Happy Wednesday everyone. It's September Federal Open Market Committee meeting eve today! The picture’s been complicated by the recent market turbulence that may see the central bank hold off on raising rates. Many investors are hesitant to make big trades ahead of the decision, and U.S. economic data published yesterday did little to show which way the Fed will swing. While raising rates will almost certainly send waves through the markets, not moving will likely keep the guessing game - and accompanying stock gyrations - alive for weeks to come. U.S. futures are cautious on the upcoming decision. (Seeking Alpha)
On the brink of a historic break-up, Hewlett-Packard disclosed yesterday that it is planning to slash up to 30,000 more jobs to put its new enterprise business on stronger footing as a standalone company. The cuts come on top of 54,000 jobs that have already gone over the past three years since chief executive Meg Whitman took the helm. (FT)
Forget 10 Barrel, Anheuser-Busch has its sights on bigger prey these days. In developing news this morning, Anheuser-Busch InBev said it had approached SABMiller about a takeover, paving the way for a deal that would likely value SABMiller well in excess of its $75 billion market capitalization, and create a brewing giant that would dominate much of the global beer market. AB InBev and SABMiller are the world’s two largest brewing companies, and a combination would trigger an intense antitrust review around the world. There’s been no formal offer yet, as the companies hope to continue a “friendly dialogue”.