Archive for January, 2014

Fed draws criticism from abroad as emerging markets still reeling

January 31st, 2014

Fed draws criticism from abroad as emerging markets still reeling

General view of U.S. Federal Reserve building in WashingtonBy Neha Dasgupta and Jonathan Spicer MUMBAI/NEW YORK (Reuters) – The Federal Reserve's decision to keep trimming its economic stimulus drew fire on Friday as India's central bank chief said Americans should be more attuned to the global impact of their policies, and the IMF called for vigilance given strains in financial markets. The push-back came on Fed Chairman Ben Bernanke's last day on the job and two days after the U.S. central bank reduced the pace of its huge asset purchase program. The Fed made the move on Wednesday despite a bruising selloff in emerging markets that was prompted in part by the prospect of less U.S. monetary support. With the turmoil in currencies and stocks spreading into more emerging markets on Friday, Fed officials, addressing the rout for the first time, offered no hint the sell-off would influence their policy stance unless the U.S. economy were threatened.

Source
Economy News Headlines – Yahoo! News

Record Brazil heat pressures crops, energy prices, government

January 31st, 2014

Record Brazil heat pressures crops, energy prices, government

Brazilian vendor sells bottles of drinking water between cars during a warm summer day in Sao PauloThis has been the hottest January on record in parts of Brazil including its biggest city, São Paulo. The heat, plus a severe drought, has kindled fears of water shortages, crop damage and higher electricity bills that could drag down the economy during an election year for President Dilma Rousseff. Weather has been mostly normal in other regions including Brazil's soy belt, where a record crop is still expected. Still, the risks are considerable because Brazil's economy is so fragile at the moment.

Source
Economy News Headlines – Yahoo! News

Will Pike (PIKE) Disappoint this Earnings Season?

January 31st, 2014

Will Pike (PIKE) Disappoint this Earnings Season?
Electric power company, Pike Corp. is set to report fiscal second-quarter 2014 results on Feb 4, after the market closes.
Source
Stock Markets News Headlines – Yahoo! News

U.S. Issues Keystone XL Pipeline Environmental Review

January 31st, 2014

U.S. Issues Keystone XL Pipeline Environmental Review

The report concludes that the production of Canada’s tar-sand crude, which causes more greenhouse gases than other forms, won’t be affected if the pipeline moves forward.

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Economy

Nasdaq briefly turns up; Dow, S&P 500 cut losses

January 31st, 2014

Nasdaq briefly turns up; Dow, S&P 500 cut losses

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) – The Nasdaq briefly turned positive in afternoon trading on Friday, while the Dow and S&P 500 sharply cut losses, helped by gains in shares of Google and as bargain hunters stepped in following recent heavy selling. Google shares gained 4.3 percent to $1,184.08 after reporting stronger-than-expected quarterly revenue after the bell on Thursday. The Dow Jones industrial average fell 73.35 points or 0.46 percent, to 15,775.26, the S&P 500 lost 3.03 points or 0.17 percent, to 1,791.16 and the Nasdaq Composite dropped 4.72 points or 0.11 percent, to 4,118.405. …

Source
Stock Markets News Headlines – Yahoo! News

SEC panel advises against study to widen tick sizes for small firms

January 31st, 2014

SEC panel advises against study to widen tick sizes for small firms
WASHINGTON (Reuters) – A regulatory advisory panel on Friday urged the U.S. Securities and Exchange Commission not to launch a test program that would allow the stocks of small-cap companies to trade…


Source
Reuters: Money

Detroit finance plan distributes pain unequally among claimants

January 31st, 2014

Detroit finance plan distributes pain unequally among claimants
DETROIT (Reuters) – Detroit has circulated a plan for its finances that would require concessions from pension funds, seek reduced payments to some bondholders, and declare that a major interest-rate…


Source
Reuters: Money

Your money: New real estate rules for 2014

January 31st, 2014

Your money: New real estate rules for 2014
NEW YORK (Reuters) – When the housing bubble burst, a damage-control mentality replaced decades of conventional real estate wisdom.


Source
Reuters: Money

Peters, ex-Morgan Stanley strategist, set to join Prudential Investments

January 31st, 2014

Peters, ex-Morgan Stanley strategist, set to join Prudential Investments
(Reuters) – Gregory Peters, the former Morgan Stanley chief global asset strategist who sounded an early alarm about the financial crisis, is set to join Prudential Investments as a portfolio…


Source
Reuters: Money

Emerging market stock funds worldwide post $6.4 billion outflow: BofA

January 31st, 2014

Emerging market stock funds worldwide post $6.4 billion outflow: BofA
NEW YORK (Reuters) – Fund investors worldwide pulled $6.4 billion out of emerging market stock funds in the week ended January 29, marking their biggest outflows since August 2011, data from a Bank…


Source
Reuters: Money