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Investors Business Daily
| 6 Reasons Why Gold Prices Could Crater 80% From Here Dr. Phil McGraw preaches "There's no reality -- only perception." We see the world through individual lenses, shaped by our past, attitudes and personal agenda. That's evident in gold markets this week. Now that the yellow metal has melted nearly 30% from its September 2011 high, those who see the glass half-full claim gold will rebound from oversold levels on bargain buying and short covering. Those who see the glass half-empty say it stands to Indexes Rise But A Few Leaders Tumble The stock market continued its solid upward trajectory Tuesday, although a few cracks appeared on the bull market's surface. After shaking off some morning weakness, the S&P 500 and the Nasdaq closed 0.2% higher. Volume rose moderately. The major indexes are not slowing their advance in the merry month of May. The S&P 500 is up 4.5% for the month and the Nasdaq 5.2%. Their price channels are now more steep than they were in the January through Sector Leaders End Mixed; ARM Falls Hard The Sector Leaders were mixed Tuesday, with most maintaining their current course. But ARM Holdings (ARMH) stood out as shares plunged 2.65, or 5%, to 47.24 in more than double its average volume. In a single day, the chip designer gave up half the profit it had made since it broke out past a 44.57 buy point on April 23. ARM had been up as much as 13% from the buy point, but that gain was whittled down to 6%. The severity of the selling came Oil Services Name, Chip Firm Within Buying Range Fresh all-time highs for the Dow and S&P 500 Tuesday resulted in another round of new highs for several top-rated growth stocks. The Nasdaq shows gains in 18 out of the past 23 trading sessions. What's discouraging for investors looking to put fresh money to work is that stocks breaking out of fresh bases have been the exception, not the rule, in recent days. The vast majority of stocks hitting new highs these days are extended stocks that are When To Hold Or When To Sell If A Stock Gaps Down Any time a stock gaps down, it serves notice to the market. No matter the magnitude, a gap down in share price warns of an abundance of sellers. Often, those sellers will stick around and the stock will continue falling. Other times, however, the selling is temporary and the stock can get on with its life. Here's how to tell the difference from survivable gap downs from the outright pernicious ones. First, let's make sure what a gap down is: It's Two New Names Appear On IBD\'s Top World Stocks List IBD's Top World Stocks list is shifting as the broad market continues to forge new high ground. As old names fall off, new entrants keep the list fresh and relevant to investors seeking winners. Here are two names you may never have heard of. China-based Vipshop (VIPS), an online retailer which came public 14 months ago on the NYSE, has been rising for months along its 10-week moving average. It broke out of a base in September. But a key problem Bonds Snap Losing Streak As Fed Officials\' Talk Dovish Treasuries rose for the first time in three days as comments from Federal Reserve officials added to speculation Chairman Ben Bernanke will emphasize the need to sustain stimulus when he speaks before Congress tomorrow. Ten-year note yields dropped from two-month highs after Fed Bank of St. Louis President James Bullard said the central bank should continue its bond buying because it's the best available option for policy makers Demand For Wood Help Drive Weyerhaeuser\'s Earnings With the housing market in recovery mode, homebuilders are not the only way to partake in the comeback. Investors may also want to check out Weyerhaeuser (WY). The Federal Way, Wash.-based firm isn't just a paper company. Weyerhaeuser produces lumber and engineered wood products used in homebuilding. The firm is one of the biggest owners of timberland in the nation. It owns or controls 6 million acres of timberlands, mostly in the United States. AutoZone Leads Defensive Rally; Five Below Basing With a four-week climb, new highs and only one distribution day under its belt, the market is being anything but defensive. But it's worth noting that defensive industries were some of Tuesday's top-performing groups. And a number of defensive stocks have recently been making new highs and sketching interesting charts. Two of Tuesday's best moves came from Monro Muffler Brake (MNRO) and AutoZone (AZO) in the Retail/Wholesale-Auto Parts industry TripAdvisor, Biogen, Lennar: Stocks Will Danoff Likes Will Danoff's hunt for best-of-breed companies for his $93.7 billion Fidelity Contrafund takes him to sectors he's cool toward as well as others where he finds a lot to like. He's underweight in energy vs. the S&P 500. His 5.8% weighting as of March 31 was little more than half of the big-cap bogey's 10.61%. But he likes EOG Resources (EOG). "They're a leader in shale technology," Danoff said. That gives EOG an edge in helping meet growing global |
Market Watch
| Currencies: Dollar pulls back as Bernanke prepares to talk QE The U.S. dollar slips Wednesday as investors wait to hear U.S. Federal Reserve Chairman Ben Bernanke?s view of the U.S. economy and what that may mean for the central bank?s program to stimulate growth. Economic Report: Bank of Japan ups economic outlook The Bank of Japan raises its economic assessment at the end of its two-day meeting, while holding its policy unchanged. Asia Markets: Japan stocks hold gains after central-bank meet Japanese stocks stay on course for a fresh multiyear high after the country?s central bank raises its economic outlook. Most other regional markets rise ahead of Federal Reserve Chairman Ben Benrnake?s testimony. Paul B. Farrell: Bernanke out by August, QE ends, rates up: Crash Here?s why you better start preparing today for a stock-market crash dead ahead: The easy money is going to dry up soon. Caixin Online: China Premier?s India trip is about new strategies Ties between the Asian giants are improving, and Chinese Premier Li Keqiang?s India visit is about continuing a successful approach, Caixin Online reports. Personal Finance Daily: Why IRS scandal is good for tax cheats The last time the IRS was under this much scrutiny, audits fell by 50%. Find that story and more, in today?s Personal Finance Daily. Energy Stocks: Energy stocks end lower after Monday rally Energy stocks end lower Tuesday, losing steam a day after a rally. After Hours: Saks shares jump on report of possible sale Shares of Saks Fifth Avenue?s parent company leap more than 18% following a report the retailer hired Goldman Sachs to explore strategic possibilities including a sale. NewsWatch: U.S. stocks rise after Fed officials? QE signal U.S. stocks rise after comments from two Federal Reserve officials suggest that the central bank is not close to scaling back its bond-buying program. Movers & Shakers: Tuesday?s movers: Apple falls after Cook testimony After a day of choppy trading, Apple closes down on Tuesday following Chief Executive Tim Cook?s testimony to defend the iPhone maker?s tax practices. |
Seeking Alpha
The Street.com
| Cramer\'s \'Mad Money\' Recap: Money Talks Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener. NEW YORK (TheStreet) -- Money talks and statistics walk, Jim Cramer proclaimed on "Mad Money" Tuesday. He sounded off against those investors who rely solely on month-old government surveys to make their investment decisions. "Cramer don't play that," he continued, offering Home Depot as the perfect example of why looking in the rear-view mirror is no way to invest. ... Click to view a price quote on HD. Click to research the Retail industry. Bubble, Bubble, Are We in Trouble? NEW YORK (TheStreet) --Major U.S. stock indexes continue climbing further into bubble territory as investors ignore weak economic news and count on the Federal Reserve to keep the money spigots open. All major indexes remain overbought and in record territory, according to several technical indicators. ... Cramer\'s 6 Stocks in 60 Seconds: VFC FL MDT PCLN BZH FCX (Update 1) Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus". (Updates from 10:50 a.m. ET with closing information.) NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk On The Street" Tuesday. Wells Fargo downgraded VF Corp to hold from buy but Cramer disagreed because "I think VF is good." VFC was flat at $186.15. Foot Locker reports earnings on Friday. "When they say things are good, that means Nike is a buy," Cramer said. FL ended the day 1% lower at $36.30. Medtronic reported strong earning. Cramer noted the company "finally did the blowout quarter that people have been waiting for and people suddenly love it." MDT felt the love, up 4.9% to $52.35. Priceline stock is taking a breather, but Cramer doesn't expect that to last long, noting that Expedia's Hotels.com "is on fire." PCLN fell 2% to $825.96. Beazer Homes USA was downgraded by Sterne Agee. Cramer thinks homebuilders have much more room to go but admitted Beazer is his "least favorite in the group." BZH was off 4.3% to $21.75. Freeport-McMoRan was placed on Deutsche Bank's short-term buy list and Cramer says there's a move to cyclicals "like you wouldn't believe percolating underneath. Even this one may have its day." FCX closed 2.7% lower at $31.98. ... Click to view a price quote on VFC. Click to research the Consumer Non-Durables industry. Cramer Quick Take: Flying With Spirit Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus". NEW YORK (TheStreet) -- "Mad Money" Research Director Nicole Urken sat down with TheStreet's Jim Cramer to discuss the recent weakness in the airline sector. Both said Spirit Airlines is their favorite company in the sector. Cramer noted the company's CEO, Ben Baldanza, was on "Mad Money" Monday, defending the fees the airline charges for services. Spirit does have a lot of fees, Cramer said, but it results in a cheap airline ticket, which is something that appeals to consumers. "Understand that stocks don't go to the sky," Cramer said, referring to how to invest in airline stocks. People constantly ask him what to do when airline stocks are down for a day or two, he said. Airline stocks are "a multi-year move. If you can't handle that, please just go into an index fund," he concluded. Urken pointed out, there's essentially two worlds in the airline space: There's the oligopoly that consists of four major players, and there's the rest of the companies that are competing for the remaining profit. Cramer emphasized his bullish stance on the industry, stating, "I make mistakes, but this is not one of them." Urken finished by saying, "If you don't want to buy on a little bit of a pullback, then you're not in the game." ... Click to view a price quote on SAVE. Click to research the Transportation industry. Saks Spikes on Report Goldman Sachs Hired for Buyout NEW YORK (TheStreet) - Saks spiked on Tuesday after a report that the luxury retailer has hired Goldman Sachs to "explore strategic alternatives, including the possibility of a sale." The owner of Saks Fifth Avenue, whose flagship store in Manhattan could be worth more than $1 billion alone, hired Goldman Sachs in recent weeks, according to the NY Post. Shares were adding 18% in after market trading after closing at $13.67, an 11% gain. Roughly 11 million shares were traded on Tuesday, more than five times the average three-month daily volume, according to Yahoo! Finance. ... Click to view a price quote on SKS. Click to research the Retail industry. JPMorgan Chase: Dimon Winner NEW YORK (TheStreet) -- JPMorgan Chase was the winner among the nation's largest banks on Tuesday, with shares rising 1.4% to close at $53.02. The broad indices all rose on Tuesday, after Jim Cramer earlier called this year's very strong run for stocks "the most ignominious bull market of all time." "The market has taken out a record set in 1927, set two years before the great crash, and that represents a remarkable statement about just how dangerous this stock market really is," Cramer wrote. The broad market was up for a 19th consecutive Tuesday. The previous record of market increases was 15 consecutive Tuesdays, set in 1927, two years before the market crash of 1929. ... Click to view a price quote on JPM. Click to research the Banking industry. Oklahoma Relief Efforts Feature Small Businesses, Local Heroes NEW YORK (MainStreet) -- "I just got through walking an area that can only be described as a living nightmare," said Robert Norris, 31, an Oklahoma City resident who surveyed the tornado-borne damage in nearby Moore, Okla. Norris, who is the owner-operator at Certa Pro Painters in Edmond, Okla., initiated a program he calls "2 Men, 1 Truck" to deliver relief supplies to those in need from the aftermath of the F-4 twister. He had friends have their Chevy Silverados and Ford F-150s at the ready to convey food, tools and first aid kits. Also see: 5 Must-Have Diaster Apps ... Stocks Ride Home Depot as Bullard Boosts Bulls NEW YORK (TheStreet) -- U.S. stocks rallied off session lows on Tuesday as St. Louis Federal Bank President James Bullard said quantitative easing remains the best monetary policy option right now. Bullard, speaking in Frankfurt, said financial markets have demonstrated that the bank's stimulus efforts have aided the U.S. recovery following the 2008-2009 recession. The S&P 500 gained 0.17% to close at 1,669.16. ... Click to view a price quote on ^DJI. The Deal: Actavis Extends Gains Following Warner Deal NEW YORK (TheDeal) -- Actavis Inc.'s $8.5 billion deal for specialty pharmaceutical company Warner Chilcott plc will serve to enhance the New Jersey drugmaker's revenue mix and balance sheet, and heighten its profile for future dealmaking, executives said on a conference call Monday. Actavis added 2.3% on Tuesday to $130.08 while Warner jumped 3.8% to $20.34. "It augments our specialty brand business in our core therapeutic market categories of women's health and urology, as well as expanding into the gastrointestinal sectors, new therapeutic qualities for us," Actavis CEO and president Paul Bisaro said on a conference call on Monday. "The combined company is going to be in the top 20 of global pharmaceutical companies in terms of sales with a substantial presence in both generics and brand products." ... Click to view a price quote on WCRX. Click to research the Drugs industry. Tim Cook Should Tell Congress to Kiss His Ass NEW YORK (TheStreet) -- The spectacle on Capitol Hill Tuesday highlights, first and foremost, what's wrong with our country and, secondarily, what's wrong with Apple . Second point first. There's no question Tim Cook is killing it in front of that Senate panel. In so many words, he is telling legislators to kiss his ass. I applaud him for that. Meantime, Microsoft unveiled its next generation Xbox today. It looks pretty impressive. A serious play to take control of the social living room. ... Click to view a price quote on AAPL. Click to research the Consumer Durables industry. |
Nasdaq
Yahoo Business
 Asian stocks cheered by Fed reassurance; BOJ stands pat  By Masayuki Kitano and Vidya Ranganathan SINGAPORE (Reuters) - Asian stocks rose on Wednesday following a positive lead from Wall Street, with Japan's Nikkei reaching a fresh 5-1/2 year high and clinging to its gains as the Bank of Japan stood pat after unleashing massive stimulus last month. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent, reversing some of Tuesday's 0.4 percent decline. The South Korean market climbed 0.8 percent. Tokyo's Nikkei gained 1.2 percent, breaking above 15,500 for the first time in over five years. ...BOJ holds steady despite bond turmoil, upgrades economic outlook  By Stanley White and Leika Kihara TOKYO (Reuters) - The Bank of Japan kept policy steady on Wednesday despite concerns over recent volatility in bond market, saying growth is starting to pick up even as risks loomed from an uncertain global outlook. The central bank upgraded its assessment of the economy, saying it "has started picking up," as Prime Minister Shinzo Abe's program of aggressive fiscal and monetary stimulus has boosted sentiment and a weaker yen has halted a decline in exports. ...The Irish loophole behind Apple\'s low tax bill  By Tom Bergin LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. A U.S. Senate investigation revealed Tuesday that Apple, maker of iPhones, iPads and Mac computers, channeled profits into Irish-incorporated subsidiaries that had "no declared tax residency anywhere in the world. ...Exclusive: Bob Lutz, Chinese in bid to buy Fisker Automotive - sources  By Deepa Seetharaman DETROIT (Reuters) - A boutique carmaker led by former General Motors Co executive Bob Lutz and China's largest auto parts supplier made an offer this month to buy cash-strapped "green" car company Fisker Automotive, people familiar with the matter said. VL Automotive and China's Wanxiang Group are looking to gain control of Fisker through a prepackaged bankruptcy. This comes alongside a separate push by investors in Europe and Hong Kong, including billionaire Richard Li, to buy out the U.S. Department of Energy's position in Fisker. ...Apple CEO makes no apology for company\'s tax strategy  By Patrick Temple-West and Kevin Drawbaugh WASHINGTON (Reuters) - Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in U.S. taxes through Irish subsidiaries and told lawmakers that his company backs corporate tax reform, even though it may end up paying more. The Senate Permanent Subcommittee on Investigations has found that Apple in 2012 alone avoided paying $9 billion in U.S. taxes, using a strategy involving three offshore units with no discernible tax home, or "residence. ...Prosecutors consider using racketeering law against SAC: source  By Emily Flitter NEW YORK (Reuters) - Prosecutors are considering charging Steven A. Cohen's SAC Capital Advisors as a criminal enterprise engaged in a long pattern of insider trading in stocks, according to a person familiar with the matter. Prosecutors may use the Racketeer Influenced and Corrupt Organizations Act, most commonly associated with prosecutions against the mafia, to move against Cohen's $15 billion hedge fund company, said the person, who spoke on condition of anonymity. While this is one option under consideration, no final decision has been made, the source added. ...Merck signs $5 billion share buyback agreement with Goldman Sachs  (Reuters) - Merck & Co Inc said it has entered into a $5 billion share repurchase agreement with Goldman Sachs Group Inc, as the drug giant looks to prop up shareholder value in face of stiff competition from makers of less-costly generics. Under the accelerated share repurchase agreement (ASR), Merck has agreed to repurchase about 99.5 million shares from Goldman Sachs based on current market prices. ...Dimon clings to JPMorgan chairman title, after fight  By David Henry TAMPA, Florida (Reuters) - Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co took an unusual step to fight off investors seeking more oversight of his activities - he hinted he might quit. And it worked. At the bank's annual meeting on Tuesday, JPMorgan shareholders voted down a proposal to strip Dimon of his chairmanship, giving the measure even less support than last year. Investors showed some unhappiness with the bank's management by only barely re-electing three directors who oversaw a massive trading loss last year. ...Ford adds production in North America to meet new car demand  By Deepa Seetharaman DETROIT (Reuters) - Ford Motor Co is adding a week of production at 20 North American factories this year to build an additional 40,000 vehicles and help sustain its gains in U.S. market share. The second-largest U.S. automaker said on Wednesday that those factories will be idled for just one week this summer instead of the traditional two-week "summer shutdown" period. This is the second year in a row that the automaker has taken this step. The added capacity comes at a time when Ford sales are outpacing the overall U.S. auto market. Strength in the U.S. ...Dow, S&P end at records on Fed officials\' reassurance  By Angela Moon NEW YORK (Reuters) - Stocks rose on Tuesday, with the Dow and the S&P 500 closing at new all-time highs as Federal Reserve officials' comments eased some concerns that the central bank could start reducing its stimulus program. Dow component Home Depot gave the market a lift after the world's largest home improvement chain raised its profit outlook, driving its stock to a record intraday high. JPMorgan also bolstered the Dow, rising more than 1 percent to a 52-week high after the bank's chief executive won a vote of confidence from shareholders. ... |
Forbes
| Season Ending Thoughts On The Top Of The 2012/13 EPL Table Another Premier League season has come-and-gone. While the league?s quality might have regressed versus others in Europe and the title race a bit too predictable by mid-season, there were many storylines that proved compelling enough through the final weeks of the season. Curiosity Drills A Second Hole On Mars Earlier this week, the Mars rover Curiosity used its robotic arm to drill a hole into a Martian rock and collect a sample from its interior. This marks both the second time that Curiosity has collected such a sample, and the second time any such sample has been collected from Mars, period. The hole was about 2.6 inches deep and about 0.6 inches in diameter. The Xbox One Is Targeting The Largest Market Of All: Television Watchers Microsoft has sold 76 million units of the Xbox 360 since its release in 2005. Or shall I say, a mere 76 million units. That's because over 96% of Americans homes have a television while only 49% of U.S. households own a game console. From where I'm standing, it looks like Microsoft wants to close that gap with its next-generation console, Xbox One. $105,000 Trip Of A Lifetime - The World By Private Jet With Abercrombie & Kent Founder In 1962, Geoffrey Kent, who was born in East African while his parents were on safari there, founded Abercrombie & Kent along with his mother and father to offer highly personalized guided travel to Africa. In the ensuing half century, the company has become synonymous with luxury and expertly guided excursions to all corners of the earth, active and decadent, group and totally bespoke, on every manner of small ship, plane, and animal conveyance. They offer river and canal cruises, arctic exploration, private island and villa rentals, and now, a unique once in a lifetime tour of some the world?s greatest and most offbeat destinations by private jet - guided by Kent himself. China Declares Global State of Emergency: An Urgent Telegram from Taihu On May 18th, China?s 4th most powerful politician, Yu Zhengsheng, Chairman of the National Committee of the CPPCC (Chinese People?s Political Consultative Conference) opened the Second Conference of the (carbon-neutralized) Taihu World Cultural Forum in Hangzhou, a city one hour by speed train southwest of Shanghai. ?What kind of a planet will we leave to our descendants? This is an urgent subject which deserves the collective attention of the whole world,? he said with a sincere air of emergency. The June 7-8 Obama-Xi Summit: Likely Start Of A (Better) New Asian Order Less than three weeks from now, Barack Obama will have the opportunity to become a transformational They Will Change Your Life. The 7 Non-Negotiables Of Winning Today, I would like to share the principles that have transformed me and our company and a growing number of people across the globe. They are simple and powerful and I promise you that if you make the time to learn and apply them new avenues of promise and possibility will open for you. I share my personal journey and I am honored to share the story of a small company that works together every day to achieve great things in my book, The 7 Non-Negotiables of Winning: Tying Soft Traits To Hard Results, due out from Wiley Publishing on July 29. What The Government\'s Big-Data Dump Tells Us About The Hospital Market Mainly, it tells us that there?s not much of a market. How You Too Can Be an Unstoppable Entrepreneur We all know at least one entrepreneur who always gets things done, and appears unstoppable in his quest. All of you probably know many others who talk incessantly about their great ideas, but never seem to even get started, or they give up at the first obstacle. What are the attributes that make an entrepreneur unstoppable, and is it possible for people to learn to be unstoppable? They Will Change Your Life. The 7 Non-Negotiables Of Winning Today, I would like to share the principles that have transformed me and our company and a growing number of people across the globe. They are simple and powerful and I promise you that if you make the time to learn and apply them new avenues of promise and possibility will open for you. I share my personal journey and I am honored to share the story of a small company that works together every day to achieve great things in my book, The 7 Non-Negotiables of Winning: Tying Soft Traits To Hard Results, due out from Wiley Publishing on July 29. |
New York Times Business
| Japan Keeps Monetary Policy Steady Rising bond yields left the central bank with less room to maneuver as it injects money into the economy, analysts said. For U.S. Companies, Money ?Offshore? Means Manhattan In the convoluted world of corporate tax accounting, corporate money that is technically overseas is often held in American banks. Advertising: Army Tries a Reality Style for Recruitment The Army is trying to produce commercials styled like a television reality series because younger people increasingly ignore traditional forms of advertising. Xbox One Enters Changed Gaming Landscape Microsoft?s new game console also serves as a home entertainment hub, a response to the rising popularity of mobile devices for playing games. Ireland Defends Tax Laws to Critics at Home and Abroad Other countries have long been annoyed by Irish tax laws, but the benefit to the struggling country?s economy means the rules are unlikely to change. MetLife Will Repatriate an Offshore Reinsurance Unit The life insurance company is bringing Exeter Reassurance of Bermuda back to the United States to alleviate regulatory concerns. Deal Professor: Buffett, With His Magic Touch, May Be Irreplaceable Warren Buffett is a skilled deal maker, but who will negotiate such favorable deals for Berkshire Hathaway after he is gone? DealBook: Fallen Goldman Director Appeals for a New Trial A lawyer argued that Rajat Gupta, found guilty of leaking boardroom discussions, should be granted a new trial because a judge erroneously admitted wiretapped conversations. High & Low Finance: One Response to Apple Tax Strategy May Be to Copy It An unintended consequence of a Senate hearing might be companies deciding to take advantage of the same loopholes as Apple. DealBook: Strong Lobbying Helps Dimon Thwart a Shareholder Challenge A JPMorgan Chase shareholder resolution to split the chairman and chief executive roles became a referendum on Jamie Dimon himself. It was a test he easily passed. |
Fox Business
| BOJ keeps policy on hold; Kiuchi proposes looser price target timeframe The Bank of Japan on Wednesday decided to keep monetary policy on hold, but one board member tried unsuccessfully to loosen the central bank's commitment to achieving its 2 percent inflation target within two years. China Big Four Banks\' New Lending Surged in May China's four largest banks issued 233 billion yuan ($38 billion) new loans in the first 21 days of May, up 30% from the same period a month earlier, the 21st Century Business Herald reported Wednesday, citing unnamed sources. Merck signs $5 billion share buyback agreement with Goldman Sachs Merck & Co Inc said it has entered into a $5 billion share repurchase agreement with Goldman Sachs Group Inc, as the drug giant looks to prop up shareholder value in face of stiff competition from makers of less-costly generics. Bank of Spain Finds Banks Hide Real NPL Ratio Bank of Spain inspectors have detected that the banking sector is hiding part of their clients' real nonperforming loans by refinancing them once and again, reports El Mundo in its Wednesday Internet edition. China Big Four Banks New Lending Surged in May - Report China's four largest banks issued 233 billion yuan ($38 billion) new loans in the first 21 days of May, up 30% from the same period a month earlier, the 21st Century Business Herald reported Wednesday, citing unnamed sources. Australia Forecaster Sees Resource Investment Dip The value of investment in Australia's resources industry may collapse by more than two-thirds over the next five years as major projects are completed and companies scale back expansion plans, according to the government's commodity forecaster. IMF to Urge U.K. to Sell Stakes in RBS, Lloyds -Report Disposing of the public holdings in Royal Bank of Scotland Group PLC (RBS, RBS.LN) and Lloyds Banking Group PLC (LYG, LLOY.LN) should be a priority for the U.K. government, the International Monetary Fund is expected to say Wednesday, according to The Times newspaper in London. Japan exports disappoint, full benefits of weak yen yet to show Japan's exports rose less than expected in April from a year earlier due to weak demand from Europe and China, highlighting the challenges confronting the world's third-biggest economy as policymakers try to engineer a sustained revival. Bank Of Spain Finds Banks Hide Real NPL Ratio on Retail Mortgages -Report Bank of Spain inspectors have detected that the banking sector is hiding part of their clients' real nonperforming loans by refinancing them once and again, reports El Mundo in its Wednesday Internet edition. Sony shares hit two-year high on report of spin-off proposal Shares of Sony Corp rose 6. |
| BOJ keeps policy on hold; Kiuchi proposes looser price target timeframe The Bank of Japan on Wednesday decided to keep monetary policy on hold, but one board member tried unsuccessfully to loosen the central bank's commitment to achieving its 2 percent inflation target within two years. China Big Four Banks\' New Lending Surged in May China's four largest banks issued 233 billion yuan ($38 billion) new loans in the first 21 days of May, up 30% from the same period a month earlier, the 21st Century Business Herald reported Wednesday, citing unnamed sources. Merck signs $5 billion share buyback agreement with Goldman Sachs Merck & Co Inc said it has entered into a $5 billion share repurchase agreement with Goldman Sachs Group Inc, as the drug giant looks to prop up shareholder value in face of stiff competition from makers of less-costly generics. Bank of Spain Finds Banks Hide Real NPL Ratio Bank of Spain inspectors have detected that the banking sector is hiding part of their clients' real nonperforming loans by refinancing them once and again, reports El Mundo in its Wednesday Internet edition. China Big Four Banks New Lending Surged in May - Report China's four largest banks issued 233 billion yuan ($38 billion) new loans in the first 21 days of May, up 30% from the same period a month earlier, the 21st Century Business Herald reported Wednesday, citing unnamed sources. Australia Forecaster Sees Resource Investment Dip The value of investment in Australia's resources industry may collapse by more than two-thirds over the next five years as major projects are completed and companies scale back expansion plans, according to the government's commodity forecaster. IMF to Urge U.K. to Sell Stakes in RBS, Lloyds -Report Disposing of the public holdings in Royal Bank of Scotland Group PLC (RBS, RBS.LN) and Lloyds Banking Group PLC (LYG, LLOY.LN) should be a priority for the U.K. government, the International Monetary Fund is expected to say Wednesday, according to The Times newspaper in London. Japan exports disappoint, full benefits of weak yen yet to show Japan's exports rose less than expected in April from a year earlier due to weak demand from Europe and China, highlighting the challenges confronting the world's third-biggest economy as policymakers try to engineer a sustained revival. Bank Of Spain Finds Banks Hide Real NPL Ratio on Retail Mortgages -Report Bank of Spain inspectors have detected that the banking sector is hiding part of their clients' real nonperforming loans by refinancing them once and again, reports El Mundo in its Wednesday Internet edition. Sony shares hit two-year high on report of spin-off proposal Shares of Sony Corp rose 6. |
BBC Business (UK)
| Apple\'s Tim Cook defends tax claim Apple boss Tim Cook defends its tax strategy at a Senate hearing, after the tech giant is accused of being among America's largest tax avoiders. HMRC to miss tax credit fraud target The UK tax authority's failure to hit a target of reducing tax credit fraud and error has "cost the taxpayer dear", a committee of MPs says. Microsoft unveils Xbox One console Microsoft unveils the third generation of its video games console in an event at its headquarters at Redmond, Washington. Record closing high for US shares Shares on Wall Street picked up on Tuesday to a new all-time high as investors bet that the US central bank would continue supporting the economy. Marks and Spencer sees profits fall Marks and Spencer reports a big fall in annual profits, as troubles in its clothing division continue. JP Morgan boss wins shareholder vote JP Morgan chairman and chief executive Jamie Dimon will keep both jobs after shareholders voted in his favour. Pound falls after dip in inflation The pound falls after lower fuel prices lead to a lower-than-expected inflation rate of 2.4% for April. Former Saab cars chiefs arrested Three former top executives from car maker Saab Automobile have been arrested in Sweden on suspicion of accounting fraud charges. |
Reuters Finance
| Asian stocks cheered by Fed reassurance; BOJ stands pat SINGAPORE (Reuters) - Asian stocks rose on Wednesday following a positive lead from Wall Street, with Japan's Nikkei reaching a fresh 5-1/2 year high and clinging to its gains as the Bank of Japan stood pat after unleashing massive stimulus last month. BOJ holds steady despite bond turmoil, upgrades economic outlook TOKYO (Reuters) - The Bank of Japan kept policy steady on Wednesday despite concerns over recent volatility in bond market, saying growth is starting to pick up even as risks loomed from an uncertain global outlook. Prosecutors consider using racketeering law against SAC: source NEW YORK (Reuters) - Prosecutors are considering charging Steven A. Cohen's SAC Capital Advisors as a criminal enterprise engaged in a long pattern of insider trading in stocks, according to a person familiar with the matter. Ford adds production in North America to meet new car demand DETROIT (Reuters) - Ford Motor Co is adding a week of production at 20 North American factories this year to build an additional 40,000 vehicles and help sustain its gains in U.S. market share. Apple CEO makes no apology for company\'s tax strategy WASHINGTON (Reuters) - Apple Inc Chief Executive Tim Cook made no apology on Tuesday for the iPad maker saving billions of dollars in U.S. taxes through Irish subsidiaries and told lawmakers that his company backs corporate tax reform, even though it may end up paying more. Merck signs $5 billion share buyback agreement with Goldman Sachs (Reuters) - Merck & Co Inc said it has entered into a $5 billion share repurchase agreement with Goldman Sachs Group Inc, as the drug giant looks to prop up shareholder value in face of stiff competition from makers of less-costly generics. The Irish loophole behind Apple\'s low tax bill LONDON (Reuters) - Apple's ability to shelter billions of dollars of income from tax has depended on an unusual loophole in the Irish tax code that helps the country compete with other countries for investment and jobs. Ex-strategist can sue UBS as whistleblower: U.S. judge NEW YORK (Reuters) - UBS AG lost a bid Tuesday to dismiss a whistle-blower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for refusing to publish misleading research reports. Japan exports disappoint, full benefits of weak yen yet to show TOKYO (Reuters) - Japan's exports rose less than expected in April from a year earlier due to weak demand from Europe and China, highlighting the challenges confronting the world's third-biggest economy as policymakers try to engineer a sustained revival. Dimon clings to JPMorgan chairman title, after fight TAMPA, Florida (Reuters) - Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co took an unusual step to fight off investors seeking more oversight of his activities - he hinted he might quit. |
Barrons
| Cues From Cooperman How Wall Street titan Leon Cooperman stays on top in investing and philanthropy. A Remarkable Writer and Friend Our tribute to Alan and his work. Colleagues, Wall Street Friends and Readers Remember Alan Abelson A sampling of the letters that poured in after the death of the longtime Barron's columnist. Reader Remembrances for Alan Abelson Barron's readers share their thoughts and feelings about Alan. Ryder Is Comin\' at You From Every Angle The truck-leasing and logistics company's profits have been beating forecasts, and its shares could rise about 20%. Hold the Phone?Europe\'s Telecoms Are on Sale European telecoms have put infrastructure spending on hold, causing their technology?and share prices?to fall behind. But don't hang up on them yet. China\'s King of All Social Media Tencent is China's Facebook, Twitter, Zynga, and Tumblr all rolled into one, and it's pushing hard into e-commerce. How it stays on top, and why the shares could climb 20%. The Unknown Life Insurer Newly public life-insurer and retirement-services outfit ING U.S. is undervalued and misunderstood, trading at half the valuation of some of its rivals. Why the shares could rise 30%?or more in a takeover. When Thrift Pays After a second-step conversion, Northfield Bancorp's in tip-top shape. Also, time to take profits in Big Five Sporting Goods. A Model Portfolio John Chisholm's Acadian Emerging Markets fund uses a quantitative model to find undervalued stocks with good growth potential in countries with supportive monetary policies. |
eFinancial News
| Wall Street\'s giants try \'flow monster\' formula Welcome to the new Wall Street where back office work trumps backslapping Fed paper urges trading revamp A Fed official said high-frequency trading has inflated transaction costs with limited benefits CFTC criticised for handling of MF Global An investigation into the regulator cast chairman Gary Gensler in a negative light Morgan Creek swans into Europe with Signet deal The US asset manager's acquisition of Signet Capital Management is the latest sign of consolidation in the struggling fund of hedge funds sector JP Morgan Chase says all directors re-elected Shareholders reject a proposal to split Dimon's roles as chief executive and chairman Greenhill healthcare hire leads $8.5bn deal Rupert Hill, who joined Greenhill last October, is named as one of the US boutique's lead advisers on a multibillion-dollar deal in the sector Would the City suffer or benefit if the UK quit the EU? The debate about whether the UK should leave the European Union heated up last week following the strong showing of the anti-EU UK Independence Party in local elections EU sets June deadline for Ice-NYSE review European antitrust authorities will deliver their verdict on the $10bn merger by June 24 Morgan Stanley offshoot in Dutch tax review The tax position of a Dutch subsidiary of Wall Street bank Morgan Stanley is currently under review by the Dutch authorities Provincial bankers are giving the City of London a bad name It doesn’t really matter whether the retail bank is being protected from the investment bank or vice versa; the key is that the two entities will be separated |
Wall Street Journal
 Prosecutors Weigh Use of RICO in SAC Case It is rare for an investment firm to be charged under the Racketeer Influenced and Corrupt Organizations Act, a powerful legal tool used against the Mafia and drug gangs. Investors Brave Loans That Fly Solo The market for bonds backed by a single loan on commercial real estate is booming for the first time since the financial crisis. Ford to Increase North American Output Ford plans to increase its North American manufacturing capacity by 200,000 vehicles through a series of production-line expansions and a shortening of its summer shutdowns. Labor Woes Jolt South African Assets South Africa's currency stumbled to a four-year low and the country's bonds sold off, signs that escalating labor unrest is starting to outweigh the lure of high yields for many investors. Phone Firms Sell Data on Customers Big phone companies have started to sell the data they gather about subscribers' locations, travels and Web-browsing habits, providing a powerful tool for marketers but raising new privacy concerns. Australian Consumers Turn Gloomier Australian consumer sentiment fell for the second straight month, denting hopes that households will lead a recovery as the long mining boom slows. Philip Morris to Buy Mexican Unit Philip Morris International has agreed to buy the 20% that it doesn't already own in its Mexican tobacco business for about $700 million. The stake is currently held by Grupo Carso SAB, a conglomerate founded by Carlos Slim. Japan Trade-Deficit Streak Continues Japan ran its 10th straight monthly trade deficit in April, the longest stretch of red ink since 1980, a sign that a weaker yen isn't yet a panacea for the export-led economy. Nikkei Outperforms Asia on Weaker Yen Japanese stocks outperformed Asian markets on Wednesday as the yen resumed its weakening trend and no surprises emerged from the Bank of Japan's policy meeting outcome. The Nikkei rose 1.2%. New Energy Chief Is Cautious on Gas Exports New U.S. Energy Secretary Ernest Moniz raised the possibility of delaying further approvals for companies to export natural gas, saying he wants to review whether government studies of the issue are adequate. |
Financial Times (London)
 Asian shares rally ahead of Bernanke testimony Japan stocks lead rally, with investors waiting for Federal Reserve chairman Ben Bernanke?s testimony before Congress later in the day Cheap debt fuels executive share buybacks More than half of all buybacks by US non-financial companies in the first quarter were used to repurchase stock options, according to Société Générale US farmland faces asset bubble test Prices have doubled as the Fed has held interest rates at lows and amid strong demand. What will happen when monetary policy tightens and grain supply grows Central bankers turn deaf ear to warnings Despite poor progress on reducing big deficits and debt, the yields on US and UK government bonds fell and their currencies appreciated. But price moves in markets now show a different story Move into ?junk? stocks powers bull run The best performers in the current quarter are those that lagged behind from January to March, according to Bespoke Investment Group analysis Kyle Bass bets on full-blown Japan crisis While hedge-fund trade of the year has been to short the yen and buy Japanese stocks, he sees signs of stress he has been predicting for three years US money market funds warm to eurozone Exposure to Europe?s banks was 14 per cent higher as Italy?s recent political difficulties and Europe?s mishandling of Cyprus crisis is shrugged off US stocks close at fresh high Five of 10 main industry groups on the benchmark rise, with companies that sell non-essential items to consumers leading the gainers ARM lags as FTSE hits highest since 1999 A bullish message from Arm management at an investor day fails to keep the stock at a record high while gold miners? rebound helps London index rise 0.7% Investors sit out European rally As the continent?s shares near a five-year high, equity trading volumes fall to their thinnest level since June 2001, an average of 1.8bn shares a day |
CNBC
CNBC Asia
Business Insider
Google Business
Daily FX
| Dollar Steady Through Fed Chatter, Bernanke and FOMC Minutes Due The dollar put in for a volatile session thanks to the stimulus speculation Fed commentary stirred, but ultimately the benchmark closed in the green. GBP/USD- Trading the Bank of England (BoE) Minutes The Bank of England (BoE) Minutes could be a game-changer for the British Pound as market participants weigh the outlook for monetary policy. GBPUSD Triggers 1.5127 Target- Cautiously Bearish Below 1.53 The pound has now achieved the third objective cited last week and the risk of a near-term pullback has our scalp bias at risk above 1.5127. Here are the key levels. USD Traders Eye FOMC, Bernanke- AUD Correction Should Be Sold The rebound in the Dow Jones-FXCM U.S. Dollar index may gather pace over the next 24-hours of trading should the FOMC Minutes sap bets for more quantitative easing. Bearish Euro Formation Remains Intact- EU Summit to Disappoint The EURUSD is struggling to hold its ground ahead of the EU meeting in Brussels amid a renewed flight to safety. Crude Oil, Gold Look to Fed-Speak for Direction Cues Commodity prices look to commentary from Fed Presidents Bullard and Dudley to shape QE progression expectations and offer direction cues. Lower Inflation Makes Way for a More Dovish BoE, Pound Declines Inflation fell to a seven month low of 2.4% in April; BoE expects a peak of 3.1% inflation this year… British Pound May Weaken as Soft CPI Drives Dovish BOE Bets The British Pound may fall as CPI inflation hits a seven-month low, driving expectations of an expanded BOE stimulus effort on the horizon. GBP/USD- Trading the U.K. Consumer Price Report The British Pound may struggle to hold its ground ahead of the Bank of England (BoE) Minutes should we see a marked slowdown in U.K. inflation. Dollar Retreats Before Key Fed Officials Weigh In on QE3 Having charged forward under one of the strongest two-week advances in nearly 18-months, the Dow Jones FXCM Dollar Index (ticker = USDollar) was in for a breather. Scalping the USDCHF Correction- Buying Dips Above 0.9540 As the USDCHF rebounds off the key resistance range between 9720 & 9750, we anticipate pullbacks to offer favorable entries as the broader outlook remains constructive. USD Downside Limited by Fed Policy- JPY to Mark Fresh Lows The Dow Jones-FXCM U.S. Dollar index pared the advance from earlier this month, but the greenback should continue to benefit from the shift in the policy outlook. |
Nikkei News (Japan)
China Briefing News
| China Releases Administrative Measures on Foreign Debt Registration China released the ?Circular on Administrative Measures for Foreign Debt Registration? on April 28, which came into effect on May 13, 2013. Detailed information can be found below. Continue reading China Allows Private Equity Investment in Insurance Companies China released the ?Circular on Relevant Issues regarding the Investment and Shareholding of Limited Partnership Equity Investment Enterprises in Insurance Companies? on April 24, which allows the limited partnership equity investment enterprises to invest in the insurance companies. Detailed information can be found here. Continue reading Tax Implications of a Service Permanent Establishment By Eunice Ku and Shirley Zhang May 20 – With an increasing number of foreign enterprises starting to conduct business in China, tax liabilities resulting from business activities within the country are fast becoming an issue of key concern. If China Issues Opinions on Work-Related Injury Insurance China released the ?Opinions on Certain Issues Concerning the Implementation of the Regulations on Work-Related Injury Insurance" on April 25, 2013, which carifies serveral issues regarding the implementation of the Regulations. Detailed information can be found here. Continue reading India Poised to Be China?s New Engine for Growth Regional demographics mean China must cozy up to India or face consequences Op-Ed Commentary: Chris Devonshire-Ellis May 17 ? Quite possibly the most senseless foreign policy position China has taken over the years has been its stance towards Japan. With |
Freakonomics
Economist
Motley Fool
| When It Comes to Dimon, Here\'s What JPMorgan Chase Shareholders Should Be Looking At Did shareholders make the right choice? Dow Moves Higher on Fed Remarks, Home Depot Earnings The blue chips moved up 0.3% on Fed comments, and could jump tomorrow as Ben Bernanke speaks before Congress. How Disruptive Could a New Sprint Be? A new Sprint could shake up the wireless world. When a Roth 401(k) Makes the Most Sense These retirement plans are getting more popular, but are they right for you? Technip, in Consortium with Samsung and Huanqiu, Awarded Contract for LNG Project in Canada Why Monro Muffler Brake Shares Shot Up Is this meaningful? Or just another movement? What These Laggards Say About the Dow\'s Record Close The Dow hit another all-time high, but not all stocks benefited. Don\'t Buy the Negative Hype on Jamie Dimon Here are a few reasons why JPMorgan's controversial CEO isn't as bad as they say. |
Business News Daily
| What is Big Data? Big Data refers to the vast amount of information businesses are gathering. Analyzing it could be a hidden treasure of information about customers and clients. Are Workaholics Good For Your Business? The secret to minimizing burnout and stress among workaholics. How Much Time Do Smartphones Save? 22 Days a Year Smartphone users say apps are saving them lots of time and money. Malls Attract Shoppers Looking for an \'Experience\' The mall also affords shoppers the ability to buy it today and wear it today. Cloud Computing Sparks SMB Innovation & Growth Businesses looking for a leg up on the competition need to look more to cloud solutions. Apps Drive Shift in Consumer Behavior Shoppers are changing their habits and their smartphones are at the center of that change. How Supporting a Cause Positively Affects Your Business These tips will set your company up for successful fundraising while building community at the same time. Mobile Wallet: Definition & Apps Mobile wallets let you make payments with your smartphone. There are a variety of mobile wallet apps. |
Huffington Post Business
EU Business (Europe)
| EU leaders face tough talks at tax fraud summit Leaders of recession-hit Europe take a fresh stab at fighting tax fraudand evasion worth a trillion euros a year at a summit Wednesday but seemunlikely to convince reluctant Austria and Luxembourg to sign on. Europe faces \'decade of stagnation\' if no reforms: Carney Europe faces a "decade of stagnation" if it does not move on momentousreforms to put its fiscal house back in order, Bank of Canada GovernorMark Carney warned Tuesday. EU set to brand Lebanon\'s Hezbollah as \'terrorists\' Ending months of hesitation, the European Union opened the door Tuesdayto adding the military wing of Lebanon's Hezbollah to its list ofinternational terrorist groups, EU diplomats told AFP. Cyprus minister says 2013 GDP fall could be double-digit Cypriot Finance Minister Haris Georgiades said on Tuesday the island could suffer a double-digit contraction in GDP this year as a result of swingeing cuts adopted in return for a eurozone bailout. Nabucco pipeline project awaits Azerbaijan commitment Officials from five countries with stakes in the Nabucco European pipeline project said Tuesday they were confident it will benefit from crucial Azerbaijan gas supplies. US does not differentiate between Hezbollah arms: official The United States said Tuesday it does not differentiate between Hezbollah's armed and political wings as it again urged Europe to blacklist the group, a decision diplomats indicated could be imminent. |
Money Morning
Daily Finance
Zacks Investment Research
| Bayer Files Riociguat in Japan - Analyst Blog Bayer submitted a regulatory application for its CTEPH candidate, riociguat, in Japan. Accenture Secures Tokyo Gov\'t Job - Analyst Blog Accenture plc.has secured a big job order from the Tokyo Metropolitan Government (TMG). Positive Data on Novartis\' Afinitor - Analyst Blog Novartis (NVS) recently announced positive results on Afinitor, from a phase III trial, BOLERO-3. Yahoo to Open Office in Times Square - Analyst Blog Yahoo! Inc. recently announced that it will open a new corporate office in New York's Times Square, and also introduced a new design for its photo-sharing service Flickr. Parker Hannifin Reaches 52-Week High - Analyst Blog The new high was primarily driven by the company's ability to consistently raise dividends and supported by its strong balance sheet. Goldman to Buy Keppel REIT Stake - Analyst Blog The Goldman Sachs Group, Inc. announced its intention to buy a 6.7% stake in Keppel REIT from a subsidiary of Keppel Corporation Limited for S$279.9 million. RenaissanceRe to Issue Preferred Shares - Analyst Blog RenaissanceRe announced a public offer to sell 11 million 5.375% Series E preference shares of $275 million. XenoPort Candidate Disappoints - Analyst Blog XenoPort recently reported disappointing results on arbaclofen placarbil (AP) from a pivotal late-stage study. Softbank Softens Sprint Deal Terms - Analyst Blog SoftBank Corp. has finally loosened up its proposed terms with Sprint Nextel providing the latter a scope to consider DISH Network's bid. URS Stays Neutral - Analyst Blog On May 20, 2013, we retained URS Corporation at Neutral, following its first-quarter 2013 results. |