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Jul 28, 2013

Analysis: Investors wince but keep calm as U.S. budget battle looms

NEW YORK (Reuters) – Another year, another battle over the U.S. budget. It’s hardly what investors need, but it looks like they’re going to get it just the same.

That doesn’t mean it’s time to panic. Last December’s showdown over tax policy, while unpleasant, turned out to be just a minor speed bump for the U.S. stock market, which raced to record highs after Congress struck a last-minute deal on New Year’s Day.

Jul 28, 2013

Investors wince but keep calm as U.S. budget battle looms

NEW YORK, July 28 (Reuters) – Another year, another battle
over the U.S. budget. It’s hardly what investors need, but it
looks like they’re going to get it just the same.

That doesn’t mean it’s time to panic. Last December’s
showdown over tax policy, while unpleasant, turned out to be
just a minor speed bump for the U.S. stock market, which raced
to record highs after Congress struck a last-minute deal on New
Year’s Day.

Jul 24, 2013

Euro zone, U.S. bounce back but China stalls

LONDON/NEW YORK (Reuters) – Private industry in the euro zone expanded for the first time in more than a year in July, which was also a good month for U.S. factories, but the massive manufacturing engine that powers China continued to lose steam, surveys showed on Wednesday.

The jump in Markit’s “flash” Eurozone Composite PMI to 50.4, which marked the first expansion since January, 2012, should hearten European Central Bank policymakers who have promised to do whatever it takes to pull the 17-country euro zone out of the longest recession in the bloc’s history.

Jul 16, 2013

German TV maker Loewe seeks protection from creditors

MUNICH/FRANKFURT, July 16 (Reuters) – German high-end TV
maker Loewe AG has filed for protection from
creditors’ demands, giving it three months to turn around a
business hit by falling prices and fierce competition from Asia.

Loewe has failed to keep up with mass-market rivals such as
Samsung and LG Electronics, and to cope
with a slide in the average price of TV sets. Its losses almost
tripled to 29 million euros ($37.8 million) in 2012,
year-on-year.

Jul 1, 2013

Factories rebound in June, but hiring down

NEW YORK (Reuters) – Manufacturing activity grew last month, rebounding from an unexpected contraction in May, but hiring in the sector was the weakest in nearly four years, underscoring the challenges still facing the American economy.

Construction spending, meanwhile, neared a four-year high in May, though difficulties in the commercial real estate and factory sector kept recovery in the sector sluggish.

Jul 1, 2013

U.S. factories rebound in June, but hiring down

NEW YORK, July 1 (Reuters) – U.S. manufacturing activity
grew last month, rebounding from an unexpected contraction in
May, but hiring in the sector was the weakest in nearly four
years, underscoring the challenges still facing the American
economy.

Construction spending, meanwhile, neared a four-year high in
May, though difficulties in the commercial real estate and
factory sector kept recovery in the sector sluggish.

Jul 1, 2013

U.S. factories rebound, China struggles, Europe shows promise

NEW YORK/LONDON (Reuters) – U.S. manufacturing staged a modest rebound in June even as hiring declined sharply but activity among China’s large goods producers slowed to multi-month lows as global demand weakened.

Worries about the strength of the factory sector in the world’s two biggest economies took some of the shine off survey results showing that Europe’s prolonged economic slump may have at least stabilized and possibly reversed in some areas.

Jun 28, 2013

Japan must commit to boosting growth: Nishimura

NEW YORK (Reuters) – Japan must embrace strong measures to boost growth, helping the economy withstand an expected consumption tax increase and other efforts to reduce government red ink, a senior Japanese government official said on Friday.

“We need to consider (the) risk that the fiscal condition could deteriorate if the economy is not robust enough to absorb the negative impact of tax increases,” Yasutoshi Nishimura, senior vice minister for economic and fiscal policy at the Cabinet office, said in a speech at the Japan Society in New York.

Jun 22, 2013

Analysis: After the Fed shock, markets set for more turmoil

NEW YORK (Reuters) – Fasten your seatbelts. And expect lots of turbulence.

If that was the message Ben Bernanke was trying to deliver when he said the Federal Reserve could soon start scaling back its massive stimulus program for the U.S. economy, it’s safe to say investors received it loud and clear.

In fact, the sell-off in stocks, bonds and commodities that rippled around the globe after Bernanke’s remarks looks to some like the dawn of a new period of volatile, disorderly trade – a stark change from the calm that prevailed since the Fed began its most recent bond-buying program last autumn.

Jun 22, 2013

After the Fed shock, markets set for more turmoil

NEW YORK, June 22 (Reuters) – Fasten your seatbelts. And
expect lots of turbulence.

If that was the message Ben Bernanke was trying to deliver
when he said the Federal Reserve could soon start scaling back
its massive stimulus program for the U.S. economy, it’s safe to
say investors received it loud and clear.