The U.S. has been a net importer of energy since 1953, but that's set to change early next decade, according to the Energy Information Administration (EIA). In its highly anticipated Annual Energy Outlook 2018, the agency forecasts that the U.S. will become a net exporter of energy by as early as 2022, thanks in large part to the boom in shale oil and liquefied natural gas (LNG) production as we...Read More
Feb 14 (Reuters) - For other diaries, please see:Top Economic Events Polling Unit Diary Today in Washington Political and General News DATECOUNTRY AUCTION DETAILS14-FebGermany Auction of 30-year Federal bonds14-FebJapan Auction of 5-year government bonds15-FebJapan 3-month discount bill auction15-FebSpain Bond auction15-FebSwedenAuction of inflation-linked government bonds15-FebUnited KingdomAucti...Read More
Feb 14 (Reuters) - For other diaries, please see:Top Economic Events Government Debt Auctions Political and General News Events Index of All Diaries Guide to Economic Indicators -----------------------------------------------------------This Diary is filed daily** Indicates new events ----------------------------------------------------------- WEDNESDAY, FEBRUARY 14JAKARTA - Indonesia Central Bank...Read More
(Kitco News) - Markets are very much preoccupied with volatility in the equity space at the moment and many investors are overlooking serious geopolitical risks, which could push gold prices up, according to Saxo Bank.“The market is so focused on NASDAQ volatility that a lot of geopolitical risk is being ignored,” chief economist at Saxo Bank Steen Jakobsen said in a note published on...Read More
WELLINGTON, Feb 14 (Reuters) - Fletcher Building Ltd Chief Executive Ross Taylor said on Wednesday that the company's flagged breach of its finance covenants was not related to missing payments. Fletcher said it expected its embattled commercial building unit to post a NZ$660 million ($480.2 million) loss, breaching its financial covenants. "It's an accounting provision and because our covena...Read More
Feb 14 (Reuters) -For other diaries, please see:U.S. Federal Reserve Polling Unit Diary Today in Washington Political and General News ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events ----------------------------------------------------------- WEDNESDAY, FEBRUARY 14 ** BRATISLAVA - Peter Kazimir, the finance minister of Slovakia, update...Read More
SINGAPORE, Feb 14 (Reuters) - Singapore's fourth quarter economic growth was revised lower on a quarter-on-quarter basis on Wednesday, due to a contraction in the manufacturing sector which has come under pressure recently. The economy grew 2.1 percent in the fourth quarter from the previous three months on an annualised and seasonally adjusted basis, revised final figures from the Ministry of Tra...Read More
(Repeats to attach to additional alert)TOKYO, Feb 14 (Reuters) - Japan's economy grew at an annualised rate of 0.5 percent in October-December, posting the eighth straight quarter of expansion due to growth in consumer spending and capital expenditure.That marked the longest streak of growth since a 12-quarter stretch between April-June 1986 and January-March 1989 around the height of Japan's eco...Read More
TOKYO, Feb 14 (Reuters) - Japan's economy grew at an annualised rate of 0.5 percent in October-December, posting the eighth straight quarter of expansion due to growth in consumer spending and capital expenditure.That marked the longest streak of growth since a 12-quarter stretch between April-June 1986 and January-March 1989 around the height of Japan's economic bubble.The preliminary reading for...Read More
Dollar weakness continues to accelerate, with the dollar index breaking below 90 today. As of 4:00 PM Eastern standard time, the U.S. dollar index is trading off by 51 points and is currently fixed at 89.58. This marks the second consecutive day of lower pricing.The dollar has been in a defined, slow, and methodical decline since November of last year when the dollar index was trading at roughly 9...Read More
(Adds Cboe statement, comments from market participants, details throughout, bylines)By Saqib Iqbal Ahmed and John McCrankNEW YORK, Feb 13 (Reuters) - Wall Street's most widely followed gauge of future stock market volatility is being manipulated, a law firm representing an "anonymous whistleblower" alleged in a letter to U.S. regulators seen by Reuters on Tuesday.The accusations prompt...Read More
* Woodside to pay ExxonMobil $744 mln for Scarborough stake* Raising to also help fund projects in Australia, Senegal* Share offering at 13 pct discount to last trade (Adds Woodside comments)MELBOURNE, Feb 14 (Reuters) - Woodside Petroleum said on Wednesday it would raise A$2.5 billion ($1.96 billion) from shareholders to fund the purchase of ExxonMobil Corp's stake in the Scarborough gas field an...Read More
(Adds background)By Steve HollandWASHINGTON, Feb 13 (Reuters) - The White House has spoken with Loretta Mester, the president of the Federal Reserve Bank of Cleveland, about the vice chair opening at the Federal Reserve Board, a person familiar with the process said on Tuesday.The source said the team considering nominees for the opening was impressed with Mester, but said there was no front-runn...Read More
No one believed Porter Stansberry nine years ago.As head of one of America's largest independent financial research firms, Mr. Stansberry's work back in 2008 led him to a bold, but worrisome, conclusion:That the world's largest mortgage bankers- Fannie Mae and Freddie Mac, which at the time were responsible for nearly 50% of all the mortgages in America-would soon go bankrupt.In fact, in June of 2...Read More
(Adds details, updates to the close)Feb 13 (Reuters) - Canada's main stock index fell modestly on Tuesday, pausing after racking up a hefty gain in the previous session, as industrial and energy shares fell along with the price of oil. * The Toronto Stock Exchange's S&P/TSX composite index ended down 25.41 points, or 0.17 percent, at 15,216.47.* On Monday, the index posted its biggest one-day...Read More
* Fletcher expects losses of NZ$600 million in building business* Chairman to step down* Shares fall more than 13 pct after trading halt lifts (Adds share market reaction)Feb 14 (Reuters) - New Zealand's biggest construction company Fletcher Building said on Wednesday that it expected its embattled commercial building unit to post a NZ$660 million ($480.22 million) loss in fiscal 2018, causing its...Read More
WASHINGTON, Feb 13 (Reuters) - The White House has spoken with Loretta Mester, the president of the Federal Reserve Bank of Cleveland, about the vice chair opening at the Federal Reserve Board, a person familiar with the process said on Tuesday.The source said the team considering nominees for the opening was impressed with Mester, but said there was no front-runner for the position at this point,...Read More
FRANKFURT, Feb 13 (Reuters) - Shares in German residential property developer Instone Real Estate Group BV were priced at 21.50 euros apiece on Tuesday, at the bottom of an indicative price range of 21.50 to 25.50 euros for its initial share offering as market turbulence spooked investors.Instone's shares were due to start trading in Frankfurt on Thursday after the second market listing in Germany...Read More
Feb 14 (Reuters) - Australian shares are likely to edge higher on Wednesday helped by strong metal prices and tracking positive performance on Wall Street on Tuesday.Copper on the LME climbed 2.3 percent while zinc ended up 2.6 percent on Tuesday, while stocks on Wall Street ended the day up for a third straight session, buoyed by technology majors Amazon and Apple .The local share price index fut...Read More
(Adds background and stock price)By David IngramSAN FRANCISCO, Feb 13 (Reuters) - Twitter Inc Chief Executive Jack Dorsey said on Tuesday that he saw value in the social media network remaining an independent company, downplaying recent speculation by analysts that it could be an acquisition target. "I've always thought that there's a lot of strength to our independence. We can work on every...Read More