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Updated: 8 weeks 6 days ago

Breaking News - New Limits on Overseas Corporate Tax Avoidance . . .

Fri, 21/02/2014 - 00:37
Eleua - for WSJ articles that come up like this, you just have to Google the article title:

"White House to Propose New Limits on Overseas Corporate Tax Avoidance"

Some sites like WSJ & NYT try to hobble the linkee thing, but they still want their articles to be read by the average Internet surfer who's not very Web savvy.

If they did the dog in the manger thing with those people, their views would drop off quickly from fed-up non-technical types.

addendum:

After reading the article, the differences between peasant law and corporate law are interesting. For instance, we don't see the Dick-tater-And-Chief threatening to "use his pen" on these companies. It's all wrapped in "Congress is arguing about this stuff, so they can't do anything".

No edicts or WH markups in the margins of the already signed laws. Fascinating.
Categories: Economic News

Breaking News - New Limits on Overseas Corporate Tax Avoidance . . .

Thu, 20/02/2014 - 21:39
Page unavailable
Categories: Economic News

Breaking News - February Philadelphia Fed Index in at -6.3

Thu, 20/02/2014 - 20:04
That'll buff right out.
Categories: Economic News

Breaking News - February Philadelphia Fed Index in at -6.3

Thu, 20/02/2014 - 19:11
According to this, New Orders and Shipments were way down while INVENTORIES actually INCREASED.

Not to mention that prices paid went up more than prices received during this period and the average employee workweek went way down.

About the only bit of good news in this report is the slight increase in the number of employees.
Categories: Economic News

Breaking News - Your Daily Greek Update. SAVED or not SAVED?

Thu, 20/02/2014 - 16:33
FTW - Greece Might Need EU40b Bailout to Cover Needs to 2030: Bruegel.\!!!!!!
Categories: Economic News

Breaking News - February Philadelphia Fed Index in at -6.3

Thu, 20/02/2014 - 15:45
Enjoy the hilarity...
Categories: Economic News

Breaking News - February Philadelphia Fed Index in at -6.3

Thu, 20/02/2014 - 15:36
market jumped on that .. bad is good again .. even though the FED said they wont budge from tapering .. nothing makes sense anymore .. it hasn't in while ..
Categories: Economic News

Breaking News - February Philadelphia Fed Index in at -6.3

Thu, 20/02/2014 - 15:20
Philadelphia Fed Release:

http://www.philadelphiafed.org/research-....

Partial quote:

Quote:February 2014 Business Outlook Survey

Manufacturing activity was reduced in February, according to firms responding to this months Business Outlook Survey. The surveys broadest indicators for general activity, new orders, and shipments suggest moderate declines this month, but comments suggested that much of the weakness was attributable to the severe winter weather that affected the region during the survey period. Firms continued to add to their payrolls, but average work hours fell. Despite the weakness in current indicators, many of the survey's indicators of future activity improved this month, reflecting optimism about continued growth over the next six months.

Indicators Suggest Reduced Activity This Month

The surveys broadest measure of manufacturing conditions, the diffusion index of current activity, decreased from a reading of 9.4 in January to -6.3 this month (see Chart). This was the first negative reading of the index in nine months. The current shipments and new orders indexes also weakened this month. The demand for manufactured goods, as measured by the current new orders index, decreased from a reading of 5.1 to -5.2 this month. Shipments also fell, with its index falling 22 points to a reading of -9.9. Firms reported longer delivery times and an increase in inventories.

Labor market indicators were mixed this month. The current employment index remained positive for the eighth consecutive month but declined 5 points from January. More firms (21 percent) reported increases in employment than reported decreases (16 percent). Firms reported reduced work hours; however, the average workweek index remained negative for the second consecutive month, with more than one-fifth of the firms reducing work hours.

Cost increases were slightly less widespread this month among reporting firms: The prices paid index decreased 5 points, to 14.2. But with respect to firms own manufactured goods, price increases were slightly more widespread this month: The prices received index increased 3 points, to 7.6.

First Quarter Production Will Increase Modestly

In supplemental questions this month, firms were asked about the state of underlying demand for their manufactured goods (excluding seasonal effects) since the beginning of the year (see Special Questions). Over 45 percent of the firms characterized the demand as increasing, while 19 percent indicated it was decreasing. The largest percentage (43 percent) indicated that demand had increased modestly. Firms were also asked to provide estimates of production growth for the first quarter. Significantly more firms indicated that production would increase in the first quarter (55 percent) than indicated it would decrease (28 percent), and the average growth for the reporting firms was 0.5 percent. Over half of the firms indicated that production growth would represent an acceleration compared with the fourth quarter.

Firms also remain optimistic about the growth of overall manufacturing activity for the next six months. This month, the future general activity index increased 6 points, from a relatively high reading of 34.4 in January, to 40.2 (see Chart). Indexes for future new orders and shipments also remained at relatively high levels, with nearly half of the firms expecting increases in both over the next six months. The future employment index was virtually unchanged at 16.5, with nearly 27 percent of the firms expecting increased employment over the next six months.

Summary

The February Business Outlook Survey suggests that activity in the regions manufacturing sector decreased moderately this month, which was mostly attributable to the winter storms that blanketed much of the region during the first few weeks of the month. Firms reported decreases in overall activity, new orders, shipments, and average work hours in February. But overall, employment among the firms continued to increase, and firms expect production to rise modestly during the first quarter. The surveys future activity indexes indicate that firms expect continued growth over the next six months.

Philadelphia Fed Complete Writeup (.pdf):

http://www.philadelphiafed.org/research-....
Categories: Economic News

Breaking News - January Leading Economic Index in at +0.3%

Thu, 20/02/2014 - 15:06
Econoday was looking for a reading of +0.2%.

Conference Board Release:

http://www.conference-board.org/data/bci....
Categories: Economic News

Breaking News - February Philadelphia Fed Index in at -6.3

Thu, 20/02/2014 - 15:03
Econoday was looking for a reading of +8.0.

Categories: Economic News

Breaking News - Weekly Jobless Claims in at 336K

Thu, 20/02/2014 - 13:49
Econoday was expecting a reading of 335K claims.

DoL Release:

http://www.dol.gov/opa/media/press/eta/u....

Partial quote:

Quote:UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending February 15, the advance figure for seasonally adjusted initial claims was 336,000, a decrease of 3,000 from the previous week's unrevised figure of 339,000. The 4-week moving average was 338,500, an increase of 1,750 from the previous week's unrevised average of 336,750.

The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending February 8, an increase of 0.1 percentage point from the prior week's revised rate. The advance number for seasonally adjusted insured unemployment during the week ending February 8 was 2,981,000, an increase of 37,000 from the preceding week's revised level of 2,944,000. The 4-week moving average was 2,959,750, a decrease of 6,500 from the preceding week's revised average of 2,966,250.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 323,151 in the week ending February 15, a decrease of 35,008 from the previous week. There were 351,026 initial claims in the comparable week in 2013.

The advance unadjusted insured unemployment rate was 2.6 percent during the week ending February 8, unchanged from the prior week. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,440,333, a decrease of 12,426 from the preceding week. A year earlier, the rate was 2.9 percent and the volume was 3,668,711.

The total number of people claiming benefits in all programs for the week ending February 1 was 3,525,006, an increase of 7,100 from the previous week. There were 5,581,677 persons claiming benefits in all programs in the comparable week in 2013.
Categories: Economic News

Breaking News - January CPI in at +0.1%; Less Food & Energy +0.1%

Thu, 20/02/2014 - 13:45
Econoday was looking for readings of +0.1% and +0.2%, respectively.

BLS Release:

http://bls.gov/news.release/cpi.nr0.htm


CONSUMER PRICE INDEX - JANUARY 2014

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent
in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics
reported today. Over the last 12 months, the all items index increased 1.6
percent before seasonal adjustment.

Increases in the indexes for household energy accounted for most of the
all items increase. The electricity index posted its largest increase since
March 2010, and the indexes for natural gas and fuel oil also rose sharply.
These increases more than offset a decline in the gasoline index, resulting
in a 0.6 percent increase in the energy index.

The index for all items less food and energy also rose 0.1 percent in January.
A 0.3 percent increase in the shelter index was the major contributor to the
rise, but the indexes for medical care, recreation, personal care, and tobacco
also increased. In contrast, the indexes for airline fares, used cars and trucks,
new vehicles, and apparel all declined in January. The food index rose slightly
in January. The index for food at home rose 0.1 percent, with major grocery
store food groups mixed.

The all items index increased 1.6 percent over the last 12 months; this compares
to a 1.5 percent increase for the 12 months ending December. The index for all
items less food and energy has also risen 1.6 percent over the last 12 months.
The energy index has risen 2.1 percent over the span, and the food index has
increased 1.1 percent.

Table A. Percent changes in CPI for All Urban Consumers (CPI-U): U.S. city
average


Seasonally adjusted changes from
preceding month
Un-
adjusted
12-mos.
July Aug. Sep. Oct. Nov. Dec. Jan. ended
2013 2013 2013 2013 2013 2013 2014 Jan.
2014


All items.................. .2 .1 .1 .0 .1 .2 .1 1.6
Food...................... .1 .1 .0 .1 .1 .0 .1 1.1
Food at home............. .1 .1 .0 .0 .0 .0 .1 .5
Food away from home (1).. .2 .2 .1 .1 .3 .1 .1 2.0
Energy.................... .2 -.4 .3 -.9 -.4 1.6 .6 2.1
Energy commodities....... .7 -.4 -.1 -1.5 -.8 2.6 -.5 .5
Gasoline (all types).... .8 -.5 -.2 -1.6 -.8 2.6 -1.0 .1
Fuel oil (1)............ 1.1 1.2 .9 -.6 .4 2.4 3.7 2.0
Energy services.......... -.6 -.5 .8 .1 .0 .1 2.2 4.5
Electricity............. -.1 -.1 .5 .2 .5 .4 1.8 4.4
Utility (piped) gas
service.............. -2.1 -1.8 1.6 -.5 -1.5 -1.0 3.6 4.9
All items less food and
energy................. .2 .1 .1 .1 .2 .1 .1 1.6
Commodities less food and
energy commodities.... .0 .0 -.1 -.1 .0 .0 -.1 -.3
New vehicles............ .0 .0 .1 -.1 -.1 .0 -.3 .0
Used cars and trucks.... -.4 -.1 .3 .4 .3 .0 -.5 1.5
Apparel................. .6 .2 -.4 -.4 -.1 .4 -.3 -.3
Medical care commodities .2 .3 .2 .3 .1 -.6 .5 .8
Services less energy
services.............. .2 .2 .2 .2 .3 .1 .2 2.3
Shelter................. .2 .2 .2 .1 .3 .2 .3 2.6
Transportation services .5 -.3 .2 .4 .3 -.4 .1 1.2
Medical care services... .2 .6 .3 .0 .0 .2 .2 2.5

1 Not seasonally adjusted.



Consumer Price Index Data for January 2014

Food

The food index rose 0.1 percent in January. The food at home index increased 0.1
percent, with the major grocery store food group indexes mixed. Three of the six
increased, including the indexes for cereals and bakery products and for dairy
and related products, which both rose 0.5 percent. The index for meats, poultry,
fish, and eggs also increased, rising 0.4 percent. In contrast, the fruits and
vegetables index declined in January, falling 0.3 percent, while the index for
nonalcoholic beverages fell 0.2 percent. The index for other food at home was
unchanged in January. The food index has risen 1.1 percent over the past year,
with the food at home index up 0.5 percent. The index for meats, poultry, fish,
and eggs has risen 3.3 percent over the last 12 months. The index for cereals
and bakery products has also risen over that span, but the other major grocery
store food group indexes have declined. The index for food away from home rose
0.1 percent in January and has increased 2.0 percent over the last 12 months.


Energy

The energy index rose 0.6 percent in January as a decline in the gasoline index
was more than offset by increases in household energy components. The
electricity index rose 1.8 percent, its largest increase since March 2010. The
index for natural gas also rose sharply, increasing 3.6 percent, and the fuel oil
index increased 3.7 percent. The gasoline index, which rose in December, fell 1.0
percent in January. (Before seasonal adjustment, gasoline prices rose 1.4 percent
in January.) The energy index has increased 2.1 percent over the last year, with
all major components posting increases, though the gasoline index has increased
only 0.1 percent.


All items less food and energy

The index for all items less food and energy rose 0.1 percent in January. The
shelter index rose 0.3 percent, with the indexes for rent and owners' equivalent
rent both rising 0.2 percent, and the index for lodging away from home advancing
1.3 percent. The medical care index rose 0.3 percent in January. The index for
medical care commodities advanced 0.5 percent as the prescription drug index rose
0.6 percent. The index for medical care services increased 0.2 percent. The
recreation index rose 0.2 percent, as did the index for personal care. The
tobacco index increased 0.7 percent, its largest increase since July. In contrast
to these increases, the index for airline fares fell sharply in January, declining
2.2 percent. The index for used cars and trucks fell 0.5 percent. The new vehicles
index declined as well, falling 0.3 percent. The apparel index, which rose in
December, also declined 0.3 percent. The index for household furnishings and
operations was unchanged in January.

The index for all items less food and energy has risen 1.6 percent over the last
12 months; this is the smallest 12-month change since June. The shelter index has
risen 2.6 percent over the last 12 months, while the medical care index has risen
2.1 percent. The indexes for airline fares and apparel have both declined over the
last year.




Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.6 percent
over the last 12 months to an index level of 233.916 (1982-84=100). For the month,
the index rose 0.4 percent prior to seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W)
increased 1.6 percent over the last 12 months to an index level of 230.040
(1982-84=100). For the month, the index rose 0.4 percent prior to seasonal
adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) increased 1.4
percent over the last 12 months. For the month, the index rose 0.4 percent on a not
seasonally adjusted basis. Please note that the indexes for the post-2012 period
are subject to revision.


The Consumer Price Index for February 2014 is scheduled to be released on Tuesday,
March 18, 2014, at 8:30 a.m. (EDT).

Categories: Economic News

Breaking News - Facebook Inc buying WhatsApp in US$19-billion deal

Thu, 20/02/2014 - 04:53
Like I said....

Categories: Economic News

Breaking News - Facebook Inc buying WhatsApp in US$19-billion deal

Thu, 20/02/2014 - 04:44
Wait a minute, WhatsApp is obsolete, I never redownloaded it after I got my new phone. FaceFart bought it at the beginning of its decline.
Categories: Economic News

Breaking News - Facebook Inc buying WhatsApp in US$19-billion deal

Thu, 20/02/2014 - 03:41
Congrats to all the early investors who found a bigger bagholder and made out like bandits on this deal
Categories: Economic News

Breaking News - Facebook Inc buying WhatsApp in US$19-billion deal

Thu, 20/02/2014 - 03:28
Hey Zuck, I'll sell you these for $1 million:
Categories: Economic News

Breaking News - Facebook Inc buying WhatsApp in US$19-billion deal

Thu, 20/02/2014 - 02:21
Mr. Grenade is not your friend when the pin has been pulled.
Categories: Economic News

Breaking News - Facebook Inc buying WhatsApp in US$19-billion deal

Thu, 20/02/2014 - 01:11
Wow. Must be nice to spend all that free money... Good deal for shareholders I'm sure... yikes. So KD, genius move by Zucks eh?

http://business.financialpost.com/2014/0....

Facebook Inc. continued its quest to position itself as a mobile-first company on Wednesday when it revealed a deal to acquire WhatsApp Inc. for a shocking value of US$19-billion in cash and stock.

cont...
Categories: Economic News

Breaking News - FOMC Minutes

Thu, 20/02/2014 - 00:19
Fed Backs Away From Rate Threshold as Unemployment Declines
Joshua Zumbrun and Craig Torres, 2014 Bloomberg News
Published 2:24 pm, Wednesday, February 19, 2014
http://www.sfgate.com/business/bloomberg....

St. Louis Fed President James Bullard says he wants to get rid of the numerical unemployment threshold completely (not because it's fake, is it, Jim?).

What a load of dog squeezins.

Looks like the rate increase is where the danger lies.
Categories: Economic News