Latest news for Prudential Jennison 20/20 Focus A(PTWAX) (See analysis on PTWAX)
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Sunday May 24th 2015: Latest financial news from the worldYellen tone suggests choppiness for markets ahead
U.S. stock investors have been enjoying an extended period of low volatility and steady gains, but with the Federal Reserve on track to raise interest rates this year and major indexes near records, the market could get a bit choppier in coming weeks. Fed Chair Janet Yellen on Friday said she expected the U.S. central bank to raise rates in 2015, though the process was expected to be gradual, with the timing of the first hike dependent on the strength of economic data. Some weak reports have pushed back the expected lift-off, but Yellen's words suggest the Fed is still headed to rate increases later this year.
Iran says OPEC unlikely to change output ceiling: Mehr news agency
OPEC is unlikely to change its production ceiling when the group meets in June, Iran's Oil Minister Bijan Zanganeh said on Sunday, according to the semi-official Mehr news agency. "Lowering OPEC's production ceiling requires consensus between all members ... under current conditions it seems unlikely that the OPEC production ceiling will change," Zanganeh was quoted as saying. Last month, Zanganeh said the producing group should cut its target daily crude production by at least 5 percent, or approximately 1.5 million barrels per day.
Greece hasn't got the money to make June IMF repayment: interior minister
ATHENS/LONDON (Reuters) - Greece cannot make debt repayments to the International Monetary Fund (IMF) next month unless it achieves a deal with creditors, its interior minister said on Sunday, the most explicit remarks yet from Athens about the likelihood of default if talks fail. Shut out of bond markets and with bailout aid locked, cash-strapped Athens has been scraping state coffers to meet debt obligations and to pay wages and pensions. After four months of talks with its euro zone partners and the IMF, the leftist-led government is still scrambling for a deal that could release up to 7.2 billion euros ($7.9 billion) in remaining aid to avert bankruptcy.
After bruising safety crisis, U.S. car watchdog shows its bite
The U.S. auto safety watchdog, long criticized as toothless and slow, is showing both bark and bite under its new boss - a testimony to his credentials as a safety expert and a hardening of the administration's policy after a wave of deadly defects. Having taken the helm of the National Highway Traffic Safety Administration in January, Mark Rosekind has wasted no time in forcing reluctant companies into recalling millions of defective vehicles. In doing so, he has shown greater willingness than some of his predecessors to use the government’s full legal powers over the industry, some for the first time. In the past week alone, the agency announced the biggest recall in history, involving nearly 34 million vehicles with potentially deadly Takata Corp air bags.
G7 finance ministers to address faltering global growth
Figures due on Friday from the United States that will almost certainly show the world's biggest economy contracted last quarter are also likely to feature. "With the negotiations between Greece and the rest of the euro area at an impasse, an impatient German Chancellor Merkel has warned that an agreement must be reached before the end of the month," said Thomas Costerg, senior economist at Standard Chartered. Greece cannot make a payment to the International Monetary Fund due on June 5 unless foreign lenders disburse more aid, a senior ruling party lawmaker said on Wednesday, the latest warning from Athens it is on the verge of default.
Fed on track to hike rates as economic headwinds wane: Yellen
By Jonathan Spicer and Michael Flaherty PROVIDENCE, R.I. (Reuters) - Federal Reserve Chair Janet Yellen was clearer than ever on Friday that the central bank was poised to raise interest rates this year, as the U.S. economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned. Yellen spoke amid growing concern at the Fed about volatility in financial markets once it begins to raise rates, and a desire to begin coaxing skeptical investors toward accepting the inevitable: that a 6-1/2-year stretch of near-zero interest rates would soon end. In a speech to a business group in Providence, Rhode Island, Yellen said she expected the world's largest economy to strengthen after a slowdown due to "transitory factors" in recent months, and noted that some of the weakness might be due to "statistical noise." The confident tone suggested the Fed wants to set the stage as early as possible for its first rate rise in nearly a decade, with Yellen stressing that monetary policy must get out ahead of an economy whose future looks bright.
Bank of England confirms EU exit research after email misfire
By William Schomberg LONDON (Reuters) - The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project. The Guardian reported that an aide to a senior Bank official said in the email the project should be kept secret from most BoE staff and any journalists asking about it should be told the Bank was looking at a broad range of European economic issues. British Prime Minister David Cameron, who was re-elected on May 7, has pledged to reshape Britain's ties with the EU before holding an in-out membership referendum by the end of 2017.
Fiat Chrysler CEO approached GM about a merger, was rebuffed: NYT
Quoting two people with knowledge of the email, the Times said it detailed how global carmakers needed to consolidate to save money and suggested a merged GM and Fiat Chrysler would cut billions of dollars in costs and create an automotive giant. Reuters first reported on April 13 that Marchionne, who leads the world's seventh-largest carmaker, was contemplating a super merger, possibly in the United States, to plug his company's weaknesses and cement his legacy before stepping down in early 2019.
ECB's Draghi urges euro zone to unite for economic reform
European Central Bank President Mario Draghi has urged euro zone countries to unite in the task of reforming the bloc's economies, saying sharing sovereignty was an opportunity and not a threat. Draghi is pushing governments not to waste the time ECB money printing has bought them. In a message read to attendees at a conference in Rome, he said countries should act quickly on recommendations the central bank has made to complete economic and monetary union, many of which have not been carried out.
Renault in Turkey offers concessions to striking workers
The Turkish arm of French carmaker Renault on Saturday offered concessions including a cash lump sum to striking workers if they return to work. Production at the company's joint venture Oyak Renault has been halted for a week in a dispute with workers over pay and working conditions, which has also affected other producers in the northwest city of Bursa, including Tofas and Ford unit Ford Otosan . In a statement on Saturday, Oyak Renault said workers would not face disciplinary action, and would receive a cash payment of 1000 Turkish lira ($370) if production resumed at midnight on Monday.
Bank of England keeps interest rates steady
LONDON (AP) — The Bank of England has kept interest rates steady as it remains cautious about Britain's economic recovery.
Clip-on adds gesture control to Pebble Time and Android Wear watches
Aria is a small add-on that clips underneath a smartwatch band and lets you control the device with finger gestures. It's an accessory for an accessory, which sounds kind of ridiculous, but it's not like ...
Inhabitat's Week in Green: rain lamps and solar-powered pod homes
CES Asia begins in Shanghai
Want cheaper wireless service? Patience is a virtue
The next Firefox OS devices will focus on quality, not cost
Outside of one or two exceptions, most Firefox OS devices have been aimed squarely at the budget crowd -- at folks who would otherwise have to entirely forego smartphoness or tablets. However, Mozilla ...
NASA finds distant galaxy shining as bright as 300 trillion suns
Ever tried looking at the sun with your bare eyes? Too bright, right? Now imagine looking at something with the brightness of 300 trillion suns. That's how intense "the most luminous galaxy found ...
Human gene sequencing gets an official yardstick
Gene sequencing, once a rare feat, is pretty common these days... but how do you know that your DNA data is up to snuff? As of now, there's an easy way to find out. The National Institute of Standards ...
NASA patched Curiosity rover's autofocus problem over the air
Firefox browser for iOS is almost ready for testing
It's been a long time coming, but Firefox for iOS is nearly here... in a manner of speaking. Mozilla has revealed that it's about to conduct a "limited" beta test of the web browser, and has ...
How Rahul Yadav changed the entrepreneur-VC equation forever
Chris Pratt goes on Facebook to apologize in advance for 'Jurassic World' press tour
NSA's collection of phone-call data could be cut off for a time
CIA shuts down program using spy satellites to track climate change
For most of the past two decades, a handful of climate change scientists have had the CIA's MEDEA (Measurement of Earth Data for Environmental Analysis) program as an ace in the hole: they could draw on ...
'Mario Kart: Fury Road' is the Mad Max mashup that needed to happen most
DOJ lays down some privacy rules for feds flying drones
Daimler and Qualcomm team up on connected car tech
Car companies aren't usually good at wireless tech, and wireless companies aren't great with cars -- if you want to make wireless-savvy vehicles, you'll probably need some teamwork. Accordingly, Daimler ...
Skully debuts AR helmet app while navigating delays
Successful user experiences may rely more on psychology than design
Top Windows Phone news of the week: LG's back, updates control, devs don't want to play
Virtual reality's roller coaster ride to the mainstream
In the early '90s, four odd-looking arcade games appeared at a rented-out store in my local mall. For about seven dollars, anyone could stop in and play three minutes of a new virtual reality game called ...
Aukey Quick Charge 2.0 wall and portable chargers top off your new phones quickly
Battery life is important and with more phones launching with integrated batteries, it's important to get those phones charged up quickly. Aukey makes a couple inexpensive solutions for rapid charging.
Top iOS news of the week: Watch update, copy away, Home app
Speak, toy! Welcome to the age of chatting with your teddy bear
Recommended Reading: Why do we hate CGI so much?
Recommended Reading highlights the best long-form writing on technology and more in print and on the web. Some weeks, you'll also find short reviews of books that we think are worth your time. We hope ...
The bizarre and often hilarious world of Grand Theft Auto V mods
Just a month into its PC release, Grand Theft Auto V mods are here -- and they're weird, over-the-top and hysterical. Here are just a few of our favorite mods and instructions on how you can mod Grand Theft Auto V yourself.
Ecocapsules are pint-sized solar and wind-powered micro homes
Top Android news of the week: Factory reset failures, Note 5, phone calling on the watch
News in the Android world this week had reports that Android Wear may get phone calling, Android phones got a preview version of Microsoft Office, factory resetting some phones leaves owner info, and no Galaxy Note 5 in June.
'Tomorrowland' in Dolby Cinema: the best picture I've seen in a theater
In the Dolby Cinema presentation of Disney's "Tomorrowland," fiber-optic-fed laser light engines, 4K resolution, HDR contrast and Atmos sound combine to create a breathtaking cinema experience. Tomorrow's theater experience can't come home soon enough.
Supercharging your gaming PC
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