Latest news for Prudential Jennison 20/20 Focus A(PTWAX) (See analysis on PTWAX)
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Sunday February 1st 2015: Latest financial news from the worldEnergy may see further weakness as key names report
The group has been falling alongside crude oil prices, which are down about 60 percent since June. For the full year, earnings are seen down almost 45 percent, nearly twice the decline of 23.3 percent forecast on Jan. 1.
Fed's 'solid' growth view faces test as Greek drama unfolds
By Philip Blenkinsop BRUSSELS (Reuters) - The Federal Reserve's upgraded view that growth in the world's biggest economy is "solid", and so capable of withstanding an interest rate rise this year, will be put to the test by U.S. jobs data this week. The Federal Reserve last week lifted its assessment of the U.S. expansion to "solid" from "moderate", with jobs growth now seen as "strong". "Interest rates then were 6 percent. In an encouraging sign, the more widely respected Employment Cost Index, released on Friday, showed labour costs increased by 2.2 percent in the 12 months through December, although still below the 3 percent economists say is needed to bring inflation close to the Fed's 2 percent target.
U.S. regulators recall 2.1 million vehicles in new air bag issue
The auto industry's air bag troubles deepened on Saturday as U.S. federal safety regulators said three big automakers will recall about 2.1 million older vehicles to fix defects that could cause air bags to deploy when they are not supposed to. The vehicles involved in the recall announced by the U.S. National Highway Traffic Safety Administration are made by Toyota Motor Corp, Fiat Chrysler Automobiles NV and Honda Motor Co. There have been about 400 reported cases of inadvertent air bag deployments in the recalled vehicles, NHTSA Administrator Mark Rosekind said. The recall concerned a defective chip in air bag systems and the fix involved replacing the entire air bag module, including circuits manufactured by parts maker TRW Automotive Holdings, Rosekind said.
China factory sector jolts by shrinking in January
By Koh Gui Qing BEIJING (Reuters) - China's factory sector unexpectedly shrank for the first time in nearly 2-1/2 years in January and firms see more gloom ahead, an official survey showed, raising expectations that policymakers will take more action to forestall a sharper slowdown. The official Purchasing Managers' Index (PMI) fell to 49.8 in January, the National Bureau of Statistics said on Sunday, a low last seen in September 2012 and a whisker below the 50-point level that separates growth from contraction on a monthly basis. Most of the PMI indexes "showed a downward trend, indicating that current economic growth is still in a downtrend," said Zhang Liqun, an economist at the Development Research Center, a state think-tank. Some economists said the January reading was especially downbeat as it suggested that factories did not enjoy a usual spike in business before China's annual Spring Festival holiday, which falls in mid-February this year.
Greece seeks to reassure Europe as tensions rise
By James Mackenzie and Renee Maltezou ATHENS (Reuters) - New Greek Prime Minister Alexis Tsipras, striking a conciliatory note on debt talks after a turbulent start to office, has called the European Central Bank chief to assure him that Athens was seeking an agreement. The new government in Athens made clear from its first day in power that it would not back down on its election pledges to abandon the austerity policies imposed under the bailout agreement sealed by the last government.
Germany, ECB play hardball with Greece
By Paul Carrel and Jussi Rosendahl BERLIN/HELSINKI (Reuters) - German Chancellor Angela Merkel ruled out a debt writedown for Greece on Saturday, and a European Central Bank policymaker threatened to cut off funding to Greek banks if Athens does not agree to renew its bailout package. The euro zone's paymaster and the ECB are both taking a tough line with Greece's new leftist government, whose leader swept to victory last Sunday promising that five years of austerity, "humiliation and suffering" were over. Alexis Tsipras has also promised to renegotiate agreements with the European Commission, ECB and International Monetary Fund "troika" and write off much of Greece's 320 billion euro ($360 billion) debt, which at more than 175 percent of gross domestic product is the world's second-highest after Japan.
JPMorgan to pay $99.5 million to resolve currency rigging lawsuit
By Jonathan Stempel NEW YORK (Reuters) - JPMorgan Chase & Co, the largest U.S. bank, agreed to pay $99.5 million to settle its portion of an antitrust lawsuit in which investors accuse 12 major banks of rigging prices in the $5.3 trillion-a-day foreign exchange market. Made public on Friday night, the settlement is the first in the nationwide litigation and resolved claims over JPMorgan's role in alleged collusion among banks since January 2003 to manipulate the WM/Reuters Closing Spot Rates, known as the Fix. ...
Exclusive: Treasury official among those eyed for regional U.S. Fed openings
A U.S. Treasury official and a director at the New York Federal Reserve are among those who have been considered to replace two hawkish Fed policymakers, according to people familiar with the searches. Final decisions are not imminent in the efforts to find successors to Philadelphia Fed President Charles Plosser, who steps down March 1, and Richard Fisher of the Dallas Fed, who retires on March 19. Matthew Rutherford, whose stint as Treasury's top domestic finance official ended on Friday, was under consideration at least in early stages of the searches, according to three sources. James McAndrews, who heads up research at the neighboring New York Fed, was considered for the job in Philadelphia, where he once worked.
McDonald's to slow Russia expansion due to fall in rouble
By Maria Kiselyova MOSCOW (Reuters) - McDonald's Corp. will open fewer new restaurants in Russia this year than last because a fall in the rouble has increased expansion costs and is hurting consumers, its Russian chief executive Khamzat Khasbulatov told Reuters. The rouble, hit by a drop in oil prices and Western sanctions over Ukraine, has fallen more than 50 percent since early 2014, fuelling inflation. Russia now faces its first recession since 2009. McDonald's will open at least 50 new restaurants in Russia compared to 73 last year, having earmarked 6 billion rubles ($87 million) for capital expenditures, the same amount as in 2014, Khasbulatov said in an interview.
BMW, Bosch join Deutsche Bahn in airline cartel damages claim
German carmaker BMW and car supplier Bosch [ROBG.UL] said on Saturday they would join Deutsche Bahn [DBN.UL] in two claims for about 2.1 billion euros ($2.4 billion) in damages from air freight carriers who were involved in a cartel. The air cargo cartel, which included Europe's biggest airline Lufthansa and British Airways, was first discovered seven years ago and triggered fines in the European Union and in the United States. Confirming a report in German magazine WirtschaftsWoche, spokespeople for BMW and Bosch said the companies had joined the lawsuits, announced by Deutsche Bahn in December.
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
Qualcomm's mobile dominance shaken from loss of flagship phone
Danger zone: Enterprise maintenance and support
4G in Brazil sees 400 percent growth in 2014
5 ways APIs will be the workhorses of 2015
IBM boss Ginni Rometty to pocket a $3.6 million performance bonus
Pirate Bay back up after December police raid
Space out in these glow-in-the-dark galaxy undies
Rachael Taylor of 'Grey's Anatomy' to raise hell as Hellcat in 'Jessica Jones'
HTC One M7, M8 owners, you'll have to wait longer for Android 5.0
Google's Nest loses two key execs, including Dropcam CEO
How social media wins the #SuperBowl
Top iOS news of the week: 74 million iPhones, smarter covers, new version of iOS
Surprise! Dish Network emerges as major wireless player after FCC auction
Top Android news of the week: Cyanogen, Office and Outlook, LibreOffice coming
Insomniacs, now you can spray sleep right onto your skin
Five ways Vodafone fudged its global tax report
Microsoft gives business users more Windows 10 upgrade details, guidance
Be warned: Google enlists Chrome in push for encrypted Web
Google has taken its first step to flag ordinary sites like Wikipedia and CNN with a security warning because they are unencrypted, allowing all data transmissions to be viewed by the prying eyes of hackers or governments.>
Google Now and third party apps: One interesting dance
Amazon Echo update adds Pandora, iTunes, and Spotify voice control
Lust! Betrayal! First full trailer for 'Game of Thrones' Season 5 is now official
For Silk Road founder, evidence keeps piling up
Google Now gets cards from Airbnb, Lyft, Pandora and more
The 404 Show 1,599: Sling TV verdict, Trivia Crack and that Kate Upton mobile game (podcast)
Bridget Carey and Ariel Nunez help Jeff and Iyaz understand the fine print of a Sling TV subscription, why Trivia Crack is worse than hardcore narcotics and figure out what the deal is with that mobile game Kate Upton is all about.>
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