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Wall Street Cheat Sheet: Another Country to Bailout EU, MF Global Goes Bust

Business

[Editors note: the following is a cross post from Wall St. Cheat Sheet regarding the day's important financial news.]

Russia (NYSE:RSX): will provide up to $10 billion to help European countries with the euro zone debt crisis. The country said last week they were willing to offer assistance but according to Arkady Dvorkovich, Russia’s chief presidential economic aide, he reiterated they would provide money through the International Monetary Fund instead of contributions to a special stability fund.

Don’t Miss: VIRAL VIDEO: The Secret Truth Behind Who Will Really Bail Out Europe.

After attempting a fire sale over the weekend, MF Global (NYSE:MF), will file for Chapter 11 bankruptcy as soon as today and according to the Wall Street Journal, may sell the firm’s assets to Interactive Brokers Group (NASDAQ:IBKR) for $1 billion through a court-supervised auction. The company has also been suspended from conducting business with the Federal Reserve Bank of New York.

Panasonic Corp. (NYSE:PC) reported a second quarter net loss of ¥105.8 billion as compared to a net profit of ¥31.0 billion from the previous year. Its operating profit for the quarter declined about 50 percent to ¥42.0 billion as compared to ¥85.2 billion from the same time a year ago. The gloomy report also included a 6 percent revenue decline to ¥2.076 trillion from ¥2.207 trillion. For its full fiscal year through March, Panasonic dropped its earnings forecast and now estimates a ¥420 billion ($5.54 billion) net loss, a ¥130 billion operating profit and ¥8.3 trillion in revenues.

Investing Insights: Here’s Why Investors Should Not Compare Coinstar to Netflix.

Netflix Inc. (NASDAQ:NFLX) and Amazon.com Inc. (NASDAQ:AMZN) have signed licensing deals with Walt Disney Co. (NYSE:DIS) to increase offerings to their subscribers. Netflix will ramp up its Disney, ABC series and TV movie lineup while Amazon’s deal will include the streaming of content from ABC Studios, Disney Channel, ABC Family and Marvel.

Financial details were not disclosed by any of the companies.

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