Archive for March, 2015

Wall St. earnings estimates may not foretell currency impact

March 31st, 2015

Wall St. earnings estimates may not foretell currency impact

Photo illustration of U.S. dollar notes displayed in JohannesburgAn early example to watch is Monsanto Co , which reports results on Wednesday, April 1 for its fiscal quarter ended Feb. 28. On Jan 7, before the dollar's biggest moves of the quarter, the company said currency issues would reduce its 2015 earnings by between 15 cents and 20 cents, similar to 2014, when the dollar rose 12.8 percent against a basket of major currencies. At Monsanto, for example, other factors such as an improving outlook for corn planting may help offset currency losses, said Paul Massoud, analyst at Stifel. “The rapid devaluation of nearly every foreign currency versus the U.S. dollar is not news, yet surprisingly only about 30 percent of the sell-side analysts who follow Red Hat have updated their models at current rates,” said Charles Peters, the CFO.

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Stock Markets News Headlines – Yahoo! News

US STOCKS-Wall St retreats but S&P, Nasdaq post quarterly gains

March 31st, 2015

US STOCKS-Wall St retreats but S&P, Nasdaq post quarterly gains
U.S. stocks ended down on Tuesday in a retreat from the previous session’s sharp rally as energy shares declined and the dollar edged up, but the S&P 500 and Nasdaq registered their ninth straight quarterly rise. The S&P’s 500 quarterly winning streak was its longest since 1998, while the Nasdaq’s was its longest ever. S&P 500 earnings are expected to have declined by 2.8 percent in the first quarter from a year ago, Thomson Reuters data showed. The Dow Jones industrial average fell 200.19 points, or 1.11 percent, to 17,776.12, the S&P 500 lost 18.35 points, or 0.88 percent, to 2,067.89 and the Nasdaq Composite dropped 46.56 points, or 0.94 percent, to 4,900.88.
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Stock Markets News Headlines – Yahoo! News

China needs more currency reform to meet IMF standard-U.S. official

March 31st, 2015

China needs more currency reform to meet IMF standard-U.S. official
SAN FRANCISCO, March 31 (Reuters) – The United States feels China’s yuan does not yet meet the standards for inclusion in the International Monetary Fund’s basket of global currencies, Treasury…


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Reuters: US Dollar Report

CANADA FX DEBT-C$ rises as economy contracts less than expected

March 31st, 2015

CANADA FX DEBT-C$ rises as economy contracts less than expected
* Canadian dollar at C$1.2666 or 78.95 U.S. cents * Bond prices mixed across the maturity curve (Updates to close) By Andrea Hopkins TORONTO, March 31 (Reuters) – The Canadian dollar strengthened…


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Reuters: US Dollar Report

Swiss asset manager pleads guilty in U.S. over tax dodge scheme

March 31st, 2015

Swiss asset manager pleads guilty in U.S. over tax dodge scheme
NEW YORK (Reuters) – A Swiss asset manager pleaded guilty on Tuesday to participating in a scheme to help U.S. citizens hide millions of dollars in Swiss bank accounts and evade paying taxes.


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Reuters: Money

Wells Fargo gets U.S. approval to use internal models for capital

March 31st, 2015

Wells Fargo gets U.S. approval to use internal models for capital
WASHINGTON (Reuters) – Wells Fargo won regulatory approval on Tuesday from federal banking regulators to use its own tailored risk models for determining its capital requirements.


Source
Reuters: Money

Berkshire's Buffett says Grexit 'may not be bad' for euro zone: CNBC

March 31st, 2015

Berkshire's Buffett says Grexit 'may not be bad' for euro zone: CNBC
NEW YORK (Reuters) – Warren Buffett, the billionaire chief executive officer and chairman of Berkshire Hathaway Inc, said Tuesday that an exit by Greece from the euro zone could be constructive for…


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Reuters: Money

S&P 500 Earnings vs U.S. Economy: Market's March Madness – ValueWalk

March 31st, 2015

S&P 500 Earnings vs U.S. Economy: Market's March Madness – ValueWalk


ValueWalk
S&P 500 Earnings vs U.S. Economy: Market's March Madness
ValueWalk
With the NCAA Final Four set, we share our own Final Four for stock market investing: economy, earnings, technicals, and valuations. With valuations above average and the economy slowing during first quarter of 2015, our championship game comes down …

and more »

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economy markets – Google News

FMIC & UA&P: PHL economy may have grown 6.5% – 7% in 1Q

March 31st, 2015

FMIC & UA&P: PHL economy may have grown 6.5% – 7% in 1Q
The Philippine economy may have grown 6.5 percent to 7 percent in the first quarter, supported mainly by lower oil prices. “Inflation rate averaging 2.5% in Q1, pulled down by weak oil prices, should support the country’s growth,” First metro Investments Corp. (FMIC) & University of Asia and the Pacific (UA&P) Capital Markets Research report said. In the March issue of The Market Call report …
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economy markets – Yahoo News Search Results

Here’s why more Wall Streeters are heading to Silicon Valley

March 31st, 2015

Here’s why more Wall Streeters are heading to Silicon Valley

Here’s why more Wall Streeters are heading to Silicon ValleyGetty Images/Chip Somodevilla Ruth Porat. Last week, Morgan Stanley’s chief financial officer of four years, Ruth Porat, announced she plans to join Google as its new CFO. She’s not the only one leaving Wall Street and heading to Silicon Valley. Goldman Sachs has lost several top people to West Coast tech companies over the past few years, including Anthony Noto and Sarah Friar. Noto took over as Twitter’s CFO, and Friar left for Salesforce and is now the CFO at Square.  It’s not just veterans who are making a change; more elite college graduates and MBAs are foregoing pinstripes and moving West. Only 10% of MIT undergraduates went into finance last year, according to a recent New York Times article — a startlingly drop from the 31% who took Wall Street jobs in 2006. “Software companies, meanwhile, hired 28% of graduates in 2014, compared with 10% in 2006,” it reports. Similarly, in 2014 San Francisco and the Bay Area drew slightly more Harvard Business School graduates than New York. Why are so many people headed to the Valley? “Young grads, as a general rule, are going to follow opportunity,” says Scott Rostan, who began his professional career with Merrill Lynch and now teaches investment banking and financial modeling courses at UNC Kenan-Flagler Business School. “If the opportunity for jobs are on Wall Street, they’re going to go that way. If they’re perceived to be in Silicon Valley technology companies, they’re going to go that way.” And while Wall Street may be known for its fat bonuses, tech companies are paying huge sums to attract top people. The Brookings Institution recently released a report showing the top 5% of earners in San Francisco far exceed the top incomes in other major US cities, making at least $423,000 a year. Beyond just economic opportunity, Wall Street may be leaking talent in the aftermath of the 2008 recession, Rostan says. “There still is a perception problem from the financial crisis that Wall Street is a more challenging environment. They still have that dark cloud, whereas a hot technology startup sounds awesome and exciting.“  Justin Sullivan/Getty Many Wall Streeters are trading in suits for hoodies. And for the older set who cut their teeth on Wall Street, Silicon Valley may offer the promise of a healthier lifestyle. Over the past 20 years, Rostan has observed that the Wall Street vets who switch careers are usually making “a lifestyle choice.”  “Wall Street right now is under a lot of regulatory scrutiny,” he says, “and there are a lot of pressures on them that are outside of their individual day-to-day control. Going to a high-profile technology company can be more liberating and freeing because you can then be creative instead of reactionary.”  Wall Street banks are notorious for their 100-hour weeks and grueling work experiences. While many Silicon Valley startups and established tech companies also require long hours, they maintain a reputation for innovation, creative freedom, and meaningful work.  In Google’s announcement that Porat would be joining the company, she said: “Growing up in Silicon Valley, during my time at Morgan Stanley, and as a member of Stanford’s Board, I’ve had the opportunity to experience firsthand how tech companies can help people in their daily lives. I can’t wait to roll up my sleeves and get started.” NOW WATCH: 14 things you didn’t know your iPhone headphones could do Please enable Javascript to watch this video Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.

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Stock Markets News Headlines – Yahoo! News