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Wall St. slides in volatile week, eyes on the Fed
ReutersNEW YORK (Reuters) - Stocks fell on Friday on low volume to end their third negative week in four on lingering concern over whether the world's central banks will soon start to trim their stimulus programs. Uncertainty about the longevity of loose...Tags: Belo Corporation, Entertainment, Banking, NASDAQ, Pandora Media, Inc.
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Detroit to stop paying some debt, putting it in default
ReutersDETROIT (Reuters) - Detroit said on Friday it would stop making payments on some of its about $18.5 billion debt, which would put it in default, and the "insolvent" city called on most of its creditors to accept pennies on the dollar to help it avoid...Tags: Bankruptcy, Quarterly or Semiannual Financial Statements, National Government, Marketing, Assured Guaranty Limited
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Indonesia MPs back budget package that would allow fuel price hikes
ReutersJAKARTA (Reuters) - Indonesian parliamentarians gave their backing to budget revisions that pave the way for long delayed cuts in fuel price subsidies, blamed for sapping the budget and undermining confidence in Southeast Asia's biggest economy. The...Tags: Finance, Economy, Business and Finance, Jakarta (Indonesia), Politics, Indonesia
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Singapore punishes 20 banks in benchmark rate review
ReutersSINGAPORE (Reuters) - Singapore's central bank censured a record 20 banks on Friday after it found more than 100 traders in the city state tried to rig key borrowing and currency rates. The probe by the Monetary Authority of Singapore (MAS) marks the...Tags: United Kingdom, ING Group, Australia, Central Bank, Banking
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O.C. toll road agency could keep fees through 2053
The leaders of Orange County's toll road network on Thursday approved a $2.4-billion bond sale to refinance one of its highway corridors — a move that would probably extend the number of years drivers must pay to use the system. The planned...
Tags: Finance, Politics, Economy, Business and Finance, Elections, California Department of Transportation
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Analysis: India is Asia's weakest link in QE-driven rout
ReutersSINGAPORE (Reuters) - India is emerging Asia's canary in the 'hot money' mine. As financial markets sell off on concerns over rising U.S. rates, what happens in India, an economy with slowing growth and a heavy dependence on foreign money, could well...Tags: Indonesia, Malaysia, ING Group, Hong Kong, Economic Policy
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California home prices hit five-year high, sales increase as well
California home prices climbed to a five-year high last month and sales increased as well, placing increased momentum behind the state’s housing recovery. The median sales price for a home rose 25.9% from last year to hit $340,000 in May, real...
Tags: Prices, Homes, Services and Shopping, Real Estate, Foreclosures
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Native Americans decry eagle deaths tied to wind farms
ReutersBy Laura Zuckerman June 13 (Reuters) - A Native American tribe in Oklahoma on Thursday registered its opposition to a U.S. government plan that would allow a wind farm to kill as many as three bald eagles a year despite special federal protections...Tags: Demographics, Conservation, Environmental Issues, U.S. Department of the Interior, Politics
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China estimates fake trade invoicing at $75 billion in Jan-April - report
ReutersSHANGHAI, June 14 (Reuters) - Fake invoicing inflated China's official import and export totals by $75 billion in the first four months of 2013, local media reported on Friday, citing an internal review by China's commerce ministry. An alternate estimate...Tags: China
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GLOBAL MARKETS-Asian shares recover after bruising selloff, sentiment still fragile
Reuters* MSCI Asia ex-Japan rises 1.4 pct, Nikkei jumps after sharp sell-off * Markets respond to upbeat US data, but sentiment still fragile ahead of Fed meeting * Dollar stays volatile vs yen as position unwinding continues By Chikako Mogi TOKYO, June 14...Tags: Central Bank, Shinzo Abe, Nikkei, Japan, Money and Monetary Policy
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Detroit creditors brace for haircuts, or worse, at meeting to avoid bankruptcy
ReutersDETROIT, June 14 (Reuters) - Detroit's creditors will begin to learn on Friday morning what they can recover without driving the financially troubled city into bankruptcy when the city's emergency manager unveils his restructuring plan. Manager Kevyn Orr...Tags: Moody's Corporation, Bankruptcy, Labor Legislation, MBIA Incorporated, Credit and Debt
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Investors favor non-agency mortgages, bank loans amid rate rise
ReutersCHICAGO (Reuters) - Money managers touted the advantages of non-agency mortgage securities and bank loans on Thursday on expectations that housing prices will accelerate and interest rates will rise. Yields on non-agency mortgages, which are mortgage...Tags: Chicago Mortgages, Mortgages, Morningstar Incorporated, Financial Markets, Finance
Jun 14, 2013
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