Tuesday, July 16, 2013

Wall Street betting on last-minute debt deal

  • Reuters - Sunday 14th July, 2013

    Sun Jul 14, 2013 10:51pm EDT * Stocks & Australian dollar turn higher after China data * Bernanke QE comments rein in hawkish fears By Ian Chua SYDNEY, July 15 (Reuters) - Asian stocks erased early losses on Monday, while the Australian dollar popped higher as investors heaved a sigh of relief after a batch of Chinese data showed the slowdown in the region's economic powerhouse was not as ...

  • Australia shares rise in choppy trade buoyed by Wall St China GDP

    Reuters - Sunday 14th July, 2013

    Sun Jul 14, 2013 10:39pm EDT (Adds quotes, stocks on the move) SYDNEY, July 15 (Reuters) - Australian shares rose 0.4 percent in volatile trade on Monday, reflecting relief at Chinese GDP data coming out in line with expectations, plus a Wall Street rally on strong earnings. China's annual economic growth slowed to 7.5 percent in the second quarter of 2013 from 7.7 percent - a second ...

  • China data show slowing but in line with estimates

    Market Watch - Sunday 14th July, 2013

    LOS ANGELES (MarketWatch) -- China's economy grew 7.5% in the second quarter compared to a year earlier, while industrial production for June rose 8.9% from year-ago levels, slowing from May's 9.2% growth, the National Bureau of Statistics said Monday. The gross domestic product result was down from the first quarter's 7.7% advance, but matched projections from separate Dow Jones ...

  • China economic data preview Slowing expected

    Market Watch - Sunday 14th July, 2013

    LOS ANGELES (MarketWatch) -- Economists expect a bundle of Chinese data due out later Monday to show slowing in the world's second-largest economy, given weakness in recent data. China is slated to report second-quarter gross domestic product, as well as June industrial production, retail sales and fixed-asset investment, among others. A Reuters survey indicated economists see GDP growth ...

  • Improved loan growth for U.S. banks adds to solid economic indicators

    The Globe and Mail - Sunday 14th July, 2013

    A Citibank branch in New York. When Citigroup, Goldman Sachs and Bank of America report this week, all eyes will be on the pace of their loan growth. (SHANNON ...

  • Trial to begin for ex-Wall Street trader likened to Big Bad Wolf

    Tribune Review - Sunday 14th July, 2013

    NEW YORK -- A judge presiding over the civil trial of a former Goldman Sachs trader accused of misleading investors about the true prospects of their bet on a package of mortgage-based securities has summed up the charges against him with a fairy tale, saying it's as if he's accused of handing Little Red Riding Hood an invitation to grandmother's house while concealing the fact ...

  • Nasdaq to pay $10 million fine for poor systems in Facebook IPO

    MSNBC - Sunday 14th July, 2013

    People walk past the NASDAQ MarketSite in New York's Times Square June 4, 2012. The Nasdaq market has agreed to pay a $10 million penalty for alleged securities laws violations resulting from its "poor systems and decision-making" ...

  • Wall Street Week Ahead Fundamentals to be tested

    TVNZ - Sunday 14th July, 2013

    Wall Street climbs on Bernanke comments This week marks the first big week of second-quarter earnings, and it is sure to bring both joy and misery to Wall Street. Investors will concentrate on market fundamentals after weeks when Federal Reserve policies have dominated the market. If they see companies are still struggling, stocks could take a fall. Even after Fed Chairman Ben Bernanke scared ...

  • European investors remain cautious over equities

    European Pensions - Sunday 14th July, 2013

    The financial crisis has changed the attitudes and practices of European institutional investors with a notable shift away from equities and towards fixed income and cash, according to a survey supported by Invesco. The 2009 European Institutional Asset Management ...

  • US earnings in focus on Wall St this week

    New Zealand Herald - Sunday 14th July, 2013

    All eyes are set for the latest round of US corporate earnings after Federal Reserve Chairman Ben Bernanke finally managed to reassure investors that the central bank's stimulus effort is not going to evaporate any time soon. Markets had been pricing in a tapering of the Fed's US$85 billion a month bond-buying program since late May after Bernanke said as much. But with Bernanke tweaking ...

  • Indra Nooyi among top immigrant CEOs

    CNN Money - Sunday 14th July, 2013

    Only 14% of this year's Global 500 CEOs come from countries other than their corporate homelands. Meet 10 non-native Global 500 chief execs who have beaten the odds and climbed to the top of their org ...

  • New outlet for bonds education

    European Pensions - Sunday 14th July, 2013

    A new financial website, InvestinginbondsEurope.org, has been launched to offer retail investors free access to comprehensive, non-commercial and unbiased education, by the Securities Industry and Financial Markets Association (SIFMA). The site, which is the first of its kind, provides fixed income market information in English, German, French, Italian and Spanish in a pan-European ...

  • Wall Streets Fabulous Fab heads to trial

    CNN Money - Sunday 14th July, 2013

    The trial of the infamous ex-Goldman Sachs trader Fabrice "Fabulous Fab" Tourre, which starts Monday, could put a face on the type of Wall Street recklessness that imploded the housing market and almost sank the economy five years ...

  • U.S. stocks Goldman Google earnings on tap

    CNN Money - Sunday 14th July, 2013

    Several reports that give a reading on the health of the U.S. consumer will be released this week, including retail sales, housing starts and building ...

  • Stocks Bank of America Google earnings on tap

    CNN Money - Sunday 14th July, 2013

    On Wednesday, Federal Reserve chairman Ben Bernanke will deliver his semi-annual testimony to Congress on monetary policy. The same day, the central bank will release its beige book, which provides anecdotal information on current economic conditions in different parts of the country. Investors, who ...

  • RPT-Wall St Wk Ahead As earnings take over fundamentals to be tested

    Reuters - Sunday 14th July, 2013

    Sun Jul 14, 2013 11:06am EDT By Ryan Vlastelica NEW YORK, July 14 (Reuters) - This week marks the first big week of second-quarter earnings, and it is sure to bring both joy and misery to Wall Street. Investors will concentrate on market fundamentals after weeks when Federal Reserve policies have dominated the market. If they see companies are still struggling, stocks could take a fall. Even ...

  • Wall Street betting on last-minute debt deal

    People's Daily - Sunday 14th July, 2013

    With no political deal in Washington on raising the U.S. debt limit just days before a crucial deadline, investors are increasingly worried about a downgrade of the country's top-notch credit rating, or even an actual governmnent debt default. The U.S. Treasury Department has said the Congress must act before Aug.2 to avoid a catostropic default. With the dealine drawing close ...

  • XTL Bio returns to Nasdaq

    Globes - Sunday 14th July, 2013

    XTL ) will resume trading on Nasdaq this week, after Nasdaq approved the company's listing application last week. XTL's ADR will be traded at a ratio of 20 shares representing each ADR. XTL had been listed on Nasdaq, as well as the Tel Aviv Stock Exchange (TASE) and London Stock Exchange, until the collapse of its share price following the failure of the clinical trial of its lead ...

  • Insurers to earn extra yield on equities IRDA

    Times of India - Sunday 14th July, 2013

    NEW DELHI: Giving more freedom to insurers in securities market operations, regulator IRDA has allowed them to lend up to 10 per cent of their equity holding in a particular entity to earn extra yield on the portfolios. Insurers, according to ...

  • Program forms lasting bonds between A-K Valley families N.Y. children

    Pittsburgh Tribune Review - Sunday 14th July, 2013

    Lorri Harding, 11-year old Lilliana Harding (center, left), and Cliff Harding, of Washington Township, greet 9-year old Leilani Rosario, of Brooklyn, at Nixon United Methodist Church in Butler on Friday, July 12, 2013 as part of the Fresh Air Fund. Leilani and approximately 20 other children arrived by bus coming from the New York City area and will be visiting for two weeks as part of the Fresh ...

  • U.S. seeking direct nuke talks with Iran report

    China.org.cn - Saturday 13th July, 2013

    The Obama administration is seeking to hold direct talks with Iran over Tehran's controversial nuclear program after Iranian President-elect Hassan Rouhani sent out some positive signals, the Wall Street Journal reported ...

  • Earnings season approaching ?equities set for another rally

    The Punch - Saturday 13th July, 2013

    As earnings season draws ever more close, it seems the positive knock on effect is already evident in the market as equities revert from the bullish trends that were experienced in June though market return was as high as 42.50%. This positive mood has seen the market return increase by 3.37% Month-to-Date (MtD) in July, to peg year-to-date (YtD) gains at +33.13% after a decline of 4.20% in ...

  • Source: http://www.kyrgyzstannews.net/index.php/sid/215819443/scat/da4df54c389ee3f7

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    Simpson and Bowles are wrong on US debt

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    Source: www.ft.com --- Sunday, July 14, 2013
    The deficit hawks were mistaken before 2008 and they remain so now, with none of the Debt scare stories sounding particularly frightening ...

    Source: http://www.ft.com/cms/s/0/49f81e5c-ea3d-11e2-b2f4-00144feabdc0.html?ftcamp=published_links/rss/comment/feed//product

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    Friday, July 12, 2013

    Google Hangouts gets desktop voice calls (with North America bundled)

    Google has restored voice call functionality to desktop Hangouts in Gmail, Google+, and the Chrome extension, after the feature disappeared for those early-adopters who switched from the previous chat widget. The company has offered voice calls through Gmail for some time now, including free calls within the US and Canada as part of a frequently-renewed promotion, and as of this week Hangouts gets the upgrade too.


    This time around, any country that has Hangouts support can now make calls to the US and Canada free of charge, Google says; otherwise, there are the usual call rates for everyone else.

    The Hangouts update has also brought a few new features this time around. For a start, it?s now possible to host group calls ? with multiple phone numbers and video callers ? on the same call.


    On the more whimsical side, there?s the addition of the Google Effects app, which allows for sound effects in the background. Whether that will go down so well on business calls is questionable.

    You?ll need to be using the new Hangouts in Gmail in order to access the new features (and free calls); there?s an option to ?Try the new Hangouts? in the Gmail chat. Don?t be surprised if you don?t see the calling functionality immediately, though, as Google says it?s rolling out this week to all users.

    Source: http://feeds.slashgear.com/~r/slashgear/~3/cpdnSanClVo/

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    Thursday, July 11, 2013

    Famous Masonic Temple in Downtown Detroit Files for Bankruptcy

    By John Clark

    The Detroit Masonic Temple, which has operated as an iconic theater for several decades is filing for bankruptcy protection, in a move that may foreshadow Detroit?s decision to pursue the same form of debt relief.

    Or at least it seems like the theater is filing for bankruptcy. According to a report from the Detroit Free Press, the manager of the Masonic Temple claims that the theater is in fine financial shape.

    Manager Disputes Report of Bankruptcy Filing

    According to Steve Genther, the manager of the Masonic Temple, the theater itself is not seeking bankruptcy help. Rather, the entity that filed for bankruptcy is the theater?s former management company, sources say.

    But sources say it?s beyond dispute that the famous theater, which has served as a venue for musicians as famous as the Rolling Stones, has struggled with a wide range of financial problems for several years.

    Sources also say the theater narrowly avoided having its electricity service stopped last year, and was headed towards foreclosure before musician Jack White saved the venue by paying its $142,000 tax bill.

    Again, though, Genther stresses that the bankruptcy filing isn?t tied to the theater, but instead to the company that used to own the property. In addition, Brad Dizik, the Masonic Temple?s spokesman, also told sources that the theater is in no danger of filing bankruptcy.

    Nevertheless, the Theatre Co., the company that owns the Masonic Temple, is facing an enormous lawsuit from an event company. This lawsuit, however, has been stayed pending the completion of the bankruptcy.

    Sources also say that the Theatre Co. may have up to $500,000 in debt, but its assets are only worth a maximum of $50,000. The company reportedly owes money to several creditors, the largest of which are the State of Michigan Unemployment Insurance Agency and All American Waste Services of Romulus.

    Theater Troubles Match Financial Ills Faced by Detroit

    While Detroit?s most historic music venue faces potential foreclosure, the city itself continues to limp towards a potential bankruptcy filing of its own, sources say.

    Detroit has flirted with bankruptcy for months, and is currently in the hands of an emergency receiver who has temporarily taken control of the city?s finances away from the mayor and city council.

    Thus far, the city has managed to remain afloat, but as revenues continue to sink and pensions costs continue to rise, Detroit may soon find itself on the precipice of a historically large municipal bankruptcy, sources predict.

    Source: http://www.clearbankruptcy.com/blog/famous-masonic-temple-in-downtown-detroit-files-for-bankruptcy/

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    Schumer aims to improve military voting

    By Conor Mooney

    Schumer aims to improve military voting

    July 9, 2013 Updated Jul 9, 2013 at 8:50 PM EDT

    (WBNG Binghamton) Senator Charles Schumer wants to make voting for those in the military and overseas easier.

    The goal is to improve the "MOVE Act."

    The bill would allow express delivery of voting ballots to service members and would require states to update the government on the availability of ballots before election days to avoid problems.

    Schumer plans to introduce the legislation along with U.S. Sen. John Cornyn (R-Texas)

    The pair hope to pass the legislation as an Amendment to the 2014 National Defense Authorization Act.

    Source: http://www.wbng.com/news/local/Schumer--214824921.html

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    Sunday, July 7, 2013

    Arianna Huffington: Sunday Roundup

    Get Politics Newsletters:

    From watching cable, you'd think the only news this week was the George Zimmerman trial. But as CNN spent Wednesday breathlessly team-covering every angle of some badly-Skyped-in testimony, a hint of other news appeared in a small box on-screen, captioned "coup under way." That was, of course, referring to the fact that Egyptian President Mohammed Morsi was being toppled. Is this monomaniacal coverage really the best way to honor Trayvon Martin's memory? It was enough to send me clicking over to the Golf Channel -- and I don't even play, though I did learn what a mulligan is. If the media took one, maybe next time, in addition to Egypt, they'd also cover yet another middling jobs report released on Friday, which showed the economy adding mostly low-wage jobs and still on pace to reach full-employment only by decade's end. But don't tell anybody.




    Follow Arianna Huffington on Twitter: www.twitter.com/ariannahuff

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    Source: http://www.huffingtonpost.com/arianna-huffington/sunday-roundup_289_b_3554898.html

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    Friday, July 5, 2013

    Japan gets a pair of exclusive Pokemon X and Y 3DS XLs, world seethes with envy


    Nintendo has a history of releasing snazzy special edition hardware outside of the U.S. and two Japan-only Pokemon X & Y 3DS XLs have now been added to it. The blue passive-3D dual-screen handheld features a pair of new legendary pocket monsters -- Xerneas and Yveltal, if you're curious -- and is out October 12th. The second of the duo is going to be more elusive than a Mew. To snatch a metallic gold 3DS XL (also with Xerneas, plus a slew of others), being in Japan to coincide with X & Y's release isn't enough: fighting off the rest of the trainers at Pokemon Center retailers October 12th is on the bill, too. May the best Pokemaster -- with 22,800 yen ($227) -- win! You didn't think The Big N was gonna make it easy to catch 'em all, did you?

    Filed under:


    Via: Kotaku (1), (2)

    Source: Pokemon (Japan)

    Source: http://www.engadget.com/2013/07/05/japan-pokemon-xy-3ds-xl/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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