GLD Moves Into Top Spot, Surpasses SPY As Biggest ETF Is $5,000/Ounce The New Target In Gold’s Run?MKM: Buy Silver ETF (14% Upside); Pair Utilities With October Calls By Murray Coleman Here’s another rather stark sign of our times: – … Read more.
(Reuters) – The chief of Standard & Poor’s will step down next month, to be replaced by a senior Citibank executive, in a move announced a few weeks after the credit rating agency downgraded U.S. government debt and sparked a … Read more.
SHANGHAI–China has released draft guidelines on foreign investors’ use of yuan acquired overseas for direct investment in the country, taking another significant step forward in further internationalizing the Chinese currency and opening the nation’s tightly controlled capital account. In a … Read more.
The Word from Republicans on The Hill is, “we will oppose Obama’s plans” US President Obama is widely expected to announce a new jobs plan on or just after Labor Day when he returns from his vacation. The plan will … Read more.
(Reuters) – In early summer, before layoffs began sweeping across Wall Street, billboard-sized photos of employees were plastered on the walls, pillars and elevator banks of Credit Suisse Group AG’s offices in the United States and abroad. The museum-quality prints, … Read more.
Enhancing financial regulation has been a common view between governments since crisis in Y 2008, but debates over implementation details continue, especially since the recent debt crisis has given rise to Double Dip recession danger. Bankers and financial experts have … Read more.
Amid renewed fears that the euro-zone crisis could put fresh pressure on short-term funding, an unidentified bank made use of the Federal Reserve’s swap facility via the Swiss National Bank, borrowing $200 million earlier this month. The SNB disclosed that … Read more.
Aug. 19 (Bloomberg) — U.S. stocks fluctuated between gains and losses as investors weighed growing concern over the global economy and Europe’s debt crisis against valuations near the cheapest level since 2009. Crude oil and the euro rose. The Standard … Read more.
Money-market mutual funds, those havens of safety for investors during tumultuous times, are facing their own pressures as interest rates continue to decline. The funds, which historically aimed to provide higher yields than bank deposits without risk of losses, are … Read more.
Most Americans are too distracted to recognize that the New Global Order (the Order) has emerged. It is safe to say that the USA will most likely continue to be a main player in the Order. But, right alongside it … Read more.
The Securities and Exchange Commission may have destroyed documents related to investigations into major banks and hedge funds, according to Sen. Chuck Grassley (R-Iowa). “From what I’ve seen, it looks as if the SEC might have sanctioned some level of … Read more.
(Reuters) – Stocks tumbled more than 4 percent on Thursday after data pointed to a stalled economyand as bank shares sank on a report regulators were scrutinizing the U.S. units of big European lenders. The decline was broad as well … Read more.
(Reuters) – The Federal Reserve Bank is taking a closer look at the U.S. units of Europe’s biggest banks, concerned that a euro zonedebt crisis could spill into the U.S. banking system, the Wall Street Journal reported. The $2.5 trillion … Read more.
Thailand, South Korea and Kazakhstan added gold valued at about $2.59 billion to their reserves in July, joining Mexico and Russia in increasing holdings this year as central bankers hedge against depreciating foreign-currency reserves. Gold fell for the first time … Read more.
PARIS—A senior Standard & Poor’s Corp. analyst Thursday confirmed France’s triple-A rating and stable outlook for the country, dispelling investor fears that the top-notch grade of the euro zone’s second-largest economy may be at risk. “We’re confident in the triple-A … Read more.
Aug. 17 (Bloomberg) — European politicians should let Greece, Ireland and Portugal default while taking steps to ensure Italy and Spain won’t, according to Pacific Investment Management Co.’s Neel Kashkari. “They are delaying and denying as long as possible because … Read more.
U.S. core producer prices rose at their fastest pace in six months in July, pushed up by higher tobacco and light truck costs, according to a government report on Wednesday that could stoke inflation fears. The Labor Department said its … Read more.
Don’t mess with Texas, at least when it comes t0 monetary policy. Rick Perry, the latest entrant into the race for the Republican presidential nomination and already among the frontrunners, fired a shot across the bow of the Federal … Read more.
Court limits Apple’s ban on Samsung’s Galaxy tablet The ban on a Samsung Electronics Co. (KS:005930) tablet computer across Europe was lifted after the German court that granted Apple Inc. (NASDAQ:AAPL) an injunction last week scaled back the ruling to … Read more.
The People’s Daily, the official newspaper of China’s ruling Communist Party, spelled out Beijing’s chief concerns ahead of Biden’s arrival in Beijing on Wednesday evening local time, when he was greeted by senior Chinese diplomats. China wants Biden to reinforce … Read more.
Charlie Rose – Warren Buffett. As always Buffett is illuminating and comforting. He is the nation’s economic compass and a person we can consider a genuine national treasure if there ever was one. In this great interview with Charlie Rose he … Read more.
Aug. 16 (Bloomberg) — President Barack Obama told an audience in rural Iowa that the U.S. economy will come back “stronger than before” after the worst recession in decades, driven by small businesses and entrepreneurs. “That comeback isn’t going to … Read more.
NEW YORK (AP) — More evidence of a slowing global economy sent stocks falling Tuesday and threatened to end the market’s three-day rally. Germany’s economy stalled last quarter and dragged down growth for Europe. In the U.S., reports painted a … Read more.
PARIS (AP) — All countries that use the euro should have mandatory balanced budgets and better coordination of economic policy, the leaders of France and Germany said Tuesday, pushing for long-term political solutions instead of immediate financial measures like a … Read more.
Why Banks Aren’t Lending: Weak Economy, Regulatory Uncertainty By Peter Gorenstein U.S. banks got hammered last week on concerns the sovereign debt crisis in Europe coupled with slow growth and a weak U.S. consumer are setting the stage for another … Read more.
Aug. 16 (Bloomberg) — Fitch Ratings affirmed its AAA credit rating for the U.S. and said the outlook is stable, citing the nation’s central role in the global financial system and the flexible, diverse economy. Fitch had put the rating … Read more.
SHANGHAI—Fresh data showing strong capital inflows into China and a spike in the interest rates on central-bank debt showed continuing pressure on the government to keep fighting inflation with tightening measures despite worries about weakness in the global economy. … Read more.
The stock market’s recent wild swings have unsettled many investors, but they have led to record profits for high-frequency traders following months of disappointing returns, industry analysts and money managers said. Some traders interrupted August vacations to return to their … Read more.
(Reuters) – The risk of a new U.S. recession has risen over the last couple of months, but an outright contraction will most likely be avoided, Atlanta Federal Reserve Bank President Dennis Lockhart said on Monday. Lockhart said there is … Read more.
Buffett calls for higher taxes on US Super Rich The wealthiest Americans should pay more income tax and make sacrifice to bring the Nation’s fiscal house in order, Warren Buffett, chairman of Berkshire Hathaway, said Monday. “While the poor and … Read more.
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