KHALIDJAAFAR.ORG RESOURCE FOR BVI FUND FORMATION

International bonds attractive; Europe still a risk, Thornburg says

scgadmin — Wed, 22 Feb 2012 02:46:26 +0000

Even after some recent gains in stocks and stabilization in credit markets, especially in Europe, international corporate bonds still look attractive, said George Strickland, a portfolio manager at Thornburg Investment Management.Still, investors need to be cautious and recognize countries around the world may do things differently than in the U.S.In particular, overseas company debt has been attractive for Thornburg’s Strategic Income Fund TSIAX, which Strickland co-manages.The fund has about 26% of its assets outside the U.S.”Markets are going to trade based on credit, which has been improving since 2009,” he said Tuesday. Corporate default rates have stabilized around 2% to 2.5%, but the markets are priced for default rates closed to 8%.

Caixin Online: A billionaire’s take on the China theme

scgadmin — Wed, 22 Feb 2012 02:46:25 +0000

George Soros and other influential voices at the 2012 World Economic Forum found China at the center of financial discourse, reports Caixin Online.

Israel to establish sovereign wealth fund

scgadmin — Mon, 20 Feb 2012 02:10:31 +0000

Israel will soon establish a sovereign wealth fund with revenues from oil and natural gas, Prime Minister Benjamin Netanyahu’s office said Sunday. About half of state revenues from oil and natural gas will be put into the fund, which will be used as a “security cushion,” to pay costs during extraordinary events, like wars, natural disasters and economic crises, the prime minister’s office said.

Westpac first-quarter cash profit slips

scgadmin — Fri, 17 Feb 2012 01:03:50 +0000

– Westpac A$1.4 billion net profit down 5% from average of prior two quarters — Shares fall as much as 4.2% as result disappoints (Adds capital raising in final paragraph, CEO comments on European growth outlook in paragraph 3) Westpac Banking Corp. WBC.AU said Thursday that its first-quarter profit fell as movements in credit spreads drove down its markets income and revenue flatlined as customer concerns about the global economy subdued credit growth.

MarketWatch First Take: Apple CEO gives investors hope on cash

scgadmin — Wed, 15 Feb 2012 00:31:24 +0000

Apple CEO Tim Cook hedged on the cash question while speaking at a Goldman Sachs confab but investors might find some hope in his comments

Australia & New Zealand Bank to cut 1,000 jobs

scgadmin — Tue, 14 Feb 2012 00:22:07 +0000

–1,000 jobs to go by September –ANZ blames soft demand, funding costs, regulation –Move comes weeks after Westpac job cuts (Recasts lead paragraph; adds ANZ comment in 3rd paragraph; background throughout) Australia & New Zealand Banking Group Ltd. ANZ.AU said Monday it will cut about 1,000 jobs in its home country, as even the world’s strongest banks hunker down for tough times.

Australia & New Zealand Bank to cut 1,000 jobs

scgadmin — Tue, 14 Feb 2012 00:22:06 +0000

–1,000 jobs to go by September –ANZ blames soft demand, funding costs, regulation –Move comes weeks after Westpac job cuts (Adds Commonwealth Bank raising rates in 8th paragraph) SYDNEY -(MarketWatch)- Australia & New Zealand Banking Group Ltd. ANZ.AU said Monday it will cut about 1,000 jobs in its home country, as even the world’s strongest banks hunker down for tough times.

Energy Stocks: Chesapeake leads energy stock gains

scgadmin — Tue, 14 Feb 2012 00:22:06 +0000

Analysts are busy making energy-sector changes Monday, while Chesapeake posts solid gains at midday.

ANZ lifts interest rates amid higher funding costs

scgadmin — Fri, 10 Feb 2012 23:33:17 +0000

–ANZ lifts standard variable rate 6 percentage points to 7.36% –The move comes amid higher bank funding costs (Recasts lead paragraph; adds background throughout) SYDNEY -(MarketWatch)- Australian & New Zealand Banking Group Ltd. ANZ.AU risked a hostile public reaction Friday by increasing the cost of its home loans despite no move in the country’s official cash rate.

ANZ lifts interest rates amid higher funding costs

scgadmin — Fri, 10 Feb 2012 23:33:17 +0000

(“2nd UPDATE: ANZ Goes It Alone On Rates, Sparks Govt Outcry,” at 0519 GMT, misstated the measurement in 2nd paragraph, as did “UPDATE: ANZ Lifts Interest Rates Amid Higher Funding Costs”, at 0355 GMT. The correct version follows:)