Sabine Pass LNG Terminal
(Founder, General and Limited Partner)
The Sabine Pass LNG terminal is located on over 1,000 acres of land along the Sabine Pass River on the border between Texas and Louisiana, in Cameron Parish, Louisiana. It is located at the widest point on the Sabine River Navigation Channel, only 3.7 nautical miles from the open water and 23 nautical miles from the outer buoy. The channel is maintained at a depth of 40 feet and is not subject to tidal limitations. The terminal has two docks that are recessed far enough so that no part of the LNG vessel will protrude into the open waterway while docked.
Saturday, December 31, 2011
CNNMoney: European recovery? Wait till 2013 (at least)
http://money.cnn.com/2011/12/30/news/international/european_economic_problems/index.htm?iid=EAL
Europe's Debt Crisis
European recovery? Wait till 2013 (at least)
By Chris Isidore @CNNMoney December 30, 2011: 12:09 PM ET
NEW YORK (CNNMoney) -- Don't expect the economic problems dogging Europe to be solved any time soon. Economists sure don't.
Europe's Debt Crisis
European recovery? Wait till 2013 (at least)
By Chris Isidore @CNNMoney December 30, 2011: 12:09 PM ET
NEW YORK (CNNMoney) -- Don't expect the economic problems dogging Europe to be solved any time soon. Economists sure don't.
Thursday, December 29, 2011
Brookfield Asset Management Inc. ("Brookfield")
http://realestate.ipe.com/realestate/investment-manager-profile/brookfield-asset-management-inc-brookfield_5.php
Brookfield Asset Management Inc. ("Brookfield")
Brookfield Asset Management Inc. ("Brookfield")
Wednesday, December 28, 2011
CNNMoney: Foreclosure free ride: 3 years, no payments
http://money.cnn.com/2011/12/28/real_estate/foreclosure/index.htm?iid=Lead
Foreclosure free ride: 3 years, no payments
By Les Christie @CNNMoney December 28, 2011: 10:04 AM ET
NEW YORK (CNNMoney) -- Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight.
Foreclosure free ride: 3 years, no payments
By Les Christie @CNNMoney December 28, 2011: 10:04 AM ET
NEW YORK (CNNMoney) -- Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight.
CNNMoney: Economists a bit more optimistic
http://money.cnn.com/2011/12/28/news/economy/economists_outlook/index.htm
Economists a bit more optimistic
By Chris Isidore @CNNMoney December 28, 2011: 8:29 AM ET
NEW YORK (CNNMoney) -- Economists are a bit more optimistic about the U.S. economy as 2011 comes to a close. But only a bit.
Economists a bit more optimistic
By Chris Isidore @CNNMoney December 28, 2011: 8:29 AM ET
NEW YORK (CNNMoney) -- Economists are a bit more optimistic about the U.S. economy as 2011 comes to a close. But only a bit.
Tuesday, December 27, 2011
CNNMoney: Home prices down for 6th straight month
http://money.cnn.com/2011/12/27/real_estate/home_prices/index.htm?iid=HP_River
Home prices down for 6th straight month
By Les Christie @CNNMoney December 27, 2011: 11:42 AM ET
NEW YORK (CNNMoney) -- Home prices fell for the sixth straight month in October, down 1.2% compared with September and 3.4% a year ago, according to the latest S&P/Case-Shiller 20-city index.
Home prices down for 6th straight month
By Les Christie @CNNMoney December 27, 2011: 11:42 AM ET
NEW YORK (CNNMoney) -- Home prices fell for the sixth straight month in October, down 1.2% compared with September and 3.4% a year ago, according to the latest S&P/Case-Shiller 20-city index.
The 11 Top Biofuels Trends of 2011
The 11 Top Biofuels Trends of 2011
Jim Lane | December 27, 2011
It’s that holiday time, time to look-back with misty eyes at the glories of yesteryear. In our case, at the 11 Hottest Trends of 2011, in what proved to be a vintage year for biofuels. There were IPOs a go-go, a big comeback from biodiesel. The global ethanol fleet has acquired new popularity amongst advanced biofuels developers looking for capital light steel in the ground. Meanwhile, gasification got hot. Seemed like every algae venture headed for Algstralia, and Brazil and the US Navy became everyone’s new best friends.
Jim Lane | December 27, 2011
It’s that holiday time, time to look-back with misty eyes at the glories of yesteryear. In our case, at the 11 Hottest Trends of 2011, in what proved to be a vintage year for biofuels. There were IPOs a go-go, a big comeback from biodiesel. The global ethanol fleet has acquired new popularity amongst advanced biofuels developers looking for capital light steel in the ground. Meanwhile, gasification got hot. Seemed like every algae venture headed for Algstralia, and Brazil and the US Navy became everyone’s new best friends.
Sunday, December 25, 2011
Will biofuel produced from algae power the future?
Will biofuel produced from algae power the future?
12.Radhicka S SaxenaDec 24 2011.The race to produce sustainable biofuel
With the demand for alternative fuels on the rise, engendered mainly by the ballooning prices of fossil fuels, there is an inherent need to manufacture algae based biofuels commercially by bringing down the input cost of production. As they are environmentally friendly, biofuels are greatly preferred over fossil fuels for energy production. Biofuels can be produced using both algae and food crops, but owing to many reasons it is a good idea to not use the latter for their production.
12.Radhicka S SaxenaDec 24 2011.The race to produce sustainable biofuel
With the demand for alternative fuels on the rise, engendered mainly by the ballooning prices of fossil fuels, there is an inherent need to manufacture algae based biofuels commercially by bringing down the input cost of production. As they are environmentally friendly, biofuels are greatly preferred over fossil fuels for energy production. Biofuels can be produced using both algae and food crops, but owing to many reasons it is a good idea to not use the latter for their production.
 |
| Biofuel produced from algae |
Friday, December 23, 2011
WSJ: Risks Cloud Outlook for Economy in 2012
ECONOMY DECEMBER 23, 2011
Risks Cloud Outlook for Economy in 2012
By CONOR DOUGHERTY
The U.S. economy is poised for another year of muddling through.
Most private economists forecast a modest 2% growth rate for the U.S. in 2012, with a pace subdued by housing woes, a lackluster job market, and cuts by government. Economists also warn of potential spillover from weakness abroad, including a mild recession apparently under way in Europe.
Risks Cloud Outlook for Economy in 2012
By CONOR DOUGHERTY
The U.S. economy is poised for another year of muddling through.
Most private economists forecast a modest 2% growth rate for the U.S. in 2012, with a pace subdued by housing woes, a lackluster job market, and cuts by government. Economists also warn of potential spillover from weakness abroad, including a mild recession apparently under way in Europe.
Wednesday, December 21, 2011
USA Today: Nov. home sales up 4%, but earlier sales revised down
USATODAYmoney: Nov. home sales up 4%, but earlier sales revised down http://t.co/ON9gZVFG
Original Tweet: http://twitter.com/USATODAYmoney/status/149519203878187008
Nov. home sales up 4%, but earlier sales revised down
By Derek Kravitz, Associated Press
WASHINGTON – The number of Americans who bought previously occupied homes rose last month. But the National Association of Realtors says it overstated about 3.5 million sales during and after the Great Recession, showing the housing market remains much weaker than previously thought.
Original Tweet: http://twitter.com/USATODAYmoney/status/149519203878187008
Nov. home sales up 4%, but earlier sales revised down
By Derek Kravitz, Associated Press
WASHINGTON – The number of Americans who bought previously occupied homes rose last month. But the National Association of Realtors says it overstated about 3.5 million sales during and after the Great Recession, showing the housing market remains much weaker than previously thought.
CNNMoney: Foreclosure sales still pummeling home prices
Foreclosure sales still pummeling home prices
By Les Christie @CNNMoney December 21, 2011: 10:15 AM ET
NEW YORK (CNNMoney) -- Nearly five years into the crisis, foreclosures are still weighing heavily on home prices.
By Les Christie @CNNMoney December 21, 2011: 10:15 AM ET
NEW YORK (CNNMoney) -- Nearly five years into the crisis, foreclosures are still weighing heavily on home prices.
Tuesday, December 20, 2011
USA Today: Europe hopes, strong housing starts lift stocks
USATODAYmoney: Europe hopes, housing starts lift stocks http://t.co/vF0UJARM
Original Tweet: http://twitter.com/USATODAYmoney/status/149228143465598976
Europe hopes, strong housing starts lift stocks
By Matthew Craft, Associated Press
NEW YORK – The Dow Jones industrial average surged 337 points following encouraging signs out of Europe and a jump in apartment construction in the U.S. It was the best day for U.S. stocks this month.
Original Tweet: http://twitter.com/USATODAYmoney/status/149228143465598976
Europe hopes, strong housing starts lift stocks
By Matthew Craft, Associated Press
NEW YORK – The Dow Jones industrial average surged 337 points following encouraging signs out of Europe and a jump in apartment construction in the U.S. It was the best day for U.S. stocks this month.
Monday, December 19, 2011
Is Algae-based Biofuel an Energy Game Changer?
Is Algae-based Biofuel an Energy Game Changer?
Author: Devon Bass
Published: December 19, 2011 at 10:26 am
Algae is one surprising potential energy source that is showing great promise. It has gained recent media attention as the U.S Navy has announced plans to test the use of algae biofuel in one of its cargo ships. Unlike oil which is only found in underground deposits in certain parts of the world, algae grows in abundance all over the globe. Approximately half of algae’s weight is comprised of lipid oil can be converted into biodiesel. Biodiesel burns more cleanly and efficiently than petroleum.
Author: Devon Bass
Published: December 19, 2011 at 10:26 am
Algae is one surprising potential energy source that is showing great promise. It has gained recent media attention as the U.S Navy has announced plans to test the use of algae biofuel in one of its cargo ships. Unlike oil which is only found in underground deposits in certain parts of the world, algae grows in abundance all over the globe. Approximately half of algae’s weight is comprised of lipid oil can be converted into biodiesel. Biodiesel burns more cleanly and efficiently than petroleum.
Monday, December 12, 2011
NYT: Pondering a Dire Day: Leaving the Euro
Pondering a Dire Day: Leaving the Euro
By LANDON THOMAS Jr.
Published: December 12, 2011
LONDON — It would be Europe’s worst nightmare: after weeks of rumors, the Greek prime minister announces late on a Saturday night that the country will abandon the euro currency and return to the drachma.
By LANDON THOMAS Jr.
Published: December 12, 2011
LONDON — It would be Europe’s worst nightmare: after weeks of rumors, the Greek prime minister announces late on a Saturday night that the country will abandon the euro currency and return to the drachma.
WSJ: Turkish Prices Rise on Rapid Growth
WSJEconomy: Turkish Economy Booms http://t.co/LFukQXXu
Original Tweet: http://twitter.com/WSJEconomy/status/146272574211493888
EUROPE NEWS DECEMBER 13, 2011
Turkish Prices Rise on Rapid Growth
By JOE PARKINSON
ISTANBUL—Turkey's central bank governor warned Monday that inflation was his No.1 problem, as data confirmed the economy expanded 8.2% in the third quarter, smashing economists' expectations and underscoring its reputation as Eurasia's rising tiger.
Original Tweet: http://twitter.com/WSJEconomy/status/146272574211493888
EUROPE NEWS DECEMBER 13, 2011
Turkish Prices Rise on Rapid Growth
By JOE PARKINSON
ISTANBUL—Turkey's central bank governor warned Monday that inflation was his No.1 problem, as data confirmed the economy expanded 8.2% in the third quarter, smashing economists' expectations and underscoring its reputation as Eurasia's rising tiger.
Friday, December 9, 2011
CNNMoney: Europe debt saga far from over
CNNMoney: Europe debt saga far from over... http://t.co/2CMXdHN3 #eurozone
Original Tweet: http://twitter.com/CNNMoney/status/146170643547815936
Europe's Debt Crisis
Europe debt saga far from over
By Ben Rooney @CNNMoneyMarkets December 9, 2011: 3:36 PM ET
NEW YORK (CNNMoney) -- Early Friday morning, a group of European politicians issued a statement, and knees jerked in financial markets around the world.
Original Tweet: http://twitter.com/CNNMoney/status/146170643547815936
Europe's Debt Crisis
Europe debt saga far from over
By Ben Rooney @CNNMoneyMarkets December 9, 2011: 3:36 PM ET
NEW YORK (CNNMoney) -- Early Friday morning, a group of European politicians issued a statement, and knees jerked in financial markets around the world.
CNNMoney: At European banks, the fire sale continues
CNNMoney: RT @FortuneMagazine: At European banks, the fire sale continues. Hedge funds are willing to take a gamble http://t.co/J4auEuUm
Original Tweet: http://twitter.com/CNNMoney/status/146238707505176577
At European banks, the fire sale continues
December 9, 2011: 11:39 AM ET
Big European banks, under pressure to sell assets and shrink their balance sheets, won a victory in the latest deal to save the euro. But they still have a long way to go.
By Cyrus Sanati, contributor
FORTUNE -- Even as European leaders convened this week an emergency summit to save the euro, European banks were busy trying to offload trillions of euros worth of assets in a bid to slim down. But while the banks may appear desperate to sell in order to fortify their balance sheets and comply with new capital restrictions, they don't seem willing to take a bath on their performing assets just yet, frustrating willing buyers hunting for an easy deal.
Original Tweet: http://twitter.com/CNNMoney/status/146238707505176577
At European banks, the fire sale continues
December 9, 2011: 11:39 AM ET
Big European banks, under pressure to sell assets and shrink their balance sheets, won a victory in the latest deal to save the euro. But they still have a long way to go.
By Cyrus Sanati, contributor
FORTUNE -- Even as European leaders convened this week an emergency summit to save the euro, European banks were busy trying to offload trillions of euros worth of assets in a bid to slim down. But while the banks may appear desperate to sell in order to fortify their balance sheets and comply with new capital restrictions, they don't seem willing to take a bath on their performing assets just yet, frustrating willing buyers hunting for an easy deal.
Thursday, December 8, 2011
Deutsche Bank to sell £210m CMBS on Westfield’s Merry Hill
Deutsche Bank to sell £210m CMBS on Westfield’s Merry Hill
Posted on December 8, 2011 3:26 pm by James Wallace
Deutsche Bank will bring a £210m single loan commercial mortgage-backed securitisation (CMBS) to the market in January, secured by the £1bn Westfield Merry Hill shopping centre on the outskirts of Dudley.
http://costarfinance.com/2011/12/08/deutsche-bank-to-sell-210m-cmbs-on-westfields-merry-hill/
Posted on December 8, 2011 3:26 pm by James Wallace
Deutsche Bank will bring a £210m single loan commercial mortgage-backed securitisation (CMBS) to the market in January, secured by the £1bn Westfield Merry Hill shopping centre on the outskirts of Dudley.
http://costarfinance.com/2011/12/08/deutsche-bank-to-sell-210m-cmbs-on-westfields-merry-hill/
Wednesday, December 7, 2011
Bloomberg: Global Poll Predicts U.S. Economy Rebounding
Global Poll Predicts U.S. Economy Rebounding
By Rich Miller - 2011.12.06 09:00 PM
The U.S. receives its highest rating from international investors in more than two years on new optimism that the world’s largest economy will weather the financial crisis in Europe and avoid a recession in 2012, according to a Bloomberg poll.
By Rich Miller - 2011.12.06 09:00 PM
The U.S. receives its highest rating from international investors in more than two years on new optimism that the world’s largest economy will weather the financial crisis in Europe and avoid a recession in 2012, according to a Bloomberg poll.
Tuesday, December 6, 2011
Bloomberg: Australia Economy Grows More Than Forecast
Bloomberg: Australia Economy Grows More Than Forecast
By Michael Heath - 2011.12.06 07:02 PM
Australia’s economy grew faster than estimated last quarter on consumer spending and mining-driven investment, spurring the local currency as investors pared bets on the pace of interest-rate cuts next year.
By Michael Heath - 2011.12.06 07:02 PM
Australia’s economy grew faster than estimated last quarter on consumer spending and mining-driven investment, spurring the local currency as investors pared bets on the pace of interest-rate cuts next year.
USA Today: Geithner 'encouraged' by fiscal progress in Europe
USATODAYmoney: Geithner 'encouraged' by progress in Europe http://t.co/PvrwsOZG
Original Tweet: http://twitter.com/USATODAYmoney/status/144129293042188288
Dec 06, 2011
Geithner 'encouraged' by fiscal progress in Europe
By Richard Wolf, USA TODAY
2011.12.06 12:38 PM
As he hopscotches from Germany to France to Italy this week, Treasury Secretary Timothy Geithner sounds upbeat about the prospects of Europe surmounting a debt crisis that threatens the U.S. economy as well.
Original Tweet: http://twitter.com/USATODAYmoney/status/144129293042188288
Dec 06, 2011
Geithner 'encouraged' by fiscal progress in Europe
By Richard Wolf, USA TODAY
2011.12.06 12:38 PM
As he hopscotches from Germany to France to Italy this week, Treasury Secretary Timothy Geithner sounds upbeat about the prospects of Europe surmounting a debt crisis that threatens the U.S. economy as well.
Bloomberg: Drop in U.S. Jobless Rate Sign of Demo Shift
http://www.bloomberg.com/news/2011-12-06/drop-in-u-s-unemployment-rate-early-sign-of-coming-labor-shift-economy.html
Drop in U.S. Jobless Rate Sign of Demo Shift
By Shobhana Chandra - 2011.12.06 06:54 AM
The drop in U.S. unemployment so far this year may be an early glimpse of what’s to come as the workforce ages.
Drop in U.S. Jobless Rate Sign of Demo Shift
By Shobhana Chandra - 2011.12.06 06:54 AM
The drop in U.S. unemployment so far this year may be an early glimpse of what’s to come as the workforce ages.
Deals of the Week: Asian Asset Grab Intensified in North America
Evaluate Energy
Deals of the Week: Asian Asset Grab Intensified in North America
Government backed Asian companies made further moves for global oil and gas resources this week, with the target areas ranging from Canada and the United States to Australia. The largest deal came from INPEX Corp, who signed a $700 million transaction with Nexen to farm-in to a portfolio of assets primarily focused on the Horn River play of British Columbia in Canada. The Canadian shale gas sector has seen a flurry of deals lately from Asia, which is being driven by the low current gas reserve prices in North America and the development of LNG export terminals on the west coast of the country, ideal for serving the Asian markets. The deal will involve INPEX paying half of the consideration up front and half in the form of a cost carry to receive a 40% share of 300,000 acres of land in the Horn River, Cordova and Liard plays.
Deals of the Week: Asian Asset Grab Intensified in North America
Government backed Asian companies made further moves for global oil and gas resources this week, with the target areas ranging from Canada and the United States to Australia. The largest deal came from INPEX Corp, who signed a $700 million transaction with Nexen to farm-in to a portfolio of assets primarily focused on the Horn River play of British Columbia in Canada. The Canadian shale gas sector has seen a flurry of deals lately from Asia, which is being driven by the low current gas reserve prices in North America and the development of LNG export terminals on the west coast of the country, ideal for serving the Asian markets. The deal will involve INPEX paying half of the consideration up front and half in the form of a cost carry to receive a 40% share of 300,000 acres of land in the Horn River, Cordova and Liard plays.
Friday, December 2, 2011
Family Feud (Bill Gross, PIMCO)
Family Feud
Bill Gross, PIMCO
2012.12.02
- Investors should recognize that Euroland’s problems are global and secular in nature; it will be years before Euroland and developed nations in total can constructively escape from their straitjacket of debt.
- Global growth will likely remain stunted, interest rates artificially low and investors continually disenchanted with returns that fail to match expectations.
- Investors should consider risk assets in emerging economies, such as Brazil and Asia, and bonds in the strongest developed economies, where the steep yield curve may offer opportunities for capital gains and potentially higher total returns.
Bill Gross, PIMCO
2012.12.02
- Investors should recognize that Euroland’s problems are global and secular in nature; it will be years before Euroland and developed nations in total can constructively escape from their straitjacket of debt.
- Global growth will likely remain stunted, interest rates artificially low and investors continually disenchanted with returns that fail to match expectations.
- Investors should consider risk assets in emerging economies, such as Brazil and Asia, and bonds in the strongest developed economies, where the steep yield curve may offer opportunities for capital gains and potentially higher total returns.
CNNMoney: November jobs report: Hiring up, unemployment down
http://money.cnn.com/2011/12/02/news/economy/jobs_report_unemployment/
America's Jobs Crisis
November jobs report: Hiring up, unemployment down
By Annalyn Censky @CNNMoney December 2, 2011: 2:43 PM ET
WASHINGTON (CNNMoney) -- Hiring accelerated in November, and unemployment unexpectedly plummeted to its lowest rate in nearly three years.
America's Jobs Crisis
November jobs report: Hiring up, unemployment down
By Annalyn Censky @CNNMoney December 2, 2011: 2:43 PM ET
WASHINGTON (CNNMoney) -- Hiring accelerated in November, and unemployment unexpectedly plummeted to its lowest rate in nearly three years.
VOA: UN Grim on World Economic Prospects for 2012
December 01, 2011
UN Grim on World Economic Prospects for 2012
Margaret Besheer | United Nations
United Nations economists have sharply cut their projections for world growth and warned that 2012 will be key to whether the global economy makes a slow recovery or falls back into recession.
UN Grim on World Economic Prospects for 2012
Margaret Besheer | United Nations
United Nations economists have sharply cut their projections for world growth and warned that 2012 will be key to whether the global economy makes a slow recovery or falls back into recession.
Wednesday, November 30, 2011
USA Today: Dow up 490 points: Stocks soar after central banks' moves
USATODAYmoney: Fed, other central banks act to ease strains in world markets http://t.co/ZYjpc6gQ
Original Tweet: http://twitter.com/USATODAYmoney/status/141876452038676480
Dow up 490 points: Stocks soar after central banks' moves
By Gary Strauss, Adam Shell and Matt Krantz, USA TODAY
2011.11.30 03:23 PM
Stocks soared Wednesday after central banks around the world agreed to pump more liquidity into European banks, an effort designed to loosen credit and stimulate economic growth in Europe and prevent its debt crisis from unhinging the global economy.
Original Tweet: http://twitter.com/USATODAYmoney/status/141876452038676480
Dow up 490 points: Stocks soar after central banks' moves
By Gary Strauss, Adam Shell and Matt Krantz, USA TODAY
2011.11.30 03:23 PM
Stocks soared Wednesday after central banks around the world agreed to pump more liquidity into European banks, an effort designed to loosen credit and stimulate economic growth in Europe and prevent its debt crisis from unhinging the global economy.
USA Today: Europe crisis could affect trade for Asia, Africa
USA Today: Europe crisis could affect trade for Asia, Africa
By Kathy Chu, USA TODAY
2011.11.30 02:54 PM
HONG KONG – As European banks reduce international lending, it's hurting importers and exporters in Asia, Africa and Latin America, and raising fears of a trade-crippling global credit crunch.
By Kathy Chu, USA TODAY
2011.11.30 02:54 PM
HONG KONG – As European banks reduce international lending, it's hurting importers and exporters in Asia, Africa and Latin America, and raising fears of a trade-crippling global credit crunch.
USA Today: Homebuying contracts hit highest level in a year in Oct.
Homebuying contracts hit highest level in a year in Oct.
By Derek Kravitz, Associated Press
2011.11.30 01:14 PM
WASHINGTON – The number of Americans who signed contracts to buy homes jumped in October to the highest level in a year. But the gain follows three months of declines and isn't enough to signal a housing recovery.
By Derek Kravitz, Associated Press
2011.11.30 01:14 PM
WASHINGTON – The number of Americans who signed contracts to buy homes jumped in October to the highest level in a year. But the gain follows three months of declines and isn't enough to signal a housing recovery.
CNNMoney: Job reports paint positive picture before U.S. data
America's Jobs Crisis
Job reports paint positive picture before U.S. data
By James O'Toole and Aaron Smith @CNNMoney November 30, 2011: 2:27 PM ET
NEW YORK (CNNMoney) -- Private-sector payrolls surged and planned job cuts eased in November, indicating some improvement in the job market and raising hopes for the government employment report due later this week.
Job reports paint positive picture before U.S. data
By James O'Toole and Aaron Smith @CNNMoney November 30, 2011: 2:27 PM ET
NEW YORK (CNNMoney) -- Private-sector payrolls surged and planned job cuts eased in November, indicating some improvement in the job market and raising hopes for the government employment report due later this week.
CNNMoney: China steps on the economic accelerator
CNNMoney: China steps on the economic accelerator http://t.co/CDVWXjH3
Original Tweet: http://twitter.com/CNNMoney/status/141885024181026816
China steps on the economic accelerator
By Aaron Smith @CNNMoney November 30, 2011: 10:48 AM ET
NEW YORK (CNNMoney) -- China is cutting the amount of money banks need to hold in reserve, freeing those funds to stimulate the Chinese economy.
Original Tweet: http://twitter.com/CNNMoney/status/141885024181026816
China steps on the economic accelerator
By Aaron Smith @CNNMoney November 30, 2011: 10:48 AM ET
NEW YORK (CNNMoney) -- China is cutting the amount of money banks need to hold in reserve, freeing those funds to stimulate the Chinese economy.
Tuesday, November 29, 2011
Bloomberg: Home Prices in 20 U.S. Cities Fall More Than Forecast, Case-Shiller Says
Home Prices in 20 U.S. Cities Fall More Than Forecast, Case-Shiller Says
By Alex Kowalski - 2011.11.29 06:18 AM
Residential real estate prices dropped more than forecast in the year ended September, showing the industry at the center of the 2008 financial crisis continues to struggle.
By Alex Kowalski - 2011.11.29 06:18 AM
Residential real estate prices dropped more than forecast in the year ended September, showing the industry at the center of the 2008 financial crisis continues to struggle.
Reuters: Insight: In euro zone crisis, companies plan for the unthinkable
Insight: In euro zone crisis, companies plan for the unthinkable
By Ben Hirschler and Scott Malone
LONDON/BOSTON | Tue Nov 29, 2011 5:30pm EST
(Reuters) - When Novo Nordisk's chief financial officer met marketing colleagues last Friday the conversation moved far beyond the usual discussion of sales and performance. Jesper Brandgaard asked a simple, far-reaching question: how would the firm set prices for two pivotal new insulin products if the euro collapsed?
By Ben Hirschler and Scott Malone
LONDON/BOSTON | Tue Nov 29, 2011 5:30pm EST
(Reuters) - When Novo Nordisk's chief financial officer met marketing colleagues last Friday the conversation moved far beyond the usual discussion of sales and performance. Jesper Brandgaard asked a simple, far-reaching question: how would the firm set prices for two pivotal new insulin products if the euro collapsed?
CNNMoney: A French downgrade could derail eurozone rescue
Europe's Debt Crisis
A French downgrade could derail eurozone rescue
By Ben Rooney @CNNMoneyMarketsNovember 29, 2011: 4:40 PM ET
NEW YORK (CNNMoney) -- In what would be another blow to Europe's beleaguered rescue fund, there is growing speculation that France will eventually lose its top-tier credit rating.
A French downgrade could derail eurozone rescue
By Ben Rooney @CNNMoneyMarketsNovember 29, 2011: 4:40 PM ET
NEW YORK (CNNMoney) -- In what would be another blow to Europe's beleaguered rescue fund, there is growing speculation that France will eventually lose its top-tier credit rating.
Tesco pension fund has appetite for non-core real estate strategies
Real Estate News
Tesco pension fund has appetite for non-core real estate strategies
28 November 2011
UK - Jenny Buck, the newly appointed head of property at the Tesco pension fund, will target higher returns by investing outside core real estate.
Tesco pension fund has appetite for non-core real estate strategies
28 November 2011
UK - Jenny Buck, the newly appointed head of property at the Tesco pension fund, will target higher returns by investing outside core real estate.
Monday, November 28, 2011
SG: Eco Analysis - US Housing: New home sales rose modestly in October (B. Jones)
Eco Analysis - US Housing: New home sales rose modestly in October (B. Jones)
■ Closings on newly constructed dwellings moved higher in October
The number of newly constructed dwellings going to contract rose by 1.3% to a five-month high seasonally adjusted annual rate of 307,000 in October. The reported level of activity last month was below both our (330,000) and the median Street projections (315,000), however. Moreover, back-month revisions shaved 15,000 off the previously posted tallies for July through September.
■ Closings on newly constructed dwellings moved higher in October
The number of newly constructed dwellings going to contract rose by 1.3% to a five-month high seasonally adjusted annual rate of 307,000 in October. The reported level of activity last month was below both our (330,000) and the median Street projections (315,000), however. Moreover, back-month revisions shaved 15,000 off the previously posted tallies for July through September.
Sunday, November 27, 2011
Perspectives on e-commerce: demystifying distribution site selection (JLL)
Perspectives on e-commerce: demystifying distribution site selection
Internet—and now, mobile phone—commerce are growing over twice as fast as store retailing.
View report
Resource Insights: Why isn't the Keystone pipeline extension going to eastern Canada?
Resource Insights
Why isn't the Keystone pipeline extension going to eastern Canada?
So much of the discussion surrounding an extension of the existing Keystone oil pipeline system which spans Canada and the United States assumes that the growing production of bitumen (it's not really oil) from the Canadian tar sands is either going to the United States or to China. But the following question ought to be an obvious one to anyone who knows that Canada imports 43 percent of the oil it consumes: Why isn't there any discussion of a new pipeline to eastern Canada where most of the oil consumed is imported?
Why isn't the Keystone pipeline extension going to eastern Canada?
So much of the discussion surrounding an extension of the existing Keystone oil pipeline system which spans Canada and the United States assumes that the growing production of bitumen (it's not really oil) from the Canadian tar sands is either going to the United States or to China. But the following question ought to be an obvious one to anyone who knows that Canada imports 43 percent of the oil it consumes: Why isn't there any discussion of a new pipeline to eastern Canada where most of the oil consumed is imported?
Thursday, November 24, 2011
WSJ: Euro-Zone Activity in Decline
From http://online.wsj.com/
EUROPE BUSINESS NEWS
NOVEMBER 24, 2011
Euro-Zone Activity in Decline
By PAUL HANNON
LONDON—The euro-zone economy seems set for a contraction in the final three months of this year as the turmoil in government bond markets takes its toll on credit availability and consumer and business confidence.
EUROPE BUSINESS NEWS
NOVEMBER 24, 2011
Euro-Zone Activity in Decline
By PAUL HANNON
LONDON—The euro-zone economy seems set for a contraction in the final three months of this year as the turmoil in government bond markets takes its toll on credit availability and consumer and business confidence.
Tuesday, November 22, 2011
Bloomberg: Pimco’s El-Erian Says U.S. Economic Setting ‘Terrifying’
From http://www.bloomberg.com/
Pimco’s El-Erian Says U.S. Economic Setting ‘Terrifying’
By Cordell Eddings and Betty Liu - 2011.11.22 07:20 PM
Pacific Investment Management Co.’s Chief Executive Officer Mohamed A. El-Erian said U.S. economic conditions are “terrifying” as the nation struggles to recover from recession.
Pimco’s El-Erian Says U.S. Economic Setting ‘Terrifying’
By Cordell Eddings and Betty Liu - 2011.11.22 07:20 PM
Pacific Investment Management Co.’s Chief Executive Officer Mohamed A. El-Erian said U.S. economic conditions are “terrifying” as the nation struggles to recover from recession.
SG: Eco Analysis - US 3Q GDP: Slower growth, but a better mix (B. Jones)
Eco Analysis - US 3Q GDP: Slower growth, but a better mix (B. Jones)
2011.11.22 07:09 AM
■ The Bureau of Economic Analysis pared Q3 GDP growth from 2.5% to 2.0%
Although the headline figure was a touch weaker than our projection (2.2%), the composition of this morning's report was pretty much in line with our thinking. All of the downward adjustment to Q3 GDP could be explained by a larger drag from inventories during the reference period. In contrast to the earlier-reported $5.4-billion build, the real level of stocks actually contracted by $8.5 billion, knocking an additional 0.47 percentage point off Q3 growth. Real final sales advanced at an annualized pace of 3.6%, unchanged from the advance report, as a narrower trade gap was countered by marginally weaker consumer and investment spending. After adjusting for the smaller external deficit, the net contribution to Q3 growth attributable to domestic demand was trimmed by about ¼ percentage point to 3.06%.
2011.11.22 07:09 AM
■ The Bureau of Economic Analysis pared Q3 GDP growth from 2.5% to 2.0%
Although the headline figure was a touch weaker than our projection (2.2%), the composition of this morning's report was pretty much in line with our thinking. All of the downward adjustment to Q3 GDP could be explained by a larger drag from inventories during the reference period. In contrast to the earlier-reported $5.4-billion build, the real level of stocks actually contracted by $8.5 billion, knocking an additional 0.47 percentage point off Q3 growth. Real final sales advanced at an annualized pace of 3.6%, unchanged from the advance report, as a narrower trade gap was countered by marginally weaker consumer and investment spending. After adjusting for the smaller external deficit, the net contribution to Q3 growth attributable to domestic demand was trimmed by about ¼ percentage point to 3.06%.
Monday, November 21, 2011
Chile's mining industry
http://www.economist.com/blogs/americasview/2011/11/chiles-mining-industry
Chile's mining industry
Good copper bad copper
Nov 21st 2011, 22:39 by G.L. | SUR POINT
CHILEAN business has historically been a cosy, clubby world, where deals are sealed with a handshake in social settings. However, now that the price of copper, the country's chief export, has reached record highs, Chile is getting a taste of proper corporate drama.
Chile's mining industry
Good copper bad copper
Nov 21st 2011, 22:39 by G.L. | SUR POINT
CHILEAN business has historically been a cosy, clubby world, where deals are sealed with a handshake in social settings. However, now that the price of copper, the country's chief export, has reached record highs, Chile is getting a taste of proper corporate drama.
USA Today: Economists forecast modest growth for next year
From http://www.usatoday.com/
Economists forecast modest growth for next year
By Martin Crutsinger, Associated Press
The U.S. economy will muddle through the next year without a recession, but growth will be too weak to make much of a dent in the unemployment rate, according to the latest nationwide survey of economic forecasters.
Economists forecast modest growth for next year
By Martin Crutsinger, Associated Press
The U.S. economy will muddle through the next year without a recession, but growth will be too weak to make much of a dent in the unemployment rate, according to the latest nationwide survey of economic forecasters.
USA Today: Existing home sales up 1.4%, still at depressed levels
Existing home sales up 1.4%, still at depressed levels
By Derek Kravitz, Associated Press
2011.11.21 10:03 AM
WASHINGTON – The number of Americans who bought previously occupied homes rose slightly last month but remained at depressed levels. And more deals are being canceled at the last minute, a sign that even those who are looking to buy are worried about the housing market.
By Derek Kravitz, Associated Press
2011.11.21 10:03 AM
WASHINGTON – The number of Americans who bought previously occupied homes rose slightly last month but remained at depressed levels. And more deals are being canceled at the last minute, a sign that even those who are looking to buy are worried about the housing market.
CNNMoney: In Spain, new leadership, same problems
In Spain, new leadership, same problems
November 21, 2011: 10:50 AM ET
Spain is in no immediate danger of going bust. But as its economy shrinks and its banks start to crumble, Spain will look more like its spendthrift southern European neighbor, Greece.
November 21, 2011: 10:50 AM ET
Spain is in no immediate danger of going bust. But as its economy shrinks and its banks start to crumble, Spain will look more like its spendthrift southern European neighbor, Greece.
SG: Eco Analysis - Forecast Update: Home resales posted smaller decline in Oct (B. Jones)
Eco Analysis - Forecast Update: Home resales posted smaller decline in Oct (B. Jones)
2011.11.21 06:35 AM
■ Available data from state realtor associations suggest resales slipped to 4.85 million
In contrast to our previously published call for a 3.1% drop to a three-month low seasonally adjusted annual rate of 4.76 million, the number of homes closed likely dipped by just 1.2% to an above-consensus 4.85 million.
2011.11.21 06:35 AM
■ Available data from state realtor associations suggest resales slipped to 4.85 million
In contrast to our previously published call for a 3.1% drop to a three-month low seasonally adjusted annual rate of 4.76 million, the number of homes closed likely dipped by just 1.2% to an above-consensus 4.85 million.
Sunday, November 20, 2011
Design Centre Chelsea Harbor
Design Centre Chelsea Harbor
Everything you ever wished for your apartment and even more.
Even if you are not planning on buying design furniture or Italian tiles for your bathroom, Design Centre Chelsea Harbor is well worth visiting.
http://www.lomography.com/magazine/locations/2011/11/20/design-centre-chelsea-harbor
A dazzling space for 90 showrooms and over 500 international interior brands. At over 90,000 square feet, it is the largest of its kind in Europe and well-established as a leading design destination. Design Centre occupies three huge glass domes – south, central and north. The space is cleverly decorated with huge pots of trees and orchids, and the installations coming from the dome ceilings are always changing. One time it could be figures of the geese, another time, shining black fish with disco balls.
There is an amazing book store right by the entrance- RIBA Bookshop where you can come to keep up to date with all the latest trends. There are two coffee shops here as well.
Apart from just selling interior design products, Design Centre runs ‘Focus’, which gives great access to everything new, not only to trade specialists but to the general public, before it reaches the stores’ shelves. They also take part in London Design Week by running free seminars, lectures, and master classes.
After you are done with Versace sofas and all that stuff, go and have a walk around the Chelsea harbor itself. Built in the late 1980s it contains luxury apartments, a 5-star home named Wyndham Grand surrounding a small marina with beautiful yachts and boats.
Perfect place for “Lomography-ing”, in my opinion.
Design Centre Chelsea Harbour
Lots Road
London
SW10 0XE
Closest tube station is Fulham Broadway. Can also be reached via Imperial Wharf overground station.
http://www.dcch.co.uk/
written by neja
http://www.lomography.com/magazine/locations/2011/11/20/design-centre-chelsea-harbor
Everything you ever wished for your apartment and even more.
Even if you are not planning on buying design furniture or Italian tiles for your bathroom, Design Centre Chelsea Harbor is well worth visiting.
http://www.lomography.com/magazine/locations/2011/11/20/design-centre-chelsea-harbor
A dazzling space for 90 showrooms and over 500 international interior brands. At over 90,000 square feet, it is the largest of its kind in Europe and well-established as a leading design destination. Design Centre occupies three huge glass domes – south, central and north. The space is cleverly decorated with huge pots of trees and orchids, and the installations coming from the dome ceilings are always changing. One time it could be figures of the geese, another time, shining black fish with disco balls.
There is an amazing book store right by the entrance- RIBA Bookshop where you can come to keep up to date with all the latest trends. There are two coffee shops here as well.
Apart from just selling interior design products, Design Centre runs ‘Focus’, which gives great access to everything new, not only to trade specialists but to the general public, before it reaches the stores’ shelves. They also take part in London Design Week by running free seminars, lectures, and master classes.
After you are done with Versace sofas and all that stuff, go and have a walk around the Chelsea harbor itself. Built in the late 1980s it contains luxury apartments, a 5-star home named Wyndham Grand surrounding a small marina with beautiful yachts and boats.
Perfect place for “Lomography-ing”, in my opinion.
Design Centre Chelsea Harbour
Lots Road
London
SW10 0XE
Closest tube station is Fulham Broadway. Can also be reached via Imperial Wharf overground station.
http://www.dcch.co.uk/
written by neja
http://www.lomography.com/magazine/locations/2011/11/20/design-centre-chelsea-harbor
Thursday, November 17, 2011
S&P: U.S. Real Estate: Stable, But Susceptible To Economic Shock
U.S. Real Estate: Stable, But Susceptible To Economic Shock (00:06:50 min)
Although Standard & Poor’s believes that the U.S. residential and commercial real estate sectors have bottomed out, companies will remain vulnerable to economic shocks--especially homebuilders. Real estate investment trusts (REITs) are well-positioned, but growth in the sector will be muted. In this CreditMatters TV segment, Managing Director Lisa Sarajian looks at the trends shaping both sectors. Topics include single-family home sales and starts trends, and REIT earnings performance.
Although Standard & Poor’s believes that the U.S. residential and commercial real estate sectors have bottomed out, companies will remain vulnerable to economic shocks--especially homebuilders. Real estate investment trusts (REITs) are well-positioned, but growth in the sector will be muted. In this CreditMatters TV segment, Managing Director Lisa Sarajian looks at the trends shaping both sectors. Topics include single-family home sales and starts trends, and REIT earnings performance.
SG: Eco Analysis - US Housing: Signs of life in residential construction activity (B. Jones)
Eco Analysis - US Housing: Signs of life in residential construction activity (B. Jones)
2011.11.17 08:39 AM
■ Housing starts and building permits eclipsed Street expectations in October
The Census Bureau reported that the number of new housing units started dipped by 0.3% to a seasonally adjusted annual rate of 628,000 in October, holding on to all but a fraction of September's reported 7.7% surge. The number of new building permits issued jumped by 10.9% to 653,000 the highest level since March 2010. The reported figures were considerably higher than the respective median consensus forecasts of 610,000 and 603,000.
2011.11.17 08:39 AM
■ Housing starts and building permits eclipsed Street expectations in October
The Census Bureau reported that the number of new housing units started dipped by 0.3% to a seasonally adjusted annual rate of 628,000 in October, holding on to all but a fraction of September's reported 7.7% surge. The number of new building permits issued jumped by 10.9% to 653,000 the highest level since March 2010. The reported figures were considerably higher than the respective median consensus forecasts of 610,000 and 603,000.
WSJ: Banks Face Funding Stress
Banks Face Funding Stress
European Institutions Resort to Potentially Risky Swaps to Generate Liquidity
2011.11.17 01:43 AM
By DAVID ENRICH
LONDON—European banks, increasingly concerned about their ability to access funding, are devising complex and potentially risky new deals that enable them to continue borrowing from the European Central Bank.
European Institutions Resort to Potentially Risky Swaps to Generate Liquidity
2011.11.17 01:43 AM
By DAVID ENRICH
LONDON—European banks, increasingly concerned about their ability to access funding, are devising complex and potentially risky new deals that enable them to continue borrowing from the European Central Bank.
Wednesday, November 16, 2011
USA Today: U.S. economy showing signs of life by several measures
U.S. economy showing signs of life by several measures
From AP Business reports
WASHINGTON – U.S. industrial production rose in October at the fastest rate in three months. Factories made more trucks, electronics and business equipment, a sign that manufacturing is recovering after slowing this spring.
From AP Business reports
WASHINGTON – U.S. industrial production rose in October at the fastest rate in three months. Factories made more trucks, electronics and business equipment, a sign that manufacturing is recovering after slowing this spring.
WSJ: Youth Hit as U.K. Jobless Rate Rises
EUROPE NEWS NOVEMBER 16, 2011, 3:21 P.M. ET
Youth Hit as U.K. Jobless Rate Rises
Bank of England lowers its growth forecasts
By ILONA BILLINGTON and ALEX BRITTAIN
LONDON—U.K. unemployment rose again in October, while the number of young people without a job topped one million at the end of September, data showed Wednesday, increasing political pressure on Prime Minister David Cameron to come up with a solution to an issue that has plagued consecutive governments.
Youth Hit as U.K. Jobless Rate Rises
Bank of England lowers its growth forecasts
By ILONA BILLINGTON and ALEX BRITTAIN
LONDON—U.K. unemployment rose again in October, while the number of young people without a job topped one million at the end of September, data showed Wednesday, increasing political pressure on Prime Minister David Cameron to come up with a solution to an issue that has plagued consecutive governments.
USA Today: Homebuilders feel less pessimistic in November
Homebuilders feel less pessimistic in November
By Derek Kravitz, Associated Press 2011.11.16 10:49 AM
WASHINGTON – Homebuilders are feeling a little less pessimistic about the struggling housing market. But their mood hasn't changed enough to signal a recovery anytime soon.
By Derek Kravitz, Associated Press 2011.11.16 10:49 AM
WASHINGTON – Homebuilders are feeling a little less pessimistic about the struggling housing market. But their mood hasn't changed enough to signal a recovery anytime soon.
Tuesday, November 15, 2011
CNNMoney: Will FHA be the next big government bailout?
Will FHA be the next big government bailout?
By Tami Luhby @CNNMoney November 15, 2011: 8:14 PM ET
NEW YORK (CNNMoney) -- Continued trouble in the housing market has further eroded the Federal Housing Administration's reserves, leaving it with a very thin cushion to protect it against future financial losses.
By Tami Luhby @CNNMoney November 15, 2011: 8:14 PM ET
NEW YORK (CNNMoney) -- Continued trouble in the housing market has further eroded the Federal Housing Administration's reserves, leaving it with a very thin cushion to protect it against future financial losses.
Reuters: France draws fire after "alarm bells" warning
France draws fire after "alarm bells" warning
By Daniel Flynn and James Mackenzie
PARIS/ROME | Tue Nov 15, 2011 6:52pm EST
(Reuters) - France came under heavy fire on global markets Tuesday, reflecting fears that the euro zone's second biggest economy is being sucked into a spiraling debt crisis.
By Daniel Flynn and James Mackenzie
PARIS/ROME | Tue Nov 15, 2011 6:52pm EST
(Reuters) - France came under heavy fire on global markets Tuesday, reflecting fears that the euro zone's second biggest economy is being sucked into a spiraling debt crisis.
Bloomberg: Electronics Boost U.S. Retail Sales
Electronics Boost U.S. Retail Sales
By Shobhana Chandra - 2011.11.15 02:31 PM
Retail sales rose more than projected in October as American shoppers gave the economy a boost at the start of the fourth quarter.
By Shobhana Chandra - 2011.11.15 02:31 PM
Retail sales rose more than projected in October as American shoppers gave the economy a boost at the start of the fourth quarter.
Bloomberg: German Investor Confidence at Three-Year Low
German Investor Confidence at Three-Year Low
By Gabi Thesing - 2011.11.15 02:16 AM
German investor confidence fell to a three-year low in November on concern the sovereign debt crisis will push Europe’s largest economy into recession.
By Gabi Thesing - 2011.11.15 02:16 AM
German investor confidence fell to a three-year low in November on concern the sovereign debt crisis will push Europe’s largest economy into recession.
Bloomberg: German, French GDP Grew in Q3 on Spending
German, French GDP Grew in Q3 on Spending
By Jana Randow and Mark Deen - 2011.11.15 01:15 AM
German and French economic growth rebounded in the third quarter on stronger consumer spending, even as the region braces for a recession sparked by an escalating sovereign debt crisis.
By Jana Randow and Mark Deen - 2011.11.15 01:15 AM
German and French economic growth rebounded in the third quarter on stronger consumer spending, even as the region braces for a recession sparked by an escalating sovereign debt crisis.
Monday, November 14, 2011
Bloomberg: Fed Economists: 2012 Recession Odds Top 50%
Fed Economists: 2012 Recession Odds Top 50%
By Vivien Lou Chen - 2011.11.14 11:00 AM
The odds of a U.S. recession in early 2012 exceed 50 percent as a result of Europe’s debt crisis, according to researchers at the Federal Reserve Bank of San Francisco.
By Vivien Lou Chen - 2011.11.14 11:00 AM
The odds of a U.S. recession in early 2012 exceed 50 percent as a result of Europe’s debt crisis, according to researchers at the Federal Reserve Bank of San Francisco.
BNP: Brazil: Consensus revised down interest rates scenario
Brazil: Consensus revised down interest rates scenario.
2011.11.14 08:23 AM
Consensus scenario incorporated more rate cuts. The central bank's weekly survey presented small changes on the inflation front, remaining at current high levels. For growth, the market consensus revised down just its 2011 forecast, but kept stuck the 2012. For monetary policy, consensus extended its easing cycle by 50bp and now foresees a full easing cycle of 250bp.
2011.11.14 08:23 AM
Consensus scenario incorporated more rate cuts. The central bank's weekly survey presented small changes on the inflation front, remaining at current high levels. For growth, the market consensus revised down just its 2011 forecast, but kept stuck the 2012. For monetary policy, consensus extended its easing cycle by 50bp and now foresees a full easing cycle of 250bp.
Sunday, November 13, 2011
CNNMoney: Hey Europe. Breaking up is a foolish risk
Europe's Debt Crisis
Hey Europe. Breaking up is a foolish risk
By Douglas J. Elliott @CNNMoney November 13, 2011: 5:03 PM ET
Douglas J. Elliott, who worked as an investment banker for two decades, is a fellow at the Brookings Institution.
Should Greece or other nations be allowed to leave the eurozone, or even be forced out? Those questions were considered heresy among European leaders until mere days ago.
Hey Europe. Breaking up is a foolish risk
By Douglas J. Elliott @CNNMoney November 13, 2011: 5:03 PM ET
Douglas J. Elliott, who worked as an investment banker for two decades, is a fellow at the Brookings Institution.
Should Greece or other nations be allowed to leave the eurozone, or even be forced out? Those questions were considered heresy among European leaders until mere days ago.
Bloomberg: Retail Sales Rose, Manufacturing Climbed: U.S. Economy Preview
Retail Sales Rose, Manufacturing Climbed: U.S. Economy Preview
By Shobhana Chandra - 2011.11.12 10:01 PM
Retail sales probably rose in October and U.S. manufacturing accelerated, helping give the world’s biggest economy a boost entering the final months of 2011, economists said before reports this week.
By Shobhana Chandra - 2011.11.12 10:01 PM
Retail sales probably rose in October and U.S. manufacturing accelerated, helping give the world’s biggest economy a boost entering the final months of 2011, economists said before reports this week.
Friday, November 11, 2011
WSJ: Reading Between the Lines on Italy's Woes
AHEAD OF THE TAPE NOVEMBER 10, 2011
Reading Between the Lines on Italy's Woes
By KELLY EVANS
Going by exports to Europe, the Continent's debt crisis seems to pose about as much threat to the U.S. as the giant asteroid that zoomed by this week.
Reading Between the Lines on Italy's Woes
By KELLY EVANS
Going by exports to Europe, the Continent's debt crisis seems to pose about as much threat to the U.S. as the giant asteroid that zoomed by this week.
Thursday, November 10, 2011
USA Today: EU warns of possible recession in eurozone
EU warns of possible recession in eurozone
By GABRIELE STEINHAUSER, Associated Press
2011.11.10 09:42 AM
BRUSSELS – The European Union warned Thursday that the 17-country eurozone could slip into "a deep and prolonged recession" next year as the debt crisis shows alarming signs of spinning out of control.
By GABRIELE STEINHAUSER, Associated Press
2011.11.10 09:42 AM
BRUSSELS – The European Union warned Thursday that the 17-country eurozone could slip into "a deep and prolonged recession" next year as the debt crisis shows alarming signs of spinning out of control.
USA Today: Foreclosure activity hit 7-month high in Oct.
Foreclosure activity hit 7-month high in Oct.
By ALEX VEIGA, Associated Press
2011.11.10 08:50 AM
LOS ANGELES – More U.S. homes entered the foreclosure process in October than in the previous month, with Florida, Pennsylvania and Indiana registering among the largest monthly increases, new data show.
By ALEX VEIGA, Associated Press
2011.11.10 08:50 AM
LOS ANGELES – More U.S. homes entered the foreclosure process in October than in the previous month, with Florida, Pennsylvania and Indiana registering among the largest monthly increases, new data show.
USA Today: Jobless claims at lowest level since April
Jobless claims at lowest level since April
2011.11.10 07:16 AM
WASHINGTON (AP) – The number of people who applied for unemployment benefits last week fell to the lowest level since April, a sign that employers could be stepping up hiring.
2011.11.10 07:16 AM
WASHINGTON (AP) – The number of people who applied for unemployment benefits last week fell to the lowest level since April, a sign that employers could be stepping up hiring.
CNNMoney: Foreclosures on the rise again
Foreclosures on the rise again
By Chris Isidore November 10, 2011: 5:42 AM ET
NEW YORK (CNNMoney) -- The number of foreclosures climbed in October, as mortgage lenders started to work through the paperwork problems that had delayed new filings for much of the last year.
By Chris Isidore November 10, 2011: 5:42 AM ET
NEW YORK (CNNMoney) -- The number of foreclosures climbed in October, as mortgage lenders started to work through the paperwork problems that had delayed new filings for much of the last year.
SG: Eco Analysis - Norway CPI: Up by 1.4% in October (A. Annenkov)
2011.11.10 04:44 AM
Eco Analysis - Norway CPI: Up by 1.4% in October (A. Annenkov)
Headline CPI in Norway rose by 1.4% yoy in October, down from 1.6% in September, in line with market expectations. Core inflation remained unchanged at 1.2% yoy, also in line with expectations. Prices of air fares, electricity and food & non-alcoholic beverages were the main contributors to the deceleration in inflation, while clothing & footwear and alcoholic beverages & tobacco contributed positively. Electricity prices fell less than expected and could imply a downside risk in the coming months.
Eco Analysis - Norway CPI: Up by 1.4% in October (A. Annenkov)
Headline CPI in Norway rose by 1.4% yoy in October, down from 1.6% in September, in line with market expectations. Core inflation remained unchanged at 1.2% yoy, also in line with expectations. Prices of air fares, electricity and food & non-alcoholic beverages were the main contributors to the deceleration in inflation, while clothing & footwear and alcoholic beverages & tobacco contributed positively. Electricity prices fell less than expected and could imply a downside risk in the coming months.
SG: Eco Analysis - French inflation fractionally up, at 2.5% in October, Euro area inflation set to be firm at 3.0% (M. Martinez)
2011.11.10 04:37 AM
Eco Analysis - French inflation fractionally up, at 2.5% in October, Euro area inflation set to be firm at 3.0% (M. Martinez)
■ Overall price pressures remained firm in October in France and in the euro area
Inflation remains firm, despite the fact the euro debt crisis is curbing economic growth. Consumer price inflation in France edged higher in October. The harmonized rate increased to 2.5% yoy from 2.4%, while the national measure rose from 2.2% to 2.3%. Separately, the German HICP was slightly higher than the preliminary estimate (+0.1% mom, +2.9% yoy). Despite this fact, there is no change in our forecast for the euro-area measure, which is still expected to have been steady at 3.0% yoy (+0.3% mom). All these data indicate that overall price pressures remained firm in October in the euro area. Indeed, HICP probably rose by 5.1% on a 3 month annualized basis in the euro area in October (France: 3.3%, Germany: 1.1%, Italy: 13.4%, Spain: 6.4%).
Eco Analysis - French inflation fractionally up, at 2.5% in October, Euro area inflation set to be firm at 3.0% (M. Martinez)
■ Overall price pressures remained firm in October in France and in the euro area
Inflation remains firm, despite the fact the euro debt crisis is curbing economic growth. Consumer price inflation in France edged higher in October. The harmonized rate increased to 2.5% yoy from 2.4%, while the national measure rose from 2.2% to 2.3%. Separately, the German HICP was slightly higher than the preliminary estimate (+0.1% mom, +2.9% yoy). Despite this fact, there is no change in our forecast for the euro-area measure, which is still expected to have been steady at 3.0% yoy (+0.3% mom). All these data indicate that overall price pressures remained firm in October in the euro area. Indeed, HICP probably rose by 5.1% on a 3 month annualized basis in the euro area in October (France: 3.3%, Germany: 1.1%, Italy: 13.4%, Spain: 6.4%).
Business Week: Losing It on the Home Front
Losing It on the Home Front
Posted by: Dan Beucke on November 9, 2011 at 2:15 PM
The housing crisis just keeps grinding on. Home prices fell in three-quarters of U.S. cities in the third quarter, by double digits in some places, according to the latest data from the National Association of Realtors. The median U.S. house price, $164,500, is now 28 percent below its 2006 peak and about where prices stood in Feb. 2003. Fewer people plan to buy a home over the next six months, according to the Conference Board. And another survey of homeowners finds that nearly as many think of owning a home as a “nightmare” as consider it an “American Dream.”
Posted by: Dan Beucke on November 9, 2011 at 2:15 PM
The housing crisis just keeps grinding on. Home prices fell in three-quarters of U.S. cities in the third quarter, by double digits in some places, according to the latest data from the National Association of Realtors. The median U.S. house price, $164,500, is now 28 percent below its 2006 peak and about where prices stood in Feb. 2003. Fewer people plan to buy a home over the next six months, according to the Conference Board. And another survey of homeowners finds that nearly as many think of owning a home as a “nightmare” as consider it an “American Dream.”
CNNMoney: Italy: Definitely too big to fail, maybe too big to bail
Europe's Debt Crisis
Italy: Definitely too big to fail, maybe too big to bail
By Douglas J. Elliott @CNNMoney November 10, 2011: 5:32 AM ET
NEW YORK (CNNMoney) -- Douglas J. Elliott, who worked as an investment banker for two decades, is a fellow at the Brookings Institution.
Italy: Definitely too big to fail, maybe too big to bail
By Douglas J. Elliott @CNNMoney November 10, 2011: 5:32 AM ET
NEW YORK (CNNMoney) -- Douglas J. Elliott, who worked as an investment banker for two decades, is a fellow at the Brookings Institution.
Bloomberg: Too Big to Rescue Italy Forces EMU to Crossroads: Euro Credit
Too Big to Rescue Italy Forces EMU to Crossroads: Euro Credit
By Mark Gilbert and Jesse Westbrook - 2011.11.10 01:51 AM
Italy is forcing Europe to choose between increased bond buying by the European Central Bank or a possible breakup of the euro.
By Mark Gilbert and Jesse Westbrook - 2011.11.10 01:51 AM
Italy is forcing Europe to choose between increased bond buying by the European Central Bank or a possible breakup of the euro.
Tuesday, November 8, 2011
USA Today: Foreclosure backlogs could take decades to clear out
Foreclosure backlogs could take decades to clear out
By Julie Schmit, USA TODAY
2011.11.08 07:14 PM
Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows.
By Julie Schmit, USA TODAY
2011.11.08 07:14 PM
Foreclosure sales are moving so slowly in half the states that at the current pace, it will take more than eight years on average to clear the 2.1 million homes in foreclosure or with seriously delinquent mortgages, new research shows.
CNNMoney: Greek debt crisis: Shades of Argentina
Europe's Debt Crisis
Greek debt crisis: Shades of Argentina
By James O'Toole @CNNMoney November 8, 2011: 11:17 AM ET
NEW YORK (CNNMoney) -- Barack Obama, Nicolas Sarkozy and Angela Merkel descended on the G-20 summit last week intent on stabilizing Greece and resolving the European debt crisis. But Athens may instead end up seeking guidance from an unlikely source: Argentina.
Greek debt crisis: Shades of Argentina
By James O'Toole @CNNMoney November 8, 2011: 11:17 AM ET
NEW YORK (CNNMoney) -- Barack Obama, Nicolas Sarkozy and Angela Merkel descended on the G-20 summit last week intent on stabilizing Greece and resolving the European debt crisis. But Athens may instead end up seeking guidance from an unlikely source: Argentina.
USA Today: Mortgage payments show surprising rise in delinquencies
Mortgage payments show surprising rise in delinquencies
By Eileen AJ Connelly, Associated Press
2011.11.08 08:20 AM
NEW YORK – While lawmakers in Washington debated the debt ceiling and consumer confidence dropped, more homeowners were having a harder time making their mortgage payments.
By Eileen AJ Connelly, Associated Press
2011.11.08 08:20 AM
NEW YORK – While lawmakers in Washington debated the debt ceiling and consumer confidence dropped, more homeowners were having a harder time making their mortgage payments.
Sunday, November 6, 2011
Bloomberg: Europe Crisis Timeline: Maastricht to Papandreou
Europe Crisis Timeline: Maastricht to Papandreou
By Bloomberg News - 2011.11.06 05:01 PM
Following is a timeline of Europe’s debt crisis from the signing of the Maastricht Treaty to Greece’s agreement to set up a government of national unity.
1992 Feb. 7: Maastricht Treaty signed, setting up an “irrevocable” monetary union without a central finance ministry or a mechanism to leave the euro.
By Bloomberg News - 2011.11.06 05:01 PM
Following is a timeline of Europe’s debt crisis from the signing of the Maastricht Treaty to Greece’s agreement to set up a government of national unity.
1992 Feb. 7: Maastricht Treaty signed, setting up an “irrevocable” monetary union without a central finance ministry or a mechanism to leave the euro.
SG: Global Economic Outlook - Outlook 2012: Euro area will be knocked into recession
Global Economic Outlook - Outlook 2012: Euro area will be knocked into recession
2011.11.06 04:47 PM
■ Outlook 2012: Euro area will be knocked into recession
The bombshell of the announcement of the Greek referendum (now off the agenda) and new twists and turns in Italian politics made the decline in financial stress offered by the euro summit agreement only fleeting. The persistence of this extremely high level of financial stress is the trigger for the downgrade to our global economic outlook, and we now see recession in the euro area. Our full year 2012 forecast now stands at 0% for the euro area, 1.4% for the US and 8.1% for China, which places us below consensus for both 2012 and 2013. Against this backdrop, we expect G4 central banks to pursue an extended period of policy accommodation. The risk to the forecasts remains skewed to the downside with potential for fiscal policy errors, notably in the euro area and the US.
2011.11.06 04:47 PM
■ Outlook 2012: Euro area will be knocked into recession
The bombshell of the announcement of the Greek referendum (now off the agenda) and new twists and turns in Italian politics made the decline in financial stress offered by the euro summit agreement only fleeting. The persistence of this extremely high level of financial stress is the trigger for the downgrade to our global economic outlook, and we now see recession in the euro area. Our full year 2012 forecast now stands at 0% for the euro area, 1.4% for the US and 8.1% for China, which places us below consensus for both 2012 and 2013. Against this backdrop, we expect G4 central banks to pursue an extended period of policy accommodation. The risk to the forecasts remains skewed to the downside with potential for fiscal policy errors, notably in the euro area and the US.
Saturday, November 5, 2011
CNNMoney: Europe: the worst-case scenarios
Europe's Debt Crisis
Europe: the worst-case scenarios
By Steve Hargreaves @CNNMoney November 5, 2011: 9:28 AM ET
NEW YORK (CNNMoney) -- The immediate threat in Greece has passed. But the crisis is far from over.
Europe: the worst-case scenarios
By Steve Hargreaves @CNNMoney November 5, 2011: 9:28 AM ET
NEW YORK (CNNMoney) -- The immediate threat in Greece has passed. But the crisis is far from over.
ZEW/gif Office Market Forecast - Rents For Offices in Prime Locations Strongly Increase
ZEW/gif Office Market Forecast - Rents For Offices in Prime Locations Strongly Increase
Prime rents at the five largest German office real estate markets Berlin, Hamburg, Frankfurt, Düsseldorf and Munich will considerably increase by the end of 2012. At the same time, the vacancy rate will hardly be reduced –with the exception of Düsseldorf and Frankfurt. These are the findings of the second survey among real estate market experts, which was conducted by the gif-Arbeitskreis Marktanalysen und Bedarfsprognosen (gif market analysis and demand forecasting working group) in cooperation with the Centre for European Economic Research (ZEW) in Mannheim.
http://www.zew.de/en/press/1693/zewgif-office-market-forecast---rents-for-offices-in-prime-locations-strongly-increase
Prime rents at the five largest German office real estate markets Berlin, Hamburg, Frankfurt, Düsseldorf and Munich will considerably increase by the end of 2012. At the same time, the vacancy rate will hardly be reduced –with the exception of Düsseldorf and Frankfurt. These are the findings of the second survey among real estate market experts, which was conducted by the gif-Arbeitskreis Marktanalysen und Bedarfsprognosen (gif market analysis and demand forecasting working group) in cooperation with the Centre for European Economic Research (ZEW) in Mannheim.
http://www.zew.de/en/press/1693/zewgif-office-market-forecast---rents-for-offices-in-prime-locations-strongly-increase
Friday, November 4, 2011
SG: Eco Analysis - US Employment Report: Don't be misled by the October prints (B. Jones)
Eco Analysis - US Employment Report: Don't be misled by the October prints (B. Jones)
2011.11.04 06:34 AM
■ October job gains failed to match our forecasts, but revisions placed levels even higher
The Bureau of Labor Statistics (BLS) reported that nonfarm payrolls climbed by 80K in October, or by 104K after adjusting for continued pink-slipping by governmental entities. While last month's payroll gains failed to meet our and the Street's expectations, significant upward revisions to the previously reported figures for August and September actually left the October tallies well above projected levels. August was almost doubled from 57K to 104K, while another 55K jobs were added to the original 103K September estimate. It is worth nothing that this is the second consecutive report that saw the BLS' prior projections boosted about roughly 100K jobs.
2011.11.04 06:34 AM
■ October job gains failed to match our forecasts, but revisions placed levels even higher
The Bureau of Labor Statistics (BLS) reported that nonfarm payrolls climbed by 80K in October, or by 104K after adjusting for continued pink-slipping by governmental entities. While last month's payroll gains failed to meet our and the Street's expectations, significant upward revisions to the previously reported figures for August and September actually left the October tallies well above projected levels. August was almost doubled from 57K to 104K, while another 55K jobs were added to the original 103K September estimate. It is worth nothing that this is the second consecutive report that saw the BLS' prior projections boosted about roughly 100K jobs.
Bloomberg: Bill Gross Rebounds From Bottom Ranking as Riskier Assets Surge
Bill Gross Rebounds From Bottom Ranking as Riskier Assets Surge
By Sree Vidya Bhaktavatsalam - 2011.11.03 09:01 PM
Bill Gross’s Pimco Total Return Bond Fund, which is having its worst run this year since at least 1995, regained its spot among top bond funds last month as investors returned to riskier assets.
By Sree Vidya Bhaktavatsalam - 2011.11.03 09:01 PM
Bill Gross’s Pimco Total Return Bond Fund, which is having its worst run this year since at least 1995, regained its spot among top bond funds last month as investors returned to riskier assets.
Thursday, November 3, 2011
USA Today: Could Japan's economic malaise strike here in U.S.?
Could Japan's economic malaise strike here in U.S.?
By John Waggoner, USA TODAY
If you wonder what haunts Federal Reserve Chairman Ben Bernanke's dreams, it's Japan.
By John Waggoner, USA TODAY
If you wonder what haunts Federal Reserve Chairman Ben Bernanke's dreams, it's Japan.
USA Today: Reports show an economy that is growing, but slowly
Reports show an economy that is growing, but slowly
2011.11.03 08:32 AM
WASHINGTON – Four economic reports painted a picture of a slowly growing economy Thursday. They said:
2011.11.03 08:32 AM
WASHINGTON – Four economic reports painted a picture of a slowly growing economy Thursday. They said:
Bloomberg: Economy Drives More Americans to Extreme Poverty
Economy Drives More Americans to Extreme Poverty
By Catherine Dodge - 2011.11.02 09:01 PM
The number of Americans living in neighborhoods beset by extreme poverty surged in the last decade, erasing the progress of the 1990s, with the poorest areas growing more than twice as fast in suburbs as in cities.
By Catherine Dodge - 2011.11.02 09:01 PM
The number of Americans living in neighborhoods beset by extreme poverty surged in the last decade, erasing the progress of the 1990s, with the poorest areas growing more than twice as fast in suburbs as in cities.
Wednesday, November 2, 2011
Download the New Reserves Classification Guide
http://www.spe.org/
Download the New Reserves Classification Guide
2 November 2011 in Americas,Asia-Pacific,Canada,Europe and Sub-Saharan Africa,Europe, Russia and West Africa,Latin America and Caribbean,Middle East, North Africa and India,Regions,Russia and Caspian,SPE News,Technical,United States
Download the New Reserves Classification Guide
2 November 2011 in Americas,Asia-Pacific,Canada,Europe and Sub-Saharan Africa,Europe, Russia and West Africa,Latin America and Caribbean,Middle East, North Africa and India,Regions,Russia and Caspian,SPE News,Technical,United States
Bloomberg: Fed Lowers Economic Growth Outlook for Next Year, Sees 8.6% Unemployment
Fed Lowers Economic Growth Outlook for Next Year, Sees 8.6% Unemployment
By Craig Torres - 2011.11.02 11:32 AM
Federal Reserve officials lowered their outlook for U.S. economic growth in 2012 and forecast that unemployment will average from 8.5 percent to 8.7 percent in the final three months of next year.
By Craig Torres - 2011.11.02 11:32 AM
Federal Reserve officials lowered their outlook for U.S. economic growth in 2012 and forecast that unemployment will average from 8.5 percent to 8.7 percent in the final three months of next year.
CNNMoney: Consumers are scared? Really?
The Buzz
Consumers are scared? Really?
By Paul R. La Monica November 2, 2011: 1:17 PM ET
NEW YORK (CNNMoney) -- With all the worries about Europe being on the brink of financial disaster again and increased nervousness about the U.S. economy, you'd think consumers would be cowering in a closet in fear and stuffing their money in the mattress.
Consumers are scared? Really?
By Paul R. La Monica November 2, 2011: 1:17 PM ET
NEW YORK (CNNMoney) -- With all the worries about Europe being on the brink of financial disaster again and increased nervousness about the U.S. economy, you'd think consumers would be cowering in a closet in fear and stuffing their money in the mattress.
CNBC: Next Year Will Get Even Uglier for US Investors
Next Year Will Get Even Uglier for US Investors
Published: Wednesday, 2 Nov 2011 | 12:25 PM ET
By: Robert Holmes
Senior Writer
Individual investors will be up against political gridlock as the economy grows slowly next year, prospects that may damp stock-market gains even if Congress pushes through a trillion-dollar budget cut.
Published: Wednesday, 2 Nov 2011 | 12:25 PM ET
By: Robert Holmes
Senior Writer
Individual investors will be up against political gridlock as the economy grows slowly next year, prospects that may damp stock-market gains even if Congress pushes through a trillion-dollar budget cut.
Bloomberg: U.S. Companies Add More-Than-Expected 110,000 Workers in October, ADP Says
U.S. Companies Add More-Than-Expected 110,000 Workers in October, ADP Says
By Shobhana Chandra - 2011.11.02 05:30 AM
Companies added workers in October, easing concern the job market is stagnating in the third year of the U.S. recovery, according to a private report based on payrolls.
By Shobhana Chandra - 2011.11.02 05:30 AM
Companies added workers in October, easing concern the job market is stagnating in the third year of the U.S. recovery, according to a private report based on payrolls.
Tuesday, November 1, 2011
Bloomberg: Oaktree Seeks $4 Billion for Fund as Distressed-Debt Opportunities Expand
Oaktree Seeks $4 Billion for Fund as Distressed-Debt Opportunities Expand
By Sabrina Willmer - 2011.11.01 05:00 PM
Oaktree Capital Management LP, the distressed-debt firm that was returning money to investors earlier this year, started marketing a new fund to take advantage of weakening economies in the U.S. and Europe.
By Sabrina Willmer - 2011.11.01 05:00 PM
Oaktree Capital Management LP, the distressed-debt firm that was returning money to investors earlier this year, started marketing a new fund to take advantage of weakening economies in the U.S. and Europe.
S&P: Standard & Poor's Soon-To-Be Released Bank Ratings Criteria: Update And Related Rollout Plans
Standard & Poor's Soon-To-Be Released Bank Ratings Criteria: Update And Related Rollout Plans (00:07:57 min)
In this CreditMatters TV segment, Standard & Poor's Managing Directors Jay Dhru and Vandana Sharma discuss our views on the banking sector and how our soon-to-be released updated criteria will offer a robust framework for rating banks. And Managing Director Hans Wright provides an in-depth overview of our rollout plans for the criteria.
In this CreditMatters TV segment, Standard & Poor's Managing Directors Jay Dhru and Vandana Sharma discuss our views on the banking sector and how our soon-to-be released updated criteria will offer a robust framework for rating banks. And Managing Director Hans Wright provides an in-depth overview of our rollout plans for the criteria.
Monday, October 31, 2011
SG: Eco Analysis - Canada GDP: Energy sector lifts August growth (R. Narvas)
Eco Analysis - Canada GDP: Energy sector lifts August growth (R. Narvas)
■ Better than expected
Economic activity in August surprised to the upside rising 0.3%m/m and there was an added bonus with the previous month revised one tick higher to 0.4% m/m. GDP Y/Y rose to 2.4% from 2.3%.
■ Better than expected
Economic activity in August surprised to the upside rising 0.3%m/m and there was an added bonus with the previous month revised one tick higher to 0.4% m/m. GDP Y/Y rose to 2.4% from 2.3%.
Bloomberg: Gross Says Additional Easing Programs to Push Yields Higher
Gross Says Additional Easing Programs to Push Yields Higher
By Liz Capo McCormick - 2011.10.31 06:28 AM
Bill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., said the additional easing programs hinted at by Federal Reserve officials will push yields on longer-term Treasuries higher.
By Liz Capo McCormick - 2011.10.31 06:28 AM
Bill Gross, manager of the world’s biggest bond fund at Pacific Investment Management Co., said the additional easing programs hinted at by Federal Reserve officials will push yields on longer-term Treasuries higher.
CNNMoney: Home prices heading for triple-dip
Home prices heading for triple-dip
By Les Christie October 31, 2011: 5:37 AM ET
NEW YORK (CNNMoney) -- The besieged housing market has even further to fall before home prices really hit rock bottom.
By Les Christie October 31, 2011: 5:37 AM ET
NEW YORK (CNNMoney) -- The besieged housing market has even further to fall before home prices really hit rock bottom.
Sunday, October 30, 2011
USA Today: 'Lost Decades' explains what damaged the U.S. economy
'Lost Decades' explains what damaged the U.S. economy
By Jon Rosen, Special for USA TODAY
Though the panic of collapsing markets is now behind us, Americans are experiencing a weak, painful recovery compounded by mounting public and private debt.
By Jon Rosen, Special for USA TODAY
Though the panic of collapsing markets is now behind us, Americans are experiencing a weak, painful recovery compounded by mounting public and private debt.
USA Today: Why zombies are taking over the economy
Why zombies are taking over the economy
Have you noticed that there's a slow, shuffling feeling of dread and impending doom in this economy?
Have you noticed that there's a slow, shuffling feeling of dread and impending doom in this economy?
Friday, October 28, 2011
Office Market Frankfurt - Q3 2011
Office Market Frankfurt - Q3 2011
At 316,300 sq m, the Frankfurt office space take-up in the first three quarters was 13% lower than in the previous year. Compared to the previous year, when the space take-up volume was strongly influenced by the owner-occupied take-up by the European Central Bank, this result can be seen as robust.Without the ECB take-up, the growth in take-up would in fact have been at a satisfactory 22%. The vacancy rate rose slightly compared to the previous quarter by 0.2% points to its current level of 17.3%. With 12,700 sq m office space having been completed in the third quarter, the volume of new completions is at its lowest level for three years. The achievable prime rent remained stable at €38.00/sq m/month.
Author(s): several
Source: CB Richard Ellis
Published: 27.10.2011
http://www.immopro24.com/market-report/office-market-frankfurt-q3-2011_1080.html
At 316,300 sq m, the Frankfurt office space take-up in the first three quarters was 13% lower than in the previous year. Compared to the previous year, when the space take-up volume was strongly influenced by the owner-occupied take-up by the European Central Bank, this result can be seen as robust.Without the ECB take-up, the growth in take-up would in fact have been at a satisfactory 22%. The vacancy rate rose slightly compared to the previous quarter by 0.2% points to its current level of 17.3%. With 12,700 sq m office space having been completed in the third quarter, the volume of new completions is at its lowest level for three years. The achievable prime rent remained stable at €38.00/sq m/month.
Author(s): several
Source: CB Richard Ellis
Published: 27.10.2011
http://www.immopro24.com/market-report/office-market-frankfurt-q3-2011_1080.html
Thursday, October 27, 2011
USA Today: Five ways the European debt crisis could affect the U.S.
Five ways the European debt crisis could affect the U.S.
By Richard Wolf, USA TODAY
WASHINGTON – The financial crisis that began in the United States in late 2007 swept across the Atlantic Ocean to Europe. Now, U.S. political and financial leaders are hoping a tentative deal to relieve Europe's government debt crisis will prevent a similar tsunami in reverse.
By Richard Wolf, USA TODAY
WASHINGTON – The financial crisis that began in the United States in late 2007 swept across the Atlantic Ocean to Europe. Now, U.S. political and financial leaders are hoping a tentative deal to relieve Europe's government debt crisis will prevent a similar tsunami in reverse.
Bloomberg: Economy in U.S. Probably Expanded at the Fastest Pace in a Year
Economy in U.S. Probably Expanded at the Fastest Pace in a Year
By Alex Kowalski - 2011.10.26 09:01 PM
The U.S. economy probably grew in the third quarter at the fastest pace this year as gains in consumer spending and business investment helped sustain a recovery on the brink of faltering, economists said before a report today.
By Alex Kowalski - 2011.10.26 09:01 PM
The U.S. economy probably grew in the third quarter at the fastest pace this year as gains in consumer spending and business investment helped sustain a recovery on the brink of faltering, economists said before a report today.
Wednesday, October 26, 2011
Bloomberg: Mongolia Delays First U.S. Dollar Bond Sale as Economy Set for 20% Growth
Mongolia Delays First U.S. Dollar Bond Sale as Economy Set for 20% Growth
2011.10.26 05:58 PM
Mongolia delayed plans to sell its first U.S. dollar-denominated bonds until 2012 as surging coal exports puts the economy on target to grow 20 percent this year.
2011.10.26 05:58 PM
Mongolia delayed plans to sell its first U.S. dollar-denominated bonds until 2012 as surging coal exports puts the economy on target to grow 20 percent this year.
S&P: What Constitutes A Sovereign Default For Standard & Poor's?
What Constitutes A Sovereign Default For Standard & Poor's? (00:10:29 min)
In this CreditMatters TV segment, Standard & Poor's Criteria Officer Alexandra Dimitrijevic discusses the characteristics that could constitute a sovereign default for Standard & Poor's, following the recent public attention to Greece's debt reprofiling. Besides missing a debt payment, Standard & Poor's could also consider some 'distressed' exchange offers or similar debt restructuring as equivalent to a default, if they meet certain characteristics.
In this CreditMatters TV segment, Standard & Poor's Criteria Officer Alexandra Dimitrijevic discusses the characteristics that could constitute a sovereign default for Standard & Poor's, following the recent public attention to Greece's debt reprofiling. Besides missing a debt payment, Standard & Poor's could also consider some 'distressed' exchange offers or similar debt restructuring as equivalent to a default, if they meet certain characteristics.
Deutsche Bank’s Gad Caspy takes over European CRE
Deutsche Bank’s Gad Caspy takes over European CRE
Posted on October 26, 2011 7:48 pm
Deutsche Bank has appointed Gad Caspy as its new European head of real estate, replacing Cyril Courbage who left the bank at the end of September, CoStar News has learned.
http://costarfinance.com/2011/10/26/deutsche-banks-gad-caspy-takes-over-european-cre/
Caspy, currently a managing director in Deutsche Bank’s New York-based global structured credit division, has worked closely with the divisions’ head, Elad Shraga, with their working relationship at Deutsche Bank reportedly dating back to a stint at the bank’s Tel Aviv branch.
Shraga has been integrating the European real estate team into his wider global structured credit division since the turn of the year as the bank seeks to target the much deeper US structured finance investor market for its European real estate debt.
Caspy is expected to relocate to London next month and to drive through the next phase of integration with the European commercial real estate team in the final months of frenetic year for the bank, reflected both in deal flow and personnel changes.
Deutsche Bank is currently attempting to syndicate three UK loans which were originally earmarked as its second CMBS of the year, before the mixture of events during and since the summer evaporated investor appetite for new origination securitised debt.
The Merry Hill loan, refinanced over the summer, is secured by shares in Queensland Investment Corporation and Westfield’s Merry Hill shopping centre on the outskirts of Birmingham. Given that the loan is secured by shares, rather than the property itself, pfandbrief-funded banks will unlikely be interested because they require fixed securities.
MEPC’s Milton Park, an Oxfordshire business park, secures the second £145m loan, which has drawn interest from Deutsche Pfandbriefbank who is understood to be considering how much to take.
The third loan is secured by Marcol Group’s Design Centre in Chelsea Harbour. The syndication effort is headed up by director Fiona D’Silva, who joined from Goldman Sachs over the summer, and director Bhavesh Patel, who has in part replaced Heath Forusz, who left the bank in August.
Last month, Deutsche Bank syndicated the majority of its £305m senior loan, secured by Blackstone’s Mint portfolio to GE Capital Real Estate, GIC and M&G Investments.
Next month, the bank is aiming to pull off the protracted funding of Richard Caring and Stephen Sharp’s 20 Grosvenor Square luxury residential development.
The £330m mixed senior and mezzanine facility is expected to drawdown with the existing lenders on the ticket, despite worsening market conditions and exacerbated capital prudence on the part of lenders.
Yesterday, the bank reported third quarter net income of €777m, but chairman and CEO Josef Ackermann, admitted that “the operating environment was more difficult than at any time since the end of 2008, driven by a deteriorating macro-economic outlook, and significant financial market turbulence”.
Since the turn of the year, Deutsche Bank has aggressively been selling down its exposure to peripheral sovereign debt – from €12.1bn to €4.4bn over the nine months to the end of September.
This includes €1.6bn in Greek debt which has been marked to market at 46% of its notional value leaving the remaining exposure at just €881m.
Deutsche Bank declined to comment.
jwallace@costar.co.uk
http://costarfinance.com/2011/10/26/deutsche-banks-gad-caspy-takes-over-european-cre/
Posted on October 26, 2011 7:48 pm
Deutsche Bank has appointed Gad Caspy as its new European head of real estate, replacing Cyril Courbage who left the bank at the end of September, CoStar News has learned.
http://costarfinance.com/2011/10/26/deutsche-banks-gad-caspy-takes-over-european-cre/
Caspy, currently a managing director in Deutsche Bank’s New York-based global structured credit division, has worked closely with the divisions’ head, Elad Shraga, with their working relationship at Deutsche Bank reportedly dating back to a stint at the bank’s Tel Aviv branch.
Shraga has been integrating the European real estate team into his wider global structured credit division since the turn of the year as the bank seeks to target the much deeper US structured finance investor market for its European real estate debt.
Caspy is expected to relocate to London next month and to drive through the next phase of integration with the European commercial real estate team in the final months of frenetic year for the bank, reflected both in deal flow and personnel changes.
Deutsche Bank is currently attempting to syndicate three UK loans which were originally earmarked as its second CMBS of the year, before the mixture of events during and since the summer evaporated investor appetite for new origination securitised debt.
The Merry Hill loan, refinanced over the summer, is secured by shares in Queensland Investment Corporation and Westfield’s Merry Hill shopping centre on the outskirts of Birmingham. Given that the loan is secured by shares, rather than the property itself, pfandbrief-funded banks will unlikely be interested because they require fixed securities.
MEPC’s Milton Park, an Oxfordshire business park, secures the second £145m loan, which has drawn interest from Deutsche Pfandbriefbank who is understood to be considering how much to take.
The third loan is secured by Marcol Group’s Design Centre in Chelsea Harbour. The syndication effort is headed up by director Fiona D’Silva, who joined from Goldman Sachs over the summer, and director Bhavesh Patel, who has in part replaced Heath Forusz, who left the bank in August.
Last month, Deutsche Bank syndicated the majority of its £305m senior loan, secured by Blackstone’s Mint portfolio to GE Capital Real Estate, GIC and M&G Investments.
Next month, the bank is aiming to pull off the protracted funding of Richard Caring and Stephen Sharp’s 20 Grosvenor Square luxury residential development.
The £330m mixed senior and mezzanine facility is expected to drawdown with the existing lenders on the ticket, despite worsening market conditions and exacerbated capital prudence on the part of lenders.
Yesterday, the bank reported third quarter net income of €777m, but chairman and CEO Josef Ackermann, admitted that “the operating environment was more difficult than at any time since the end of 2008, driven by a deteriorating macro-economic outlook, and significant financial market turbulence”.
Since the turn of the year, Deutsche Bank has aggressively been selling down its exposure to peripheral sovereign debt – from €12.1bn to €4.4bn over the nine months to the end of September.
This includes €1.6bn in Greek debt which has been marked to market at 46% of its notional value leaving the remaining exposure at just €881m.
Deutsche Bank declined to comment.
jwallace@costar.co.uk
http://costarfinance.com/2011/10/26/deutsche-banks-gad-caspy-takes-over-european-cre/
CNNMoney: Top 1% are getting even richer
AMERICAN DREAM DEFERRED
Top 1% are getting even richer
By Jessica Dickler @CNNMoney October 26, 2011: 10:51 AM ET
NEW YORK (CNNMoney) -- From 1979 to 2007, average household income for the nation's top 1% more than tripled, while middle-class incomes grew by less than 40%, according to a new report from a research arm of Congress.
Top 1% are getting even richer
By Jessica Dickler @CNNMoney October 26, 2011: 10:51 AM ET
NEW YORK (CNNMoney) -- From 1979 to 2007, average household income for the nation's top 1% more than tripled, while middle-class incomes grew by less than 40%, according to a new report from a research arm of Congress.
CNNMoney: Should I buy or rent?
Should I buy or rent?
By Walter Updegrave October 26, 2011: 7:33 AM ET
NEW YORK (CNNMoney) -- For the last three years, my husband and I have been renting a house. But I would rather buy than throw my money away on rent. Still, even though we have about $120,000 in savings, great credit and no debt, my husband is reluctant. The job he's had the past two years took 15 months to find, and it pays a lot less than his previous job. He's afraid buying now isn't a good idea because of the shaky economy. What do you think: Should we buy or continue renting? -- Jean J.
By Walter Updegrave October 26, 2011: 7:33 AM ET
NEW YORK (CNNMoney) -- For the last three years, my husband and I have been renting a house. But I would rather buy than throw my money away on rent. Still, even though we have about $120,000 in savings, great credit and no debt, my husband is reluctant. The job he's had the past two years took 15 months to find, and it pays a lot less than his previous job. He's afraid buying now isn't a good idea because of the shaky economy. What do you think: Should we buy or continue renting? -- Jean J.
Bloomberg: Sales of New U.S. Homes Hits Five-Month High
Sales of New U.S. Homes Hits Five-Month High
By Bob Willis - 2011.10.26 07:11 AM
Purchases of new U.S. houses rose more than forecast in September as discounted prices lured buyers in some parts of the country.
By Bob Willis - 2011.10.26 07:11 AM
Purchases of new U.S. houses rose more than forecast in September as discounted prices lured buyers in some parts of the country.
USA Today: New-home sales jump in September as builders cut prices
New-home sales jump in September as builders cut prices
WASHINGTON (AP) – Sales of new homes rose in September after four straight monthly declines, largely because builders cut their prices.
WASHINGTON (AP) – Sales of new homes rose in September after four straight monthly declines, largely because builders cut their prices.
Tuesday, October 25, 2011
SG: US Housing: Home prices dipped again in August
■ Home prices moved lower in 20 US cities during August (B. Jones)
S&P/Case-Shiller (SPCS) reported that home prices in the 20 US cities that they track fell by 0.05% in August, after a downward revised 0.15% decline in July. The August print marked the fourth consecutive monthly slide and was weaker than the median Street expectation for a 0.1% rise. Since April, home prices have fallen by 0.3%, erasing three quarters of the rise posted in that month. The reported August dip left the index 3.8% below its year-to-year level the smallest 12-month decline since April.
Monday, October 24, 2011
Reuters: U.S. throws lifeline to underwater homeowners
U.S. throws lifeline to underwater homeowners
By Margaret Chadbourn
WASHINGTON | Mon Oct 24, 2011 8:53pm EDT
(Reuters) - U.S. homeowners who owe more than their properties are worth got new help on Monday with the government's expansion of a refinancing program in a step that could help up to 1 million borrowers.
By Margaret Chadbourn
WASHINGTON | Mon Oct 24, 2011 8:53pm EDT
(Reuters) - U.S. homeowners who owe more than their properties are worth got new help on Monday with the government's expansion of a refinancing program in a step that could help up to 1 million borrowers.
Reuters: Fed Focus: Fed activists loudly signal low bar to easing
Fed Focus: Fed activists loudly signal low bar to easing
By Mark Felsenthal
WASHINGTON | Mon Oct 24, 2011 7:11pm EDT
(Reuters) - Pro-growth activists at the Federal Reserve have gotten noisier, a sign the central bank won't back off aggressive efforts to spur a stronger recovery despite the objections of critics.
By Mark Felsenthal
WASHINGTON | Mon Oct 24, 2011 7:11pm EDT
(Reuters) - Pro-growth activists at the Federal Reserve have gotten noisier, a sign the central bank won't back off aggressive efforts to spur a stronger recovery despite the objections of critics.
CNNMoney: GDP forecast: Growing faster, but not for long
RECOVERY AT RISK
GDP forecast: Growing faster, but not for long
By Chris Isidore @CNNMoney October 24, 2011: 4:18 PM ET
NEW YORK (CNNMoney) -- Economists are a little more optimistic about the nation's economic health, but they don't think the sputtering U.S. recovery is out of the woods.
GDP forecast: Growing faster, but not for long
By Chris Isidore @CNNMoney October 24, 2011: 4:18 PM ET
NEW YORK (CNNMoney) -- Economists are a little more optimistic about the nation's economic health, but they don't think the sputtering U.S. recovery is out of the woods.
Bloomberg: Fed Wants to Ensure Housing Affordability, Dudley Says
Fed Wants to Ensure Housing Affordability, Dudley Says
By Caroline Salas Gage - 2011.10.24 12:26 PM
Federal Reserve Bank of New York President William C. Dudley said the central bank wants to keep mortgage interest rates from rising too much and may do more to hold down borrowing costs.
By Caroline Salas Gage - 2011.10.24 12:26 PM
Federal Reserve Bank of New York President William C. Dudley said the central bank wants to keep mortgage interest rates from rising too much and may do more to hold down borrowing costs.
S&P: What's Behind The Recent Rating Actions On The Five Largest French Banks?
What's Behind The Recent Rating Actions On The Five Largest French Banks? (00:06:48 min)
In light of more challenging economic and funding market conditions, Standard & Poor's Ratings Services took various rating actions on the five largest banks in France. Additionally, Standard & Poor's has also revised the Banking Industry Country Risk Assessment (BICRA) on France to Group 2 from the lower-risk Group 1. In this CreditMatters TV segment, Elisabeth Grandin, one of our senior analysts for European Banks, discusses the report related to these rating actions, which was published Oct. 14, 2011.
In light of more challenging economic and funding market conditions, Standard & Poor's Ratings Services took various rating actions on the five largest banks in France. Additionally, Standard & Poor's has also revised the Banking Industry Country Risk Assessment (BICRA) on France to Group 2 from the lower-risk Group 1. In this CreditMatters TV segment, Elisabeth Grandin, one of our senior analysts for European Banks, discusses the report related to these rating actions, which was published Oct. 14, 2011.
S&P: Shedding Light On The Global Power Industry
Shedding Light On The Global Power Industry (00:09:51 min)
Low natural gas prices and weak power demand have driven down electricity prices, stressing ratings on generators at a time when environmental compliance costs continue to rise. Utilities in rate-regulated markets to a large extent have maintained credit quality as regulators have generally allowed cost pass-through for everything from smokestack scrubbers to nuclear plant upgrades. In this CreditMatters TV segment, Lead Analytical Managers Steve Dreyer (Utilities & Infrastructure, U.S.), Peter Tuving (Utilities & Infrastructure, Europe/Middle East/Africa), and Andrew Palmer (Utilities & Infrastructure, Asia-Pacific) examine the trends shaping the global power industry. Topics include the impact of Europe’s struggling economies on utility ratings and how the Fukushima earthquake and Tokyo Electric Power have affected Asia-Pacific's utility sector.
Low natural gas prices and weak power demand have driven down electricity prices, stressing ratings on generators at a time when environmental compliance costs continue to rise. Utilities in rate-regulated markets to a large extent have maintained credit quality as regulators have generally allowed cost pass-through for everything from smokestack scrubbers to nuclear plant upgrades. In this CreditMatters TV segment, Lead Analytical Managers Steve Dreyer (Utilities & Infrastructure, U.S.), Peter Tuving (Utilities & Infrastructure, Europe/Middle East/Africa), and Andrew Palmer (Utilities & Infrastructure, Asia-Pacific) examine the trends shaping the global power industry. Topics include the impact of Europe’s struggling economies on utility ratings and how the Fukushima earthquake and Tokyo Electric Power have affected Asia-Pacific's utility sector.
CNNMoney: Fed's Dudley calls for housing aid
EYES ON THE FED
Fed's Dudley calls for housing aid
By Annalyn Censky @CNNMoney October 24, 2011: 9:44 AM ET
NEW YORK (CNNMoney) -- A top Federal Reserve official is pushing for an "urgent effort" to prop up the housing market, and support the overall U.S. economy.
Fed's Dudley calls for housing aid
By Annalyn Censky @CNNMoney October 24, 2011: 9:44 AM ET
NEW YORK (CNNMoney) -- A top Federal Reserve official is pushing for an "urgent effort" to prop up the housing market, and support the overall U.S. economy.
Bloomberg: Jobs Outlook in U.S. Worst Since 2010: Survey
Jobs Outlook in U.S. Worst Since 2010: Survey
By Shobhana Chandra - 2011.10.23 09:01 PM
U.S. companies’ hiring plans reflect the worst employment outlook since January 2010 as demand slows in the world’s largest economy, a private survey showed.
By Shobhana Chandra - 2011.10.23 09:01 PM
U.S. companies’ hiring plans reflect the worst employment outlook since January 2010 as demand slows in the world’s largest economy, a private survey showed.
Sunday, October 23, 2011
Reuters: U.S. rating likely to be downgraded again: Merrill
U.S. rating likely to be downgraded again: Merrill
By Walter Brandimarte
NEW YORK | Sun Oct 23, 2011 3:20pm EDT
(Reuters) - The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.
By Walter Brandimarte
NEW YORK | Sun Oct 23, 2011 3:20pm EDT
(Reuters) - The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.
USA Today: Big banks under new pressure in Europe crisis
Big banks under new pressure in Europe crisis
2011.10.22 10:56 PM
BRUSSELS (AP) – Big banks found themselves under pressure in Europe's debt crisis Saturday, with finance chiefs pushing them to raise billions of euros in capital and accept huge losses on Greek bonds they hold.
2011.10.22 10:56 PM
BRUSSELS (AP) – Big banks found themselves under pressure in Europe's debt crisis Saturday, with finance chiefs pushing them to raise billions of euros in capital and accept huge losses on Greek bonds they hold.
Saturday, October 22, 2011
USA Today: Ariz. regulators seize PMI Mortgage Insurance Co.
Ariz. regulators seize PMI Mortgage Insurance Co.
PHOENIX (AP) – Insurance regulators in Arizona have seized the main subsidiary of private mortgage insurer PMI Group, which will begin paying claims at just 50%.
PHOENIX (AP) – Insurance regulators in Arizona have seized the main subsidiary of private mortgage insurer PMI Group, which will begin paying claims at just 50%.
USA Today: Condo nation: Why so few Americans are buying homes
Condo nation: Why so few Americans are buying homes
By John Melloy, CNBC.com
2011.10.22 07:52 AM
The housing market is rebounding — at least one piece of it.
By John Melloy, CNBC.com
2011.10.22 07:52 AM
The housing market is rebounding — at least one piece of it.
Friday, October 21, 2011
USA Today: Unemployment rates fall in half of U.S. states
Unemployment rates fall in half of U.S. states
By Christopher S. Rugaber, Associated Press
2011.10.21 07:53 AM
WASHINGTON – Unemployment rates fell in half of U.S. states last month, a sign that September's pickup in hiring was felt around the country.
By Christopher S. Rugaber, Associated Press
2011.10.21 07:53 AM
WASHINGTON – Unemployment rates fell in half of U.S. states last month, a sign that September's pickup in hiring was felt around the country.
CNNMoney: Foreign buyers scooping up U.S. homes
Foreign buyers scooping up U.S. homes
By Les Christie October 21, 2011: 5:23 AM ET
NEW YORK (CNNMoney) -- Hey, wealthy foreigners! Want to live in the U.S.? Buy a home here.
By Les Christie October 21, 2011: 5:23 AM ET
NEW YORK (CNNMoney) -- Hey, wealthy foreigners! Want to live in the U.S.? Buy a home here.
Starwood Capital brings in European real estate debt ‘point man’
Starwood Capital brings in European real estate debt ‘point man’
Posted on October 20, 2011 1:21 pm
Starwood Capital, the global private equity real estate firm, is moving Adam Shah over to London next month from its US headquarters to act as point man for real estate loan debt opportunities.
http://costarfinance.com/2011/10/20/starwood-capital-brings-in-european-real-estate-debt-point-man/
Posted on October 20, 2011 1:21 pm
Starwood Capital, the global private equity real estate firm, is moving Adam Shah over to London next month from its US headquarters to act as point man for real estate loan debt opportunities.
http://costarfinance.com/2011/10/20/starwood-capital-brings-in-european-real-estate-debt-point-man/
Bloomberg: Fed Should Resume Mortgage Purchases: Tarullo
Fed Should Resume Mortgage Purchases: Tarullo
By Scott Lanman and Caroline Salas Gage - 2011.10.20 09:05 PM
Federal Reserve Governor Daniel Tarullo’s call for resuming large-scale purchases of mortgage bonds may boost chances the central bank will start a third round of asset buying aimed at reviving U.S. growth.
By Scott Lanman and Caroline Salas Gage - 2011.10.20 09:05 PM
Federal Reserve Governor Daniel Tarullo’s call for resuming large-scale purchases of mortgage bonds may boost chances the central bank will start a third round of asset buying aimed at reviving U.S. growth.
Thursday, October 20, 2011
Bloomberg: Factories Help to Support U.S. Economy as Labor, Housing Markets Struggle
Factories Help to Support U.S. Economy as Labor, Housing Markets Struggle
By Alex Kowalski - 2011.10.20 01:20 PM
Manufacturing in the Philadelphia area unexpectedly expanded in October at the fastest pace in six months, signaling factories are helping support a U.S. economy weighed down by weakness in the housing and labor markets.
By Alex Kowalski - 2011.10.20 01:20 PM
Manufacturing in the Philadelphia area unexpectedly expanded in October at the fastest pace in six months, signaling factories are helping support a U.S. economy weighed down by weakness in the housing and labor markets.
Conference Board: US LEI Increases
US LEI Increases
20 October, 2011
The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.2 percent in September to 116.4 (2004 = 100), following a 0.3 percent increase in August, and a 0.6 percent increase in July.
20 October, 2011
The Conference Board Leading Economic Index® (LEI) for the U.S. increased 0.2 percent in September to 116.4 (2004 = 100), following a 0.3 percent increase in August, and a 0.6 percent increase in July.
USA Today: Unemployment claims drop, economic indicators point higher
Unemployment claims drop, economic indicators point higher
2011.10.19 11:14 PM
WASHINGTON (AP) – The number of people applying for unemployment benefits declined slightly last week, but applications are still above levels consistent with a healthy economy.
2011.10.19 11:14 PM
WASHINGTON (AP) – The number of people applying for unemployment benefits declined slightly last week, but applications are still above levels consistent with a healthy economy.
Bloomberg: Brooklyn Home Sales Jump as Buyers Seek Deals on New Condo Developments
Brooklyn Home Sales Jump as Buyers Seek Deals on New Condo Developments
By Prashant Gopal and Katie Spencer - 2011.10.19 09:01 PM
Home sales in Brooklyn, New York’s most populous borough, climbed 18 percent in the third quarter as rising apartment rents and low mortgage rates drove demand for condominiums in new developments.
By Prashant Gopal and Katie Spencer - 2011.10.19 09:01 PM
Home sales in Brooklyn, New York’s most populous borough, climbed 18 percent in the third quarter as rising apartment rents and low mortgage rates drove demand for condominiums in new developments.
Bloomberg: Commercial Real Estate Deals Decline in Cooling of U.S. Property Rebound
Commercial Real Estate Deals Decline in Cooling of U.S. Property Rebound
By David M. Levitt, Hui-yong Yu and Dan Levy - 2011.10.19 09:01 PM
The U.S. commercial real estate market has slowed in the past three months as the sputtering economy and a pullback in debt financing limited deals, cooling a recovery from Washington to California.
By David M. Levitt, Hui-yong Yu and Dan Levy - 2011.10.19 09:01 PM
The U.S. commercial real estate market has slowed in the past three months as the sputtering economy and a pullback in debt financing limited deals, cooling a recovery from Washington to California.
Bloomberg: Sales of Existing U.S. Homes Probably Fell as Lack of Jobs Hurt Confidence
Bloomberg: Sales of Existing U.S. Homes Probably Fell as Lack of Jobs Hurt Confidence
By Bob Willis - 2011.10.19 09:00 PM
Sales of existing U.S. homes probably fell in September, extending a pattern of gains and losses that shows the industry is being buffeted by a lack of jobs and confidence, economists said before a report today.
By Bob Willis - 2011.10.19 09:00 PM
Sales of existing U.S. homes probably fell in September, extending a pattern of gains and losses that shows the industry is being buffeted by a lack of jobs and confidence, economists said before a report today.
Wednesday, October 19, 2011
WSJ: Euro-Zone Deal Still in Doubt
EUROPE NEWS OCTOBER 20, 2011
Euro-Zone Deal Still in Doubt
By LAURENCE NORMAN, COSTAS PARIS and MATTHEW DALTON
BRUSSELS—Euro-zone leaders have narrowed their differences but remain well short of a deal to try to bring the debt crisis to a close, according to people familiar with the situation.
Euro-Zone Deal Still in Doubt
By LAURENCE NORMAN, COSTAS PARIS and MATTHEW DALTON
BRUSSELS—Euro-zone leaders have narrowed their differences but remain well short of a deal to try to bring the debt crisis to a close, according to people familiar with the situation.
Bloomberg: Sept. Housing Starts Up More Than Forecast
Sept. Housing Starts Up More Than Forecast
By Bob Willis and Alex Kowalski - 2011.10.19 02:00 PM
Builders began work on more U.S. homes than forecast in September and consumer prices climbed at the slowest pace in three months, supporting Federal Reserve forecasts for a pickup in growth and a moderation in inflation.
By Bob Willis and Alex Kowalski - 2011.10.19 02:00 PM
Builders began work on more U.S. homes than forecast in September and consumer prices climbed at the slowest pace in three months, supporting Federal Reserve forecasts for a pickup in growth and a moderation in inflation.
CNNMoney: Fed: Economy weakening but no sign of recession
EYES ON THE FED
Fed: Economy weakening but no sign of recession
By Chris Isidore @CNNMoney October 19, 2011: 2:46 PM ET
NEW YORK (CNNMoney) -- The economy is losing steam across much of the nation, but is still growing and not in recession, according to the latest outlook from the Federal Reserve.
Fed: Economy weakening but no sign of recession
By Chris Isidore @CNNMoney October 19, 2011: 2:46 PM ET
NEW YORK (CNNMoney) -- The economy is losing steam across much of the nation, but is still growing and not in recession, according to the latest outlook from the Federal Reserve.
CNNMoney: Hedge funds suffer worst quarter since 2008
Hedge funds suffer worst quarter since 2008
By Hibah Yousuf October 19, 2011: 2:12 PM ET
NEW YORK (CNNMoney) -- Feeling blue about the hit your portfolio took last quarter? You're not alone. Hedge funds also had a lousy third quarter, delivering one of the worst performances on record.
By Hibah Yousuf October 19, 2011: 2:12 PM ET
NEW YORK (CNNMoney) -- Feeling blue about the hit your portfolio took last quarter? You're not alone. Hedge funds also had a lousy third quarter, delivering one of the worst performances on record.
SG: Eco Analysis - US Housing Activity: Multifamily mayhem (B. Jones)
Eco Analysis - US Housing Activity: Multifamily mayhem (B. Jones)
■ Powered by a surge in multifamily activity, housing starts jumped to 17-month high
The number of new housing units started jumped by 15.0% to a seasonally adjusted annual rate of 658,000 in September, following upward-revised tallies of 615,000 in July and 572,000 in August. The reported figure exceeded the consensus expectation (590,000) by a country mile and represented the strongest activity since April 2010 (687,000). Reflecting solid demand for rental dwellings, multifamily starts soared by 51.3% to 233,000, accounting for all but a fraction of last month's rise. Single-family starts, climbed by a comparatively modest 1.7% to 425,000, essentially matching the July-August average.
USA Today: Student loans outstanding will exceed $1 trillion this year
Student loans outstanding will exceed $1 trillion this year
By Dennis Cauchon, USA TODAY
2011.10.19 12:15 AM
Students and workers seeking retraining are borrowing extraordinary amounts of money through federal loan programs, potentially putting a huge burden on the backs of young people looking for jobs and trying to start careers.
By Dennis Cauchon, USA TODAY
2011.10.19 12:15 AM
Students and workers seeking retraining are borrowing extraordinary amounts of money through federal loan programs, potentially putting a huge burden on the backs of young people looking for jobs and trying to start careers.
Tuesday, October 18, 2011
Reuters: French credit review threatens euro zone rescues
French credit review threatens euro zone rescues
By Paul Taylor and Nicholas Vinocur
PARIS | Tue Oct 18, 2011 4:38am EDT
(Reuters) - Moody's decision to review France's triple-A credit rating cast new doubt on Tuesday on Europe's hopes of drawing a line under its sovereign debt crisis, five days before a crucial EU summit.
By Paul Taylor and Nicholas Vinocur
PARIS | Tue Oct 18, 2011 4:38am EDT
(Reuters) - Moody's decision to review France's triple-A credit rating cast new doubt on Tuesday on Europe's hopes of drawing a line under its sovereign debt crisis, five days before a crucial EU summit.
Bloomberg: Home Short Sales Rise in ‘Dramatic Shift’ That May Boost Prices
Home Short Sales Rise in ‘Dramatic Shift’ That May Boost Prices
By Kathleen M. Howley - 2011.10.17 09:01 PM
U.S. home prices may get a boost from an unlikely source: a pickup in sales of properties in default before they reach the stage where they are repossessed by the bank and sold.
By Kathleen M. Howley - 2011.10.17 09:01 PM
U.S. home prices may get a boost from an unlikely source: a pickup in sales of properties in default before they reach the stage where they are repossessed by the bank and sold.
Monday, October 17, 2011
NYT: In an Earlier Time of Boom and Bust, Rentals Also Gained Favor
THE APPRAISAL
In an Earlier Time of Boom and Bust, Rentals Also Gained Favor
By DIANE CARDWELL
Published: October 17, 2011
During the boom years in Manhattan real estate, credit was easy, speculators developed building after building to meet rising demand for apartments, and values kept climbing, fed by a flurry of resales. But then Wall Street plummeted and the housing market followed suit, as values deflated and apartment sales came to a standstill.
In an Earlier Time of Boom and Bust, Rentals Also Gained Favor
By DIANE CARDWELL
Published: October 17, 2011
During the boom years in Manhattan real estate, credit was easy, speculators developed building after building to meet rising demand for apartments, and values kept climbing, fed by a flurry of resales. But then Wall Street plummeted and the housing market followed suit, as values deflated and apartment sales came to a standstill.
Algae eyed as biofuel, animal feed
http://www.gmanetwork.com/news/story/235619/scitech/algae-eyed-as-biofuel-animal-feed
Algae eyed as biofuel, animal feed
October 17, 2011 9:59am
The lowly algae may soon be a useful biofuel and a source of animal feeds but only if the agricultural and energy sectors focus their efforts on tapping it.
Algae eyed as biofuel, animal feed
October 17, 2011 9:59am
The lowly algae may soon be a useful biofuel and a source of animal feeds but only if the agricultural and energy sectors focus their efforts on tapping it.
Sunday, October 16, 2011
Bloomberg: Hedge Funds Add to Raw-Material Bets in Biggest Rally of 2011: Commodities
Hedge Funds Add to Raw-Material Bets in Biggest Rally of 2011: Commodities
By Whitney McFerron - 2011.10.16 06:19 PM
Speculators boosted their wagers on higher commodity prices for the first time in five weeks as increasing confidence that the global economy will avoid another recession spurred the biggest rally of the year.
By Whitney McFerron - 2011.10.16 06:19 PM
Speculators boosted their wagers on higher commodity prices for the first time in five weeks as increasing confidence that the global economy will avoid another recession spurred the biggest rally of the year.
Saturday, October 15, 2011
USA Today: Low mortgage rates are nice if you can get 'em
USA Today: Low mortgage rates are nice if you can get 'em
By Diana Olick, CNBC.com
2011.10.15 08:07 AM
For weeks now we've been touting new record-low rates on 15- and 30-year fixed mortgages.
By Diana Olick, CNBC.com
2011.10.15 08:07 AM
For weeks now we've been touting new record-low rates on 15- and 30-year fixed mortgages.
CNNMoney: Pimco's Bill Gross is betting with the Fed
Pimco's Bill Gross is betting with the Fed
By Hibah Yousuf October 15, 2011: 10:08 AM ET
NEW YORK (CNNMoney) -- Pimco's Bill Gross has already admitted that his bearish call on U.S. Treasuries earlier this year was a bad bet. Now it seems that the bond guru is taking his lead from the Federal Reserve.
By Hibah Yousuf October 15, 2011: 10:08 AM ET
NEW YORK (CNNMoney) -- Pimco's Bill Gross has already admitted that his bearish call on U.S. Treasuries earlier this year was a bad bet. Now it seems that the bond guru is taking his lead from the Federal Reserve.
Bloomberg: Pimco’s Gross Tells Clients 2011 a ‘Stinker’
Pimco’s Gross Tells Clients 2011 a ‘Stinker’
By Sree Vidya Bhaktavatsalam - 2011.10.15 05:01 AM
Bill Gross, manager of the world’s biggest mutual fund, sought to reassure clients that he hasn’t lost his touch after he misjudged the extent of the economic slowdown, causing his Pimco Total Return Fund to trail rivals this year.
By Sree Vidya Bhaktavatsalam - 2011.10.15 05:01 AM
Bill Gross, manager of the world’s biggest mutual fund, sought to reassure clients that he hasn’t lost his touch after he misjudged the extent of the economic slowdown, causing his Pimco Total Return Fund to trail rivals this year.
Thursday, October 13, 2011
Pike Research forecasts global biofuels market value to double to $185B by 2021
http://www.greencarcongress.com/2011/10/pikebiofuels-20111013.html
Pike Research forecasts global biofuels market value to double to $185B by 2021
13 October 2011
According to a new report from Pike Research, the increased production and consumption of biofuels will more than double the industry’s market value in the next decade. Pike forecasts that the global market for biofuels will increase from $82.7 billion in 2011 to $185.3 billion by 2021.
Pike Research forecasts global biofuels market value to double to $185B by 2021
13 October 2011
According to a new report from Pike Research, the increased production and consumption of biofuels will more than double the industry’s market value in the next decade. Pike forecasts that the global market for biofuels will increase from $82.7 billion in 2011 to $185.3 billion by 2021.
USA Today: Foreclosure notices rise in 3Q, but down from a year ago
Foreclosure notices rise in 3Q, but down from a year ago
By ALEX VEIGA, Associated Press
2011.10.13 03:18 AM
LOS ANGELES – More U.S. homes are entering the foreclosure process, but they're taking longer to be sold or repossessed by lenders.
By ALEX VEIGA, Associated Press
2011.10.13 03:18 AM
LOS ANGELES – More U.S. homes are entering the foreclosure process, but they're taking longer to be sold or repossessed by lenders.
CNNMoney: Foreclosures continue to plague housing market
Foreclosures continue to plague housing market
By Aaron Smith October 13, 2011: 5:41 AM ET
NEW YORK (CNNMoney) -- Foreclosures continued to plague the U.S. housing market last quarter, while a a growing backlog has caused the length of the foreclosure process to drag on and on.
By Aaron Smith October 13, 2011: 5:41 AM ET
NEW YORK (CNNMoney) -- Foreclosures continued to plague the U.S. housing market last quarter, while a a growing backlog has caused the length of the foreclosure process to drag on and on.
Wednesday, October 12, 2011
WSJ: ECB Chief: Europe Is 'Epicenter' of Crisis
EUROPE NEWS OCTOBER 12, 2011
ECB Chief: Europe Is 'Epicenter' of Crisis
By WILLIAM LAUNDER And TOM FAIRLESS
FRANKFURT—European Central Bank President Jean-Claude Trichet warned Tuesday that the euro-zone crisis has "reached a systemic dimension" and said governments must swiftly push through fiscal reforms and coordinate a recapitalization of banks.
ECB Chief: Europe Is 'Epicenter' of Crisis
By WILLIAM LAUNDER And TOM FAIRLESS
FRANKFURT—European Central Bank President Jean-Claude Trichet warned Tuesday that the euro-zone crisis has "reached a systemic dimension" and said governments must swiftly push through fiscal reforms and coordinate a recapitalization of banks.
CNNMoney: Market's biggest risk? Duh. It's Europe.
Market's biggest risk? Duh. It's Europe.
By Hibah Yousuf October 12, 2011: 7:56 AM ET
NEW YORK (CNNMoney) -- It's been on and off the back burner for a year and a half, but the European debt crisis is finally nearing a boiling point.
By Hibah Yousuf October 12, 2011: 7:56 AM ET
NEW YORK (CNNMoney) -- It's been on and off the back burner for a year and a half, but the European debt crisis is finally nearing a boiling point.
Bloomberg: Wall Street Sees ‘No Exit’ From Financial Decline as Bankers Fret Future
Wall Street Sees ‘No Exit’ From Financial Decline as Bankers Fret Future
By Max Abelson - 2011.10.11 09:00 PM
Wall Street executives, facing demonstrators camped for a fourth week in New York’s financial district, say they’re anxious and angry for other reasons.
By Max Abelson - 2011.10.11 09:00 PM
Wall Street executives, facing demonstrators camped for a fourth week in New York’s financial district, say they’re anxious and angry for other reasons.
Tuesday, October 11, 2011
Reuters: Europe warned of systemic crisis over debt
Europe warned of systemic crisis over debt
By Sakari Suoninen and Martin Santa
FRANKFURT/BRATISLAVA | Tue Oct 11, 2011 6:46am EDT
(Reuters) - Europe's top financial watchdog warned on Tuesday that the euro zone's sovereign debt crisis has become systemic and threatens global economic stability unless decisive action is taken urgently.
By Sakari Suoninen and Martin Santa
FRANKFURT/BRATISLAVA | Tue Oct 11, 2011 6:46am EDT
(Reuters) - Europe's top financial watchdog warned on Tuesday that the euro zone's sovereign debt crisis has become systemic and threatens global economic stability unless decisive action is taken urgently.
Monday, October 10, 2011
Bloomberg: No U.S. Recession as Forecasts Improve
No U.S. Recession as Forecasts Improve
By Rich Miller and Vivien Lou Chen - 2011-10-10 03:34 AM
The U.S. has likely dodged a recession for now, even though it’s too early to sound the all- clear for the economy.
By Rich Miller and Vivien Lou Chen - 2011-10-10 03:34 AM
The U.S. has likely dodged a recession for now, even though it’s too early to sound the all- clear for the economy.
Friday, October 7, 2011
CNNMoney: Not a recession. But who cares?
THE BUZZ
Not a recession. But who cares?
By Paul R. La Monica @CNNMoney October 7, 2011: 12:51 PM ET
NEW YORK (CNNMoney) -- Summer may be over but it's still time to fire up the grill.
Not a recession. But who cares?
By Paul R. La Monica @CNNMoney October 7, 2011: 12:51 PM ET
NEW YORK (CNNMoney) -- Summer may be over but it's still time to fire up the grill.
Thursday, October 6, 2011
CNBC: Mortgage Rates, Mortgage Demand and Home Prices All Fall
Mortgage Rates, Mortgage Demand and Home Prices All Fall
Published: Thursday, 6 Oct 2011 | 11:45 AM ET
By: Diana Olick
CNBC Real Estate Reporter
When mortgage rates first fell below five percent in 2009, we called it an emotional landmark, a level that, while not significantly different from the previous week or month, would send up a flag to borrowers that it was time to buy or at least to refinance.
Published: Thursday, 6 Oct 2011 | 11:45 AM ET
By: Diana Olick
CNBC Real Estate Reporter
When mortgage rates first fell below five percent in 2009, we called it an emotional landmark, a level that, while not significantly different from the previous week or month, would send up a flag to borrowers that it was time to buy or at least to refinance.
REG - RIT Cap. Partners - Investment in Renshaw Bay
http://uk.reuters.com/article/2011/10/06/idUS133098+06-Oct-2011+RNS20111006
REG - RIT Cap. Partners - Investment in Renshaw Bay
Thu Oct 6, 2011 1:59pm BST
* Reuters is not responsible for the content in this press release.
RNS Number : 7116P
RIT Capital Partners PLC
06 October 2011
RIT Capital Partners plc
Investment in Renshaw Bay Ltd
In February 2011, RIT Capital Partners plc ("RIT") announced its intention to participate in the launch of Renshaw Bay in partnership with Bill Winters and Reinet Fund S.C.A. Mr Winters, formerly the Co-Chief Executive of JP Morgan Investment Bank, has established Renshaw Bay as a new asset management and advisory group focusing on capital markets based investment strategies.
REG - RIT Cap. Partners - Investment in Renshaw Bay
Thu Oct 6, 2011 1:59pm BST
* Reuters is not responsible for the content in this press release.
RNS Number : 7116P
RIT Capital Partners PLC
06 October 2011
RIT Capital Partners plc
Investment in Renshaw Bay Ltd
In February 2011, RIT Capital Partners plc ("RIT") announced its intention to participate in the launch of Renshaw Bay in partnership with Bill Winters and Reinet Fund S.C.A. Mr Winters, formerly the Co-Chief Executive of JP Morgan Investment Bank, has established Renshaw Bay as a new asset management and advisory group focusing on capital markets based investment strategies.
Wednesday, October 5, 2011
PIMCO: Six Pac(k)in’
Six Pac(k)in’
- Long-term profits cannot ultimately grow unless they are partnered with near equal benefits for labor.
- There is only a New Normal economy at best and a global recession at worst to look forward to in future years.
- If global policymakers could focus on structural as opposed to cyclical financial solutions, New Normal growth as opposed to recession might be possible.
- Long-term profits cannot ultimately grow unless they are partnered with near equal benefits for labor.
- There is only a New Normal economy at best and a global recession at worst to look forward to in future years.
- If global policymakers could focus on structural as opposed to cyclical financial solutions, New Normal growth as opposed to recession might be possible.
CNNMoney: Greek default is just a matter of time
EUROPE'S DEBT CRISIS
Greek default is just a matter of time
By Ben Rooney @CNNMoney October 5, 2011: 5:39 AM ET
NEW YORK (CNNMoney) -- It was once unthinkable but is now widely expected: Greece is headed toward default.
Greek default is just a matter of time
By Ben Rooney @CNNMoney October 5, 2011: 5:39 AM ET
NEW YORK (CNNMoney) -- It was once unthinkable but is now widely expected: Greece is headed toward default.
Jatropha as alternative fuel a bust
WEDNESDAY OCTOBER 05, 2011 PHILIPPINES
Jatropha as alternative fuel a bust
BY JOHN LOURENZE POQUIZ
The government is set to abandon its program of promoting jatropha as an alternative fuel source, an official said.
Jatropha as alternative fuel a bust
BY JOHN LOURENZE POQUIZ
The government is set to abandon its program of promoting jatropha as an alternative fuel source, an official said.
Tuesday, October 4, 2011
USA Today: Wall Street protesters say they 'want a voice'
Wall Street protesters say they 'want a voice'
By Martha T. Moore, USA TODAY
NEW YORK – Don't ask the protesters sleeping out in a downtown plaza for the list of demands of the Occupy Wall Street movement, which enters its 19th day today. There isn't one, and with labor unions set to join the group today and with groups in other cities from Los Angeles to Louisville starting their own camp-out protests, their specific proposals for change aren't likely to get any clearer soon.
By Martha T. Moore, USA TODAY
NEW YORK – Don't ask the protesters sleeping out in a downtown plaza for the list of demands of the Occupy Wall Street movement, which enters its 19th day today. There isn't one, and with labor unions set to join the group today and with groups in other cities from Los Angeles to Louisville starting their own camp-out protests, their specific proposals for change aren't likely to get any clearer soon.
Monday, October 3, 2011
CNNMoney: Starbucks steps up to the jobs challenge
Starbucks steps up to the jobs challenge
By Catherine Clifford October 3, 2011: 2:18 PM ET
NEW YORK (CNNMoney) -- Starbucks Corp. unveiled a program Monday to help raise money to spur hiring among small businesses.
By Catherine Clifford October 3, 2011: 2:18 PM ET
NEW YORK (CNNMoney) -- Starbucks Corp. unveiled a program Monday to help raise money to spur hiring among small businesses.
Thursday, September 29, 2011
Lack of 'soul' has Docklands tenant ready to leave
Lack of 'soul' has Docklands tenant ready to leave
September 28, 2011
Jason Dowling
ONE of Docklands' cornerstone corporate tenants has threatened to quit, saying infrequent public transport and a lack of ''charisma'' and ''soul'' puts it at risk of losing staff.
http://www.theage.com.au/victoria/lack-of-soul-has-docklands-tenant-ready-to-leave-20110927-1kvgz.html
September 28, 2011
Jason Dowling
ONE of Docklands' cornerstone corporate tenants has threatened to quit, saying infrequent public transport and a lack of ''charisma'' and ''soul'' puts it at risk of losing staff.
http://www.theage.com.au/victoria/lack-of-soul-has-docklands-tenant-ready-to-leave-20110927-1kvgz.html
Tuesday, September 27, 2011
Bloomberg: Roubini: U.S. in Throes of Economic Contraction
Roubini: U.S. in Throes of Economic Contraction
By Liza Horowitz and Matt Winkler
Most advanced economies are lapsing back into recession while the U.S. is already in the throes of an economic contraction, according to Nouriel Roubini, co- founder and chairman of Roubini Global Economics LLC.
By Liza Horowitz and Matt Winkler
Most advanced economies are lapsing back into recession while the U.S. is already in the throes of an economic contraction, according to Nouriel Roubini, co- founder and chairman of Roubini Global Economics LLC.
CNNMoney: Home prices climb for fourth straight month
Home prices climb for fourth straight month
By Les Christie September 27, 2011: 10:47 AM ET
NEW YORK (CNNMoney) -- Home prices in July climbed for the fourth month in a row, but are still down from a year ago.
By Les Christie September 27, 2011: 10:47 AM ET
NEW YORK (CNNMoney) -- Home prices in July climbed for the fourth month in a row, but are still down from a year ago.
NYT: The Nation’s Unemployment Landscape
The Nation’s Unemployment Landscape
The recession and the slow recovery have reshaped the nation’s economic map, with the highest unemployment rates now found in the West and the South. Related Article »
Sources: Bureau of Labor Statistics; Moody’s Analytics
Correction: An earlier version of this graphic misstated the unemployment rate for Massachusetts in June 2009.
The recession and the slow recovery have reshaped the nation’s economic map, with the highest unemployment rates now found in the West and the South. Related Article »
Sources: Bureau of Labor Statistics; Moody’s Analytics
Correction: An earlier version of this graphic misstated the unemployment rate for Massachusetts in June 2009.
NYT: Slump Alters Jobless Map in U.S., With South Hit Hard
Slump Alters Jobless Map in U.S., With South Hit Hard
By MICHAEL COOPER
Published: September 26, 2011
When the unemployment rate rose in most states last month, it underscored the extent to which the deep recession, the anemic recovery and the lingering crisis of joblessness are beginning to reshape the nation’s economic map.
By MICHAEL COOPER
Published: September 26, 2011
When the unemployment rate rose in most states last month, it underscored the extent to which the deep recession, the anemic recovery and the lingering crisis of joblessness are beginning to reshape the nation’s economic map.
Monday, September 26, 2011
CNNMoney: Deflation fears are back
Deflation fears are back
By Chris Isidore @CNNMoney September 26, 2011: 3:15 PM ET
NEW YORK (CNNMoney) -- Suddenly, investors and some economists are worried about deflation once again.
By Chris Isidore @CNNMoney September 26, 2011: 3:15 PM ET
NEW YORK (CNNMoney) -- Suddenly, investors and some economists are worried about deflation once again.
WSJ: Europe Split on Rescue Plan
ECONOMY SEPTEMBER 26, 2011
Europe Split on Rescue Plan
World Urges Swift Action; Germany Opposes Expanded Bailout; Anxiety at IMF
By SUDEEP REDDY,BOB DAVIS and MARCUS WALKER
WASHINGTON—European officials are debating ways to boost the firepower of their financial-bailout fund after the world's finance ministers, worried about the potential for a market meltdown, ratcheted up pressure on euro-zone officials to act.
Europe Split on Rescue Plan
World Urges Swift Action; Germany Opposes Expanded Bailout; Anxiety at IMF
By SUDEEP REDDY,BOB DAVIS and MARCUS WALKER
WASHINGTON—European officials are debating ways to boost the firepower of their financial-bailout fund after the world's finance ministers, worried about the potential for a market meltdown, ratcheted up pressure on euro-zone officials to act.
Sunday, September 25, 2011
Bloomberg: Purchases of New Homes in U.S. Probably Fell to Lowest Level in Six Months
Related News: Real Estate, U.S.
Purchases of New Homes in U.S. Probably Fell to Lowest Level in Six Months
By Shobhana Chandra - Sep 25, 2011 08:01 PM
Purchases of new houses in the U.S. probably declined in August to the lowest level in six months as buyers sought cheaper distressed properties, economists said before a report today.
Purchases of New Homes in U.S. Probably Fell to Lowest Level in Six Months
By Shobhana Chandra - Sep 25, 2011 08:01 PM
Purchases of new houses in the U.S. probably declined in August to the lowest level in six months as buyers sought cheaper distressed properties, economists said before a report today.
Bloomberg: El-Erian Sees Global Economy Slowing Next Year
El-Erian Sees Global Economy Slowing Next Year
By Simon Kennedy, Rich Miller and Gabi Thesing - Sep 25, 2011 06:09 PM PT
Pacific Investment Management Co., which runs the world’s biggest bond fund, is forecasting that advanced economies will stall over the next year as Europe slides into a recession, underscoring mounting investor concern about the global economic outlook.
By Simon Kennedy, Rich Miller and Gabi Thesing - Sep 25, 2011 06:09 PM PT
Pacific Investment Management Co., which runs the world’s biggest bond fund, is forecasting that advanced economies will stall over the next year as Europe slides into a recession, underscoring mounting investor concern about the global economic outlook.
CNNMoney: Euro crisis: three perspectives
EUROPE'S DEBT CRISIS
Euro crisis: three perspectives
By Ben Rooney September 25, 2011: 9:52 AM ET
WASHINGTON D.C. (CNNMoney) -- George Soros, the billionaire hedge fund manager and philanthropist, warned Saturday that failing to resolve the sovereign debt crisis in Europe could lead to a "real meltdown" of the global financial system.
Euro crisis: three perspectives
By Ben Rooney September 25, 2011: 9:52 AM ET
WASHINGTON D.C. (CNNMoney) -- George Soros, the billionaire hedge fund manager and philanthropist, warned Saturday that failing to resolve the sovereign debt crisis in Europe could lead to a "real meltdown" of the global financial system.
Wednesday, September 21, 2011
CNNMoney: The Fed needs a little help from its friends
THE BUZZ
The Fed needs a little help from its friends
http://money.cnn.com/2011/09/21/news/economy/thebuzz/index.htm?iid=HP_River
By Paul R. La Monica @CNNMoney September 21, 2011: 2:42 PM ET
NEW YORK (CNNMoney) -- People like to use the metaphor "pushing on a string" to describe something that's ineffective. After all, you can pull a string. But you can't really push one.
The Fed needs a little help from its friends
http://money.cnn.com/2011/09/21/news/economy/thebuzz/index.htm?iid=HP_River
By Paul R. La Monica @CNNMoney September 21, 2011: 2:42 PM ET
NEW YORK (CNNMoney) -- People like to use the metaphor "pushing on a string" to describe something that's ineffective. After all, you can pull a string. But you can't really push one.
USA Today: Rising rents lessen the affordability of housing
Rising rents lessen the affordability of housing
By Julie Schmit and Barbara Hansen, USA TODAY
More renters found housing unaffordable last year as incomes declined, and more are likely to be squeezed this year, given rising rents.
By Julie Schmit and Barbara Hansen, USA TODAY
More renters found housing unaffordable last year as incomes declined, and more are likely to be squeezed this year, given rising rents.
Tuesday, September 20, 2011
Fortune: How Italy can save itself
How Italy can save itself
http://money.cnn.com/2011/09/20/news/international/italy_downgrade.fortune/index.htm?iid=HP_Highlight
By Cyrus Sanati, contributor @FortuneMagazine September 20, 2011: 10:14 AM ET
FORTUNE -- The surprise downgrade of Italy's sovereign debt overnight by Standard and Poor's exposes the fatal flaws of pushing through draconian austerity measures on a nation experiencing economic weakness.
http://money.cnn.com/2011/09/20/news/international/italy_downgrade.fortune/index.htm?iid=HP_Highlight
By Cyrus Sanati, contributor @FortuneMagazine September 20, 2011: 10:14 AM ET
FORTUNE -- The surprise downgrade of Italy's sovereign debt overnight by Standard and Poor's exposes the fatal flaws of pushing through draconian austerity measures on a nation experiencing economic weakness.
Monday, September 19, 2011
CNNMoney: Greek default: What it would mean
Greek default: What it would mean
http://money.cnn.com/2011/09/19/news/international/greek_default/index.htm?iid=Lead
By Chris Isidore @CNNMoney September 19, 2011: 4:45 PM ET
NEW YORK (CNNMoney) -- Experts agree it's almost certain that Greece will not be able to pay all of its debts. But if the country does default, what happens next?
http://money.cnn.com/2011/09/19/news/international/greek_default/index.htm?iid=Lead
By Chris Isidore @CNNMoney September 19, 2011: 4:45 PM ET
NEW YORK (CNNMoney) -- Experts agree it's almost certain that Greece will not be able to pay all of its debts. But if the country does default, what happens next?
Saturday, September 17, 2011
CNNMoney: Hundreds of protesters descend to 'Occupy Wall Street'
Hundreds of protesters descend to 'Occupy Wall Street'
By Julianne Pepitone @CNNMoneyTech September 17, 2011: 7:07 PM ET
NEW YORK (CNNMoney) -- Hundreds of demonstrators took to the streets of Manhattan's financial district on Saturday in a largely peaceful protest aimed at drawing attention to the role powerful financial interests played in wreaking havoc on America's economy.
By Julianne Pepitone @CNNMoneyTech September 17, 2011: 7:07 PM ET
NEW YORK (CNNMoney) -- Hundreds of demonstrators took to the streets of Manhattan's financial district on Saturday in a largely peaceful protest aimed at drawing attention to the role powerful financial interests played in wreaking havoc on America's economy.
Thursday, September 15, 2011
CNNMoney: IMF chief: Advanced economies crushed by debt
IMF chief: Advanced economies crushed by debt
http://money.cnn.com/2011/09/15/news/economy/world_debt_lagarde/index.htm?iid=HP_River
By Jennifer Liberto @CNNMoney September 15, 2011: 10:26 AM ET
WASHINGTON (CNNMoney) -- International Monetary Fund Managing Director Christine Lagarde sounded the alarm Thursday that global economies are in a "dangerous phase," in her first major speech in Washington since taking over as fund chief.
http://money.cnn.com/2011/09/15/news/economy/world_debt_lagarde/index.htm?iid=HP_River
By Jennifer Liberto @CNNMoney September 15, 2011: 10:26 AM ET
WASHINGTON (CNNMoney) -- International Monetary Fund Managing Director Christine Lagarde sounded the alarm Thursday that global economies are in a "dangerous phase," in her first major speech in Washington since taking over as fund chief.
Wednesday, September 14, 2011
CNNMoney: Europe's debt crisis: 5 things you need to know
Europe's debt crisis: 5 things you need to know
http://money.cnn.com/2011/09/08/markets/europe_debt_crisis_/index.htm?iid=HP_River
By Ben Rooney September 14, 2011: 12:17 PM ET
NEW YORK (CNNMoney) -- It's been about 18 months since the sovereign debt crisis in Europe began attracting attention in global financial circles.
http://money.cnn.com/2011/09/08/markets/europe_debt_crisis_/index.htm?iid=HP_River
By Ben Rooney September 14, 2011: 12:17 PM ET
NEW YORK (CNNMoney) -- It's been about 18 months since the sovereign debt crisis in Europe began attracting attention in global financial circles.
Thursday, September 8, 2011
Daily Caller: Newt Gingrich in debate: I’d fire Ben Bernanke as fed chairman
The Daily Caller
Newt Gingrich in debate: I’d fire Ben Bernanke as fed chairman
Published: 10:15 PM 09/07/2011
Former House Speaker Newt Gingrich said he would fire Federal Reserve Chairman Ben Bernanke if elected president in 2012.
Newt Gingrich in debate: I’d fire Ben Bernanke as fed chairman
Published: 10:15 PM 09/07/2011
Former House Speaker Newt Gingrich said he would fire Federal Reserve Chairman Ben Bernanke if elected president in 2012.
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