18 May, 2015 by The TZ Newswire Staff Comments Off on Asian shares wobble on Greek woes, euro pressured
Asian shares wobble on Greek woes, euro pressured
MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1 percent in early trade. Japan’s Nikkei stock index (.N225) rose 0.5 percent. Both the Dow Jones industrial average (.DJI) and the S&P 500 (.SPX) closed at record highs, the third straight for the latter, after lackluster economic data raised hopes that the U.S. Federal Reserve would hold off raising interest rates.
18 May, 2015 by The TZ Newswire Staff Comments Off on Greece nears debt deal in May as money runs low
Greece nears debt deal in May as money runs low
Greece is near a cash-for-reforms deal with its euro zone partners and the International Monetary Fund that would help it meet debt repayments next month, the country’s finance minister said on Monday, as worries persist over a possible bankruptcy. Athens has been defending its “red lines” in talks with lenders, refusing to yield on further pension cuts and more labor market liberalization to clinch a deal that would release remaining bailout aid, despite a pressing cash crunch. “I think we are very close (to a deal) …
18 May, 2015 by The TZ Newswire Staff Comments Off on US Bank, Bank of America win dismissal of mortgage claims
US Bank, Bank of America win dismissal of mortgage claims
U.S. Bancorp and Bank of America Corp won a dismissal of claims in lawsuits accusing them of breaching their duties as trustees for residential mortgage-backed securities that suffered losses tied to the …
18 May, 2015 by The TZ Newswire Staff Comments Off on Icahn says ‘dramatically undervalued’ Apple should trade at $240
Icahn says ‘dramatically undervalued’ Apple should trade at $240
Icahn also used an open letter to Apple Chief Executive Tim Cook to call for it to execute a much larger share buyback, returning to a longtime theme of the activist investor’s campaign for the iPhone maker to boost shareholder returns. Apple shares rose as much as 1.8 percent to $130.72 by midday on Monday. The stock has gained more than a quarter since October, when Icahn first said it was undervalued.
18 May, 2015 by The TZ Newswire Staff Comments Off on U.S. economy isn’t as weak as estimates suggest, Fed paper says
U.S. economy isn’t as weak as estimates suggest, Fed paper says
The U.S. economy is probably not as weak as current estimates suggest, a paper published Monday by the Federal Reserve Bank of San Francisco said, potentially adding to arguments for raising interest rates sooner rather than later. The paper’s conclusions are at odds with the findings published last week by economists at the Washington-based Federal Reserve Board.
18 May, 2015 by The TZ Newswire Staff Comments Off on Argentine court bars Citibank from exiting custody of disputed bonds
Argentine court bars Citibank from exiting custody of disputed bonds
An Argentine court on Monday ordered Citibank Argentina not to take any further steps toward quitting its role as custodian of some Argentine sovereign bonds while a row with U.S. creditors over unpaid debt rages on, the government said. President Cristina Fernandez’s government announced last month it was suing the local subsidiary of Citigroup Inc (C.N) for striking an illegal deal with a group of New York-based hedge funds fighting for full payment on defaulted debt.
18 May, 2015 by The TZ Newswire Staff Comments Off on U.S. home builder sentiment slips in May: NAHB
U.S. home builder sentiment slips in May: NAHB
U.S. homebuilder sentiment fell in May but still showed more builders view market conditions as favorable, the National Association of Home Builders said on Monday. The NAHB/Wells Fargo Housing Market index fell to 54 from 56 the month before, the group said in a statement. Readings above 50 indicate more builders view market conditions as favorable than poor. “Consumers are exhibiting caution, and want to be on more stable financial footing before purchasing a home,” NAHB Chief Economist David Crowe said in a statement.