"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Saturday, February 4, 2012

Euro-Zone Data Give Differing Outlooks

Euro-Zone Data Give Differing Outlooks
Wall Street Journal
By ALEX BRITTAIN and PAUL HANNON Euro-zone private-sector activity returned to modest growth in January, but a fall in consumer spending in the run-up to Christmas added to doubts over the region's longer-term prospects. Markit Economics on Friday said ...

Euro zone sales tumble at Christmas, no sign of growth
Reuters
By Robin Emmott | BRUSSELS (Reuters) - Retail sales in the euro zone tumbled unexpectedly in December, the biggest drop in the Christmas period in three years, data showed on Friday, with rising joblessness and stubborn inflation undercut signs of a ...

ECB tonic buys time for eurozone
Financial Times
By David Oakley and Richard Milne Fears of a eurozone break-up, which dogged markets in December, have receded as peripheral government bonds – with the notable exception of Portugal – have seen one of the biggest rallies since the sovereign debt ...

Financial Times

Stock surge: Dow at highest mark since pre-financial crisis
USA TODAY
The Dow Jones industrial average jumped more than 140 points, drawing the average to its highest mark since before the financial crisis hit in 2008. By Richard Drew, AP Trader Luigi Muccitelli works on the floor of the New York Stock Exchange on Feb.

USA TODAY

New Greek package may need up to 145 bln from euro zone -sources
Reuters
By Jan Strupczewski BRUSSELS Feb 3 (Reuters) - Euro zone governments may have to provide up to 145 billion euros to Athens under a second emergency loan programme for Greece, EU sources said on Friday, 15 billion euros more than previously expected.

Euro Crisis Shows Signs of Easing, Far from Over
CRIENGLISH.com
The eurozone debt crisis is showing signs of easing now that the European Central Bank has injected cheap money into the economy and the European Union has agreed on a new fiscal accord. As borrowing costs for eurozone countries declined, ...

Euro zone crisis: China set to play it safe on helping Europe
Economic Times
Wen told a joint press conference with visiting German Chancellor Angela Merkel that China was "considering increasing its participation in the solution of the European debt crisis through the channels of the EFSF and ESM", referring to the euro zone's ...

Feds hasten financial crisis probes amid election year
Reuters
Given two of the traders' plea agreements, this may be the first successful criminal indictment stemming from the financial crisis. But the case also may foreshadow the fact that federal investigations are likely to focus far more heavily on actions ...

Hungary's Malev Folds as Euro Crisis Claims Second Carrier
San Francisco Chronicle
(Updates with Ryanair, Wizz, EasyJet, Air Berlin plans to target Malev's former market starting in ninth paragraph.) Feb. 3 (Bloomberg) -- Malev Zrt., the state-owned Hungarian airline founded in 1946, ceased flying after the government withdrew ...

Financial crisis forced wife to go abroad, say police
Times of India
Radha Alkar (28) went to Singapore six months ago due to financial crisis at home. Radha's husband Santosh (38), who was a diabetic patient, use to take care of the kids at home and also their studies. Alkars' relatives said Radha was completely ...

Italy's Monti: Euro-Zone Bonds May Have Important Role
Wall Street Journal
ROME (Dow Jones)--Italian prime minister Mario Monti said Friday he is among the European leaders who believe that euro-zone bonds may have an important role in strengthening the euro, while other countries like Germany still think they can be harmful.

Eurozone crisis live: Recession fears ease after services data
The Guardian
10.10am: We never go very long without something important happening in Greece, the ground zero of the eurozone crisis, and Helena Smith in Athens has news of a development there today. It now seems that the long-awaited meeting between prime minister ...

The Guardian

Euro zone sales tumble at Christmas as households suffer
Reuters
Sales down 0.4 pct in Dec vs Nov, down 1.6 pct annually * Economists had expected 0.3 pct monthly rise in Dec BRUSSELS Feb 3 (Reuters) - Retail sales in the euro zone tumbled unexpectedly in December, the biggest drop in the Christmas period in three ...

Morning business round-up: Eurozone services expand
BBC News
Here's our daily business round-up: The Markit eurozone services purchasing managers' index (PMI) was 50.4 in January, up from 48.8 in December. Any score under 50 represents a contraction. It follows a manufacturing survey of 48.8, up from 46.9 in ...

Morning Briefing: Euro Zone Mood to Drive Regional Trade
Wall Street Journal (blog)
By Sean Carney Market sentiment in Central Europe Friday will be driven by the mood and news flow from the euro zone. In Prague, little surprise is expected in a fresh reading of Czech retail sales. Analysts expect sales to post near stagnant annual ...

Eurozone service sector stabilises in January as growth in France and Germany ...
FinFacts Ireland
By Finfacts Team Business activity in the Eurozone service sector stabilised in January, with a marginal expansion ending a four-month period of contraction. Underlying conditions in the sector nonetheless remained lacklustre overall, as inflows of new ...

FinFacts Ireland

Thrifty Consumers Could Scupper Euro-Zone Recovery
Wall Street Journal (blog)
By Alex Brittain The euro-zone economy may have stabilized in January, but spendthrift consumers could well hamper any long-lasting recovery. The composite purchasing managers' index Friday showed business activity edging up at the start of 2012, ...

Security amid financial crisis in focus at Munich conference
Philippine Star
MUNICH, Germany (Xinhua) - More than 10 heads of state and 40 defense ministers from around the world gathered here to discuss new security threats in the face of shrinking economic resources at the 48th Munich Security Conference.

IMF Deputy Says Japan Can Learn From Euro Crisis
Wall Street Journal
WSJ's Aaron Back has details of a possible increased role by Beijing in purchase Eurozone bonds as part of the region's bailout fund. Photo: STEFFEN KUGLER/AFP/Getty Images Japan's public debt is the highest in the developed world at around 200% of ...

Euro zone inflationary pressures recede further: ECRI
Economic Times
BANGALORE: Inflationary pressures in the euro zone slipped further in December, according to an indicator from the Economic Cycle Research Institute (ECRI), designed to predict inflation trends, on Friday. The Eurozone Future Inflation Gauge (EZFIG) ...

Euro zone troubles dominate interest rate forecasts
Troy Media (blog)
Europe is in the early stages of a recession and the risk of a financial crisis is still uncomfortably high, though recent measures have reduced this risk. Expanded liquidity provisions by the European Central Bank (ECB) and the co-ordinated ...

Eurozone retail sales in surprise December fall
CBS News
The December figures may well reinforce expectations that the eurozone contracted during the fourth quarter of the year. Eurostat is due to publish its first estimate for the quarter of Feb. 15. However, some of the gloom may be dissipated by the news ...

Dow hits highest level since financial crisis
Los Angeles Times
By Nathaniel Popper The Dow Jones industrial average surged Friday morning, taking it past highs reached last year and up to the highest level since May 2008, before Lehman Brothers went bankrupt and the economy went into the toilet.

Los Angeles Times

Mayor of Providence Seeks Urgent Steps in City's Financial Crisis
New York Times
The mayor of Providence, RI, on Thursday laid out a series of steps he said were crucial to shoring up the city's finances. He warned that it would otherwise run out of money in June. Mayor Angel Taveras, a Democrat, outlined plans to reduce pensions ...

Fed to Work Towards Reducing Impact of Eurozone Crisis on US Economy
Arirang News
Speaking before the House Budget Committee on Thursday, US Federal Reserve Chairman Ben Bernanke said despite some positive developments in the eurozone the United States remains vulnerable to shocks from the troubled region. Federal Reserve Bank] "We ...

Moscow concerned over rising US, eurozone debts: Putin
People's Daily Online
2 (Xinhua) -- Russia was concerned about rising debts in the US and eurozone, and the problems they created for other major economies, Russian Prime Minister Vladimir Putin said Thursday. Addressing the Russia Forum 2012, Putin said eurozone countries' ...

Euro zone break up remains major threat to UK
Choices (blog)
By stacey Published: February 3, 2012 Posted in: NewsTags: Risks to the UK economy from a euro zone break up continue to loom large, according to the latest forecast from the Institute for Fiscal Studies. On the positive side, its Green Budget suggests ...

Regulation may provoke a second financial crisis
Sydney Morning Herald
Former Federal Reserve Chairman Paul Volcker participates in a House Financial Services Committee hearing on in Washington, DC. Photo: Getty Images OFF The Wall was wondering at what point I should slip in that this week's topic is about US regulation.

Sydney Morning Herald

Who to blame for the Great Recession? So many big names are in the frame
The Guardian
Every financial crisis has its totemic moment; a decision that even at the time seems to defy logic and in retrospect is seen as an act of gross stupidity. Yet it takes more than one individual banker, no matter how powerful, to make a crisis and when ...

The Guardian

The Turkish economy after the global financial crisis
By Dani Rodrik
This paper of mine on the Turkish economy was completed more than a year ago but has just been published in the new journal of the Turkish Economic Association. Re-reading it, I feel it captures well the missed opportunities of...
Dani Rodrik's weblog

XE.com - RPT-UPDATE 1-Euro zone sales tumble at Christmas, no ...
Retail sales in the euro zone tumbled unexpectedly in December, the biggest drop in the Christmas period in three years, data showed on Friday, with rising joblessness and stubborn inflation undercutting signs of a stabilisation in Europe's ...
XE Forex News

Early Warning: Eurozone Retail Trade Down Again in Dec
By Stuart Staniford
Can this decoupling continue if the situation in the PIIGS countries worsens further, as it seems it must? I guess my assumption at this point is that main transmission mechanism would have to be via financial institution failure - if the ECB can ...
Early Warning

Eurozone private sector rebounds: PMI survey - Expatica
Eurozone private sector activity bounced back in January after four months of contraction, a key survey showed Friday, with notable increases in the tw...
Expatica - French Local Headlines

Markit Eurozone Services PMI – final data @ Forex Factory
By From markiteconomics.com
Markit Eurozone Services PMI – final data - Business activity in the Eurozone service sector stabilised in January, with a marginal expansion ending a four-month period of contraction. Underlying conditions in the sector nonetheless remained.
Forex Factory

Europe clings to former economic might as Eurozone's crisis deepens
By Andrew Lutfala
Over the course of the last four centuries, Europe had established itself as one of the greatest economic spheres of influence and power throughout the world. However, as the Eurozone faces economic collapse and possible dissolution in the ...
The Trail

Eurozone retail sales in surprise December fall | Washington Examiner
By The Associated Press
Retail sales in the 17 countries that use the euro unexpectedly fell during the crucial month of December, official figures showed Friday, raising fears of a looming recession in the single currency bloc. Eurostat, the EU's statistics office, said ...
Examiner World RSS

Euro-Zone Private Sector Grows
published about 4 hours ago. Euro-zone private sector activity returned to modest growth in January, reinforcing hopes the currency bloc may rebound in the first quarter after a likely slump in the last three months of 2011. WSJ.com: What's ...
NewsOnFeeds.com Asia News

Excuses, excuses, excuses: The Eurozone crisis, weakness in the ...
By Alex Hern
Alex Hern rebuts the FTs claim that the low growth the UK is experiencing is due to matters outside Osborne's control.
Left Foot Forward

Fear of Global Contagion Dominates
By Drover
As the people who run much of the planet wrapped up the annual festival of influence known as the World Economic Forum on Saturday, any sense of achievement was hard to discern.
The Daily Sheeple

Euro zone private sector ends decline, jumps to 5-month high ...
The private sector in the euro zone ended a four-month decline in January and recorded growth, suggesting it may yet avoid a recession. Data published by Markit showed the services sector in the common currency area rose above 50 to a ...
RTFX - News Feed

Euro zone sales tumble at Christmas, no sign of growth – Reuters
By nyse - Google News
BloombergEuro zone sales tumble at Christmas, no sign of growthReutersEU leaders at a summit on Monday promised to free funds to promote jobs and try to revive the euro zone economy, a shift in their mantra that spending cuts are the ...
Daily Financial News

Exodus from the Eurozone Debt Crisis | ZeroHedge
Wolf Richter www.testosteronepit.comUnemployment is a staggering problem in those Eurozonecountries that are at the core of the debt crisis. Spain's jobless ...
www.zerohedge.com/contributed/exodus-eurozone-debt-crisis

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