WHAT TO WATCH: Mario Monti told Italy’s head of state he has lost lawmakers’ support and will resign, while Silvio Berlusconi announced plans to return to power. Greece is close to its debt buyback target, an official said. German October exports rose 0.3 percent. Industrial output in France (7.45 a.m.) and Italy (9 a.m.) probably fell, surveys show. Click here [...]
The United Arab Emirates and other Middle Eastern countries are seeking to diversify their fossil-fuel-based economies as a way to secure future jobs for the region’s burgeoning youth population. Click here to continue reading.
Several key presentations will be made at the American Society of Hematology (ASH) annual meeting in Atlanta, Georgia on Dec. 8-11. On Dec. 11, Celgene will present progression free survival (PFS) and overall survival (OS) data from the MM-003 study, a pivotal Phase III trial that tested pomalidomide in refractory resistant multiple myeloma. The drug [...]
Brokers would have to tell customers about recruiting bonuses and other compensation arrangements they earn when moving to a new firm, under a plan the Financial Industry Regulatory Authority voted yesterday to put out for comment, according to a person familiar with the meeting. Click here to continue reading this sample article from Financial Regulation.
The November employment report will require more interpretation than usual to account for both the impact of Hurricane Sandy and the changes in industry hiring trends that are behind the recent improvement in jobs gains. The hurricane affected an area responsible for about 16 percent of overall U.S. output. Click here to continue reading.
Nine months after the JPMorgan trader known as the London Whale amassed credit-derivatives bets that sparked $6 billion in losses for the bank, rivals from Bank of America to Morgan Stanley are recommending one of his main strategies. Morgan Stanley analysts included among their top 13 trades for 2013 a bet that the cost of credit [...]
Freeport-McMoRan Copper & Gold Inc., a global mining company, agreed Dec. 5 to buy two related oil and gas companies: Plains Exploration & Production Co. and McMoRan Exploration Co. The cash-and-stock Plains acquisition was valued at $10.2 billion at announcement, including debt, but that fell to about $9.5 billion yesterday after investors drove down Freeport’s shares [...]
Click here to view our exclusive presentation on the Fiscal Cliff.
The recent rise in the S&P 500 appears to have completed a bearish rising wedge on the 60 minute chart right at the confluence of major resistance levels on the daily chart. The 1420-1425 resistance zone should be watched closely for clues to the next important directional move. To continue reading please click here
Commentary by Joseph Brusuelas, Bloomberg Economist With the U.S. House of Representatives scheduled to adjourn until next year on Dec. 14, policy makers are now on a strict deadline to act in time to prevent a fiscal shock that may push a fragile economy into recession in the first quarter. The combination of spending cuts and tax increases scheduled to take [...]