Category: Business » Economy

Your IMF Update: Press Release - Mongolia

19 Feb 01:32 | Business

New item in your series of interest:IMF Reaches Staff-Level Agreement with Mongolia on Three-Year Extended Fund Facility http://www.imf.org/en/News/Articles/2017/02/19/PR1754-Mongolia-IMF-Reaches-Staff-Level-Agreement-on-3Yr-EFF*************************************************************** read more »

SEC, NASAA Sign Info-Sharing Agreement for Crowdfunding and Other Offerings

17 Feb 11:45 | U.S. News

The Securities and Exchange Commission and the North American Securities Administrators Association today signed an information-sharing agreement as new rules to facilitate intrastate crowdfunding offerings and regional offerings take effect. The agreement signed by the SEC and NASAA is intended to facilitate the sharing of information to ensure that the new exemptions are serving their intended purpose of facilitating access to capital for small businesses. Under the memorandum of understanding (MOU), federal and state securities regulators will be better able to monitor the effects of the new rules and also guard against fraud. The MOU was signed by SEC Acting Chairman Michael S. Piwowar and Mike Rothman, Minnesota Commissioner of Commerce and President of NASAA, which represents state securities administrators. The agreement not only builds on an already productive relationship between the SEC and state regulators, it also offers additional insights andread more »

Quarterly Services Survey

17 Feb 10:00 | Business

Advance Report: The estimate of U.S. selected services total revenue for the fourth calendar quarter of 2016, not adjusted for seasonal variation, or for price changes, was $3,617.5 billion, an increase of 2.4 percent (+/- 0.4%) from the third quarter of 2016 and up 6.1 percent (+/- 0.6%) from the fourth quarter of 2015. The second quarter of 2016 to third quarter of 2016 percent change was revised from 1.6 percent (+/- 0.2%) to 1.8 percent (+/- 0.4%).4th Qtr 2016: +2.4 % change3rd Qtr 2016 (r): +1.6 % changeread more »

PRATES: Change to the Publication of Interest Rates on Reserve Balances

17 Feb 07:14 | Business

Effective February 23, 2017, the Federal Reserve Board will publish on each business day at 4:30 p.m., Eastern Time, the interest rates on reserve balances applicable for the next business day. The interest rates on reserve balances, which include the interest rates on required and excess balances, are determined by the Board and officially announced in the most recent Implementation Note. The associated data are made available on the Federal Reserve Board's website on the "Interest on Required Balances and Excess Balances" page and in the Policy Rates Data Download Program.read more »

Your IMF Update: Press Release - Kyrgyz Republic

16 Feb 13:17 | Business

New item in your series of interest:IMF Staff Concludes Visit to The Kyrgyz Republic http://www.imf.org/en/News/Articles/2017/02/16/pr1752-IMF-Staff-Concludes-Visit-to-The-Kyrgyz-Republic*************************************************************** read more »

Federal Reserve to offer seven-day term deposits on February 23

16 Feb 11:34 | Business

Federal Reserve to offer seven-day term deposits on February 23read more »

Federal Reserve Board announces termination of enforcement action with West Tennessee Bancshares and Bank of Bartlett

16 Feb 11:34 | Business

Federal Reserve Board announces termination of enforcement action with West Tennessee Bancshares and Bank of Bartlettread more »

New Residential Construction

16 Feb 08:30 | Business

Privately-owned housing starts in January 2017 were at a seasonally adjusted annual rate of 1,246,000. This is 2.6 percent (+/- 11.0%)* below the revised December 2016 estimate of 1,279,000.January 2017: -2.6* % changeDecember 2016 (r): +11.3 % changeread more »

G17: G.17 Preliminary Estimates of Industry Capacity

16 Feb 06:42 | Business

The data in the February 15, 2017 release include preliminary estimates of industrial capacity for 2017. Measured from fourth quarter to fourth quarter, total industrial capacity is projected to rise 1.3 percent this year after increasing 0.4 percent in 2016. Manufacturing capacity is expected to advance 1.1 percent in 2017, somewhat faster than the 0.7 percent pace in 2016. Capacity in the mining sector is estimated to rise 0.9 percent in 2017 after falling 3.4 percent in 2016. Capacity at electric and natural gas utilities is projected to increase 0.8 percent, about the same rate as in the three previous years.read more »

G17: G.17 Data for January 2017 are now available

16 Feb 06:42 | Business

Industrial production and capacity utilization data for January 2017 are now available.Industrial production decreased 0.3 percent in January following a 0.6 percent increase in December. In January, manufacturing output moved up 0.2 percent, and mining output jumped 2.8 percent. The index for utilities fell 5.7 percent, largely because unseasonably warm weather reduced the demand for heating. At 104.6 percent of its 2012 average, total industrial production in January was at about the same level as it was a year earlier. Capacity utilization for the industrial sector fell 0.3 percentage point in January to 75.3 percent, a rate that is 4.6 percentage points below its long-run (1972-2016) average.read more »

California Wine Exports Reach Record $1.62 Billion In 2016

15 Feb 13:08 | U.S. News

U.S. wine exports, 90% from California, reached $1.62 billion in winery revenues in 2016, a new record. Despite challenges from a strong dollar, winery revenues were up 1% from 2015. Volume was 412.7 million liters or 45.9 million cases.read more »

Manufacturing and Trade Inventories and Sales

15 Feb 10:00 | Business

U.S. total business end-of-month inventories for December 2016 were $1,835.7 billion, up 0.4 percent (+/- 0.2 percent) from last month. U.S. total business sales were $1,356.0 billion, up 2.0 percent (+/-0.2 percent) from last month.December 2016: +0.4 % change in InventoriesNovember 2016 (r): +0.8 % change in Inventoriesread more »

Business Employment Dynamics Latest Numbers

15 Feb 08:40 | Business

Gross Job Gains: Total Private 7,463,000 in 2nd Qtr of 2016 Historical Data Goods-Producing 1,332,000 in 2nd Qtr of 2016 Historical Data Service-providing 6,131,000 in 2nd Qtr of 2016 read more »

Import/Export Price Indexes Latest Numbers

15 Feb 08:40 | Business

Imports All Commodities: +0.4% in Jan 2017 Historical Data Fuels & Lubricants: +5.8% in Jan 2017 Historical Data All Imports Excluding Fuels: -0.2% in Jan 2017 read more »

Major Economic Indicators Latest Numbers

15 Feb 08:39 | Business

Consumer Price Index (CPI): +0.6% in Jan 2017 News Release Historical Data Unemployment Rate: 4.8% in Jan 2017 News Release Historical Data Payroll Employment: read more »

Consumer Price Index Latest Numbers

15 Feb 08:39 | Business

CPI-U, US City Average, All Items: NSA +0.6% in Jan 2017 Historical Data SA +0.6% in Jan 2017 Historical Data NSA +2.5% since Jan 2016 Historical Dread more »

Current Employment Statistics Latest Numbers

15 Feb 08:39 | Business

Change in Total Nonfarm Payroll Employment: +227,000(p) in Jan 2017 Historical Data Change in Total Private Average Hourly Earnings for All Employees: +$0.03(p) in Jan 2017 Historical Data Change in Total Private Average Weekly Hours for All Employees: read more »

Mass Layoff Statistics Latest Numbers

15 Feb 08:39 | Business

Seasonally Adjusted: Total Mass Layoff Events 1,301 in May 2013 Historical Data Change in Total Mass Layoff Events +102 in May 2013 Historical Data Total Mass Layoff Initial Claimants 127,821 read more »

Advance Monthly Sales for Retail and Food Services

15 Feb 08:30 | Business

U.S. retail and food services sales for January were $472.1 billion, an increase of 0.4 percent (+/-0.5%)* from the previous month.January 2017: +0.4* % changeDecember 2016 (r): +1.0 % changeread more »

SEC Charges Fuel Cell Company and Officers With Defrauding Investors

14 Feb 15:45 | U.S. News

The Securities and Exchange Commission today charged a California-based penny stock company and four corporate officers with misleading investors about the research, development, and profitability of their purported business to manufacture power generation products such as fuel cells. The SEC alleges that while raising approximately $7.9 million from investors in Terminus Energy Inc., the company and its officers claimed to have a viable prototype capable of being sold and earning revenue.  According to the SEC's complaint, Terminus did not have the fuel cell technology or the funding to match their claims, and the officers were instead converting substantial amounts of investor funds to their own use. According to the SEC’s complaint, the company failed to disclose to investors that Terminus’s operations manager George Doumanis is a convicted felon who went to prison for securities fraud and was secretly acting as an officer of the company despite being barred from read more »

SEC Announces Cases Related to Disclosures During Battles for Corporate Control

14 Feb 15:40 | Business

The Securities and Exchange Commission today announced two enforcement actions involving disclosure violations that deprived investors of material information during battles for corporate control of publicly traded companies. In one case, the SEC’s order finds that Texas-based oil refinery company CVR Energy made inadequate disclosures in SEC filings about “success fee” arrangements with two investment banks retained by the company to fend off a hostile takeover bid.  Shareholders were consequently unaware of potential conflicts of interest that stemmed from the fee arrangements, namely that the banks could still earn success fees even if the hostile bidder secured control of the company.  CVR agreed to settle the case without admitting or denying the findings in the SEC’s order, which notes that the company will not pay a penalty due to its remedial acts and extensive cooperation with the investigation. The SEC’s order in the other case finds that groups of investorread more »

Purported Real Estate Investment Manager Settles Fraud Charges

14 Feb 12:35 | U.S. News

The Securities and Exchange Commission today announced that a purported real estate investment manager has agreed to pay more than a half-million dollars to settle charges that he pocketed investor money in an investment scheme. The SEC alleges that James P. Toner Jr. of Scottsdale, Ariz., siphoned $51,000 from investors who were falsely told that he would personally manage some of the real estate projects in which they were purchasing interests.  The stated purpose of each investor offering was to purchase a residential property in the Phoenix area, renovate that property, and then sell it for a profit.  According to the SEC’s complaint, Toner took $31,000 in undisclosed management fees even though he did not manage any of the offerings, and stole $20,000 directly from an investor.  Without conducting any due diligence, Toner allegedly entrusted the management of the investments to a real estate broker who subsequently squandered investor funds.  According to the SEread more »

Purported Real Estate Investment Manager Settles Fraud Charges

14 Feb 12:35 | Business

The Securities and Exchange Commission today announced that a purported real estate investment manager has agreed to pay more than a half-million dollars to settle charges that he pocketed investor money in an investment scheme. The SEC alleges that James P. Toner Jr. of Scottsdale, Ariz., siphoned $51,000 from investors who were falsely told that he would personally manage some of the real estate projects in which they were purchasing interests.  The stated purpose of each investor offering was to purchase a residential property in the Phoenix area, renovate that property, and then sell it for a profit.  According to the SEC’s complaint, Toner took $31,000 in undisclosed management fees even though he did not manage any of the offerings, and stole $20,000 directly from an investor.  Without conducting any due diligence, Toner allegedly entrusted the management of the investments to a real estate broker who subsequently squandered investor funds.  According to the SEread more »

Morgan Stanley Settles Charges Related to ETF Investments

14 Feb 11:40 | Business

The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney has agreed to pay an $8 million penalty and admit wrongdoing to settle charges related to single inverse ETF investments it recommended to advisory clients. The SEC’s order finds that Morgan Stanley did not adequately implement its policies and procedures to ensure that clients understood the risks involved with purchasing inverse ETFs.  Among the order’s findings, Morgan Stanley failed to obtain from several hundred clients a signed client disclosure notice, which stated that single inverse ETFs were typically unsuitable for investors planning to hold them longer than one trading session unless used as part of a trading or hedging strategy.  Morgan Stanley solicited clients to purchase single inverse ETFs in retirement and other accounts, the securities were held long-term, and many of the clients experienced losses. The SEC’s order further finds that Morgan Stanley failed to folread more »

Business Employment Dynamics Latest Numbers

14 Feb 08:33 | Business

Gross Job Gains: Total Private 7,463,000 in 2nd Qtr of 2016 Historical Data Goods-Producing 1,332,000 in 2nd Qtr of 2016 Historical Data Service-providing 6,131,000 in 2nd Qtr of 2016 read more »

Import/Export Price Indexes Latest Numbers

14 Feb 08:33 | Business

Imports All Commodities: +0.4% in Jan 2017 Historical Data Fuels & Lubricants: +5.8% in Jan 2017 Historical Data All Imports Excluding Fuels: -0.2% in Jan 2017 read more »

Major Economic Indicators Latest Numbers

14 Feb 08:33 | Business

Consumer Price Index (CPI): +0.3% in Dec 2016 News Release Historical Data Unemployment Rate: 4.8% in Jan 2017 News Release Historical Data Payroll Employment: read more »

Consumer Price Index Latest Numbers

14 Feb 08:33 | Business

CPI-U, US City Average, All Items: NSA unchanged in Dec 2016 Historical Data SA +0.3% in Dec 2016 Historical Data NSA +2.1% since Dec 2015 Historicread more »

Current Employment Statistics Latest Numbers

14 Feb 08:33 | Business

Change in Total Nonfarm Payroll Employment: +227,000(p) in Jan 2017 Historical Data Change in Total Private Average Hourly Earnings for All Employees: +$0.03(p) in Jan 2017 Historical Data Change in Total Private Average Weekly Hours for All Employees: read more »

Mass Layoff Statistics Latest Numbers

14 Feb 08:33 | Business

Seasonally Adjusted: Total Mass Layoff Events 1,301 in May 2013 Historical Data Change in Total Mass Layoff Events +102 in May 2013 Historical Data Total Mass Layoff Initial Claimants 127,821 read more »

Brokerage Firm Paying Penalty for Compliance and Trading Surveillance Failures

13 Feb 14:40 | U.S. News

The Securities and Exchange Commission today announced that a New York-based brokerage firm has agreed to pay a $100,000 penalty to settle charges of compliance and trading surveillance failures. Federal securities laws require firms to enforce policies and procedures to prevent the misuse of material, nonpublic information to which their employees routinely have access.  The SEC’s order finds that Sidoti & Company LLC had no written policies or procedures in place from November 2014 to July 2015 as it pertained to those making investment decisions for an affiliated hedge fund that invested in issuers covered by Sidoti’s research department and some other issuers for which Sidoti provided investment banking services.  For example, Sidoti maintained a “daily restricted list” of securities restricting personal trading because Sidoti was involved in investment banking or marketing activities or the firm was publishing research on the security.  There were 126 instances from Novread more »

Your IMF Update: Press Release

13 Feb 11:02 | Business

New item in your series of interest:New IMF Training and Technical Assistance Center for Economic Capacity Building in South Asia http://www.imf.org/en/News/Articles/2017/02/13/pr1745-New-IMF-Training-and-Technical-Assistance-Center-for-Economic-Capacity*************************************************************** read more »

Business Employment Dynamics Latest Numbers

13 Feb 08:41 | Business

Gross Job Gains: Total Private 7,463,000 in 2nd Qtr of 2016 Historical Data Goods-Producing 1,332,000 in 2nd Qtr of 2016 Historical Data Service-providing 6,131,000 in 2nd Qtr of 2016 read more »

Import/Export Price Indexes Latest Numbers

13 Feb 08:41 | Business

Imports All Commodities: +0.4% in Jan 2017 Historical Data Fuels & Lubricants: +5.8% in Jan 2017 Historical Data All Imports Excluding Fuels: -0.2% in Jan 2017 read more »

Major Economic Indicators Latest Numbers

13 Feb 08:41 | Business

Consumer Price Index (CPI): +0.3% in Dec 2016 News Release Historical Data Unemployment Rate: 4.8% in Jan 2017 News Release Historical Data Payroll Employment: read more »

Consumer Price Index Latest Numbers

13 Feb 08:41 | Business

CPI-U, US City Average, All Items: NSA unchanged in Dec 2016 Historical Data SA +0.3% in Dec 2016 Historical Data NSA +2.1% since Dec 2015 Historicread more »

Current Employment Statistics Latest Numbers

13 Feb 08:41 | Business

Change in Total Nonfarm Payroll Employment: +227,000(p) in Jan 2017 Historical Data Change in Total Private Average Hourly Earnings for All Employees: +$0.03(p) in Jan 2017 Historical Data Change in Total Private Average Weekly Hours for All Employees: read more »

Mass Layoff Statistics Latest Numbers

13 Feb 08:41 | Business

Seasonally Adjusted: Total Mass Layoff Events 1,301 in May 2013 Historical Data Change in Total Mass Layoff Events +102 in May 2013 Historical Data Total Mass Layoff Initial Claimants 127,821 read more »

Your IMF Update: Speech

11 Feb 23:06 | Business

New item in your series of interest:Generating Public Revenue to Build Resilient Economies http://www.imf.org/en/News/Articles/2017/02/12/Generating-Public-Revenue-to-Build-Resilient-Economies*************************************************************** read more »

Daniel K. Tarullo submits resignation as a member of the Board of Governors, effective on or around April 5, 2017

10 Feb 19:04 | Business

Daniel K. Tarullo submits resignation as a member of the Board of Governors, effective on or around April 5, 2017read more »

Federal Reserve Board issues revised macroeconomic scenarios for its 2017 stress testing program to correct a data series error

10 Feb 19:04 | Business

Federal Reserve Board issues revised macroeconomic scenarios for its 2017 stress testing program to correct a data series errorread more »

SEC Charges Chinese Citizens Who Reaped Massive Profits From Insider Trading on Comcast-Dreamworks Acquisition

10 Feb 14:25 | Business

The Securities and Exchange Commission today announced that it obtained an emergency court order freezing brokerage accounts holding more than $29 million in illegal profits from insider trading in advance of the April 2016 acquisition of DreamWorks Animation SKG, Inc. by Comcast Corp. The SEC alleges that in the weeks leading up to the news of the acquisition, Shaohua (Michael) Yin amassed more than $56 million of DreamWorks stock in the U.S. brokerage accounts of five Chinese nationals, including his elderly parents.  DreamWorks stock price rose 47.3% once the acquisition was announced.   In a complaint filed in U.S. District Court in the Southern District of New York, the SEC alleged the five accounts reaped $29 million from the DreamWorks trades.  The complaint also alleges the accounts profited from other suspicious trading in another U.S.-based company and three China-based companies ahead of market-moving news. Yin, a partner at Summitview Capital Manaread more »

Business Employment Dynamics Latest Numbers

10 Feb 08:36 | Business

Gross Job Gains: Total Private 7,463,000 in 2nd Qtr of 2016 Historical Data Goods-Producing 1,332,000 in 2nd Qtr of 2016 Historical Data Service-providing 6,131,000 in 2nd Qtr of 2016 read more »

Import/Export Price Indexes Latest Numbers

10 Feb 08:36 | Business

Imports All Commodities: +0.4% in Jan 2017 Historical Data Fuels & Lubricants: +5.8% in Jan 2017 Historical Data All Imports Excluding Fuels: -0.2% in Jan 2017 read more »

Major Economic Indicators Latest Numbers

10 Feb 08:36 | Business

Consumer Price Index (CPI): +0.3% in Dec 2016 News Release Historical Data Unemployment Rate: 4.8% in Jan 2017 News Release Historical Data Payroll Employment: read more »

Consumer Price Index Latest Numbers

10 Feb 08:36 | Business

CPI-U, US City Average, All Items: NSA unchanged in Dec 2016 Historical Data SA +0.3% in Dec 2016 Historical Data NSA +2.1% since Dec 2015 Historicread more »

Current Employment Statistics Latest Numbers

10 Feb 08:36 | Business

Change in Total Nonfarm Payroll Employment: +227,000(p) in Jan 2017 Historical Data Change in Total Private Average Hourly Earnings for All Employees: +$0.03(p) in Jan 2017 Historical Data Change in Total Private Average Weekly Hours for All Employees: read more »

Mass Layoff Statistics Latest Numbers

10 Feb 08:36 | Business

Seasonally Adjusted: Total Mass Layoff Events 1,301 in May 2013 Historical Data Change in Total Mass Layoff Events +102 in May 2013 Historical Data Total Mass Layoff Initial Claimants 127,821 read more »

Your IMF Update: Press Release - Australia

9 Feb 18:07 | Business

New item in your series of interest:IMF Executive Board Concludes 2016 Article IV Consultation with Australia http://www.imf.org/en/News/Articles/2017/02/09/PR1741-Australia-IMF-Executive-Board-Concludes-2016-Article-IV-Consultation*************************************************************** read more »

Federal Reserve Board announces approval of application by Anchor Bancshares, Inc.

9 Feb 17:07 | Business

Federal Reserve Board announces approval of application by Anchor Bancshares, Inc.read more »

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