NEW YORK SHARES

Saturday, April 27, 2019

NEW YORK FOREX COMPANIES

Forex company Listings in New York, US:

Forex Capital Markets LLC‎ - 10th Fl, 32 Old Slip, New York, NY, USA‎ - (888) 503-6739‎
Forex‎ - 40 Wall St # 4, New York, NY, United States‎ - (212) 847-1796‎
Gallant FX We Domesticate the Foreign Exchange!‎ - 50 Broad St, New York, NY, United States‎ - (646) 520-4530‎
Forex.com‎ - 44 Wall St, New York, NY, United States‎ - (877) 367-3946‎
Act Forex Inc‎ - 110 Wall St # 7-2, New York, NY, United States‎ - (212) 425-7111‎
Choice Forex Inc‎ - 89 E 42nd St, New York, NY, United States‎ - (212) 661-7600‎
Forex Hound‎ - 888 Main Street, New York, NY, United States‎ - (646) 591-1011‎
Choice Forex Inc‎ 1 review - 350 5th Ave, New York, NY, USA‎ - (212) 268-4525‎
International Forex Center - ifctraders.com‎ - 45th St. 11th, 228 E, New York, NY, USA‎ - (718) 395-7830‎
Forex Capital Markets LLC‎ - 11 Hanover Sq, New York, NY, United States‎ - (212) 825-1676‎
Forex Asset Management‎ - 48 Wall St, New York, NY, United States‎ - (212) 918-4597‎
Choice Forex Inc‎ - 401 W Broadway, New York, NY, United States‎ - (212) 966-7080‎
GFS Forex‎ - Ste 700, 48 Wall St, New York, NY, United States‎ - (212) 344-0181‎
Forex Capital Markets LLC‎ - 76 9th Ave, New York, NY, United States‎ - (212) 645-0102‎
FOREX Trading Systems‎ - 1841 Broadway, new york city, NY, USA‎ - (212) 586-6416‎
Japan Forex Research Inc‎ - 150 E 44th St, New York, NY, United States‎ - (212) 867-6331‎
Forex Trading Tools‎ - 75 Park Pl, New York, NY, United States‎ - (212) 791-3933‎
Zulu Trade forex Inc‎ - 48 Wall St, New York, NY, United States‎ - (703) 879-8961‎
Private Forex Trade Inc‎ - 245 Park Ave, New York, NY, United States‎ - (718) 427-4093‎
Choice FOREX Incorporated‎ - 43 W 42ND St, New York, NY, United States‎ - (212) 575-1150‎
Tullett & Tokyo Forex Inc‎ - 80 Pine St, New York, NY, United States‎ - (212) 514-8317‎
Choice Forex‎ - 899 Avenue of the Americas, New York, NY, United States‎ - (212) 268-8517‎
Forex Systems, LLC‎ - 50 Harrison St, Hoboken, NJ, United States‎ - (201) 610-9909‎
Forex‎ - 74 Myrtle Ave, Passaic, NJ, United States‎ - (973) 773-7113‎
Forex‎ - 561 W Side Ave, Jersey City, NJ, United States‎ - (201) 938-1500‎
Rabia Forex LLC‎ - 3904 43RD Ave, Sunnyside, NY, United States‎ - (718) 707-0688‎
Himmel Forex LLC‎ - 3904 43RD Ave, Sunnyside, NY, United States‎ - (718) 392-0247‎
Global Forex Services, Ltd‎ - 174 Cromwell Ave 2fl, Staten Island, NY, USA‎ - (646) 349-4997‎
Forex Club Financial Inc‎ - 1200 South Ave, Staten Island, NY, United States‎ - (718) 477-3710‎
Rada Forex LP‎ - 47 Victoria Road, Staten Island, NY, United States‎ - (718) 967-0900‎
Forex Capital Group Inc‎ - 713 Kennedy Blvd, North Bergen, NJ, United States‎ - (201) 770-0023‎
Euro-American Forex‎ - 125 Route 59, Monsey, NY, United States‎ - (212) 391-5218‎
Ny Forex Fund Inc‎ - 83 Cathedral Ave, Hempstead, NY, United States‎ - (516) 505-0150‎
Japan Forex Research Inc‎ - 1 James Way, Rye Brook, NY, United States‎ - (212) 867-6331‎
Mv Capital Forex‎ - 176 State Route 9, Englishtown, NJ, USA‎ - (732) 792-6720‎
International Forex Tech‎ - 8 Grigg St, Greenwich, CT, United States‎ - (203) 661-6070‎

Wednesday, August 1, 2012

Stocks Climb as Investors Await Fed - CNBC

Stocks are back in positive territory in what has been a volatile session for some individual stocks ahead of today's Federal Reserve policy announcement.

According to unconfirmed reports, the individual stock volatility was a result of an aggressive algorithmic trading program at Knight Capital Group [KCG Loading... () ]. Knight Capital would not confirm any problems to CNBC but a spokesperson said they are looking into trading issues.

The Dow Jones Industrial Average, S&P 500 and Nasdaq are all moving modestly higher.

DuPont [DD Loading... () ]is leading the blue-chip gainers, while Hewlett-Packard[HPQ Loading... () ] lags.

Telecoms and energy are the leading S&P sector gainers, while consumer staples lag.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, is trading below 19.

The Bank of England and the European Central Bank will announce interest rate and monetary policy decisions on Thursday.

After the S&P 500 rallied late last week on hopes the Federal Reserve and ECB will do more to stimulate growth, the index stalled over the past two sessions, shedding 0.43 percent yesterday, as investors await the policy announcements.

Equities finished July with the Dow up 1 percent, the S&P 500 up 1.3 percent and the Nasdaq gaining 0.2 percent.

According to Bespoke Investment Group, the market's performance on Fed days has been extremely strong. 37.6 percent of the equity market's gains since the Fed instituted its zero interest rate policy on December 16, 2008 have come on Fed days. "That means that nearly 40 percent of the market's gains since the end of 2008 have come on 3 percent of the trading days," Bespoke wrote in a report.

European shares are trading higher helped by some positive earnings announcements and hopes of stimulatory policy from the ECB and Bank of England. (Read More: US Raises Pressure for Euro Zone Crisis Action).

In economic news, Automatic Data Processing said July private sector employment increased by 163,000. The government's July jobs report is due out on Friday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.2 percent in the week ended July 27.

The Institute for Supply Management’s manufacturing index came in at 49.8 percent for July, versus expectations for a reading of 50.4 and a June reading of 49.7. A reading below 50 indicates a contraction.

Construction spending, meanwhile, rose 0.4 percent after a May increase of 0.9 percent.

“We think a moderate growth environment is going to be sustained in the U.S.," Bob Browne, Northern Trust chief investment officer, told CNBC. "The Fed is really focusing on avoiding recession. Whether they do something today, in August or in September, I think the markets really have to focus on that bias toward using monetary policy to keep the state of repair going.” Browne is overweight U.S. equities, underweight Europe and neutral on emerging markets.

Crude oil [CLCV1 Loading... () ] inventories fell by 6.5 million barrels last week versus a forecast for a 0.7 million barrel drawdown, according to the Department of Energy.

Chrysler Group reported that July U.S. auto sales increased 13 percent, the best July sales in five years. Ford Motor [F Loading... () ] said sales fell 4 percent during the month due to lower fleet sales, while General Motors [GM Loading... () ]saw a 6 percent decline.

Out of China, the country's official purchasing managers' index slid to an eight-month low of 50.1 in July from 50.2 in June, suggesting the manufacturing sector is barely growing. A rival HSBC survey indicated the more market-sensitive private sector is starting to recover.

Turning to earnings news, Comcast [CMCSA Loading... () ] posted a higher-than-expected quarterly profit as it benefited from customer additions for its Internet and phone services. Revenue rose 6 percent to $15.2 billion. Comcast is the majority owner of NBC Universal, the parent company of CNBC and CNBC.com.

Time Warner [TWC Loading... () ]reported lower net income on declines in its film, TV entertainment and publishing units. Revenue at the media giant fell 4 percent.

Mastercard [MA Loading... () ] posted better than expected second-quarter earnings but revenues came in weaker than anticipated.

Revenue rose 14.6 percent at motorcycle maker Harley Davidson [HOG Loading... () ], but missed expectations.

Costco [COST Loading... () ]reported net sales of $7.25 billion on a 7 percent jump in same-store sales.

Second-quarter earnings at Avon [AVP Loading... () ]plunged 70 percent on a 9 percent fall in revenue.

Nokia [NOK Loading... () ]shares surged in heavy volumes, with traders and analysts citing talk that Chinese PC maker Lenovo may be interested in the struggling Finnish cellphone maker. A Lenovo later quashed the market speculation it was interested in buying struggling Finnish cellphone maker Nokia.

Coming Up This Week:

WEDNESDAY: FOMC mtg announcement; Earnings from Green Mountain Coffee, Hartford Financial, MetLife, Prudential Financial, Yelp

THURSDAY: Jobless claims, factory orders, chain-store sales; Earnings from GM, Sony, Clorox, Teva Pharmaceuticals, Time Warner Cable, AIG, Kraft, Activision Blizzard, LinkedIn, Sunoco, Opentable, Zipcar

FRIDAY: Employment situation, ISM non-mfg index; Earnings from P&G, Toyota, Beazer Homes, NYSE Euronext, Berkshire Hathaway

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France Introduces Financial Transaction Tax - Sky.com

By Robert Nisbet, Europe Correspondent

France becomes the first country in the European Union to bring in a tax on financial transactions today.

It was first proposed by the former French President Nicolas Sarkozy who suggested a 0.1% levy on all share purchases involving France's biggest companies.

The country's new leader, Francois Hollande, has been sharply critical of the financial services industry and decided to double the tax to 0.2%, while applying it to all publicly traded businesses with a market value over 1bn euros.

That means anyone buying shares, including credit default swaps, in 109 companies will have to shell out the extra euros to the French Treasury.

In a speech in June, President Hollande said the money raised will be partly used to fund AIDS research and is expected to generate 170m euros in 2012 and 500m euros next year.

But this tax is more than just income generation. It has also been designed to curb market speculation and was initially suggested as a pan-European measure - a concept which drew criticism from the UK.

London is home to Europe's largest financial sector, contributing an estimated 10% to Britain's economic output.

Prime Minister David Cameron told other European leaders in May: "[Such a tax] will put up the cost of people's insurance, put up the cost of peoples' pensions - it will cost many, many jobs.

"It will make Europe less competitive and I will fight it all the way."

France's Socialist leader Francois Hollande was elected in May

Sweden also opposes the idea, after a disastrous experience with a similar tax on financial transactions was introduced and then abandoned in the 1980s by the government in Stockholm.

The country set a 0.5% levy on all purchases and sales of equity securities in 1984, and then doubled the amount two years later after disappointing revenues.

The policy was abandoned after analysts revealed it had led to an exodus of traders.

Anders Borg, the Swedish finance minister, estimates that "between 90-99%" abandoned Stockholm and took their business to London.

Mr Cameron argues that if any EU countries wanted to set up the tax unilaterally, or in partnership with other countries, they should feel free to do so - as it could drive more business to the UK.

Germany, Italy and Spain have all indicated they would like to set up a similar levy but have yet to do so.

Ally Financial reports loss on bankruptcy-related charge - Reuters UK

Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.

NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Stocks hold gains ahead of Fed - wcyb.com

NEW YORK (CNNMoney) -

U.S. stocks held gains early Wednesday, as investors took in the latest economic data ahead of the Federal Reserve's monetary-policy decision.

The Dow Jones Industrial Average was slightly higher in early trading. So were the S&P 500 and the Nasdaq.

The Fed wraps up its two-day meeting Wednesday, and is due to announce the outcome of its latest policy meeting at 2:15 p.m. ET.

Investors are hoping the central bank is moving towards some form of stimulus to jumpstart the slowing economy, but expect that it will hold off from more aggressive actions, such as a third round of bond buying, or QE3.

"They will probably change the language in their statement, and nothing else," said Dan Greenhaus, head equity strategist at BTIG. "That's the consensus right now."

The European Central Bank will take center stage Thursday, when its Governing Council meets in Frankfurt. Investors are hopeful that the ECB will announce some form of new action, after central bank head Mario Draghi said last week that the institution will do "whatever it takes" to preserve the euro.

"The Fed is of interest, but the main focus is on the ECB," said Greenhaus, adding that the outcome of Thursday's meeting is "highly uncertain."

Given the high expectations, investors have been reluctant to place big bets ahead of this week's central bank meetings.

Meanwhile, U.S. stocks closed down slightly Tuesday in another day of cautious trading ahead of the Fed meeting.

World markets: European stocks were mostly higher in afternoon trading. Britain's and France's CAC 40 rose 1.1%, while the DAX in Germany edged up 0.1%.

The gains came despite a spate of weak reports on manufacturing activity.

The Markit Final Eurozone Manufacturing PMI fell to 44 in July, a more than three-year low but roughly in line with forecasts. Manufacturing activity in the United Kingdom and Italy also slowed in July.

Asian markets ended mixed. The Shanghai Composite rose 0.9% and the Hang Seng in Hong Kong edged higher 0.1%, while Japan's Nikkei lost 0.6%.

There were conflicting signals about manufacturing activity in China in July. HSBC's PMI for the month came in at 49.3, up from 48.2 in June. While the slowdown in activity eased a bit, a reading below 50 still indicates a contraction.

However, figures from the government showed that manufacturing in China expanded slightly during the month, but slowed from June. The China Federation of Logistics and Purchases's PMI came in at 50.1 in July, down from 50.2.

Economy: U.S. private-sector employers added 163,000 jobs in July, according to a report from payroll-processor ADP. Economists had expected an addition of 125,000 jobs.

The Institute for Supply Management said its Manufacturing Index edged higher in July to 49.8 from 49.7 in June. Economists expected the index to come in at 50.1, according to Briefing.com.

The Census Bureau said construction spending rose 0.4% in June, compared with a forecasted 0.5% increase.

Data on auto and truck sales will also be released Wednesday.

Companies: Time Warner shares dipped after the media giant's reported reduced second-quarter revenue and earnings Wednesday despite improved results at its television networks unit. (CNNMoney is owned by Time Warner.)

Comcast reported better-than-expected earnings and sales figures for the second quarter, as the company added new customers for its Internet and phone services.

Shares of Avon Products fell after the company's second-quarter profit dropped 70% from a year ago and sales fell 9%, coming in below expectations.

Pharmaceutical company Allergan said earnings rose 21% in the second quarter from a year ago. It also announced plans to pay a quarterly dividend of 5 cents per share. The stock jumped 10%.

Harley Davidson shares sank 9% after the motorcycle maker reported sales growth that disappointed investors, even as profits rose.

Currencies and commodities: The dollar fell against the euro and Japanese yen, but gained ground versus the British pound.

US STOCKS-Wall St flat as unusual trading roils shares - Reuters UK

Wed Aug 1, 2012 3:41pm BST

* Several stocks paused for unusual trading

* Markets wait for Fed

* Indexes: Dow up 0.2 pct, S&P 0.13 pct, Nasdaq 0.0 pct (Recasts, adds details on trading)

By Chuck Mikolajczak

NEW YORK, Aug 1 (Reuters) - U.S. stocks were barely changed on Wednesday as the market became consumed with unusual trading that roiled seemingly unrelated shares on the NYSE.

Coming into the day, the market's main concern was the Federal Reserve, which at the conclusion of a two-day meeting later in the afternoon is likely to show it is ready to act to support a weakening U.S. economy but stop short of aggressive measures for now.

Stock-market traders, however, soon appeared more concerned with unusually volatile trading in a number of shares listed on the New York Stock Exchange, which resulted in the halt of several stocks that appear to be unrelated.

"I think that has disrupted all the normal activities - stocks are moving all over the place, they are weird, they are trading like millions of shares, 100 shares at a time, so something went haywire somewhere," said Stephen Massocca, managing director, Wedbush Morgan in San Francisco.

The trading sparked unusual activity in stocks such as Molycorp, which had traded more than 5.7 million shares in the first 45 minutes of trading. The stock usually averages about 2.65 million shares daily, and it was one of the stocks halted due to excessive volatility.

"How do you draw any conclusions (on the market) when something like this goes on? You just don't know, so the market is not operating efficiently," said Massocca.

Other traders called by Reuters said the unusual trading issues were their primary focus.

The Dow Jones industrial average gained 22.78 points, or 0.18 percent, to 13,031.46. The Standard & Poor's 500 Index gained 1.79 points, or 0.13 percent, to 1,381.11. The Nasdaq Composite Index gained 0.03 points, or 0.00 percent, to 2,939.55.

The Fed statement will come a day before a key meeting of the European Central Bank, after its president, Mario Draghi, heightened speculation of further ECB purchases of Italian and Spanish bonds by saying that he would do "whatever it takes to preserve the euro."

"We have the Fed today, the ECB tomorrow and everybody is waiting on central bank policy - right now the equity markets are being held together by easy money and if we don't get more of it soon we are likely to be disappointed," said Jack Ablin, chief investment officer, Harris Private Bank in Chicago.

"We are going to need a monetary booster shot both from Europe and the U.S. to keep this party going."

The S&P 500 posted its biggest two-day percentage gain of the year to close out last week on increased expectations both the Fed and the European Central Bank will plan further actions to stimulate their respective economies at the meetings this week. However, the index has stalled over the prior two sessions as it reached levels not seen since early May.

Data from payrolls processor Automatic Data Processing showed private employers added 163,000 jobs in July, topping economists' expectations for 120,000 new jobs. Investors may use the report to glean clues on the health of the labor market ahead of Friday's non-farm payrolls report.

Other major companies announcing results include Metlife , Prudential Financial Inc and Tesoro Corp . (Editing by James Dalgleish, Dave Zimmerman)

Wenger hits out at reckless spending of rivals as he warns of financial doom - Daily Mail

By Sportsmail Reporter

PUBLISHED: 03:32 EST, 1 August 2012 | UPDATED: 03:32 EST, 1 August 2012

Arsene Wenger has once again warned against the inevitable financial ruin faced by football and taken a swipe at rivals Manchester City and Chelsea.

The Frenchman, who has long fought against cash inequality in the game, believes the vast wealth foreign investors have poured into their respective clubs has damaged football and the transfer market.

Wenger is continuing to strengthen his own squad at a level below the likes of Chelsea, who have already lavished 32million on Eden Hazard and 25million on teenager Oscar. The Gunners, meanwhile, have added Lukas Podolski and Olivier Giroud for a combined 23m.

But while pointing to the vast income generated by Emirates Stadium, compared with Stamford Bridge and Etihad Stadium, Wenger claimed the unlimited resources of others have had a negative impact on the game.

Swimming up stream: Arsene Wenger continues to battle against cash inequality

Contract rebel: Robin van Persie

The Frenchman, in The Sun, said: 'We consider ourselves in a privileged position because we have a massive income. But overall we are not mega-rich because we do not have unlimited resources.

'A club can buy players like PSG has done or Manchester City or Chelsea, with unlimited resources, but overall football suffers. Look at the activity on the transfer market since the start of the summer.

'Europe at the moment is like the Titanic but we live in football like nothing matters. More than ever we have to run our club in a strict way because it looks like everybody suffers in Europe.

'I would be surprised if football is not touched by it at some stage. If you look at debt in football across Europe at the moment it is quite massive and we have to be responsible.

'We have to be ambitious but also make sure we are not getting in trouble financially.

Arsenal are currently negotiating.the terms of new contracts for Theo Walcott and Alex Song, while they were keen to tie Robin van Persie to a new contract before the Dutchman openly questioned the ambitions of the club last month.

'It is difficult for us because the wages in some other clubs are very high. But of course our players quite rightly compare themselves to the players of the other clubs.'

Here's what other readers have said. Why not add your thoughts, or debate this issue live on our message boards.

The comments below have not been moderated.

Did he mention his own £7million a year salary when complaining about huge wages in football? No, thought not.....

- Kurt F, Leeds, 01/8/2012 15:06

You only get so many breaths in your lifetime Arsene and this outburst was wasting some of them. At this moment in time its pointless to whine about 'the rich clubs'. Arsenal are right in the middle of the kitchen, the heat has been turned up, get on with it.

- Quest, Angmering, West Sussex, 01/8/2012 15:00

Mr. Wenger maybe you should worry about your own team and let the owners and management of the teams you supposedly mention worry about their respective teams. I not sure his advise is required.

- Louis (Nemesis of the prawn sandwich brigade), London, 01/8/2012 14:54

Well done all you proud City (1968) and Chelsea (1955 ) fans......you really have earned your recent plastic history

- Jeff, Portsmouth , 01/8/2012 14:54

Keep whining. Keep winning nothing. Oh yeah. love it.

- lifelong cfc supporter 1971, sth London, 01/8/2012 14:41

Wengers point is to simply spend what you can afford to spend. To spend what you earn. City and Chelsea do not spend what they earn. They spend the donatins charitably given to them by their opulent owners. If FFP is ever applied correctly, City and Chelsea wil suffer for it.

- harryb, manchester, uk, 01/8/2012 14:39

not an arsenal fan but wenger is spot on. man city chelsea and players agents are all whats wrong with the game nowadays!!

- andrew , northwich, 01/8/2012 14:38

Wind your neck Whinger... If he had the resource that Man City and Chelsea had then he wouldn't be moaning about the situation. Lets face it there is only one team in London - Chelsea and one in Manchester and that's City, so stop your bleating. - Better Dead Than Red, Manchester, Where Else?, 01/8/2012 13:11 Usual response from an Emptyhead Chav whose team have "bought" one title in 4 decades....and bought a whole squad of mercenaries that's why they all were wearing number 12s in May... At least Wenger has WON 3 Premier League titles at a fraction of the cost Chequebook City have bought ONE for!!!

- Keep The Red Flag Flying High, M16 0RA, 01/8/2012 14:37

the smart guy is already laying out his excuses before another barren season starts. we'll see who'll help them get their top 4 this year.

- Dre, London, England, 01/8/2012 14:34

It is the selling clubs that see the pound signs and hike the prices. Do you think the buying clubs WANT to pay 30% over the odds every time they make a purchase? This wasn't an issue for Wenger when Arsenal were one of the richest clubs, not so long ago. The guy is a grade 1 hypocrite. - mm, Gasimagusa, Cyprus, 01/08/2012 13:09 Oh no, another one who hasn't engaged the brain. Ask yourself this question. Do you really think that Wenger WANTS to sell his best players and see his team wrecked by clubs with monopoly money, doubling the wages and undermining the morale? As for your puerile comment about Arsenal being a rich club, I think you will find matey that Wenger tends to buy players we have never heard of for quite a reasonable price and then work his magic, RVP, Henry, Vieira, Clichy immediately spring to mind, the list is endless.

- wiseman, Chelmsford, Essex, 01/8/2012 14:27

The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.

Small business hiring, paycheck size dips again in Houston - The Business Journal

Small business hiring was flat nationwide and decreased slightly in Houston for the month of July, SurePayroll’s most recent Small Business Scorecard shows.

Month-over-month, small business hiring declined 0.2 percent nationwide and 0.6 percent in Houston. SurePayroll analyzed small business data from 35 major metropolitan areas, and 15 had positive hiring.

Pittsburgh again saw the largest decline in small business hiring, down 4.3 percent. The Raleigh-Durham, N.C., area had the largest increase, up 1.2 percent.

Nationwide, small business paychecks were down 0.2 percent, and Houston’s were down 1.2 percent. Charlotte, N.C., experienced the largest decrease in small business paycheck size, down 2.1 percent, while Detroit experienced the largest increase, up 1.6 percent.

In June, Houston had experienced a small reversal in hiring and paycheck growth compared to the decreases seen in previous months.

The optimism outlook increased slightly from 60 percent to 62 percent. And 70 percent of small business owners said they would encourage other entrepreneurs to start a business, despite the current economic climate.

The scorecard includes data from more than 35,000 small businesses and “exclusively reflects the trends of the nation’s ‘microbusinesses’ — those with an average of eight employees,” SurePayroll’s website states.

Olivia Pulsinelli is the web producer for the Houston Business Journal's award-winning website.

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Ally Financial reports $898M 2Q loss due to ResCap - AP - NBCNews.com

NEW YORK — Government-controlled auto lender Ally Financial Inc. posted an $898 million second-quarter loss Wednesday, tipped into the red by the bankruptcy of its mortgage subsidiary.

Ally took a $1.2 billion charge related to the Chapter 11 filing in May of Residential Capital, with its portfolio full of weak subprime mortgages.

The second-quarter loss compared with a profit of $113 million for the same period of 2011.

The company, which is based in New York, said it had a core pre-tax loss of $753 million compared with $465 million a year earlier. That reflects continuing operations before taxes and some expenses.

Aside from ResCap-related items, the lender said it earned $533 million of core pre-tax income for the quarter. The company, which was GMAC Financial Services before changing its name in 2010, cited strong performance in auto finance and direct banking franchises.

The U.S. government owns 74 percent of Ally, which it got in exchange for a $17.2 billion bailout in 2009. Ally eventually hopes to sell stock to the public to repay the debt. But an initial public offering is on hold while the company addresses its financial challenges.

ResCap has weighed the most heavily on the bottom line. Buyers of loans made by that subsidiary have lawsuits pending against the company, arguing that it should repurchase loans that did not meet its stated standards. When it filed for federal bankruptcy protection, the subsidiary also was facing upcoming loan maturities and steep bond-related payments.

CEO Michael Carpenter said the lender is now on an accelerated path to repay its remaining U.S. Treasury debt. He said the ResCap bankruptcy continues to move forward and the company is pursuing alternatives for its international operations.

Ally said its North American Auto Finance arm posted a 13 percent increase in pre-tax income for the quarter, to $631 million.

US STOCKS-Wall St rises after ADP, before Fed statement - Reuters

Wed Aug 1, 2012 9:49am EDT

* Fed likely to show readiness for action

* Construction spending, ISM manufacturing on tap

* Indexes up: Dow 0.4 pct, S&P 0.3 pct, Nasdaq 0.3 pct

By Chuck Mikolajczak

NEW YORK, Aug 1 (Reuters) - U.S. stocks opened higher on Wednesday after data on the labor market came in above expectations and ahead of the Federal Reserve's statement on the economy and the possibility of a n ew round of stimulus.

The Federal Reserve is likely to show it is ready to act to support a weakening U.S. economy but stop short of aggressive measures for now.

The Fed statement comes a day before a key meeting of the European Central Bank, after its president, Mario Draghi, heightened speculation of further ECB purchases of Italian and Spanish bonds by saying that he would do "whatever it takes to preserve the euro."

"We are going to need a monetary booster shot both from Europe and the U.S. to keep this party going."

The S&P 500 posted its biggest two-day percentage gain of the year t o close out last week on increased expectations both the Fed and the European Central Bank will plan further actions to stimulate their respective economies at the meetings this week. However, the index has stalled over the prior two sessions as it reached levels not seen since early May.

At 10 a.m., the Commerce Department releases June construction spending and the Institute for Supply Management releases its July manufacturing index. Economists in a Reuters survey forecast construction spending to rise 0.4 percent and a 50.2 ISM reading.

The Dow Jones industrial average gained 50.02 points, or 0.38 percent, to 13,058.70. The Standard & Poor's 500 Index rose 3.47 points, or 0.25 percent, to 1,382.79. The Nasdaq Composite Index climbed 10.06 points, or 0.34 percent, to 2,949.58.

Mastercard shares dipped 3.1 percent to $422.83 as one of the biggest drags on the S&P 500 after the world's second-largest credit and debit card processing network's quarterly revenue missed Wall Street estimates as worldwide purchase volume growth slowed to its lowest level in five quarters.

Phillips 66 climbed 3.2 percent to $38.79 after the largest U.S. independent refining company, posted a 14 percent jump in quarterly profit on stronger refining margins and chemical sales.

Harley-Davidson Inc lost 4.7 percent to $41.21 even after the company reported a better-than-expected 29.7 percent rise in quarterly profit, as its success in attracting young motorcycle buyers helped push sales higher.

Other major companies announcing results include Metlife , Prudential Financial Inc and Tesoro Corp .

According to Thomson Reuters data through Tuesday morning, of the 321 companies in the S&P 500 that have reported second-quarter earnings to date, 67.3 percent have reported earnings above analysts' expectations. Over the past four quarters, the average beat rate is 68 percent.

Tuesday, July 31, 2012

How mentoring can help a small business grow - The Guardian

I founded my production company Glasshead in 1994 with a view to delivering outstanding quality in television, media and – once the internet was upon us – digital content. Through hard work and persistence we built up a great reputation.

We have been very successful with factual programmes such as My Monkey Baby and The Stuttering School, both for Channel 4. We have also won two interactive BAFTAs, again for Channel 4, most notably for Homework High, a free online service for kids, which also won two BIMA awards.

Our team at Glasshead is highly motivated and very talented. Fulfilling the role of managing director, I was very confident with the quality of creative work the company was doing. However, after we got our feet off the ground, I was concerned that my lack of business background was holding the company back and would prevent us from reaching our full potential.

I heard about a mentoring programme being run by Nesta which was targeted at creative companies like mine. With an impressive lineup of well-known names in the industry as mentors, the opportunity was too good to turn down. I applied with the aim of creating a more formal plan and a clear structure for the day-to-day practices of the company.

After successfully making it onto the programme, we were paired up with mentor Alex Graham, who is CEO of Wall to Wall TV and one of the leading producers of factual and drama-based content.

Mentoring in action

After our first meeting we decided to focus on managing and expanding the business, as well as improving various business processes in the company.

The mentoring relationship worked extremely well. I would usually set the agenda for our meetings, and Alex then worked through this, offering advice and comments that would result in a set of actions for me to complete.

Going through the day-to-day activities with Alex really opened my eyes to aspects of the business that perhaps I didn't pay enough attention to before. For example, I started to make better use of management information – such as company accounts and reports – to help inform strategic decision-making.

Talking to Alex also helped me target priority markets. We started the mentoring programme before the recession hit but even then, there were signs that the economy wasn't heading in the right direction so we identified other potential markets. Alex encouraged me to attend various events in other markets, including Realscreen in Washington, and gave me strategies to make contacts and find potential new avenues of work – all of which proved immensely useful.

The results

As a result of implementing the various strategies and Alex's mentoring, we have worked with five new major clients in the past couple of years including Discovery, Al-Jazeera, CBBC and currently BBC World. Like many other companies our size, we have been affected by the economy and government cuts but I can honestly say that without the mentoring programme it could have been a very different story. We're in business because we diversified at the right time.

One possible growth area for us is animation, where we're working closely with Cosgrove Hall Fitzpatrick Entertainment looking for alternative funding models for future content. As we've been shortlisted for two children's BAFTAs for our previous animation work, this feels like a good fit.

My tips for running a business

As Alex used to constantly tell me; running a media business isn't brain surgery. Make sure you employ people who can sell ideas, in addition to hiring excellent creative staff. Relationships with clients are key so continuously work on that.

Always keep an eye on your overheads and don't delay in reducing them if the projects are slow in coming in. Set budgets, objectives and goals and then break them down to day to day tasks to make them manageable and achievable. Base important company decisions on information from management accounts and cashflow.

Finally, it's important to combine artistic satisfaction and profitability; this can be accomplished by using commercial projects to fund creative work.

Lambros Atteshlis is MD of TV and digital specialist Glasshead

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London 2012: French Olympics 'would be interested in gold not money' says Francois Hollande - Daily Telegraph

Highlighting the fact that his Socialist government detested corporate greed and was solely interested in winning medals, Mr Hollande said: "We don't talk of money, we talk of gold."

Mr Hollande stopped short of directly criticising the British, however, saying: "The London Olympics have been very well organised. I'm not here to be a killjoy or to give lessons to the British. It's not worthy of France."

But Mr Hollande made it clear that he disapproved of corporate clients being given free tickets which they did not use.

Most of the events in London have, so far, been blighted by rows of empty seats.

Mr Hollande also enjoyed a joke at the expense of Prime Minister David Cameron, who had promised to roll out the "red carpet" for French people escaping high taxes.

Pointing to the fact that France was currently beating Britain in the medals table, Mr Hollande said: "The British have rolled out a red carpet for French athletes to win medals. I thank them very much for that, but the competition is not over."

In another dig – this time at the Euroscepticism of Mr Cameron's Conservatives – Mr Hollande also said that "it is the results of Europe that will count in the games.

"We will put the French medals into the Europe pot, so that the British will be happy to be European."

Before losing 2012 to London, Paris failed to win the 2008 Games, which were awarded to Beijing.

Mr Hollande, who replaced the conservative Nicolas Sarkozy as French president in May, attended a number of events involving French athletes on Monday, before returning to Paris.

France has had a successful Olympics so far – with seven medals, including three gold in the pool. Mr Hollande on Monday night watched Yannick Agnel defeat American Ryan Lochte in the 200m freestyle.

MONEY MARKETS-Hopes of ECB bond buying underpin trade - Reuters

Tue Jul 31, 2012 7:59am EDT

* Hopes high ECB will restart bond buying this week

* Only limited relief seen from such a move

* Market prices in 50 pct chance of rate cut by year-end

By Kirsten Donovan

LONDON, July 31 (Reuters) - Markets are pricing in around a 50 percent chance that the European Central Bank will cut interest rates again this year but are likely to react badly if they have to wait longer than a couple of days for it to revive its bond-buying programme.

ECB President Mario Draghi said last week the ECB would do "whatever it takes", spurring expectations that the central bank will reactivate the Securities Market Programme (SMP) at Thursday's policy meeting.

The SMP - which the Bundesbank opposes - has been dormant for months but would be used to buy Spanish and Italian bonds in the secondary market.

The prospect of this has pushed yields on bonds issued by the two struggling countries sharply lower, but the rally is showing signs of running out of steam.

"Some of the confidence generated by Draghi is already fading - you can see that in the fall in Bund yields today," said BNP Paribas rate strategist Matteo Regesta.

"To make sure the relief rally we've seen is not further interrupted, at the very least we need a reactivation of the SMP. An interest rate cut by itself would fall short of what the market is expecting.

Money markets aren't expecting a cut in either of the ECB's two main interest rates this week, or the "bazooka" option of granting the euro zone's rescue fund a banking license, allow it to exchange bonds it buys for fresh cash from the ECB.

The main refinancing rate is at 0.50 percent, while the deposit rate paid to banks who park cash overnight is at zero. A cut in the deposit rate is increasingly priced in from September onwards, which would mean it would turn negative.

"Speculation may be overdone," said Commerzbank rate strategist Benjamin Schroeder.

"There are complications with negative rates but with the comments from the ECB members, the speculation could still run further."

The overnight Eonia rate, which is currently around 10 basis points above the deposit rate, is indicated at around 2 basis points by year-end, suggesting a deposit rate of around minus 10 basis points.

PROMISES

Financial markets are looking for a clear policy response from Draghi at the ECB's Thursday policy meeting .

Nineteen of 24 euro money market traders polled by Reuters said the ECB will soon resume bond buying.

"The bar has been raised very high for the ECB to deliver something," Schroeder said.

But analysts said even another round of bond buying would be unlikely to stabilise markets in the longer term, although it might ease the next few weeks combined with a sharp drop in new bond issuance over the summer period.

"It won't offer lasting relief, but it would allow August to be relatively stable," BNP Paribas' Regesta said.

"The real bazooka, even without activation, would be to grant the (euro zone rescue fund) a banking license... Just the presence of this vehicle with unlimited firepower would bring some peace to primary and secondary markets but we're not going to get that this week." (Editing by John Stonestreet)

My parents never have any money - should I get a job? - The Sun

I HAVE just finished my first year in the Sixth Form but I’ve failed two out of my three subjects.

I’d love to go back and try again but I just can’t concentrate. My parents have no money and are constantly in debt, so I’m worried about it all the time.

I’m a boy of 16 and all my life my parents have struggled with money. My mum is on the minimum wage and my dad works long hours for low pay.

My parents have always taken out loans to buy things for Christmas and birthdays. One December I found my mum out in the cold in the back garden crying about money.

My parents inherited a large amount of money when my Nan died. They paid off all their debts and got a better car. It was the best time in my life. I even forgot what it was like not to have any food or drink in the house for over a week.

Now that money is all gone. I don’t know how they have managed to spend it all but they have.

My parents are borrowing money again from family and friend just to pay off debts but then they owe even more.

My mum loves playing bingo. She spends at least £40 a week playing online and goes out to bingo twice a week and spends between £40 and £60.

It’s horrible at school. I live in a poor area but my school is in a wealthy area and it gets on my nerves to see everyone else dressing in nice clothes and with money all the time.

I want to drop out of education and get a full-time job, but I don’t like the thought of working five or six days a week for minimum wage for the rest of my life, like my parents.

DEIDRE SAYS

Go back to your school and ask to talk to the head of sixth form about whether you could return and do resits. I know it’s school holidays now but you should be able to get hold of someone.

Explain what’s been going on at home and how worried you are. They should be able to give you some support, and a quiet place to study away from the problems at home.

If you can’t go back, look for a job which involves training at the same time as being paid. Your local Job Centre can tell you about apprenticeships and other opportunities.

Get your dad on his own and explain that you think your mum needs help with her addiction to bingo. I’m emailing my leaflet about living with a gambler for you to pass to him.

You also need support for yourself. Get Connected will help you sort this out (0808 808 4994, www.getconnected.org.uk).

Good luck and please let me know how you get on.

Today's Daily Drama is about a woman who cheated on her fella with her friend's boyfriend. Do you think you should always confess if you’ve cheated or does honesty mean more heartache? Tell me on my Facebook page today.

Money well spent: Teenager who fell over while carrying Olympic torch is bought a new prosethetic limb by Britain’s biggest Euromillions winners - Daily Mail

Kieran Maxwell had his left leg amputated after getting rare and aggressive cancer Ewings Sarcoma
Last month while walking with his current prosthetic limb he fell while carrying the Olympic torch
Euromillionaires Colin and Chris Weir pay five-figure-sum for a new lightweight leg for the 13-year-old
'He'll be able to walk, run and climb just like his friends,' his emotional mum Nicola said today

By Martin Robinson

PUBLISHED: 07:07 EST, 31 July 2012 | UPDATED: 14:50 EST, 31 July 2012

A 13-year-old who lost a leg to cancer will get a new life-changing prosthetic limb from Britain's biggest-ever lottery jackpot winners.

Heartrendingly Kieran Maxwell had to be helped from the ground after he fell carrying the Olympic torch last month in Bishop Auckland, County Durham, because of his current heavy artificial leg.

But now he will be able to 'walk, run and climb just like his friends,' his emotional mother Nicola said today, thanks to Euromillionaires Colin and Chris Weir.

Scroll down for video

Brave: Kieran Maxwell carrying the Olympic Flame on the Torch Relay soon before he stumbled and fell because of his current prosthetic leg but hopefully those problems will soon be over for him

Despite undergoing gruelling chemotherapy the brave 13-year-old had his left leg amputated below the knee in March last year.

He was diagnosed with the rare and aggressive cancer called Ewings Sarcoma, which affects fewer than 30 children a year, in October 2010.

Since then Kieran has been determined to remain active but his current replacement limb is heavy and slows him down, so his parents Nicola and Alistair decided to try to raise the cash to buy him a lighter model from the US.

But Euromillions winners Colin and Chris Weir from Ayrshire - who scooped 161 million in a draw a year ago - heard about Kieran's battle and stepped in with a five-figure donation to buy the new leg outright.

And Kieran is said to have 'screamed with delight' at the life-changing news and will have his leg within six weeks.

The unexpected donation came after the grandmother of Kieran’s school friend, who lives in the same village as the Weirs, contacted them to ask if they could help.

Happy: EuroMillions lottery winners Chris Weir and her husband Colin Weir say it is a privilege to spend a little of their 161m on Kieran

Hero: His mother and family are incredibly proud of the happy teenager who lost a leg to cancer but will now get a new limb

Mum Nicola Maxwell said: 'Kieran is our hero and we have been touched by all the support and kindness we’ve received since he was diagnosed with cancer.

'We thought it was going to take a long time to raise the money for a new prosthetic leg, but this donation from Chris and Colin means Kieran can get his new leg within six weeks. We can’t explain how much this means to us and Kieran.

'He screamed when he heard the news because it means that not only will he be able to walk again like all his friends, he will be able to run and climb too.

'We can’t thank the Weirs enough, because this will really change his life.

Heartbreaking: Kieran's bravery was clear for all to see when he fell while holding the Olympic torch because of his current artificial limb. He got up and dusted himself off in yet another incredible show of strength

'Kieran started yelling and dancing around when he heard. He couldn't believe it. I am still pinching myself.

'What they have done for Kieran will be a small drop in the ocean for them but for him it will change his life.

'He can go back to being a normal boy. He can be himself. Words cannot describe what they have done.'

The Lottery winners paid tribute to his bravery and said it was privilege to help.

Mrs Weir said: 'When we heard about Kieran and his family’s fantastic efforts to raise money for a new prosthetic leg, we had to help.

'It is a privilege to support him and, with this new leg, we hope he will continue to be determined to remain active and live life to the full.'

Kieran's parents will continue to fundraise, but will now hand over proceeds to the Toma Fund, which helps teenagers with cancer.

Here's what other readers have said. Why not add your thoughts, or debate this issue live on our message boards.

The comments below have been moderated in advance.

Aww how lovey :-)

- Charlotte, UK, 31/7/2012 19:37

Nice to see such kindness being displayed. How much they won and how much they donate is irelevant. To Kieran's family it is priceless.

- Keith W, Newcastle, 31/7/2012 19:37

Great gesture...very kind..

- DJ, Edinburgh, 31/7/2012 19:35

If money can buy you everything,then this lovely couple deserve the world! To share there luck like they have, i wish you every happiness x

- elaine, lincs, 31/7/2012 19:35

Restores your faith in some folk. Heartwarming to see...

- Kenny, Kent, 31/7/2012 19:31

what a wonderful selfless gesture to make to a wonderful, inspirational young boy. big,big smiles all round even from my grumpy teenage kids :-))

- aj, england , 31/7/2012 19:28

There really are some lovely people in this world.

- im no superman, Dublin, 31/7/2012 19:28

How kind and wonderful.xxx

- looking for sunshine, sussex, 31/7/2012 19:27

I hope the people who have millions and live useless meaningless lives take a tip from this lovely couple, help people instead of wasting millions on the nonsense you think are important like cars and clothes.

- Steve, East Kilbride, 31/7/2012 19:27

Good news and hope they do more good deeds

- Jane, Staffordshire, 31/7/2012 19:27