By Youri Carma: HEADLINES FEBRUARY 2014WORLD
- World Bank Sees Volatile Shift to Higher Global Interest Rates
- IMF Warns G-20 of Deflation Risk, Emerging-Market Turmoil
- IMF Calls on Emerging Markets to Bolster Economic Fundamentals
- The Sell-Side Starts Its Mass GDP Downgrades
- Emerging-Market Outflows Top $11 Billion as Growth Slows
- India Growth Slows to 4.7%
- Copper Caps Longest Losing Streak Since 1998
OIL COMPANIES
- BP Fourth-Quarter Profit Drops as Disposals Hurt Oil Output
- Chevron profit drops 32% on lower production
- Exxon Mobil Net Income Declines as Quarterly Output Slips
- Shell Profit Drops 48% as Oil and Gas Production Declines
- Tuscany International Files Bankruptcy on Low Rig Use
CHINA
- China’s Corporate Debt Hits Record $12 Trillion
- China Sold Second-Largest Amount Ever Of US Treasurys In December
- China Manufacturing PMI Misses, Tumbles To 7-Month Low
- China Folds On Reforms – Bails Out 2nd Shadow-Banking Default
- China Banks’ Bad Loans Reach Highest Since Financial Crisis
- China Smartphone Shipments Post First Quarterly Drop Since 2011
- China Manufacturing Gauge Falls to Six-Month Low
- China Iron Ore Stockpiles Rise to Record As Construction Activity Remained Weak
AUSTRALIA
- Biggest Aussie Steelmaker Sees Dramatic Slowdown in China’s Construction Market
- Australia Q4 new capital expenditure falls vs. Q3
- Australian Unemployment Jumps to 10-Year High
- Australian Car Manufacturing Faces Extinction With Toyota Exit
- Australia home-building approvals fall in December
- Australia’s manufacturing contraction deepens
- Qantas posts steep loss, to cut 5,000 jobs
- Ford to Cut Third of Australia Plant Jobs as Demand Drops
JAPAN
- Japanese Trade Deficit Explodes To Record
- Japan GDP Biggest Miss In 18 Months
- Japan Machine Orders Crumble At Fastest Pace In 22 Years
RUSSIA
- Russian Incomes Unexpectedly Drop as Retail Sales Slow
- Russian new car sales down 6% in January
- Russian economic growth slowed in 2013 to 1.3%
CANADA
- Canadian Home Sales Fall in January for 5th Straight Month
- Canada Factory Sales Unexpectedly Fall in December
- Canada’s Trade Deficit Grows for Third Month in December
- Canada Building Permits Fall in December on Multi-Unit Housing
MEXICO
- Mexico January Surprise Trade Gap as Exports Dropped – Widest Since October 2008
- Mexico Industrial Production Unexpectedly Contracts in December
- Wal-Mart de Mexico Falls to Two-Year Low as Taxes Crimp Sales
BRAZIL
- Brazil Economists Cut 2014 Growth Forecast for Third Week
- Brazil January Budget Gap Was Wider Than All Analyst Estimates
- Brazil Economists Cut Growth Expectations for This Year and Next
- Brazilian Economy Contracted More Than Forecast In December
- Brazil December Industrial Output Drops Below Every Estimate
- Sony Forecasts $1.1 Billion Loss – Cuts 5,000 More Jobs
- Panasonic Eliminated 32,000 Jobs As Of September From A Year Earlier
- Newly Private Dell To Fire Over A 15,000 Employees
RATING AGENCIES
- Honduras’s Credit Rating Cut by Moody’s to B3 from B2
- S&P cuts Ukraine rating again, warns risk of default
- Croatian Outlook Cut to Negative by Fitch as Fiscal Outlook Dims
- S&P Outlook Portends Mounting Risk to Fund Flows: Turkey Credit
- Turkey Outlook Cut by S&P Citing ‘Hard Landing’ Risk
- Ukraine Credit Rating Cut by Fitch on Deteriorating Financing
- Puerto Rico Has Credit Rating Cut One Step to Junk by S&P
U.S.
- Revised Q4 GDP Tumbles 26% From Initial Estimate To 2.4%
- Jobless Claims in U.S. Climbed Last Week to One-Month High
- Bank Of America Warns “The US Dollar Is In Trouble”
- Real Disposable Income Plummets Most In 40 Years
- Unit Labor Costs Have Biggest Annual Drop Since 2010
- A Record 49% Of Treasury Trading Was Done Electronically In 2013
- Philly Fed Plunges To 1 Year Low; Misses By Most Since Aug 2011
- US Services PMI Slumps To Weakest In 4 Months
- Dallas Fed Misses; Dumps To 9-Month Low
- Factory Production in U.S. Falls by Most Since 2009
- ISM Has Biggest Miss On Record, New Orders Plunge Most Since 1980
- Goldman Cuts Its GDP Q1 Forecast To 2½% and Q2 To 3% From 2.7%, 3½% Previously
- Record S&P 500 Momentum Unwinding as China Quashes Euphoria
- S&P 500 Has Longest Weekly Drop Since 2012 as Fed Cuts QE
U.S. HOMES
- U.S. 30-Year Mortgage Rates Increase for a Third Week
- The “Institutional Investor” Housing Bubble Just Burst
- Foreclosures Surging in New York-New Jersey Market
- Mortgage Applications Plunge Most In 3 Months; Purchases Collapse To 19 Year Low
- Case Shiller Has Second Consecutive Monthly Decline, Home Price Momentum Fading
- Gains in Farmland Values Stall, Ending Five-Year Boom
- Rents Used to Pay Leased-Home Bonds Fall 7.6%, Morningstar Says
- Non-Existing Home Sales Miss Expectations, Plunge 14% From Highs
- Builders in U.S. Begin Work on Fewer Houses Than Forecast
- Mortgage Applications Plunge Further – Near 19 Year Lows
- U.S. 30-Year Mortgage Rates Increase for a Second Week
- U.S. Mortgage Applications Drop – Hover Near 19 Year Lows
U.S. COMPANIES
- U.S. Retail Chains See First Profit Decline Since Recession
- IBM Employee Headcount Declines for First Time in a Decade
- Wells Fargo Plans to Cut 700 Jobs as Mortgage Demand Fades
- IBM Employee Headcount Declines for First Time in a Decade
- “Slaughter House”: IBM Just Fired Thousands Of Workers Across India
- RBS to Cut 30,000 Investment Banking Jobs
- JPMorgan After Firing 15,000 To Fire Thousands More
- JPM Reports Market Revenue Plunges 15% From Year Earlier, Fixed Income Activity
- Retail Sales Slide Across The Board, Post Biggest Miss Since June 2012
- 3th Bank Failure For 2014
- Barclays Fires 12,000; Reports Horrible Earnings, Awards Itself Bigger Bonuses
- Caterpillar Global Retail Sales Decline For 14th Consecutive Month
- Coca-Cola Plans $1 Billion in Cost Cuts as Profit Falls
- Amazon’s Bad Omen for the U.S. Economy
- As Goes Walmart; So Goes America
- Newly Private Dell To Fire Over A 15,000 Employees
- GM Slides On Big Miss
- GM Joins Ford Posting Sales Drops
EURO-ZONE
- EU forecasts weak growth through 2015, warns about deflation
- European Inflation Has Biggest Monthly Drop On Record
- Euro-Area Recovery Loses Pace as Manufacturing Weakens
- Euro-zone inflation returns to record low
- U.K. Inflation Unexpectedly Slows to Below BOE’s 2% Target
- Nowotny Sees Low ECB Rates If Inflation Doesn’t Settle Above 2%
- European Automated Trading Commissions Up To to 52% in 2014 From 51% Last Year
- The “Sick Man Of Europe” Is Back – German Economy Barely Grows In 2013
- Germany manufacturing orders fall unexpectedly
- German Food-Processing Equipment Maker 2014 Forecast Falls Short of Expectations
- Deutsche Bank to slash U.S.-based assets by $100 billion
- Swiss Economy Expands Less Than Forecast as Exports Decline
- U.K. Unemployment Rate Unexpectedly Increased In The Fourth Quarter
- RBS Posts Biggest Loss Since 2008 as McEwan Begins Overhaul
- RBS to Cut 30,000 Investment Banking Jobs
FRANCE
- French Joblessness Surges To New Record High (Up 30 Of Last 32 Months)
- French Debt Burden Continues To Rise After Climbing To 94% of GDP Last Year
- French economic growth slowing
- French industrial production weak at end of 2013
ITALY
- Italy Unemployment Rises to Record 12.9% from 12.7% in December
- EU Cuts Italy Growth Forecast – Debt Will Rise To 133.7% of GDP In 2014
- Italy’s industrial output drops sharply in Dec.
- Italy Banks May Face Up to $20 Billion Capital Gap, ABI Says
- Italy Unveils Most Bizarre Bank Bailout Yet
SPAIN
- Spanish Economy Grew Less Than Estimated in Fourth Quarter
- Spanish Bad Loans Hit Record; Surge Most In A Year
- Spain Homebuyer Bids Fell 23% Short of Asking Prices in 2013
- Spain’s Banco Popular Bad Loans Surge 20% QoQ (Most Ever) To Record High
- Greek Unemployment Hits New Record; People Employed Drops To Record Low
EURO-ZONE COMPANIES
- KPN to Cut Up to 14% of Dutch Workers on Mobile Competiti
- Volvo Doubles Job Cuts as Truck Demand Unlikely to Expand
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