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go way beyond Greece (need reorg of banking system) South African economic growth accelerated to an annualized 4.8% in Ql (median estimate +4.2%) Volkswagen confirms terms of MAN takeover bid to form truckmaking tie-up to Scania (bids €95/share) German retail sales rose in April as unemployment fell bel
FOE (buy) Key Research: Atlantic upgrades MOS, JPM downgrades SMG, Janney upgrades CRAI (buy), Piper upgrades RDN Key Research: JPM upgrades NVTL, Jefferies upgrades FST (buy), Bofa reinstates ADI (buy), Auriga assumes NVDA (buy) Key Research: Bofa upgrades AAT/FRT/TCO (buys) & downgrades DDR/KIM/REG R
put +3.3% versus estimate +6.2%) Toyota debt cut by Fitch to A from A+ with stable outlook (prolonged inherent structural weakness) Suzuki to ask Volkswagen to sell its Suzuki shares back (ending 20-month alliance with carmaker) Foster's board unanimously rejects SABMiller's A$4.7675/share ex-dividend o
ades DGIT Key Research: GS adds ORCL to conviction buy list & downgrades IPI (sell) / DAR & upgrades AGU/MOS/SAFM Key Research: HSBC upgrades VIP, Jefferies downgrades CALP, Merriman upgrades GCOM (buy) Key Research: MM Warburg downgrades PUM.GR & PAH3.GR, SocGen upgrades KGF.LN, Piper initiates IPHI (o
trading strong, CT1 okay (trading -1%) • EADS H1 revs, EBIT & net income ahead, reaffirms FY guidance, increases Airbus orders (trading +2.3%) • Volkswagen H1 sales & pretax slight better, PBT beat, solid FCF, China growth, confirms guidance (trading +1.2%) • Diageo FY prelims, revs ahead, op profit &
s below — SIMG topped Secondaries (announced/priced): NLCH, TRS, STNG, BCRX, CUZ, FER SM IPO's: N/A US Key Research: ••• Atlantic downgrades XYL, Jefferies downgrades OPTR, Wells cuts NVDA/ROK & upgrades TVL ••• BMO cuts DCI, RBC upgrades GGP, SunTrust initiates GDP (buy), Evercore upgrades WU • JPM up
Entities connected to both Volkswagen and Jefferies

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Jeffrey Epstein
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Marc Rich
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Colorado
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Michael Cohen
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Prince Andrew
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William Barr
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Denver
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Fidelity
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Kirkland
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George W. Bush
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Justin Trudeau
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Julie K. Brown
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Bloomberg L.P.
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Wilbur Ross
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Lesley Groff
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Adam Sandler
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