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Friday, December 24, 2010

China's stocks fell driving down the benchmark index of the sixth of seven weeks

China's stocks fell, driving down the benchmark index of the sixth of seven weeks, the refers to a cash deficit will be more difficult for companies to borrow for expansion and new regulations in Beijing can limit sales car. SAIC Motor Corp. fell to its lowest level in four months after the capital of China announced measures to restrict the number of new vehicles. Baoshan Iron & Steel Co. led declines for steelmakers in the prospect of falling car demand would curb earnings. Greenland Yunnan Biological Technology Co. shelter rate for small businesses amid speculation of higher ratios of the banks' reserve requirements, have led to a...

Asian stocks fell driving the benchmark index to its first drop in four days

Asian stocks fell driving the benchmark index to its first drop in four days until the lower metal prices dragged mining companies and Japanese exporters fell after the yen gained yesterday as Tokyo markets were closed. BHP Billiton Ltd., the world's No. 1 mining company, lost 0.9 percent in Sydney. Nissan Motor Co., a Japanese automaker earns about 75 percent of its sales abroad, fell 1.3 percent in Tokyo. Advantest Corp., the world's largest maker of chip testing equipment, fell 1.8 percent in Tokyo after reviewing a takeover bid. Hyundai Merchant Marine Co. fell 5.7 percent in Seoul after the sale of new shares at a discount. "The market...

Copper rose to almost a record amid speculation as Swiss franc declined

Copper rose to almost a record amid speculation that the global recovery will continue in 2011. The Swiss franc declined and the United Kingdom shares advanced for a fifth day before the weekend. Copper gained 0.7 percent, extending the rally this year to 27 percent, at 10:59 am in New York. The franc has depreciated 0.3 percent against the euro. The FTSE 100 index added 0.2 percent, swinging to a profit from a loss in the last minutes of trading, while the CAC-40 index lost 0.3 percent. The MSCI Emerging Markets Index fell below 0.1 percent, the first decline in four days, as North Korea threatened to launch a "holy war" if attacked. U.S. markets were closed for the Christmas holidays. Confidence among U.S. consumers probably better off this month, economists said before the report to be...

Japanese stocks fell for a second day

Japanese stocks fell for a second day after the dollar weakened against the yen, while the Tokyo market was closed yesterday, dampening prospects for export earnings. Honda Motor Co., automaker of Japan's second-largest, lost 1.1 percent. Kyocera Corp., a manufacturer of electronic equipment that earns a third of its income from U.S. and Europe, fell 1.1 percent. Mitsubishi UFJ Financial Group Inc., a bank whose stock has advanced nearly 15 percent over the past two months, declined 0.7 percent. Mitsui O.S.K. Lines Ltd., operator of the largest merchant fleet in the world, fell 2.5 percent after Goldman Sachs Group Inc. cut its rating to "sell"...

Britain's FTSE 100 Index closed above 6,000 for the first time since June 2008

Britain's FTSE 100 Index closed above 6,000 for the first time since June 2008, extending the yardstick for measuring progress for the fourth straight week. Resolution Ltd., BG Group Plc and Schroders Plc all rose at the close of trade today, dragging the index higher. JJB Sports Plc rose 24 percent in the broader All-Share index after the retailer announced a share sale to shore up its finances. Randgold Resources Ltd. fell after metals producer said the political crisis in Ivory Coast un''impacto would impact on its earnings. The FTSE 100 rose 12.85, or 0.2 percent, to 6,008.92 at the close at 12:30 pm in London, extending its weekly gain of 2.3 percent. The FTSE All-Share Index rose 0.1 percent today, while Ireland ISEQ Index fell 0.2 percent to close 1:15 pm in Dublin. "The prolonged...

Canadian dollar made gains against its two weekly U.S.

Canadian dollar made gains against its two weekly U.S. and the euro as crude oil to a stock price in two years and increased demand pushed higher-yielding assets. Canadian currency, nicknamed the loonie, is a 2 percent this month and 0.8 percent in the last five days against the dollar, recovering from two consecutive weekly losses, on speculation that the Bank of Canada will resume its cycle of interest rate hikes in 2011. The Canadian dollar has gained more than 12 percent this year versus the Danish krone, the most among the 16 most-traded counterparts. "The Canadian data was not strong enough to change the perception that the Bank of Canada will begin to walk in the second quarter," wrote David Watt, senior currency strategist at RBC Royal Bank of Canada Capital Markets unit, a e-mail....

The franc weakened against the euro and the dollar for a second day

The franc weakened against the euro and the dollar for a second day, as the Swiss National Bank said it is ready to "take steps" to combat deflation, fueling speculation that he may intervene. The yen fell against most major pairs as Reuters reported that Japan said it is likely to increase their reserves to intervene in the currency market. The dollar was on the verge of a weekly loss against 12 of its 16 most-traded counterparts as positive U.S. data spurred economic investment in riskier assets. Reports next week may show confidence among U.S. consumers including improved housing remains weak. "It does not take much to get the market to move at Christmas or New Year and, in view of the euro-Swiss acceleration to the minimum of a couple of days, does not take much for a little investment,...

The euro may fall to a minimum of four months against the yen

The euro may fall to a minimum of four months against the yen should fall below key support levels established in the last month, said Tsutomu Soma, a provider of bond and currency of Okasan Securities Co. Support at 108.35 yen weakest marks the euro on Nov. 30, and the level of 108.49 yen represents a trend line connecting the lows of August 24, 1908 September and 23 December. Daily momentum indicators such as Moving Average Convergence Divergence, or MACD, also show that the euro is likely to weaken against the yen, Soma said. "The euro is very bad against the yen in the lists, " said Tokyo-based Soma in an interview. "The trend is downward, with a clear break below 108.35 yen target the August low 105.44 yen." The European currency rose to 109.04 yen at 9:53 am in Tokyo from 108.74 yen...

Canadian dollar dropped after showing the nation's economic growth forecasts lost

Canadian dollar dropped compared with commodity-linked counterparts after a report showed the nation's economic growth forecasts lost, adding to evidence of recovery can be prolonged. The Canadian currency, known as the Canadian dollar strengthened against the dollar as crude oil climbed to the highest level in over two years. The Canadian dollar led to a gain of 0.5 percent in the week, after falling the previous two. It has risen 4.3 percent this year against the U.S. dollar, the ninth best performance among its 16 major counterparts. The U.S. dollar pair Canadian dollar currency "has been less attuned to the risk of finding the feelings," said Brian Kim, currency strategist at UBS in Stamford, Connecticut, via email. "It's probably the choppiness in the Canadian and U.S. data that batting...

Orders for capital equipment in the U.S. recovered in November

Orders for capital equipment in the U.S. recovered in November, indicating a slowdown in business investment may be less pronounced than some economists projected. Bookings for goods like computers and communications equipment rose 2.6 percent after declining 3.6 percent in October, which was lower than estimated, the Commerce Department figures showed today in Washington. Total orders fell 1.3 percent, pressured by the ongoing demand for airplanes, and reserves excluding transportation equipment rose more than expected. Capital spending has been a source of strength for the world's largest economy, while household purchases are starting to accelerate. Manufacturing industry helped pull the U.S. the worst recession since the 1930's, has remained strong throughout the recovery, driven in...

The pound sterling depreciated against the dollar for the second straight week

The pound sterling depreciated against the dollar for the second straight week as economic data stoked concern the recovery may be slower. The pound headed for weekly decline against 16 of its most actively traded counterparts. The pound hit a three-month low against U.S. currency December 22 as the Office for National Statistics said gross domestic product grew by 0.7 percent in the three months to September, below the initial estimate of 0.8 percent announced in October. Second quarter growth was revised downward to 1.1 percent from 1.2 percent. The budget deficit rose to a record of approvals and home loans fell to the lowest since March 2009. "It was not the best race of the data in the course of the last session and the pound is looking a little softer," said Jeremy Stretch, executive...

Gold rose for the first time in three days in London

Gold rose for the first time in three days in London as concern about the debt crisis in Europe led investors to protect their wealth. Portugal Fitch Ratings downgraded by one level yesterday and said the economy faces a "deterioration" of Outlook as the government struggles to contain the euro zone's fourth largest budget deficit. Gold rose to a record $ 1431.25 an ounce on 07 December amid growing concern about the fiscal health of countries like Ireland, Spain and Greece. "Gold prices have risen largely on the sovereign risk in Europe," said Chris Kwon, Co. operates Seoul-based KTB Securities "ingots may soon break the $ 1,400 mark again." Gold for immediate delivery rose $ 4.83, or 0.3 percent, to $ 1,384.93 an ounce at 12:45 pm in London. Gold futures for February delivery closed at...

The premium of yuan to buy outside of China disappeared

The premium of yuan to buy outside of China disappeared as Hong Kong's central bank established a fund to guarantee the supply of currency cross-border trade settlements. Yuan traded in Hong Kong to 6.6510 per dollar as of 12:10 pm local time, a discount rate of 6.6333 in Shanghai. offshore trading began in July and the Hong Kong rate has averaged 0.8 percent stronger than on the mainland. Hong Kong banks will be allowed to exploit the 20 billion yuan ($ 3 billion) of funds from the bank next month the city of yuan of compensation runs out of funds created pursuant to a quarterly fee. The Hong Kong Monetary Authority made available 10 million yuan in October with a swap agreement with China's central bank after a quota of 8000 million yuan was insufficient. Chinese Premier Wen Jiabao, is...

Naoto Kan plans to limit new bond sales of 44.3 trillion yen in 2011

Japanese Prime Minister Naoto Kan plans to limit new bond sales of 44.3 trillion yen ($ 534,000,000,000) in 2011 to finance a record budget in an attempt to stimulate demand and boost business growth. The country's budget will amount to 92.4 billion yen in the year from April 1, according to a proposal approved today by the Council of Ministers in Tokyo. Kan is committed to maintaining the bond sales unchanged for three years to curb the industrialized world's largest debt burden. Kan budget juggling the need to stimulate demand in an economy battered by the yen up to a deflation in 15 years, and reduce the burden of debt twice the size of gross domestic product. The increase in sales tax to improve Japan's finances might not be feasible because it runs the risk of a further decline in his...

debt rating of Portugal was demoted one level by Fitch Ratings

debt rating of Portugal was demoted one level by Fitch Ratings, which said the economy faces a "deteriorating" prospects as the government struggles to contain the euro zone's fourth largest budget deficit. The long-term issuer foreign and local currency default rating was reduced to A +, the fifth highest level, from AA-, Fitch said in a statement. The outlook is negative. March 24, Fitch cut the rating by one step to AA-. The company said in a separate report, the risk of the European Union will have to rescue other euro member states after rescue of Ireland and Greece. "The downgrade reflects a further slow reduction in the current account deficit and financing environment much more difficult for the Portuguese government and the banks prior to joining Fitch rating and negative outlook...

The largest gains in Russia's actions in comparison with bond yields

The largest gains in Russia's actions in comparison with bond yields are encouraging more entries from venture capital fund in a year when the stakes rise in the price of raw materials will help extend the best rally among major emerging markets. The 30 stocks in the Russian MICEX index have an earnings yield, or earnings as a proportion of stock price, from 11.1 percent. That is 1.9 times the yield of 5.85 percent in Russia in U.S. corporate bonds, according to JPMorgan Chase & Co. 's EMBI +. The average multiple of 2.05 percent since June is the highest for a period of half a year. The Micex has gained 22 percent this year, beating rates of Brazil, India and China, the largest energy exporting country benefits from an increase of 26 percent oil in the last four months and expectations...

The government of China does not draw enough demand in a sale bill for the second time in a month

The government of China does not draw enough demand in a sale bill for the second time in a month as seasonal demand and higher cash reserve ratios on the left banks with less money. The Ministry of Finance sold 16.76 billion yuan ($ 2,530,000,000) of securities to 91 days, below the planned target of 20 billion yuan, according to a statement on the website of Chinabond, the nation's largest home debt clearance. The average yield was 3.68 percent gain, above the 3.22 percent rate for similar debt maturity in the secondary market yesterday. China needs to return to a "prudent monetary policy" to contain prices and money supply control, the People's Bank of China said in a statement posted on its website today. While inflationary pressures are increasing, regulators will allow a reasonable...

The 10-year German bonds posted their first weekly gain since early November

The 10-year German bonds posted their first weekly gain since early November as renewed concern about the indebted countries of the region demand driven by dams as a refuge. The yield on the Bund, government security benchmark in Europe, fell from about seven months reached on 16 December. Portuguese bond denied that his rating was downgraded by Fitch Ratings, which also said it may cut Greece to non-investment grade. AAA rating in France was confirmed yesterday by Standard & Poor's with a stable outlook. Spanish bonds rose. "The concerns about the periphery are still valid to enter the new year and that has been essential to support bonds," said Eric Vara, interest rate strategist at Lloyds Corporate Bank. "Without a dramatic surprise of the political leaders of the EU, I can not...

Goldman Sachs Group aid bonuses may be granted depending on future earnings

Goldman Sachs Group Inc. which weighs 2,010 packages to pay for a year that could have the character of Wall Street "the second best", said bonuses may be granted depending on future earnings, as well as stock performance. Prizes will go to "key employees" and linked to a series of financial measures, including income, net income and return on capital, an indicator of profitability, the company based in New York, said yesterday in a regulatory filing. Prizes may include cash, securities or other components linked to equities, and provisions that allow you to cancellation or return. The plan is a tool of the compensation committee can be used to further align incentive compensation with long-term performance, "said Stephen Cohen, spokesman for the company. Cohen declined to provide figures...

renewable energy funds suffered outflows record this year reversing its direction from 2009

renewable energy funds suffered outflows record this year reversing its direction from 2009, as money managers like BlackRock Inc. said the credit crisis dimmed the outlook for solar energy projects and wind energy. Investors took € 931 million ($ 1.2 million) in the first 10 months, eclipsing the withdrawal of the entire year in 2008, when the global financial crisis spooked investors, according to data compiled by Lipper Inc. The past year clean energy funds captured € 1300000000 new money, Lipper said. More stringent conditions for loans for clean energy projects, increased competition from Chinese manufacturers and the reduction of subsidies from European governments beaten some of the stocks that were the favorites of fund managers by 2010, as Vestas Wind Systems A / S, the world's...

The funds of emerging equity markets posted net withdrawals for the first time since May

The funds of emerging equity markets posted net withdrawals for the first time since May, in the week ended Dec. 22 amid concerns China will continue tightening monetary policy, cutting a record year for entries, EPFR Global, said . For the year, emerging markets funds have taken action on a record of 92.5 billion U.S. dollars and bond mutual funds in developing economies the income of 52.5 billion U.S. dollars, almost seven times their income previous year in history. "Uncertainty about inflationary trends, the investor fear of being caught on the wrong side of controls on capital and profit-making basis kept the pressure on EPFR Global emerging market funds up to enter the last week of 2010, "the Massachusetts-based research company in an emailed statement. China's central bank raised...

Apollo agreed to pay $ 1.2 billion for distressed real estate loans held by Credit Suisse Group

Apollo Global Management LLC agreed to pay $ 1.2 billion for distressed real estate loans held by Credit Suisse Group AG, according to a person familiar with the deal. Mortgages are backed by buildings in Europe, said the person, who requested anonymity because the deal has not been made public. The demand for commercial real estate loans has increased as banks around the world to strengthen balance sheets and start selling non-strategic real estate assets. Private equity firms TPG Capital and KKR & Co. really have competed ING Groep NV of the real estate investment unit, people familiar with the matter. Morgan Stanley said last month that the European real estate stocks will probably exceed the broader market in 2011. Apollo, last month completed the purchase of real estate investment...

an independent consultant in California pleaded guilty and agreed to cooperate with federal prosecutors in a widening U.S

Karl Motey, an independent consultant in California, pleaded guilty and agreed to cooperate with federal prosecutors in a widening U.S. investigation insider trading on Wall Street. Motey pleaded guilty in federal court in Manhattan on Dec. 14 of conspiracy and securities fraud, according to court documents released today. He got up tips from multiple sources to Marvell Technology Group Ltd. and provided the information to hedge fund clients, according to the charging document. Motey agreed to tell prosecutors about a regime insider trading that ran from 2007 to March 2009, according to court documents. Also reveal details of advice he received from a source with Taiwan-based United Microelectronics Corp. and "employees of a California hedge fund," according to court documents. An accomplice...

Buffett unit buys agricultural products Ironwood, plastics, automobile manufacturer, pumps

Warren Buffett's Berkshire Hathaway Inc. is expanding its CTB, Inc., a manufacturer of feeder pigs and farm equipment, by the addition of a Michigan-based producer of plastic components used by the automotive industry and the military. CTB bought Ironwood Plastics, which was founded in 1979 and has manufacturing facilities in Michigan and Wisconsin, a subsidiary of Berkshire, said in a statement posted on its website. Terms were not disclosed. Buffett, 80, has financed the expansion CTB from Omaha, Nebraska-based Berkshire bought the maker of PigTek and Chore-Time products in 2002. CTB, whose predecessor was founded in 1952 to serve farmers of poultry and livestock, later expanded into grain storage. "The combination of Ironwood Plastics' management skill and process along with its wide...

Tokyo Electric Power may sell bonds in dollars For the first time in at least 13 years

For the first time in at least 13 years, Tokyo Electric Power Co. may sell bonds in dollars and the falling demand cuts size of the bid denominated in yen. Demand for tickets to the biggest company in Asia for energy has been reduced to the central bank's policy of near zero interest rates pushed the average yield of AA utility debt rated below five years of notes relevant government for the first time in at least five years. Bond sales by Tokyo Electric, or Tepco, have fallen to an average of about 30 billion yen (359 million dollars) each year, from 50 billion yen in 2007 and 2008. "We want to use the foreign sales of bonds as a tool for fundraising," said Chief Financial Officer Masaru Takei in an interview on December 7 in Tokyo. "We like to think markets such as sales of big bonuses...

My wife celebrates cancer lesson for Health Care

In July 2008, my wife Linda was diagnosed with advanced squamous cell carcinoma of the oral cavity. Further treatment has led me to see the U.S. health care from a different perspective. Linde What I've learned over the past two years has expanded my core beliefs about medicine. In sum, while amazing advances have been made and the miracles that are occurring, medicine remains as much an art. I have spent almost 40 years in the business side of health care industry, including the last seven as CEO of a health plan. I thought my network serve us well. I figured it had clear answers to questions about the best treatment plan and the best suppliers. What I learned was that for rare diseases such as Linde, if not all diseases in general, clear answers are often lacking. Never forget a doctor...

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