Archive for January, 2013

S&P cuts Monte Paschi rating on derivative loss concerns

January 31st, 2013

S&P cuts Monte Paschi rating on derivative loss concerns
MILAN (Reuters) – Ratings agency Standard & Poor’s cut its long-term credit rating on scandal-hit Monte dei Paschi di Siena by one notch to “BB” on Thursday, citing concerns over potential losses from structured finance contracts. Last week, Italy’s third-biggest bank said that complex derivative trades, which only came to light recently, could cost it 720 million euros (£616.02 million). …
Source
Stock Markets News Headlines – Yahoo! News

Up to 100,000 people flee fighting in Darfur: U.N.

January 31st, 2013

Up to 100,000 people flee fighting in Darfur: U.N.
KHARTOUM (Reuters) – Fighting over a gold mine in Sudan’s Darfur region has forced 100,000 people to flee and brought the closure of all public offices and schools in one town to accommodate the displaced, the United Nations said on Thursday. Conflict has raged in the vast arid region of Darfur for almost a decade since mainly non-Arab tribes took up arms against the Arab government in Khartoum in 2003, accusing it of political and economic neglect. Violence has ebbed since a peak in 2003/2004 but has picked up again in the past few months. …
Source
Economy News Headlines – Yahoo! News

GLOBAL MARKETS-U.S. stocks flat; euro climbs; jobs data ahead

January 31st, 2013

GLOBAL MARKETS-U.S. stocks flat; euro climbs; jobs data ahead
* U.S. stocks flat, European stocks extend losses
* Weak earnings, Deutsche loss, German retail sales weigh
* Euro climbs for a third straight day

NEW YORK, Jan 31 (Reuters) – The euro…


Source
Reuters: US Dollar Report

UPDATE 1-Venezuela eases access to dollars for business

January 31st, 2013

UPDATE 1-Venezuela eases access to dollars for business
CARACAS, Jan 31 (Reuters) – Venezuela’s government on
Thursday introduced measures to streamline access to dollars for
a private sector that frequently complains of shortages of hard
currency to buy…


Source
Reuters: US Dollar Report

COLUMN – Is the current market optimism justified?

January 31st, 2013

COLUMN – Is the current market optimism justified?
Jan 31 (Reuters) – The U.S. economy has just suffered its
first contraction since 2009, consumer confidence has plunged
since November’s election and Americans’ paychecks are only just
starting to…


Source
Reuters: US Dollar Report

Lazard, MS could lose $33 mln in fees if US blocked Modelo deal

January 31st, 2013

Lazard, MS could lose $33 mln in fees if US blocked Modelo deal
* News comes as deal volumes, fees down from pre-crisis
levels
Source
Reuters: Media

UPDATE 4-Time Warner Cable's outlook disappoints; shares slump

January 31st, 2013

UPDATE 4-Time Warner Cable's outlook disappoints; shares slump
* Company says programming costs to rise 10 percent

(Recasts, adds background on housing market, Time Warner Cable
dropping channels)
Source
Reuters: Media

UPS 4Q results, 2013 outlook miss estimates

January 31st, 2013

UPS 4Q results, 2013 outlook miss estimates

UPS 4Q results, 2013 outlook miss estimatesUnited Parcel Service Inc. says weak global trade and a disappointing holiday-shopping season slowed it down in the fourth quarter.Profit in the last three months of 2012 fell short of Wall Street expectations. …

Source
Stock Markets News Headlines – Yahoo! News

Downbeat earnings from Shell floor FTSE

January 31st, 2013

Downbeat earnings from Shell floor FTSE

A worker shelters from the rain as he passes the London Stock Exchange in the City of LondonLONDON (Reuters) – The FTSE 100 closed lower on Thursday as downbeat company earnings and mixed global economic data triggered the sharpest one-day fall on the index since mid-November. Earnings were in focus after updates from British oil heavyweight Royal Dutch Shell and drugmaker AstraZeneca, and Facebook Inc in the United States, disappointed. Shell alone took 16 points off the blue chip FTSE 100 index after its fourth quarter profit came in nearly $400 million short of expectations. The FTSE closed down 46.23 points, or 0.7 percent at 6,276.88, edging away from mid-May 2008 highs of …

Source
Stock Markets News Headlines – Yahoo! News

Peru's sol ends at weakest level since Dec.6 after tightened reserve requirements

January 31st, 2013

Peru's sol ends at weakest level since Dec.6 after tightened reserve requirements
LIMA, Jan 31 (Reuters) – Peru’s sol currency
finished bidding 0.31 percent weaker at 2.575 per dollar on
Thursday, a day after the central bank tightened reserve
requirements to soften the impact of…


Source
Reuters: US Dollar Report