Industrial Production in U.S. Rises More Than Forecast

Posted by Forexsq 22 hours ago (
img Industrial production rose more than forecast in March after a February gain that was twice as big as previously estimated, indicating U.S. factories recovered after a weather-depressed start to the year.

Output at factories, mines and utilities climbed 0.7 percent after a revised 1.2 percent increase the prior month, figures from the Federal Reserve showed today in Washington. The median fore

A bigger 10%-15% correction is coming this autumn: Bank of America Merrill Lynch

Posted by Forexsq 5 days ago (
img Bank of America Merrill Lynch strategist Michael Hartnett says relax, this isn't the big correction. That's coming in September. He tells how to prepare for it.

Dealers say GM customer anxiety rising, sales may take hit

Posted by Forexsq 13 days ago (
img An ignition switch defect linked to deadly crashes and mounting recalls are raising anxiety in General Motors Co showrooms, according to dealers who increasingly are fielding calls from customers concerned about the safety of GM cars.

The Ancira Auto Group in San Antonio, Texas, expected a banner March after a strong February, but it came up 28 vehicles short of its goal of selling 200 cars an

Spacey Urges 'House of Cards' Tax Break With Real Lawmakersoomberg

Posted by Forexsq 19 days ago (
img Actor Kevin Spacey glided past the crab balls and filet-mignon skewers at the Red Red Wine Bar in Annapolis, Maryland, as he charmed a roomful of the state’s political elite.

Among the roughly 150 attendees at the March 21 event were Maryland state lawmakers -- real ones, unlike those who appear in Netflix Inc.’s political thriller “House of Cards,” in which Spacey stars as a manipulative powe

Dying Memphis Neighborhood Foretells Next U.S. Crisis: Mortgages

Posted by Forexsq 23 days ago (
img When Rebecca Black bought the three-bedroom house at 698 Hazelwood Road in southwest Memphis in May 2005 and moved in with her two teenage sons, it was a quiet community. Children played in the street and neighbors tended their yards. She could afford the $57,000 mortgage if she skipped oil changes for the car and served the boys store-brand groceries.

Then trouble came.

Her next-door neigh

Two-thirds of those who live paycheck to paycheck aren't poor, study finds

Posted by Forexsq 26 days ago (
img A study from Greg Kaplan and Justin Weidner of Princeton University and Giovanni Violante of New York University finds that two-thirds of the 38 million American households who consume all their disposable income every pay period aren’t poor.

The study, released at a Brookings Institution event, found that these so-called wealthy-hand-to-mouth are older than their poor paycheck-to-paycheck cou

Banks to be hit with Microsoft costs for running outdated ATMs

Posted by Forexsq 33 days ago (
img Banks around the world, consumed with meeting more stringent capital regulations, will miss a deadline to upgrade outdated software for automated teller machines (ATMs) and face additional costs to Microsoft to keep them secure.

The U.S. software company first warned that it was planning to end support for Windows XP in 2007, but only one-third of the world's 2.2 million ATMs which use the sys

Pimco is only fund group in top 10 to have outflows last month

Posted by Forexsq 34 days ago (
img Pimco, the world’s largest bond-fund manager, continues to bleed assets as investors focus on the firm’s high profile management turnover, including the fraught departure of CEO Mohamed El-Erian. But outflows from its funds look even worse in comparison to the rebounding flows across the rest of the market, Morningstar data show.

Credit Suisse U.S. Clients in Limbo as Probe Inches Ahead

Posted by Forexsq 40 days ago (
img Thousands of Credit Suisse Group AG (CSGN)’s U.S. clients still don’t know whether tax authorities will learn their identities as prosecutors work to conclude a three-year probe of how the bank helped them evade taxes.

U.S. senators last week faulted the Justice Department for securing names for only 238 of 22,000 Americans with Credit Suisse accounts, saying the bank helped them hide as much

How I went from $50,000 in debt to $50,000 in savings

Posted by Forexsq 54 days ago (
img When Julie Berry’s personal and professional lives were falling apart, if someone had told her that everything would be OK—better than before, even—she probably wouldn’t have believed it. Her world had been turned upside down and it was hard to imagine it would ever be right again.

A dressage instructor and trainer in Texas, she had thought she had a good thing going. She managed a busy barn a

Detroit bankruptcy bond fight a watershed for municipal market

Posted by Forexsq 58 days ago (
img The city of Detroit's effort to declare some of its general obligation bonds as unsecured debt will be challenged in bankruptcy court Wednesday in what could be a precedent-setting turn in the largest-ever municipal bankruptcy in U.S. history.

The issue in front of federal bankruptcy Judge Steven Rhodes is whether a pledge of Detroit tax revenue to pay off the voter-approved bond issues is a b

Jos. A. Bank to Buy Eddie Bauer for Outdoor Clothing Brand

Posted by Forexsq 61 days ago (
img Jos. A. Bank Clothiers Inc. (JOSB), the retailer resisting a merger with Men’s Wearhouse Inc. (MW), said it will buy the Eddie Bauer brand for cash and new shares, and buy some of its own stock at an 18 percent premium to reward shareholders.

Jos. A. Bank’s purchase of Eddie Bauer is based on an enterprise value of $825 million, including $564 million in cash, the Hampstead, Maryland-based com

13-Fs: Consider this before copying Buffett, Icahn

Posted by Forexsq 61 days ago (
img Does it pay to piggyback? That’s the question investors will be asking Friday as the deadline arrives for fourth-quarter 13-F filings with the Securities and Exchange Commission.

These documents detail holdings and must be filed within 45 days of the end of a quarter by any institutional investment manager with a stock portfolio of $100 million or more.

They can definitely move markets. Oil

Comcast takeover of Time Warner Cable to reshape U.S. pay TV

Posted by Forexsq 62 days ago (
img Comcast Corp's proposed $45.2 billion takeover of Time Warner Cable Inc would combine the country's top two cable providers into a colossus that could reshape the U.S. pay TV and broadband industry if it clears regulatory hurdles.

The cable provider resulting from the merger will boast a footprint spanning from New York to Los Angeles with a near-dominant position in broadband Internet which m

Beijing misses out on billions as rich dodge taxes

Posted by Forexsq 65 days ago (
img China is failing to collect billions in taxes from some of its wealthiest citizens, hampering efforts to tackle a widening gap between rich and poor.

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