11 March, 2015 by The TZ Newswire Staff Comments Off on Metals Stocks: Gold rebounds, but remains near November lows
Metals Stocks: Gold rebounds, but remains near November lows
Gold prices inched higher but were still stuck down near November lows as the U.S.
11 March, 2015 by The TZ Newswire Staff Comments Off on Currency Carnage Continues In Asia, EURUSD 1.04 Pushes DXY Over 100
Currency Carnage Continues In Asia, EURUSD 1.04 Pushes DXY Over 100
As the world’s dollar funding shortage continues to unwind, EURUSD has re-collapsed to a 1.04 handle in the Asia session and dragged The USD Index above 100 for the first time since 2003. This is now the fastest surge in the USD since records began and EM FX is getting monkey-hammered. Swissy has almost retraced the entire post-SNB de-peg surge.
11 March, 2015 by The TZ Newswire Staff Comments Off on Asian shares rise as South Korea cuts rates
Asian shares rise as South Korea cuts rates
A surprise interest rate cut by South Korea’s central bank on Thursday helped lift an index of Asian stocks away from the previous session’s seven-week lows, while the prospect of higher U.S. interest rates buoyed the dollar. The Bank of Korea’s monetary policy committee cut its base rate (KROCRT=ECI) by 25 basis points to a record low of 1.75 percent, its first cut in five months. The Bank of Thailand cut its policy interest rate on Wednesday, also a surprise step, and India has cut rates twice this year. The Korea Composite Stock Price Index (KOSPI) (.KS11) added 0.4 percent.
11 March, 2015 by The TZ Newswire Staff Comments Off on Fed slashes payout plans of large Wall Street banks
Fed slashes payout plans of large Wall Street banks
Four of the largest U.S. banks just scraped by in an annual Federal Reserve check-up on the industry’s health, underscoring their top regulator’s enduring doubts about Wall Street’s resilience more than six years after the crisis. Goldman Sachs Group Inc (GS.N), Morgan Stanley (MS.N) and JPMorgan Chase & Co (JPM.N), all with large and risky trading operations, lowered their ambitions for dividends and share buybacks, the Fed said on Wednesday, to keep them robust enough to withstand a hypothetical financial crisis.
11 March, 2015 by The TZ Newswire Staff Comments Off on Uber, Lyft rebuffed in bids to deem drivers independent contractors
Uber, Lyft rebuffed in bids to deem drivers independent contractors
Ride-hailing apps Uber and Lyft failed to persuade separate U.S. judges on Wednesday to rule that their drivers are independent contractors instead of employees, in cases that have wide implications for Silicon Valley “sharing economy” firms. U.S. District Judges Edward Chen and Vince Chhabria in San Francisco federal court said in two rulings that juries would have to determine the status of each companies’ drivers.
11 March, 2015 by The TZ Newswire Staff Comments Off on Court upholds dismissal of manslaughter charges against BP employees
Court upholds dismissal of manslaughter charges against BP employees
Robert Kaluza and Donald Vidrine were the two highest-ranking supervisors on board the Deepwater Horizon rig when disaster struck on April 20, 2010, sending millions of barrels of oil into the Gulf of Mexico. A three-judge panel of the 5th U.S. Circuit Court of Appeals on Wednesday dismissed 11 counts of seaman’s manslaughter charges facing Kaluza and Vidrine.
11 March, 2015 by The TZ Newswire Staff Comments Off on GE weighs deeper cuts to banking business: WSJ
GE weighs deeper cuts to banking business: WSJ
“GE is an industrial company first and foremost,” Chief Executive Jeff Immelt says in a letter to shareholders to be published on March 16 with the company’s annual report. GE’s shares were up slightly at $25.23 in extended trading on Wednesday.