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JBT Asset Management: October 2012

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Thursday, 11 October 2012. Petroceltic to Buy Melrose Resources to Expand Oil Portfolio. Petroceltic International Plc (PCI), an oil and gas company with assets in Algeria, agreed to buy Melrose Resources Plc (MRS) for 165 million pounds ($259 million) to expand in North Africa and the Mediterranean. 8220;This gives us a better platform to grow,” O’Cathain said in a telephone interview today. “We’ll be able to produce 40,000 barrels of oil equivalent a day in five years. T...Petroceltic’s main asse...

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JBT Asset Management: News Corp. Mulls Splitting in Two

http://jbtasset.blogspot.com/2012/06/news-corp-mulls-splitting-in-two.html

Tuesday, 26 June 2012. News Corp. Mulls Splitting in Two. News Corp. is considering splitting into two companies, separating its publishing assets from its entertainment businesses, say people familiar with the situation. The idea under consideration isn't expected to change the Murdoch family's effective control of any of the businesses, exercised through the family's roughly 40% voting stake in News Corp. The idea is similar to the split of Viacom Inc. In light of the scandal, the U.K. communic...A spl...

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JBT Asset Management: Euro-Zone Data Point to North-South Divide

http://jbtasset.blogspot.com/2012/06/euro-zone-data-point-to-north-south.html

Tuesday, 26 June 2012. Euro-Zone Data Point to North-South Divide. German and French consumers are undaunted by the euro zone's deepening fiscal crisis, but their Italian counterparts have slashed their spending in stores on growing pessimism about the outlook for the currency area's third-largest economy. There was also a rare piece of good news from the Netherlands, with revised figures also released Tuesday showing the euro zone's fifth-largest economy emerged from recession in the first quarter.

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JBT Asset Management: December 2011

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Thursday, 22 December 2011. European Banks Rush to Grasp Lifeline. Hundreds of euro-zone lenders took out €489.19 billion ($640 billion) in low-interest loans from the European Central Bank on Wednesday, as the currency area extended a massive financial lifeline to its struggling banking industry. Through the loans, the ECB is trying to address a crucial weakness in the euro zone's financial system. Nervous institutional investors have essentially stopped lending to banks, fearful of their heavy hold...

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JBT Asset Management: November 2011

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Wednesday, 30 November 2011. Systemic euro zone crisis requires systemic response. The debt crisis in Europe is now fully systemic and will require a systemic response to resolve it, the president of European Council, which represents EU member states, said on Wednesday. The trouble has become systemic. We are witnessing a full-blown confidence crisis," Herman Van Rompuy said in a speech to a conference of EU ambassadors. Read more: JBT Asset Management. American Airlines files for bankruptcy. American A...

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JBT Asset Management: February 2012

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Wednesday, 29 February 2012. Euro Weakens Versus Dollar After ECB Announces Three-Year Loans to Banks. The euro weakened against the dollar after the European Central Bank awarded a second round of three- year loans to banks, increasing the supply of the currency and boosting higher-yielding assets. The euro dropped 0.2 percent to $1.3430 at 6:41 am in New York, trimming this month’s gain to 2.7 percent. The common currency declined 0.2 percent to 108.11 yen after rising as ...The Frankfurt-based ECB sai...

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JBT Asset Management: September 2012

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Monday, 10 September 2012. Need for Action on Fiscal Cliff Comes from Alternate Tax. An expansion in the reach of the alternative minimum tax is the element of the U.S. fiscal cliff with the largest immediate effect on taxpayers and the most bipartisan appetite for a solution, creating the possibility that lawmakers could use it to propel Congress toward a deal. The AMT isn’t indexed for inflation, meaning that Congress must routinely pass so-called patches to keep it from reaching deep into the mi...

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JBT Asset Management: January 2012

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Tuesday, 31 January 2012. Rising Euro Defies Market Negativity—Or Does It? Speculative bets against the euro this month have taken place on an unprecedented scale and yet the currency somehow continues to defy gravity against the dollar. It was the fifth straight week in which the data showed a record negative bias among futures traders against the euro. At $28.1 billion, the net balance was also 10% higher than in the previous week and had more than doubled since September. In large part, it is the fact...

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JBT Asset Management: S&P 500 Set For Longest Rally Since March After Bernanke

http://jbtasset.blogspot.com/2012/08/s-500-set-for-longest-rally-since-march.html

Friday, 31 August 2012. S&P 500 Set For Longest Rally Since March After Bernanke. US stocks advanced, driving the Standard and Poor’s 500 Index toward its longest monthly rally since March, as Federal Reserve Chairman Ben S. Bernanke said he would not rule out further bond purchases to boost growth. Bernanke’s speech comes two weeks before he leads a meeting of the Federal Open Market Committee to decide whether an expansion of the Fed’s record stimulus is needed to spur growth. Two round...8220;We have ...