NewsRack: 'Financial Markets' news in 'US Economy' topic for user newstrust

ECB's Draghi: Europe's banking reform must include agency to wind down busted banks	24.5.2013	Star Tribune: World

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Weak yen a help for Japan, but headache elsewhere	22.5.2013	AP Business
TOKYO (AP) -- A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan's main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world's third-largest economy. It's not such good news for entrepreneurs like Thamonwan Thawornthaweewong, whose Angry Bird fish balls, squid rings and other products now cost more to sell in Japan....
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Dimon hangs on to chairman, CEO titles at JPMorgan	22.5.2013	Chicago Tribune: Nation
Dimon hangs on to chairman, CEO titles at JPMorgan
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Eurozone crisis live: 'Severe' economic weakness in Southern Europe, warns Vodafone	21.5.2013	The Guardian -- World Latest
Latest figures from mobile giant Vodafone underline the economic crisis in Spain and Italy Graeme Wearden
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You're the Boss Blog: This Week in Small Business: Gordon Ramsay Calling!	20.5.2013	NY Times: Business
You're the Boss Blog: This Week in Small Business: Gordon Ramsay Calling!
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IMF says Cyprus at risk of even deeper recession	17.5.2013	AP Business
WASHINGTON (AP) -- The International Monetary Fund said Friday that substantial risks still loom for the Cypriot economy even after a multi-billion dollar international bailout aimed at averting a debt default....
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World stocks mostly higher ahead of US economic indicators for April	17.5.2013	Star Tribune: World

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The Shadow Derivatives Market Lives On	16.5.2013	American Prospect
Tomorrow, the public interest will take a loss and the largest banks will chalk up a win. The shadow market for derivatives was a t the heart of the financial crisis. By far, the largest component of this market was the $60 trillion per year swaps market, with more than $700 trillion of swaps outstanding. Compare that with the 2012 U.S. GDP of about $15 trillion. These markets influence interest rates, currency values, credit costs, share values, and commodities, including food, fuel and precious and base metals. The shadow market was oligopolistic and became a goldmine for the big banks. Almost all swaps have a bank on one side. And the Office of the Comptroller of the currency has consistently found that four banks hold well over 90 percent of all derivatives. As would be expected in such a large oligopolistic market, bank profits have been staggering. Financier Bertrand de Pallieres has estimated that two-thirds of all trading revenues come from derivatives. This has syphoned ...
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International Monetary Fund warns on quantitative easing costs	16.5.2013	The Guardian -- World Latest
Eonomists at the IMF found the Bank of England could sustain losses of anything up to 5.5% of GDP, or almost £80bn, when it sells the government bonds back into the market The Bank of England's recession-busting policy of quantitative easing could end up costing the Treasury up to £80bn – more than outweighing any profits it will make from the scheme, according to new research by the International Monetary Fund. Policymakers have become increasingly concerned about their "exit strategy" from the unprecedented measures they have used to cushion their economies from the impact of the financial crisis over the past five years. In a study of the impact of "unconventional" policies, including the Bank's £375bn bond-buying programme, economists at the IMF found the Bank could sustain losses of anything up to 5.5% of GDP, or almost £80bn when it sells the government bonds back into the market. The Treasury announced last November it would appropriate the interest payments from the Bank's ...
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Today's Economist: Simon Johnson: The Myth of a Perfect Orderly Liquidation Authority for Big Banks	16.5.2013	NY Times: Business
Today's Economist: Simon Johnson: The Myth of a Perfect Orderly Liquidation Authority for Big Banks
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You're the Boss Blog: This Week in Small Business: Small Data	13.5.2013	NY Times: Business
You're the Boss Blog: This Week in Small Business: Small Data
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Eurozone crisis live: Finance ministers gather as tensions rise in Spain	13.5.2013	The Guardian -- World Latest
Eurogroup will decide today whether to approve aid tranches for Greece and Cyprus Graeme Wearden
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Bernanke: ‘Shadow banking,’ other financial sectors still pose risks	10.5.2013	Washington Post
Federal Reserve Chairman Ben S. Bernanke on Friday defended the central bank’s ability to shield the economy from another financial crisis but warned that risks remained in the lightly regulated “shadow banking” system. ...
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Unions to Banks: Pay Up	9.5.2013	American Prospect
AP Photo/Keystone, Steffen Schmidt R ebecca Sandoval hasn't had a raise for six years. She and other home-care workers who work for the state of Oregon and are represented by Local 503 of the Service Employees International Union (SEIU) make $10.20 an hour to assist people with disabilities and senior citizens, like the 99-year-old woman Sandoval cares for. The state froze wages at 2007 levels to help offset a yawning $855 million budget shortfall caused by the financial crisis. Almost every year since then, Sandoval says, it has further cut back hours, leaving workers with the choice to leave some of their clients' needs unmet or to work for free. "You can't rush a 99-year-old woman with any aspect of her daily living," she says. Members of Local 503 in different professions have seen similar wage freezes and cutbacks. James Jacobson got a layoff notice after 16 years as an office worker at the University of Oregon's college of education; budget ...
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From skeptic to oracle, 4 views on where stocks are headed next	9.5.2013	Salt Lake Tribune
the Associated Press Published May 8, 2013 06:18PM MDT New York • The Dow Jones industrial average closed above 15,000 for the first time Tuesday and finished up nearly another 50 points on Wednesday. An improving outlook for the economy and record corporate earnings are persuading investors to buy stocks. Federal Reserve stimulus is also a big influence. The Dow has gained 15 percent this year. It has more than doubled since hitting a bottom at 6,547 on March 9, 2009 during the Great Recession. Broader indexes have gained, as well, here and abroad.... ...
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Drumbeat: May 8, 2013	8.5.2013	The Oil Drum
Shale Oil and Gas: The Contrarian View No one is questioning the fact that we have either reached or will soon reach “peak oil”; that existing fields are being depleted at the rapid rate of 7 percent a year, and that the search is on for “unconventional oil” as alternative forms of energy are slow to reach critical mass. There are many kinds of “unconventional oil” – meaning hydrocarbons that are not found in fluid form, but that can be “fluidised” in a straightforward way (unlike coal, for instance). These resources include Venezuelan heavy oil and Canadian tar sands. But the big change in the last two decades is shale gas and “tight oil” – a liquid, trapped in shale (rock), where it doesn’t flow naturally but can be extracted by horizontal drilling and “fracking”. Fracking uses high-pressure water to fracture the shale and then chemicals that reduce the viscosity of the oil trapped in the interstices of the rock and allow it to flow. After working 37 years in the coal mines of West ...
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What's next for stocks? Experts weigh in after the Dow closes above 15,000 for the first time	8.5.2013	Star Tribune: Nation

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Dow closes above 15,000 for first time; what next?	8.5.2013	AP Business
NEW YORK (AP) -- The Dow Jones industrial average closed above 15,000 for the first time Tuesday....
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Dow closes above 15,000 for first time; what next?	8.5.2013	Twincities.com: Nation
NEW YORK—The Dow Jones industrial average closed above 15,000 for the first time Tuesday. An improving outlook for the economy and record
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Dow Jones sets new high in closing above 15,000	8.5.2013	The Guardian -- World Latest
Investor confidence drives stock markets to record highs but rally comes amid mixed signals from the wider US economy The Dow Jones Industrial Average closed above 15,000 for the first time Tuesday as investor confidence in the US's economic recovery drove stock markets to record highs. The leading stock market index closed a fraction below 15,000 on Monday but set a new high Tuesday in what has become the fastest start to any year since the raging bull market of 1999. At the close, the blue-chip index stood at 15,056.20, a gain of 87.31 points on the day. So far this year the Dow has risen close to 2,000 points this year – or 14% – while rival indexes the S&P and Nasdaq have soared more than 13% each. The S&P 500 closed at 1,625.96 Tuesday, its fourth straight record close. The new peak comes just three months after the Dow passed 14,000 for the first time since 2007. Tuesday's rally followed positive news from Germany, where better than expected factory output figures similarly drove ...
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