News on Permanent Portfolio Fund (PRPFX)Sunday January 25th 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
Why Republicans are rooting for the Kansas City Royals
[at MarketWatch] - Like many investment theories, the World Series Predictor is supposed to show a link between two events, writes Mark Hulbert.
[video] 'Hedge your bets' amid geopolitical turmoil: Pro
Latest business news
Sunday January 25th 2015: Latest financial news from the worldEyes on Fed after ECB, other bank stimulus moves
By Caroline Valetkevitch NEW YORK (Reuters) - The Federal Reserve could be key for Wall Street next week as investors get to hear from the U.S. central bank for the first time since a series of moves by its global peers, including the European Central Bank's massive stimulus plan. Thursday's larger-than-expected stimulus package from the ECB lifted U.S. stocks, helping indexes post gains for the week after three straight weeks of losses.
All eyes on Fed, Greece after ECB fires bazooka
By Ingrid Melander PARIS (Reuters) - After the surprises from central banks which rocked markets at the start of the year, the U.S. Federal Reserve will be watched as closely as ever this week to see that it doesn't stray from its own policy path. The atmosphere will already be tense as the fallout from Sunday's snap election in Greece settles and concern has grown in some quarters that central banks, which played such a big part in guiding economies through the financial crisis, are becoming less predictable. The shock of the Swiss National Bank abandoning its cornerstone currency cap had yet to fully subside when the European Central Bank said it would flood markets with over a trillion euros, more than expected, to prevent the euro zone from sliding into deflation. Canada also cut its rate out of the blue and Denmark did so twice to navigate a world of tumbling oil prices and weak growth.
Venezuela's currency woes an increasing threat to U.S. corporate profits
By Tim McLaughlin and Svea Herbst-Bayliss (Reuters) - Venezuela's deepening economic troubles, and in particular the weakness of the bolivar and restrictive currency controls, have hurt U.S. corporate profits for the fourth quarter of 2014 and are set to inflict further pain this year. In a likely sign of things to come from a number of companies this results reporting season, Ford Motor Co on Friday said it was taking a pre-tax charge of $800 million for its Venezuela business. Ford also said that it was unable to maintain normal production in Venezuela with the availability of vehicle parts constrained. Also on Friday, diaper and tissue maker Kimberly-Clark Corp said it took a fourth-quarter charge of $462 million for its Venezuelan business.
U.S. existing home sales, economic activity gauge rise
The National Association of Realtors said on Friday existing home sales increased 2.4 percent to an annual rate of 5.04 million units last month. "The still-tight mortgage credit conditions and more challenging first-time homebuyer affordability that were revealed by the failure of home sales to continue recovering last year remain serious concerns as we head into 2015," said Ted Wieseman, an economist at JPMorgan in New York. First-time buyers made up 29 percent of transactions in December as well as for the year as a whole, well below the level needed to boost growth in the housing market. For all of 2014, existing home sales fell 3.1 percent, the first annual drop in four years. The housing market has struggled to maintain momentum since stagnating in the second half of 2013 following a run-up in mortgage rates.
Volkswagen to recall 80,000 Audis; 35,000 in China
German car maker Volkswagen AG will recall 80,000 cars from its luxury division Audi due to issues with the fuel injection system, Audi said on Saturday, adding that around 35,000 of the affected vehicles are from China. China is Audi's biggest market. China's official Xinhua news agency, citing the country's quality watchdog, reported that Volkswagen's local joint venture, China FAW-Volkswagen Automotive Co Ltd, will begin the recall on March 20, affecting various Audi A4, A5, A6, A7 and Q7 models.
Exclusive: Big mortgage investors take first step toward suing Ocwen
By Karen Freifeld NEW YORK (Reuters) - Major mortgage bond investors including BlackRock , MetLife and Pimco on Friday took a first step toward suing Ocwen Financial Corp , accusing it of having failed to properly collect payments on $82 billion of home loans, according to a person familiar with the matter and to documents seen by Reuters. The group sent a formal notice of non-performance to Ocwen and trustees for 119 residential mortgage-backed securities trusts, alleging improper loan modification practices, wrongfully recouped advances, and a failure to account for cash flows. The notice said that Ocwen also steered work to affiliates such as Altisource Portfolio Solutions and Home Loan Servicing Solutions for allegedly unnecessary or overpriced mortgage servicing to the detriment of the trusts, investors and borrowers. The case is the latest setback for Ocwen, which was recently threatened with the loss of its license in California, and whose stock has fallen 89 percent from its record high in October 2013 amid state and federal probes into its business practices.
Expedia Inc acquires Travelocity in $280 million deal
Expedia Inc has acquired online travel agency Travelocity from technology company Sabre Corp for $280 million in cash, the companies said in a statement on Friday, as consolidation in the online booking industry continues. The deal follows a 2013 marketing agreement in which Expedia Inc's technology powered platforms for Travelocity's U.S. and Canadian websites, while Travelocity drove additional web traffic to Expedia. The merger marks further consolidation in the online booking space, which has seen a number of acquisitions from Expedia Inc's main competitor, The Priceline Group , including its $2.6 billion takeover of restaurant reservation website OpenTable last year. "Given the success that they've had with integrating Travelocity into Brand Expedia (through the 2013 agreement), it's a positive outcome," said S&P Capital IQ analyst Tuna Amobi.
U.S. seeks reversal of landmark insider trading ruling
Federal prosecutors in New York on Friday asked a U.S. appeals court to reconsider a landmark ruling that curtailed their ability to pursue insider trading cases and jeopardized several convictions. Prosecutors under Manhattan U.S. Attorney Preet Bharara asked the 2nd U.S. Circuit Court of Appeals to grant a rehearing in the case of hedge fund managers Todd Newman and Anthony Chiasson, who in December won the reversal of their insider trading convictions.
Online data storage provider Box's shares soar in debut
Shares of online data storage provider Box Inc rose as much as 77 percent in their market debut as investors bet on the company's ability to turn profitable in a highly competitive market, boding well for another big year for IPOs. Box's shares, which priced at $14, hit a high of $24.72 in morning trading on the New York Stock Exchange on Friday, valuing the company at nearly $3 billion. The stock's enthusiastic reception also underscored healthy investor appetite for technology stocks after the blockbuster debut of Chinese e-commerce giant Alibaba Group Holding Ltd in September. Box was founded in 2005 by University of Southern California dropout Aaron Levie, the chief executive, and his friend Dylan Smith, the chief financial officer.
Diaper wars: Kimberly to take on P&G through innovation, higher ad spend
Kimberly-Clark Corp is set to increase advertising and promotional spending for its diapers and launch new products in an escalating war with bigger rival Procter and Gamble Co in North America. Industry analysts say moms are either going upscale and choosing Pampers or going down-market with Luvs, both P&G brands, leaving Kimberly-Clark's mid-tier Huggies Snug & Dry line without a real identity. To compete better, Kimberly-Clark said on Friday it would cut prices and "improve" its Snug & Dry line starting this quarter, without giving details. Huggies is the core of Kimberly-Clark's baby care products business, which generates about $7 billion in annual sales.
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
Patriots coach invokes science in addressing deflated-football dustup
CIO and IT leaders: YOU hold the burden of proof...
Google leaves most Android users exposed to hackers
Microsoft's HoloLens explained: How it works and why it's different
Purposeful Transformation: Davos Conversations Advance the Journey
The following is co-written with Cheryl Grise, EY Global Head of Strategy, and Professor Marc Ventresca, economic sociologist, University of Oxford. Listen carefully to the buzz during the World Economic Forum annual meeting this week and one thing is abundantly clear: Current global realities have changed the game for most firms. Today,...
Watch seniors play Grand Theft Auto V for the first time
Silicon Valley's big acquisition mantra: Buy it, leave it alone
At Davos, Technology CEOs Discuss the Digital Economy
Davos: One of the most anticipated discussions at this year's meeting was the plenary session on The Digital Economy. Given that I wrote the book that coined that term 20 years ago, I attended with great interest.On the panel were Google chairman Eric Schmidt, Vodafone CEO Vittorio Colao, Facebook COO Sheryl Sandberg, and Microsoft CEO Satya...
Top iOS news of the week: Eye tracking, Chrome Handoff, iPhone big in Asia
Top Android news of the week: Windows phone, Samsung overheating, and Google apps
Turn your Instagram pictures into tattoos
One month with the Samsung Galaxy Note Edge: 5 ways to use the edge and 10 reasons to love the phone
Low Latency 117: Pie in the sky
Ring ring, it's your watch calling
Behold 'Guardians of the Galaxy' in 8-bit glory
Samsung Galaxy S6: What we know so far about the upcoming flagship
Crave Ep. 189: 'Star Wars' supercut shows every GUI in the 1977 film
Why Designers are Integral to All Marketing Activities
Why savvy execs are falling in love with designers (and we don't mean Ralph Lauren).Today customer experience defines your business: how prosumers engage with your business and in some cases make "Darwinian" decisions about buying your products/services.In the "ancient day's" designers were geeks who were kept in closets, fed fast food and just...
The pope: Stop swearing, get off your gadgets and talk to each other
Saturn steals the moon's place in stunning city view
Give Them What They Want
In direct marketing, your offer -- what recipients receive when they reply to you -- is the key to generating a prompt response and timely sales. Other than data selection and personalization, nothing has a greater impact on the success of a direct marketingl effort than a simple, specific, easy-to-obtain offer. While offers can take many...
The big 'Arrow' question: Can you swallow this Canary?
Claman on Call: FBN Closes Out the Week in Davos
Welcome to Claman on Call. The markets might be closed but FOX Business is always on call.
What to watch this weekend
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