Archive for December, 2014

Economy struggles as Rousseff begins 2nd term

December 31st, 2014

Economy struggles as Rousseff begins 2nd term

Brazilian President Dilma Rousseff delivers a speech during a ceremony presenting the final report of the National Truth Commission (CNV) in Brasilia, Brazil, on December 10, 2014Brasília (AFP) – Brazil's President Dilma Rousseff will be sworn in for her second term Thursday before thousands of cheering supporters, but any moment of triumph will surely be short lived. The ongoing probe investigation into a huge network of corruption at Petrobras, the state oil firm she used to chair, has tainted many of her allies and weakened her as she turns to the economy. Rousseff won October's hard-fought election thanks to voters reliant on the extensive social welfare programs put in place a decade ago by her Workers Party predecessor Luiz Inacio Lula da Silva. She nevertheless defeated her right-wing rival Aecio Neves, who won over the business community but failed to convince workers that he could revive growth without drastic cuts.

Source
Economy News Headlines – Yahoo! News

REFILE-Argentina to start 2015 with lapdogs, dollar reserves flying high

December 31st, 2014

REFILE-Argentina to start 2015 with lapdogs, dollar reserves flying high
BUENOS AIRES, Dec 31 (Reuters) – Argentina’s dollar reserves and the country’s notoriously spoiled lapdogs will both be flying high as 2015 gets underway, according to President Cristina Fernandez,…


Source
Reuters: US Dollar Report

UPDATE 1-Sony expands 'The Interview' to pay TV, more theaters

December 31st, 2014

UPDATE 1-Sony expands 'The Interview' to pay TV, more theaters
LOS ANGELES, Dec 31 (Reuters) – Sony Pictures Entertainment
on Wednesday added more viewing options for its
controversial comedy “The Interview,” distributing the film on
demand through U.S. pay TV operators and expanding its reach in
independent theaters.
Source
Reuters: Media

Fed forecasting tool calls for immediate rate hike, Plosser says

December 31st, 2014

Fed forecasting tool calls for immediate rate hike, Plosser says

Plosser, president of the Federal Reserve Bank of Philadelphia, attends the Jackson Hole Economic Policy Symposium in Jackson HoleBy Jonathan Spicer (Reuters) – A forecasting tool developed by the Federal Reserve recommends that U.S. interest rates should be hiked immediately to keep pace with the improving economy, according to a paper by the soon-to-retire Philadelphia Fed President Charles Plosser. Plosser, among the minority of hawkish monetary policymakers, co-published research showing the Fed-developed model calls for rates to jump from near zero to 0.5 percent in the fourth quarter of 2014, and to rise to 1.1 percent by the second quarter of 2015. …

Source
Economy News Headlines – Yahoo! News

GLOBAL MARKETS-For 2014, Chinese stocks and dollar were stars, oil big loser

December 31st, 2014

GLOBAL MARKETS-For 2014, Chinese stocks and dollar were stars, oil big loser
* Dollar index on track for best year since at least 2005


Source
Reuters: US Dollar Report

Italy president says will step down soon

December 31st, 2014

Italy president says will step down soon

Italy's President Napolitano waves during a Liberation Day ceremony at the Unknown Soldier's monument in central RomeROME (Reuters) – Italian President Giorgio Napolitano said on Wednesday he planned to step down soon, leaving Prime Minister Matteo Renzi facing his most difficult political challenge since he took power about 10 months ago. Renzi will now have to steer an acceptable candidate through the complicated process of electing a new president, or else raise doubts about his ability to push through economic reforms and planned changes to the constitution and electoral system. …

Source
Economy News Headlines – Yahoo! News

Argentina to start 2015 with lapdogs, dollar reserves flying high

December 31st, 2014

Argentina to start 2015 with lapdogs, dollar reserves flying high
By Hugh Bronstein BUENOS AIRES (Reuters) – Argentina’s dollar reserves and the country’s notoriouslyspoiled lapdogs will both be flying high as 2015 gets underway, according to President Cristina Fernandez, even if the economy remains a mess. The two-term leader focused her year end statement on her Toy Poodle, Lolita, and the fact that recent government efforts to reverse a decline in reserves had worked. On the president’s Facebook page [http://tinyurl. …
Source
Economy News Headlines – Yahoo! News

U.S. bonds set for more modest year after banner 2014

December 31st, 2014

U.S. bonds set for more modest year after banner 2014
NEW YORK (Reuters) – The U.S. bond market could enjoy a solid 2015, but don’t expect a repeat of the spectacular run that some fixed-income sectors enjoyed this year, investors said on Wednesday.


Source
Reuters: Money

Peru central bank tightens rules for derivatives, dollar deposits

December 31st, 2014

Peru central bank tightens rules for derivatives, dollar deposits
LIMA, Dec 31 (Reuters) – Peru’s central bank unveiled tighter rules for currency derivatives and created new reserve requirements for deposits in foreign currencies on Wednesday, part of a bid to…


Source
Reuters: US Dollar Report

CANADA FX DEBT-Loonie firms on the day but sees worst year since 2008

December 31st, 2014

CANADA FX DEBT-Loonie firms on the day but sees worst year since 2008
* Canadian dollar at C$1.1601 or 86.20 U.S. cents * Bond prices higher across the maturity curve (Adds details, quotes, updates prices) By Leah Schnurr OTTAWA, Dec 31 (Reuters) – The Canadian dollar…


Source
Reuters: US Dollar Report