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May 23, 2013

U.S., Chinese factories struggle, Fed hints at less stimulus

LONDON/NEW YORK, May 23 (Reuters) – Chinese factory activity
declined in May for the first time in seven months and U.S.
manufacturing grew at its slowest clip since October, suggesting
it may take a while before the global economy starts to pick up
steam.

Thursday’s downbeat business surveys from the world’s top
two economies, however, may not assuage some of the market fears
stoked this week by Federal Reserve Chairman Ben Bernanke, who
hinted that the U.S. central bank could soon scale back monthly
bond purchases provided the economy maintained recent momentum.

May 16, 2013

Budget deficit cut adds to optimism about U.S. assets

NEW YORK, May 16 (Reuters) – U.S. companies are hiring more
workers and home prices, stock markets and energy production are
climbing. But a sudden narrowing in the U.S. budget deficit
could trump all that – and provide another leg up for U.S. asset
prices.

The Congressional Budget Office on Tuesday slashed its
budget deficit forecast for the current fiscal year ending Sept.
30 to $642 billion, a massive $203 billion cut from its estimate
in February.

May 14, 2013

German woman covered for neo-Nazi murder gang, court hears

MUNICH, Germany (Reuters) – A 38-year-old German woman charged with complicity in a series of racist murders played a key role in creating an air of normality around her neo-Nazi cell, a prosecutor said on Tuesday.

The case of Beate Zschaepe and the National Socialist Underground (NSU), the group blamed for the murders of eight Turks, a Greek and a German policewoman, has scandalized Germany and exposed an institutional blind spot for far-right extremism.

May 13, 2013

Insight: Housing improvement may herald return of U.S. workforce mobility

NEW YORK/WASHINGTON (Reuters) – When David Pendery, a corporate public relations specialist, decided to move his family from Colorado to Illinois this year for work, his biggest worry was whether he would be able to sell his home quickly.

It took just three days.

“We certainly thought selling our house would take longer,” said Pendery, who started in February at Kerry Ingredients, a flavoring provider for the food and beverage industries.

May 13, 2013

Housing improvement may herald return of U.S. workforce mobility

NEW YORK/WASHINGTON, May 12 (Reuters) – When David Pendery,
a corporate public relations specialist, decided to move his
family from Colorado to Illinois this year for work, his biggest
worry was whether he would be able to sell his home quickly.

It took just three days.

“We certainly thought selling our house would take longer,”
said Pendery, who started in February at Kerry Ingredients, a
flavoring provider for the food and beverage industries.

May 9, 2013

Einhorn’s advice to investors: don’t take my advice

NEW YORK, May 8 (Reuters) – David Einhorn, one of the most
closely followed managers in the $2 trillion hedge fund
industry, had some blunt advice on Wednesday for his fellow
investors: Do your own homework.

Einhorn, this year’s star attraction at the Sohn Investment
Conference, an annual confab where the industry’s top investors
share their favorite trade ideas, wrapped up his presentation by
offering some words of warning about his public comments.

May 9, 2013

Einhorn’s advice to investors: don’t take my advice

NEW YORK, May 8 (Reuters) – David Einhorn, one of the most
closely followed managers in the $2 trillion hedge fund
industry, had some blunt advice on Wednesday for his fellow
investors: Do your own homework.

Einhorn, this year’s star attraction at the Sohn Investment
Conference, an annual confab where the industry’s top investors
share their favorite trade ideas, wrapped up his presentation by
offering some words of warning about his public comments.

May 8, 2013

HIGHLIGHTS: Ira Sohn Investment Conference in New York

NEW YORK, May 8 (Reuters) – High-profile money managers
raised red flags about the loose monetary policies taking place
around the world at the annual Sohn Investment Conference, a
closely watched charitable event, on Wednesday.

The event, which raises money for pediatric cancer research,
is where big-name hedge fund managers come to share their “best
ideas” with other wealthy investors.

May 2, 2013

Analysis: Access to China’s onshore market could beckon ETFs

NEW YORK/HONG KONG (Reuters) – Where there’s an investing niche, there’s probably an exchange-traded fund that exploits it. Mainland China is an exception.

Chinese plans to increase foreign access to its $3 trillion onshore stock market may pave the way for ETFs that can own these shares and be sold to foreigners. But getting there is likely to be a long, difficult process, and investing in such securities will likely carry big risks.

May 2, 2013

Access to China’s onshore market could beckon ETFs

NEW YORK/HONG KONG, May 2 (Reuters) – Where there’s an
investing niche, there’s probably an exchange-traded fund that
exploits it. Mainland China is an exception.

Chinese plans to increase foreign access to its $3 trillion
onshore stock market may pave the way for ETFs that can own
these shares and be sold to foreigners. But getting there is
likely to be a long, difficult process, and investing in such
securities will likely carry big risks.