Markets
Federal Reserve leaves key policy rate unchanged
- May 08, 2017
The Fed kept interest rates unchanged at its two-day policy meeting on Wednesday and emphasized the strength of the labor market in its subsequent statement - a sign it was still on track for two more rate rises this year. The Fed has indicated that policymakers don't want to raise rates and alter the investment policy at the same time, increasing the chances that markets will respond to the balance sheet reduction without a hitch. (more...)
- May 08, 2017
The Fed kept interest rates unchanged at its two-day policy meeting on Wednesday and emphasized the strength of the labor market in its subsequent statement - a sign it was still on track for two more rate rises this year. The Fed has indicated that policymakers don't want to raise rates and alter the investment policy at the same time, increasing the chances that markets will respond to the balance sheet reduction without a hitch. (more...)
Canada's Jobless Claim Rate falls 0.2% In April
- May 08, 2017
The report said non-farm payroll employment jumped by 211,000 jobs in April after climbing by a downwardly revised 79,000 jobs in March. Expectations were for 190,000 new jobs and an unemployment rate of 4.5%. US Labor Force Participation Rate, 2007-2017. Among other important data released in the report are jobs added and lost in major industries. It's too early to tell if the job creation trend will continue, but as the economy gets stronger, things are looking up. (more...)
- May 08, 2017
The report said non-farm payroll employment jumped by 211,000 jobs in April after climbing by a downwardly revised 79,000 jobs in March. Expectations were for 190,000 new jobs and an unemployment rate of 4.5%. US Labor Force Participation Rate, 2007-2017. Among other important data released in the report are jobs added and lost in major industries. It's too early to tell if the job creation trend will continue, but as the economy gets stronger, things are looking up. (more...)
Puerto Rico To Request Bankruptcy Protection
- May 08, 2017
In a move by the Federal government that the Wall Street Journal describes as "unprecedented", a federal oversight board created by the U.S. Congress is putting the Commonwealth of Puerto Rico under bankruptcy protection, invoking what is known as "Title III". (more...)
- May 08, 2017
In a move by the Federal government that the Wall Street Journal describes as "unprecedented", a federal oversight board created by the U.S. Congress is putting the Commonwealth of Puerto Rico under bankruptcy protection, invoking what is known as "Title III". (more...)
North Korea Detains Fourth American Citizen Amid Rising Diplomatic Tensions
- May 08, 2017
It added that Kim was "under detention by a relevant law enforcement body which is conducting detailed investigation into his crimes". The Pyongyang university is the only privately funded university in North Korea and is unique for having a large number of foreign staff. (more...)
- May 08, 2017
It added that Kim was "under detention by a relevant law enforcement body which is conducting detailed investigation into his crimes". The Pyongyang university is the only privately funded university in North Korea and is unique for having a large number of foreign staff. (more...)
Warren Buffett: Shares 'number one problem with mankind'
- May 08, 2017
Buffett said flawed compensation is also a problem for hedge-fund managers, arguing that people would be better off sticking their money in a low-priced index fund. Buffett has said Berkshire could have a new chief executive within 24 hours if he died or could not continue, and that nothing had changed just because he praised fewer managers than usual in his February shareholder letter. (more...)
- May 08, 2017
Buffett said flawed compensation is also a problem for hedge-fund managers, arguing that people would be better off sticking their money in a low-priced index fund. Buffett has said Berkshire could have a new chief executive within 24 hours if he died or could not continue, and that nothing had changed just because he praised fewer managers than usual in his February shareholder letter. (more...)
AkzoNobel rejects 3rd PPG Industries takeover bid
- May 08, 2017
AkzoNobel said its executives met with PPG over the weekend, but the company has nevertheless concluded it favours its own strategy to accelerate growth and value rather than a takeover. Among the options being considered by Akzo is talking to PPG only about some of the issues that would affect the deal, such as antitrust approval risk, or rejecting it outright without any engagement, the sources said. (more...)
- May 08, 2017
AkzoNobel said its executives met with PPG over the weekend, but the company has nevertheless concluded it favours its own strategy to accelerate growth and value rather than a takeover. Among the options being considered by Akzo is talking to PPG only about some of the issues that would affect the deal, such as antitrust approval risk, or rejecting it outright without any engagement, the sources said. (more...)
North Korea detains another USA citizen amid rising tensions, state media reports
- May 08, 2017
The KCNA said that related authorities are conducting detailed investigation into his alleged crimes. According to state media, Kim Hak Song had traveled to the country to work with the Pyongyang University of Science and Technology (PUST) and has been described as "a Christian missionary who meant to start an experimental farm at PUST". (more...)
- May 08, 2017
The KCNA said that related authorities are conducting detailed investigation into his alleged crimes. According to state media, Kim Hak Song had traveled to the country to work with the Pyongyang University of Science and Technology (PUST) and has been described as "a Christian missionary who meant to start an experimental farm at PUST". (more...)
His support for black colleges remains 'unwavering'
- May 08, 2017
In February of this year, I signed an Executive Order pledging to strengthen the capacity of HBCUs to provide the highest-quality education; to ensure equitable opportunities for HBCUs to participate in Federal programs; and to increase the number of college-educated Americans who feel empowered and able to advance the common good at home and overseas. (more...)
- May 08, 2017
In February of this year, I signed an Executive Order pledging to strengthen the capacity of HBCUs to provide the highest-quality education; to ensure equitable opportunities for HBCUs to participate in Federal programs; and to increase the number of college-educated Americans who feel empowered and able to advance the common good at home and overseas. (more...)
U.S. created 211000 jobs in April, unemployment at its lowest since 2007
- May 08, 2017
A survey by payroll processor ADP released Wednesday showed the private sector adding 177,000 jobs in April, slightly topping expectations, while another survey by professional networking site LinkedIn released the same day suggested that April was the strongest month for hiring in almost two years . (more...)
- May 08, 2017
A survey by payroll processor ADP released Wednesday showed the private sector adding 177,000 jobs in April, slightly topping expectations, while another survey by professional networking site LinkedIn released the same day suggested that April was the strongest month for hiring in almost two years . (more...)
Puerto Rico faces uncertain future as debt saga unfolds
- May 08, 2017
The process called Title III, created by a USA law enacted past year to help Puerto Rico emerge from its debt crisis, allows the government to use the courts to cut debt amassed by more than a dozen agencies, sometimes with conflicting claims on the island's cash. (more...)
- May 08, 2017
The process called Title III, created by a USA law enacted past year to help Puerto Rico emerge from its debt crisis, allows the government to use the courts to cut debt amassed by more than a dozen agencies, sometimes with conflicting claims on the island's cash. (more...)
Chinese export, import growth slow in April as rebound cools
- May 08, 2017
Imports have accelerated this year as China's state energy giants pump less crude after last year's price crash forced them to cut spending on the country's mature, high-cost fields. China's trade surplus with the USA was $21.34 billion in April, up from $17.74 billion in March, according to data from China's customs bureau. "Overall, China's exports were weaker than expected, but they're still OK", said Macquarie Group Ltd. (more...)
- May 08, 2017
Imports have accelerated this year as China's state energy giants pump less crude after last year's price crash forced them to cut spending on the country's mature, high-cost fields. China's trade surplus with the USA was $21.34 billion in April, up from $17.74 billion in March, according to data from China's customs bureau. "Overall, China's exports were weaker than expected, but they're still OK", said Macquarie Group Ltd. (more...)
AAP has lost its anti-corruption plank: Delhi Cong
- May 08, 2017
Mishra, who was Delhi's water resources minister before being sacked, had sided with another top leader Kumar Vishwas in his fight with Kejriwal before the two called truce. The AAP, on its part, has denied all the allegations. He added he was the only minister in the Kejriwal government who has no corruption charges against him. (more...)
- May 08, 2017
Mishra, who was Delhi's water resources minister before being sacked, had sided with another top leader Kumar Vishwas in his fight with Kejriwal before the two called truce. The AAP, on its part, has denied all the allegations. He added he was the only minister in the Kejriwal government who has no corruption charges against him. (more...)
Stock Roundup: Ascena Retail Group Inc. (ASNA)
- May 08, 2017
The New Jersey-based Gargoyle Invest Advisor Limited Liability Corporation has invested 0.17% in Greenbrier Companies Inc (NYSE:GBX). Yet another important factor while evaluating a good buy/sell decision for Ascena Retail Group Inc. Ascena Retail Group Inc (NASDAQ:ASNA) has earned a consensus recommendation of "Hold" from the nine research firms that are presently covering the stock. (more...)
- May 08, 2017
The New Jersey-based Gargoyle Invest Advisor Limited Liability Corporation has invested 0.17% in Greenbrier Companies Inc (NYSE:GBX). Yet another important factor while evaluating a good buy/sell decision for Ascena Retail Group Inc. Ascena Retail Group Inc (NASDAQ:ASNA) has earned a consensus recommendation of "Hold" from the nine research firms that are presently covering the stock. (more...)
Wells Fargo says agrees with Warren Buffett and is fixing its problems
- May 08, 2017
He said the company had too much cash it could not reasonably deploy. Buffett said Saturday that flawed compensation systems - such as the arrangement that rewarded Wells Fargo employees for meeting aggressive sales goals - are a periodic problem for companies, and can promote the wrong behavior. (more...)
- May 08, 2017
He said the company had too much cash it could not reasonably deploy. Buffett said Saturday that flawed compensation systems - such as the arrangement that rewarded Wells Fargo employees for meeting aggressive sales goals - are a periodic problem for companies, and can promote the wrong behavior. (more...)
Oil recovers after Saudi Arabia says Russia will agree to supply cuts
- May 08, 2017
The two ETFs will gain exposure to the benchmark by investing in listed futures contracts for West Texas Intermediate sweet, light crude oil futures contracts. Absolutely nothing - USA oil production has risen over 10% since mid-2016 to 9.3 million bpd, levels not far away from top producers Russian Federation and Saudi Arabia . (more...)
- May 08, 2017
The two ETFs will gain exposure to the benchmark by investing in listed futures contracts for West Texas Intermediate sweet, light crude oil futures contracts. Absolutely nothing - USA oil production has risen over 10% since mid-2016 to 9.3 million bpd, levels not far away from top producers Russian Federation and Saudi Arabia . (more...)
North Korea detains another American citizen, KCNA reports
- May 08, 2017
The other two detained USA citizens "are already serving prison terms, with hard labor, for alleged "anti-state acts" and 'espionage, '" Lauren adds. If confirmed, he would be the fourth U.S.citizen to be held by the isolated country amid diplomatic tensions. (more...)
- May 08, 2017
The other two detained USA citizens "are already serving prison terms, with hard labor, for alleged "anti-state acts" and 'espionage, '" Lauren adds. If confirmed, he would be the fourth U.S.citizen to be held by the isolated country amid diplomatic tensions. (more...)
Ky. man forcibly removed from flight reaches settlement with United
- May 08, 2017
The settlement comes as United promised earlier Thursday to increase the limit - to $10,000 - on payments to customers who give up seats on overbooked flights, reduce the number of oversold flights and improve employee training. "Occasionally, operational challenges will have our airport-based employees asking for volunteers, but that will happen much less frequently because overbooking to customers in advance will be off the table as a consideration", Kelly said, according to USA Today . (more...)
- May 08, 2017
The settlement comes as United promised earlier Thursday to increase the limit - to $10,000 - on payments to customers who give up seats on overbooked flights, reduce the number of oversold flights and improve employee training. "Occasionally, operational challenges will have our airport-based employees asking for volunteers, but that will happen much less frequently because overbooking to customers in advance will be off the table as a consideration", Kelly said, according to USA Today . (more...)
Google reports 28% profit increase boosted by ad sales
- May 08, 2017
Mark Mahaney, analyst at RBC Capital, said: "We believe the renegotiated Apple contract has something to do with this, but also a heavier share from mobile vs. The company's profit grew 29 percent to $5.43 billion in the first quarter of FY 17 from $4.21 billion, a year earlier. Alphabet Inc., formerly known as Google Inc., is headquartered in Mountain View, California. (more...)
- May 08, 2017
Mark Mahaney, analyst at RBC Capital, said: "We believe the renegotiated Apple contract has something to do with this, but also a heavier share from mobile vs. The company's profit grew 29 percent to $5.43 billion in the first quarter of FY 17 from $4.21 billion, a year earlier. Alphabet Inc., formerly known as Google Inc., is headquartered in Mountain View, California. (more...)
Mexican Economy Maintains Growth in First Quarter
- May 08, 2017
Reduced business investment in inventories and government spending cuts also crimped gross domestic product growth. The strongest growth came from the manufacturing sector as the fall in the value of the pound after June's Brexit referendum boosted United Kingdom exports. (more...)
- May 08, 2017
Reduced business investment in inventories and government spending cuts also crimped gross domestic product growth. The strongest growth came from the manufacturing sector as the fall in the value of the pound after June's Brexit referendum boosted United Kingdom exports. (more...)
United States economy likely slowed last quarter, but rebound expected
- May 08, 2017
The main factor behind the latest slowdown: Sluggish consumer spending. That followed the fourth quarter's robust 3.5 percent growth rate. Although, Rain Newton-Smith, CBI Chief Economist had this to say: "GDP growth has eased compared to the second half of previous year, with weakness particularly apparent in consumer-facing services". (more...)
- May 08, 2017
The main factor behind the latest slowdown: Sluggish consumer spending. That followed the fourth quarter's robust 3.5 percent growth rate. Although, Rain Newton-Smith, CBI Chief Economist had this to say: "GDP growth has eased compared to the second half of previous year, with weakness particularly apparent in consumer-facing services". (more...)
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OPEC has cut oil output by 1.25 mbpd in June