Moody's Warns on Portuguese Debt (NY Times via Reuters) "Moody's Investor Service warned on Tuesday it may downgrade debt-ridden Portugal's A1 rating by one or two notches after a review that will take up to three months, citing weak growth prospects and high borrowing costs. Portugal has moved into the eye of the storm in Europe's debt crisis, with markets worried it will be next to take a bailout after Ireland and Greece, although Moody's said its solvency was not in question. The cost of insuring Portuguese sovereign debt against default rose in response and the euro slipped a touch."
TD-Bank Agrees to Buy Chrysler Financial for $6.3 Billion (CNBC via Reuters) "Toronto-Dominion Bank has agreed to buy Chrysler Financial from private equity firm Cerberus Capital Management for $6.3 billion, making Canada's No. 2 bank one of North America's top five bank-owned auto lenders. TD said Tuesday the purchase consists of net assets of $5.9 billion and about $400 million in goodwill. The bank does not intend to issue common equity in connection with the deal. Under the terms of the agreement, TD's U.S. unit — TD Bank — will acquire Chrysler Financial in the United States, and TD will acquire Chrysler Financial in Canada."
Controversial 'Net Neutrality' Rules About to Pass FCC (Wall Street Journal) "The top communications regulator won support to pass contentious new rules for Internet traffic, a move likely to face legal challenges and create uncertainty about Internet regulation. The Federal Communications Commission is set to approve on Tuesday Chairman Julius Genachowski's proposed rules governing net neutrality—a concept aimed at preventing Internet providers from interfering with web traffic. The rules are expected to bar providers from discriminating against legal Internet traffic and require more transparency. They also would let broadband providers for the first time charge more to companies that want faster service for delivery of games, videos or other services."
Investor Desires: Perspectives from Behavioral Economics (Reuters) "Behavioral Finance expert Meir Statman has cast his skeptical eye on the world of individual investors and finds we invest just like we shop for a car or sunglasses — some of us are bargain conscious, some are looking for a chance to show off. In an edited version of an interview with Portfolioist editor Nanette Byrnes, the Santa Clara University professor talks about the ideas behind his new book What Investors Really Want."
"Futures Up as Korean Tensions Ease" (Wall Street Journal) "U.S. stock futures were pointing to a higher start for Wall Street on Tuesday, as tensions eased on the Korean Peninsula and European and Asian markets rose. Futures for the Dow Jones Industrial Average rose 34 points, or 0.3%, to 11438 while those for the S&P 500 index rose 4.5 points, or 0.4%, to 1245.70. Futures for the Nasdaq 100 index rose 6 points, or 0.3%, to 2226.25. Wall Street is expected to carry on from a mostly positive prior session, lifted by Asian markets. Also helping sentiment, China's Vice Premier Wang Qishan said China is ready to lend a hand in abating Europe's sovereign-debt worries."
Bomb Found on Subway Car in Rome (AGI) "According to ATAC transport body, at around 10 today an official found an explosive device on a subway carriage. The train was in a docking station belonging to the "B" line toward Rebibbia terminus at the time the device was identified. Police and firemen cordoned off the area in order to assess the bomb's damage potential"