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NEW YORK: US Treasuries prices rose on Thursday after data on housing, jobs, prices and manufacturing raised questions about the US economy's strength and made it look more likely that the Federal Reserve would keep monetary policy accommodative.The government said the number of Americans filing new claims for unemployment insurance benefits last week jumped 32,000 to a seasonally adjusted 360,000, the biggest rise since November.Meanwhile, factory activity in the US mid-Atlantic region contracted in May, the Philadelphia Fed said. New orders fell to the lowest level in almost a year.Half an hour before Dallas Fed President Richard Fisher said the Fed could "rightly declare victory on the housing front" and should aim to eliminate its purchases of Treasuries and mortgage-backed securities "entirely as the year wears on," the Commerce Department reported that US housing starts fell 16.5 percent in April.The Fed is buying $85 billion in Treasuries and mortgage-backed securities ...
LONDON: British airline Virgin Atlantic said tough economic conditions over the last year dragged it to a record annual loss.The airline, founded by British billionaire Richard Branson, on Thursday reported a loss of 93 million pounds ($141.60 million) for the year to the end of February, worse than the 80 million loss it reported a year earlier.Its group pretax loss was 69.9 million pounds after a one-off positive 35.4 million pounds exceptional item and 23.1 ...
MUMBAI/BANGALORE: A breach of security at two payment card processing companies in India that led to heists at cash machines around the world has reopened questions on the risks of outsourcing sensitive financial services to the Asian nation.Global banks that ship work to be processed in India, either in-house or to big IT services vendors, were already under pressure to step up oversight of back-office functions after a series of scandals last year.Last week, US ...
LONDON: British government bonds drifted lower on Wednesday after the Bank of England struck a rare upbeat note on the economy, although the bank's caution about the economy's underlying strength capped gilts' losses.For the first time in years, the central bank predicted that Britain's economic growth would be faster and inflation lower than it expected three months earlier. However, BoE Governor Mervyn King said the better forecasts did not mean the recovery was secure.The bank ...
NEW YORK: US Treasury debt prices edged higher on Wednesday after a week of losses as manufacturing data pointed to lingering weakness in the economy and price pressures remained subdued, but a continued rally in riskier assets kept gains modest.US industrial production fell more than expected in April, down 0.5 percent. Regional data suggested more contraction could be coming, too, with the New York Fed's "Empire State" general business conditions index down to minus 1.43 ...
PARIS: French telecom and Internet company Iliad's sales soared by nearly 40 percent in the first quarter, the company said Wednesday, boosted by the success of its mobile operator Free.The company said sales hit 907 million euros ($1.17 bn) in the first quarter, with nearly a third (294.5 million) from mobile services launched in January 2012.The entry of Free with low cost offers has shaken up the French mobile market, hitting sales of competitors Orange/France ...
LONDON: HSBC said it does not expect Britain to change its bank levy policy before the next general election due in 2015 and said it is likely to pay about $800 million on the tax this year.HSBC has said the levy unfairly hits banks with big overseas operations. Half its payment last year was on non-UK banking activity."We have had all the conversations we could possibly have with all the people we could have them ...More Articles...
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