Posted on March 11th 2014
NEW YORK (MarketWatch) -- Federal Reserve officials are shifting their outlook on how to normalize monetary policy, according to a report by The Wall Street Journal's Jon Hilsenrath on Monday . After a prolonged period of bond-buying stimulus programs and near-zero benchmark interest rates, the central bank is considering how to exit those policies. The potential new plan involves paying interest on excess reserves in the banking system, as well as holding down rates through a "reverse repos" tool in which the Fed trades with firms outside the banking system who lend it cash in return for interest. That's a contrast with a previous plan to drain reserves from the system by letting Treasurys and mortgage-backed securities roll off its balance sheet as they mature, as well as using other technical tools, according to Hilsenrath.
Valentina Matvienko has blasted attempts by some western media to misrepresent Russia’s role in the Ukrainian crisis, and assured that there will never be a war between the two countries.
During Friday talks with the speaker of the Crimean legislature Vladimir Konstantinov in Moscow the head of the Federation Council emphasized that Russia sought no confrontation with any party in the crisis and seeks cooperation with Ukraine, the European Union and United States. “We should abandon the language of threats and start building a mutual understanding despite the existing contradictions,” RIA Novosti news agency quoted Matvienko as saying.
European Central Bank (ECB) head Mario Draghi said the euro currency is “an island of stability” even though growth in the eurozone is slow and unemployment is still rampant.
The eurozone is on a path of “modest recovery” Draghi said on Thursday following the bank’s monthly meeting, in which it decided to keep interest rates at the record low of 0.25 percent despite rising fears of deflation.
Nato is to deploy reconnaissance planes in Poland and Romania to monitor the Ukrainian crisis.
It gave the go-ahead for the flights on Monday, a Nato spokesman said.
"All Awacs [Airborne Warning and Control System] reconnaissance flights will take place solely over alliance territory," the official said.
With its 1.3 billion people and its position as the second largest economy in the world after the U.S., China has been the engine that powered much of global economic activity over the past 10 years.
So when China said its exports fell 18.1% year-on-year in February–economists had been expecting growth of 5%–it sparked waves of sales in equities and commodities that reverberated from New York to Frankfurt.
"Yes, I'll be looking at buying shares," says Steve Smith enthusiastically as he contemplates the imminent £750m stock market listing of Poundland, the retailer he founded in 1990. "I'm very proud. It's my baby and they've looked after it. I'm seeing my dreams for Poundland come true."
As Ukraine’s economy spins towards default, investors and bankers worry the financial turmoil will spill over into global markets, a scenario “nobody wants to deal with,” Arnaud Leclercq, Group Managing Director at Lombard Odier, told RT.
“The situation in the country is already in turmoil, very imbalanced and if you add to that a default, it would probably be a road to a much worse case scenario, that obviously nobody wants,” Leclercq said.
Whether it’s the surge from Tesla Motors, Facebook’s stunning rise since its early struggles as a public company or the jump in Netflix that helped the streaming video company keep Carl Icahn at bay, it’s clear that a five-year bull market has been a boon for many growth stocks. But the huge rise — and the lofty valuations it comes with — begs the question: when does the party end?
Think JPM's zero trading day losses in 2013 was impressive? Prepare to have your mind blown. The chart below shows the chart of daily net trading income by High Frequency Trading titan Virtu, taken from its just filed IPO prospectus. The punchline: in 4 years of trading Virtu has had one, one, day in which it lost money.
Cypriot central bank governor Panicos Demetriades, whose testy relations with the island's government dogged a tumultuous tenure as Cyprus teetered on the brink of bankruptcy, has resigned.
President Nicos Anastasiades, who had been pressing for Demetriades's departure since last year's banking collapse and international bailout, accepted his resignation, an official statement said. Demetriades will work out his notice until 10 April.
If you need a genuine Kalashnikov rifle, Sergey Chemezov is your man. He’d also be happy to sell you a dual-screen smartphone, neonatal incubators, heavy-duty trucks or a few tons of titanium.
As head of Rostec, the Russian state-owned holding company formed around arms exporter Rosoboronexport, Chemezov is branching out. His $9 billion in planned investments through next year will include ventures working on biotechnology, drugs, gadgets and medical devices.
SoftBank Corp. (9984) President Masayoshi Son is reframing his argument for consolidation in the U.S. mobile-phone market, heading to Washington this week to advocate for wireless broadband as an alternative to cable.
Addressing investors and technology policy makers at a lunch tomorrow, Son plans to outline the advantages of an advanced wireless network that could deliver ultra-fast Internet access across the country and improve education and mobile commerce, according to people with knowledge of the matter, who asked not to be identified because the plan is private.
NEW YORK (MarketWatch) -- The bitcoin exchange Mt. Gox filed for Chapter 15 in the U.S. on Sunday, a chapter of the bankruptcy code that is designed to facilitate dealing with insolvency cases with parties in more than one country. Mt. Gox, which is based in Tokyo, filed for bankruptcy in Japan on Feb. 28. Meanwhile, the blog of Mt. Gox Chief Executive Mark Karpeles has been reportedly hacked , with the hackers posting an alleged balance sheet of the exchange's accounts.
China has urged Malaysia to "step up its efforts" in the search for the Malaysia Airlines passenger plane that disappeared on Saturday.
Malaysia said it was widening the hunt, after days of searching found no trace of the plane or the 239 people on board - most of whom were Chinese.
Rescue teams from nine countries will now scour areas stretching from the Malacca Strait to the South China Sea.
NEW YORK (Reuters) - U.S. stocks dipped on Monday, weighed down by soft data out of China and Boeing's latest production setback.
Merger and acquisition announcements, however, as well as company-specific news including on Facebook and Alexion Pharma, helped keep the S&P 500 and Nasdaq from bigger losses.
How much faith can we put in our ability to decipher all the numbers out there telling us the US is closing in on its cornering of the global oil market? There’s another side to the story of the relentless US shale boom, one that says that some of the numbers are misunderstood, while others are simply preposterous. The truth of the matter is that the industry has to make such a big deal out of shale because it’s all that’s left. There are some good things happening behind the fairy tale numbers, though—it’s just a matter of deciphering them from a sober perspective.
A new scam is costing innocent people hundreds, if not thousands of dollars. Here’s what you need to know to protect yourself.
Several suppliers of electricity that service various markets in the United States recently more than doubled their rates without any warning to customers. Some of the firms involved apparently claim that the skyrocketing prices resulted from unusually cold weather in the Northeast USA which caused their supply costs to increase. This claim, however, is suspicious, as other providers of power did not make similar increases, leading one to wonder whether these firms mismanaged their purchasing processes, or if something more sinister is at play. I tried to reach one of the suppliers, but, not surprisingly, my email and phone messages went unreturned.