Best financial sourse

September 29, 2014

New Zealand dollar sinks after central bank sells

Filed under: Uncategorized, business — Tags: , , , — Snowman @ 5:16 am

WELLINGTON, New Zealand (AP) — The New Zealand dollar sank Monday after the central bank disclosed it conducted its biggest sell-off of the currency in seven years to lower an exchange rate that is squeezing exporters.

Data released by the Reserve Bank showed it sold 521 million New Zealand dollars ($410 million) during August. That came after the central bank governor, Graeme Wheeler, said the currency was too strong.

The disclosure pushed the currency known as the Kiwi down nearly 2 percent against the U.S. dollar to its lowest level in over a year before it recovered slightly to trade at $0.78. The currency has dropped 12 percent since July, when the central bank announced it was suspending its program of interest rate hikes.

The bank had earlier been the first among developed nations this year to begin hiking interest rates. It raised the benchmark rate four times to 3.5 percent as it tried to cool the economy, which had been growing at a relatively fast clip of 4 percent.

Even as rates were rising, farmers who play a key role in the economy were facing tougher times personal loans for people with bad credit. Wholesale dairy prices have fallen by more than 40 percent since February, prompting dairy giant Fonterra to last week announce a big cut in projected payouts to farmers over coming months.

Those farmers will be hoping for a boost from the central bank’s actions as a weaker dollar makes New Zealand exports more attractive abroad.

Wheeler has repeatedly said he believes the Kiwi is too high. He went further last week by releasing a statement saying conditions would justify intervention.

“The exchange rate has yet to adjust materially to the lower commodity prices,” he said. “Its current level remains unjustified and unsustainable. We expect a further significant depreciation, which should be reinforced as monetary policy in the U.S. begins to normalize.”

Source

Get Fast Cash Loans upto $1500 in 1 Hr. Bad Credit Ok.Apply.

September 22, 2014

Dudley Plays Down Significance of Fed

Filed under: business, canada — Tags: , , , — Snowman @ 4:12 pm

A top Federal Reserve official counseled investors against putting too much emphasis on the central bank

September 16, 2014

Stocks open lower ahead of Fed meeting

Filed under: business, money — Tags: , , , — Snowman @ 5:44 am

NEW YORK • U.S. stocks dropped in early trading Monday ahead of this week’s potential pivotal Federal Reserve meeting. The Fed is nearing the end of its bond-buying stimulus program, and investors will be looking for indications of when policy makers will start raising interest rates.

In Europe, investors looked ahead to Scotland’s independence referendum.

KEEPING SCORE: The Standard & Poor’s 500 index fell five points, or 0.3 percent, to 1,980 as of 9:53 a.m. Eastern. The Dow Jones industrial average dropped 16 points, or 0.1 percent, to 16,969. The Nasdaq composite fell 16 points, or 0.7 percent, to 4,534.

FED MEETING: The main market event this week is likely to be the Fed’s two-day policy meeting, which concludes on Wednesday. Investors will be watching for any change in their guidance about the future direction for interest rates. Analysts have warned over the past week that the Fed might raise interest rates sooner than expected as the economy improves.

M&A ON TAP: Molson Coors rose $4.75, or 6.6 percent, to $73.87. The brewer’s stock jumped amid merger news in the beer brewing industry. Family-controlled brewer Heineken said late Sunday that it has rejected a takeover bid by rival SABMiller, the world’s second-largest brewer. Reports said that SABMiller had sought to buy Heineken as a defense against an acquisition bid from Anheuser-Busch InBev, the industry leader absolutely free credit score.

SCOTLAND’S CHOICE: Another big event this week is Thursday’s independence referendum in Scotland. With opinion polls showing the vote too close to call, there’s potential for some sizeable move in U.K. markets. The pound has been extremely volatile in the last couple of weeks as the opinion polls have narrowed. On Monday the pound was 0.2 percent lower at $1.6248.

EUROPEAN STOCKS: In Europe, Germany’s DAX was up 0.1 percent at 9,663, while France’s CAC-40 declined 0.3 percent to 4,430. Britain’s FTSE 100 shed 0.1 percent to 6,801.

CURRENCIES: The dollar gained against the euro, but fell back against the Japanese yen. Against Europe’s common currency, the dollar gained 0.2 percent to $1.29 per euro. It fell 0.2 percent to 107.2 against the yen.

BONDS: In government bond trading, prices rose. The yield on the 10-year Treasury note, which falls when prices rise, dropped to 2.58 percent from 2.61 percent on Friday.

ENERGY: A report that showed Chinese industrial production slowed dramatically in August weighed on oil markets. Benchmark U.S. oil fell 28 cents, or 0.3 percent, a barrel at $92 per barrel. Brent crude, used to price international oils, declined 54 cents to $96.59 a barrel.

Source

September 8, 2014

Schumer Anti-Inversion Tax Plan Could Reach Back to 1994 - Bloomberg

Filed under: business, canada — Tags: , , , — Snowman @ 12:36 am

A proposal from a top Senate Democrat could limit deductions for companies that moved their tax addresses out of the U.S. as long ago as 1994, according to a draft obtained by Bloomberg News.

The legislative proposal, which faces high hurdles in a deadlocked Congress, may become part of Democrats

August 14, 2014

Sagging European economies crimp stock markets

Filed under: business, economics — Tags: , , , — Snowman @ 5:48 pm

HONG KONG (AP) — A contraction in Germany’s economy and stagnation in France dragged on European stocks Thursday while Asian markets ended mixed.

KEEPING SCORE: France’s CAC 40 lost 0.4 percent to 4,176.03 and Germany’s DAX shed 0.4 percent to 9,164.92. Britain’s FTSE 100 edged up 0.1 percent to 6,661.95. U.S. shares were set to drift lower, with Dow futures slipping 0.1 percent to 16,606. S&P 500 futures dipped 0.1 percent to 1,943.60.

ASIA’S DAY: Japan’s benchmark Nikkei 225 rose 0.7 percent to close at 15,314.57 and Australia’s S&P/ASX 200 ended 0.6 percent higher at 5,548.50. South Korea’s Kospi was practically unchanged at 2,063.22. But Hong Kong’s Hang Seng lost 0.4 percent to 24,801.36, after swinging between gains and losses for most of the day. The Shanghai Composite in mainland China followed the same pattern, down 0.7 percent to 2,206.47.

EUROPE SAGS: The latest growth figures from two major economies cast doubt over Europe’s recovery. The Germany economy lost momentum, shrinking by 0.2 percent in the April-June period, while the French economy stagnated for second straight quarter, official reports showed.

CHINA ECONOMY: Benchmarks in Hong Kong and Shanghai declined a day after disappointing data on the Chinese economy left investors fretting that authorities in Beijing were comfortable with slowing growth and would refrain from further stimulus. Fixed investment and industrial production for July slowed, though the big surprise was the sharp drop in loan growth, which Rabobank analyst Michael Every called “shockingly low bad credit payday advance.”

PC PROFITS: No. 1 personal computer maker Lenovo Group failed to hold on to gains after reporting quarterly profit rose 23 percent on stronger sales of smartphones and other mobile devices, with shares down 1.6 percent. China Mobile, the world’s biggest wireless carrier by subscribers, rose 0.7 percent even as the state-owned company reported first half profit fell 8.5 percent as it continued to roll out fourth-generation phone service.

US CUES: Investors are looking ahead to more hints on the health of the global economy with the release of U.S. unemployment benefit applications later Thursday. They come a day after U.S. retail sales edged up a tiny amount compared with the month before, fueling hopes that the Fed will maintain stimulus.

ENERGY: Benchmark crude oil for September delivery was down 27 cents to $97.31 in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 60 cents to $104.46 in London.

CURRENCIES: The euro rose to $1.3380 from $1.3365 in late trading Thursday. The dollar was little changed at 102.41 yen from 102.42 yen.

Source

July 26, 2014

Nevada gambling revenue jumps 14 percent in June

Filed under: business, technology — Tags: , , , — Snowman @ 5:20 am

LAS VEGAS • Nevada officials say casino revenues shot up more than 14 percent in June thanks to a banner month on the Las Vegas Strip.

The state Gaming Control Board reported Friday that Nevada casinos brought in about $907 million in June.

Las Vegas Strip casinos pulled in $532 million in June, up more than 22 percent from the same month a year ago. Downtown Las Vegas casino revenues of $41million were up 12 percent.

Reno casino revenues of $48 million were down 3 percent compared with June 2013, while South Lake Tahoe casinos brought in $12 million and were down 2 percent payday loans.

The state collected $44 million in taxes based on the June winnings, which is up less that 1 percent compared with a year earlier.

Source

July 21, 2014

Former Sino Forest CFO barred from serving as director of public company

Filed under: business, mortgage — Tags: , , , — Snowman @ 11:08 am

The Ontario Securities Commission has permanently banned the former chief financial officer of Sino Forest Corp. from serving as a director or officer of a public company.

David Horsley, who served as CFO from 2005 until 2012, has also agreed to pay a $700,000 fine and testify in the ongoing Sino Forest case.

Sino Forest once had a high-flying stock that traded on the Toronto Stock Exchange with a market capitalization of more than $6 billion, until in 2011 short seller Muddy Waters suggested the forestry company’s sales were a fraud.

The company, which was listed in Canada, had all its operations in China, selling standing timber.

“This is a significant settlement and a significant admission by Mr. Horsley,” said OSC lawyer Hugh Craig at a hearing on Monday.

“This should serve as a message to CFOs operating in unfamiliar business environments” of the need to be vigilant, Craig added.

“He simply didn’t do his job,” he said. “Operations may be over there, but they are regulated under the Ontario Securities Act.”

Panel vice-chair James Turner said chief financial officers play a critical role in the financial reporting of companies.

Horsley failed in his role as CFO, and failed investors and capital markets, Turner said.

In approving the deal, Turner said it was contingent on the settlement of a separate class action lawsuit involving both securities and bond holders.

Judges in Ontario and New York state are scheduled to hear that settlement proposal that Horsley has offered to pay $5.6 million.

Horsley’s lawyer Peter Wardle noted that OSC investigators concluded that his client is not accused of perpetrating any alleged frauds involving Sino Forest.

“These sins, if I can put it that way, are sins of omission as opposed to sins of commission,” Wardle added.

Source

July 13, 2014

Israel widens air assault, UN calls for ceasefire as Gaza death toll tops 125

Filed under: business, online — Tags: , , , — Snowman @ 5:52 am

GAZA, PALESTINE—Israel widened its air assault against the Gaza Strip’s Hamas rulers on Saturday, hitting a mosque it said was hiding rockets, as Palestinians said their death toll from the five-day offensive rose to over 125.

The military said it has struck more than 1,100 targets, including Hamas rocket launchers, command centres and weapon manufacturing and storage facilities, in a bid to stop relentless rocket fire coming Gaza. Officials in the territory said that besides the mosque, the strikes also hit Hamas-affiliated charities and banks, as well as a home for the disabled, killing two women.

The central Gaza mosque was being used to conceal rockets like those militants have fired nearly 700 times toward Israel over the past five days, the military said. However, the strikes in the densely populated Gaza Strip show the challenge Israel faces as it considers a ground operation that could potentially pose further dangers to civilians.

While there have been no fatalities in Israel from the continued rocket fire, Gaza Health Ministry spokesman Ashraf al-Kidra said overnight Israeli strikes raised the death toll there to over 125, with more than 920 wounded.

Hamas militants have been hit hard. Though the exact breakdown of casualties remains unclear, dozens of the dead also have been civilians.

The UN Security Council called for a ceasefire on Saturday, and a resumption of direct negotiations between Israel and the Palestinians aimed at achieving a comprehensive peace agreement based on a two-state solution.

The press statement, which is not legally binding, expresses “serious concern regarding the crisis related to Gaza and the protection and welfare of civilians on both sides.” It is the first response by the UN’s most powerful body, which has been deeply divided on the Israeli-Palestinian conflict.

MORE ON THESTAR.COM:

Israel’s ‘Iron Dome’ anti-rocket system changing face of battle

Israelis turn to smartphones to track incoming rocket attacks

Rising anger in Israel, Palestine fuel fears of Third Intifada

In Ottawa, Foreign Affairs Minister John Baird says the UN High Commissioner’s criticism of Israel’s response to rocket attacks from Gaza are uncalled for.

Navi Pillay said this week that there should be an immediate ceasefire, citing reports of many civilian casualties.

In a statement issued Saturday, Baird accused Pillay of focusing her comments on Israel and said that is neither “helpful nor reflective of the reality of this crisis.”

Baird says there can’t be any “moral equivalence” between a democratic state like Israel and Hamas, which he calls a listed terrorist organization with a blatant disregard for human life.

Prime Minister Stephen Harper has been a fervent supporter of Israel and a long-time critic of the United Nations and its officials.

Meanwhile in Gaza, the offensive showed no signs of slowing down Saturday as Israeli Defence Minister Moshe Yaalon said his country should ready itself for several more days of fighting.

“We have accumulated achievements as far as the price Hamas is paying and we are continuing to destroy significant targets of it and other terror organizations,” Yaalon said after a meeting with top security officials. “We will continue to punish it until quiet and security returns to southern Israel and the rest of the country.”

Hamas said it hoped the mosque attack would galvanize support for it in the Muslim world.

“(It) shows how barbaric this enemy is and how much it is hostile to Islam,” said Husam Badran, a Hamas spokesman in Doha, Qatar. “This terrorism gives us the right to broaden our response to deter this occupier.”

The Israeli military released an aerial photo of the mosque it hit, saying Hamas hid rockets in it right next to another religious site and civilian homes. It said Hamas, Islamic Jihad and other Gaza militant groups use this tactic of abusing religious sites to conceal weapons and establish underground tunnel networks, deliberately endangering civilians.

“Hamas terrorists systematically exploit and choose to put Palestinians in Gaza in harm’s way and continue to locate their positions among civilian areas and mosques, proving once more their disregard for human life and holy sites,” said Lt. Col. Peter Lerner, an Israeli military spokesman payday loans for bad credit.

Critics though say such allegations are too sweeping, and that Israel’s heavy bombardment of one of the densely populated territories is itself the main factor putting civilians at risk.

Sarit Michaeli of the Israeli human rights group B’Tselem said that while using human shields violates international humanitarian law, “this does not give Israel the excuse to violate international humanitarian law as well.”

Israel issues early warnings before attacking Gaza targets and the military says it uses other means to do its utmost to avoid harming bystanders. But Michaeli said civilians have been killed when Israel bombed family homes of Hamas militants or when residents were unable to leave their homes quickly enough following the Israeli warnings.

“Justifying all Israeli attacks that lead to civilian casualties by saying Hamas is using human shields is factually incorrect,” she said.

The rocket fire from Gaza militants appeared to tail off somewhat Saturday, with a new round resuming later in the day. The “Iron Dome,” a U.S.-funded, Israel-developed rocket defence system, has intercepted more than 130 incoming rockets, preventing any Israeli fatalities so far. A handful of Israelis have been wounded by rockets that slipped through.

The most seriously wounded Israeli resulted from a rocket that struck a gas station Friday in the southern city of Ashdod, setting off a huge explosion. A house in Beersheba suffered a direct hit though the family living there was not home.

As a precaution, the U.S. Embassy in Tel Aviv relocated its personnel assigned to Beersheba. However, militant rockets have reached further into Israel than ever before, with air raid sirens sounding even in the northern city of Haifa, 100 miles (160 kilometres) away.

The frequent rocket fire has disrupted daily life in Israel, particularly in southern communities that have absorbed the brunt of it. Israelis mostly have stayed close to home. Television channels air non-stop coverage of the violence and radio broadcasts are interrupted live with every air raid siren warning of incoming rockets.

The frequent airstrikes have turned the normally frenetic Gaza City into a virtual ghost town, emptying streets, closing shops and keeping hundreds of thousands of people close to home where they feel safest from the bombs.

The offensive is the heaviest fighting since a similar eight-day campaign in November 2012 to stop Gaza rocket fire. The outbreak of violence follows the kidnappings and killings of three Israeli teenagers in the West Bank, and the kidnapping and killing of a Palestinian teenager in an apparent revenge attack.

Israel has pummeled Gaza at twice the rate of the 2012 operation and Israeli Prime Minister Benjamin Netanyahu has vowed to press on with the campaign until there is a complete halt to rocket attacks from the seaside Palestinian territory. Israel has massed thousands of troops along the border in preparation for a possible ground invasion, with soldiers atop vehicles mobilized and ready to move into Gaza if the order arrives.

A senior military official said Saturday that Israel estimated Hamas still had thousands of rockets in its arsenal and it would take Israel more time to eliminate the threat to its civilians.

“There is no knockout. It is more complicated,” he said, speaking on condition of anonymity because of military guidelines.

Israel has begun coming under international pressure as Palestinian casualties have grown. The United States and European leaders have stressed Israel’s right to defend itself, but the United Nations says it is concerned over civilian deaths in Gaza, and anti-Israel protests have taken place in Europe. In the West Bank, Hamas supporters clashed with Israeli troops over the Gaza offensive.

The Arab League said foreign ministers from member states will hold an emergency meeting in Cairo on Monday evening to discuss the continued Israeli offensive and measures to urge the international community to pressure Israel.

Egypt, which historically has served as a mediator between Israel and Hamas, appears less eager to help out this time. Hamas was particularly close to the Muslim Brotherhood, who the current leadership banned after driving it from power last year.

Source

July 10, 2014

Hong Kong Buyers Queue for New Homes After Prices Plunge - Bloomberg

Filed under: business, online — Tags: , , , — Snowman @ 1:16 am

On a Saturday morning in mid-June, thousands wait, crammed into Hong Kong

July 3, 2014

European Bankers to Meet ECB on Asset Check Update From July 8 - Bloomberg

Filed under: business, marketing — Tags: , , , — Snowman @ 1:33 pm

Officials from 128 of Europe

Newer Posts »

Powered by WordPress