_Economy and Finance

permianbasin360.com Parallel Petroleum Welcomes Samsung C&T By: Mycah Glover Updated: February 28, 2012 MIDLAND -- Deals are made in the Permian Basin oil and gas industry everyday, but not deals like this. Samsung C&T, a trading arm of Samsung Group, agreed to purchase Midland-based Parallel Petroleum from Apollo Global Management last year. Today, representatives from the Korean-based company traveled thousands of miles to formally announce their newest venture in the oil and gas business.

Bloomberg Descending Treasury Yield Signals Slowing U.S. By John Detrixhe and Daniel Kruger - 2012.02.28 08:29 PM The $10 trillion market for U.S. Treasuries is signaling that the economic recovery may be poised to weaken even as consumer confidence rises toward pre-recession levels.

Bloomberg U.S. Consumer Sentiment Climbs Toward ’08 Levels By Timothy R. Homan - 2012.02.28 01:28 PM Consumer-confidence measures are climbing out of the depths reached during the last recession as employers step up hiring and stocks rally, signaling Americans may be poised to increase spending.

Reuters PIMCO's Gross shifts to defensive investment model By Manuela Badawy NEW YORK | Tue Feb 28, 2012 2:56pm EST (Reuters) - It's time for defense, says Bill Gross, manager of the world's largest bond fund. Gross, manager of PIMCO's $250 billion Total Return bond fund (PTTRX.O), used American football as a metaphor for his investment model in his March newsletter. He wrote that he has turned defensive as he watches out for potential downside risks and warns about the government's increased demand on available capital in the economy.

CNNMoney Throwing cash at the housing market will make it worse By Nin-Hai Tseng, writer-reporter February 28, 2012: 11:42 AM ET Nearly half of current homeowners buying new homes by the end of 2012 are expected pay in cash, and that's not a good thing for home prices. FORTUNE – In today's troubled housing market, it's all about the Benjamins. Home prices are at a 9-year low, and it should come as no surprise. For the past three years, tighter lending standards and record foreclosures have driven an unusually higher number of homebuyers to pay for discounted properties in cash. The bulk has come from investors eyeing fixer uppers, as well as foreign buyers armed with wads of cash for properties from California to Miami.

http://www.bloomberg.com/news/2012-02-27/krugman-says-greece-running-out-of-alternatives-to-euro-exit.html Greece Running Out of Alternatives: Krugman By Anabela Reis - Feb 27, 2012 4:01 PM Nobel-prize winning economist Paul Krugman said Greece is “close” to having no option but to quit the euro as austerity measures imposed on the nation hamper its economic recovery.

http://www.usatoday.com/money/perfi/stocks/story/2012-02-26/stock-market-bears-doomsayers/53259742/1 3 doomsaying experts who foresee economic devastation ahead By Adam Shell, USA TODAY NEW YORK – Behind the mainstream Wall Street happy talk about more stable financial markets and an improving economy are grim warnings of tough times ahead from a small cadre of doomsayers who warn that the worst of the financial crisis is still to come.

http://www.bloomberg.com/news/2012-02-27/pending-sales-of-existing-homes-in-u-s-increase-a-more-than-estimated-2-.html Pending U.S. Home Resales Show Housing Market Regaining Footing: Economy By Shobhana Chandra - 2012.02.27 08:39 AM More Americans than forecast signed contracts to buy previously owned homes in January, indicating the industry that sparked the last recession is improving.

http://www.usatoday.com/money/economy/housing/story/2012-02-27/january-pending-home-sales/53268806/1 Home sales contracts rise 2% in Jan. By Derek Kravitz, Associated Press WASHINGTON – The number of Americans who signed contracts to buy homes rose in January to the highest level in nearly two years, supporting the view that the housing market is gradually coming back.

http://www.usatoday.com/money/story/2012-02-27/business-economists-forecast/53268208/1 Business economists see continued slow growth overall By Samantha Bomkamp, Associated Press NEW YORK – Economists are increasingly confident that some pillars of the U.S. economy will improve this year, but they remain cautious in their expectations on the overall pace of economic growth.

http://money.cnn.com/2012/02/27/news/economy/debt_ceiling/index.htm America's Debt Challenge Debt ceiling fight may come sooner than expected By Jeanne Sahadi @CNNMoney February 27, 2012: 6:24 AM ET NEW YORK (CNNMoney) -- Remember the bitter debt ceiling debate in Washington last summer? The one that resulted in the first-ever downgrade of the U.S. credit rating?

http://finance.fortune.cnn.com/2012/02/25/buffett-on-housing/?iid=HP_LN Buffett on housing: Was "dead wrong," but still believes By Stephen Gandel, senior editor February 25, 2012: 8:00 AM ET Warren Buffett says "hormones" will save the housing market. But this time he's not saying exactly when. FORTUNE -- In his annual letter to Berkshire Hathaway (BRKA) shareholders, which was released on Saturday, Buffett says he still believes a real estate recovery is on the horizon. Yet, the Oracle of Omaha admits that on housing his crystal ball has been cloudy. Last year, Buffett said the real estate market would recover in 2011 or early 2012. While home sales have risen recently, it would be a stretch to call the past year a recovery, and Buffett doesn't try. "I was dead wrong," he writes.

http://www.bloomberg.com/news/2012-02-24/sales-of-new-homes-in-u-s-probably-increased-to-highest-in-nine-months.html Sales of New Homes in the U.S. Probably Climbed to Highest in Nine Months By Shobhana Chandra - 2012.02.23 09:01 PM Purchases of new homes in the U.S. probably rose in January to a nine-month high, more evidence the housing market is improving, economists said before a report today.

http://online.wsj.com/article/SB10001424052970204880404577224363238679298.html?mod=rss_economy EUROPE NEWS FEBRUARY 16, 2012 Europe Economies Contract Germany, Others Saw Fourth-Quarter Decline but Drops Were Smaller Than Expected By BRIAN BLACKSTONE FRANKFURT—Economic activity fell across much of the debt-plagued euro zone in the final quarter of 2011, with contractions stretching from fragile Greece to mighty Germany.

http://www.reuters.com/article/2012/02/17/us-usa-housing-defaults-idUSTRE81G04M20120217 Foreclosure abuse rampant across U.S., experts say By Tim Reid LOS ANGELES | Thu Feb 16, 2012 8:57pm EST LOS ANGELES (Reuters) - A report this week showing rampant foreclosure abuse in San Francisco reflects similar levels of lender fraud and faulty documentation across the United States, say experts and officials who have done studies in other parts of the country.

http://www.bloomberg.com/news/2012-02-16/u-s-stock-futures-fall-as-moody-s-puts-bank-of-america-goldman-on-review.html U.S. Stocks Rise on Economic Data By Rita Nazareth - Feb 17, 2012 6:37 AM GMT+0900 U.S. stocks advanced, sending the Standard & Poor’s 500 Index near the highest level in about three years, amid better-than-estimated economic reports and optimism that Greece will receive a second bailout.

http://money.cnn.com/2012/02/15/real_estate/housing_affordability/index.htm?iid=HP_River Home buying: Most affordable in decades By Les Christie @CNNMoney February 16, 2012: 10:05 AM ET NEW YORK (CNNMoney) -- Buying a home is now more affordable than it has been in the last twenty years.

http://www.bloomberg.com/news/2012-02-13/multifamily-buildings-to-lead-u-s-construction-gains-this-year-economy.html Related News: Economy · U.S. · Real Estate Multifamily Buildings to Lead U.S. Construction Gains: Economy By Bob Willis - 2012.02.13 07:46 AM Construction of multifamily units will lead the U.S. building industry again this year, allowing housing to contribute to growth for the first time in seven years, according to economists Michelle Meyer and Celia Chen.

http://online.wsj.com/article/SB10001424052970204883304577220940888898860.html ECONOMY FEBRUARY 13, 2012, 10:19 A.M. ET. OECD Hints at Developed-Economy Recovery By PAUL HANNON LONDON—The world's developed economies may be set to emerge from several months of slowdown, led by the U.S. and Japan, according to the Organization for Economic Cooperation and Development.

Distressed real estate fundraising could break new record by Taina Rosa | Published February 10, 2012 at 2:04 PM Related's latest fund drew a slew of institutions, including University of Michigan Board of Regents, which committed $35 million, the Texas County & District Retirement System, with $30 million of commitments, and Siguler Guff & Co. LP's Distressed Real Estate Opportunity Fund, with a $100 million-plus outlay, a source confirmed. http://www.thedeal.com/content/real-estate/distressed-real-estate-fundraising-could-break-new-record.php

http://www.usatoday.com/money/economy/housing/story/2012-02-09/homebuilder-optimism/53032330/1 Home builders and investors both see signs of a turn By Tim Mullaney, USA TODAY Barb Jandric, the head of Minnesota's biggest real estate broker, hasn't seen the Minneapolis market boost sales without government aid in six years — until a narrow gain in 2011. Ryland Chief Executive Larry Nicholson hasn't seen a yearly profit since before the recession, but the home builder expects one this year, buoyed by a 31% increase in homes on order at year's end.

http://money.cnn.com/2012/02/08/real_estate/foreclosure_inventory/index.htm?iid=HP_River Homes in foreclosure decline by 130,000 By Les Christie @CNNMoney February 8, 2012: 9:07 AM ET NEW YORK (CNNMoney) -- Slowly, but surely, the foreclosure crisis seems to be abating.

Oil and gas basins of Kazakhstan The oil & gas basins of Kazakhstan can be grouped into four revealed or prospective oil & gas provinces in the Republic of Kazakhstan. Exploration in those provinces in which oil and gas has already been extracted had, by 2010, led to the discovery of more than 200 oil, gas, oil-and-gas and condensate hydrocarbon accumulations. Of these, the Kashagen, the Tengiz and the Karachaganak fields can be considered giants.

http://money.cnn.com/2012/02/02/news/economy/bernanke_congress_europe/index.htm?iid=HP_LN Eyes on the Fed Bernanke: Fed will protect U.S. economy from Europe By Annalyn Censky @CNNMoney February 2, 2012: 1:21 PM ET NEW YORK (CNNMoney) -- The recovery remains "frustrating slow" in the United States, and now Europe's debt crisis is posing additional challenges, Federal Reserve Chairman Ben Bernanke told Congress Thursday.

http://www.costar.com/ Back in Business: CRE Sales Volumes Make Strong Comeback Just Like the Old Days, Deal Flow Returns to Historical Levels By Mark Heschmeyer February 1, 2012 The dollar volume of commercial real estate sales vaulted back to longterm historical levels in 2011. CoStar Group has confirmed $291.6 billion in CRE sales in 2011, a 32% increase over the sales volume in 2010.

Deutsche Bank nears £210m Merry Hill shopping centre CMBS closure By James Wallace - Wednesday, February 01, 2012 15:00 Deutsche Bank will imminently close the £210m single loan Merry Hill commercial mortgage-backed securitisation (CMBS), in a deal sold on both sides of the Atlantic, CoStar News can reveal. http://www.costar.co.uk/en/assets/news/2012/January/Deustche-Bank-nears-210m-Merry-Hill-shopping-centre-CMBS-closure/