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Jan 18, 2011

Foreign investors closer to yuan use / operations in Hong Kong and the mainland. | Financial & Forex Info News | The Standards Business | Finance

Financial & Forex Info News






Hutch eyes US$6b in ports spinoff Hutchison Whampoa (0013) - the conglomerate controlled by Li Ka-shing - is spinning off its port operations in Hong Kong and the mainland.






19/ 01/ 2011
Foreign investors closer to yuan use
Huge demand for Telefield as Baofeng lags
SFC boss defends accounting rules
Market lauds plan to sell debt paper
Hutch eyes US$6b in ports spinoff
Revenue slump mars Citigroup earnings
Buy on dips as bullish outlook prevails
Asia ratings set to remain stable

18/ 01/ 2011
Debate rages on Europe crisis fund
Inflation turns main concern
Timing key on homes
Telefield taps strong demand
M&A activity set to surge
Consumer picks face fight
Loan growth to come by size in mainland -
Bank reserves seen too high
Home prices keep rising

Apple Results Top Targets; Shares Jump to Record High | CNBC Evening Bref



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# With Jobs on leave, will Apple shares stay healthy? | MarketWatch ersonal Finance Daily

MarketWatch

Personal Finance Daily
JANUARY 18, 2011

Tuesday's Personal Finance Stories

By MarketWatch




Don't miss these top stories:

Investors in Apple Inc. have much to mull over, not least the question of how important Steve Jobs is to the company's ongoing success, and whether it can continue to sparkle on the strength of its hugely popular products alone.

But as Brett Arends writes in his column, plenty of other tech companies with excellent products have stumbled for want of the right leader at the helm. Read Arends's column today for more on Apple (AAPL) and its outlook — and what it means for investors.

Plus, read Chuck Jaffe for a look at why investors should stick to mutual funds in which the fund manager invests his or her own money, and see why a majority of Americans say now is a good time to buy a home.

Investor in Apple or not, we can all wish Jobs a speedy recovery.

Andrea Coombes , Personal Finance editor

REAL ESTATE


Many Americans say it's a good time to buy a home

Sixty-seven percent of Americans say that now is a good time to buy a house, according to a recent Gallup poll. That's down slightly from 72% who said the same in 2010 and 71% who said the same in 2009.
Read more: Many Americans say it's a good time to buy a home.


Fannie regulator wants changes to servicer pay

The regulator for government-controlled mortgage giants Fannie Mae and Freddie Mac says it is looking at different compensation models for mortgage servicers that would help make it easier to modify mortgages for troubled borrowers.
Read more: Fannie regulator wants changes to servicer pay.


Homes are getting smaller, but consumers dream big

The average size of a new home is shrinking, but some homeowners would like more space. Read that story and more in Real Estate Weekly.
Read more: Homes are getting smaller, but consumers dream big.


Home-builder sentiment index stuck for third month

Home builders' sentiment remains decidedly downbeat on the state of the U.S. housing business, judging from the latest survey by an industry group.
Read more: Home-builder sentiment index stuck for third month.


CARS


Car Review: The 2011 Subaru WRX STI

The latest in a line of awesome performance machines from the Japanese manufacturer has a civilized ride that makes it easier to live with as a daily commuter car.
Read more: The 2011 Subaru WRX STI.


TAXES


Payroll-tax break means average $695 in paychecks

The U.S. Treasury says that about 159 million workers will enjoy an average of $695 more in their paychecks over the course of the year. Read that story and more in this week's Taxing Times.
Read more: Payroll-tax break means average $695 in paychecks.


More time to file, and other tax news

E-file is officially open on IRS.gov, but some taxpayers must wait to file. Meanwhile, the filing deadline this year is April 18, and a consumer group warns taxpayers to keep track of 1099s, because ID thieves are hankering after those.
 Watch video: More time to file, and other tax news.


CAREERS


Social rules at work

The line between professional and social is often difficult to navigate in the workplace, especially early in your career.
Read more: Social rules at work.


Finance pros more optimistic about jobs

Accounting and finance workers are feeling more optimistic this quarter than last about their ability to snag a job in the industry, according to a new survey by the Mergis Group.
Read more: Finance pros more optimistic about jobs.


UBS revises dress code to focus on essentials

UBS AG (UBS) says it is revising its much-publicized dress code to focus on the core elements of the style guide, namely requiring its Swiss retail banking staff to wear colors used by the bank across all elements of its corporate design.
Read more: UBS revises dress code to focus on essentials.


Five tips on how to break into sales at Convergys

Convergys Corp. (CVG) has one of the largest sales forces in the United States. According to Selling Power magazine, which ranks the 500 largest sales teams in the country, the Cincinnati-based outsourcing company employs an estimated 40,000 salespeople in the country.
Read more: Five tips on how to break into sales at Convergys.


Job-growth prospects better: Summers

Prospects for the beginning of significant U.S. employment growth and reduction in unemployment are better than in a number of years, says a former top Obama administration official.
Read more: Job-growth prospects better, Summers says.


ECONOMY & POLITICS


Bank chiefs may be forced to sign off on trades

Federal banking regulators on Tuesday suggested that bank chief executives be forced to attest in writing that the lenders they run adhere to new rules limiting speculative trading.
Read more: Bank chiefs may be forced to sign off on trades.


Data to show housing as economy's Achilles' heel

Economic data expected in the coming week will shed light on the housing sector, which has turned out to be the Achilles' heel of this U.S. recovery.
Read more: Data to show housing as economy's Achilles' heel.


White House digs in for health-care brawl

The Obama administration is digging in its heels as Republicans' drive to repeal the landmark health-care law gets going in earnest this week, with a new study showing that 129 million Americans with pre-existing conditions could be denied coverage in the absence of the law.
Read more: White House digs in for health-care brawl.


Obama looking at scrapping ‘dumb' regulations

President Barack Obama says in a Wall Street Journal commentary that he wants to conduct a government-wide review of regulations to eliminate measures that could hurt economic growth.
Read more: Obama looking at scrapping ‘dumb' regulations.


Commentary: The incredible shrinking dollar

The buck's buying power has been shrinking for years — indeed, for decades.
Read more: The incredible shrinking dollar.


Schumer to revive China tariff legislation

As Chinese leader Hu Jintao prepares to visit Washington, a top Democratic senator on Sunday announced plans to reintroduce legislation that would enable the United States to impose tariffs on Chinese imports.
Read more: Schumer to revive China tariff legislation.


INVESTING


With Jobs on leave, will Apple shares stay healthy?

The news that Steve Jobs is taking another medical leave from Apple is ominous.
Read more: With Jobs on leave, will Apple shares stay healthy?


Questions again about Steve Jobs's health

News of another medical leave by Apple's legendary CEO is not something investors and the company's fans want to hear.
Read more: Questions again about Steve Jobs's health.


Look for money managers with skin in the game

They say that no one will ever take better care of your money than you will. But the next best thing may be a mutual-fund manager whose money is invested in the same fund as your money.
Read more: Look for money managers with skin in the game.


Mutual funds snap up equities

Fund managers' overweight position in global equities hits its highest level in three and a half years amid expectations of improving growth, rising inflation and low interest rates.
Read more: Fed gets its way as funds snap up equities.


Goldman: Facebook deal for foreign clients only

Investment bank (GS) cites ‘intense media attention' for its decision to restrict its placement of social network Facebook shares to non-U.S. clients.
Read more: Goldman says Facebook deal for foreign clients only.


Apollo boosts Fantasy trades — again

Fantasy fortunes rose on the back of Apollo Group Inc. (APOL) as the education provider once again played a pivotal role in the winning portfolios of MarketWatch's Fantasy Earnings Trader competition.
Read more: Apollo boosts Fantasy trades — again.


Big tech is back

Look for outsize performance from some big old laggards as they get back into the game in 2011.
Read more: Big tech is back.


Inflation doesn't have to be bad for stocks

It is taken for granted among many investors that higher inflation would be bad for the stock market. A careful review of the historical record, however, suggests that the relationship between stocks and inflation is a lot more complex.
Read more: Inflation doesn't have to be bad for stocks.


Commentary: Baby-boomer bull now worried

New World Investing's veteran Michael Murphy, long bullish on equities, is developing doubts about stocks and the economy.
Read more: Baby boomer bull now worried.


Commentary: Four reasons Buffett's legacy will die by 2020

Here's our challenge to Warren Buffett: Focus on the four biggest issues facing Americans by inviting four brilliant minds to speak to your shareholders in May.
Read more: Four reasons Buffett's legacy will die by 2020.


INTERNATIONAL NEWS


Inflation boost puts pressure on Bank of England

A surge in British consumer-price inflation to a 3.7% annual rate in December puts pressure on Bank of England policy makers to lift rates, economists say.
Read more: Inflation boost puts pressure on Bank of England.


China's 2010 GDP reportedly grew 10.1%

China's gross domestic product reportedly increased to 39.5 trillion yuan ($5.98 trillion) in 2010, 10.1% higher than in the previous year, while Beijing set the nation's banks a smaller 2011 lending target.
Read more: China's 2010 GDP reportedly grew 10.1%


Slide show: Tunisia's crisis in pictures

Slide show: Tunisia's crisis in pictures.
See slide show: Tunisia's crisis in pictures.


Commentary: Motives behind China's euro purchases

In buying the debt of troubled euro states, China seeks a diverse mix of objectives, including economic self-interest and global power politics.
Read more: Motives behind China's euro purchases.


Commentary: President Hu's U.S. visit in spotlight

When Chinese President Hu Jintao meets U.S. counterpart Barack Obama this week, Hu would be wise not to overplay his hand.
Read more: Hu's U.S. visit in spotlight.


Hopes fade for quick boost to EU rescue fund

German opposition clouds the outlook for a quick boost in the size or scope of the European Union's rescue fund, leaving the euro to give up some of last week's gains.
Read more: Hopes fade for quick boost to EU rescue fund.


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Wall Street rises despite hit to Apple | Financial and Forex Info News | The Australian Capital Briefing


Wall Street rises despite hit to Apple
Wall Street, US stocks Brendan Conway and Kristina Peterson US stocks rose despite slides in Apple and Citigroup overnight as materials shares gained on data that confirmed manufacturing strength.
Alcoa seals $US7.5bn pact with CPIC
Alcoa refinery, Piljarra Western Australia John Kell ALCOA and a Chinese state-owned power generator today signed a pact to co-operate on investment projects potentially worth $US7.5 billion.

Half a billion in lost earnings
Companies to lose $500m in earnings because of the floods Nabila Ahmed AUSTRALIAN companies are tipped to lose more than half a billion dollars in earnings as a result of the floods in Queensland and Victoria.

Fletcher pitches to Crane investors
fletcher boss Tracy Lee FLETCHER Building chief Jonathan Ling's message to Crane shareholders is simple: we're better managers and we'll make more money.
Big price rises for commodities tipped
Miner Sarah-Jane Tasker AUSTRALIA'S resources sector is expected to benefit from a bumper year for commodities, with big price gains forecast from the next boom.
Bankers waiting to strike paydirt
Goldman Sachs Scott Murdoch and Damon Kitney AUSTRALIAN investment bankers are gearing up for the most important time of their year: bonus season.
Deluge puts $5bn of loans at risk
Floods Scott Murdoch THE Queensland floods crisis could put nearly $5 billion worth of mortgages and commercial loans at risk of default.

SGX hopeful of ASX deal, but hurdles loom
ASX P.R. VENKAT SINGAPORE Exchange (SGX) says it is on track to complete a $8.4 billion takeover of the Australian Securities Exchange.
Financial Markets
Wall Street rises despite hit to Apple
Wall Street, US stocks Brendan Conway and Kristina Peterson US stocks rose despite slides in Apple and Citigroup overnight as materials shares gained on data that confirmed manufacturing strength.

BlueScope slips as commodities rise
Half a billion in lost earnings

Financial Markets Coverage
Mining & Energy
Alcoa seals $US7.5bn pact with CPIC
Alcoa refinery, Piljarra Western Australia John Kell ALCOA and a Chinese state-owned power generator today signed a pact to co-operate on investment projects potentially worth $US7.5 billion.

BlueScope slips as commodities rise
Moly hit as finance stalled

More Mining & Energy Coverage






   

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Spend what it takes, PM told | Financial & Forex Info News | The Australian Capital Circle




Capital Circle Newsletter


Spend what it takes, PM told

The mammoth task of rebuilding has begun and their is advice coming in from all sides.

The PM's day, per the press office: Prime Minister Julia Gillard is in Queensland today, visiting people in flood-hit areas of that state.
UK Foreign secretary William Hague will also visit Queensland today to see first hand the devastating impact of the flood. And Indian Foreign Minister S.M. Krishna will arrive in Melbourne today to meet with Resources Minister Martin Ferguson. More from Amanda Hodge.
The dam expert who will help preside over the judicial inquiry into the southeast Queensland flood disaster has warned of a potential conflict of interest in the operator of Wivenhoe Dam's dual objectives of maintaining a water supply and releasing water in times of flood. (more from Michael McKenna and Milanda Rout)
And as fall out continues, business leaders told the Gillard government to delay the surplus and spend what it takes to fix the economic damage caused by the floods.
As Michael Gordon reports, three members of a business taskforce appointed to advise on the flood recovery told The Age that the imperative for the Gillard, Bligh and Baillieu governments was to get the wheels of commerce turning again, infrastructure rebuilt and lives back to normal.
Economic impact: SOARING construction costs caused by the rebuilding of flood-ravaged Queensland could trigger interest rate rises, as the Reserve Bank assesses the twin impacts of the reconstruction task and the mining boom. (more from David Uren and Siobhain Ryan)
2011 is no time for politics, Anna Bligh says
Read more...

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Stocks Eke Out Modest Gains Amid Pullback By Dollar - U.S. Commentary . RTTNews Evening MarketWrap

Evening Market Wrap Tue Jan 18  2011

Commentary

Jan 18, 2011 Stocks Eke Out Modest Gains Amid Pullback By Dollar - U.S. Commentary Stocks were able to tilt to the positive side to close out Tuesday's session, with dollar weakness spurring some buying interest in equities, particularly gold and steel stocks. On the downside, disappointing earnings numbers from Citigroup (C) and Delta Air Lines (DAL) drove losses in the banking and airline sectors. Meanwhile, another uninspiring set of second-tier economic data had little impact on overall market sentiment. Full Article

Economic News

Jan 18, 2011 New York Manufacturing Conditions See Continued Improvement Conditions for New York manufacturers continued to improve in January, according to a report released by the Federal Reserve Bank of New York on Tuesday, with the index of regional manufacturing activity rising roughly in line with economist estimates. The New York Fed said its general business conditions index rose to 11.9 in January from a revised 9.9 in December, with a positive reading indicating growth in regional manufacturing activity. Full Article
Jan 18, 2011 U.S. Homebuilder Confidence Remains Unchanged At Relatively Low Level With readings on current sales conditions and sales expectations holding steady in January, the National Association of Home Builders released a report on Tuesday showing that its index of homebuilder confidence remained unchanged at a relatively low level for a third consecutive month. The report showed that NAHB/Wells Fargo Housing Market Index came in at 16 in January, unchanged from the previous month. The unchanged reading came in line with economist estimates. Full Article
Jan 18, 2011 Most Americans Say Economy Is Beginning To Recover A majority of American voters say that the economy is beginning to recover, according to the results of a Quinnipiac University poll released on Tuesday, although most still think the economy is in a recession. The poll showed that 54 percent of voters said that the economy is beginning to recover compared to 43 percent that said it is not beginning to recover. However, 73 percent think the U.S. economy currently remains in a recession compared to 24 percent that think it is not. Full Article

Corporate News

Jan 18, 2011 Charles Schwab Profit Falls On ChargeCharles Schwab Corp. (SCHW), a provider of securities brokerage, banking, and related financial services, Tuesday reported a lower profit for the fourth quarter owing to a charge, despite a rise in revenues. The San Francisco, California-based company's net income for the fourth quarter declined to $119 million from $164 million. On a per share basis, earnings slipped to $0.10 from $0.14. Full Article
Jan 18, 2011 Boeing Pushes Delivery Of First 787 DreamlinerAerospace giant Boeing Co. (BA) said Tuesday it now expects delivery of the first 787 Dreamliner in the third quarter of fiscal year 2011, citing the impact of an in-flight incident during testing last November. The company had earlier projected delivery of the first Dreamliner to occur in the first quarter of fiscal 2011. The latest announcement marks the seventh time the company has delayed the delivery of the aircraft. Full Article
Jan 18, 2011 Citigroup Posts Q4 Profit As Revenues RiseFinancial services giant Citigroup Inc. (C) Tuesday reported a profit for the fourth quarter, as revenues increased significantly from the prior year and the company provided less for credit losses. However, earnings missed Wall Street estimates. The stock is down over 4% in pre-market activity. Fourth-quarter net income was $1.31 billion, or $0.04 per share, compared to a net loss of $7.58 billion, or $0.33 per share in the previous year. Full Article
Jan 18, 2011 Delta Air Lines Turns To ProfitDelta Air Lines, Inc. (DAL, DALRQ.PK) Tuesday reported a profit for the fourth quarter, compared with a loss last year, as passenger revenue rose on higher capacity. On adjusted basis, earnings per share came in below Street analysts' forecast. The airline also provided operating margin outlook for the first quarter of fiscal 2011. Delta's fourth-quarter net income was $19 million or $0.02 per share, compared with a loss of $25 million or $0.03 per share last year and a net income of $363 million or $0.43 per share in the preceding quarter. Full Article
Jan 18, 2011 Capital One Charge-Offs DeclineCredit services firm Capital One Financial Corp. (COF) reported Tuesday that its annualized net charge-off rate for the month of December declined month-over-month for U.S. credit cards as well as international credit cards. The decrease shows that more customers are able to pay off their credit card bills easily than earlier. Full Article

Political News

Jan 18, 2011 Palin Seeks To Defend "Blood Libel" CommentsFormer Alaska Governor Sarah Palin took to the airwaves Monday night to once again lash out at critics that have sought to link her vitriolic political rhetoric with the recent mass shootings in Arizona, including those that took offense to her recent use of the term "blood libel." Appearing in an interview with Fox News' Sean Hannity, Palin specifically sought to defend her political action committee's use of a map with the crosshairs of a gun on Democratically-held districts. Full Article
Jan 18, 2011 Conrad Won't Seek Re-election In 2012In a potential blow to Democrats' hopes of holding on to a majority in the Senate in 2012, North Dakota Senator Kent Conrad, D-N.D., announced Tuesday that he will serve out his term and not seek re-election. Conrad, chairman of the Senate Budget Committee, said he would spend the next two years focusing on addressing the serious challenges facing the nation, including a $14 trillion debt and America's dependence on foreign oil. Full Article
Jan 18, 2011 Chinese President Leaves For Key US TourChinese President Hu Jintao left Beijing Tuesday for a key three-day state visit to the United States, seeking to improve relations between the two major powers and economies of the world. The Chinese leader is touring America as a state-guest of his American counterpart Barack Obama, who extended the invitation to Hu this summer while both were at the Toronto G20 summit. Full Article

Stocks To Watch

Jan 18, 2011 Charging forward...Engaged in making chargers for electric vehicles, this company seems well-positioned to benefit from the recent emphasis on Electric Vehicles. A $10 million investment from a Swiss power major last we Full Article

NYT: Afternoon Business News : Citigroup Posts First Annual Profit Since 2007


BUSINESS
DealBook

Citigroup Posts First Annual Profit Since 2007

By BEN PROTESS
The bank, which posted its first profitable year since Vikram S. Pandit became chief executive, reported annual earnings of $10.6 billion, compared with a $1.6 billion loss in 2009. But it disappointed for the quarter.

A Deep Bench of Leadership at Apple

By MIGUEL HELFT and CLAIRE CAIN MILLER
A decision by Steven P. Jobs, the chief executive, to take leave puts a spotlight on several executives, in particular Timothy D. Cook, who will take over day-to-day operations.
Bits Blog

Two Arrested in iPad Security Breach

By NICK BILTON
The United States Attorney's Office in Newark filed charges against two men who accessed 114,000 e-mail addresses of iPad owners through AT&T's Web site.

Europeans Vow to Get Tough on Bankers Pay

By STEPHEN CASTLE
Finance ministers also promised that new banking stress tests would be stricter than the ones conducted last year that failed to restore market confidence in the euro.

Boeing Again Delays Delivery of 787 Dreamliner

By CHRISTOPHER DREW
The third-quarter delivery date reflected the impact of the November fire and the time required to install new software and new electrical panels.