What’s In The News: May 4, 2012

Friday may 4th. The WALL STREET JOURNAL reports Goldman Sachs (GS) will introduce a bond trading platform where it will charge lower fees than on typical bond trades, sources say, to help keep customers looking at trading venues being set up by BlackRock (BLK) and other companies. PepsiCo (PEP) is bringing back Michael Jackson to try to pump up its flagship cola, three years after the singer’s death. In a deal with Jackson’s estate, the company says it will roll out 1Bill Pepsi cans with a silhouette of the king of pop. Reuters released that China agreed to increase the limit on foreign ownership in domestic joint venture securities firms to 49%, allowing these brokerages to trade commodities and financial futures. Reuters also reports this morning that United Airlines (UAL) is planning an order for at least 100 Boeing (BA) 737 narrow body jets potentially worth $10B at list prices. Bloomberg reports that oil slid to its lowest level in over three weeks, heading for a weekly decline before the monthly U.S. jobs report. After services and manufacturing output in the euro region fell more than expected, Bloomberg also reports that Norway”s sovereign wealth fund sold all its Irish and Portuguese government bonds after rejecting the Greek debt swap, warning that Europe faces considerable challenges.

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