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Apr 11, 2016

The Guardian | Business | Economics | IMF | Panama Papers - April 11, 2016: IMF Chief Talks Panama Papers Fallout: Time to "Think Outside Box" on Global Tax by David Smith.

theguardian.com

David Smith
 
The head of the International Monetary Fund (IMF) has said it is time to “think outside the box” on global tax but warned that a proposal by Oxfam to establish a UN global tax body faces huge obstacles.

The Guardian | Environment |Energy | Renewable Energy - April 12, 2016 (00:59 BST): Renewwables Victoria Renewables Target of 30% is Achievable, Modeling Shows by Gay Alcorn

theguardian.com

Gay Alcorn
 
With the Victorian Labor government’s announcement on a renewable energy target imminent, environment, union and business groups are urging the premier, Daniel Andrews, to be ambitious, saying it would send a national message on clean energy.

The Guardian | Business | Economics | World Bank - April 11, 2016: Demand For World Bank Loans Nears Crisis Levels by Larry Elliott.

theguardian.com

Larry Elliott
 
Demand for loans from the World Bank has reached levels unsurpassed outside of financial crises as developing countries struggle to cope with the weakness of the global economy.

The Guardian | Business | Banking | Goldman Sachs April 11, 2016: Goldman Sachs to Pay $5 Billion For Its Role in the 2008 Financial Crisis by Jana Kaperkevic.

theguardian.com

Jana Kasperkevic
Goldman Sachs will pay $5.06bn for its role in the 2008 financial crisis, the US Department of Justice said on Monday. The settlement, over the sale of mortgage-backed securities from 2005 to 2007, was first announced in January.

WSJ | Forex Closing on April 11, 2016.

The Wall Street Journal Forex Closing
Major Currencies
Monday, April 11, 2016

WSJ | Major Indexes Closing on April 11, 2016.

The Wall Street Journal Major Indexes Closing
Major Indexes 5:45 p.m. EDT 04/11/16

WSJ | Biggest Decliners Closing on April 11, 2016.

The Wall Street Journal Biggest Decliners Closing
Biggest Decliners
4:46 pm ET 04/11/2016
NYSE

WSJ | Most Actives Closing on April 11, 2016.

The Wall Street Journal Most Actives Closing
Most Active Stocks by Volume
4:31 pm ET 04/11/2016
NYSE

WSJ | Biggest Gainers Closing on April 11, 2016.

The Wall Street Journal Biggest Gainers Closing
Biggest Gainers
4:46 pm ET 04/11/2016
NYSE

DealBook P.M. Edition - April 11, 2016: Canadian Pacific Ends Bid for Norfolk Southern.

 
Monday, April 11, 2016
TOP STORY
A Canadian Pacific freight train near Baker Creek, Alberta.
Canadian Pacific Ends Bid for Norfolk Southern Facing opposition from its target and regulators, Canadian Pacific withdrew a resolution for Norfolk Southern shareholders to vote on merger talks.

Wall Street at Close Report on April 11, 2016, by CNBC: Stocks Give Up Gains, Close Lower With S&P Red For 2016.

cnbc.com

Evelyn Cheng
 
U.S. stocks closed lower Monday as investors looked ahead to earnings season.

"In this sort of environment where the news is mixed and the valuations are pretty full, it's an ample time for uncertainties to come to the fore," said Bruce McCain, chief investment strategist at Key Private Bank.
The major indexes turned lower as the close neared. The Dow Jones industrial average was about 8 points lower after earlier adding more than 150 points.
Materials and financials led S&P 500 advancers while telecommunications and health care were among the greatest decliners. The iShares Nasdaq Biotechnology ETF (IBB) traded more than 1.5 percent lower in afternoon trade.

"I just think we jumped out of the gate a little ahead of ourselves with Europe and China this morning," said Peter Coleman, head trader at Convergex.
European stocks ended off session highs, while the STOXX Europe 600 Bank index outperformed. Fresh reports supported hopes the Italian government will soon form a plan to set up a state-backed fund that will buy bad loans held by the country's banks.
The Shanghai composite jumped more than 1.6 percent amid some encouraging inflation data.
The Japanese yen reversed in late-morning trade to resume strengthening against the U.S. dollar, near 107.9 yen as of 3:36 p.m. ET.
"The yen is still hanging tough. It's a flight-to-safety currency and perhaps you have a little bit of, the belief system in central banks is breaking down," said John Caruso, senior market strategist at RJO Futures.
Gold futures for June delivery jumped $14.20 to $1,258.00 an ounce.
U.S. crude oil futures settled up 64 cents, or 1.61 percent, at $40.36 a barrel. Earlier, WTI hit its highest since March 23.
Read MoreLots to rock the market in the week ahead

The U.S .dollar index held slightly lower, with the euro above $1.14.
"If we put a low in oil and a top in the dollar in the short-term, that's very constructive for corporate America," said Art Hogan, chief market strategist at Wunderlich Securities.
No major U.S. data is due Monday. Retail sales and inflation data are expected later in the week.

Treasury yields came off highs, with the 2-year yield near 0.70 percent and 10-year yield around 1.73 percent as of 2:34 p.m. ET.
The Dow transports held about 0.2 percent higher after briefly rising more than 1 percent higher to top its 200-day moving average in intraday trade.
U.S. President Barack Obama is happy with the job done by Federal Reserve Chair Janet Yellen, with whom he is meeting on Monday to discuss regulatory issues and world economy, the White House said in a Reuters report.
"The president has been pleased with the way she has fulfilled what is a critically important job," White House spokesman Josh Earnest said at a news briefing.
In prepared remarks for a Monday morning speech, New York Federal Reserve Bank President William Dudley focused on the links between economic and geographic mobility in the United States and did not comment on monetary policy or the economy, Reuters said.
Alcoa is set to unofficially kick off the first-quarter reporting season with its earnings after the close, while major banks such as JPMorgan Chase, Bank of America and Citigroup are all due to post results later in the week.
"I think the focus this week will be on earnings. The challenge will be, can investors stomach current valuations?" said Jack Ablin, chief investment officer at BMO Private Bank.
Aggregate first-quarter S&P 500 earnings are estimated at $26.17, representing a decline of 8.1 percent year-over-year, for the third quarterly decline in a row, according to a Friday note from Lindsey Bell, senior analyst at S&P Global Market Intelligence. "Such a steep decline in growth hasn't been recorded since second-quarter 2009," she said.

U.S. stock index futures held higher ahead of the open, with Dow futures up about 70 points.
"Perhaps investors anticipate this is going to be the worst quarter of the year and maybe brighter skies ahead," Ablin said.



 

DJIA Dow Jones Industrial Average 17556.41
-20.55 -0.12%
S&P 500 S&P 500 Index 2041.99
-5.61 -0.27%
NASDAQ Nasdaq Composite Index 4833.40
-17.29 -0.36%
In corporate news, Goldman Sachs will pay $5 billion to settle government probes into the firm's sale of mortgage-backed securities prior to the financial crisis, the Justice Department announced Monday.
Asian stocks closed mixed overnight, with the Nikkei 225 falling 0.44 percent while the Shanghai composite gained more than 1.6 percent.

China's producer prices declined a less-than-expected 4.3 percent in March from a year earlier while consumer prices were unchanged from February's rate with a 2.3 percent rise last month.
U.S. stocks closed well off session highs Friday, despite a rally in oil, as the yen strengthened against the U.S. dollar.
The major averages declined more than 1 percent for the week, the worst since Feb. 5 for S&P 500 and Nasdaq composite and the worst since Feb. 12 for the Dow Jones industrial average.
Read More Early movers: NSC, YHOO, HTS, GOOGL, OSTK, GE, BLMN, QSR, GM & more

In afternoon trade, the Dow Jones industrial average added 91 points, or 0.52 percent, to 17,668, with Goldman Sachs leading advancers and Nike the greatest laggard.
The S&P 500 gained 8 points, or 0.4 percent, to 2,055, with materials leading six sectors higher and telecommunications the greatest decliner.
The Nasdaq composite rose 23 points, or 0.25 percent, to 4,874.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, rose to trade near 15.25.

About three stocks advanced for every decliner on the New York Stock Exchange, with an exchange volume of 396 million and a composite volume of 1.8 billion in afternoon trade.

U.S. crude oil futures for May delivery gained 54 cents to $40.28 a barrel on the New York Mercantile Exchange.
Gold futures for June delivery gained $15.70 to $1,259.50 an ounce as of 1:08 p.m. ET.
Reuters contributed to this report.
On tap this week:

Monday
Earnings: Alcoa, Pep Boys
Tuesday
Earnings: Fastenal, CSX, Adtran
6 a.m. NFIB survey
8:30 a.m. Import prices
9 a.m. Philadelphia Fed President Patrick Harker
1 p.m. $24 billion three-year note auction
2 p.m. Federal budget
3 p.m. San Francisco Fed President John Williams
4 p.m. Richmond Fed President Jeffrey Lacker
Wednesday
Earnings: JPMorgan Chase, Commerce Bancshares, Pier 1 Imports, Kinder Morgan, Noble
8:30 a.m. Retail sales; PPI
10 a.m. Business inventories
10:30 a.m. EIA oil inventories
1 p.m. $20 billion 10-year note auction
2 p.m. Beige book
Thursday
Earnings: Bank of America, BlackRock, Wells Fargo, PNC Financial, First Republic Bank, Freeport-McMoRan, Snap-on, Advanced Micro, Delta Air Lines, Shaw Communications, Infosys
8 a.m. Bank of Japan Governor Haruhiko Kuroda at CFR, New York
8:30 a.m. Jobless claims
8:30 a.m. CPI
10 a.m. Atlanta Fed President Dennis Lockhart
10 a.m. Fed Gov. Jerome Powell at Senate Banking subcommittee
1 p.m. $12 billion 30-year bond auction
Friday
Tax day
Earnings: Citigroup, Charles Schwab
8:30 a.m. Empire State survey
9:15 a.m. Industrial production
10 a.m. Consumer sentiment
12:50 p.m. Chicago Fed President Charles Evans
4 p.m. Feb TIC data
*Planner subject to change.
More From CNBC.com:

NYT Opinion Pages - April 11, 2016: Can Liberals Frack

nytimes.com

Gary Sernovitz
Thomas Fuchs
AS the Democratic presidential campaign comes to New York, the candidates are competing to dance on the grave of fracking,

CMI Spot Prices at Close on April 11, 2016.

Spot Prices as of traditional New York closing times

Monday, April 11, 2016


 

SEC Press Release - April 11, 2016: Company Misled Investors About Energy-Efficient Technology.

 SEC Seal
04/11/2016 

European Markets at Close Report on April 11, 2016, by CNBC: Europe Ends Mostly Higher as Oil Rebounds; Banks Rally.

cnbc.com

Arjun Kharpal, Holly Ellyatt, Alexandra Gibbs
European markets ended mostly higher on Monday as a recovery in oil prices and a rally in Italian banks boosted investor sentiment.

The Guardian | World | Americas | Perú: Perú Election - April 11, 2016: Keiko Fujimori Faces Run-Off Despite First Round Lead.


FDIC Weekly National Rates and Rate Caps Update - April 11, 2016.



FDICOn May 29, 2009, the FDIC Board of Directors approved a final rule making certain revisions to the interest rate restrictions applicable to less than well capitalized institutions under Part 337.6 of the FDIC Rules and Regulations. The final rule redefined the "national rate" as a simple average of rates paid by U.S. depository institutions as calculated by the FDIC. The national rates and rate caps for various deposit maturities and sizes are provided below.
For more information. see Financial Institution Letter FIL-25-2009
Rates updated April 11, 2016

The Guardian | World || US | Homan Square - April 11, 2016:

theguardian.com
 
Spencer Ackerman
 
Internal documents from the Chicago police department show that officers used physical force on at least 14 men already in custody at the warehouse known as Homan Square.

EBRD Consultancy Procurement Notices - April 11, 2016 : Design and Implementation of a Pilot Phase for Knowledge Management System at the EBRD

EBRD

ebrd.com
 
Project Description:The European Bank for Reconstruction and Development (the 'EBRD' or the 'Bank') has a mandate to support transition to well-functioning market economies in countries committed to pluralistic

NYT First Political Draft on April 11, 2016: Ted Cruz Sees Milk and Honey in Blue California by Matt Flegenheimer

Monday, April 11, 2016

The New York Times

NYTimes.com/FirstDraft »

The New York Times

Monday, April 11, 2016

Supporters of Senator Ted Cruz of Texas watching him speak at the Colorado Republican State Assembly in Colorado Springs on Saturday.
Supporters of Senator Ted Cruz of Texas watching him speak at the Colorado Republican State Assembly in Colorado Springs on Saturday. Nick Cote for The New York Times
Ted Cruz Sees Milk and Honey in Blue California
By MATT FLEGENHEIMER

DealBook Today's Top Stories - April 11, 2016: How Valeant's Missteps Derailed Female Viagra | Daily Mail in Talks With Private Equity Firms for Yahoo Bid | Puerto Rico Rescue Bill Nearly Complete.

Monday, April 11, 2016
TODAY'S TOP HEADLINES

Bloomberg View - April 11, 2016: Unintended Consequences of Panama Papers.

bloombergview.com

Mohamed A. El-Erian
 
The revelations about offshore accounts that came to light in the so-called Panama Papers will reinvigorate government efforts to rein in not just tax evasion, which is illegal, but tax avoidance, too.

U.S. Stock Market Future Indications - April 11, 2016: Stock Futures Rise as Dollar Steadies, Investors Wait for ALCOA.

marketwatch.com

Barbara Kollmeyer
 
Stock futures traded higher on Monday, as the dollar recovered some ground against the yen and as investors waited for Alcoa Inc.’s results, the unofficial start of earnings season.

Asian Markets at Close Report on March 11, 2016 by MarketWatch: China Stocks Aided by Soft Inflation data, but Strong Yen Hurts Nikkeii.

marketwatch.com

Chao Deng
China shares jumped Monday on expectations that soft inflation leaves room for authorities to stimulate the economy through further monetary easing.

The Guardian UK | Media | Media Briefing - April 11, 2016. Today's Media Stories from the Papers.

theguardian.com

Top story on MediaGuardian

Daily Mail publisher in talks with companies over Yahoo takeover
Daily Mail and General Trust aims to take on news and media properties if a private equity company strikes a deal