CNN Money: The Warren Buffett-hedge fund bet tightens

The Warren Buffett-hedge fund bet tightens
April 26, 2011 5:00 am

Berkshire Hathaway's chairman won the 2010 race for investment returns, but Protégé Partners retains the long-term lead.

By Carol Loomis, senior editor-at-large

FORTUNE -- We're three years into Warren Buffett's 10-year bet with the hedge fund community, and the race has narrowed. For the second year in a row, Buffett's horse in the contest -- an S&P 500 index fund -- did better than the average return booked by five funds of hedge funds picked by Protégé Partners LLC, a New York money-management firm.

Bloomberg: Biggest Banks Beating Estimates Can’t Hide 13% Drop in Revenue

Related News: Italy · U.S.
Biggest Banks Beating Estimates Can’t Hide 13% Drop in Revenue
By Dawn Kopecki - Apr 26, 2011 9:01 AM GMT+0900

The biggest percentage drop in quarterly revenue in three years, driven by lower lending and reduced fees, is damping investor appetite for shares of the six largest U.S. banks.

Reuters: A fragile global recovery?

A fragile global recovery?

By Kristina Cooke
NEW YORK | Sun Apr 24, 2011 5:16pm EDT

(Reuters) - Data on how the U.S. and British economies fared in the first three months of the year due next week will likely highlight the tenuous nature of the recovery from recession in developed countries.

S&P: U.S. Consumer Defaults Fall In March. Existing Home Sales Rise

U.S. Consumer Defaults Fall In March. Existing Home Sales Rise (00:18:36 min)

The Standard & Poor's/Experian consumer default composite index fell to 2.43% in March from 2.54% in February. All the major sectors, such as bank cards, auto loans, and first and second mortgages, reported declines. As for U.S. housing, sales of existing homes increased 3.7% in March following a significant decline of 8.9% February. In this podcast, Standard & Poor's Senior Director Erkan Erturk discusses the significance of these statistics and how they could affect the structured finance and housing sectors.

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CNN Money: Europe at the precipice

Europe at the precipice
Posted by Colin Barr
April 22, 2011 4:33 am

Here's an unhappy early Easter thought: The financial crisis is about to be reborn in Europe.

Is the euro a basket case?

Bondholders are bracing as Greece, Portugal and Ireland come to grips with huge debts and sinking economic prospects. Rumors have a Greek restructuring happening as soon as this weekend, though analysts at Goldman Sachs say next year is more likely.

Bloomberg: Economic Outlook Brightens on Leading Indicators, Confidence

Related News: Economy · U.S. · Municipal Bonds
Economic Outlook Brightens on Leading Indicators, Confidence
By Alex Kowalski and Timothy R. Homan - Apr 22, 2011 5:36 AM GMT+0900

The index of U.S. leading indicators increased for a ninth month in March and Americans’ confidence rose for a fourth week, signaling the expansion may withstand higher fuel costs.

S&P: Why Italian Banks Face A Tricky Recovery

Why Italian Banks Face A Tricky Recovery (00:15:32 min)

Italy's banks are slowly digging out of one of the deepest recessions in the past half century, as the country's GDP declined a cumulative 6% in 2008-2009. But banks are climbing over difficult and new terrain, such as persistently slow domestic economic growth, much higher prices for wholesale funding due to sovereign credit worries in the eurozone, and tougher capital rules in the run-up to Basel III. In this podcast, Standard & Poor's credit analyst Renato Panichi provides an in-depth look at the situation and what could lie ahead.

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WSJ: Asia Central Banks Intervene As Currencies Climb

ASIA BUSINESS|APRIL 20, 2011, 6:43 A.M. ET
Asia Central Banks Intervene As Currencies Climb

By MARTIN VAUGHAN

Agence
France-Presse
/Getty Images

SINGAPORE—Central banks in South Korea, Thailand and Malaysia intervened Wednesday to slow a surge in their currencies in a broad Asian rally that carried the Singapore and Australian dollars to fresh highs against the U.S. currency.

WSJ: China Plans Tax Cut for Low Earners

ASIA NEWS|APRIL 20, 2011, 8:44 A.M. ET
China Plans Tax Cut for Low Earners

By AARON BACK

A Beijing worker
washes a window

BEIJING—China plans to cut taxes on low-income earners and raise them somewhat for the rich under new legislation expected to pass shortly, one effort to address a widening income gap thought to threaten the country's social stability.

Reuters: Gold breaks $1,500 as investors seek security

Gold breaks $1,500 as investors seek security

By Jan Harvey
LONDON | Wed Apr 20, 2011 4:12pm EDT

(Reuters) - Gold rose above $1,500 an ounce on Wednesday for the first time ever as the dollar wilted, oil rose, worries over the U.S. economic outlook boosted demand for the metal as a haven and rising inflation lifted Asian demand.