WSJ Tuesday, December 16, 2008
--- German industrial conglomerate Siemens AG pleaded guilty on Monday to severeal charges of international corruption related to a long-running bribery-for-business investigation. The company will pay $800 million in criminal and civil fines after admitting it paid bribes to government officials around the globe.
--- Yen will be boosted and USD weakened thanks to the Fed expected rate cut. Many economists expect the Fed to cut its policy rate by half a percentage point to 0.5% while BOJ policy rate is 0.3%. The move could deter japanese investment in the U.S.
---- Asian stocks rose braodly led by Tosho(東証- Tokyo Stock Exchange）'s 5.2% gain due to the announcement by the Bush administration that it will not let the big 3 fall mainly leads to the expectectation that the Fed will cut rate steeply.
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