Wednesday, April 3, 2013

4.3.13 - Business and Markets

4.3.13 - Business and Markets



World shares barely move as investors await central bank decisions
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(Blank Headline Received)By Richard Hubbard LONDON (Reuters) - World shares, the euro and German bonds barely moved on Wednesday as investors turned cautious before this week's policy decisions by the Bank of Japan and European Central Bank, followed by U.S. jobs data. However, U.S. stock futures pointed to a firmer open on Wall Street where both the Standard & Poor's 500 Index and the Dow posted record closing highs on Tuesday, while rising oil stockpiles sent crude prices lower. ...

Wall Street opens flat ahead of data
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(Blank Headline Received)NEW YORK (Reuters) - U.S. stocks opened little changed on Wednesday as investors brushed off weak data on private sector employment and awaited a report on the U.S. services sector. The Dow Jones industrial average rose 16.28 points or 0.11 percent, to 14,678.29, the S&P 500 ained 0.89 points or 0.06 percent, to 1,571.14 and the Nasdaq Composite added 3.5 points or 0.11 percent, to 3,258.36. The S&P 500 remained within striking distance of its record intraday high of 1,576.09 set October 11, 2007. (Reporting by Rodrigo Campos; Editing by Bernadette Baum)

Stocks are held back by weak payroll report
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FILE - In this , March 25, 2013, file photo, Specialist Geoffrey Friedman works on the floor of the New York Stock Exchange Monday. Wall Street was poised for a steady opening Wednesday April 3, 2013. How U.S. shares actually perform could well hinge on the monthly private payrolls report from ADP. Another increase of about 200,000 is anticipated. (AP Photo/Richard Drew)NEW YORK (AP) — Stocks are edging lower shortly after the opening bell on Wall Street following weak surveys on hiring and service businesses.

Wall Street dips, but S&P still near record high
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Specialist trader Michael O'Connor gives a price to traders on the floor at the New York Stock ExchangeBy Ryan Vlastelica NEW YORK (Reuters) - Stocks fell on Wednesday following a pair of weak data points, though the S&P 500 remained within striking distance of an all-time intraday high. Investors expect market movements to be slight ahead of the release Friday of the closely watched nonfarm payrolls report, with few major trading catalysts before then. The S&P has gained about 0.1 percent so far this week. ...

Ex-Goldman trader Taylor turns himself in to authorities -sources
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By Lauren Tara LaCapra and Emily Flitter NEW YORK (Reuters) - Ex-Goldman Sachs Group Inc trader Matthew Marshall Taylor has turned himself in to federal authorities in connection with charges that he defrauded the Wall Street bank out of $118 million in 2007, two sources familiar with the matter said. Taylor surrendered to agents with the Federal Bureau of Investigation in New York around 8:30 a.m. EDT (1230 GMT) on Wednesday morning, said the sources, who spoke on condition of anonymity. ...
Stocks fall after weak reports on hiring, services
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FILE - In this , March 25, 2013, file photo, Specialist Geoffrey Friedman works on the floor of the New York Stock Exchange Monday. Stocks fell in early trading on Wall Street Wednesday, April 3, 3013, after reports on hiring and growth at service companies dampened optimism about the outlook for the U.S. economy. (AP Photo/Richard Drew)NEW YORK (AP) — Stocks fell in early trading on Wall Street Wednesday after weak reports on hiring and growth at service companies dampened the outlook for the U.S. economy.

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Stocks Pull Back
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Stocks looked set to undo gains from Tuesday's record-setting rally on the heels of disappointing economic data.
   
Cyprus, IMF Reach Bailout Agreement
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Cyprus and the International Monetary Fund reached an agreement for a €1 billion ($1.28 billion) lifeline that will supplement €9 billion in aid the island will get from its euro-zone partners.
Spanish Princess Named Suspect in Case
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A judge named the youngest daughter of Spanish King Juan Carlos as a suspect in a criminal case relating to her husband's alleged influence-peddling and tax evasion.
Ex-Goldman Trader Pleads Guilty in Fraud Probe
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A former Goldman Sachs trader pleaded guilty to one count of wire fraud after he was accused last year by securities regulators of concealing a $8.3 billion futures position.
    
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Cyprus, IMF Reach Deal
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Cyprus and the International Monetary Fund reached an agreement for a €1 billion ($1.28 billion) lifeline on top of the €9 billion bailout the island will get from its euro-zone peers. Charles Forelle reports.
Russian Ruble Weakens amid Rate-Cut Fears
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The Russian ruble slipped to its lowest levels against the U.S. dollar since November Wednesday amid growing fears that the central bank will give in to growing political pressure to ease monetary policy as an economic slowdown deepens.
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J.P. Morgan Scores a Victory in Mortgage Suit
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A federal judge dismissed a significant portion of Dexia's fraud lawsuit against J.P. Morgan Chase, giving the U.S. bank a victory as it tries to fend off legal headaches tied to mortgage securities that soured during the financial crisis.
   
In 2003, there was only one pitcher who threw at least 25 pitches 100 mph or fas...
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In 2003, there was only one pitcher who threw at least 25 pitches 100 mph or faster. In 2012, there were seven. Pitchers are throwing faster than ever before. Here’s why: http://on.wsj.com/14BH2Us

Polls show 50% or more of Americans believe gay marriage should be legal. Here’s...
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Polls show 50% or more of Americans believe gay marriage should be legal. Here’s a look at 20 years of the same-sex marriage battle: http://on.wsj.com/XhjEt2

Did you see this image all over your Facebook feed this week? 120% more people t...
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Did you see this image all over your Facebook feed this week? 120% more people than usual updated their profile pic on Tuesday, Facebook found, attributing the surge to the gay-marriage campaign gone viral: http://on.wsj.com/ZsTOMR

An I.R.S. Reversal Rescues a Pension Fund
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Former employees of a defunct hospital whose pension was nearly empty will get federal insurance for the plan.

JPMorgan wins dismissal of most Dexia mortgage claims
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(Reuters) - JPMorgan Chase & Co has won the dismissal of nearly all of a lawsuit accusing it of misleading the Belgian-French bank Dexia SA into buying more than $1.6 billion of troubled mortgage debt.
  
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Cyprus faces "very unfavorable" outlook in near term: Sarris
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NICOSIA (Reuters) - Cyprus should brace itself for an extended period of difficulty in the near term after sealing a bailout deal forcing it to forgo much of its banking sector, its former finance minister said.
  
Analysis: Supply crunch to take steam out of home sales
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WASHINGTON (Reuters) - A shortage of properties could take some edge off home sales during the spring selling season, but the housing market recovery should remain intact.
  
Obamacare credits could trigger surprise tax bills - Helena Independent Record
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Obamacare credits could trigger surprise tax bills
Helena Independent Record
Millions of people who accept government subsidies to help buy health insurance next year could get stung by surprise tax bills later on. That's if they don't accurately project their income. Starting next year, President Barack Obama's health care law will offer ...

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SEC Embraces Social Media - Wall Street Journal
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New York
 Times

SEC Embraces Social Media 
Wall Street Journal 
Executives with itchy Twitter fingers can rest easier after federal securities regulators blessed the use of social-media sites to broadcast market-moving corporate news. The
 Securities and Exchange Commission cleared Netflix CEO Reed Hastings of any ...
SEC approves use of social media by companiesMarketWatch
SEC clears use of social media for company announcementsBBC News
SEC Approves Social Media Use for Companies' Material DisclosureBloomberg
Washington Post-
 
Los Angeles Times -Forbes
all 82 
news articles »
SEC Clears Social Media for Corporate Releases - New York Times
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New York Times

SEC Clears Social Media for Corporate Releases
New York Times
Companies can use communications outlets like Facebook and Twitter for important announcements, so long as they alert investors to which outlets will be used, the Securities and Exchange Commission said on Tuesday. The decision by the S.E.C. follows ...
SEC Backs Social Media for Disclosing Corporate InformationWall Street Journal
Twitter, Facebook OK to use for news - SECCNNMoney
SEC says corporate information can be spread on Twitter, FacebookLos Angeles Times
Mashable -Detroit Free Press -Bloomberg
all 41 news articles »
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Tuesday movers: Apple closes off of intraday high - MarketWatch
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Newsday

Tuesday movers: Apple closes off of intraday high
MarketWatch
SAN FRANCISCO (MarketWatch) — Apple Inc. came off of its intraday high of $438.14 to close marginally higher on Tuesday as analysts continued to talk down the stock. Top Tickers Trending. $AAPL: Apple (NASDAQ:AAPL) initially shrugged off a decision ...
Goldman Takes Apple Stock off 'Preferred' ListABC News
Mixed signals on Apple Inc. from Goldman SachsFortune (blog)
Apple Removed From Goldman Sachs' Conviction Buy ListMotley Fool
BGR -Barron's (blog) -TheStreet.com
all 78 news articles »
Investors still bullish on stocks - CNN
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Malta Independent Online

Investors still bullish on stocks
CNN
U.S. stocks have soared to record highs, and individual investors are bullish, according to a new Fidelity survey. NEW YORK (CNNMoney). U.S. stocks have been on a tear in 2013 and individual investors are still bullish, according to a new survey released ...
Financial crisis upside: We manage money betterMarketWatch
5 years after financial crisis, survey highlights gains in savings and investing ...The Republic

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Fed officials are somewhat more upbeat on economic growth - Reuters
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Moneycontrol.com

Fed officials are somewhat more upbeat on economic growth
Reuters 
RICHMOND, Virginia | Tue Apr 2, 2013 9:50pm EDT. RICHMOND, Virginia (Reuters) - Two Federal Reserve officials voiced cautious optimism on Tuesday that the economy was on a lasting upswing, but they offered differing views on what that outlook ought ...

Fed's Lacker, Evans Square Off in Debate Over Mon Pol RisksMNI News 
Evans and Lacker – Hawk vs. Dove: Fed Officials Face OffForexLive (blog)

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US home prices rose in February by most in 7 years - The Associated Press
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US home prices rose in February by most in 7 years
The Associated Press
WASHINGTON (AP) — U.S. home prices jumped in February by the largest amount in seven years, evidence that the housing recovery strengthened ahead of the all-important spring-buying season. Home prices rose 10.2 percent in February compared with a ...

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March US auto sales may be highest since 2007 - Businessweek
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March US auto sales may be highest since 2007
Businessweek 
DETROIT (AP) — U.S. car and truck sales are expected to hit their highest level in nearly six years in March, as buyers armed with tax refund checks were lured by flashy new vehicles and low interest rates. Auto companies release U.S. sales figures Tuesday.
Is It Time to Hit the Brakes on Toyota?Motley Fool
Confidence drives auto salesHouston Chronicle
Sales: Accord and Fusion are Up – Camry and Altima are DownTFLcar.com

Washington PostNBCNews.com-al.com 
all 65 news articles »

Automobile Magazine
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US home prices rose in February by most in 7 years - News 12 Hudson Valley
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US home prices rose in February by most in 7 years
News 12 Hudson Valley
(AP) -- U.S. home prices jumped in February by the largest amount in seven years, evidence that the housing recovery strengthened ahead of the all-important spring-buying season. Home prices rose 10.2 percent in February compared with a year earlier, the ...

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Home prices up in February by most in 7 years - USA TODAY
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Home prices up in February by most in 7 years
USA TODAY
WASHINGTON (AP) — U.S. home prices jumped in February by the largest amount in seven years, evidence that the housing recovery strengthened ahead of the all-important spring-buying season.
Home prices rose 10.2% in February compared with a year ...
Area home prices increased nearly 5 percent in last yearBusiness Record
Home prices continue to rise in LincolnLincoln Journal Star
Norwich/NL February home prices dropped amid national surgeNorwich Bulletin
TheStreet.com-Forbes-The Star-Ledger - NJ.com
all 26 
news articles »

Vancouver Sun
Ex-Goldman trader Taylor pleads guilty to wire fraud - Reuters
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Ex-Goldman trader Taylor pleads guilty to wire fraud
Reuters
By Lauren Tara LaCapra and Nate Raymond. NEW YORK | Wed Apr 3, 2013 2:13pm EDT. NEW YORK (Reuters) - Ex-Goldman Sachs Group Inc trader Matthew M. Taylor pleaded guilty on Wednesday to defrauding the Wall Street bank with an unauthorized ...
Ex-Goldman
trader surrenders to FBIFinancial Times 
Former Goldman Sachs trader pleads guilty to wire fraudBBC News
Ex-Goldman Trader Pleads Guilty to Fraud
 Wall Street Journal
 
New York Times-Telegraph.co.uk
 -Bloomberg

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Bloomberg
Facebook’s fight to keep its start-up edge
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The more the company swells, the greater the risk of becoming a bureaucracy and suffering from the curse of success, writes Gillian Tett
Financial reform is coming to America
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Many critics hoped that a Republican president would rescue them. But it is no longer in their interest to delay, writes Barney Frank
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Business, labor close on deal for immigration bill
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WASHINGTON (AP) -- Big business and major labor unions appeared ready Friday to end a fight over a new low-skilled worker program that had threatened to upend negotiations on a sweeping immigration bill in the Senate providing a pathway to citizenship for 11 million illegal immigrants already in the U.S....

Monday, April 1, 2013

Mike Nova: NYTimes Review - 3:34 PM 4/1/2013

Mike Nova: NYTimes Review - 3:34 PM 4/1/2013: NYTimes Review - 3:34 PM 4/1/2013 NYT > Global Opinion MON APRIL 1 ST , 2013 BY THE EDITORIAL BOARD social security (u...