slib33 NEWS TICKER: FRIDAY NOVEMBER 14TH 2014: Freddie Mac yesterday released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates little changed from the previous week with the 30-year mortgage still hovering around 4%. Fixed mortgage rates were slightly down on mixed results from Octobers employment report. While the unemployment rate declined to 5.8 percent, nonfarm employment rose by 214,000 jobs, which was below consensus expectations. Net revisions for payroll employment in August and September added 31,000 more jobs to the initial readings. A 30-year fixed-rate mortgage (FRM) averaged 4.01%t with an average 0.5 point for the week ending November 13th down from last week when it averaged 4.02%. A year ago at this time, the 30-year FRM averaged 4.35%. One-year Treasury-indexed ARM averaged 2.43% this week with an average 0.4 point, down from last week when it averaged 2.45%. At this time last year, the 1-year ARM averaged 2.61% - Dutch pension funds should ask the European Commission to be treated as first-pillar schemes if they want to be exempt from new pensions legislation, Francesco Briganti, director of the European Association of Paritarian Institutions (AEIP), has argued. Responding to questions from the audience at the recent World Pension Summit, Briganti said the Commission would, in principle, be unable to refuse such a request, and that the procedure would not even require Brussels’ permission - The European Bank for Reconstruction and Development (EBRD) will hold a ceremony today to mark the completion of Phase III (2010-14) of advisory support to small and medium-sized enterprises, funded by the government of Switzerland. Over the course of Phase III (2010-14) the EBRD has helped over 400 SMEs in the Kyrgyz Republic to access business advice to transform their businesses, committing over €2.6m in funding and exceeding the target of 280. The EBRD has drawn on the know-how of a network of local consultants to help transform a wide range of businesses, looking at areas including strategy, marketing, operations, quality management, energy efficiency, financial management and beyond - Indias inflation dropped to a new multi-year low in October, helped by slower annual rises in food and fuel prices, intensifying pressure on the central bank to cut interest rates to encourage spending and investment needed to boost growth. The wholesale price index rose an annual 1.77% last month, its’ slowest since September 2009, compared with the 2.20 percent forecast by economists in a Reuters poll. Fridays data comes days after India reported consumer price inflation had dropped to 5.52% in October, below the Reserve Bank of Indias (RBI) 6% target for January 2016 - The hits just keep on coming in Brazil. State controlled energy giant Petrobras says it will report results December 12th instead of today. Petrobras is also caught in alleged money laundering and kick-back schemes, involving politicians and contractors - Nordic Capital-backed Thule Group, the cargo carrier company, has set a price range of SEK 64–SEK74 per share, giving the group a market cap of between SEK6.4-SEK7.4bn. The company expects to list on the Stockholm stock exchange on November 26th. Thule will float approximately 26.1% of the total number of shares in the company, with an overallotment option. Nordic Capital Fund VI and VII currently own around 92.3% of Thule, but the remaining shareholders will also sell part of their stake, reducing their ownership on a pro-rata basis. The exit, announced earlier in November, comes seven years after the GP acquired Thule from UK private equity major Candover for €1.3bn in 2007. Goldman Sachs, Morgan Stanley and Nordea Bank are joint global coordinators and joint book runners, with Danske Bank and DNB Markets co-lead managers. News Asset Allocation Sectors China Technology 0 0 0 font decrease font size increase font size Print China to overtake US science & tech spend by 2019, OECD says Thursday, 13 November 2014 Squeezed R&D budgets in the EU, Japan and US are reducing the weight of advanced economies in science and technology research, patent applications and scientific publications and leaving China on track to be the world’s top R&D spender by around 2019, according to a new OECD report.The OECD Science, Technology and Industry Outlook 2014 finds that with R&D spending by most OECD governments and businesses yet to recover from the economic crisis, the OECD’s share in global R&D spending has slipped from 90% to 70% in a decade. Annual growth in R&D spending across OECD countries was 1.6% over 2008-2012, half the rate of 2001-2008 as public R&D budgets stagnated or shrank in many countries and business investment was subdued. China’s R&D spending meanwhile doubled from 2008 to 2012. Gross domestic expenditure on R&D (GERD) in 2012 was $257b in China, $397bn in the United States, $282bn for the EU28 and $134bn in Japan. The report warns that with public finances still tight in many countries, the ability of governments to compensate for lower business R&D with public funding, as they did during the worst of the economic downturn, has become more limited. In 2012 R&D spending surpassed $1.1trn in OECD countries and stood at $330bn in the BRIICS (Brazil, Russia, India, Indonesia, China and South Africa). Korea became the world’s most R&D intensive country in 2012, spending 4.36% of GDP on R&D, overtaking Israel (3.93%) and versus an OECD average of 2.40%. - See more at: ftseglobalmarkets/news/china-to-overtake-us-science-tech-spend-by-2019-oecd-says.html#sthash.d8zn2OCD.dpuf
Posted on: Sun, 16 Nov 2014 01:26:10 +0000
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