis deepening, U.S. economic growth sluggish and domestic demand faltering in emerging markets, the IMF has trimmed its 2012 and 2013 global growth forecasts."
Mysterious Algorithm Was 4% of Trading Activity Last Week/CNBC – John Melloy: “A single mysterious computer program that placed orders — and then subsequently canceled them — made up 4 percent of all quote traffic in the U.S. stock market last week, according to the top tracker of high-frequency trading activity. The motive of the algorithm is still unclear. The program placed orders in 25-millisecond bursts involving about 500 stocks, according to Nanex, a market data firm. The algorithm never executed a single trade, and it abruptly ended at about 10:30 a.m. Friday. “Just goes to show you how just one person can have such an outsized impact on the market,” said Eric Hunsader, head of Nanex and the No. 1 detector of trading anomalies watching Wall Street today. “Exchanges are just not monitoring it.”
FANNY 911/America’s butts are plaguing emergency responders with mistaken calls/The Daily: “In the last 10 years, the near-universal adoption of cellphones and smartphones has caused the number of accidental 911 calls — also known as fat-finger dials or butt dials — to skyrocket. For every 100 calls made to 911 this year in the U.S., roughly 40 of them were accidental, Andrew Reece — president of Winbourne Consulting, which works to improve 911 call centers — told The Daily. This is out of a huge total: in 2010, Americans placed a total of 240 million 911 calls — an increase of 26 percent over 1999. That translates to about 100 million illegitimate 911 calls last year alone — or one for every three Americans.”
Question: What Boston institution has the phone #617-266-1492 and why?
Answer: Boston’s Symphony Hall.
From a BSO press release (via Boston Globe): “In 1900, while the building was under construction, the Boston Pops took up residence at Mechanics Hall on Huntington Avenue (this building was leveled in the early 60s to build the Prudential Center). The orchestra set up a box office phone line, and according to the April 29 Globe: ‘reserved seats, either at tables or in the balcony, can be secured by telephoning to the special telephone, 1492 Back Bay.’ The reason, of course, was old-school marketing. Everyone remembers the year of Columbus’ transatlantic trek, so now Bostonians would know the direct line to the Boston Pops by default.”
7:30 Sep NFIB
1300 3-Yr Note Auction
After the Bell:
Alcoa, Chevron INTERIM, Yum! Brands
Kenneth Langone, Invemed Associates Chairman (700a)
Donald Trump, Trump Organization Chairman (730a)
Nigel Farage, UK Independence Party Leader (810a)
Randy Smallwood, Silver Wheaton CEO (100p)
Aaron Levie, Box.com Founder (130p)
Alice Rivlin, Brookings Sr Fellow (200p)
Thomas DiNapoli, New York State Comptroller (330p)
Bill Nichols, Cantor Fitzgerald Co-Head of US Equities Trading (340p)
Klaus Kleinfeld, Alcoa CEO (400p)
Glenn Hutchins, Silver Lake Co-CEO (410p)
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