Wednesday, January 30, 2013

Italian, European car markets have not hit bottom: Fiat CEO

GRUGLIASCO, Turin (Reuters) - Italian carmaker Fiat Chief Executive Sergio Marchionne said on Wednesday that the Italian and European car markets have perhaps not yet hit bottom and will slump for the sixth year in a row in 2013.

"The Italian and European car markets are in a free fall and perhaps have not yet hit bottom," said Marchionne, who is also the chief executive of Chrysler, at the opening of a new factory outside Turin.

Italian car sales are seen falling about 25 percent in January from the same month a year ago when figures are released on Friday, continuing last year's slump to the lowest level in over 30 years.

(Reporting by Gianni Montani, writing by Jennifer Clark, editing Francesca Landini)

Source: http://news.yahoo.com/italian-european-car-markets-not-hit-bottom-fiat-090504842--finance.html

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Fed likely to stick to low-rate message this week

In this Monday, April 4, 2011, file photo, Federal Reserve Chairman Ben Bernanke addresses a financial markets conference meeting, in Stone Mountain, Ga. Ben Bernanke's term as chairman of the Federal Reserve expires one year from Thursday, Jan 31, 2013, Sometime between now and then he's likely to take his foot off the gas pedal of financial stimulus that is helping to fuel the still-weak U.S. recovery and begin tapping on the brakes. (AP Photo/David Goldman)

In this Monday, April 4, 2011, file photo, Federal Reserve Chairman Ben Bernanke addresses a financial markets conference meeting, in Stone Mountain, Ga. Ben Bernanke's term as chairman of the Federal Reserve expires one year from Thursday, Jan 31, 2013, Sometime between now and then he's likely to take his foot off the gas pedal of financial stimulus that is helping to fuel the still-weak U.S. recovery and begin tapping on the brakes. (AP Photo/David Goldman)

WASHINGTON (AP) ? When the Federal Reserve meets this week, it's likely to affirm a message it intends to help lift the economy: that consumers and businesses will be able to borrow cheaply well into the future ? even after unemployment has dropped sharply.

Last month, the Fed signaled for the first time that it will tie its policies to specific economic barometers. It said that as long as the inflation outlook is mild, it could keep short-term rates near zero until unemployment dips below 6.5 percent from the current 7.8 percent.

That could take until the end of 2015, the Fed predicted last month.

The Fed's guidance was designed to give consumers, companies and investors a clearer sense of when super-low borrowing costs might start to rise. Though some key sectors of the economy are improving, analysts think the Fed still feels more time is needed for low rates to spur borrowing, spending and economic growth.

One reason is that many Americans remain anxious about the budget impasse in Washington.

"The Fed is dealing with a lot of uncertainty right now, with all the decisions still to be made on federal budget policy," said Diane Swonk, chief economist at Mesirow Financial, who expects the Fed to make no changes in its support programs when its two-day policy meeting ends Wednesday.

At its December meeting, the Fed said it would keep spending $85 billion a month on bond purchases to keep long-term borrowing costs down. It will continue its bond purchases until the job market improved "substantially."

When it buys bonds, the Fed increases its investment portfolio and pumps more money into the financial system ? something critics say could eventually ignite inflation or create dangerous bubbles in assets like real estate or stocks.

On Friday, when the government will release its jobs report for January, unemployment is expected to remain 7.8 percent. That still-high rate, 3? years after the Great Recession officially ended, helps explain why the Fed has kept its key short-term rate at a record low near zero since December 2008, just after the financial crisis erupted.

In a speech in Ann Arbor, Mich., this month, Chairman Ben Bernanke said he thought too little progress had been made in reducing unemployment and signaled that the Fed's aggressive support programs should continue.

"There is still quite a ways to go," Bernanke said of the unemployment crisis. "There are too many people whose skills and talents are being wasted."

Still, some private economists think the Fed will decide to suspend its bond purchases in the second half of this year. They note that the minutes of the Fed's December meeting revealed a split: Some of the 12 voting members thought the bond purchases would be needed through 2013. Others felt the purchases should be slowed or stopped altogether before year's end.

On one point, economists agree: Once the Fed does decide to scale back its stimulative policies, it will signal its intent well before it actually does so. Policymakers will want to blunt the shocks that could reverberate through financial markets, which have been heavily influenced by the loose-credit policies the Fed has engineered for more than four years.

Interest rates have sunk to record lows. And stock prices have risen as many investors have shifted money into the stock market in search of better returns.

"Nothing will change at this meeting, but as time goes on, I think the Fed will begin laying the groundwork for changes," said Sung Won Sohn, an economics professor at the Martin Smith School of Business at California State University.

Once the Fed does tighten its interest-rate policy, it will inevitably jolt the markets, however much it tries to ease the impact, predicted David Jones, chief economist at DMJ Economic Advisors.

"The second the Fed gives a hint that they are in any way being less accommodative, we will see interest rates shoot higher and stock prices fall," Jones said.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-01-29-Federal%20Reserve/id-1d1a0acb704b425ab00178711a7567c2

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Tuesday, January 29, 2013

TSX may open higher on brighter economic prospects

(Reuters) - Canadian stock index futures pointed to a higher open on Monday, mirroring expected Wall Street gains, after recent global economic data suggested the world's biggest economies are on their way to recovery.

TOP STORIES

Caterpillar Inc reported a 55 percent drop in quarterly profit as customers sold off existing inventories rather than buy new machines.

Yield-hungry investors bought 6.63 billion euros of two new Italian bonds at an auction, just less than the top-targeted amount, shrugging off uncertainty ahead of next month's election.

Nordion said it has initiated a review of its strategic alternatives, almost four months after it suspended its dividend as an arbitration panel rejected its claim for damages from its main supplier.

Japan's government stepped in to give Boeing Co's now-grounded 787 Dreamliner and its made-in-Japan technology a boost in 2008 by easing safety regulations, fast-tracking the rollout of the groundbreaking jet for Japan's biggest airlines, according to records and participants in the process.

Toyota regained the crown as the world's top selling automaker in 2012, posting record-high sales and beating rivals General Motors and Volkswagen.

Loans to companies and households in the euro zone contracted for the eighth month running in December, showing low official borrowing costs are having little success in reviving investment and spending.

(Reporting by Chandrashekhar Modi; Editing by Jeffrey Hodgson)

Source: http://news.yahoo.com/tsx-may-open-higher-brighter-economic-prospects-135641506--finance.html

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Storage Is a Major Part of Home Improvement

When you are going to consider your options in home improvement you may want to look at your storage and cabinets that you have throughout your home. Consider things such as bookcases and end tables. Look at all of the different ways you can use them to help to bring a room to life and to improve the overall design and layout of any space.

Bookcases

Bookcases can be a big part of the overall design of a home you can use them for a number of different things and in a number of different ways to help with home improvement. Carefully consider where they will go and what you will use them for. They can work as tools to help with many different things and will allow you to get a lot more out of your room and create lot of space after increasing the storage capacity. Make sure that what you use will work with the overall design of the room and that it will make sense. Whether it is to help organize a study or to help eliminate the clutter in a child?s room, consider the different sizes and options that you have to help put it all together.

Desks

Desks can be the perfect accents and starting pieces for any new room you are looking to remodel. You can use this as the perfect way to start a home improvement project. Look at the different styles, sizes, and materials you can use and make it something that will create a new focus for the entire room. Consider the following options. For an artist?s or architect?s studio, a drafting table would be most appropriate. For an executive, a large, distinguished piece will fit the bill. For an academic study, something more modest will do the trick, but preferably with a reading lamp. In a kid?s room, a small, colorful desk is appropriate.

In-Wall Cabinets

Consider this as a way to help to keep the clutter out and to beautify a room with a unique, custom twist. By installing in-wall cabinets, you will find you are not only adding value and beauty, but organization to a room as well. Think about all of the different ways that this can be done and what you will be able to do with these. You can build a whole room around these cabinets.

These different fixtures bring a room to life and create a better looking home, which is one of the key reasons to add these items to your home improvement list. Consider all of the options and designs you can create by starting with just one of these pieces.

Some Sarasota home improvement projects put the rest to shame. For some of the most elegant cabinetry and custom furniture in the area, view the portfolio at: http://eurotechcabinetry.com.

Source: http://www.articlesrx.com/storage-is-a-major-part-of-home-improvement/11020

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edrisali1990: norine dart: Health Plus Fitness: Womens Issues

norine dart: Health Plus Fitness: Womens Issues Article Category ...

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Police: Shots fired, rapper Ross crashes Rolls

FORT LAUDERDALE, Fla. (AP) ? Police in South Florida say rapper Rick Ross crashed his Rolls Royce into a building after hearing shots fired nearby.

Fort Lauderdale police say Ross and his companion, fashion designer Shateria L. Moragne-el, reported hearing multiple shots fired in their direction at around 5:00 a.m. Monday. Police say Ross lost control of the silver Rolls and crashed into an apartment building.

Neither Ross nor his passenger was injured and police say it did not appear that any bullets struck the Rolls.

The police report uses Ross's real name, William L. Roberts. Ross turned 37 years old Monday.

Authorities say unknown suspects fled before police arrived. TV news footage showed a bullet hole in the window of a nearby restaurant.

A Ross spokesman didn't respond to email seeking comment.

Source: http://news.yahoo.com/police-shots-fired-rapper-ross-crashes-rolls-172919698.html

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