This Week’s Business and Finance News

The EUR fell against the USD and the JPY

chief — Mon, 05 Jan 2009 15:08:17 +0000

The EUR fell against the USD and the JPY
Happy New Year and welcome to our first Daily FX Report in the New Year. This will be a very hard year for the financial markets while all the countries around the world fear more and more bad news from the economic data. However we wish you a nice trading start in this year and hope for successful trades. Market review The EUR fell against the USD and the JPY before today a European manufacturing report is expected to show the recession is deepening in the 16-nation region. Europe’s

Safe Havens Are So Last Year: Treasuries Slide

chief — Mon, 05 Jan 2009 07:03:28 +0000

Safe Havens Are So Last Year: Treasuries Slide
Despite weak manufacturing data, investors seemed ready to venture back into the stock market, raising yields in the bond market.

Treasury bond funds proved the investment to beat in 2008
A scan of fourth-quarter and full-year results for bond mutual-funds offers few surprises: Lower-risk Treasury-backed debt whipped most fixed-income categories, while company-issued bonds and more daring overseas debt suffered a similarly grim fate as stocks.

The basics: Know your bond funds

Stocks Rally into the New Year

chief — Mon, 05 Jan 2009 07:03:19 +0000

Stocks Rally into the New Year
Stocks Rally into the New Year U.S. Dollar Trading (USD) stock markets rallied but economic data kept the USD weak. Stocks reacted positively to news that GM would receive $6bn for its car financing arm from the TARP. December Consumer Confidence fell to 38 vs. 45 expected a new all time low. Case Shiller fell -2.2% in October vs. a milder -1.8% forecast. In U.S. share markets, the NASDAQ was up 40 points (2.67%) and the Dow Jones was up 184 points (2.17%). Crude Oil closed down -$0.99

Market Snapshot: Stock rally to test its sticking power as traders return to work
Like so many New Year’s revelers, the U.S. stock market may try to stick to its resolutions — and fail miserably.

Avoiding steep IRA fees

chief — Mon, 05 Jan 2009 07:03:15 +0000

Avoiding steep IRA fees
Question: My adviser charges me between 5% and 6% of what I invest in the mutual funds for my IRA. He says this fee is extremely fair to me. But I previously had an IRA for which I paid only $20 a year. What is an acceptable fee for an IRA? –Teresa Nagengast, Deptford, New Jersey

FundWatch: In a bad year these funds were the worst, down more than 60%
Investors reeling from the 39% fall in the Standard & Poor’s 500 Index this year should console themselves that it could have been worse: three of the worst mutual funds of 2008 have racked up losses of more than 60%.

Turning savings into income
Where baby-boomers go, the financial services industry follows. Too large, at 77 million people, and too affluent to be ignored, this group has been heavily wooed at every stage of life. Now, as the oldest boomers begin leaving the workforce, Fidelity and Vanguard have launched mutual funds aimed at retirees who are making the transition from saving to spending.

Revealed - Million Dollar Forex Investing Mistakes

chief — Mon, 05 Jan 2009 07:02:55 +0000

Revealed - Million Dollar Forex Investing Mistakes
Anytime that you are investing in the Forex market, you are going into the Market…

Forex Trading Incorporating Price Behavior Into A Forex Trading System
What has price action and price action got to do with your forex trading stategy?…

The 4 Wheels That Take A Forex Trader To Success
People hear about forex and they run and buy courses and eBooks for heavy money.They…

Austria Appoints Overseer at Bank in Madoff Case

chief — Mon, 05 Jan 2009 07:02:39 +0000

Austria Appoints Overseer at Bank in Madoff Case
The move to name a supervisor to the board of Bank Medici is the first known case where a government has had to step in to help a bank cope with the Madoff fraud.

Feds Sell Off Failed IndyMac For $13.9B
Federal regulators say a group of investors has teamed up to buy the remnants of failed lender IndyMac Bank for $13.9 billion.

Flowers, Soros, Michael Dell team to buy IndyMac
WASHINGTON — A seven-member investor group including billionaire George Soros and Dell Inc. founder Michael Dell have agreed to purchase failed lender IndyMac Bank, one of the largest casualties of the housing bust, for $13.9 billion.

Selling at a Loss Can Help Your Tax Bill

chief — Mon, 05 Jan 2009 07:02:34 +0000

Selling at a Loss Can Help Your Tax Bill
It has been a terrible year for the stock market, but there may be a consolation prize in it for some investors: a tax loss that can help them offset their income.

Investors Flee Stock Funds
The bubble pops. Stock markets tumble. Investors flee.

Tech stocks trading mixed as broader market edges up

SAN FRANCISCO (MarketWatch) - Technology stock trading was mixed Friday morning as the broader market kicked off 2009 with a modest gain. The Nasdaq Composite Index and the Morgan Stanley High Tech 35 Index were mostly flat. The Philadelphia Semiconductor Index was behind 0.7% after the Semiconductor Industry Association reported that November chip sales fell nearly 10%. The Dow Jones Industrial Average was up about 30 points.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Wall St closes out worst year since Depression

chief — Mon, 05 Jan 2009 07:02:04 +0000

Wall St closes out worst year since Depression
NEW YORK (Reuters) - Wall Street closed out its worst year since the Great Depression on Wednesday after an unstoppable credit crisis and a dreadful economic outlook left investors questioning their faith in stock markets.

How high earners can grab a Roth IRA

chief — Mon, 05 Jan 2009 07:01:51 +0000

How high earners can grab a Roth IRA
Paul Heck owns EveryHome, A successful real estate brokerage in suburban Philadelphia. The 53-year-old never considered making a Roth IRA part of his retirement plan. While Heck understands the substantial tax advantages of a Roth, he makes too much money to qualify. Recently, however, he got a tip from his financial planner about an upcoming change in the tax law that will allow Heck - and many other business owners - to seize a back-door opportunity to open a Roth.

Financial Tips For 2009
The financial markets are in upheaval and many investors are not sure what to do next. Financial advisor Jill Schlesinger has some tips to navigate these turbulent times.

AeroScout Debuts GPS/Wi-Fi Tracking at U.S. Air Base

chief — Mon, 05 Jan 2009 07:01:48 +0000

AeroScout Debuts GPS/Wi-Fi Tracking at U.S. Air Base
AeroScout Inc. has unveiled a combination GPS and Wi-Fi asset management system that has been selected by the U.S. Air Force 309th Aerospace Maintenance and Regeneration Group (AMARG) for its 110 million-square-foot outdoor facility at the Davis-Monthan Air Force Base in Arizona.

World Business Briefing | Europe: Switzerland: Credit Suisse to Sell Stake
The Swiss bank agreed to sell a stake in its global investors business to Aberdeen Asset Management for 250 million British pounds ($361 million) in stock after losses at the unit.