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Jan 13, 2011

Two cities set for homes tax Property buyers in two mainland cities are bracing for taxes. | Financial And Forex Info News | The Standard | Business | Finance

Financial & Forex Info News


 
        
                          

Two cities set for homes tax
Property buyers in two mainland cities are  bracing for taxes.

                                                                                                   

14/ 01/ 2011
East Rail fare hike on hold amid setbacks
Tumble marks weakest debut in months
South Korea hikes rates as Europe stays steady
Bank chief warns on fund-raising snub -
Firm hand needed
Two cities set for homes tax
Lower MPF fees on the horizon
13/ 01/ 2011
Yuankee dollars
Benchmark sails past 24,000
Spinoff to bring in CASH
Cement maker sets the pace
Bank lendings hit 600b yuan
Taiwan group wins AIG's Nan Shan Life


Banks Entering 'Golden Age' With 20% Profit Growth: Bove | CNBC Evening Brief


LATEST STORIES


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See how retail icon, Target, took aim at product, profit and power...making cheap- chic. "Target: Behind the Bullseye" reveals how Target became both tastemaker and discount retailer extraordinaire while continually reminding its customers to "Expect More, Pay Less." Premieres Tonight at 9PM.
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To rent or buy? It may soon be cheaper to buy. | MarketWatch : Personal Finance Daily :

MarketWatch
Personal Finance Daily
JANUARY 13, 2011

Thursday's Personal Finance Stories

By MarketWatch



Don't miss these top stories:
Bad news for renters. Because home builders and developers are not building enough multifamily buildings even to replace those lost to disasters and destruction, let alone account for expected growth in demand, apartment rents are expected to rise at a double-digit rate in coming years.
Why growing demand? A rise in renter-age households, and those who've been foreclosed out of ownership, plus the fact that even people who want to buy a home can't get a mortgage, as Steve Kerch notes in his story today on the rental market.

Read his story for more on what's ahead for renters, plus see our video for a look at what retirees should be doing with the money they have stashed in their 401(k), and read Kristen Gerencher's blog for the latest trouble brewing for the health-care safety net known as Medicaid.

Will higher rents entice more people to buy a home? Maybe there is a group of fence-sitters out there who will decide to buy if rents rise further and the cost equation works out in favor of buying in their neighborhood. But many people who rent are simply not in the position to buy — kids just out of college, for instance — so it's probably no big boon to the housing market.

Andrea Coombes , Personal Finance editor

REAL ESTATE

Double-digit rent hikes are on the way

Apartment dwellers face double-digit rent hikes in the coming years as a shortage of new multifamily units gives landlords the upper hand.
Read more: Double-digit rent hikes are on the way.


Mortgage rates fall in latest week

The housing market continues to face headwinds from weak employment and a supply glut.
Read more: Mortgage rates fall in latest week.


With foreclosures, bad 2010 to be followed by worse 2011

A record number of households received a foreclosure notice last year. Banks took possession of a record number of homes.
Listen to podcast: With foreclosures, bad 2010 to be followed by worse 2011.


RETIREMENT

Should retirees keep savings in their 401(k) plan?

Boomers start turning 65 this year and, as they retire, some leave money in their workplace 401(k) plan. Is that a smart move? Maybe, says Donn Hess, head of product development with J.P. Morgan Retirement Plan Services.
 Watch video: Should retirees keep savings in their 401(k) plan?


HEALTH CARE

Health-care safety net could fray

Even with states scrambling for money to cover their budgets during the recession, two government-financed health programs run by the states continued to provide health coverage to millions of children in low-income families who otherwise couldn't afford health insurance, and some states even expanded their offerings, a new report found.
Read more: Health-care safety net could fray.


FAMILY FINANCE

Five tips for parents to start the new year right

These five strategies can help parents bond with their teens — and help them build their finances, says Jennifer Openshaw.
Read more: Five tips for parents to start the new year right.


TRAVEL

Technology strains airline–travel agent relations

After five years of development, direct-connect technology is making old-time reservation providers redundant — and nervous.
Read more: Technology strains airline–travel agent relations.


Winter blizzard grounded 6,000 flights

Snow and freezing rain along the U.S. eastern seaboard earlier this week forced airlines to cancel more than 6,000 flights.
Read more: Winter blizzard grounded 6,000 flights.


A step-by-step guide to business travel

You know the type: They live out of rolling suitcases, have their car company on speed dial, virtually unlimited Internet connectivity in airports, and never seem to take more than fifteen minutes to go from the sidewalk to a seat on the plane.
Read more: A step-by-step guide to business travel.


THE JOB MARKET

U.S. jobless claims jump 35,000 to 445,000

The number of U.S. workers who filed new applications for jobless benefits jumped 35,000 last week to 445,000, the highest level in more than two months, as a government official attributed the sharp increase largely to administrative backlogs.
Read more: U.S. jobless claims jump 35,000 to 445,000.


ECONOMY & POLITICS

Small business lending to increase: Bernanke

Lending to small businesses should pick up this year, two of the nation's top banking regulators said Thursday.
Read more: Small business lending to increase, Bernanke says.


Geithner warns of future bailouts

Treasury Secretary Timothy Geithner warned that the U.S. government may have to bail out major financial institutions again if there's a crisis as big as the last one, according to a report released Thursday by a group overseeing the Troubled Asset Relief Program.
Read more: Geithner warns of future bailouts.


CFTC proposes stricter commodity limits

The Commodity Futures Trading Commission proposed Thursday limiting the number of commodity futures and option contracts that any investor can hold in energy, agriculture or metals derivatives, seeking to curb speculation and potential manipulation.
Read more: CFTC proposes stricter commodity limits.


Commentary: Will Giffords shooting end Palin's career?

The tragic shootings in Tucson could end Sarah Palin's political career if she continues to be the poster child for inflammatory speech.
Read more: Will Giffords shooting end Palin's career?


Contrarian forecast for 2011

Neal Lipschutz bets that real progress will be made in the U.S. at the federal and state levels on reducing large, structural budget deficits.
Read more: Contrarian forecast for 2011


U.S. wholesale prices up 1.1% in December

Wholesale prices climb 1.1% in December, led by increases in gas and vegetables costs, while the core rate for producer prices ticks up 0.2%..
Read more: U.S. wholesale prices up 1.1% in December.


Auto rescue ‘promising' but still risky: watchdog

The Treasury Department's support for the auto industry appear to be "promising" but still may prove loss making and create the risk of moral hazard, a government watchdog said Thursday.
Read more: Auto rescue ‘promising' but still risky: watchdog.


U.S. trade gap narrows unexpectedly in November

Commerce Department data confound expectations, showing the U.S. trade deficit narrowing in November to $38.3 billion from a revised $38.4 billion for October.
Read more: U.S. trade gap narrows unexpectedly in November.


S&P, Moody's caution on U.S. debt

Two leading credit rating agencies Thursday warned the U.S. on its credit rating.
Read more: S&P, Moody's caution on U.S. debt.


INVESTING

Investing in drugs that promote longevity

Is there a way to invest in, and profit from, current efforts to discover or develop a compound to extend human life? Yes, and no.
Read more: Investing in drugs that promote longevity.


Trading trends should lead to long-term thinking

With the average holding time for stocks just 22 seconds, a longer-term view may hold more potential for retail investors.
Read more: Trading trends should lead to long-term thinking.


No need to run as retail money returns

U.S. stocks have finally been feeling a bit of love from retail investors who had shunned them for eight straight months. It's far from a sign of irrational exuberance.
Read more: No need to run as retail money returns.


Top three investment letters had age in common

The top three performing investment letters for 2010 were all edited by octogenarians, but will this last?
Read more: Top three investment letters had age in common.


The best biotech stocks to own now

Biotechnology stocks have been strong performers over the past 18 months, and there's still plenty of room for upside.
Read more: The best biotech stocks to own now.


WEATHER REPORT

Brisbane floodwater peaks below estimate

Floodwaters peak in Brisbane but don't reach their maximum forecast levels, offering some relief to home and business owners in Australia's third-largest city.
Read more: Brisbane floodwater peaks below estimate.


INTERNATIONAL NEWS

Debt tensions ease as Spain, Italy sell bonds

Signs of tension in European credit markets ease somewhat after Spain and Italy conduct separate bond auctions, on the heels of a similar debt sale by Portugal.
Read more: Debt tensions ease as Spain, Italy sell bonds.


Trichet says ECB watching inflation

European Central Bank President Jean-Claude Trichet offers no guidance on the scope of the bank's bond-buying program, but boosts the euro after emphasizing that policy makers will keep a close watch on inflation pressures.
Read more: Trichet says ECB watching inflation.

China frees yuan for offshore investment | Financial & Forex Info News | The Australian Business Briefing

Financial & Forex Info News





China frees yuan for offshore investment
aus bus pix yuan Shen Hong CHINA has launched a pilot program to let domestic companies take Chinese currency overseas to make investments.
 
Disaster worsens skills crisis
disater worsens Scott Murdoch and Tracy Lee THE $20 billion task of rebuilding Brisbane and southeast Queensland could exacerbate the national skills crisis and labour shortages.
 
Crude oil slips despite weaker greenback
oil Jerry A. DiColo CRUDE oil futures settled lower overnight as traders brushed off a weakening US dollar and concerns faded about oil supply disruptions.
 
Santos to poach fly-in mine workers
Santos Matt Chambers SANTOS plans to poach workers who commute from the east coast to the big resource projects of Western Australia.
 
Flood insurers hit by profit downgrade
Suncorp Teresa Ooi CREDIT Suisse yesterday downgraded earnings forecasts for two of the biggest insurers in Queensland.
 
Big telcos braced for $50m repair bill
Telstra Mitchell Bingemann THE nation's major telecommunications companies are facing a bill in excess of $50 million and three months of build time.
 
Oswal hits back over $20m 'goodwill offer'
Pankaj Oswal Andrew Burrell BESIEGED Indian tycoon Pankaj Oswal says he offered to inject $20 million into Burrup Fertilisers.
 
Financial Markets
Gold steady amid soft US jobless data
gold Matt Whittaker GOLD finished near-steady as European-debt worries eased and a jump in US jobless claims was not as dire as originally thought.
 
Crude oil slips despite weaker greenback
Dollar higher after brush with parity
 
Financial Markets Coverage
 
Mining & Energy
Gold steady amid soft US jobless data
gold Matt Whittaker GOLD finished near-steady as European-debt worries eased and a jump in US jobless claims was not as dire as originally thought.
 
Crude oil slips despite weaker greenback
Aluminium supply halted
 

Financial & Forex Info News | KITCO - New York Metal Market Close





New York Market Close Jan 13/11 05:20 PM EST
Metals
Bid
Ask
Change
Low
High
Gold
1374.00
1375.00
-14.00
-1.01%
1368.60
1394.10
Silver
28.74
28.76
-0.91
-3.07%
28.51
29.81
Platinum
1801.00
1807.00
0.00
0.0%
1786.00
1835.00
Palladium
805.00
811.00
-4.00
-0.49%
802.00
828.00

NYT: Afternoon Business News .- Can Europe be Save - by Paul Krugman



BUSINESS
Magazine Preview

Can Europe Be Saved?

By PAUL KRUGMAN
Is there any way to save Europe's democracies from sinking together in the ill-conceived currency union?

Spain Passes Debt Test With Bond Sale

By RAPHAEL MINDER
Demand was strong for nearly $4 billion of five-year Spanish bonds, easing immediate concerns about the ability of the euro zone's weakest members to raise funds.

Europe Inquiry Focuses on Google Business Practice

By JAMES KANTER
Antitrust investigators are asking advertisers if Google ever tied increased spending to improved visibility.
DealBook

Proposal to Curb Speculative Trading Advances

By BEN PROTESS
The plan would set trading curbs in more than two dozen commodities.

Renault Files Criminal Complaint in Spying Case

By DAVID JOLLY
The announcement comes a few days after Renault held disciplinary hearings as a prelude to dismissing three suspended executives.

Intel Q4 revenue up 8 percent | Financial & Forex Info News | Daily Investor Update

Financial & Forex Info News


From:   Reuters- Daily Investor Update


LATEST NEWS
Intel Q4 revenue up 8 percent
SAN FRANCISCO (Reuters) - Intel Corp posted an 8 percent increase in fourth-quarter revenue and forecast revenue of $11.1 billion to $11.9 billion in the first three months of 2011. | Full Article

Merck, materials companies drag Wall Street lower
January 13, 2011 04:34 PM ET
NEW YORK (Reuters) - Stocks edged lower on Thursday, hurt by a slide in drugmaker Merck and as falling commodities prices hit shares of natural resource companies. | Full Article
Dimon, Gorman, Moynihan pitch for AIG share sale
January 13, 2011 01:27 PM ET
NEW YORK (Reuters) - Some of the United States' top bankers descended on a law firm in midtown Manhattan on Thursday to make a pitch for managing what could be one of the largest share sales in history -- a secondary offering for bailed-out insurer American International Group Inc. | Full Article
Judge approves $7.2 billion deal for Madoff investors
January 13, 2011 01:49 PM ET
NEW YORK (Reuters) - A U.S. judge approved a $7.2 billion settlement on Thursday to pay former customers of the Madoff firm, the largest yet in the worldwide search for money lost in Bernard Madoff's multibillion-dollar Ponzi scheme. | Full Article
Bernanke says joblessness to linger despite growth
January 13, 2011 04:27 PM ET
ARLINGTON, Virginia (Reuters) - The outlook for the U.S. economy has brightened, Federal Reserve Chairman Ben Bernanke said on Thursday, though he warned that growth this year won't be strong enough to bring down the jobless rate as speedily as policy makers would like. | Full Article

Stocks May Open Slightly Lower After Slew Of Mixed Data - U.S. Commentary | RTTNews -Morning Market Briefing


Morning Market Briefing Thu Jan 13  2011

Commentary

Jan 13, 2011 Stocks May Open Slightly Lower After Slew Of Mixed Data - U.S. Commentary Stocks are likely to see light selling at the open on Thursday, as the markets are parsing through a mixed batch of economic data, including a weekly jobless claims number that came in higher than expected. The major index futures are currently all negative, with the Dow futures down by 20 points. Full Article

Economic News

Jan 13, 2011 Australian Dec. Jobless Rate Lowest Since January 2009; Job Growth Anemic Australia's unemployment rate reached its lowest level since January 2009 in the final month of 2010, a report from the Australian Bureau of Statistics showed Thursday. Full Article
Jan 13, 2011 ECB Retains Key Rate At Record Low The European Central Bank retained its key interest for the 20th consecutive month on Thursday. This was the first meeting after Estonia joined the currency bloc at the beginning of the year. Full Article
Jan 13, 2011 U.S. Producer Prices Rise More Than Expected In December Producer prices in the U.S. increased by more than expected in the month of December, according to a report released by the Labor Department on Thursday, with the price growth due in large part to a jump in energy prices. Full Article
Jan 13, 2011 U.S. Trade Deficit Unexpectedly Narrows In November With the value of U.S. exports increasing at a faster rate than the value of U.S. imports in the month of November, the Commerce Department released a report on Thursday showing that the U.S. trade deficit for the month unexpectedly narrowed compared to October. Full Article
Jan 13, 2011 UK Nov. Manufacturing Output Growth Tops Expectations British manufacturing output grew more than expected in November, providing strong support to the fourth quarter economic growth. Full Article
Jan 13, 2011 Bank Of Korea Raises Rates To 2.75%The members of the Bank of Korea monetary policy board on Thursday unanimously decided to raise interest rates by 25 basis points to 2.75 percent. Full Article
Jan 13, 2011 Japan November Machinery Orders -3.0% On MonthCore machinery orders in Japan were down a seasonally adjusted 3.0 percent in November compared to the previous month, the Cabinet Office said on Thursday. Full Article
Jan 13, 2011 BoE Keeps Rate On Hold Despite rising inflationary pressure stemming from sales tax hike, the Bank of England opted to hold its key rate at an all time low. Policy makers also left the size of quantitative easing unchanged at GBP 200 billion. Full Article
Jan 13, 2011 UK Nov. Manufacturing Output Growth Tops ExpectationsBritish manufacturing output grew more than expected in November, providing strong support to the fourth quarter economic growth. Full Article
Jan 13, 2011 BoE Keeps Rate On HoldDespite rising inflationary pressure stemming from sales tax hike, the Bank of England opted to hold its key rate at an all time low. Full Article

Earnings News

Jan 13, 2011 Infosys Q3 Profit Rises, Tops EstimatesIndia-based IT-enabled business solutions provider Infosys Technologies Ltd. (INFY) Wednesday announced a 18.9% increase in third-quarter net profit corresponding to a 28.7% revenue growth. Earnings per ADS exceeded expectations. The company raised its fiscal 2011 outlook, but issued a cautious outlook on industry growth. Full Article
Jan 13, 2011 Williams-Sonoma Dec. Comps Rise 5%; Raises Q4, FY10 guidanceSpecialty home products retailer Williams-Sonoma, Inc. (WSM) Thursday said December comparable-store sales rose 5%, thanks to “positive consumer response” and e-commerce channel growth. The company has, consequently, upped its revenues and earnings outlook for the fourth-quarter and fiscal 2010. Full Article

Corporate News

Jan 13, 2011 AIG expects recapitalization to complete Jan 14American International Group Inc. (AIG) Wednesday said that the company along with the Treasury Department, the New York Federal Reserve and the AIG Credit Facility Trust have agreed that AIG's recapitalization will close January 14. AIG can now distribute nearly 75 million warrant dividends, each enabling the AIG stockholder to buy 1 share of AIG stock for $45, starting January 19. Full Article
Jan 13, 2011 Marathon to spin-off Upstream, Downstream OpsMarathon Oil Corp. (MRO) Thursday reported that its Board has approved the spin-off of the downstream segment into independently-trading Marathon Petroleum Corporation, which will trade under the ticker MPC. Marathon Oil will continue as an upstream business after the split, which is expected to take effect June 30 this year. Full Article
Jan 13, 2011 AT&T sees $2.7 bln pre-tax charge in Q4 on accounting method changeAT&T Inc. (T) Thursday filed an accounting method change with the SEC, pursuant to which the company will recognize actuarial gains and losses relating to pensions annually instead of amortizing them over many years. Also, adjustments for actuarial assumptions such as actual return on assets and changes in benefit plan discount rates will be recorded annually in the fourth quarter. Consequently, the company expects a pre-tax charge of $2.7 billion in fourth-quarter 2010. Full Article
Jan 13, 2011 Exco Resources Mulls CEO Miller's Acquisition OfferExco Resources Inc. (XCO) , an oil and natural gas company, Thursday reported that a special committee of independent directors would consider strategic alternatives, including selling the company. One offer under discussion is CEO and Chairman Douglas Miller's earlier unsolicited offer to acquire all outstanding Exco shares at $20.50 per share, the company said. Full Article

Broker Ratings Changes

Jan 13, 2011 FBR Capital Markets Raises AFLAC Inc (AFL) To Outperform From Market Perform With $69 Up From $59 Price Target

Todays WS Events

Jan 13, 2011 Novellus Systems To Present At Needham Conference; Webcast At 10:40 AM ET Novellus Systems Inc. (NVLS) will present at the 13th Annual Needham Growth Conference. The event is scheduled to begin at 10:40 AM ET, January 13, 2011. To access the live webcast, log on to www.novellus.com
Jan 13, 2011 Urban Outfitters To Present At ICR Xchange Conference; Webcast At 4:15 PM ET Urban Outfitters Inc. (URBN) will present at Integrated Corporate Relations Xchange Investor Conference in Dana Point, CA. The event is schedule to begin at 4:15 PM ET, January 13, 2011. To access the live webcast, log on to http://investor.urbn.com/phoenix.zhtml?p=irol-eventDetails&c=115825&eventID=3654556
Jan 13, 2011 Intel Q4 10 Earnings Conference Call At 5:30 PM ET Intel Corporation (INTC) will host a conference call at 5:30 PM ET, January 13, 2011, to discuss its Q4 10 earnings result. To access the live webcast, log on to www-waa-akam.thomson-webcast.net/us/dispatching/?event_id=f9d8a9469a0a9ec3fc2ff193605b1b1d&portal_id=55f8ee39ca6387e24b2513fefbcd7379

Financial & Forex Info News | Reuters - Before The Bell

Financial & Forex Info News


FROM REUTERS BEFORE THE BELL


LATEST NEWS
Stock futures flat ahead of jobless data, Intel results
NEW YORK (Reuters) - U.S. stock index futures were little changed on Thursday, coming off a broad rally in the previous session, as investors looked ahead to labor market data and results from Intel, the first major technology company to report. | Full Article

Banks to meet on AIG, recap to close this week
January 13, 2011 07:55 AM ET
NEW YORK (Reuters) - Banks will meet in New York City Thursday to make their case for the right to sell the U.S. Treasury's stake in American International Group, three people familiar with the matter said Wednesday. | Full Article
U.S. currency legislation less of a threat for China
January 13, 2011 07:35 AM ET
WASHINGTON (Reuters) - U.S. legislation pressing for a rise in the yuan currency looms as less of a threat for China on the eve of President Hu Jintao's visit to Washington, now that Republicans control one house of Congress. | Full Article
ECB keeps rates at 1 percent, to face crisis grilling
January 13, 2011 07:52 AM ET
FRANKFURT (Reuters) - The European Central Bank will face a grilling on its assessment of the euro zone debt crisis and firming price pressures in the bloc after it left interest rates on hold at 1 percent on Thursday. | Full Article
U.S criticized over Chrysler Financial settlement
January 13, 2011 01:14 AM ET
WASHINGTON (Reuters) - The U.S. Treasury may not have fully vetted the settlement of its interest in Chrysler Financial last year and not gotten a strong enough return for taxpayers, a bailout watchdog said in a report on Thursday. | Full Article

US TOP NEWS
Home foreclosures in 2010 top 1 million for first time
January 13, 2011 06:51 AM ET
WASHINGTON (Reuters) - Banks seized more than a million U.S. homes in one year for the first time last year, despite a slowdown in the last few months as questions around foreclosure processing arose, a leading firm said on Thursday. | Full Article
Banks to meet on AIG, recap to close this week
January 12, 2011 06:17 PM ET
NEW YORK (Reuters) - Banks will meet in New York City Thursday to make their case for the right to sell the U.S. Treasury's stake in American International Group, three people familiar with the matter said Wednesday. | Full Article
Obama leads mourning of Arizona shooting victims
January 13, 2011 06:56 AM ET
TUCSON, Arizona (Reuters) - President Barack Obama mourned victims of an Arizona shooting spree on Wednesday and urged Americans not to let a political debate over the tragedy be used as "one more occasion to turn on one another." | Full Article
Bond auctions, package plan ease euro jitters
January 13, 2011 07:32 AM ET
MADRID (Reuters) - Spain followed Portugal with a successful debt sale on Thursday and investors showed growing confidence that governments would agree bold new measures to stem the euro zone's debt crisis. | Full Article
Hariri to lead caretaker government in Lebanon
January 13, 2011 05:34 AM ET
BEIRUT (Reuters) - Lebanon's president asked Saad al-Hariri to stay on as caretaker prime minister on Thursday after Hezbollah ministers and their allies resigned in a dispute over an investigation into the killing of Hariri's father. | Full Article