Translate

Search This Blog

Search Tool




Jul 6, 2011

Asia Markets: Hong Kong stocks up on banks; Japan slips: MarketWatch | Asian Markets - July 6, 2011, 10:30 p.m. EDT



SYDNEY (MarketWatch) — Bank-share gains helped Hong Kong stocks advance Thursday, although losses for Japanese utilities kept Tokyo in check, and a decline for News Corp. weighed in Sydney.
Hong Kong shares gained early, with the Hang Seng Index HK:HSI +0.72%  up 0.4%. Shares of HSBC Holdings PLC UK:HSBA -0.57%   HBC -0.11%  rose 0.6%, and Industrial & Commercial Bank of China Ltd. HK:1398 +1.38%   IDCBY -2.31%  advanced 0.5%.
China lifted its benchmark deposit and lending rates by a quarter-point late Wednesday. Analysts broadly welcomed the move, with Merrill Lynch strategists suggesting that markets had been expecting a hike for some time and may have been relieved by the action.
Mainland Chinese investors were less enthused, however, with the Shanghai Composite Index CN:000001 +0.21%  down 0.3%. 

 
Apple prepares new iPhone Apple is said to be ordering key components for a new iPhone that's thinner, lighter and holds an improved eight-megapixel camera. But production problems in Asia may delay its launch. 


Japan’s Nikkei Stock Average JP:NIK -0.08%  ended the morning session down 0.1%, South Korea’s Kospi KR:0100 +0.53%  gained 0.5% and Australia’s S&P/ASX 200 index AU:XJO +0.17%  fell 0.2%.
Japanese stocks were lower, after gaining for seven straight sessions, with utilities among the leading decliners. Kansai Electric Power Co. JP:9503 -6.56%   KAEPF +6.89%   dropped 6.6%, and Chubu Electric Power Co. JP:9502 -6.32%   CHUEF +2.03% gave up 6.3%. Tokyo Electric Power Co. JP:9501 -2.64%   TKECY +11.79%  which has lost almost 80% of its value since the start of the year, traded down 2.6%.
The Nikkei newspaper reported that nuclear power plants which have been offline since the March earthquake may not restart this summer, with the Japanese government considering stress tests for the power plants.
Auto makers were also lower in Tokyo trading, with Honda Motor Co, JP:7267 -1.23%   HMC -0.14%  shares down 1.1% and Toyota Motor Co. JP:7203 -0.58%   TM -0.13%  shares down 0.6%.
Japan’s top seven car makers are likely to post their first combined drop in consolidated net profit, with the total projected to fall 35% in the fiscal year in the wake of the March earthquake, the Nikkei reported. See report on Japan car makers’ profit outlook.
Also on the earnings front, Samsung Electronics Co. SSNLF +78.57%   declined 1.3% in Seoul after it said that it expects its second-quarter operating profit to fall 26% from a year earlier, as its liquid crystal display business likely posted its second straight quarterly loss due to slumping demand for televisions and personal computers. See report on Samsung Electronics’ profit outlook.
News Corp. NWS -0.11%   AU:NWS -3.26%  shares fell 3.2% in Sydney, after its U.S.-listed shares lost almost 4% in Wednesday’s session.
The share losses followed an announcement by the U.K. government that it will investigate allegations of hacking into the mobile-phone voicemail of a murdered 13-year-old schoolgirl by the News of World tabloid newspaper.
Companies, including Ford Motor Co. F +0.29%   and General Motors Co. GM +0.58% , have suspended advertising in the newspaper pending a police investigation into the matter. Read more on News Corp. hacking allegations.
News Corp. also owns MarketWatch, the publisher of this report.
Sarah Turner is MarketWatch's bureau chief in Sydney.



Breaking News Alert: In debt talks, Obama offers Social Security cuts
July 6, 2011
----------------------------------------

President Obama is for the first time offering to tackle the rising cost of Social Security as part of a far-reaching plan to restrain the spiraling national debt, according to people in both parties familiar with the proposal.

The move marks a major shift for the White House and could present a direct challenge to Democratic lawmakers who have vowed to protect health and retirement benefits from a Republican assault on government spending.


http://link.email.washingtonpost.com/r/KYNZS9/FX9MQ0/NPMKM5/L22FFP/ABIKW/4O/h

For more information, visit washingtonpost.com

Finucane death halts BHP works: The Australian Business Briefing


 
Finucane death halts BHP works
110707 BHP underground tunnel, Nelson Point, Finucane Island, Port Hedland Andrew Main BHP Billiton halted Port Hedland works today after a 27-year-old worker died when a crane collapsed at nearby Finucane Island.
 
Jobless rate holds at 4.9pc
Jobs THE jobless rate remained steady 4.9 per cent in June, but the number of full-time jobs soared, sending the dollar higher.
 
Apple orders new iPhone parts
Apple Lorraine Luk APPLE is getting closer to launching its next iPhone, as it works to stay ahead of competition from rivals such as Samsung.
 
ResMed swoops on Irish rival
ResMed Michael Bennet RESMED is expected to make more acquisitions after splashing out some of its warchest on Irish rival BiancaMed.
 
Bradken spends $222m on deals
Bradken MD Brian Hodges MINING equipment supplier Bradken says earnings will be boosted by $28 million after it bought two supply companies.
 
New obstacle at bailout talks
Greece Stephen Fidler GREEK bailout plans have been thrown into confusion after German officials appeared at odds with solution forged by France.
 
Mesoblast jumps on FDA trial
Silviu Itescu Gavin Lower STEM cell medicine developer Mesoblast has received US approval to begin an advanced trial for bone marrow transplants.
 
China hikes to fight inflation
110609 China property Aaron Back CHINA'S fifth interest-rate hike in eight months signals it remains more concerned about inflation than a slowdown.
 
Financial Markets
Jobs data help stocks off lows
ASX 200 THE Australian sharemarket was down but had lifted off its lows following the release of positive employment data.
 
Aston Martin may list in HK
Euro rocked by global risks
 
Financial Markets Coverage
 
Mining & Energy
Finucane death halts BHP works
110707 BHP underground tunnel, Nelson Point, Finucane Island, Port Hedland Andrew Main BHP Billiton halted Port Hedland works today after a 27-year-old worker died when a crane collapsed at nearby Finucane Island.
 
BHP death halts Port Hedland
Maules to cost Aston $553m
 
More Mining & Energy

China hikes to fight inflation: The Australian Business Briefing


 
China hikes to fight inflation
110609 China property Aaron Back CHINA'S fifth interest-rate hike in eight months signals it remains more concerned about inflation than a slowdown.
 
Wall St shrugs off negativity
stockmarket China Jonathan Cheng US stocks finished higher for the sixth session in seven, shrugging off negative signals from the US, China and Europe.
 
Indian giant targets local miner
Andrew Forrest Sarah-Jane Tasker A COMPANY backed by Andrew Forrest is expected to announce a deal with an Indian miner that could lead to more investment.
 
RBA downgrade could reach 1.5pc
Wayne Swan Scott Murdoch THE RBA could downgrade its forecasts for the economy by up to 1.5 per cent after a warning from the Treasurer.
 
CSC's iSoft bid 'will succeed'
iSoft Michael Bennet CSC says its $188m offer for beleaguered iSoft Group is "full and fair" and has pledged support to the company's staff .
 
Facebook friends Skype
Facebook Skype Ian Sherr FACEBOOK says it is integrating Skype video chat into its popular social network, a move that mirrors Google.
 
Aussie consumers a cautious lot
consumer spending Teresa Ooi Confidence AUSTRALIANS are among the world's most cautious consumers, a survey has found.
 
Fizz goes out of Foster's chase
Foster's Blair Speedy BREWING major Foster's and former stablemate Treasury Wine Estates may struggle to attract further takeover interest.
 
Financial Markets
Euro rocked by global risks
euro dollar Erin McCarthy THREE bad harbingers for global growth rocked the euro today, pushing the single currency down below $US1.43.
 
Wall St shrugs off negativity
Gold gains on safety concerns
 
Financial Markets Coverage

The Australian Capital Circle: Shrinking tax to hit 500 companies

Capital Circle Newsletter

Shrinking tax to hit 500 companies
 
As Sunday draws near the carbon tax package is shrinking, but Labor MPs are still restless.

The PM's day: Julia Gillard is in Canberra for the parliamentary sitting day. She will attend question time, but otherwise has a day of meetings and briefings ahead of the release of her carbon tax package on Sunday.
Tony Abbott is in Canberra for the parliamentary sitting day.
Mumble
Peter Brent
Peter Brent

The voting gender divide
Women aged fifty and over are the bedrock of the Coalition’s support, according to Newspoll. And in 1997 males aged 35-49 were the…

More Peter Brent

New Zealand Foreign Minister Murray McCully is in town. He'll stand up with Foreign Minister Kevin Rudd at a joint press conference after 1pm.
Exhausted: Labor's end of session party is on tonight. Staff and MPs will gather to drink, dance and commiserate over what has been a bruising six months for the ALP - a far cry from end-of-sessions past, which have featured raucous speeches from senior ministers and not a little bacchanalian excess. With an eye to Sunday's announcement, MPs and staff are likely to be a little more subdued this time around.
Replaced: Jennifer McAllister is the new national president of the ALP, replacing Queensland Premier Anna Bligh. (more here)
Strike: As Capital Circle reported on Tuesday, parliamentary services staff are holding a four hour stop work meeting today. Staff are striking in protest at the "insulting and inadequate wage offer'' made by the department. The strike will hit a range of services, including Hansard and the internal TV system. CPSU national secretary Nadine Flood says the action was a symptom of dissatisfaction with the inflexible approach being taken to bargaining by the department.
Spotted: Canberra-born, Adelaide-based Mental Health Minister Mark Butler , celebrating his birthday at La Rustica in Kingston last night.
***Email Capital Circle. Click here to subscribe***
Capital Circle's carbon tax wrap: Fairfax newspapers re
Read more...

MarketWatch Personal Finance Daily: CEO turnover boosts top job opportunities

MarketWatch
Personal Finance Daily
JULY 06, 2011

CEO turnover boosts top job opportunities

By MarketWatch



Don't miss these top stories:

Even CEOs have to look for a job sometimes. Or maybe you're another type of C-suite exec and you want to move up to the top spot. Volatility for both chief executives and chief financial officers at Fortune 500 and S&P 500 companies is higher this year than in 2010, creating possible opportunities for top managers, Ruth Mantell reports today. The secret to getting these jobs is not just sending in unsolicited resumes or waiting around for a headhunter to call, however. Mantell says search firms tell her the best strategy is to be proactive and develop good relationships with recruiters. Candidates also need to use online professional networks and know which sectors and companies are the best fit with their skills. Good luck with that job hunt, chief.

Anne Stanley , Managing Editor, Personal Finance

JOB MARKET

CEO turnover boosts top job opportunities

For executives waiting by the phone for a headhunter to call, now could be a good time to take a more active role in the job search. Turnover among top executives at top companies is increasing this year, and job seekers can reach out to executive search firms with a targeted application, recruiters said.
Read more: CEO turnover boosts top job opportunities.


PERSONAL TECH

WiFi that works coming to a stadium near you

Fans tired of battling for service at sports events may soon be in for a treat. A new Cisco WiFi system promises speedier and more reliable service.
Read more: WiFi that works coming to a stadium near you.


HEALTH CARE

Health funds chart a big recovery

Health-care funds may be emerging from the ashes after being burned by worries about the overhaul of the U.S. health system.
Read more: Health funds chart a big recovery.


ECONOMY & POLITICS

Service sector growth slows in June

The services sector grew at a slower pace in June based on a survey of senior executives, supplying further evidence that the U.S. economy has lost steam.
Read more: Service sector growth slows in June.


U.S., China reportedly to discuss stock probes

Chinese and U.S. officials are reportedly due to hold meetings next week to discuss reforms that could see American regulators granted special powers to investigate companies within China for the first time.
Read more: U.S., China reportedly to discuss stock probes.


INVESTING

Deposit checks with a smartphone

Depositing checks into investment accounts is getting easier — for some. Both Charles Schwab Corp. and Fidelity Investments rolled out new software applications at the end of May allowing customers to deposit checks into brokerage accounts with their smartphones.
Read more: Deposit checks with a smartphone.


Their own worst enemy

When investments don't pan out, investors often complain about their financial advisers. But there's another side to that story: Advisers say investors are often their own worst enemies. And the pros have no shortage of stories about misguided investment behavior to back that up.
Read more: Their own worst enemy.


GM replaces Ford as analyst's top pick

Morgan Stanley upgrades entire auto sector to attractive and singles out GM, not rival Ford, as having the best potential in the group.
Read more: GM replaces Ford as analyst's top pick.


World stock markets enjoy a full half-year

The world's stock markets took some paradoxical turns in this year's first six months.
Read more: World stock markets enjoy a full half-year.


Why there's no predicting this ETF's performance

Harry S. Dent Jr. has made a lot of predictions about the stock market, some on the money, some spectacularly off-base. Now the demographics guru, economic forecaster and best-selling author is betting that investors will pay up for a specialized exchange-traded fund that follows his compass.
Read more: Why there's no predicting this ETF's performance.


How to beat the market without even trying

Dollar-cost averaging strategy has produced a handsome profit over the period since the bull-market high in October 2007, even though the major market averages remain well below their all-time highs, reports Mark Hulbert.
Read more: How to beat the market without even trying.

The Economist | Selected New Articles: Phone-hacking in Britain / Migrant workers in Saudi Arabia / Money talks ... and more




Phone-hacking in Britain: How vulnerable is David Cameron?

Migrant workers in Saudi Arabia: Beheading the golden goose

Audio: Money talks

The art of Cy Twombly: Hypnotic scribbles and abstract allusions

Gravity: Atoms in free-fall

Audio: The myth of Hugo Chávez
Daily chart: Europeans and social networking
Online debate: Is making things still the key to economic success?

U.S. stocks close up on industrial, consumer gains: MarketWatch | Market Pulse



By Wallace Witkowski


SAN FRANCISCO (MarketWatch) -- U.S. stocks finished higher Wednesday led by gains in the consumer staples and industrial sectors. The Dow Jones Industrial Average closed up 56.15 points, or 0.5%, at 12,626.02, led by shares of Caterpillar Inc. CAT +0.09% and DuPont DD +0.36% . The S&P 500 Index SPX +0.10% increased by 1.34 points, or 0.1%, to close at 1,339.22, and the Nasdaq Composite Index COMP +0.29% rose 8.25 points, or 0.3%, to close at 2,834.02.

Money showToday's Investor Daily Alert: Top Pros' Top Picks | 3 Growth Trends Defying the Markets

 Moneyshow.com


Top Pros Top Picks

Investors Daily Alert

NEW! THE DAILY GURUCandid Daily Interviews with Top Market Experts
3 Growth Trends Defying the Markets, Jerry Slusiewicz

Jim Jubak on MoneyShow.com
Where Did China’s Loans Go?
Can This Market Ignore Its Problems?

Today's Top Pros' Top Picks
3 Bank Stocks Worth Your Attention, George Putnam
This Fund Wins the Race Slow and Steady, Janet Brown

Today's Gurus' Views & Strategies
Size Matters for Network Gear Makers, Kate Stalter
Rough, But Worth the Ride, Dan Sullivan

Today's Charts in Play
A New Trend for Rare Earth Stocks?, Tom Aspray

Investor Clinic
Bonds ETFs Are Safer Than You Think, John Heinzl

Global Investing Ideas
The Casey Anthony of Markets, Igor Greenwald
China Fears Make the Bargains Sweeter, Jim Trippon

Today's Featured Videos
Growth Plus Income, Bryan Perry
Overseas Growth Fuels Tech, Elliott Gue

RTTNews Evening Market Wrap

RTTNews Evening Market Wrap

Commentary
Stocks moved modestly higher over the course of the trading day on Wednesday, although buying interest remained relatively subdued. The markets extended the upward move seen last week despite the release of weaker than expected economic data. (Jul 6, 2011) Full Article
Economic News
Activity in the U.S. service sector grew at a slower rate in the month of June, according to a report released by the Institute for Supply Management on Wednesday, with the index of activity in the sector falling by more than economists had anticipated. The ISM said its non-manufacturing index fell to 53.3 in June from 54.6 in May, although a reading above 50 indicates continued growth in the service sector. Economists had been expecting the index to edge down to a reading of 54.0. (Jul 6, 2011) Full Article
Corporate News
Aerospace giant Boeing Co. (BA) Tuesday said it expects India's market for new passenger airplanes to reach $150 billion over the next 20 years, driven by double-digit economy growth and strong demand for new and replacement airplanes. This outlook represents an increase of 15 percent from the aircraft maker's previous market estimate of about $130 billion. The Chicago, Illinois-based company also backed its worldwide market forecast for new aircraft for the period between 2011 and 2030. (Jul 6, 2011) Full Article
The U.S. agency in control of pipeline safety on Tuesday ordered oil and Gas giant Exxon Mobil Corp. (XOM) to make safety improvements along the Silvertip hazardous liquid pipeline that ruptured and spilled oil into the Yellowstone River in Montana. Last Saturday, about 750 to 1000 barrels of crude oil was released into the river after an accident on the Silvertip Pipeline. The cause of the release has not yet been determined. (Jul 6, 2011) Full Article
Drugstore chain operator Walgreen Co. (WAG) Wednesday reported a 4.8 percent rise in comparable stores sales for the month of June, positively impacted by the effect of calendar day shifts. June sales were $6.04 billion, an increase of 6.8 percent from $5.65 billion a year ago. (Jul 6, 2011) Full Article
Good Times Restaurants Inc. (GTIM) announced that same store sales for the month of June increased 5.1% and same store sales for the third quarter of fiscal 2011 increased 6.1%. Year to date for the first nine months of the fiscal year same store sales have increased 8.3%. The company also reported that in addition to its planned rollout of new menu boards to all of its restaurants in the next few months, it has several new products and menu reformulations in development. (Jul 6, 2011) Full Article
Forex Commentary
The dollar saw modest gains versus its European rivals on Wednesday, supported by lingering concerns about the efficacy of Greece's sovereign debt bailout. Moody's Investors Service cut Portugal's government bond rating to junk, while private lenders haggled with officials over the role of the financial sector in a rescue for Greece. (Jul 6, 2011) Full Article
Political News
Former Massachusetts Governor Mitt Romney continues to hold a commanding lead among Republican presidential candidates in New Hampshire, according to the results of a WMUR Granite State Poll released on Tuesday. The poll found that 35 percent of likely Republican Primary voters said they would vote for Romney, down from 41 percent in June but well above the rest of the GOP field. (Jul 6, 2011) Full Article
Likely benefiting from strong name recognition and his status at the early front-runner for the Republican presidential nomination, former Massachusetts Governor Mitt Romney’s presidential campaign announced a strong second quarter fundraising haul on Wednesday. Romney’s campaign revealed that it raised $18.25 million in total receipts for the quarter ended June 30, 2011, well above the fundraising totals that have been announced by the other Republican candidates. (Jul 6, 2011) Full Article

Transports shine on quiet day for Wall Street: Reuters - Daily Investor Update


News

LATEST NEWS
Transports shine on quiet day for Wall Street
NEW YORK (Reuters) - Transportation stocks were among the standouts in another flat session for U.S. equities on Wednesday, and the sector's rally could be cause for optimism ahead. | Full Article

Visa sees lower revenue growth after debit crackdown
July 06, 2011 04:35 PM ET
NEW YORK (Reuters) - Visa Inc , the world's largest card processing network, said revenue growth will slow next year after regulators finalized their crackdown on debit card processing fees. | Full Article
EU slams ratings agencies after Portugal downgraded
July 06, 2011 04:38 PM ET
STRASBOURG, France/BERLIN (Reuters) - European politicians accused credit rating agencies on Wednesday of anti-European bias after Moody's downgrade of Portugal's debt to "junk" cast new doubt on EU efforts to rescue distressed euro zone states without debt restructuring. | Full Article
Blackstone latest buyout fund now $16 billion: source
July 06, 2011 03:18 PM ET
NEW YORK (Reuters) - Blackstone Group latest private equity fund is now sized at $16 billion, according to a source familiar with the matter on Wednesday, making it one of the largest buyout funds raised in history. | Full Article
China raises rates, shrugs off slowing growth
July 06, 2011 10:34 AM ET
BEIJING (Reuters) - China raised interest rates for the third time this year on Wednesday, making clear that taming inflation remains a top priority even as the growth pace of its vast economy gently eases. | Full Article

Obama talks economy at Twitter townhall | The Washington Post | Post Politics Afternoon Edition

The Washington Post
Politics Afternoon Edition

HEADLINES

  1. Obama talks economy at Twitter townhall

    The Fix live-blogged as President Obama answered questions asked via Twitter in the East Room.
    » Read full article
  2. Price tag unclear from Minnesota shutdown

    There's no way to tell how much the shutdown is costing Minnesota, in part because the people who calculate such things are out of work. 
    » Read full article
  3. The Fix: Why Obama goes big

    Obama's call to go "big" on the debt ceiling is part of his broader political brand.
    » Read full article
  4. Both parties spar on tax increases

    Ahead of meeting aimed at breaking debt ceiling impasse, leaders sparred over whether to include tax increases in the deal.
    » Read full article
  5. Why Obama won't ditch Biden

    The president has little reason to pick a new running mate, despite speculation.
    » Read full article