http://fundscons.com News and Opinions Wed, 27 Aug 2008 13:10:26 +0000 http://backend.userland.com/rss092 en European Central Bank council member Axel Weber said there's no scope for interest-rate cuts and policy makers may need to raise borrowing costs once the economy emerges from its slump. ``Monetary policy at the moment is roughly where it should be and I think the discussion about ... http://fundscons.com/weber-says-higher-rates-may-be-needed-after-recovery/ The European Central Bank will announce changes to the rules governing its money-market auctions in coming weeks to head off the risk of abuse by financial institutions, council member Yves Mersch said. ``At the margins there can still be cases where you see dangers of gaming the ... http://fundscons.com/mersch-says-ecb-to-change-collateral-rules-soon/ The cost to protect Asia-Pacific corporate and government bonds from default rose to the highest in five weeks, credit-default swaps show. The Markit iTraxx Australia Index advanced 8 basis points to 156 at 9:40 a.m. in Sydney, Citigroup Inc. prices show. Contracts on Japan's benchmark measure of ... http://fundscons.com/asia-pacific-default-risk-rises-to-five-week-high-swaps-show/ Following is the Bank of Japan's statement on monetary policy, released in Tokyo today following a two-day meeting of its policy board. The central bank left the overnight lending rate at 0.5 percent. 1. At the Monetary Policy Meeting held today, the Bank of Japan decided, by ... http://fundscons.com/bank-of-japan-august-statement-on-monetary-policy-text/ TJX Cos. says second-quarter profit more than tripled from a year ago as the apparel discount retailer benefits from shoppers looking for cheaper alternatives. The retailer has also raised its earnings outlook.The retailer said Tuesday that it earned $200.2 million, or 45 cents per share, compared with $59 ... http://fundscons.com/tjxs-profits-triple/ Japan should cut the nation's corporate tax by a quarter to encourage investment and growth in the world's second-largest economy, said Shoichi Nakagawa, former policy chief for the ruling Liberal Democratic Party. ``Even if tax revenue falls in the near term, a tax cut may help revitalize ... http://fundscons.com/ldps-nakagawa-says-japan-should-cut-corporate-tax/ Indonesia's central bank may increase interest rates to as much as 9.5 percent and prevent the rupiah from depreciating too fast to slow inflation, Deputy Governor Hartadi Sarwono said. A benchmark rate that's 2 percentage points above Bank Indonesia's 2009 inflation target is ``adequate'' to keep price ... http://fundscons.com/indonesia-says-rate-at-95-adequate-for-inflation/ Hovnanian Enterprises Inc., New Jersey's largest homebuilder, cut the number of unsold houses by more than 50 percent over the past two years after lowering prices and still had 1,500 on its books as of April. ``We pretty much start a home these days when we have ... http://fundscons.com/highest-home-supply-since-82-seen-needing-50-cut/ Venezuelan President Hugo Chavez is set to tighten his government's grip on the economy by taking over his first bank, the local unit of Spain's Banco Santander SA. Plans to nationalize the country's third-largest bank, announced yesterday, will give the state access to Banco de Venezuela SA ... http://fundscons.com/chavez-tightens-hold-on-venezuela-with-bank-takeover/ Venezuelan President Hugo Chavez is set to tighten his government's grip on the economy by taking over his first bank, the local unit of Spain's Banco Santander SA. Plans to nationalize the country's third-largest bank, announced yesterday, will give the state access to Banco de Venezuela SA ... http://fundscons.com/chavez-tightens-hold-on-venezuela-economy-with-nationalization/