“NEW YORK, May 15 (Thomson Reuters Accelus) – CtW Investment Group, a labor-backed shareholder group, last year warned JPMorgan Chase & Co that its risk management committee was not up to the task and sought to remove one of its members, Ellen Futter, who had been a director at American International Group Inc (AIG) before its near-collapse in 2008.”
Comments »Monthly Archives: May 2012
Credit Suisse Says the Balance Sheet Recession in Japan is Finally Ending
After 20 years of economic malaise; Credit Suisse touts three signs that Japan’s balance sheet recession has finally come to an end.
Comments »Activist Firm Takes $600M Stake in PepsiCo
“(AP) NEW YORK – Activist investor Ralph Whitworth says his firm has taken a $600 million stake in PepsiCo Inc. (PEP), a move that could ramp up pressure on the company to make changes.”
Comments »Wiedemer: Fed to Print More Money If Stock Market Drops 15%-20%
“European countries should resist the urge to scrap austerity measures, says Robert Wiedemer, financial commentator and best-selling author of “Aftershock.”
Meanwhile in the U.S., he warns that a sluggish economy may prompt the Federal Reserve to roll out a third round of stimulus known as quantitative easing, under which the U.S. central bank buys assets held by financial institutions, flooding them with liquidity in the process with the aim of pushing interest rates down and encouraging investment and hiring.
“If you saw the market drop 15-20 percent, I think the Fed will definitely move in,” he tells Newsmax TV in an exclusive interview. ”
Comments »Pimco’s El-Erian: European Union is Set to Shrink
Debt-ridden Greece is currently embroiled in a political stalemate, with political parties unable to agree on a coalition government.
Leftwing political parties remained opposed to austerity measures tied to bailout payments given to the country by the European Commission, the European Central Bank and the International Monetary Fund, known collectively as the Troika.”
Target, $TGT, Beat the Street by a Dime
Facebook Increases IPO Size by 25%
“NEW YORK/SAN FRANCISCO (Reuters) – Facebook Inc will increase the size of its initial public offering by 25 percent, a source familiar with the matter said, and could raise as much as $16 billion as strong investor demand for a share of the No.1 social networktrumps debate about the company’s long-term potential to make money.
Those concerns over revenue growth were underscored earlier on Tuesday, when General Motors said it planned to pull out of advertising on Facebook.”
Comments »General Electric Will Receive a Special Dividend From its Financial Unit
The payout of $4.5 billion is the first since a suspension of payments in 2009.
Comments »BoE Forecasts Lower Growth and Higher Inflation While Preparing for a Debt Crisis
“Bank of England Governor Mervyn King said officials have prepared for dangers posed byEurope’s debt crisis, after the bank lowered growth forecasts and raised predictions for inflationthis year.
“Contingency plans have been discussed and have been for a considerable time,” King said at a press conference to present the bank’s quarterly Inflation Report today in London. “We are navigating through turbulent waters with the risk of a storm heading our way from the continent.”
Comments »Spanish German Yield Spreads Widen to Record High Above 5%
Shell and Korea Gas to Build a LNG Export Plant in Canada
“Royal Dutch Shell Plc (RDSA) and three Asian partners will jointly develop a liquefied natural gas export project in Canada’s British Columbia province and are in talks with local communities to win their support.”
Comments »Weak Consumer Confidence and Slowing Wage Growth Spur Dovish Expectations in Australia
“Australian consumer confidence hovered near the weakest level this year and wage growth slowed, underpinning bets the central bank will cut interest rates next month to the lowest level in more than two years.
The sentiment index for May rose 0.8 percent to 95.3, a Westpac Banking Corp. (WBC) and Melbourne Institute survey taken May 7-11 of 1,200 consumers showed today in Sydney. The wage price index, which measures hourly pay rates excluding bonuses, advanced 0.9 percent last quarter from the previous three months, when it rose 1 percent, the statistics bureau said”
Comments »Analyst Expect Japan’s GDP to Have Peaked in Q1; QE 69 Expected
Analysts expect GDP growth of 3.5% to be reported tomorrow. A great comeback from the low of 0.7% in Q4 of 2011. Markets expect stimulus to follow.
Comments »China Adds to U.S. Treasuries Holdings in March; Position Increased by 1.3%
“China remained the largest foreign U.S. creditor, adding to its holdings in March as the Treasury 10-year note yield reached the highest level since October.
China’s holdings rose by 1.3 percent to $1.17 trillion, U.S. Treasury Department data released yesterday show. Those of Japan, America’s second-largest lender, slipped 0.2 percent to $1.08 trillion. Net foreign purchases of Treasuries increased $17.8 billion, or 0.4 percent, to a record $5.12 trillion, the data show.”
Comments »The Greek Tragedy Takes Down Equities, Oil, Gold, and The Euro
Global Markets Rip Tits Off the Bulls While U.S. Futures Look to Avoid the Gallows Pole
Yields for Italy, Spain, France, and Germany …
[youtube://http://www.youtube.com/watch?v=sv5PeJHBpuA 450 300] Comments »Comedy Relief: Market Action Theatre, Starring Krull
Fucking outrageous
Comments »PLUNGE MODE: Futs, Commodities, Asia, Sovereign Bonds: ALL LOWER
S&P futures are down 6. Oil, gold and silver are all lower.
Asian markets are sliding between 2-3% and Italian bond yields spiked hard to 6.17%, while Spanish yields approach 6.5%.
Comments »FLASH: Futures Go Negative As Asia Gets Its Liver Punched In
Here’s The Email Zuckerberg Sent To Cut His Cofounder Out Of Facebook
Everyone remembers the scene in The Social Network where Zuckerburg cuts his co-founder out by diluting his stake in the company. The Business Insider has a source who has provided the actual email sent from 20-year old Zuckerburg to his lawyer whereby the go-ahead was given to draft the paperwork which would ultimately result in the dissolution of their partnership.
Read the email here.
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