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Tuesday, November 23, 2010

Economy in U.S. Grew 2.5% in Third Quarter

The U.S. economy grew faster than estimated in the third quarter, led by stronger consumer spending and fueled by increased earned income that can stoke demand in 2011. The revised 2.5 percent increase in gross domestic product compared with 2 percent estimate issued last month and increased 1.7 percent in the second quarter, Commerce Department figures showed today in Washington. Consumer purchases rose at its fastest pace since the last quarter of 2006. wages of workers in the six months to September were revised by approximately $ 59 million, giving the Americans can ramp up their spending ahead of Christmas shopping season. Along with gains in business investment in new equipment, the figures show an expansion in evolution brought more demand and less by the replenishment of inventories. "You...

Wages and salaries in the second quarter rose almost double previous estimates

Wages and salaries in the second quarter rose almost double previous estimates, indicating the U.S. economy may have created more jobs. Pay jumped by 97.4 billion U.S. dollars at an annual rate in the first quarter, compared with a previously reported 51.1 billion U.S. dollars of profit, revised figures for the Commerce Department showed today in Washington. The data reflect a more complete explanation of employment and income that was available to the Department of Labor in the tabulation of the monthly job. "There was a bit more employment of the monthly payroll survey certainly suggested," said Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Connecticut, in an interview. While bonus payments may have been responsible for similar reviews in previous years, reflecting...

Gold Rises Most in Two Weeks on Haven Demand

Gold jumped more than two weeks to demand for a haven in the midst of the crisis in Europe of sovereign debt and rising tensions between North and South Korea. The euro headed for the biggest drop since August against the dollar in the credit markets focused on the deficit in Spain and Portugal, after Ireland requested a rescue package. North Korea fired artillery shells near the border of South Korea in the deadliest attack in at least eight months. Gold has gained 26 percent this year, reaching a record $ 1424.30 an ounce on November 09. "People are shedding risk and go to the assets of flight to quality like gold," said Matthew Zeman, a metals trader at LaSalle Futures Group in Chicago. "People are brutally sell the euro on fears of contagion and the Korean conflict." Gold futures for...

Falling UK Stocks as North Korea Shells Neighbor

UK stocks fell, sending the FTSE 100 lower for a third day after North Korea fired artillery shells in South Korea and inflation concerns led Chinese shares lower. Standard Chartered Plc lost 2.7 percent. Bank of Ireland Plc and Allied Irish Banks Plc fell for a second day in Ireland. BHP Billiton Ltd., the world's largest mining company, and Rio Tinto Group declined at least 2.2 percent. The benchmark FTSE 100 fell 99.55, or 1.8 percent, to 5581.28 at the close at 4:30 pm in London, the worst performance for three days from 1 July. The FTSE All-Share Index dropped 1.7 percent, while the Irish ISEQ Index fell 3.4 percent. South Korean fighter jets scrambled and returned fire after North Korea fired dozens of shells in the water and on an island, killing two soldiers. Television footage...

U.S. stocks fell for a second day after fighting broke out between North and South Korea

U.S. stocks fell for a second day after fighting broke out between North and South Korea and raised concerns that Europe's crisis of debt and China's efforts to tame inflation will slow global economic recovery. PulteGroup Inc. and D.R. Horton Inc., the two largest U.S. builders, fell at least 3.1 percent after a report showed home sales trailed estimates. Adobe Systems Inc. fell 3.4 percent after Morgan Stanley said analysts' estimates for the first half of fiscal year 2011 may be too high. Brocade Communications Systems Inc fell 9.8 percent as the largest manufacturer of switches for data storage networks forecast earnings that missed analysts' estimates. 500 Standard & Poor's fell 1.5 percent to 1180.09 as of 14:37 in New York, and earlier fell 1.8 percent, the most since Aug. 11....

Federal Reserve policy makers disagreed on monetary expansion

Federal Reserve policy makers disagreed on monetary expansion to stimulate record this month, with most seeing a boost to growth and employment and a minority concerned about risks to inflation and the dollar. Most officials at the meeting of November 2 to 3 additional purchases of securities was the maintenance of low asset prices and boosting interest rates, the Fed said in minutes of the meeting released today in Washington. The Fed also said it is considering ways to improve communication with public information meetings, as the initiation of the press by President Ben S. Bernanke. The report highlights the tension within the Federal Reserve's decision to buy 600 billion U.S. dollars of Treasury bonds, which has since attracted criticism from Republican politicians in the country and...

Stocks Drop, Dollar Gains on Korea Clash

The shares plunged, dragging the MSCI Emerging Markets Index over five months, while the dollar and the Swiss franc rallied as the fight broke out between North and South Korea and Europe raised concern to the debt crisis spread. Copper slid as China banks came to the loan limits. The MSCI index of shares in developing countries lost 2.6 percent to 500 from Standard & Poor's fell 1.5 percent at 2:11 pm in New York. The dollar and the franc appreciated against most of its peers. South Korean won slid forward over six months. yields on ten-year bond fell 4 basis points, while protecting the credit default swaps on European government debt rose to a record. Copper, lead and zinc fell, while gold advanced. U.S. equities European shares continued lower after South Korea scrambled fighter...

The euro fell below $ 1.34 for the first time since September

The euro fell below $ 1.34 for the first time since September, German Chancellor Angela Merkel said the 16-nation currency is in an "extremely serious" situation after Ireland asked for a bailout. The yen rallied against the Australian dollar and Canadian and North and South Korea exchanged gunfire, encouraging investors to seek refuge. The dollar remained lower against the yen as Federal Reserve minutes showed some policy makers were concerned about the impact of quantitative easing in the U.S. currency. The euro fell against all of its partners in addressing concerns in turn, to Portugal and Spain, the cost of insuring bank debt of nations...

Wellington received a request for documents from federal investigators

Wellington Management Co. received a request for documents from federal investigators looking for inside information, according to a person familiar with the matter. Janus Capital Group Inc. also requested information. Wellington, said in an internal conference call yesterday that the company is conducting a review of records, and did not participate in illegal trade, according to the person, who requested anonymity because the company is headquartered in Boston Private. Janus, based in Denver, said today that it received a request for "general information and intends to cooperate fully with the investigation." Federal officials, led by U.S. Preet Bharara Attorney in Manhattan are investigating whether money managers may have benefited from inside information, or purchase and sale based...

Kinder Morgan Files for IPO of up to $1.5 Billion

Kinder Morgan Inc., the pipeline company based in Houston privatized in a purchase of 22 billion U.S. dollars of leverage three years ago, plans to raise up to U.S. $ 1.5 billion in an initial public offering. Kinder Morgan to turn his father, Kinder Morgan Holdco LLC, a corporation, a limited liability company and change the name Kinder Morgan Inc., the company said in a statement. Kinder Morgan participants Holdco will become new shareholders of Kinder Morgan Inc. The company now known as Kinder Morgan Inc., registered in Kansas, will change its name to Kinder Morgan Inc. of Kansas "It seems that the market has been very receptive to IPOs,...

U.S. stocks holds losses after minutes from the last Federal Reserve meeting

U.S. stocks holds losses after minutes from the last Federal Reserve meeting showed policy makers were not agreed to extend the monetary stimulus registration. 500 of Standard & Poor's fell 1.5 percent to 1,179.51 at 2:05 pm in New York. The Dow Jones Industrial Average fell 160.75 points, or 1.4 percent, at 11,017.83. Most Fed officials at the meeting of November 2 to 3 additional purchases of securities was the maintenance of asset prices, low interest rates and boost, the Fed said in minutes of the meeting released today Washington. The Fed also said it is considering ways to improve communication with the public, such as press conferences started by President Ben S. Bernanke. The S & P 500 has fallen 3.8 percent since reaching a maximum of two years on 5 November amid concern...

La Nina Cooling May Mean More Snow and Storms, Higher Fuel Prices for U.S.

Snowstorms, droughts, floods and hurricanes increased in the store can be a cooling trend in the Pacific known as La Niña changes the climate around the world and threatens to raise fuel prices for heating and crops. The possibility of stormy months ahead to the northern U.S. may bring some volatility to the natural gas market in the coming weeks, said Cameron Horwitz, an analyst at Canaccord Genuity Inc. in Houston. In 1995, after one of the seasons most active Atlantic hurricane in history, a girl in combination with other weather patterns to achieve one of the snowiest winters in New York and New England, according to the National Oceanic and Atmospheric Administration records. prices of heating oil jumped 14 percent and natural gas rose 52 percent this year. The next winter, "can get...

Crude oil fluctuated

Crude oil fluctuated, recovering from losses after non-violation of technical support near $ 80 a barrel, the dollar strengthened on concern that the debt crisis of Europe, will affect economic growth. Oil hit $ 80.28 as the dollar gained the most since August, curb appeal commodities as an alternative investment. The operators asked the U.S. currency as a refuge for the crisis in Europe and then North Korea and South exchanged gunfire. U.S. probably report tomorrow that oil supplies fell last week for the third time in a row. "There is a defense of the $ 80 mark going," said Tim Evans, energy analyst at Citi Futures Perspective in New York....

Nigeria Central Bank kept its interest rate unchanged and raised the deposit rate

Nigeria Central Bank kept its benchmark interest rate unchanged and raised the deposit rate, as it seeks to bring inflation below 10 percent. The policy rate remained at 6.25 percent, Lamido Sanusi, Governor of Central Bank of Nigeria, told reporters today in Abuja, the capital. The lending rate rose one percentage point to 4.25 percent while interest rates remained at 8.25 percent, he said. "The decision was close," with policy-makers vote of six to four to leave the key rate on hold, Sanusi said. "It could have gone either." Inflation was little changed at 13.4 percent last month, compared with 13.6 percent the previous month and the central bank's target of less than 10 percent. The persistence of high inflation remains a challenge, Sanusi said, while reaffirming the bank's commitment...

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