Tuesday, March 05, 2013

Today's Headlines

Bloomberg:
  • Grillo Says Party to Vote Only for 5 Star Italian Government. Italy’s Five Star Movement will only provide voting support for a new government that it leads, said the populist group’s founder, Beppe Grillo. Five Star “won’t back a technocratic government” in a vote of confidence, Grillo said today in a post on his website, commenting on possible support for an administration of non- elected figures. “The only solution we propose is a government of the 5 Star,” Vito Crimi, the head of the party’s senators, said in the same post.
  • Euro-Area Services Output Contracts Less Than Estimated. Euro-area services output shrank less than initially estimated in February, adding to signs the currency bloc’s economy may be beginning to emerge from a recession. An index based on a survey of purchasing managers in the euro-area services industry fell to 47.9 from 48.6 in January, London-based Markit Economics said in a report today. That’s above an initial estimate of 47.3 published on Feb. 21. A reading below 50 indicates contraction. Euro-area retail sales rose the most in three years in January, separate data showed.
  • Qualcomm(QCOM) Boosts Dividend by 40%, Sets $5 Billion Buyback. Qualcomm Inc. boosted its dividend by 40 percent and set up a $5 billion share buyback plan, rewarding investors after rising demand for smartphones that run on its technology spurred sales growth. The quarterly cash dividend will increase to 35 cents from 25 cents, Qualcomm, the largest seller of semiconductors for mobile phones, said in a statement today. The new share repurchase plan replaces an older $4 billion plan that had $2.5 billion remaining.
MarketWatch:
CNBC:
Zero Hedge:
Business Insider: 
iMore:
Reuters:
  • Italy February Services PMI 43.6, MNI Says. France February Services PMI 43.7, MNI Says. Euro-Area February Composite PMI 47.9, MNI Says.

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