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Jan 3, 2013

NYT: ALERT FGC BOLSA - FGC FINANCIAL MARKETS (January 3, 2013).: The New Tell-All Fed




Alert Name: FGC BOLSA- FGC FIN
January 3, 2013 Compiled: 8:11 PM

 
The best playbook for the economy right now may not be to stimulate it, but rather to avoid surprising it.

NYT | Global Update (January 3, 2013).: In Victory for Google, U.S. Ends Antitrust Investigation

The New York Times International Herald Tribune
January 3, 2013
Compiled 21:45 GMT

Global Update

TOP NEWS

In Victory for Google, U.S. Ends Antitrust Investigation

By EDWARD WYATT
The Federal Trade Commission found that Google had not violated antitrust statutes in the way it structures its Web search application, dealing a setback to Google's rivals.

Signing Defense Bill, Obama Challenges Detainee Provisions

By CHARLIE SAVAGE
The president said he has the power to override a defense measure's limits on the executive branch's ability to transfer detainees out of military prisons.

U.S. Drone Strike Kills a Top Pakistani Militant

By SALMAN MASOOD and ISMAIL KHAN
The death of Maulvi Nazir, reported by security officials, was seen as a serious blow to Taliban fighters who attack United States and allied forces in neighboring Afghanistan.
World

Video: Al Jazeera Seeks a U.S. Voice

TimesCast: With its acquisition of Current TV, the news channel comes of age. | Gérard Depardieu finds a Russian ally in his campaign against French taxes.
Opinion

Latitude

Modi and the Muslims' Malaise

By HARTOSH SINGH BAL
Narendra Modi, India's would-be prime minister, has an exclusionary approach to governance.
WORLD

Hezbollah Leader Urges Lebanon to Aid in a Solution for Syria

By HWAIDA SAAD, ANNE BARNARD and CHRISTINE HAUSER
Hassan Nasrallah, the head of the Shiite militant movement in Lebanon, also wants the country to open its border to refugees to avoid further bloodshed.

Murder Charges Are Filed Against 5 Men in New Delhi Gang Rape

By GARDINER HARRIS
Rape, murder and other charges were filed on Thursday against five men suspected of carrying out an attack on a 23-year-old student in a case that has sparked outrage and protests across India.

Afghan War Commander Gives Options for After '14

By ELISABETH BUMILLER and ERIC SCHMITT
Gen. John R. Allen has submitted military options to the Pentagon that would keep 6,000 to 20,000 American troops in Afghanistan after the NATO mission ends in 2014.
BUSINESS
DealBook

Swiss Bank Pleads Guilty to Tax Law Violations

By PETER LATTMAN
In Federal District Court in Manhattan, Switzerland's oldest private bank, Wegelin & Company, admitted to helping Americans to evade United States taxes, the first time a foreign financial institution has pleaded guilty to tax-law violations.

Car Sales End Strong Year on Modest Note

By BILL VLASIC
A 10 percent increase over all for the industry for December would put the year's sales at about 14.5 million vehicles, the best performance since 2007.

Retailers Post 4.5% Increase in December Sales

By STEPHANIE CLIFFORD
Despite early indications that the holiday season would be lackluster, the 17 chains tracked by Thomson Reuters reported gains for the month above the 3.3 percent analysts expected.
TECHNOLOGY
Media Decoder Blog

Decline in Holiday Sales Is Ominous Sign for Barnes & Noble

By LESLIE KAUFMAN
The company's Nook unit suffered a 12.6 decline in sales compared with the same period a year earlier, a blow to its hopes of building up its digital division to compete with behemoths like Amazon.com.
Media Decoder Blog

BuzzFeed Announces $20 Million in New Financing

By BRIAN STELTER
BuzzFeed, the social news Web site that was one of the media industry darlings of 2012, said Thursday that it had raised nearly $20 million in new financing from its investors.

State Comptroller Sues Qualcomm for Data on Its Political Contributions

By NICHOLAS CONFESSORE
The comptroller, who is the trustee of the New York State pension fund, a major holder of Qualcomm stock, expressed worry over the risks of large contributions.
SPORTS

New Year Gets Off to a Sour Start in Italian Match

By ROB HUGHES
Faced with racist chants, Kevin-Prince Boateng and his A.C. Milan teammates walked off the field on Thursday during a friendly match in Busto Arizio.

A Striker's Winding Path Grows More Crooked

By ROB HUGHES
Demba Ba's career has taken him from France to Belgium to Germany to England, and now it seems he will head to Chelsea, even if his new coach won't say so.
Goal

Not So 'Friendly' in Italy

By JACK BELL
A so-called friendly match turned ugly Thursday in Italy when Milan played at Pro Patria, a lower-division club.
U.S. NEWS

Together a Century, City and Oil Giant Hit a Rough Patch

By NORIMITSU ONISHI
Chevron has spent millions in recent years trying to shore up its relationship with Richmond, Calif., but many residents still oppose the company's efforts to repair a refinery hit by a fire.

Inmates Find Health and Solace in Yoga

By MARY PILON
In prisons across the country, inmates are doing yoga to improve their fitness and cope with the stress of overcrowded prison life.

In a Soaring Homicide Rate, a Divide in Chicago

By MONICA DAVEY
As killings rise on the streets of Chicago, the homicides, most of which the authorities described as gang violence, have not been spread evenly across the city.
OPINION
Op-Ed Contributor

Egypt's New Year Resolution

By AHMED ZEWAIL
Egypt's problem is not religion. It's the slow pace of change.
Op-Ed Columnist

Cheap Meth! Cheap Guns! Click Here.

By NICHOLAS D. KRISTOF
On the Internet in China, you can easily purchase meth, cocaine and other drugs, but news media sites are blocked. That's some backward policy.
Op-Ed Contributor

The Real Arab Demand

By NADER MOUSAVIZADEH
The core of the Arab Awakening is as explosive as it is straightforward: a demand for legitimate government.

DealBook P.M. Edition (January 3, 2013).: Former SAC Portfolio Manager Pleads Not Guilty in Insider Case



Thursday, January 3, 2013
TOP STORY
Former SAC Portfolio Manager Pleads Not Guilty in Insider Case
Former SAC Portfolio Manager Pleads Not Guilty in Insider Case The man at the center of the most lucrative insider trading case ever brought pleaded not guilty on Thursday, raising the stakes in the governmentʼs investigation of his former employer, SAC Capital Advisors. In denying the charges against him, Mathew Martoma, the onetime SAC portfolio manager, sets the stage for a possible courtroom battle that would put the spotlight on SAC and its owner, Steven A. Cohen, the billionaire money manager and one of the most revered investors on Wall Street. Federal prosecutors have accused Mr. Martoma of using secret information about a drug trial to help SAC gain profits and avoid losses totaling $276 million. Flanked at the defense table by his lawyers, Charles A. Stillman and Nathaniel Z. Marmur, Mr. Martoma denied the charges on all three counts of securities fraud and conspiracy brought against him. "I plead not guilty, your honor," Mr. Martoma repeated three times to Judge Paul G. Gardephe before a packed courtroom.
  • DEALBOOK »
  •  
  • DEALBOOK HIGHLIGHTS
    Swiss Bank Pleads Guilty to Tax Law Violations In federal court in Manhattan, Switzerland's oldest private bank, Wegelin & Company, admitted to helping Americans to evade United States taxes, the first time a foreign financial institution has pleaded guilty to tax-law violations.
    Hormel to Buy Skippy Peanut Butter
    Hormel to Buy Skippy Peanut Butter The Hormel Foods Corporation said on Thursday that it had agreed to buy the Skippy peanut butter business from Unilever for $700 million.
    Banks Face New Checks on Derivatives Trading By New Year's Eve, 65 banks had registered their derivatives business with regulators and turned over heaps of real-time trading data to outside warehouses, fulfilling a centerpiece of the Obama administration's financial regulatory crackdown.
    Can SeaWorld Make a Splash in Its I.P.O.? New investors may be hard-pressed to duplicate the success that the Blackstone Group has had with the operator of theme parks, writes Anthony Currie of Reuters Breakingviews.
    Barnes & Noble Reports Decline in Nook Sales A week after a big investment by Pearson, Barnes & Noble says that revenue for its Nook unit - including e-readers, digital content and accessories - fell 12.6 percent, to $311 million, during the holiday shopping season.
    CVC Capital to Buy Cerved for $1.49 Billion CVC Capital Partners has agreed to buy the Italian credit data and business intelligence company Cerved from two rival private equity firms, Bain Capital and Clessidra.
    LOOKING AHEAD
    The December employment report is expected to show a gain of 150,000 new jobs, according to a consensus of economists. 
  • Quotation of the Day
    "We're still very enthusiast about our meat portofolio, but we have been making a very deliberate effort to become a bigger player in general packaged foods."
    Jeffrey M. Ettinger, chief executive of Hormel Foods, in an interview with DealBook.
      

MarketWatch | Wall Street at Close Report (January 3, 2013).: U.S. stocks erase gains after Fed bond-buy signal

By Kate Gibson, MarketWatch 

NEW YORK (MarketWatch) — U.S. stocks fell Thursday after the Federal Reserve signaled a likely end in 2013 to its bond purchases, offsetting upbeat jobs data a day before the payrolls report for December. 

Minutes released Thursday from the Federal Reserve’s December meeting had several central bankers seeing either a slowdown or outright halt to Fed bond purchases before December. Read more about Fed’s program 
 
Relinquishing an 18-point rise, the Dow Jones Industrial Average DJIA -0.16% was lately down 19.56 points, or 0.2%, at 13,392.99. The S&P 500 index SPX -0.21% lost 3.09 points, or 0.2%, to 1,459.33, with materials hardest hit and consumer discretionary faring best among its 10 major sectors. Read about some of Thursday’s biggest gaining and declining stocks. 
 
TJX Cos. TJX +3.27% and Ross Stores Inc. ROST +7.97% both advanced as their monthly same-store sales beat forecasts. 

Family Dollar Stores Inc. FDO -12.96% fell 12% after it projected second-quarter earnings beneath expectations. 

Hormel Foods Corp. HRL +3.72% gained after the maker of Spam lunch meat said it would acquire the Skippy peanut-butter business for about $700 million. 

The Nasdaq Composite COMP -0.38% shed 9.60 points, or 0.3%, to 3,102.66.
For every two stocks rising three fell on the New York Stock Exchange, where 443 million shares traded as of 3:10 p.m. Eastern. 

Composite volume neared 2.9 billion. 

The ADP Research Institute on Thursday estimated the U.S. economy added 215,000 private-sector jobs in December, with the better-than-expected figure boding well for Friday’s jobs report. Read: Private-sector job gains speed up in December.
 
The ADP tally is “the strongest monthly gain since February,” Dan Greenhaus, chief global strategist at BTIG LLC, noted in an email. 

“The ADP number was pretty good, so now everybody is going to move their payrolls estimates up,” said Phil Orlando, equity market strategist at Federated Investors. “We’re making slow progress towards better numbers.” 

Why January is special for stocks? Just how special is January for investors? Mark Hulbert joins Markets Hub to discuss January's historical gains. 

While the consensus estimate from economists surveyed by MarketWatch calls for an additional 160,000 jobs last month, Orlando said there was now an upside bias, and his research suggested 175,000. 

“We ought to be printing 250,000 or 300,000, but the good news is the numbers aren’t negative; we aren’t in recession,” he said. 

Separately, the Labor Department said initial claims for unemployment benefits last week jumped 10,000 to a five-week high of 372,000. Read: Jobless claims rise 10,000 to 372,000. 
 
“Claims were a little soft. But because of New Year’s and Christmas week, I’m inclined to ignore those numbers, so I’m more focused on ADP,” said Orlando. 

“What we’ve enjoyed over the last two days is a massive sigh-of-relief rally,” Orlando said of the market’s two-day jump that came amid an 11th-hour deal to avert the fiscal cliff of steep spending cuts and tax hikes from taking place this year. Read: Is a winter breakout in stocks coming? 
 
Investors cheered the last-minute accord to avoid what economists had feared would push the U.S. back into recession, though analysts cautioned against getting overly euphoric. See: U.S. stock indexes start 2013 with big rally .

While policy makers agreed on measures to avert tax hikes for all but a small percent of wealthy Americans, automatic spending cuts were merely delayed by two months. And the issue of the debt ceiling is also yet to be resolved. See The Tell: Fiscal Cliff II, coming soon to a Congress near you

Moody’s Investors Service on Wednesday said the budget accord will not reduce the nation’s red ink enough to avert a sovereign-rating downgrade. 

“We got one piece, but we don’t have the other piece. We got half a loaf,” said Orlando. Wall Street could do “OK” in January, but as investors look to February and March, prospects get dicey as lawmakers contend with the spending side of the equation after dealing with the revenue end in recent days, according to Orlando. 

“All of the really difficult discussions are still to come,” he said. “And it was like getting blood out of a turnip to get the easy stuff done.”

Google+ faces off against Facebook

Google+ seeks to challenge Facebook by improving its integration with other Google services, and users are warming up to the new service offering.

Kate Gibson is a reporter for MarketWatch, based in New York. Follow her on Twitter @MWKateGibson.

BIV Today's Business News (January 3, 2013).: Northern Gateway pipeline panel coming to Vancouver




Mining and Energy

Northern Gateway pipeline panel coming to Vancouver

The federal panel reviewing the Northern Gateway pipeline proposal will be in Vancouver later this month to ... READ MORE

Real Estate and Development

 

BC government increases homeowners grant threshold

The B.C. government is raising the threshold for the province's homeowner grant well past the $1 million mark, which Finance Minister Mike de Jong said is ... READ MORE

Economy and Finance

 

Vancouver in Canada’s eighth place in CIBC economic activity ranking

Despite consistently being named as Canada’s most expensive city, Vancouver doesn’t even rank in the top five when ... READ MORE

More News...

   

White Rock river mapping company gets federal grant

Canadian IPO market turned around by $1.3 billion surge in Q4: PwC

Response Biomedical expands distribution of cardiovascular products in the U.S.

Money Show Investors Daily Alert (January 3, 2013).: Where Are Currencies Headed in 2013?

Investors Daily Alert


The Daily Guru

No-Nonsense Investing

Jim Jubak on MoneyShow.com

Today's Top Pros' Top Picks

Today's Gurus' Views & Strategies

Today's Charts in Play

MoneyShow.com Exclusive Interviews

Ideas from Around the World

Today's Featured Videos & Exclusive Interviews
Gravity in the Equities Market, Keith McCullough

NYT | Breaking News Aler (January 3, 2013).t: Google Agrees to voluntary Changes in U.S. Antitrust inquiry

The New York Times | BREAKING NEWS ALERT
BREAKING NEWS Thursday, January 3, 2013 1:30 PM EST
The Federal Trade Commission ordered Google on Thursday to stop misuse of its broad patents on cellphone technology but also found that the company had not violated antitrust or anti-competition statutes in the way it structures its Web search application.
The decision is a major victory for Google, whose competitors, including Microsoft, have pressed vigorously for federal officials to bring an antitrust case. Last year, an F.T.C. staff report recommended that the commission bring such a case.
But the F.T.C. found that although Google sometimes favors its own products when producing search results with its ubiquitous search engine, its actions were “not undertaken without legitimate justification,” said Jon Leibowitz, the F.T.C. chairman.
Google agreed, however, to take certain actions to address what Mr. Leibowitz called “the most problematic business practices” involving search advertising.

READ MORE »

http://www.nytimes.com?emc=na
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The Economist | Politics this week: Highlights of news coverage from December 22nd 2012 - January 4th, 2013.

The EconomistPolitics this week



» America's Congress at last passed a deal that avoids the "fiscal cliff" of automatic spending cuts and tax rises, although the frantic round of negotiations continued past the deadline into New Year's Day. Under the deal, taxes will rise for individuals who earn over $400,000—a retreat from Barack Obama's preferred level of $250,000, but still anathema to many Republicans. Markets were relieved, though another political fight looms over raising the limit on America's debt ceiling. See article»
 
» Hillary Clinton was hospitalised with a blood clot. She is stepping down as America's secretary of state this year and on December 21st Mr Obama nominated John Kerry to replace her. Susan Rice, an early favourite for the job, withdrew from consideration after Republicans criticised her response to September's lethal attack on an American consulate in Libya. See article»
» The Constitutional Council in France struck down François Hollande's flagship measure of a 75% top income-tax rate on those who earn at least €1m ($1.3m), just days before it was due to take effect. He vowed to press ahead with the tax. See article»
 
» Mario Monti, who has headed a non-party government in Italy since November 2011, said that he was ready to serve again as prime minister if asked after a general election, which will probably be held on February 28th. Mr Monti has launched his own policy agenda and held talks with centre-right groups. See article»
 
» Venezuela's president, Hugo Chávez, suffered a respiratory infection and further complications after a fourth operation for cancer in Cuba last month. Officials cancelled New Year's Eve celebrations and organised a mass to pray for Mr Chávez's life, but denied rumours that he was in an induced coma or had died.
» Two people were killed in Argentina and more than a hundred were arrested after two days of looting in several cities before Christmas. The government of President Cristina Fernández blamed dissident members of her Peronist movement for the mayhem. See article»
 
» Bolivia's president, Evo Morales, announced further nationalisations of foreign companies, this time of two Spanish-owned electricity-distribution firms.
» Nearly 64% of Egyptians endorsed an Islamist-flavoured constitution in December. Turnout was less than 33%. The secular opposition hopes to do better in a general election next month. See article»
 
» The UN's commissioner for human rights said that at least 60,000 people had died violently since civil strife erupted in Syria in March 2011, a much higher figure than in previous estimates.

» Rebels in the Central African Republic, arguably Africa's poorest country, closed in on the capital, Bangui, and were poised to overthrow President François Bozizé. See article»
 
» Further rallies were held across India demanding more action on women's rights, after last month's murder of a 23-year-old student. The woman was gang raped, attacked with metal bars and thrown out of a bus in Delhi. The rape sparked violent protests in the capital over official indifference to women's safety. See article»
» Tens of thousands took to the streets of Hong Kong to call for the resignation of the city's chief executive, Leung Chun-ying. Mr Leung has been caught up in a scandal related to building work at his house, a delicate issue in Hong Kong where property prices are sky high. The protesters also demanded a bigger say in selecting future chief executives, a role currently fulfilled by a pro-Beijing committee.

» Kim Jong Un, North Korea's leader, used a new year's speech to urge greater co-operation with the South and to seek improvement in the North's economy. Park Geun-hye, who was elected last month as South Korea's first female president, has indicated that she is willing to restart a dialogue with the North. See article»