News on Permanent Portfolio Fund (PRPFX)Saturday February 28th 2015
Latest news for Permanent Portfolio(PRPFX) (See analysis on PRPFX)
Aggregared News for Permanent Portfolio(PRPFX) from various sourcesSwiss Shock Spurs Gold Bid as ETP Assets Jump Most Since ‘11
[video] 'Hedge your bets' amid geopolitical turmoil: Pro
Latest business news
Saturday February 28th 2015: Latest financial news from the worldJobs report may test market's complacency
The U.S. stock market has been quiet this week - too quiet. Wall Street has traded in a tight range of late, with both volatility and trading volumes drying up as the earnings season winds down and Federal Reserve Chair Janet Yellen's recent Congressional testimony delivered no surprises. About 238,000 jobs are expected to have been added in February, according to the non-farm payroll report that will be released on Friday, down from the 257,000 added in January. "Economic data will be the biggest driver of market moves over the next month, and the key one is the jobs report," said Jim McDonald, chief investment strategist at Chicago-based Northern Trust Asset Management.
U.S. economy slowed in fourth quarter, but growth outlook still favorable
U.S. economic growth braked more sharply than initially thought in the fourth quarter amid a moderate increase in business inventories and a wider trade deficit, but strong domestic demand brightened the outlook. Gross domestic product expanded at a 2.2 percent annual pace, revised down from the 2.6 percent pace estimated last month, the Commerce Department said on Friday. The economy grew at a 5 percent rate in the third quarter. Businesses accumulated $88.4 billion worth of inventory in the fourth quarter, far less than the $113.1 billion the government had estimated last month.
Dudley, top U.S. economists urge later Fed rate hike
Raising interest rates too late is safer than acting too early, an influential Federal Reserve official said on Friday, endorsing a high-profile research paper that argues the U.S. economy, given time, can rebound to the strong growth rate to which Americans are accustomed. The paper by four top U.S. economists, presented on Friday to a roomful of powerful central bankers in New York, argues the Fed would be wise to keep rates at rock bottom for longer than planned and then tighten monetary policy more aggressively. New York Fed President William Dudley, who offered a critique of the paper, cited currently low inflation and warned against being too anxious to tighten monetary policy. The U.S. central bank is in the global spotlight as it weighs when to lift rates after more than six years near zero, and how quickly to tighten policy thereafter.
Wall Street ends down after data; posts strong gains for month
NEW YORK (Reuters) - The S&P 500 posted its best monthly gain since October 2011 on Friday, but U.S. stocks ended lower for the day as U.S. economic growth slowed more sharply than initially thought in the fourth quarter.
Greece seeks negotiations on ECB bond repayment
Greece called into question on Saturday a major debt repayment it must make to the European Central Bank this summer, after acknowledging it faces problems in meeting its obligations to international creditors. Finance Minister Yanis Varoufakis said Athens should negotiate with the ECB on 6.7 billion euros ($7.5 billion) in Greek government bonds held by the Frankfurt-based bank that mature in July and August. Varoufakis did not say what he hoped to achieve in any talks, but he accused the ECB of making a mistake in buying the bonds around the time Greece had to take an EU/IMF bailout in 2010. The government of leftist Prime Minister Alexis Tsipras promised to honor all its debt obligations when it struck a deal with the euro zone last week that extended Greece's bailout program for four months.
HSBC not the troublemaker made out to be, rival Swiss banker says
HSBC , in the spotlight after details emerged about how its Swiss unit allegedly helped clients dodge taxes, isn't the troublemaker it is currently depicted as, the head of a rival private bank was quoted saying on Saturday. "HSBC has been described as the troublemaker in class, and it is not," Carlos Esteve, founder and CEO of Geneva-based Heritage, said in an interview with Swiss daily Le Temps. "HSBC was among the first to take steps to regularize its clients. Founded in 1986, Banque Heritage is part of a program brokered by the Swiss government for Swiss banks to come clean on their untaxed American clients, paying fines and cooperating with authorities in order to avoid prosecution.
Lockheed, Sikorsky venture awarded $2.0 billion helicopter support deal
WASHINGTON (Reuters) - The U.S. Navy has awarded a joint venture of Lockheed Martin Corp and Sikorsky Helicopter a contract worth $2 billion to service the Navy's H-60 helicopters through Jan. 31, 2020, the Pentagon announced on Friday.
Icahn's investment fund posts first loss since 2008 on oil plunge
Billionaire activist investor Carl Icahn's publicly traded investment fund posted its first annual loss since 2008 last year, undone by plummeting oil prices, the company said in a regulatory filing on Friday. Results were hurt by a halving of oil prices between June and December amid a global supply glut. "This year's results were obviously disappointing, with the precipitous decline in oil prices impacting the profitability of many of our segments," Icahn said in a statement. The performance of Apple Inc , the largest position in Icahn's investment segment, "softened the impact of the decline in oil prices and hopefully will continue to do so," Icahn said.
Brazil probe of dictatorship period not satisfied by Volkswagen testimony
By Brian Winter SAO PAULO (Reuters) - The leader of a truth commission investigating abuses during Brazil's 1964-85 military dictatorship lambasted German automaker Volkswagen AG at a hearing on Friday for providing what he called "unsatisfactory" testimony regarding its alleged ties with the regime. In a contentious, nearly three hour-long session, Sao Paulo state legislator Adriano Diogo and several former Volkswagen employees pressed a company executive to explain whether and how the automaker collaborated with the right-wing regime. Documents uncovered last year suggest that Volkswagen and dozens of other companies gave the dictatorship names, home addresses and other sensitive information regarding union activists on their payrolls in the 1980s. Volkswagen, which had more workers on the list than any other company, was one of three companies called to testify on Friday before the Sao Paulo state commission, chaired by Diogo, a member of Brazil's ruling Workers' Party.
Southwest Airlines nears end of inspections that grounded 128 planes
(Reuters) - Southwest Airlines Co said on Friday it has finished inspecting 115 of 128 planes that it briefly pulled out of service on Tuesday when it discovered maintenance checks were overdue, and it expects to complete the rest this weekend. Southwest voluntarily removed the aircraft from service and disclosed the matter on Tuesday to the U.S. Federal Aviation Administration, which then said it could operate the aircraft for a maximum five days while it completed the checks. "While all oversight failures are unwelcome, this scale of maintenance-related failure is hardly unique," aviation industry consultant Robert Mann said in an email, adding that the FAA's response on Tuesday "suggests it was not a safety-critical issue." The checks resulted in about 80 Southwest flight cancellations on Tuesday and about 15 cancellations on Wednesday but no others since.
US stock market wavers in early trading
General strike shuts down services across Greece
ATHENS, Greece (AP) — Services across Greece shut down Wednesday as unions staged a 24-hour general strike and held peaceful demonstrations to protest further austerity cuts in the cash-strapped country.
Unemployment rates fall in two-thirds of US states
Unemployment rates fell in two-thirds of U.S. states last month, evidence that modest economic growth is boosting hiring in most areas of the country.
US stocks edge higher in afternoon trading
Stocks were on track to finish higher Thursday afternoon for the second day in a row as investors drew encouragement from reports on Chinese manufacturing, U.S. home sales and some positive earnings from Best Buy, Dollar Tree and other retailers.
US stocks edge higher in midday trading
Major stock indexes shifted higher in midday trading Thursday, getting a lift from an encouraging report on Chinese manufacturing and some positive earnings from Best Buy, Dollar Tree and other retailers. The market also got a boost from data showing modest improvement in sales of previously occupied homes.
US stocks are mixed in early trading
Disney wants to help developers make games more interactive
Chinese internet giants purge 60,000 accounts for inappropriate usernames
Disney's retelling the 'Star Wars' film saga with Legos
Uber breach could affect the data of 50K drivers
7 things Net neutrality won't do
I support Net neutrality, but that is not what the FCC just did
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Daily Roundup: History of net neutrality, deconstructing Nintendo and more!
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Welcome to Claman on Call. The markets might be closed but FOX Business is always on call.
Uber data breach compromises IDs of 50,000 drivers
Google Cloud Platform getting its own status dashboard
Apple Watch may open cars, says CEO Tim Cook
YouTube's new video trimming tool makes mobile edits a breeze
Even in the ideal setting, it's nearly impossible to get the perfect piece of footage that won't require edits. Those changes can be tough to tackle on mobile, but thanks to a YouTube update, perfecting ...
Lenovo's Superfish screwup highlights biggest problem in software
Amazon Echo beta SDK coming for developers, content providers
Give Yourself a Raise: The Big Income Potential of Teaching Your Own Online Courses
As a business owner (or future business owner), you should always be looking for ways in which you can diversify your income streams. Where can you offer more products or services to existing customers? Where can you branch out to different content mediums to attract more people? In what ways can you leverage your time and add more to your...
What Net Neutrality Means for You
Is there something worse than having to call the cable company? Maybe.
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