Resource stocks mirror global economy - Financial Times Resource stocks mirror global economy - Financial Times

Friday, May 18, 2012

Resource stocks mirror global economy - Financial Times

Resource stocks mirror global economy - Financial Times

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Nasdaq stocks posting largest volume decreases - Yahoo Finance

NEW YORK (AP) -- A look at the 10 biggest volume decliners on Nasdaq at the close of trading:

American River Bankshares : Approximately 500 shares changed hands, a 94.7 decrease from its 65-day average volume. The shares rose $.01 or .1 percent to $7.08.

Beacon Federal Bancorp Inc. : Approximately 300 shares changed hands, a 97.2 decrease from its 65-day average volume. The shares rose $.12 or .9 percent to $13.50.

Central BanCorp. : Approximately 100 shares changed hands, a 96.3 decrease from its 65-day average volume. The shares fell $.05 or .2 percent to $30.48.

Citiz Cmty Bcp Wisc : Approximately 400 shares changed hands, a 96.1 decrease from its 65-day average volume. The shares rose $.04 or .7 percent to $6.05.

Escalade Inc. : Approximately 500 shares changed hands, a 95.5 decrease from its 65-day average volume. The shares rose $.02 or .4 percent to $5.67.

FedFirst Financial Corp. : Approximately 300 shares changed hands, a 95.1 decrease from its 65-day average volume. The shares fell $.04 or .3 percent to $14.06.

First City Financial Corp. : Approximately 400 shares changed hands, a 95.0 decrease from its 65-day average volume. The shares rose $.34 or 4.0 percent to $8.81.

North Central Bancshares Inc. : Approximately 100 shares changed hands, a 97.7 decrease from its 65-day average volume. The shares rose $.02 or .1 percent to $30.37.

North Valley Bancorp : Approximately 600 shares changed hands, a 96.4 decrease from its 65-day average volume. The shares fell $.17 or 1.3 percent to $12.77.

Versant Corp. : Approximately 100 shares changed hands, a 98.4 decrease from its 65-day average volume. The shares remained unchanged at $9.75.

New York Financial District Becomes Temporary Home To Kwikset Locks - Yahoo Finance

LAKE FOREST, Calif., May 18, 2012 /PRNewswire/ -- At a time when homeowners are investing in highly flexible and usable spaces, Country Living features Kwikset® as a smart and convenient security solution throughout its 2012 House of the Year micro-cottage project. Open to the public today through May 23, Kwikset's sponsorship will extend smart security options to a kitchen, office and guest bedroom with Kwikset's Signature Series products. Kwikset's SmartKey® re-key technology and SmartCode keyless entry products are featured in each of the micro-cottages. 

"Country Living is well-known for celebrating stylish interiors that reflect their readers' interests and personal journeys," said Tracy Haugh, senior brand manager, Kwikset. "By partnering with the House of the Year, we will showcase how Kwikset's smart, simple security solutions align with homeowners' unique lifestyles and style preferences."

"We're so glad to have Kwikset lend their support to the House of the Year project," says Sarah Gray Miller, editor in chief, Country Living. "Like with all homes, it was important to ensure the safety of Country Living's House of the Year, and Kwikset made that process seamless and easy."

Country Living's 2012 House of the Year building project, Room to Spare, consists of three separate single room micro-cottages approximately 250 square feet each. Separate from the main home, these cottages enable homeowners to add space without the hassle and inconvenience of major construction. The micro-cottages are displayed at The World Financial Center and open to the public for one week in May. Visitors have the opportunity to experience Kwikset's SmartKey re-key technology and SmartCode products and experience their functionality in a synergistic environment. Additionally, homeowners can tour the cottages in the September issue of Country Living and virtually on August 7, when the issue hits newsstands.

For more information about Kwikset's handleset, knob, lever and deadbolt product offerings, please visit

About Kwikset

Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, engineered fastening systems, and more. 

The Stanley Black & Decker Hardware and Home Improvement Group (HHI) is part of the company's Mechanical Access Solutions division. HHI develops, manufactures, markets and sells builders' hardware, residential and commercial door hardware, kitchen and bath faucets, shower systems and bath accessories under the Stanley®, National Hardware®, Kwikset®, Weiser®, Baldwin®, and Pfister® brands. Headquartered in Orange County, Calif., HHI has a global sales force and operates manufacturing and distribution facilities in the U.S., Canada, Mexico and Asia.

About Country Living

Country Living ( is a lifestyle magazine, focusing on a variety of topics including decorating, antiques, cooking, travel, remodeling and gardening. In addition to its U.S. flagship, Country Living publishes a United Kingdom edition. Country Living is published by Hearst Magazines, a unit of Hearst Corporation (, the largest publisher of monthly magazines in the U.S. (ABC 2011) which reaches 87 million adults each month (Spring 2011 MRI). For the latest from Country Living, visit Country Living's Facebook page, Pinterest board and follow Country Living on Twitter at @CountryLiving.

Media Contacts:
Abby Draper,
Phone: 213.289.9190

Spanish stocks fall amid turmoil - Belfast Telegraph
Concerns that Europe's debt crisis could drag down parts of the continent's banking system have hit most global markets though social network Facebook's imminent flotation buoyed sentiment on Wall Street.

Spain's main stock index recovered 1.34% from heavy losses on Thursday, thanks mainly to a bounce back in the shares of state-controlled lender Bankia, which had plummeted on reports of an increase in deposit withdrawals. They rose 22%, making up for a similar drop the previous day.

Banco Santander and Banco Bilbao Vizcaya Argentaria were up more than three points in mid-morning trading.

The level of bad loans on the books of Spain's banks has risen to an 18-year high, the country's central banker reported, increasing concern for the stability of Spain's financial sector and the country's place in the fragile eurozone economy.

The Bank of Spain reported that lenders' and savings banks' bad loan ratio had risen in March to 8.36% from 8.15% the previous month.

News of the increase followed a downgrading by credit ratings agency Moody's of the country's banking industry.

Spain is in the eye of the storm of the eurozone debt crisis amid worries that its banks are overexposed to an imploded property bubble and the government, fighting recession and a nearly 25 % jobless rate, could not afford to bail them out if it needed to.

By midday in Europe, stock exchanges managed to slightly reverse their earlier losing streaks with Britain's FTSE 100 fell 0.5% to 5,311, Germany's DAX was up 0.4% to 6,333 and France's CAC-40 rose 0.6% to 3,030.

Worries over Spain were reignited by the prospect that Greece might leave the euro currency. Anti-bailout political parties made huge gains in general elections on May 6, though that ballot proved inconclusive. Another election will be held on June 17, and the radical left party Syriza, which rejects the international bailout, is forecast to make gains, possibly becoming the biggest party.

In Asia, Japan's Nikkei 225 tumbled 3% to close at 8,611.31, its lowest finish in four months as signs of weakness in the US, a critical export market for Japanese companies, battered some of the country's behemoth manufacturers. Hong Kong's Hang Seng dropped 1.3% to 18,951.85 and Australia's S&P/ASX 200 slid 2.7% to 4,046.50. South Korea's Kospi tumbled 3.4 % to 1,782.46. Benchmarks in Singapore, Taiwan and New Zealand also fell.

DEA Drug Tales: The Death of William Coyman and His Money - Opposing Views

Everyone knows how it’s supposed to go – the DEA or other policing agency catches the bad guys and seizes their stuff. The news reports about drug interdiction usually list the amount of cash taken in the arrest. It’s the norm for goods and money taken to then go to the agency involved to fund further anti-drug operations.

But what happens when there’s a counterclaim?

In what may turn out to be an important test case, the DEA seized $180,000 with the claim it was drug money and the purported owners are taking them to court to get it back.

This follows the heart attack death of William Coyman. He stepped off a train in NY and died on the platform. A search of the bag he had found $180,000 in cash. If that wasn’t suspicious enough, it turns out Mr. Coyman had previously been incarcerated for drug dealing and, at 75, was a retired union man – a union tied to organized crime.

But what is really at issue is just how the DEA determined it was drug money, since no drugs were found on the dead man. They used a drug dog who was alerted to the cash.

Further investigation found that Mr. Coyman was transporting the money for a production company in Boston. According to a report from MSNBC, the company, 180 Entertainment, is also under suspicion.

They quote Mr. Coyman’s son, speaking about his father, “The people connected to that money are probably not good people. My dad was a great man. But clearly he had a colorful history.”

The question is whether the dog’s testimony is enough to label the money as “illegal drug money” and subject to seizure. There have been no drug arrests, nor has any crime been alleged. And in 2009, CNN reported that 90% of US currency had traces of cocaine on it. How exactly does one tell, without other evidence, that money was used to purchase drugs?

How this plays out in court will be instructive. 180 Entertainment wants their money back. If they survive the assumed investigation into their activities, it will come down to a dog’s nose.

Tetragon Financial Group Limited (TFG) Announces Update on its Share Repurchase Program - Yahoo Finance

LONDON, May 18, 2012 /PRNewswire/ --

TFG today announces in furtherance of its share repurchase program announced on November 30, 2007, that for the period of May 14, 2012 through May 18, 2012 TFG purchased 115,511 of its shares for an average price of U.S. $7.60 per share.

About Tetragon:

Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on Euronext Amsterdam by NYSE Euronext under the ticker symbol "TFG" that currently invests primarily through long-term funding vehicles such as collateralized loan obligations in selected securitized asset classes and aims to provide stable returns to investors across various credit, equity, interest rate and real estate cycles.

This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction.

The securities of TFG have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered or sold in the United States or to US persons unless they are registered under applicable law or exempt from registration.

TFG does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States.

In addition, TFG has not been and will not be registered under the US Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act.

TFG is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act as a collective investment scheme from a designated country.

For further information, please contact:

David Wishnow/Yuko Thomas
Investor Relations

Press Inquiries:
Brunswick Group
Gill Ackers/Pip Green