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Euro Weakness Looking To Hold
by admin
21 May 2012 at 12:33pm
On the Forex markets this morning the Euro around was struggling to regain a foothold beyond the $1.27 area against the Dollar. Staying virtually unchanged from its level on Friday, the dollar at 1.2692 euro (+ 0,08%). A low of 1.2642 dollars was hit this morning, against a peak at 1.2708. No significant movements to report against the ye Read more ...
Euro Down Slightly After Weekend On Spain Worry
by admin
1 May 2012 at 4:41am
Yesterday the euro was down slightly compared to the U.S. dollar, 1.321 to 1.325 dollars compared to last Friday, particularly affected by the disturbing news growing on Spain. The Spanish economy has again contracted by 0.3% in real terms in the first quarter 2012 compared to the last of 2011, according to the National Statistics Institu Read more ...
Euro Stability Still A Concern On Forex Markets
by admin
24 Apr 2012 at 8:13am
Parity between the euro / dollar is now almost perfectly balanced on the currency market: at around 13:00 hours, the euro was trading at 1.3156 (- 0.01%). Slightly increased towards the yen to 106.9. Nothing to report in the forex market on the state of the euro / Swiss franc, which is stable at 1.2021. ‘We expect fu Read more ...
Euro Mixed Against All Other Majors
by admin
18 Apr 2012 at 7:53am
The single currency was losing again today, dropping below $1.31 (EUR/USD) on Wednesday afternoon, amid persistent doubts about the sovereign status of Europe. At this time, the euro yield is 0.42% against the greenback at 1.3073 dollars per euro. The IMF reviewed yesterday, downgrading its growth forecast for Spain in 2012, which shows a Read more ...
Fed Keeps Rates Low ? Euro Seems Without Trend
by admin
14 Mar 2012 at 6:40am
The single European currency remained without a major trend against the U.S. dollar in the wake of a highly anticipated meeting of the Monetary Policy Committee of the Fed, whose tone lately has been quite positive for the Dollar. The Euro dropped yesterday afternoon from 0.04% to 0 Read more ...
Bernanke comments causes sell off
by Tom
1 Mar 2012 at 4:55am
Market sentiment received a bit of a boost yesterday when the results of the ECB?s long-awaited second long-term liquidity operation (LTRO) showed strong demand for the cash from European banks. The ECB lent 800 banks ?529.5 billion, somewhat above the ?450 billion that the market had been anticipating and the ?489 billion lent to 523 fi Read more ...
Euro firm however downside risks remain
by Tom
28 Feb 2012 at 8:36am
Today the euro remains firm versus the dollar and sterling, trading in relatively tight ranges despite the announcement from ratings agency Standard & Poor?s that it is cutting Greece?s long term credit trading to selective default. Such a move was already expected and indeed factored in, though yesterday?s comments from EU Commission Read more ...
Euro upside following Greek deal
by Tom
22 Feb 2012 at 9:34am
Having retreated from near two-week highs as optimism over the long-awaited Greek bailout deal faded to be replaced by underlying concerns over growth and implementation risks, the euro has traded in a relatively tight range versus the dollar over the past 24 hours. Parliaments in three countries (Germany, the Netherlands and Finland) must now a Read more ...
Euro upside following Greek Deal
by Tom
21 Feb 2012 at 9:20am
The euro gained some ground in early morning trade briefly breaking through key resistance after eurozone finance ministers finally sealed the details of a second ?130 billion bailout package for Greece. There was also agreement on the details of Greek?s deal with private sector investors, who are now expected to take a haircut in excess of Read more ...
Euro sold as Greek Deal lingers
by Tom
16 Feb 2012 at 4:35am
The euro started yesterday with a firmer tone on the news that China would continue investing in euro debt and pledges from the Greek opposition Conservative Party to commit to tough austerity measures. This was before the latest twist in the on-going Greek debt saga saw renewed pressure on the single currency, which has fallen back to trade at Read more ...

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Florida sets aside $33.4M of mortgage settlement for budget
23 May 2012 at 6:36am
Florida plans to take set aside $33.4 million of the $334 million in payments from a multibillion-dollar mortgage settlement with major banks and put it to use in the state?s budget. The Bradenton Herald, citing a story from ProPublica, reports that Attorney General Pam Bondi?s office confirmed that 10 percent of the funds were earmarked for the budget ?as a penalty? and goes to ?general revenue.? But Florida?s not alone. Many of the other states receiving portions of the $2.5 billion...
Starent vets put $450K into Cambridge wine distribution startup Likelii
by Kyle Alspach
23 May 2012 at 6:34am
Likelii, a Cambridge startup with a platform that aims to solve wine distribution problems, has raised a $450,000 seed round from two angel investors that are veterans of Starent Networks. The startup launched in 2011 and is led by Radhika Dutt, Eugenia Perelman and Jennifer Joyce, according to an announcement of the funding. Dutt, the company's CEO, previously co-founded Lobby7 (acquired by Scansoft/Nuance), formerly worked at Starent and Avid, and holds bachelor's and master?s degrees from MIT. Likelii...
New prepaid card rules; How Google shields its own privacy
by Mark Reilly
23 May 2012 at 6:19am
Business news from around the Web: ? Apple leads world's most valuable brands (Portfolio) ? SpaceX cargo rocket blasts off (Cnet) ? Sushi restaurants face yellowfin salmonella outbreak (The Atlantic) ? Indiana's plan to steal tech jobs from coasts (The Atlantic) ? J.P. Morgan lobbying backfires (Bloomberg) ? Inside the fumbled Facebook IPO (WSJ) ? New rules for prepaid credit cards (WSJ) ? How Google shields its own privacy (NYT) ? Japanese retailer Uniqlo seeks to expand...
CIB Marine to deregister stock
23 May 2012 at 6:14am
CIB Marine Bancshares Inc., the holding company that owns Marine Bank, said it will voluntarily deregister its stock, which is traded over-the-counter.
'Netflix for art' startup TurningArt raises $1.5M
by Kyle Alspach
23 May 2012 at 6:00am
Boston startup TurningArt announced Wednesday it's raised a $1.5 million round to expand its service, which provides subscribers with new art for their walls on demand. Founder Jason Gracilieri said TurningArt has thousands of customers and hundreds of artists, and that both categories have been growing fast for the company. "We feel really good about the economics and the early interest and enthusiasm seen for the business," he said. "It's a great time to go out there and get a next round of financing,...
Wells Fargo to hold mortgage assistance event in Dallas
by Lance Murray
23 May 2012 at 5:59am
Wells Fargo & Co. (NYSE: WFC) will hold a free Home Preservation Workshop Thursday to offer assistance to Wells Fargo mortgage customers who might be having financial difficulties. The event will be from 9 a.m. to 7 p.m. at the Hyatt Regency Dallas, 300 Reunion Blvd. The workshop is for customers of Wells Fargo Home Mortgage, Wells Fargo Financial, and Wells Fargo Home Equity who are facing financial hardships. Wells Fargo (NYSE: WFC) said it has has invited more than 6,000 North Texas mortgage...
First Bancorp making management changes
23 May 2012 at 5:49am
First Bancorp said Tuesday that it will separate the offices of First Bancorp chief executive officer and president of First Bank, the company's principal subsidiary. Effective June 11, 2012, Richard H. Moore is being named as the company's president and chief executive officer. Jerry L. Ocheltree will continue to serve as president of First Bank. First Bancorp is a bank holding company headquartered in Troy, with total assets of approximately $3.3 billion.
Bridgeway Capital opens Erie office
23 May 2012 at 5:22am
Pittsburgh-based Bridgeway Capital has opened a new office in Erie. WSEE-TV/WICU-TV in Erie reported on the official ceremony to open Bridgeway Capital's satellite office at the Renaissance Center at 1001 State St. Bridgeway Capital, based in Pittsburgh, offers loans to small businesses and nonprofits as well as business education programs. Bridgeway Capital serves a 16-county area in western Pennsylvania. The company said on its website it could be opening other offices, probably south of Pittsburgh.
Chase suspends stock buyback as it awaits new capital rules
23 May 2012 at 5:13am
JPMorgan Chase & Co. has suspended a stock buyback as it prepares for new international rules forcing banks to hold more capital in preparation for slowdowns in the economy, the Associated Press reports. JPMorgan (NYSE:JPM) plans to continue paying its 30-cents-a-share quarterly dividend, AP reports. The decision to suspend the buyback comes about a week after the bank said it lost $2 billion on bad trades. The new international standards go into effect next year. JPMorgan CEO Jamie Dimon said...
Slideshow: Banks with largest quarterly asset growth
23 May 2012 at 4:57am
Triangle Business Journal recently looked at the success several local banks have had in growing their asset levels in the first quarter. Click below to see how the banks ranked.
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Rupee Trapped In A Vicious Spin - Wall Street Journal

23 May 2012 at 2:29am

Bloomberg UTV

Rupee Trapped In A Vicious Spin
Wall Street Journal
India's currency is trapped in a vicious cycle. The lower it falls, the harder it is to get turned around again. Wednesday was the sixth straight trading day that the rupee touched a record low against the dollar, hitting INR55.8 early in the day in ...
'RBI measures not timely; Govt inaction might cause Fx market crisis'Bloomberg UTV
Rupee sinks to new low despite RBI 'intervention'Economic Times
Rupee free-fall continues, hits new low of 56.21 Vs dollarZee News
Business Today -BBC News
all 597 news articles »

Money Market Stresses Ease Ahead of European Leaders Meeting - BusinessWeek

22 May 2012 at 8:38am

Money Market Stresses Ease Ahead of European Leaders Meeting
BusinessWeek
By Liz Capo McCormick on May 22, 2012 Money-market indicators signaled strains in short-term funding dissipated before European leaders meet tomorrow in Brussels to address the region's fiscal crisis. Three-month London interbank offered rate, ...

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Money Market Stresses Ease Ahead of European Leaders Meeting - Bloomberg

22 May 2012 at 8:36am

Money Market Stresses Ease Ahead of European Leaders Meeting
Bloomberg
Money-market indicators signaled strains in short-term funding dissipated before European leaders meet tomorrow in Brussels to address the region's fiscal crisis. Three-month London interbank offered rate, or Libor, which represents the rate at which ...

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CurrencyUK

Euro at risk for major drop
by alex
23 May 2012 at 1:35am
The Consumer price inflation(CPI) in the UK fell to 3.0% in April, down from 3.5% in the previous month. Although this was only marginally faster than the markets had anticipated (consensus 3.1%), this will come as relief to the BOE following last month?s rise in inflation.�It is also of symbolic importance that Sir Mervyn King [...]
CONSUMER PRICE INDEX
by alex
22 May 2012 at 1:58am
The Consumer Price Index �is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is [...]
Inflation Data key for GBP
by alex
22 May 2012 at 12:48am
After the weekend G8 summit, sentiment on the markets was a little more upbeat�yesterday. Markets took some comfort from news out of China that indicated it would fast�track approvals for investment in infrastructure projects to combat a slowdown in the�economy. This supports recent calls from the Chinese premier for policies to maintain�growth after a series [...]
Public Sector Net Borrowing
by admin
21 May 2012 at 8:45am
The Net Borrowing released by the National Statistics captures an amount of new debt held by the U.K. governments (the financial deficit in the UK national accounts). Generally speaking, if the Net Borrowing is negative, it means the UK Accounts are surplus, and that should be positive for the GBP. While a deficit is [...]
Euro claws back some losses
by alex
21 May 2012 at 12:43am
At the G8 summit this weekend, Greece’s political and economic upheaval, together with�the growing instability in Spain and Italy, were high on the agenda as leaders sought to�calm the situation. World leaders backed keeping Greece in the euro-zone and vowed to�take all steps necessary to combat financial turmoil while revitalising a global economy�increasingly threatened by [...]
Moody?s downgrades Spanish banks
by alex
18 May 2012 at 1:41am
The potential ?Grexit? is killing the markets as they run for safety in the last day of the week. Uncertainty is all over, and regardless of the new elections being held in June 17, investors still don?t want to risk it. Not only Greece is in trouble. 16 Spanish banks have been downgraded by Moody?s last [...]
Lower inflation expectations not good for GBP
by alex
17 May 2012 at 12:53am
The UK inflation report released yesterday showed that the MPC now expect two-year�inflation to be lower despite raising the near term projection. Their central inflation�projection for two years ahead is 1.6%, about 0.2% lower than in February. The growth�forecasts were also lowered in the near term reflecting a poor Q1 2012 and on-going�concerns regarding the [...]
Focus on Eurozone Politics continues
by alex
16 May 2012 at 1:25am
Greece continues to capture the headlines with agreement expected today on formation of�an interim Government and likely announcement of new elections as soon as 10 June.�Meanwhile the first meeting between Merkel and Hollande resulted in a joint statement�pledging commitment from both to keep Greece in the euro with introduction of ?growth�measures? subject to adherence to [...]
Currencies do not like political uncertainty
by alex
15 May 2012 at 1:27am
Political risk events continue to dominate in Europe. The political deadlock continues in Greece although a Greek exit was not discussed at the Euro group meeting held yesterday, nonetheless, suggestions that Greece will leave the euro gained momentum leading to the EU Commission issuing a statement hoping that Greece would remain part of the euro [...]
What if Greece Exits?
by admin
14 May 2012 at 12:16am
From The Economist Online May 11th 2012, 0:22 by A.P. See original article As the Economist argues in our briefing�this week, a Greek exit from the euro zone would not just be chaotic for Greece itself but would also invite questions about the status of Portugal, Ireland and others. So what would policymakers have to [...]

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