【Wall Street Breakfast: Must-Know News】

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U.S.: Syria could avoid action by handing over chemical weapons. John Kerry has said Syria could avert military strikes by giving up all of its chemical weapons within a week. Kerry made his comments ahead of a major PR attempt by President Obama to convince members of Congress and the American public of the need for action. Obama's efforts come amid uncertain support in Congress for intervention, where the President doesn't appear to be assured of a majority in either chamber.

Winning Olympic bid, GDP update sends Tokyo higher. The Nikkei jumped 2.5% after Q2 GDP growth was revised up to 3.8% from a prior reading of +2.6% and Tokyo won the bid for the 2020 Summer Olympics. The improved GDP number was fueled by a more positive read on capital expenditures, while it also increased the chances that the government will go through with a hike in sales tax. Meanwhile, the Olympics is forecast to boost the economy by ￥2.96T ($30B) over the next seven years and create 150,000 jobs.

Verizon set to launch massive bond offering. Verizon Communications (http://seekingalpha.com/symbol/vz?source=email_wsb&ifp=0" title="Verizon Communications" target="_blank" style="color: rgb(2, 73, 153); text-decoration: none; ">VZ) reportedly plans to start marketing a $50B debt sale today in what would be the largest ever corporate-bond offering. The carrier is raising the money to help pay for the $130B acquisition of Vodafone's (http://seekingalpha.com/symbol/vod?source=email_wsb&ifp=0" title="Vodafone Group plc" target="_blank" style="color: rgb(2, 73, 153); text-decoration: none; ">VOD) 45% holding in Verizon Wireless. Some hedge funds are doubtful that the new paper will be attractive enough and plan not to participate.

Top Stock News
Kabel Deutschland investors fear for Vodafone acquisition. Kabel Deutschland (http://seekingalpha.com/symbol/k ... email_wsb&ifp=0" title="Kabel Deutschland Holding AG" target="_blank" style="color: rgb(2, 73, 153); text-decoration: none; ">KBDHY.OB) shareholders are reportedly worried that Vodafone (http://seekingalpha.com/symbol/vod?source=email_wsb&ifp=0" title="Vodafone Group plc" target="_blank" style="color: rgb(2, 73, 153); text-decoration: none; ">VOD) won't reach the required level for its