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<br /> Non-residents of India or NRIs can now avail the facilities which every other Indians enjoy to secure their old-age income. They can now invest in the National Pension Scheme which is governed and administered by the <keyword id="137211" type="ORGANIZATION" weightage="100" keywordseo="Pension-Fund-Regulatory-and-Development-Authority">Pension Fund Regulatory and Development Authority</keyword>, <keyword id="30067" type="ORGANIZATION" weightage="100" keywordseo="RBI">RBI</keyword> said. The step has been taken in consultation with the government. <br /><br />

	RBI said that investment has to be routed through normal banking channels. The subscription amounts should be paid by NRIs either by inward remittance through normal banking channels or out of funds held in their NRE/FCNR/NRO account. There will be no restriction on repatriation of the annuity or accumulated savings. 
<br /><br />

	Minimum annual subscription under NPS is Rs 6,000 while allocation to equities is capped at 50% of investment.
<br /><br />

	NPS investments mature when the investor turns 60. If the corpus is less than Rs 2 lakh, the entire sum can be withdrawn. If it is more, the subscriber must put at least 40% of the corpus into an annuity to get a monthly pension.
<br /><br />

	(Image credits: Indiatimes)

Know all about the Modi government's next big step to appease the NRIs

<ul class="summary-list"><li>More investors are being encouraged to sell off their assets in fossil-fuel companies.</li><li>Institutional investors are implementing policies that lower their exposure to such companies.</li><li>Funding for renewable energy is growing as a result of the <keyword id="11896316" type="UNKNOWN" weightage="60" keywordseo="divestment" source="Orion">divestment</keyword> movement.</li></ul><p>For supporters of the movement to divest from fossil fuels, the Intergovernmental Panel on <keyword id="11896311" type="UNKNOWN" weightage="60" keywordseo="climate-change" source="Orion">Climate Change</keyword>'s <a href="https://www.businessinsider.com/climate-ipcc-report-temperature-rise-20-years-15-degrees-2021-8">latest report</a> on the <keyword id="11896310" type="UNKNOWN" weightage="60" keywordseo="climate-crisis" source="Orion">climate crisis</keyword> is further evidence that investors need to shift their capital away from businesses responsible for carbon emissions. </p><p>One of the biggest financial movements in <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">sustainability</keyword> is applying social and economic pressure on the capital reserves of fossil-fuel companies. The divestment movement - where investors are encouraged to sell their financial assets connected to coal, oil, and natural-gas companies - was estimated to be worth <a href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/investors-slowing-down-on-fossil-fuel-divestment-amid-pandemic-survey-finds-61412797">$14 trillion</a> last year. </p><p>As more people become aware of the climate crisis, <a href="https://slate.com/technology/2021/06/maine-fossil-fuel-divestment-campus-movements.html">state</a> and <a href="https://www.cbc.ca/news/canada/pension-fund-investments-fossil-fuels-1.6138550">national</a> pension funds, <a href="https://www.dailyprincetonian.com/article/2021/06/princeton-university-divestment-decision-reached-net-zero-board-of-trustees">university</a> endowments, and even the <a href="https://cathstan.org/news/local/archdiocese-of-washington-s-action-plan-offers-practical-steps-for-caring-for-creation">Archdiocese of Washington</a> have announced shifts in investment policies that lower or eliminate their exposure to fossil-fuel companies. ​​Earlier this summer, Maine became <a href="https://news.yahoo.com/maine-becomes-first-state-order-192708619.html">the first US state</a> to pass a law requiring public funds to sell off investments in coal, petroleum, natural gas, and related products by 2026. </p><p>Many fossil-fuel companies need outside investment capital for their operations, expansion, and plans for growth. The main financial argument against divestment is that it would hurt the returns for investors in companies such as <a href="https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter">BlackRock</a> and pension holders. "Just selling does nothing to address climate change, as ownership of the funds are just being transferred to someone else," Sandy Matheson, the executive director of Maine Public Employees Retirement System, <a href="https://www.bloomberg.com/news/articles/2021-07-07/pension-fund-director-makes-a-case-against-fossil-fuel-divestment-green-insight?sref=P6xXtEaF">told Bloomberg Green</a> in July. "That's true, both in the private and public markets."</p><p>But the Rockefeller ​​Brothers Fund, a major philanthropic organization, said this was <a href="https://www.rbf.org/news/five-years-out-oil-rbf-isnt-looking-back">not the case</a>, and the contrarian investment strategist Jeremy Grantham published a <a href="https://www.lse.ac.uk/granthaminstitute/news/the-mythical-peril-of-divesting-from-fossil-fuels/">report in 2018</a> showing a relatively small difference when <em>any </em>sector was removed from a portfolio. Investors are also affected by damages from the rising number and increasing severity of natural disasters related to the climate crisis. This summer, there has already been extreme flooding in <a href="https://www.nbcnews.com/news/world/least-44-killed-severe-flooding-mudslides-turkey-n1276829">Turkey</a>, <a href="https://www.theguardian.com/environment/2021/jul/16/climate-scientists-shocked-by-scale-of-floods-in-germany">Germany</a>, <a href="https://www.npr.org/2021/07/21/1018764692/china-blasts-dam-to-divert-massive-flooding-that-has-killed-at-least-25">China</a>, Belgium, and, on Monday, <a href="https://www.azcentral.com/story/news/local/arizona-breaking/2021/08/16/ducey-issues-emergency-declaration-after-serious-flooding-gila-bend/8153521002/">Gila Bend, Arizona</a>.</p><p>The divestment movement is also important because it often happens <a href="https://www.theguardian.com/environment/2020/nov/23/investors-plan-major-move-into-renewable-energy-infrastructure">in tandem with shifts</a> to greater funding for renewable- and low-carbon-energy infrastructure, said many of the <a href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/investors-slowing-down-on-fossil-fuel-divestment-amid-pandemic-survey-finds-61412797">investors polled</a> by the asset manager Octopus Investments Ltd. last year. As more companies, governments, and organizations announce transitions to net-zero carbon emissions, investments in the clean-energy sector totaled <a href="https://ieefa.org/wp-content/uploads/2021/07/Global-Investors-Move-Into-Renewable-Infrastructure_July-2021.pdf">$501 billion</a> last year - 9% more than 2019.</p><p>This financial shift is also happening among institutional investors. In one of BlackRock's <a href="https://www.blackrock.com/corporate/investor-relations/blackrock-client-letter">annual letters</a>, the investment firm said the amount globally invested by mutual funds and exchange-traded funds into sustainable products between January and November 2020 rose to $288 billion, a 96% increase compared to all of 2019.</p><p>Divestment from fossil fuels is only one part of how companies, governments, and investment organizations are becoming more sustainable. It's one of the clearest business shifts, but it's a movement in response to the growing realization that there are far fewer profits or kinds of shareholder value that can be made on a planet too warm to sustain human life.</p>

Fossil-fuel companies need investors to operate. Could the IPCC report help push for more divestment from them?

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://www.flickr.com/photos/davidchief/477355231/">David Martyn Hunt/Flickr (CC)</a></span></p><p class="caption">One scandal-free horse.</p></div><p></p></div></div>What links Samsung, an $830,000 (£683,000( horse, and the South Korean national pension fund?</p><p>They're just some of the ingredients in a huge, surreal presidential scandal rocking South Korea.</p><p>Choi Soon-sil, an aide of president Park Geun-hye, has been accused of shaking down businesses to enrich themselves via a slush fund, with the assistance of president Park - whose future is now in doubt.</p><p>The evolving scandal has shaken the country, and Samsung, South Korea's largest company, is bring dragged in.</p><h2>Back up: What on earth is going on?</h2><p>In short: Choi Soon-sil, a close friend of president Park Geun-hye, is accused of taking cash in exchange for influence from companies.</p><p>Choi allegedly had access to classified material and drafts of speeches, <a href="http://www.koreatimes.co.kr/www/news/nation/2016/11/116_217566.html">which were discovered on a tablet computer</a> in one of her offices.</p><p>She now faces charges of abuse of power and fraud, <a href="http://uk.businessinsider.com/r-how-ties-to-an-equestrian-princess-landed-samsung-at-center-of-a-scandal-2016-12">according to Reuters.</a></p><p>President Park's future now looks dubious. She has been impeached by parliament and stripped of her powers, but continues to deny wrongdoing.</p><h2>And Samsung comes into this, how?</h2><p>Investigators are trying to ascertain whether Samsung paid bribes to Park-linked organisations in an effort to get support from the national pension fund to get a merger approved between two Samsung entities that would give the company's heir-apparent Jay Y. Lee more control. (<a href="http://www.bbc.co.uk/news/business-38551622">The pension fund owned shares in both entities</a>.)</p><p>Samsung's offices have been raided twice, and prosecutors are currently weighing up whether they plan to arrest two Samsung executives, <a href="https://twitter.com/youngvulgarian/status/818768955376631809">according to Reuters</a>, or whether they will be considered witnesses in the investigation.</p><p>Some observers believe Lee will likely be called in by prosecutors next. "Summoning two top guys at Samsung Group may mean the special prosecutors are carrying out the final checks before calling in Jay Y. Lee," <a href="https://www.bloomberg.com/news/articles/2017-01-09/an-830-000-horse-a-presidential-scandal-and-samsung-succession">Hansung University professor Kim Sang-Jo told Bloomberg</a>. "Samsung stands at the center of Choi-gate."</p><p>Samsung did not immediately respond to Business Insider's request for comment.</p><h2>But what about the horse?</h2><p>Ah yes, the horse. <a href="http://uk.businessinsider.com/r-how-ties-to-an-equestrian-princess-landed-samsung-at-center-of-a-scandal-2016-12">Reuters reports that in 2015</a>, Samsung paid $18 million (£14.8 million) to Core Sports International, a consulting firm owned by - you guessed it - Choi Soon-sil.</p><p>The company ended up sponsoring an equestrian team to the tune of $8 million (£6.6 million) - and one of the members was Chung Yoora, daughter of Choi. It also spent $830,000 (£680,000) on a horse called Vitana V that was used by Chung.</p><p>There were reportedly supposed to be six people on the team, but in reality it was only Chung and her coach.</p><h2>So, is that it?</h2><p>Samsung has made payments to other initiatives supported by Choi Soon-sil. But this scandal isn't limited to Samsung. <a href="http://www.bbc.co.uk/news/business-38551622">According to the BBC</a>, eight firms so far have admitted giving money to funds linked to the president.</p><p>But what makes the whole affair so much stranger is the "cult" allegations.</p><p>Choi Soon-sil is the daughter of Choi Tae-min, the now-deceased leader of a cult-like group. Rumours swirled that President Park had been indoctrinated by Choi, to such an extent she felt compelled to deny them in November 2016 when she apologised for her relationship with (the younger) Choi.</p><p>There have been claims that I fell for a religious cult or had [shamanist rituals] performed in the Blue House [the presidential palace], but I would like to clarify that those are absolutely not true," <a href="http://www.bbc.co.uk/news/world-asia-37869993">she said, the BBC reported</a>.</p><p>It's a surreal, far-reaching affair - and there's still plenty we don't know. But as the investigation continues, it should slowly become clearer.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/stratfor-releases-annual-report-predictions-china-russia-europe-economy-terrorism-trump-us-2017-2016-12">These are Stratfor's chilling predictions for 2017</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="B3cmRtODE6AVvM2Q_w6SvkCHd1DxId92" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

An $830,000 horse links Samsung and a huge South Korean presidential scandal

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Scott Olson/Getty Images</span></p><p class="caption">Jay Lee, president and chief executive officer of Samsung Electronics, attends the Allen &amp; Company Sun Valley Conference on July 10, 2015 in Sun Valley, Idaho.</p></div><p></p></div></div>Samsung's leader Jay Y. Lee was grilled by South Korean prosecutors in a marathon 22-hour-plus session over his connection to a huge influence-peddling scandal that could topple South Korean President Park Geun-hye.</p><p>Lee did not sleep during the questioning - and neither did the two prosecutors questioning him, according to Reuters - finally leaving early on Friday morning.</p><p>Prosecutors are investigating Lee and Samsung engaged in bribery - specifically, whether the conglomerate provided 30 billion won ($25.46 million) to a business and foundations backed by President Park's friend, Choi Soon-sil, in exchange for the national pension fund's support for a 2015 merger of two Samsung affiliates.</p><p>Prosecutors are now weighing up whether to arrest the 48-year-old executive. "Lee returned home at around 7:30 a.m. this morning," <a href="https://www.bloomberg.com/news/articles/2017-01-13/samsung-s-lee-questioned-for-22-hours-in-korea-bribery-probe?utm_content=tech&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_medium=social&amp;cmpid%253D=socialflow-twitter-tech">a spokesperson for the special prosecutor told Bloomberg</a>. "He has denied most of the allegations. Whether the prosecution will request an arrest warrant or not will be decided likely today or tomorrow."</p><p>The corruption scandal has engulfed the highest reaches of South Korea's elite, with President Park impeached by parliament in December. She denies wrongdoing, but has been stripped of her powers, and the decision to impeach her must now be upheld or struck down by the Constitutional Court.</p><p>Jay Y. Lee was named as a suspect on Wednesday and summoned on Thursday morning for questioning. Before the questioning, he told reporters that "I apologize to the Korean people that we couldn't show better behavior in this case," <a href="https://www.bloomberg.com/news/articles/2017-01-13/samsung-s-lee-questioned-for-22-hours-in-korea-bribery-probe?utm_content=tech&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_medium=social&amp;cmpid%253D=socialflow-twitter-tech">Bloomberg reported</a>. (He did not comment after the 22-hour questioning finished.)</p><p>Prosecutors were looking into whether he gave false testimony during a parliamentary hearing in early December, where the heads of nine of South Korea's biggest chaebol (conglomerates) were subjected to an unprecedented 13-hour televised grilling by a panel investigating the presidential scandal.</p><p>Jay Y. Lee denied bribery accusations during that hearing - rejecting assertions from lawmakers that Samsung lobbied to get the fund to back the 2015 merger.</p><p>Shares in group flagship Samsung Electronics, the world's largest smartphone maker, were down about 2.5 percent on Friday.</p><h2>The equestrian connection</h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Reuters/Petr Josek Snr</span></p><p class="caption">Some lovely scandal-free horses.</p></div><p></p></div></div>Lee isn't the only Samsung exec that has been brought in for questioning. Park Sang-jin, a president at Samsung Electronics, was also questioned for around 13 hours until early Friday.</p><p>He's connected to a surreal aspect of the corruption scandal - an equestrian team. In 2015, Samsung Electronics sponsored an equestrian team, whose members included the daughter of Choi Soon-sil a friend of President Park who is a key figure in the scandal. Choi is in detention and undergoing a criminal trial. (She has denied wrong-doing.)</p><p>Her daughter, 20-year-old Chung Yoo-ra, was arrested by Danish police early this month after she was sought by South Korean authorities. Chung, who won a gold medal in group dressage at the 2014 Asian Games, has also denied wrongdoing.</p><p>Park Sang-jin, who had refused to appear at parliamentary hearings on the matter - citing health issues - did not comment to reporters as he left the prosecutors' office at about 3 AM while wearing a white face mask.</p><p>Two other Samsung Group executives were questioned by special prosecutors on Monday and subsequently released.</p><p>Samsung has acknowledged making payments to two foundations at the center of the scandal, as well as to a consulting firm controlled by Choi, but has repeatedly denied accusations of lobbying to push through the controversial 2015 merger of affiliates Samsung C&amp;T Corp and Cheil Industries Inc.</p><p>Dozens of South Korean corporate groups made contributions totaling 77.4 billion won ($65.75 million) to two foundations that were set up to back President Park's initiatives, but Samsung's donations were the largest.</p><p>Late last month, the head of South Korea's National Pension Service, the world's third-largest pension fund, was arrested after he acknowledged that he had pressured the fund to approve the $8 billion merger between the two Samsung Group affiliates while he was head of the health ministry, reversing an earlier public denial.</p>

Samsung's leader was grilled by investigators for over 22 hours in the South Korean corruption scandal

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Good morning! Here are 10 things you need to know in markets today.</p><p><strong>The EU has made a last-minute offer to Athens in a bid to reach a bailout agreement before the deadline expires later today.</strong> Under the offer, Greek Prime Minister Alexis Tsipras has to send a written acceptance <a href="http://uk.businessinsider.com/the-eu-just-made-a-last-ditch-offer-to-greece-2015-6">in time for an emergency meeting of the eurozone finance ministers</a> to be held, and agree to campaign in favour of the bailout being voted on in the planned July 5 referendum.</p><p><strong>Thousands people gathered in central Athens last night to campaign for a rejection of the bailout deal in Sunday's referendum.</strong> <a href="http://uk.businessinsider.com/heres-what-people-told-me-at-the-massive-rally-against-a-bailout-deal-in-athens-tonight-2015-6">Our reporter Mike Bird was there covering the rally</a>.</p><p><strong>Greek PM Alexis Tsipras addressed his country's people on state TV last night ahead of the July 5 referendum.</strong> He said: "They [the EU] will not kick us out of the eurozone because the cost is immense," and <a href="http://uk.businessinsider.com/live-greek-prime-minister-addresses-the-world-2015-6">hinted that if Greek's vote "yes" he will resign</a>.</p><p><strong>Asian markets continue to be volatile but are in the black this morning.</strong> The Nikkei is up about 0.5%, the Shanghai Composite is up 2.2%, <a href="http://uk.businessinsider.com/chinese-stocks-are-tumbling-again-2015-6">despite falling 5% in early trade</a>, and the Hang Seng is up 1.5%.</p><p><strong>Financial and professional services lobby group TheCityUK has made 25 recommendations for reforms of Britain's membership of the EU.</strong> They are <a href="http://uk.businessinsider.com/eu-referendum-thecityuk-eu-reform-report-to-stop-brexit-2015-6#ixzz3eWHrnLSY">broken into four subcategories</a> - a deep and strong Single Market, open to the world; better regulation; a European agenda for jobs, growth and competitiveness; and fair and equal treatment of all Member States.</p><p><strong>The European Union has reached a preliminary deal to scrap mobile phone roaming charges across the 28-country bloc by June 2017.</strong> It's part of <a href="http://www.businessinsider.com/r-eu-in-preliminary-deal-to-scrap-mobile-roaming-fees-by-mid-2017-2015-6?IR=T">an overhaul of the continent's telecoms market to boost growth and innovation</a>.</p><p><strong>Puerto Rico's governor has called for the commonwealth to be allowed to restructure its debts under the US bankruptcy code. </strong>A newly appointed adviser to the US territory <a href="http://www.businessinsider.com/r-puerto-rico-governor-calls-for-bankruptcy-adviser-says-island-insolvent--2015-6#ixzz3eWItophU">said it is "insolvent" and will soon run out of cash</a>. On Sunday the governor warned the island would be unlikely to pay its $72 billion (£45.7 billion) debts.</p><p><strong>Chinese policy makers are planning to let the nation's pension funds invest in its stock market in a bid to prop the markets up.</strong> The benchmark Shanghai Composite <a href="http://uk.businessinsider.com/china-is-allowing-its-massive-pension-fund-to-buy-stocks-to-support-the-shaky-market-2015-6">has dropped by 20% in the last two weeks</a> after surging by 140% over the last year.</p><p><strong>A judge in Delaware has dismissed a lawsuit brought by General Motors shareholders over the recall of millions of vehicles with an ignition switch defect linked to several deaths.</strong> The judge's ruling on Monday said that the shareholders <a href="http://www.businessinsider.com/r-delaware-judge-dismisses-shareholder-lawsuit-over-gm-recall-2015-6#ixzz3eWOAPVao">have not shown any proof that the company's directors acted in bad faith</a> and dismissed the case.</p><p><strong>Royal Dutch Shell says it could begin its 2015 Arctic oil exploration drilling operations as early as the third week in July when its forecasters believe that sea ice over its prospects will begin to clear.</strong> The Polar Pioneer drilling rig <a href="http://www.businessinsider.com/r-shell-says-could-begin-arctic-oil-exploration-off-alaska-in-late-july-2015-6#ixzz3eWP4K1tJ">arrived in Dutch Harbour, off mainland Alaska, over the weekend</a> and will remain there until ice begins to clear.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/1998-mclaren-f1-auction-15-million-dollars-2015-6">This 1998 supercar could auction for $15 million</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Rsc3hodTqM0OE0pn7eL8MJ-yolA-SZHN" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

10 things you need to know in markets today

<p><strong><div class="KonaFilter image-container display-table"><div><div class="image"></div><p></p></div></div>1)  Christine Lagarde Under Investigation.</strong> The IMF Director is now considered a suspect for having facilitated a judgement overly favorable to the former owner of Adidas, who in the '90s sued Credit-Lyonnais, then partially owned by the state, for mishandling the sale of the footwear giant. Lagarde says she will not resign. </p>
<p><strong>2)  Gun Rally Over? </strong>Shares in Smith &amp; Wesson are collapsing Wednesday morning after the gun-maker <a href="http://ir.smith-wesson.com/phoenix.zhtml?c=90977&amp;p=irol-newsArticle&amp;ID=1961164&amp;highlight=">slashed </a><span>its full-year sales expectations for the second time in two months. Sturm Ruger shares are down 5% Wednesday morning in sympathy. <span>"We believe that the current environment reflects high inventories industry-wide resulting from channel replenishment that occurred following an earlier surge in consumer buying," Smith &amp; Wesson CEO James Debney said in a statement. "That environment, combined with typical seasonality that slows consumer buying activity during the summer, is causing us to lower our financial outlook for fiscal 2015."</span></span></p>
<p><strong>3)  Time Warner Cable Outages. </strong>Time Warner Cable customers across the U.S. <a href="http://www.businessinsider.com/timewarner-down-2014-8">are reporting outages</a>. The incident follows a similar incident that occurred Tuesday morning in which <a href="http://www.businessinsider.com/widespread-internet-outages-reported-in-london-2014-8">Virgin Media customers in the the U.K. were unable to access the internet</a><span style="font-size: 15px; line-height: 1.5em;"> Tuesday morning due to a network issue. </span><span style="font-size: 15px; line-height: 1.5em;">  </span></p>
<p><strong>4)  Autonomous Driving Firm Still Rallying. </strong><span style="font-size: 15px; line-height: 1.5em;">Israeli firm Mobileye shares are up another 2.5% Wednesday, after rallying more than 8% Tuesday, as major sell-side analysts initiated favorable coverage of the stock. Morgan Stanley's Ravi Shenkar called it the only pure play name in the autonomous driving industry. </span></p>
<p><strong>5)  Snapchat $10 Billion. </strong>The Wall Street Journal's Evelyn Rusli and Doug MacMillan <a href="http://online.wsj.com/articles/snapchat-fetches-10-billion-valuation-1409088794?mod=WSJ_hp_LEFTWhatsNewsCollection">report</a> Kleiner Perkins has invested in the ephemeral photo sharing app at a valuation of $10 billion. "<span style="font-size: 15px; line-height: 1.5em;">Snapchat, which has talked to several potential investors in recent months, is in the process of raising a large investment round that would make it one of the world's most valuable private tech startups despite virtually no revenue," they wrote. "</span><span style="font-size: 15px; line-height: 1.5em;">Kleiner, one of Silicon Valley's best-known venture-capital firms, committed to invest up to $20 million in May, one of the knowledgeable people said."</span></p>
<p><strong>6)  Danish National Fund In Rate Hike Hedge. </strong>Bloomberg's Peter Levring writes that Denmark's ATP national pension fund is repositioning itself to protect gains from imminent interest rate increases. "<span style="font-size: 15px; line-height: 1.5em;">For ATP, the goal is not to be part of the crowd of investors heading for the door when markets exit securities that rely on low rates to stay profitable," he writes. " '</span><span style="font-size: 15px; line-height: 1.5em;">We'll continue to protect against </span><a href="http://topics.bloomberg.com/interest-rate/">interest rate</a><span style="font-size: 15px; line-height: 1.5em;"> increases and if that happens, the effect will be substantial,' Chief Executive Officer Carsten Stendevadsaid in a phone interview. 'There could naturally be some costs associated with that before it comes through.'"</span></p>
<p><strong>7)  Anti-ISIS Alliance Forming. </strong>The New York Times' Helene Cooper and Mark Landler <a href="http://www.nytimes.com/2014/08/27/world/middleeast/us-mobilizes-allies-to-widen-assault-on-isis.html?referrer=&amp;_r=0">report</a> President Obama is putting together an international coalition to fight the Islamist militant group that could include <span style="font-size: 15px; line-height: 1.5em;">Australia, Britain, Jordan, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. "T</span><span style="font-size: 15px; line-height: 1.5em;">he officials, who asked not to be named discussing sensitive internal deliberations, said they expected that Britain and Australia would be willing to join the United States in an air campaign. The officials said they also wanted help from Turkey, which has military bases that could be used to support an effort in Syria."</span></p>
<p><strong>8)  No Major Data. </strong>Mortgage applications increased 2.8% week-over-week but remain anemic. <span style="font-size: 15px; line-height: 1.5em;">"The refinance index reached its highest level in more than two months," said Michael Fratantoni, chief economist for the MBA <a href="http://www.cnbc.com/id/101949514">per CNBC</a>. "Purchase volume continues to be weak despite the small increase, and was 11 percent below this time last year."</span></p>
<p><strong>9)  Earnings.</strong> Tiffany shares were up more than 1% Wednesday morning pre-market after reporting profits that beat expectations by $01.11 and lifting its outlook. Shares in Chinese solar firm Yingli were little changed after reporting earnings $0.14 ahead of forecasts but revenue that fell short by $38.5 million and flat year-on-year. Express and Michaels also report Wednesday.</p>
<p><strong>10)  Markets.</strong> Stocks across the world, along with U.S. futures, were mostly flat. Japan's Nikkei was up 0.1%, as was London's FTSE. Dow futures were up 15 points. </p>

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