2010/09/09 17:43*DJ Irish/German Yield Spreads Steady After T-Bill Auction
2010/09/09 17:42*DJ Irish 6-Month T-Bill Average Yield Set At 1.925%
2010/09/09 17:42*DJ Irish 8-Month T-Bill Average Yield Set At 2.19%
2010/09/09 17:39*DJ 10Y Irish/German Yield Spread At 368Bps After T-Bill Sale
2010/09/09 17:38*DJ 2Y Irish/German Yield Spread At 301Bps Post T-Bill Sale
2010/09/09 17:38*DJ December Bunds Down 0.38 At 130.87 After Irish T-Bill Sale
2010/09/09 17:36*DJ Hungary's HUF70B Bond Sale Above HUF50B Target
2010/09/09 17:35*DJ Ireland Sells EUR300M 6-Month T-Bills
2010/09/09 17:34*DJ Hungary Sells HUF20B November 2020 Bond, Average Yield 7.35%
2010/09/09 17:33*DJ Hungary Sells HUF20B February 2016 Bond, Average Yield 7.21%
2010/09/09 17:33*DJ Hungarian February 2014 Bond Average Yield Set At 7.18%
2010/09/09 17:32*DJ Hungary Sells HUF30B February 2014 Bond
2010/09/09 17:27=DJ DATA SNAP:UK Jul Goods Trade Deficit Largest On Record At GBP8.7B
2010/09/09 17:25DJ AU Optronics Seeking To Sell US$800 Mln Convertible Bond - Sources
HONG KONG -Taiwanese flat-panel maker AU Optronics Corp. is seeking to sell US$800 million worth of convertible bonds, people familiar with the matter said Thursday. An AU Optronics spokeswoman didn't immediately have a comment. Global LCD makers including AU Optronics have been boosting capital spending since last year in anticipation of stronger demand for liquid crystal displays widely used televisions and computers. Capital spending this year by LCD makers is expected to surge 43% to $16.9 billion from $11.8 billion in 2009, according to market researcher iSuppli Corp.
2010/09/09 17:25*DJ S&P Revises BMW Outlook To Stable; Affirms 'A-/A-2' Ratings
2010/09/09 17:21DJ UK Clegg: Spending Cuts Won't Start Until April 2011
LONDON -The cuts in U.K. government spending that will be announced on October 20 won't start until April 2011 and will be evenly spread over four years, Deputy Prime Minister Nick Clegg said Thursday. In an interview with the BBC, Clegg said many Britons were behaving as if the cuts--which will average 25% across government departments--will happen almost immediately after they are announced under the comprehensive spending review. 'Psychologically, people have persuaded themselves this is all going to happen overnight,' Clegg said. 'I don't think we should aggravate anxiety and fear by pretending there's a sword of Damocles coming down.' Clegg said the economic recovery is likely to be choppy and uneven, and that in deciding to push ahead with budget cuts, the government had assessed the 'balance of risks.' 'The risk of carrying on with the old plan was far greater, we would have been pushed around by the bond markets,' Clegg said. The government is working on measures to boost bank lending that will be announced soon, Clegg added. 'We are working on measures to create incentives and obligations,' he said. 'At the same time they are being asked to repair their balance sheets.'
2010/09/09 17:21*DJ S&P Sees BMW AG Outlk Stable
2010/09/09 17:20*DJ Portugal To Sell EUR750M 12-Month T-Bills September 15
2010/09/09 17:10*DJ 3-Month Euribor Falls To 0.879% Vs 0.880% Wednesday
2010/09/09 17:09*DJ Thai PM: Trend Is For Baht To Get Slightly Stronger
2010/09/09 17:08*DJ Thai PM: Dollar's Fall Below THB31 Not Beyond Expectations
2010/09/09 17:07*DJ OECD: Canada Annualized GDP +2.2% In 3Q, +2.3% In 4Q
2010/09/09 17:07*DJ OECD: Italy Annualized GDP -0.3% In 3Q, +0.1% In 4Q
2010/09/09 17:06*DJ OECD Padoan: Unilateral Forex Intervention Would Be Damaging
2010/09/09 17:06*DJ OECD Padoan: Uncertainty Over Econ Outlook Higher
2010/09/09 17:06*DJ OECD: German Annualized GDP +0.7% In 3Q, +1.1% In 4Q
2010/09/09 17:05*DJ OECD: France Annualized GDP +0.7% In 3Q, +0.3% In 4Q
2010/09/09 17:05*DJ Germany's IFW Sees Economy Growing 3.4% In 2010, 1.7% In 2011
2010/09/09 17:05*DJ France To Sell EUR8.5B Treasury Bills September 13
2010/09/09 17:05*DJ OECD: Japan Annualized GDP +0.6% In 3Q, +0.7% In 4Q
2010/09/09 17:04*DJ OECD: Underlying Inflation Has Continued To Moderate
2010/09/09 17:04*DJ OECD: UK Annualized GDP +2.7% In 3Q, +1.5% In 4Q
2010/09/09 17:04*DJ OECD: Governments May Have To Delay Budget Cuts
2010/09/09 17:03*DJ OECD: US Annualized GDP +2.0% In 3Q, +1.2% In 4Q
2010/09/09 17:03*DJ OECD Sees G7 Annualized GDP +1.4% In 3Q, +1% In 4Q
2010/09/09 17:02*DJ OECD: G7 Annualized GDP Was +3.2% In 1Q, +2.5% In 2Q
2010/09/09 17:01*DJ OECD: Central Banks May Have To Provide More Stimulus
2010/09/09 16:59*DJ HSBC: Well Prepared For A-Share Listing In Shanghai
2010/09/09 16:55DJ ECB: Members Need To Be Prepared To Cut Debt Burden Further
FRANKFURT -Euro-zone member states ought to be prepared to make even stronger efforts to reduce their debt burden should the economy grow less than expected, the European Central Bank said in its monthly bulletin Thursday. The 16 countries that use the currency should 'be prepared to accelerate consolidation where necessary to correct their excessive deficits,' the ECB said. 'If previously overly optimistic macroeconomic forecasts fail to materialize, countries should swiftly adopt additional consolidation measures to ensure that commitments are fulfilled,' it said. ECB Website: www.ecb.int
2010/09/09 16:52*DJ AU Optronics Seeking To Sell $800 Mln Convertible Bond - Sources
2010/09/09 16:49*DJ ECB's Mersch: Stricter Bk Capital Rules Will Benefit Econ
2010/09/09 16:48*DJ ECB's Mersch: Confident Ireland Will Take Necessary Steps
2010/09/09 16:48*DJ ECB's Mersch: Basel III Rules Must Be Applied Globally
2010/09/09 16:48*DJ ECB's Mersch: ECB To Decide On Liquidity Measures In Dec
2010/09/09 16:47*DJ ECB's Mersch: Important To Have Clarity On Bk Capital Rules
2010/09/09 16:47*DJ ECB's Mersch: Euro Zone Recovery Becoming More Broadly Based
2010/09/09 16:45*DJ Japan Vice Fin Min: Govt, BOJ's Announcements On FX Important
2010/09/09 16:44*DJ Japan Vice Fin Min: To Take Decisive Action On FX If Necessary
2010/09/09 16:39*DJ Lloyds Banking Group Raised To Equalweight From Underweight By Barclays Capital
2010/09/09 16:39*DJ UK Deputy PM: Significant Political Risks From Spending Cuts
2010/09/09 16:37DJ PBOC Adviser: Don't Expect Any Change To Property Policies - Xinhua
BEIJING -Investors shouldn't expect any change in China's tightening policies in the property sector, and China can't change its credit policy currently, People's Bank of China adviser Xia Bin was quoted as saying by the state-run Xinhua News Agency on Thursday. Some market participants have hoped for a loosening of the tightening measures, or a relaxation of China's CNY7.5 trillion full-year lending target, but government officials have repeatedly said no changes are imminent. Xia said China's economy is set to slow, without giving a specific timeframe, and people shouldn't have too high hopes either for the U.S. economy or for the potential growth rate of the Chinese economy, according to the report.
2010/09/09 16:33*DJ UK Jul Non-EU Trade Balance Forecast At Deficit GBP4.2B
2010/09/09 16:31*DJ UK Jun Non-EU Trade Balance Unrevised At Deficit GBP4.3B
2010/09/09 16:30*DJ UK Jun Global Trade Deficit GBP7.5B Rev Vs Deficit GBP7.4B
2010/09/09 16:30*DJ UK Jul Global Goods Trade Bal Forecast At Deficit GBP7.4B
2010/09/09 16:30*DJ UK Jul Adj Non-EU Trade Deficit GBP4.8B
2010/09/09 16:30*DJ UK Jul Adj Global Goods Trade Deficit GBP8.7B
2010/09/09 16:09DJ Powerlong Real Estate Holdings Plans 5-Year Dollar Bond-Source
2010/09/09 16:09*DJ Fitch: Weaker Members Highly Unlikely To Voluntarily Exit Euro
2010/09/09 16:08*DJ Fitch: Medium-Term Risk Of Euro-zone Break Up Remains Low
2010/09/09 16:05*DJ ECB: Sustainability Of Money Mkt Normalization Still Unclear
2010/09/09 16:04*DJ ECB: Crisis Has Challenged Euro Area Money Market Integration
2010/09/09 16:01*DJ Fitch: Ageing Poses Key Challenge To Fiscal Sustainability
2010/09/09 15:59*DJ Magnitude 6.1 Earthquake Strikes Off Chile Coast - USGS
2010/09/09 15:55*DJ Fitch:Greece, Ireland Borrowing To Exceed 30% Of GDP In 2011-12
2010/09/09 15:53*DJ Fitch Sees 2010 Euro-zone Govt Fiscal Funding Needs 18% Of GDP
2010/09/09 15:51DJ PRECIOUS METALS: Gold Sphinx-Like In Asia; Lack Of Cues
SINGAPORE -Gold was steady in Asia Thursday, completely immune to turmoil in industrial metals and taking little direction from foreign exchange markets. It remains poised just below the all-time intraday high of $1,265, with traders looking forward to the next round of economic data. 'Despite the worries over Europe this week, the focus is really on the U.S. The jobless claims data out tonight will be watched and the trade data always affects the dollar, so that could be the catalyst to break out of this range,' said Darren Heathcote, head of trading at Investec in Sydney. U.S. July international trade data and weekly jobless claims are both due at 1230 GMT. Beyond that there are few cues, with a sharp selloff in industrial and agricultural commodities in China apparently unrelated to any of the macroeconomic themes that drive gold. At 0645 GMT, spot gold was at $1,254.70/oz, down 50 cents since Wednesday's New York close with Tocom August 2011 gold at Y3390 a gram, down Y1. Other precious metals were also slightly lower with spot silver at $19.81/oz, down 9 cents and still struggling to overcome psychological resistance at the $20 level. Spot platinum was at $1,547/oz, down $6 with its 200-day moving average at $1,562 capping it for now. Spot palladium was at $520/oz, down $2.
2010/09/09 15:50DJ Russian Central Bank Reserves To Sep 3 At $477.3 Bln
MOSCOW -Russian gold and foreign-exchange reserves rose $1.5 billion to $477.3 billion in the week to Sept. 3, the central bank said in a statement Thursday.The increase came after reserves added $600 million in the week ending Aug. 27.Russia holds the world's third-largest gold and foreign-exchange reserves after China and Japan.
2010/09/09 15:50*DJ Fitch: Euro-wide Fiscal Retrenchment To Start In 2011
2010/09/09 15:49*DJ Fitch: Fiscal Tightening Raises Risk Of Euro-zone Double Dip
2010/09/09 15:46*DJ Fitch: Most Euro Countries Need 3-4 Years To Stabilize Debt
2010/09/09 15:43DJ Tokyo Shares End Higher; Eased Concerns Over European Debt Lift Mood -2-
2010/09/09 15:40*DJ PBOC Adviser: Investors Shouldn't Expect Any Change To Property Policies
2010/09/09 15:40=DJ WORLD FOREX: Japan Warnings Manage To Hold Back Soaring Yen-3-
2010/09/09 15:38=DJ WORLD FOREX: Japan Warnings Manage To Hold Back Soaring Yen-2-
2010/09/09 15:33*DJ Powerlong Real Estate Dlr Bond Non-Callable For 3 Years-Source
2010/09/09 15:32*DJ Powerlong Real Estate Dlr Bond To Yield 13.75%-14% -Source
2010/09/09 15:29*DJ Powerlong Real Estate Holdings Plans 5-Yr Dollar Bond-Source
2010/09/09 15:23*DJ UK Clegg: Econ Recovery Likely To Be Choppy And Uneven
2010/09/09 15:22DJ 10-Year JGBs Rise A Tad; Eyes On DPJ Election, 5-Year Auction
TOKYO -Benchmark 10-year cash Japanese government bonds ended slightly higher Thursday helped by bargain-hunting, but their topside was capped by uncertainty about whether Japan will have a new prime minister. "JGB yields are unlikely to rise sharply as absolute-rate buyers are eager to buy when interest rates go up. But it is likely to be difficult for investors to keep buying government bonds before Tuesday," when the outcome of the ruling Democratic Party of Japan's presidential election is settled, said Makoto Yamashita, a strategist at Deutsche Securities. Ichiro Ozawa, a powerful political kingmaker, is openly challenging Prime Minister Naoto Kan for the DPJ leadership in a close race, the winner of which will almost certainly be prime minister. Because Ozawa has pledged that if elected, he will implement ambitious spending plans contained in the party's 2009 election manifesto, oversupply concerns have grown rapidly in the bond market. Thus, players remain reluctant to purchase aggressively before the election, analysts say. Yamashita expects the benchmark 10-year cash JGB yield to move in a 1.09%-1.16% range until Tuesday. The 10-year yield was down 0.5 basis point at 1.120%, as of 0600 GMT. Meanwhile, lead December JGB futures finished the day flat at 141.62. The lead contract shifted to December from September earlier in the day. For the coming session, JGB players will focus on the Ministry of Finance's sale of Y2.4 trillion of five-year JGBs. RBS Securities strategist RuiXue Xu sees "little risk to the auction" because of the Bank of Japan's easing bias, domestic banks' holdings of ample surplus cash and an attractive valuation in the sector. On Wednesday, BOJ Gov. Masaaki Shirakawa said that if downside risks to the economy materialize, "and the economy worsens at a faster pace than we expect, we are ready to take additional measures." "Such intensifying prospects for the bank to ease further have attracted buyers back, with the five-year benefiting the most from new movements," Xu said. Usually, short- to medium-term zones are the most sensitive to changes on monetary policy.
2010/09/09 15:20*DJ UK Clegg: Working On Measures To Boost Bank Lending
2010/09/09 15:16*DJ UK Clegg: Spending Cuts Won't Start Until April 2011
2010/09/09 15:11DJ Tokyo Shares End Higher; Eased Concerns Over European Debt Lift Mood
2010/09/09 15:05*DJ Stoxx Europe 600 Index Dn 0.2% After The Open
2010/09/09 15:04=DJ WORLD FOREX: Japan Warnings Manage To Hold Back Soaring Yen
2010/09/09 15:03DJ Forex Options: Dollar/Yen Options Down, Break In Spot Lull Eyed
TOKYO -Dollar/yen options declined in Tokyo Thursday as the underlying exchange rate settled somewhat after its fall to a 15-year-low, but the downside for volatilities looks limited as investors remain cautious about further gains in the Japanese unit.Benchmark one-month at-the-money dollar/yen volatilities fell to 12.40%/13.10% in Tokyo from 12.45%/13.15% in New York Wednesday.Compared with the big moves it made earlier in the week, the greenback's recent moves have been relatively subdued. As of 0400 GMT it was changing hands against the yen at Y83.74 after trading in a Y83.66-Y84.04 range during the morning session.An options dealer at a major Japanese bank said that even though the exchange rate hasn't made a major move in either direction today volatilities are unlikely to drop further because investors are unwilling to get rid of their downside hedges.Suggesting people in the market are still wagering that the greenback will break through the Y83 barrier, the dealer said one player bought a two-month dollar-put/yen-call contract at Y82.45 with implied volatilities of 13.3% for an unknown amount.The dealer also said markets are keenly focused on U.S. data for international trade in goods and services for July and weekly jobless claims for the week ending Sept. 4. Both data are to be released at 1230 GMT.If the results are better than expected that would lift the exchange rate, reducing hedging demand for the dollar's falls against the yen, he added.
2010/09/09 15:02*DJ FTSE 100 Dn 0.1% After The Open
2010/09/09 14:57*DJ Japan PM Kan: To Work Hand-In-Hand With Ozawa After DPJ Poll - Kyodo
2010/09/09 14:52DJ Front-End Bond Futures Were Sold Hard
SYDNEY -The Australian dollar scorched its way to a four month high in Asia Thursday after sterling jobs numbers pumped the flames of another rate hike by the central bank before year end. Front-end bond futures were sold hard as rates traders rushed to reverse their outlook on the timing of further monetary policy tightening by the Reserve Bank of Australia. The economy added 30,900 jobs in August, driving the unemployment rate down to 5.1%. At 0545 GMT, the Australian dollar was at US$0.9215, up from US$0.9140 late Wednesday - it jumped to a four month high of US$0.9234. Against the Japanese yen, the Australian dollar was at Y77.085, up from Y76.255. Westpac strategist Jonathan Cavenagh said the currency may run into resistance soon, but could buy US$0.9300 in coming days given the strength of the local economy. 'The data continues to roll in quite nicely,' he said. Su-Lin Ong, a senior strategist at RBC Capital Markets, said the jobs numbers are a wake up call and illustrate while the global outlook is mixed, domestic demand could yet force the RBA's hand soon. Interbank futures are now pricing a 50% chance of a 25 basis point hike by November - only recently, the market had been pricing in rate cuts. For bonds, this means further pain, Ong said. 'Going into London there is going to be pressure on the front end,' she said. The RBC strategist noted offshore demand for yield is still strong despite the period of political uncertainty, and said the Australian bonds remain driven by a tug-of-war between the global outlook and domestic. Three year bonds fell nine ticks to 95.41, 10-years fell four ticks to 95.085. Deutsche Bank strategists expect the spread between 3-year and 10-year bond futures to implied yields to narrow further. 'We view October as very much 'live' for an RBA rate hike. If global sentiment improves then there is considerable scope for further front-end weakness in Australia,' strategist David Plank said.
2010/09/09 14:50*DJ Ozawa: Further Spending Needed To Boost Japan Economy - Kyodo
2010/09/09 14:40=DJ DATA SNAP: German Final Aug CPI Unch At 0.0% MM, +1.0% YY
2010/09/09 14:33*DJ Dollar Down At KRW1,167.4 Late Thursday Vs KRW1,172.8 Wednesday
2010/09/09 14:16*DJ Dollar At MYR3.1100 Vs MYR3.1135 Late Wednesday
2010/09/09 14:15*DJ Malaysia Central Bank Bought Dollars At MYR3.1100 - Dealers
2010/09/09 14:14=DJ INTERVIEW: Janus Capital Eyes Asia Growth; On Lookout For Non-US Head
2010/09/09 14:02*DJ Nikkei Stock Average Closes Up 0.8% At 9098.39
2010/09/09 14:01*DJ German Final Aug CPI Forecast Unch On Mo; +1.0% On Yr
2010/09/09 14:00*DJ German Final Aug CPI Unch On Month; +1.0% On Year
2010/09/09 13:26DJ Shanghai Futures Exchange Official: No Investigation Into Rubber Futures Trading
SHANGHAI -A Shanghai Futures Exchange official said Thursday that there hasn't been an investigation so far into rubber futures trading, despite market rumors of a probe. 'We are not aware of looking into Shanghai natural rubber futures trading, and we haven't received any notice from the regulator to look into rubber trading,' the official, who declined to be named, told by phone. 'So far, rubber futures trading on SHFE is within allowed limits and trading regulations in spite of the selloff.' Chinese metals and agricultural futures markets were sharply lower in early trade, with rumors circulating that the government is investigating illegal bank loans being channeled into financial derivatives and that CSRC in Zhejiang is probing a brokerage allegedly exiting large positions in SHFE rubber. CSRC's Zhejiang branch declined to comment when contacted.
2010/09/09 13:19*DJ 11 Of 15 Analysts Say BOK To Up Rates By 25 BPs In 4Q - Survey
2010/09/09 13:17*DJ PBOC Gov: 'Too Low' Rates Would Have Discouraged Lending
2010/09/09 13:16*DJ PBOC Gov: Avoided 'Too Low' Interest Rates At Start Of Crisis
2010/09/09 13:05DJ Japan Govt: Consumer Sentiment Index 42.4 In Aug Vs 43.3 In Jul
2010/09/09 12:57*DJ PBOC Gov: Setting Minimum Lending Rates Encourages Direct Financing
2010/09/09 12:07*DJ Shanghai Futures Exchange Official Spoke To Dow Jones Newswires By Phone
2010/09/09 11:58*DJ SHFE Official: Rubber Futures Trading Within Allowed Limits Despite Selloff
2010/09/09 11:57*DJ SHFE Official: Not Aware Of CSRC Looking Into Shanghai Rubber Futures
2010/09/09 11:54*DJ Shanghai Futures Exchange Official: Trading So Far Within Regulations
2010/09/09 11:53*DJ SHFE Official: No Investigation Into Rubber Futures Trading As Rumored
2010/09/09 11:33DJ BOK Governor: Current Rate Of 2.25% Not 'Desirable'
SEOUL -Bank of Korea Governor Kim Choong-soo said Thursday that the current policy rate level of 2.25% isn't 'desirable,' suggesting that the central bank might tighten its monetary stance further in the coming months. But the governor said it may take some time for it to return to a neutral level, given the uncertainty surrounding the global economic recovery. He didn't specify the neutral rate level for South Korea. Last week, the International Monetary Fund said a more neutral policy rate for South Korea would be around 4%, while calling for a 'carefully calibrated' exit from supportive macroeconomic policies. Earlier Thursday, the BOK kept its benchmark interest rate unchanged at 2.25%, pausing in its tightening cycle for a second straight month amid increased uncertainty about the recovery in the global economy.
2010/09/09 11:29DJ BOJ Gov: More JGB Buying May Have Adverse Effects On Market
2010/09/09 11:25=DJ MONEY TALKS: Fear Still Rules Currency Markets
2010/09/09 11:24DJ BOK Governor: Current Domestic Growth Outlook Unlikely To Change
DJ BOK Governor: Current Domestic Growth Outlook Unlikely To ChangeSEOUL -Bank of Korea Governor Kim Choong-soo said Thursday that the current domestic growth outlook isn't likely to change as the Korean economy is likely to continue grow strongly, although uncertainty about the global economy has risen.Still, Kim said he doesn't expect there will be a global double-dip recession.The central bank stood pat on rates earlier in the day, but the governor said there's no change in its policy stance to move toward rate "normalization."Kim also said inflation may rise above the central bank's expectation of 3.2% in the fourth quarter, but the central bank will aim to keep it below 3% for the whole of 2010.
2010/09/09 11:23DJ Japan Noda: Conducting Various Simulations On FX Action
TOKYO -Japan's finance minister indicated Thursday the government is examining how it should conduct a potential market intervention against the yen's sharp rises. 'We are conducting various simulations,' Yoshihiko Noda said during a parliamentary session. Noda made the comments in response to questions on the Finance Ministry's past intervention practices and their impact on markets. Noda also repeated his pledge to take 'decisive steps' in the currency market when it becomes necessary.
2010/09/09 11:08*DJ Japan Fin Min: FX Reserves Paper Losses Y12 Tln As Of July
2010/09/09 11:06DJ MAS May Intervene If US Dollar Stays 'Consistently' Below S$1.3410 - Source
SINGAPORE -Singapore's central bank is poised to intervene in the currency market if the local dollar trades 'consistently' below S$1.3410, a person familiar with the situation said Thursday.'The are watching the (local dollar's) rise very closely. If it trades consistently below S$1.3410 they will likely intervene,' that person told .The Singapore dollar briefly hit an all-time high of S$1.3407 earlier Thursday amid widespread weakness of the greenback against Asian currencies. At 0155 GMT it traded at S$1.3414.The Monetary Authority of Singapore last intervened Sept. 3, after the U.S. dollar fell to S$1.3425, according to a person familiar with the central bank's thinking.
2010/09/09 11:05*DJ Japan Fin Min Noda: Don't Want Talk About Goal Of Intervention
2010/09/09 11:04DJ Barclays Names Thelma Kwan Head Of Wealth Advisory For Asia Pacific
SINGAPORE -Barclays Wealth, the global wealth management division of Barclays PLC, Thursday announced the appointment of Thelma Kwan as Head of Wealth Advisory for Asia Pacific.Based in Hong Kong, Kwan will head a team of trust consultants in Hong Kong and Singapore and oversee marketing of wealth advisory services to high-net-worth clients across Asia, the bank said in a statement.Kwan was previously at LGT Management Services where she was executive director of trust services for the past three years, the statement said.
2010/09/09 11:04*DJ Japan Fin Min Noda: Decisive Steps Will Include FX Intervention
2010/09/09 10:54*DJ BOK Governor: Will Target To Keep Inflation Below 3% For This Year
2010/09/09 10:51*DJ BOK Governor: Will Take Time To Return To "Neutral Level" Of Rates
2010/09/09 10:51*DJ BOK Governor: Current Rate Of 2.25% Not "Desirable"
2010/09/09 10:48DJ BOK: Aim To Sustain Sound Growth Under Accommodative Stance
SEOUL -The Bank of Korea said Thursday it will conduct its monetary policy to help the economy maintain price stability, while sustaining sound growth 'under the accommodative policy stance.' In its policy statement, whose language didn't change much from last month, the central bank said it will 'take into account overall financial and economic conditions at home and abroad,' in carrying out policy going forward. Since August, the BOK has dropped the phrase 'to maintain' in describing how it will run monetary policy going forward, suggesting it could raise rates in the near future. The central bank kept its benchmark interest rate unchanged at 2.25% for a second straight month at a rate-review meeting early in the day.
2010/09/09 10:41*DJ BOK Governor: 4Q Inflation Could Rise Above Expected 3.2%
2010/09/09 10:40DJ Geithner: Tax Breaks For Small Businesses Highest Priority -CNBC
WASHINGTON -U.S. Treasury Secretary Timothy Geithner said the Administration aims for Congress to pass tax breaks for small businesses in the coming weeks and months as the highest economic priority for federal legislators.'The first order of business is for Congress to come and pass this set of very important tax breaks for small businesses, so they can start to hire people back again and once again be the engine of job creation in this country,' Geithner said in a television interview on CNBC.'The second most important thing that Congress can do is extend the tax cuts that go to middle class Americans,' he said.If Congress passes the Administration's proposals, the Treasury Secretary said they would spark much-needed business confidence.With 'unacceptably high' unemployment still hovering near 10% as a result of a 'terribly savage recession,' Geithner said 'it's going to take us a while for us to dig out of this.'Support for Democrats--including the administration--has waned in the face of the ongoing economic doldrums and the White House has revived efforts ahead of mid-term elections to combat growing perceptions the party's policies have largely been ineffective.The Treasury Secretary said growth in private investment slowed over the summer, with confidence damaged by the sovereign debt crisis in Europe, and there was 'a long way to go' to hike overall investment in the economy.Earlier in the day, President Barack Obama unveiled a series of aggressive, pro-business proposals to lift the economy that the GOP has previously supported. The proposals, which include a mix of tax cuts and injections to rebuild outdated infrastructure across the U.S., are aimed at removing enough uncertainty to get businesses to unleash caches of money.'By reinforcing investment today, we can help make sure that we are digging out of this hole much more quickly,' Geithner said.The Treasury Secretary said the administration's proposals needed to be crafted in such a way as to not add to the country's long-term deficit, but didn't elaborate how that could be achieved. The administration has vowed to cut the deficit in half by the middle of next decade.Republicans, meanwhile, have said they want to extend tax breaks made under President George Bush, not just for the middle class. Geithner acknowledged the GOP proposal has some Democratic support in Congress, adding another complicating factor for passage of the President's proposals.Speaking on another controversial topic--China's exchange rate policy--Geithner told Bloomberg television he was unsatisfied about the rate of Beijing's move toward a floating exchange rate.'It's important to let the market play a greater role in setting the exchange rate,' the Treasury Secretary said.'China has begun that process, but frankly they haven't let the currency move very much so far... we'd like to see them move more quickly,' Geithner said.Addressing new international banking standards, the secretary said while the Obama Administration's seeking stronger capital levels, 'we want to make sure that we do that in a way that does not add to the headwinds facing this economic recovery,' by allowing a long enough transition period for the new rules.
2010/09/09 10:30*DJ BOK Governor: Don't Expect Global Double-Dip Recession
2010/09/09 10:29DJ Japan Industry Minister: Private Sector Voiced Concern Vs Strong Yen
TOKYO -The recently strong yen was discussed as a concern for the Japanese economy during the inaugural high-level meeting of government ministers, the central bank governor and members of the private sector, Japan's industry minister said Thursday. 'During the meeting, private sector members said the recently-strong yen is prompting Japanese firms to move overseas and make more capital investment abroad,' Minister of Economy, Trade and Industry Masayuki Naoshima said after the meeting. 'The remark expresses the private sector's strong concern' about sharp gains in the local currency. The gathering, led by Prime Minister Naoto Kan, was the first in a series of industry-government-academia meetings to realize the Cabinet's new growth strategies.
2010/09/09 10:29*DJ Japan Fin Min Noda:Hard To Assess If Past Massive Intervention Effective
2010/09/09 10:27*DJ BOK Governor: Current Domestic Growth Outlook Unlikely To Change
2010/09/09 10:26*DJ Japan Noda: Will Take Decisive Steps Vs Yen If Needed
2010/09/09 10:05*DJ Barclays Appoints Thelma Kwan Head Of Wealth Advisory For Asia Pacific
2010/09/09 09:54*DJ BOK: Aim To Sustain Sound Growth While Keeping Accommodative Stance
2010/09/09 09:49*DJ Japan Fin Min Noda: Downside Risks To Economy Increasing
2010/09/09 09:48*DJ MAS May Intervene If US Dollar Stays "Consistently" Below S$1.34010 - Source
2010/09/09 09:48DJ Japan Finance Minister: Discussed Yen Rises At Government Meeting
TOKYO -Japan's Minister of Finance Yoshihiko Noda said Thursday that the issue of yen's appreciation was discussed during a high-level meeting earlier in the day attended by government ministers, the governor of the Bank of Japan, and members of the private sector. 'The issue of the yen's rise was raised' by private sector attendees, Noda told reporters after the meeting. The finance minister didn't offer any details of the discussion. Noda's comments contrast those of BOJ Gov. Masaaki Shirakawa, who told reporters that there was no talk of monetary policy or foreign exchange rates during the meeting.
2010/09/09 09:42*DJ Japan Econ Min Arai: PM Says Ending Deflation Most Important Macroecon Goal
2010/09/09 09:39*DJ US Dollar Trades At S$1.3407 Vs S$1.3444 Late Wednesday
2010/09/09 09:33DJ Bank Of Communications Aims To Double Profit, Assets In 5 Years - Report
HONG KONG -Bank of Communications Co., China's fifth-largest bank by assets, aims to double its net profit and assets over the next five years, Chinese-language Sing Tao Daily reported Thursday, citing bank Chairman Hu Huaibang.Hu said he expects Bank of Communications' total assets to rise to CNY7.4 trillion in 2015 from CNY3.7 trillion now, the report said.He was also cited as saying the bank is considering expanding its business through acquisitions mainly in Asia including Hong Kong, though he didn't provide a timeframe or details.Bank of Communications, in which HSBC Holdings PLC owns a 19% stake, was the first Chinese bank to list outside China when it listed in Hong Kong in 2005.Newspaper website: http://www.singtao.com
2010/09/09 09:30*DJ BOK: Consumer Price Inflation Likely To Gather Pace
2010/09/09 09:29*DJ BOK: Fiscal Woes In Europe A Downside Risk To Growth
2010/09/09 09:20*DJ BOJ Gov: More JGB Buying May Hurt Fiscal Discipline
2010/09/09 09:20*DJ Japan Indus Min: Private Sector Voiced Concern Vs Strong Yen At Meeting
2010/09/09 09:18*DJ BOJ Gov: Shrinking BOJ Balance Sheet Doesn't Mean Monetary Tightening
2010/09/09 09:10*DJ BOJ Gov: To Take 1, 2 Years Before Monetary Policy Effects Spread
2010/09/09 09:09DJ AMP: AXA Asia Pacific Remains Strategically Attractive At Right Price
MELBOURNE -AMP Ltd. (AMP.AU) continues to see AXA Asia Pacific Holdings Ltd. (AXA.AU) as an attractive strategic target but sees no urgency to make any quick moves on the group after the Australian Competition and Consumer Commission said it continues to oppose National Australia Bank Ltd.'s (NAB.AU) A$13.3 billion bid for AXA APH, an AMP spokeswoman said Thursday.'AMP has always said AXA remains strategically attractive but at the right price,' the AMP spokeswoman said.She said the group feels no sense of urgency to decide on its next steps and said whether the group will seek fresh talks with AXA APH's parent company, AXA SA is 'a decision for another day'.She said the group welcomed the ACCC's decision to oppose NAB's deal and said it was a 'great outcome for competition'.
2010/09/09 09:08*DJ Dollar Off Lows At KRW1,172.1 Vs KRW1,168 Earlier, KRW1,172.8 Wed
2010/09/09 09:04*DJ September Bond Futures Up 29 Ticks Vs 8-Tick Rise Earlier
2010/09/09 08:57=DJ SF Fed Official: Economy Is Still Making 'Forward Progress'
2010/09/09 08:45DJ Chances Of US 'Double Dip' Recession About 40% - Roubini
TORONTO -The chances of a 'double dip' recession in the U.S. remain at roughly 40% despite some recent economic data that surprised on the upside, economist Nouriel Roubini said Wednesday. 'I have not changed my position. My view is that the odds are around 40%,' said Roubini, professor at the NYU Stern School of Business in New York and chairman of Roubini Global Economics. Roubini was speaking to reporters before a speech sponsored by the Toronto-based C.D. Howe Institute. A 'double dip,' or a second period of contraction in the U.S. economy, could occur within the next 12 months, he said. Roubini said recent U.S. data, such as the August nonfarm payrolls report, that exceeded expectations still reflected a weak economy in absolute terms. 'Some of them came better than expected, but they were dismal by any absolute standard,' he said. Roubini said recent additional stimulus measures proposed by U.S. President Barack Obama recently, including tax cuts and infrastructure spending, would only have a modest effect on bolstering U.S. growth if they go into effect. 'The size of them is not large enough to make a difference for the economic outlook,' he said. Roubini said the U.S. Federal Reserve will likely resort to additional quantitative easing in order to bolster the U.S. economy, but questioned its effectiveness. 'I don't think, at this point, monetary policy makes much of a difference,' he said. An increase in money supply won't stimulate additional lending by banks, he said. 'The problems are not problems of liquidity, but problems of credit, solvency and balance sheets that are damaged that monetary policy ... can not resolve,' he said. 'We are running out of policy tools on the monetary side as well as on the fiscal side.' The Fed will likely delay any additional quantitative easing until after if its September policy meeting, he said. While the Canadian economy has been more robust than that in the U.S., Canada's heavy reliance on exports to the U.S. suggests economic growth in Canada will remain near the potential growth level of about 2% for about the next 18 months, Roubini said. The Bank of Canada, which raised its key overnight target rate by 25 basis points to 1.00% earlier Wednesday is likely to keep the rate steady at that level in the coming months, he said. 'If this is a material weakening of Canadian growth because of the U.S., then, more likely than not, they're going to stay on hold,' Roubini said. -Don Curren, ; 416-306-2020; don.curren@dowjones.com -
2010/09/09 08:42*DJ No Sign Of Central Bank Activity In FX Market This Morning - Dealers
2010/09/09 08:41*DJ AMP: AXA APH Remains An Attractive Strategic Target
2010/09/09 08:41*DJ Dollar Falls To THB30.85 On Offshore Dollar Selling
2010/09/09 08:36*DJ BOJ Shirakawa: No Discussion On FX, Monetary Policy At Govt Panel
2010/09/09 08:34*DJ Japan Fin Min Noda: Discussed Yen Rises
2010/09/09 08:27*DJ Japan MOF: Large Co Sentiment Hurt By Strong Yen, Overseas Econ Outlook
2010/09/09 08:16*DJ Malaysia Ringgit Rises; Dollar At Fresh 13-Year Low Of MYR3.1100 -Dealers
2010/09/09 08:05*DJ Nikkei Stock Average Opens Up 1.1% At 9120.54
2010/09/09 08:03*DJ December JGB Futures Open Down At 141.48 Vs 141.62 Wednesday
2010/09/09 07:50DJ Japan Govt Eyes Year-End Extra Budget To Fund Stimululs-Kyodo
TOKYO -Japan's government is contemplating compiling a supplementary budget for fiscal 2010 to address the surging yen and boost the economy and avoid new bond issuance to finance the stimulus package, Kyodo News reported Thursday, citing government sources. The Cabinet of Prime Minister Naoto Kan plans to submit the supplementary budget to the ordinary Diet session soon after it is convened in January, rather than to this fall's extraordinary session, Kyodo reported. With the method, the government is expected to secure several trillion yen for the extra budget without issuing additional government bonds, Kyodo said. Kan is planning to announce the fresh stimulus package Friday. -Tokyo Bureau, ; +81-3-6269-2770
2010/09/09 07:16DJ ECB's Weber: Tighter Capital Standards Won't Hurt Economy
FRANKFURT -Tighter standards for banks' capital and liquidity won't hurt the economy, European Central Bank governing council member Axel Weber said Wednesday. Weber told a banking conference that the lengthy transition phase foreseen by international regulators working on the new requirements will help to ensure that banks don't find themselves too overburdened and unable to lend to the real economy. 'The real challenge lies in bringing harmonized international rules into line with differing national circumstances,' Weber said. He reminded his audience that the aim of greater systemic stability was no end in itself, and that the economic costs of the 2007-2008 banking crisis had been immense. German regulators had publicly expressed reservations about the preliminary agreement reached by international regulators in July on new standards for bank capital and liquidity. The Bank for International Settlements' committee of Governors and Heads of Supervision intends to agree a more detailed version of the requirements next week. Website: www.bundesbank.de
2010/09/09 07:14=DJ Kocherlakota: High Unemployment Rate Tied To Labor Market Imbalances
2010/09/09 06:26DJ CREDIT MARKETS: High-Grade Market Expects 2nd Straight $15B Day
2010/09/09 06:13DJ HP Interim CEO Says 'Business Will Prevail' Between HP, Oracle
NEW YORK --Hewlett-Packard Co.'s interim chief executive said Wednesday a spat with Oracle Corp. over its hiring of HP's former CEO will not have a long-term impact on the relationship between the two business giants.HP-Oracle ties may be strained now, "but at the end of the day business will prevail and ultimately we will go back to being good partners and competitors where we've been competitors, and partners where we've been partners," Catherine Lesjack said at the 2010 Citi Technology Conference."I believe HP is important to Oracle and Oracle's an important partner of ours," said Lesjack, the HP chief financial officer who was named interim CEO of the U.S. computer giant after CEO Mark Hurd resigned last month over improper expense reports.HP filed suit against Hurd on Tuesday after he was a named a co-president at Oracle, claiming that taking up the position would violate trade secret and confidentiality agreements.Oracle chief executive Larry Ellison fired back at HP's lawsuit with a statement saying, "Oracle has long viewed HP as an important partner."By filing this vindictive lawsuit against Oracle and Mark Hurd, the HP board is acting with utter disregard for that partnership, our joint customers, and their own shareholders and employees."The HP Board is making it virtually impossible for Oracle and HP to continue to cooperate and work together in the IT marketplace," Ellison said.Lesjack noted that HP has "not filed suit against Oracle -- we have actually filed suit against Mark.""Mark signed a number of agreements to basically keep trade secrets and confidential information confidential," she said. "It's important for him to be reminded that he signed those agreements."Lesjack said HP's CEO search committee was interviewing both internal and external candidates. "There were some worries that there weren't going to be that many but that certainly doesn't seem to be an issue," she said.Lesjack also discussed HP's recent acquisitions of data storage firm 3PAR and smartphone maker Palm."We are very excited about winning the 3PAR deal," she said. "It is a very strategic position because it gives us both a cloud and a service provider offering in the storage space."As for Palm, Lesjack said HP was attracted by its mobile operating system webOS."If it was just about smartphones I don't think we would have done it, in fact I'm sure we wouldn't have," she said. "It wouldn't have made sense for HP."The Palm acquisition was really about the webOS and being able to leverage that across the connected mobile devices," she said. "We really wanted to have a product offering across connected mobile devices, whether it's smartphones, slates and potentially netbooks."
2010/09/09 06:10=DJ WORLD FOREX: Portugal Bond Sale Lifts Euro Against Dollar, Yen
2010/09/09 06:10=DJ US Small-Cap Stocks Rise Modestly As Materials Gain -2-
2010/09/09 06:05=DJ US Stocks Rise, Marking DJIA's Fifth Gain In Six Sessions-2-
2010/09/09 05:56=DJ Obama Says Taxes On Wealthy Not A Punishment
WASHINGTON -President Barack Obama on Wednesday urged Republicans to stop holding tax cuts for the middle class hostage and said pending tax hikes on the wealthy shouldn't be seen as a form of punishment."This isn't to punish folks who are better off, God bless 'em--it's because we can't afford the $700 billion price tag," Obama said of tax cuts for the wealthy that are set to expire at the end of the year. Republicans want all the cuts extended, while Obama wants tax cuts only for Americans making less than $250,000.Tax cuts are one of a series of divisive issues in the run-up to mid-term elections.Obama also unveiled a series of aggressive, pro-business proposals to lift the economy that the GOP has previously supported.The proposals, which include a mix of tax cuts and injections to rebuild outdated infrastructure across the U.S., are aimed at removing enough uncertainty to get businesses to unleash caches of money. The ideas are part of new a new push by the Obama administration to deaden criticism that the president and Democrats don't have the best approach to strengthening the economy ahead of tough mid-term elections.Obama's speech was set in Cleveland, a strategic location considering it is the home turf of House Republican leader John Boehner of Ohio. Boehner, just weeks ago in the same city, called on Obama to fire his economic team.Obama's proposals face tough headwinds amid a tight legislative agenda in Congress before mid-term elections in November and acrimonious partisanship. Republican lawmakers and business leaders are leery of Obama's new proposals, saying they don't know how they'll be paid for. The ideas are expected to cost at least $180 billion.Republicans have also raised concerns about the growing deficit. Obama addressed some of those concerns in his remarks. "I'll be honest--I refuse to cut back on those investments that will grow our economy in the future--investments in areas like education and clean energy and technology," he said.He also pledged to not "pass on the debt we inherited to the next generation."The GOP and business community say the new ideas are no substitute for allowing tax cuts for the wealthy to expire. The administration has been unwilling to budge on that point despite support from Obama's former budget director, Peter Orszag, to extend the wealthy tax cuts in exchange for Republican support for middle-class tax cuts.Obama said middle class families "deserve a break." He added, "And because folks in the middle class are more likely to spend their tax cut on basic necessities, this will strengthen the economy as a whole."The Obama administration has said tax cuts for the wealthy would do little to lift the economy. Republicans have said they will filibuster legislation on the tax cuts, introduced under the administration of former President George W. Bush, if it doesn't include extending the tax breaks for the wealthy. Some Democrats, however, have also called for an extension of all the tax cuts, even those for the wealthy.Senate Republican Leader Mitch McConnell of Kentucky, in response to the speech, said in a statement the American public doesn't want "more government, more debt and more taxes." He said businesses have already been hit with higher health-care costs, related taxes and sweeping financial regulation.Many see the president's new ideas as a win-win for him and Democrats. If Republicans support the proposals, the economy may get a new lift and Democrats will have something to brag about on the campaign trails. If Republicans reject the proposals, it will be easy for Democrats to brand them as obstructionists.
2010/09/09 05:52DJ EU Juncker:EU Growth Insufficient; Must Work On Competitiveness
LUXEMBOURG -Economic growth in Europe is insufficient, and the members of the European single currency zone must work more to even out imbalances in the group's internal competitiveness, a senior euro zone official said Wednesday.Jean-Claude Juncker, Luxembourg's prime minister and head of the Euro Group, also said states must begin winding down economic stimulus measures taken in the past. European countries in general swelled their public-sector deficits in 2009 by spending vast sums of money to stimulate their moribund economies.Juncker reiterated at a conference that countries breaking the fiscal rules of the euro zone, or the so-called growth and stability pact, should be punished with automatically triggered sanctions. But he ruled out expelling members from the euro zone or stripping them of voting rights within the group.Separately, Juncker said it isn't easy to talk about currencies within the Group of 20 leading economies. European countries, led by France in particular, have persistently complained over the years about currency imbalances that have benefited the trade positions of other countries, as the euro is relatively strong against competitors like the U.S. dollar, Japanese yen and especially the Chinese yuan.
2010/09/09 05:32DJ Treasurys Fall, Pounded By Heavy Debt Supply, Gains In Stocks
YORK -Treasurys fell Wednesday as a deluge of government and private debt supply overshadowed a strong 10-year note sale and a soft reading from the latest Federal Reserve economic survey.Demand for safe assets also faded as well-bid government bond auctions from the Portuguese government eased worries about the euro zone's banking system and sovereign debt. The U.S. stock market rebounded from a selloff a day earlier, and the Treasury market reversed Tuesday's rally.The 30-year Treasury was the biggest loser, as the market braces for a $13 billion 30-year bond auction at 1 p.m. EDT Thursday, which will wrap up this week's $67 billion new government debt offerings."Set-up for the 30-year bond auction is at bat," said Kevin Giddis, president of fixed income capital markets at Morgan Keegan Inc. in Memphis, Tennessee. "Traders would like to own it cheaper than the current level, so they will try to drive prices lower between now and Thursday, if possible."As of 3:48 p.m. EDT, the benchmark conventional 10-year note was down 14/32, pushing up the yield by 5.2 basis points to 2.650%. The 30-year bond was 1 1/32 lower, and its yield rose 5.7 basis points to 3.719%. Bond prices move inversely to yields.Treasurys were also pounded by corporate bond supply as many companies are taking advantage of historically low interest rates to refinance their debt.In two straight days, investment-grade issuance has topped $30 billion, with the likes of Hewlett-Packard Co. , Home Depot Inc. , Aon Corp. , France Telecom (FTE, FTE.FR) and even Freddie Mac tapping the market. Supply this month could be in the range of $75 billion to $100 billion, akin to the $99 billion sold last year in September.Treasurys are the typical instruments for companies to hedge their sales of new debt. By selling Treasurys, they can neutralize the risks of higher interest rates, making the debt sales more cost-effective."Pent-up debt supply is...seeing the light of the day," said David Coard, head of fixed-income trading in New York at Williams Capital Group, adding that Treasurys were pressured as they competed with corporate bonds for investors' money.The selling, which pushed up bond yields, enticed buyers to bid on a $21 billion 10-year note sale. The auction, an additional offering of a $24 billion 10-year auction in August, was 3.21 times oversubscribed, compared with the average of 3.15 for the previous eight auctions.The notes were sold at a yield of 2.67%, the lowest since the auction in January 2009, which allows the U.S. government to continue to finance its budget shortfall at historically low interest rates. Tuesday, the new three-year notes, in the amount of $33 billion, were sold at a record-low yield of 0.79%.The indirect bid for the 10-year notes, a proxy of buying from foreign investors including central banks, was 55%, the highest since September 2009 and compared with the average of 38.8% for the previous eight auctions."The Treasury Department has had little if any difficulty in bringing its debt to market despite budget, debt, deficit and interest rate concerns," said Dan Greenhaus, chief economic and bond strategist at Miller, Tabak & Co. in New York. "If the bond market is to be believed, these really aren't concerns at all."Treasurys bounced off the worst levels of the day as the Fed's beige book report said the U.S. economy hit a soft patch in the second half of July and through August. The economic expansion was continuing, albeit "with widespread signs of a deceleration compared with preceding periods," said the release.President Barack Obama on Wednesday urged Republicans to stop holding tax cuts for the middle class hostage and said pending tax hikes on the wealthy shouldn't be seen as a form of punishment."This isn't to punish folks who are better off, God bless 'em -- it's because we can't afford the $700 billion price tag," Obama said of tax cuts for the wealthy that are set to expire at the end of the year. Republicans want all the cuts extended, while Obama wants tax cuts only for Americans making less than $250,000.US Swap Spreads Slightly WiderThe two-year spread, which measures the extra two-year swap rate over two-year Treasury yield and a main gauge of credit risks, was 1 basis point wider at 19.25 basis points. The 10-year swap spread was 1 basis point wider at negative 3.25 basis points.
2010/09/09 05:18=DJ US Stocks Rise, Marking DJIA's Fifth Gain In Six Sessions
2010/09/09 05:01=DJ US Small-Cap Stocks Rise Modestly As Materials Gain
2010/09/09 04:44*DJ Geithner: Stronger International Capital Standards Critical-Bloomberg TV
2010/09/09 04:32*DJ Geithner: US Growth Slowed On European Crisis-Bloomberg TV
2010/09/09 04:31*DJ Geithner: Tax Breaks Would Affect Short-Term Job Growth-Bloomberg TV
2010/09/09 04:19*DJ Geithner: Unemployment 'Unacceptably High' -CNBC
2010/09/09 04:17*DJ Geithner: Will Take 'A While' To Dig Out Of Recession -CNBC
2010/09/09 04:16*DJ Geithner: US Recession Was 'Terribly Savage' -CNBC
2010/09/09 04:15*DJ Geithner: Targeting Tax-Breaks Approval In Coming Months -CNBC
2010/09/09 04:11*DJ Geithner: Tax Breaks For Small Businesses Highest Priority -CNBC
2010/09/09 04:07*DJ Nasdaq Closes Up 20 (0.9%) At 2229; Financials, Industrials Rise
2010/09/09 04:06*DJ DJIA Closes Up 46 (0.5%) At 10387; JP Morgan, Alcoa Lead
2010/09/09 04:02DJ OIL FUTURES: Crude Holds Gains After Fed Says US Economy Slows
2010/09/09 03:51DJ PRECIOUS METALS: Gold Declines A Bit But Remains Near Record
2010/09/09 02:34*DJ OIL FUTURES: Nymex Crude Settles Up 58c At $74.67/Bbl
2010/09/09 02:19*DJ Kocherlakota: Expects To See 8% Unemployment In 2012
2010/09/09 02:18*DJ Kocherlakota: Sees 2.5% GDP Gain 2H 2010, 3% Gain In 2011
2010/09/09 02:18*DJ Kocherlakota: Inflation Too Low Now, But It Will Rise To 1.5%-2%
2010/09/09 02:17*DJ Kocherlakota: Unemployment Rate Will Only Fall Gradually
2010/09/09 02:16*DJ Fed's Kocherlakota: High Unemployment Rate Tied To Labor Mkt Imbalances
2010/09/09 02:09*DJ OIL FUTURES: Crude Pares Gains On Fed Beige Book Release
2010/09/09 01:36*DJ EU Juncker: Not Easy To Discuss Currencies Within G-20
2010/09/09 01:21*DJ EU Juncker: Must Start Unwinding Stimulus Measures From 2011
2010/09/09 01:21*DJ EU Juncker: Must Prevent Imbalances Within Eurozone
2010/09/09 01:20*DJ EU Juncker: Eurozone Must Focus More On Internal Competitiveness
2010/09/09 00:57DJ BP Floats New Standards To Help Prevent Future Oil Spills
2010/09/09 00:51DJ Irish Govt To Split Anglo Irish Bank, Sell Some Assets
DUBLIN -Ireland's Finance Minister Brian Lenihan said Wednesday that nationalized lender Anglo Irish Bank Corp. will be split into a 'funding bank' that will continue to operate, and an 'asset recovery bank' that will be wholly or partly sold over a period time.'It is intended that in due course the recovery bank will be sold in whole or in part or that its assets will be run off over a period of time,' the Department of Finance said in a statement.The funding bank will be a government-backed/guaranteed specialist deposit bank which will contain the bank's deposit book. It will be a stand-alone, regulated bank, completely separated from Anglo's loan assets and it will be owned directly by the Minister for Finance.The funding bank won't engage in any lending, but will provide a 'secure home' for Anglo's depositors and any new customers who wish to deposit their funds with it, the Department of Finance added.The announcement is aimed at easing fears about the toll the bank's bailout--currently estimated at around EUR25 billion--will take on the economy and provide more clarity to this small, open economy's prolonged banking crisis. The Irish government said Anglo's restructuring costs would be announced by the Central Bank in October.'Today's decision by the government will provide certainty about the future of Anglo Irish Bank,' Lenihan said. 'Resolution of this, our most distressed institution, is essential to the promotion of confidence and stability in our financial system.'
2010/09/09 00:34*DJ OIL FUTURES: Crude Rallies, Helped By Rising Equities
2010/09/09 00:32*DJ OIL FUTURES: Nymex Crude Tops $75/Bbl
2010/09/09 00:12DJ French President: Won't Drop Plan To Raise Retirement Age
PARIS -French president Nicolas Sarkozy Wednesday said he refuses to drop plans to the raise retirement age to 62 from 60 despite protests and nationwide strikes against pension reforms Tuesday.The pension reform is 'crucial,' he said, according to the text of a speech during a cabinet meeting, adding that he understood the plan could raise concerns and that he was 'attentive' to protesters' worries.Raising the retirement age from 60 to 62 by 2018 is unavoidable, due to the current pension scheme deficit that needs to be financed, Sarkozy said.He stressed that he refused other solutions to fund the deficit, such as increasing taxes or cutting current pension payments.Protests against the pension revamp brought out more than a million demonstrators across the country. The protest, which was accompanied by strikes causing significant disruptions to the country's public services and transport system, was seen a major test of the government's resolve to push through structural reforms aimed to lower its public deficit.France is one of many European governments pushing through unpopular cuts to avoid a repeat of the sovereign debt crisis that rattled global investors earlier this year.
