The charges against US bank, Goldman Sachs will dominate markets this week (and the bank is due to release its quarterly profit tomorrow night).
And there will be more talks on Greece’s problematic debt position.
Takeover battles in Australia for Macarthur Coal and AXA Asia Pacific could very well be decided this week.
And Seven Network shareholders are expected approve the merger with Westrac tomorrow, giving Kerry Stokes a controlling 67.9% stake in the new company, Seven Group Holdings.
Unless there’s a late minute hitch, the fate of the multi-billion dollar bids for AXA Asia Pacific Holdings from the AMP and the National Australia Bank will be made known this week when the competition regulator, the ACCC is expected to rule on each of the offers.
Late last month, the Commission postponed a decision on the AMP’s offer, which could have ended the whole battle, and made the decision on the NAB offer on April 22 redundant.
In a statement the Commission said it had deferred the decision and was "continuing to receive relevant information and will make a decision as soon as all relevant information has been considered.
"It is anticipated the ACCC will make a decision no later than 22 April 2010" (this Thursday).
Besides this deal, the fate of Macarthur Coal could be clearer after it postponed the shareholder meeting due for today and decided to talk to Peabody Energy.
We will also get the usual flow of quarterly production reports, led by BHP Billiton on Wednesday.
Others due to report will include Woodside (which will now report in US dollars) and Santos.
The Minutes from the Reserve Bank’s board meeting at the start of the month will be released tomorrow.
And there will be a speech by Governor Glenn Stevens on Thursday in Queensland.
We may get a better idea of the likelihood of further interest rate increases and their relationship to the central bank’s view of what the longer term average level for rates is, given the current strengthening conditions in the economy at the moment.
Figures for skilled vacancies, car sales and import and export prices will be released.
After Singapore tightened monetary policy last week by pushing up the value of the dollar, attention will turn to India where the Reserve Bank meets tomorrow and is expected to push rates up for a second time in just over a month.
Economists expected rates to rise to 4% (up 0.25%).
China tightened its controls on the booming housing sector late last week. Will another lift in the reserve asset ratio or a rate rise be the next step in coming weeks?
In the US the earnings season is now in full swing.
Around 120 of the Standard & Poor’s 500 companies are due to release first quarter figures.
These include 11 of the 30 Dow companies as well, so a big week.
Reporting companies include IBM and Microsoft, Citigroup, Goldman Sachs, Morgan Stanley and insurer, The Travelers Cos Inc.
After last week’s results and the mixed reception for the likes of Bank of America, Google and Alcoa, there’s likely to be a bit less enthusiasm for every result.
But they will also be judged via the uncertainty generated by the charges against Goldman Sachs.
US producer price data is likely to confirm that inflationary pressures remain benign and durable goods data for March is likely to show a continuing recovery.
US home sales data for March are likely to have strengthened after the snowstorm-related weakness seen in February.
That’s what happened to new home starts and permits in March, according to figures out last week.
Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner will testify before Congress on Tuesday on the 2008 collapse of Lehman Brothers at the peak of the financial crisis.
The two, along with Securities and Exchange Commission Chairman Mary Schapiro and former Lehman Chairman Richard Fuld will appear before the US House of Representatives Financial Services Committee.
This is expected to see the charges against Goldman Sachs raised and the investigation into the collapse of Lehman Brothers.
