India Opens Door for Apple Retail With New Foreign Investment Rules - Fortune: "Under new investment rules, foreign retailers exempt from 30% local sourcing for three years.
Apple could open its first stores in India and might eventually start manufacturing in the country under new foreign investment rules for retailers outlined Monday.
The new rules exempt foreign retailers for three years from a requirement to source 30% of the goods sold in company-owned stores locally."
'via Blog this'
Monday, June 20, 2016
Friday, June 10, 2016
76 million Americans are struggling financially or just getting by - Jun. 10, 2016
76 million Americans are struggling financially or just getting by - Jun. 10, 2016: "The Fed survey highlights many of Americans' continuing economic worries. Some 46% of adults say they can't cover an unexpected $400 expense or would have borrow or sell something to do so."
'via Blog this'
'via Blog this'
Friday, June 3, 2016
Employers in U.S. Add 38,000 Workers, Fewest in Almost Six Years - Bloomberg
Employers in U.S. Add 38,000 Workers, Fewest in Almost Six Years - Bloomberg: "Employers in May added the fewest number of workers in almost six years, reflecting broad cutbacks that may raise concern about U.S. growth and prompt Federal Reserve policy makers to put off an increase in interest rates.
The addition of 38,000 workers, the fewest since September 2010, followed a 123,000 advance in April that was smaller than previously estimated, a Labor Department report showed Friday. The increase in May was less than the most pessimistic forecast in a Bloomberg survey. "
'via Blog this'
The addition of 38,000 workers, the fewest since September 2010, followed a 123,000 advance in April that was smaller than previously estimated, a Labor Department report showed Friday. The increase in May was less than the most pessimistic forecast in a Bloomberg survey. "
'via Blog this'
US borrowers are paying more and for longer on their auto loans
US borrowers are paying more and for longer on their auto loans: "Average auto loan: $30,032 — the first time the amount borrowed to buy a new vehicle has topped $30,000.
New car, new reality: Auto loan borrowing hits fresh highs
Average monthly payment: $503 — the first time the average auto payment has gone over the $500 mark.
Average term for an auto loan: 68 months — this is the longest average term ever seen by Experian."
'via Blog this'
New car, new reality: Auto loan borrowing hits fresh highs
Average monthly payment: $503 — the first time the average auto payment has gone over the $500 mark.
Average term for an auto loan: 68 months — this is the longest average term ever seen by Experian."
'via Blog this'
Jamie Dimon just sounded the alarm on auto loans
Jamie Dimon just sounded the alarm on auto loans: "In May, the total amount of auto loans cracked the $1 trillion mark for the first time, marking a 10 percent increase. It comes as auto sales have hovered around record highs.
At more than $30,000, the average auto loan for a new car is also at an all-time high, according to Experian. Also, at more than $500, the average monthly auto loan payment is at a record."
'via Blog this'
At more than $30,000, the average auto loan for a new car is also at an all-time high, according to Experian. Also, at more than $500, the average monthly auto loan payment is at a record."
'via Blog this'
Thursday, June 2, 2016
ECB Leaves Interest Rates Unchanged, Will Start Corporate Bond Purchases On June 8 | Zero Hedge
ECB Leaves Interest Rates Unchanged, Will Start Corporate Bond Purchases On June 8 | Zero Hedge: "The ECB also said that on 8 June the Eurosystem will start making purchases under its corporate sector purchase programme (CSPP)."
'via Blog this'
'via Blog this'
ISM New York Collapses To 7-Year Lows | Zero Hedge
ISM New York Collapses To 7-Year Lows | Zero Hedge: "ISM New York's purchasing managers survey collapsed in May from 57.00 to 37.2 - the lowest since April 2009. The bloodbath is the biggest monthly drop since May 2007. While 'hope' rose rather stunningly from 56.0 to 68.0 - the highest in years, current employment and 'quantity of purchases' both plunged to cycle lows.
"
'via Blog this'
"
'via Blog this'
Bill Gross Explains Why He Is Now Shorting Credit | Zero Hedge
Bill Gross Explains Why He Is Now Shorting Credit | Zero Hedge: "Gross' conclusion:
The “fact of the matter” – to use a politician’s phrase – is that “carry” in any form appears to be very low relative to risk. The same thing goes with stocks and real estate or any asset that has a P/E, cap rate, or is tied to present value by the discounting of future cash flows. To occupy the investment market’s future “penthouse”, today’s portfolio managers – as well as their clients, must begin to look in another direction. Returns will be low, risk will be high and at some point the “Intelligent Investor” must decide that we are in a new era with conditions that demand a different approach. Negative durations? Voiding or shorting corporate credit? Buying instead of selling volatility? Staying liquid with large amounts of cash? These are all potential “negative” carry positions that at some point may capture capital gains or at a minimum preserve principal.
But because an investor must eat something as the appropriate reversal approaches, the current penthouse room service menu of positive carry alternatives must still be carefully scrutinized to avoid starvation. That means accepting some positive carry assets with the least amount of risk. Sometime soon though, as inappropriate monetary policies and structural headwinds take their toll, those delicious “carry rich and greasy” French fries will turn cold and rather quickly get tossed into the garbage can. Bon Appetit!"
'via Blog this'
The “fact of the matter” – to use a politician’s phrase – is that “carry” in any form appears to be very low relative to risk. The same thing goes with stocks and real estate or any asset that has a P/E, cap rate, or is tied to present value by the discounting of future cash flows. To occupy the investment market’s future “penthouse”, today’s portfolio managers – as well as their clients, must begin to look in another direction. Returns will be low, risk will be high and at some point the “Intelligent Investor” must decide that we are in a new era with conditions that demand a different approach. Negative durations? Voiding or shorting corporate credit? Buying instead of selling volatility? Staying liquid with large amounts of cash? These are all potential “negative” carry positions that at some point may capture capital gains or at a minimum preserve principal.
But because an investor must eat something as the appropriate reversal approaches, the current penthouse room service menu of positive carry alternatives must still be carefully scrutinized to avoid starvation. That means accepting some positive carry assets with the least amount of risk. Sometime soon though, as inappropriate monetary policies and structural headwinds take their toll, those delicious “carry rich and greasy” French fries will turn cold and rather quickly get tossed into the garbage can. Bon Appetit!"
'via Blog this'
Mario Draghi Explains Why 'Buying Corporate Bonds As Well' Will Work This Time - ECB Press Conference Live Feed | Zero Hedge
Mario Draghi Explains Why 'Buying Corporate Bonds As Well' Will Work This Time - ECB Press Conference Live Feed | Zero Hedge: "With rates left unchanged - deep in NIRP-land - amid an increasingly fragile banking system (see Italian bank stocks), we expect ECB chief Mario Draghi to reassure an anxious public how well QE is working (despite weak growth and tumbling PMIs), how great negative rates are for stimulating 'something' despite inflation's drift lower, and how his about-to-be-launched corporate bond buying bonanza will really solve the problems of the world (by enabling firms to lever up even more and buyback more stock?).
"
'via Blog this'
"
'via Blog this'
Private companies (Waiters, Bartenders and Clerks) added 173K jobs in May vs.175K estimate
Private companies added 173K jobs in May vs.175K estimate: ADP: "Moreover, the gains came entirely from the service sector, which added 175,000 positions. Goods-producing companies actually lost 1,000 jobs (ADP rounds its figures, creating a discrepancy from the final number). Manufacturing subtracted 3,000 jobs."
'via Blog this'
'via Blog this'
House flipping heats up, creating 'home price pressure cooker'
House flipping heats up, creating 'home price pressure cooker': "It's like birthing a baby. ... If you're overpriced, you're dead in the water."
-Dana Rice, real estate agent and home flipper"
'via Blog this'
-Dana Rice, real estate agent and home flipper"
'via Blog this'
OPEC showdown: Oil ministers meet, at odds over strategy - Saudi Arabia and Iran - Pro and Anti USA agendas
OPEC showdown: Oil ministers meet, at odds over strategy: "OPEC is not expected to cut or freeze oil production levels at the meeting – ideas that failed to find unanimous support at its last meeting in Doha in April. Hopes of a deal were dashed after Iran – an OPEC member that is trying to revive its oil industry after years of economic sanctions – refused outright to consider a freeze.
Abdalla Salem el-Badri, Secretary General of OPEC told CNBC as the meeting got underway on Thursday that for the first time in many months there was a "very positive" atmosphere among the cartel's members, however.
He said he was pleased with the way the oil market was recovering - now close to $50 per barrel.
Meanwhile Saudi Arabia's energy minister Khalid al-Falih told Reuters the country was concerned over low oil prices, but that the market was doing well. "We will not shock the market," he said, adding that the market was rebalancing.
The meeting comes amid tensions between OPEC members nevertheless.
Iran's brake on a Doha deal angered OPEC's de facto leader Saudi Arabia and further damaged relations between the Middle Eastern rivals but there was talk this week that Saudi Arabia could be trying to revive formal output targets, with Iran's oil minister rejecting the idea yet again. "An output ceiling has no benefit to us," Bijan Zanganeh told reporters in Vienna on Wednesday, reiterating Iran's call for individual country quotas."
'via Blog this'
Abdalla Salem el-Badri, Secretary General of OPEC told CNBC as the meeting got underway on Thursday that for the first time in many months there was a "very positive" atmosphere among the cartel's members, however.
He said he was pleased with the way the oil market was recovering - now close to $50 per barrel.
Meanwhile Saudi Arabia's energy minister Khalid al-Falih told Reuters the country was concerned over low oil prices, but that the market was doing well. "We will not shock the market," he said, adding that the market was rebalancing.
The meeting comes amid tensions between OPEC members nevertheless.
Iran's brake on a Doha deal angered OPEC's de facto leader Saudi Arabia and further damaged relations between the Middle Eastern rivals but there was talk this week that Saudi Arabia could be trying to revive formal output targets, with Iran's oil minister rejecting the idea yet again. "An output ceiling has no benefit to us," Bijan Zanganeh told reporters in Vienna on Wednesday, reiterating Iran's call for individual country quotas."
OPEC showdown
Once bitten, twice shy
‹
›
Wednesday, June 1, 2016
May US auto sales seen down on 2 fewer selling days than year ago
May US auto sales seen down on 2 fewer selling days than year ago: "
Getty Images
The U.S. auto industry looks set to remain on course for another record year in 2016, even if new vehicle sales in May reported later on Wednesday come in worse than expected, analysts and economists said.
General Motors plunged 18 percent in the month. Sales were seen dropping 13.1 percent by Edmunds and 8 percent by TrueCar.
Ford Motor said sales fell 5.9 percent. The automaker's May sales were seen down 3 percent by Edmunds and 5 percent by TrueCar. F-series truck sales were up 9 percent in the month."
'via Blog this'
Getty Images
The U.S. auto industry looks set to remain on course for another record year in 2016, even if new vehicle sales in May reported later on Wednesday come in worse than expected, analysts and economists said.
General Motors plunged 18 percent in the month. Sales were seen dropping 13.1 percent by Edmunds and 8 percent by TrueCar.
Ford Motor said sales fell 5.9 percent. The automaker's May sales were seen down 3 percent by Edmunds and 5 percent by TrueCar. F-series truck sales were up 9 percent in the month."
'via Blog this'
Subscribe to:
Posts (Atom)