Facebook Inc. introduced an email service for users

Facebook Inc. introduced an email service for users of its social networking site, intensifying competition with Google Inc., Yahoo Inc. and Microsoft Corp. Facebook is giving all users a "facebook.com @" email address, Mark Zuckerberg, the company's CEO, said today at an event in San Francisco. The new service will include text messaging and instant messaging, as well as traditional email. By adding e-mail, Palo Alto, California, Facebook offers an alternative to Google's Gmail, the fastest growing service web mail in the last year. It also increases pressure on Microsoft and Yahoo, who are competing for the attention of Web users who rely more on social sites, and contact information with friends. "This is not a murderer-mail," said Zuckerberg. "Maybe we can help push messaging is to...

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The automobile and the truck is gaining the confidence of bond investors

The automobile and the truck is gaining the confidence of bond investors as sales soar and General Motors prepares an initial public offering of shares this week. Yields on securities tied to car sales have dropped to 80 basis points more than the reference exchange rate of 95 basis points three months ago, according to Barclays Capital. Spreads on bonds linked to consumer debt such as credit cards and student loans, remained unchanged at 73 basis points. The increased appetite for the debt means that automakers and their finance units can more easily raise money to make loans, helping sales of cars and trucks and potentially boost its solvency. Global sales of light vehicles, can increase to 71.1 million this year, according to JD Power & Associates in Troy, Michigan, surpassing the...

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budget deficit of $ 25 billion according to California

California is selling $ 10 billion tickets a year to boost cash on hand, as the state that produces 13 percent of the U.S. Gross domestic product is to assure investors that can repay the loan in the midst of a budget deficit of $ 25 billion. Investors offered $ 2 billion of bonds maturing in May in the provisional returns of 1 percent to 1.25 percent, according to two people familiar with the offer. That's about 0.58 to 0.83 percentage points more than top-level municipal bonds one year from November 12, according to Municipal Market Advisors. The $ 8 billion of bonds maturing in June was trading at 1.25 percent to 1.5 percent, or about 0.83 to 1.08 percentage points more than top-rated notes. The problem comes after the state Legislative Analyst's Office said the California deficit may...

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Avoid Currency Controls & keeping currency gains from damaging their economies

At a time when nations from Japan to Brazil are struggling to maintain foreign exchange earnings of damaging their economies, Reserve Bank of Australia governor Glenn Stevens welcomes a stronger exchange rate. Australia dollar has advanced 19 percent since late June, most of the 16 major currencies followed by data  reaching parity with U.S. dollar last month for the first time since July 1982. The rally may help curb inflation, sales of iron ore and coal to China bring less local dollars. When Stevens surprised investors by raising interest rates on 2 November, said in a statement that the increase in the money "will help, at the margin, in the containment of inflation pressure." Stevens is allowing gains, while Japan sold yen for the first time since 2004, and Brazil, South Korea...

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G-20, the APEC yield little to correct the imbalances stem outflow concerns

The leaders of the world's biggest economies ended four days of talks without taking decisive action to address global imbalances that have fueled asset bubbles and the risk that leads to a protectionist backlash. Asia-Pacific leaders in Japan yesterday pledged to take "concrete steps" toward creating a regional free trade agreement, without setting a target to achieve that goal. The meeting followed the November 11 to 12 Group of 20 in Seoul that "the actions of opposing trade protectionism," while failing to agree on a remedy to the distortions of trade and investment. The officers entered the G-20 pledged to reduce global trade friction by agreeing not to weaken its currency to boost exports. Once there, the U.S. and China took turns blaming others for the exchange rate policy, with President...

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China could overtake U.S. in 2020 .

China will overtake the U.S. to become the largest economy in 2020, helped by a more rapid expansion and an appreciation of its currency, according to Standard Chartered Plc. "We believe the world is in a" super-cycle "of sustained high growth," economists led by Gerard Lyons, said in a report released today. "The magnitude of change in the next 20 years will be enormous." China's economy will be twice as large as the United States in 2030 and represent 24 percent of world output, compared with 9 percent today, "Lyons said in the super-cycle 152-page report. India will surpass Japan as the third largest economy in the next decade, according to the report. Goldman Sachs Group Inc. estimates that China will overtake the U.S. in 2027. The world may be experiencing its third "super-cycle",...

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The euro could fall as low as $ 1.31 if the problems of sovereign debt climbing , Nomura's Nordvig Says

The concern that some European countries will have difficulty paying their debt has pushed the euro by 12 percent against the dollar since 2008 and can be pushed even lower, according to Nomura Holdings Inc. The euro could fall as low as $ 1.31 if the problems of sovereign debt climbing, Jens Nordvig, managing director of currency research at Nomura in New York, wrote in a note to clients. The present crisis represents a premium of 12 percent of currency risk, Nordvig wrote, quoting Nomura model. The 16-nation currency fell 0.5 percent to $ 1.3619 in New York today, near a six-week low of $ 1.3574 reached on 12 November. While it has fallen 4.9 percent against the dollar this year has increased by 14 percent from a low of 2010 on June 7 by the concern that a new round of program buying bonds...

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U.S. stocks may rise 15 percent in the next 12 months

Legg Mason Inc. 's Bill Miller said U.S. stocks could increase 15 percent over the next 12 months, the Federal Reserve is continuing efforts to inflate asset prices and boosting the economy. "The Fed wants the stock market go up, and they will do whatever it takes to reach the level that is necessary for the wealth effect of stock prices to stimulate growth," Miller wrote in a letter to shareholders released today. Miller, famous for beating the S & P 500 for a record 15 consecutive years until 2005, followed by the U.S. reference for the next three years as it underestimated the gravity of the financial crisis and the stakes in banks and real estate companies failed. He surpassed his peers in 2009 as the stock market recovered from a minimum of 12 years. The decrease in first-class...

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U.S. stocks have returned more than junk bonds after they fled a decade

U.S. stocks have returned more than junk bonds after they fled a decade, valuations have fallen to a record high relative to credit - and investors withdrew more money than ever for equity funds. The Standard & Poor's 500 Index rose 17 percent including dividends since June, compared with 10 percent for the Barclays Capital U.S. Corporate High Yield Index. The gauge of equity is the rate of its gain over six months Bond Index since 1999.At the same time, the rally of more than 120 percent in junk bonds since 1998 has left them more money than ever from stocks based on earnings yields measurement of annual profits as a percentage of the price. "People have gone too far the trade," said Peter Sorrentino, who helps oversee $ 13.8 billion at Huntington Asset Advisors in Cincinnati. "The...

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GM Offering More Week leads to the U.S. IPOs Since Lehman

General Motors Co. 's initial public offering and the sale of four private equity-backed companies are taking the biggest week of IPOs in the U.S. since before the collapse of Lehman Brothers Holdings Inc. Ten companies plan to raise a total of $ 12.5 billion this week, the most since San Francisco, Visa Inc. 's 19.7 billion U.S. dollars sales in March 2008, the largest IPO in U.S. history,  GM, 61 percent owned by the U.S. Treasury can sell $ 10,600,000,000 shares Nov. 17 to help pay his ransom. Carlyle Group and Golden Gate Capital are among private equity firms taking public companies in the deals that could raise $ 1.5 million, offers brochures, he said. While U.S. taxpayers will have a 34 percent loss on sale of treasury shares of GM at the offer price up to $ 29 per share, Carlyle...

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