Posted by: youngragingbull | June 10, 2013

Word on the Street: New Xbox to be released in Nov. for $499

Microsoft Corp. on Monday said the Xbox One will be available in November. The latest version of the company’s gaming console will sell for $499 in the U.S., 499 euros in Europe and 429 pounds in the U.K., Microsoft announced at the E3 show in Los Angeles. Shares of Microsoft were down 1.2% at $35.27 in afternoon trades.

Posted by: youngragingbull | June 9, 2013

Japan Q1 GDP revised higher

Japan’s gross domestic product rose 4.1% in the January-March quarter from a year earlier, better than the originally reported rise of 3.5%, the Cabinet Office said Monday.

On a quarterly basis, GDP rose 1% in the first three months of the year, better than the preliminary result of 0.9%.

Posted by: youngragingbull | June 7, 2013

Word on the Street: Wal-Mart online sales to hit $10B this year

Wal-Mart Stores Inc. Chief Executive Mike Duke said at the company’s annual shareholder meeting on Friday that it expects to generate $10 billion in online sales by the end of this year, up from its previous goal of $9 billion, to reflect growth and acquisition of China’s ecommerce site Yihaodian.

Wal-Mart shares are up 1.2% as it also unveiled a $15 billion buyback program.

Posted by: youngragingbull | June 7, 2013

Lehman customers to receive full payout: Trustee

Institutional customers of Lehman Bro’s disintegrated brokerage unit will receive a complete payout of their claims, close to five years after the collapse of the investment bank, according to the trustee for the liquidation.

The distribution is possible because of settlements between Lehman Brothers units in the U.S. and U.K., according to the trustee, James Giddens, in a statement.

“The system to protect customer property worked, and that is good news for the former Lehman customers caught up in the bankruptcy who will now get all their property back,” Giddens said.

The trustee said that this deal paves the way for future distributions to general creditors, former employees, pension funds, institutions and banks.

Source: MW

Posted by: youngragingbull | June 7, 2013

Wal-Mart to buy back up to $15B shares

Wal-Mart Stores Inc. said at its annual shareholder meeting on Friday that it will repurchase as much as $15 billion in shares.

The new program replaces the previous $15 billion plan, which had about $712 million remaining under the 2011 authorization.

Wal-Mart earlier this year also raised its annual dividend by 18% to $1.88 a share.

Posted by: youngragingbull | June 7, 2013

U.S. Job Report

The U.S. created 175,000 jobs in May in a sign that the economy continues to grow at a moderate pace despite higher taxes, federal spending cuts and a weak global economy.

The unemployment rate ticked up to 7.6% from 7.5%, the Labor Department said Friday, as more people entered the labor force in search of work.

Economists surveyed had expected an increase of 164,000 jobs last month and a jobless rate of 7.5%.

The number of new jobs created in April was lowered to 149,000 from 165,000, while March’s figure was revised up to 142,000 from 138,000.

The largest increase in hiring in May occurred in the fields of professional services (57,000), bars and restaurants (38,000) and retail (28,000). The manufacturing sector cut 8,000 jobs and government employment fell slightly again.

Posted by: youngragingbull | June 7, 2013

Canadian Job Report

Canada’s economy had its best month for job creation in more than a decade last month, adding 95,000 new jobs, according to Statistics Canada.

A consensus of economists had been expecting Canada to create only about 15,000 jobs during the month.

The large gain pushed unemployment down a tenth of a percentage point to 7.1 percent.

The sector that gained the most was the construction industry, which added 42,700 new jobs during the month — almost half of the total.

Regionally, Ontario, Quebec and Alberta accounted for almost all of the gains, as four of the other seven provinces reported job losses last month. Every province from Manitoba eastward saw its jobless rate drop, while the three western provinces reported somewhat higher jobless rates.

Posted by: youngragingbull | June 7, 2013

Word on the Street: Two PE firms buy Public Mobile

Public Mobile has been purchased by Toronto-based Thomvest Seed Capital Inc., and Cartesian Capital, a New York-based private equity firm.

Terms of the deal were not disclosed.

The purchase comes just days after the Canadian government blocked the sale of another low-cost mobile services provider, Mobilicity, to Telus.

The federal government also delayed its wireless spectrum auction until January 2014. Ottawa says it wants to ensure there are at least four wireless carriers in each region of the country.

Posted by: youngragingbull | June 6, 2013

ECB holds lending rate at 0.5%

The European Central Bank kept its main lending rate at a record low 0.5% at the conclusion of its meeting on Thursday.

Last month, the ECB cut that rate by a quarter point from 0.75%.

The ECB left its deposit rate, which it pays banks on reserves held at the central bank, at zero.

Posted by: youngragingbull | June 6, 2013

BOE holds key lending rate & asset purchases

The Bank of England on Thursday kept its key lending rate at a record low of 0.5% unchanged as well as the size of its bond-buying program.

The lending rate, which determines interest rates for commercial and retail customers, has stood unchanged since March 2009.

The bank’s Monetary Policy Committee left its asset purchases, the centerpiece of its quantitative-easing strategy, at 375 billion pounds ($579 billion).

Minutes from the June meeting will be published on Wednesday June 19.

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