Steven's Feed
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.

Jun 20, 2013

Chinese, US factories struggle, Europe still in slump

LONDON/NEW YORK, June 21 (Reuters) – Factory output in China
weakened to a nine-month low in June while U.S. manufacturing
closed out its worst quarter in the last four, suggesting the
road to recovery for the world economy remained an uneven one.

A day earlier, the Federal Reserve said the U.S. economy was
expanding strongly enough for the central bank to begin slowing
the pace of its stimulative bond purchases later this year.

Jun 14, 2013

Foreigners flee from U.S government bonds in April -Treasury

NEW YORK, June 14 (Reuters) – Foreign investors dumped U.S.
government debt in April and were net sellers of all long-dated
U.S. securities for the third consecutive month, the U.S.
Treasury said on Friday.

Selling was heavily concentrated in Treasury bonds and
notes, with overseas investors unloading $54.5 billion, the
first net outflow in seven months. Private investors alone sold
$30.8 billion – the largest one-month outflow on record.

Jun 13, 2013

ECB’s Weidmann warns crisis policies could weaken monetary policy

MUNICH (Reuters) – Central banks independence is currently increasingly under threat and central banks are partly to blame for the situation, European Central Bank Governing Council member Jens Weidmann said on Thursday.

Central banks meddling in fiscal policy weakens their ability to take care of their main task of keeping inflation low, he added, a day after a round of hearings to the ECB’s bond-buying program ended at the German constitutional court.