Tuesday, March 25, 2014

Today's Headlines

  • Ukraine Seeks to Wrap Up IMF Talks as Crisis Hits Economy. Ukraine is completing bailout talks with the International Monetary Fund to avert a default and curb damage to the economy from a four-month political crisis. Loan negotiations began three weeks ago. To speed up the process, Ukrainian Premier Arseniy Yatsenyuk canceled a trip to The Hague, where world leaders are discussing the standoff with Russia over his country. The IMF will announce the results of its mission tomorrow, with Ukraine seeking as much as $20 billion, Finance Minister Oleksandr Shlapak said today in Kiev. 
  • China Faces ‘Mini Crisis’ on Debt Defaults, Ex-PBOC Adviser Says. China is headed for a “mini crisis” in its local-government debt market as economic reforms lead to the first defaults, according to a former adviser to the People’s Bank of China. “It will be a partial, controllable and mini crisis,” Li Daokui told reporters on the sideline of the Credit Suisse Asian Investment Conference in Hong Kong today.
  • German Confidence Falls. German business confidence fell for the first time in five months as companies assess the risks to trade from escalating European Union sanctions against Russia. The Ifo institute’s business climate index, based on a survey of 7,000 executives, fell to 110.7 in March after reaching 111.3 the prior month, the highest level since July 2011. Economists predicted a decline to 110.9, according to the median of 44 estimates in a Bloomberg News survey. 
  • European Stocks Rebound Before U.S. Consumer, House Data. European stocks rose the most in three weeks as better-than-forecast U.S. consumer-confidence and housing data signaled the world’s largest economy has rebounded from the harsh winter. EasyJet Plc gained 3.7 percent after forecasting that its loss may narrow in the six months through March. Luxottica Group SpA advanced 4 percent after saying it will design spectacles that use Google Inc.’s Glass technology. Baloise Holding AG (BALN) climbed 2.9 percent after the Swiss insurer unexpectedly increased its dividend. The Stoxx Europe 600 Index added 1.3 percent to 328.57 at the close in London after yesterday falling the most in two weeks.
Fox News:
Business Insider:
PxFeed Top News:
  • BREAKING NEWS: Russia adds 10,000 troops, air defense artillery, wheeled vehicles to positions near Ukraine eastern border. Via CNN.
  • Fed's Plosser wants interest rates at 3 pct by end-2015. Philadelphia Federal Reserve Bank President Charles Plosser believes the Fed should aim to raise short-term rates to 3 percent by the end of 2015 and 4 percent by the end of 2016, a Philadelphia Fed spokeswoman said.

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