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Oil futures pare losses to settle at $94.25
NEW YORK (MarketWatch) -- Oil futures ended little changed Thursday after paring losses as upbeat U.S. data offset lackluster Chinese manufacturing data, giving a mixed picture for energy-demand prospects. New-home sales in April rose to 454,000, the second-highest level since the recession, beating economist expectations. In China, HSBC's flash purchasing managers' index for May fell ...
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Porat Shilling talked housing with Lew Treasury
-1.80% Chief Financial Officer Ruth Porat and Yale professor Robert Shilling were among the individuals to discuss housing finance at a dinner with Treasury Secretary Jacob Lew, the Treasury Department said Thursday. "The discussion focused on the causes and lessons learned from the financial crisis, long-term housing finance reform, and the importance of homeownership in American ...
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SEC fines ex-Goldman banker in pay-to-play probe
-1.08% investment banker Neil Morrison agreed to pay a $100,000 fine to settle Securities and Exchange Commission charges for his role in a pay-to-play scheme involving undisclosed campaign contributions to then-Massachusetts state treasurer Timothy Cahill while he was a candidate for governor. The SEC charged Goldman Sachs in September 2012 and the firm paid more than $12 million to settle the ...
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Gold futures settle at their highest in a week
+1.64% , the most-active contract, gained the same dollar and percentage amounts to end at $1,392.80. That was the highest settlement for a most-active contract since May 15. The metal's gains were based on a "'fear' trade," said James West, portfolio adviser to the Midas Letter Opportunity Fund. But "I don't expect it to last as the U.S. stock market mania is ...
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Ten-year TIPS sale hits highest yield since 2012
NEW YORK (MarketWatch) -- The Treasury Department sold $13 billion in 10-year Treasury Inflation-Protected Securities Thursday at a yield of -0.225%, the highest yield since March 2012. Bidders offered to buy 2.52 times the amount of debt sold, compared to an average of 2.72 times at the last 6 sales. Indirect bidders, a group that includes foreign central banks, bought 56.8%, versus 38.9% in ...
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Goldman Sachs re-elects board releases report
business standard committee impact report during the meeting which the firm said was the result of a three year effort to review the firm's standards and practices. Goldman Sachs shares were down nearly ...
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Three SAC Capital executives subpoenaed WSJ
NEW YORK (MarketWatch) -- Three employees of SAC Capital Advisors have received subpoenas, said a report in The Wall Street Journal. The senior executives include the firm's president, chief compliance officer and head of trading and the request was to testify before grand jury. The subpoenas are part a government insider trading probe into the hedge fund founded by Steve Cohen, said the ...
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House OKs bill basing student loans on Treasurys
that would base interest rates on federally backed student loans on the 10-year Treasury note, defying a White House veto threat. The bill, passed on 221 yes votes, drew 198 no votes, mostly along partisan lines. Rates on those loans are set to double to 6.8% from 3.4% on July 1, absent action by Congress. The Obama administration says that the bill -- which would peg rates to the 10-year ...
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China April oil demand up 2 vs. year ago Platts
SAN FRANCISCO (MarketWatch) -- China's apparent oil demand climbed by 2.1% to average 9.66 million barrels per day in April compared to a year earlier, according to a Platts analysis of Chinese government data released Thursday. But apparent demand for oil in April was the lowest level since August 2012, the analysis showed. Refinery runs fell 3% in April compared with March, but were up ...
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Proxy firm ISS fined for giving secret vote info
WASHINGTON (MarketWatch) - An influential shareholder advisory firm, Institutional Shareholder Services, on Thursday was fined $300,000 by the Securities and Exchange Commission for failing to set up safeguards to protect the voting information of some of its institutional investor clients. Specifically, the SEC allegedly found that an unnamed employee of ISS, a unit of MSCI ...
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Feds Williams Not yet convinced of improvement
WASHINGTON (MarketWatch) - More signs of a strong economy are needed before it will be clear that the economy is on solid footing, said San Francisco Fed President John Williams on Thursday. "I'm seeing very good signs of improvement, and I want to see even more to be convinced," Williams said in an interview with Bloomberg. In a speech ten days ago, Williams said that the pace of ...
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Financial stocks fall on Fed China data
NEW YORK (MarketWatch) -- Financial stocks were down in premarket action Thursday, tracking a drop in the broader global markets on concerns the Federal Reserve will reduce its bond-buying program and a reported drop in China's manufacturing index for May. The Financial Select Sector SPDR ...
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Wall Street dips as data HP offset stimulus fears
US stocks slipped on Thursday, recovering from session lows as encouraging domestic economic data and a rally in Hewlett-Packard's shares offset concerns about the timing of any reduction in the Federal Reserve's monetary ...
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Lawmakers reach consensus on campus construction bonds
An agreement has been reached on allocating an additional $175 million for debt service to accommodate a major round of construction projects on numerous public university campuses across Texas. The Senate gave final approval to the measure House Bill 1025, authored by State Rep. Jim Pitts, R-Waxahachie on Wednesday evening. The House had previously proposed $200 million in additional ...
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US STOCKS SNAPSHOT - Dow Nasdaq edge up in choppy trading
NEW YORK | Thu May 23, 2013 2:59pm EDT NEW YORK May 23 (Reuters) - U.S. stocks hit session highs in a volatile session on Thursday with the Dow industrials posting a second straight swing of more than 160 points as investors digest the Federal Reserve's evolving policy stance. The Dow Jones industrial average rose 20.81 points or 0.14 percent, to 15,327.98, the S&P 500 lost 1.98 ...
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World markets roiled by Nikkeis 7.3-percent dip
LONDON/HONG KONG--Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ...
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Is bond bubble losing air
amount of bonds the Fed buys each month within "a few meetings," while minutes from the Fed's latest policy meeting showed that some central bank members were willing to dial down the Fed's bond-buying program as soon as June. "We can call Bernanke the Hamlet Fed chairman," said Jonathan Lewis, chief investment officer at Samson Capital Advisors. "He is ...
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US STOCKS-Wall St mostly dips but off lows with help from HP
Thu May 23, 2013 2:28pm EDT * HP jumps after raising 2013 outlook * Encouraging economic data help stocks retreat from lows * Investors fret about timing of Fed stimulus pullback * Dow up 0.1 pct; S&P 500 off 0.2 pct; Nasdaq off 0.1 pct By Angela Moon NEW YORK, May 23 (Reuters) - U.S. stocks mostly edged lower on Thursday but were sharply off their session lows as a rally in ...
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UPDATE 9-Oil prices pare losses on U.S. equities turnaround
Thu May 23, 2013 3:37pm EDT * U.S. equities recoup earlier losses, supporting oil * Chinese factory activity shrinks, raising demand doubts * U.S. single-family home sales rise 2.3 pct * Euro zone business downturn eases in May-PMI * U.S. gasoline stocks abundant ahead of driving season (Updates prices, recasts) By Anna Louie Sussman NEW YORK, May 23 (Reuters) - Brent crude oil prices retraced ...
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Fed buys $15.3 bln of mortgage bonds sells none
NEW YORK | Thu May 23, 2013 2:27pm EDT NEW YORK May 23 (Reuters) - The Federal Reserve bought $15.3 billion of agency mortgage-backed securities from May 16 through May 22, less than the $17.3 billion it purchased last week, the New York Federal Reserve Bank said on Thursday. In a move to help the housing market, since October 2011 the U.S. central bank has been using funds from ...
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At midday Wall Street pares losses TSX still hurting
U.S. stocks and bonds were little changed on Thursday, with equities rebounding from what traders considered an excessive drop on Wednesday, though concerns remained over the pace of global economic growth.The midday strength in U.S. equities bucked a worldwide trend of weakness. European shares ended down 2 per cent while Japan plummeted 7.2 per cent on weak data from China and ...
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Solar subsidies dont merit costly trade war with China
By Kevin Allison and Christopher Swann, Reuters Breakingviews FORTUNE -- A trade war is brewing over solar panels but the casus belli looks shaky. Western manufacturers probably exaggerate the impact of cheap Chinese kit on the industry's health. Panel profits need to rise, but punitive tariffs and possible Chinese retaliation may just make solar energy less competitive. Europe's ...
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Time to hit pause on stock rally
Maybe it's time to change that Wall Street phrase about stocks in the summertime to "Sell on the 23rd of May and go away?" Stocks around the world took a hit Thursday on the heels of a disappointing report ...
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Bond Report Treasurys give up gains as equities recover
NEW YORK (MarketWatch) -- Treasurys lost most of their early gains Thursday as stocks recovered from a sharp morning drop on improving economic ...
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Fitch Confirms A+F1 on NY Lib Dev Corp Recovery Zone Bonds 2010A-2 3 4 Rate A-5
Fitch: Sub-Saharan Africa Has Gradual Upgrade Potential Fitch Ratings says in a newly-published report that targeted reforms and policy initiatives could see Sub-Saharan Africa's (SSA) sub-investment grade ratings gradually upgraded, despite per capita income falling well short of peers. The challenge for Africa from a rating perspective is the low level of GDP per capita - most SSA ...
Kyrgyzstan Featured
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Kyrgyzstan must stick to long-term development plans
While news of the political unrest and government change in early 2010 dominates the world headlines, Kyrgyzstan faces an uncertain future as long-term plans for infrastructure development are thrown into disarray and uncertainty.
Kyrgyzstan is one of the poorest countries in Central Asia and stands to benefit greatly from long-term development plans initiated under the auspices of the Central Asian Regional Economic Cooperation (CAREC) Program, if the interim government can move on from the current political crisis and stabilize the country’s economy and political future. Read more
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