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February 5, 2013
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  Top Stories 
  • U.S. factory-orders data disappoint; jobs index turns negative
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    December's increase in orders to U.S. factories came in under forecasts at 1.8%, and November's figure was revised downward to a 0.3% decline by the Commerce Department. Separately, the Conference Board's Employment Trends Index for January decreased for the first time in four months. Analysts said, however, that the latest figures remain consistent with a continued moderate economic expansion. Bloomberg (2/4)

  • Spanish unemployment sets another record
    Spanish unemployment rose again in January to a record total of nearly 5 million people, or 26% of the working population. The outlook is for deepening joblessness in a country that already accounts for a third of unemployed workers in the eurozone. Bloomberg Businessweek (2/4) LinkedInFacebookTwitterEmail this Story
  • U.K. construction index reveals continued shrinkage
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    Foul weather added to weak fundamentals in the U.K. construction industry last month, leaving a Markit index of activity in the key sector at 48.7, the same as December's reading. The results, marking a third month of contraction, "are yet another indicator of the severe underlying fragility" across the sector, said Tim Moore, a senior economist at Markit. Bloomberg Businessweek (2/4) LinkedInFacebookTwitterEmail this Story

  • U.K., Germany clash over Cameron's EU demands
    The U.K. and German governments are sharply divided over U.K. Prime Minister David Cameron's demands for new terms of membership in the European Union based largely on the city of London's pre-eminence in financial affairs. "The British view is that the city is the largest financial center in Europe by a mile, so there is that attitude that we know how to do it and we'll tell you. It doesn't go down too well," said Graham Bishop, who advises European officials on financial regulations. Bloomberg (2/3) LinkedInFacebookTwitterEmail this Story
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  Market Activities 
    Signs of political upheaval in Spain and Italy upset markets Monday in Europe and the U.S. with the prospect of destabilization in the still-fragile eurozone. Spanish Prime Minister Mariano Rajoy is involved in a corruption scandal, and polls showed former Prime Minister Silvio Berlusconi gaining popular support in Italy. The Stoxx Europe 600 plunged 1.49% to 283.90 for the largest drop since October, and the S&P 500 fell 1.15% to 1,495.71. Here is a continuously updated list of global stock indexes. The Wall Street Journal (2/5) , Bloomberg Businessweek (2/4) , CNNMoney (2/4) LinkedInFacebookTwitterEmail this Story
  • Asian shares end day mixed
    Many Asian shares rose Monday on generally well-regarded economic indicators emerging from China and the U.S. The Nikkei rose 0.62% to 11,260.35, but several other general indexes registered losses, with the Hang Seng down 0.16% to 23,685.01, the Kospi off 0.23% to 1,953.21 and the S&P/ASX easing 0.28% to 4,907.50. Bloomberg (2/4)
  Economic Trends & Outlook 

  • Taiwan's PMI surges in January
    Taiwan's composite purchasing managers' index jumped to a strongly expansionary 57.7 last month from 51.3 in December in response to firm economic sentiment and Lunar New Year demand, according to a report by the Chung-Hua Institution for Economic Research. "Following the U.S.'s 'fiscal cliff' issue easing, as well as Japan's moves [to stimulate its economy], Taiwan's PMI may show a rising trend ahead," said CIER President Wu Chung-shu. The Taipei Times (Taiwan) (2/5) LinkedInFacebookTwitterEmail this Story
  • Philippines sees 2012 budget deficit well under target
    The Philippines' budget deficit probably came to no more than 2.3% of GDP in 2012, well under the target cap of 2.6%, according to Budget Secretary Florencio B. Abad. Meanwhile, looking ahead, World Bank country director Motoo Konishi said the Philippines should focus on creating jobs, given the 10 million currently without work or underemployed and an expected additional 1.1 million entering the labor force each year. Business World (Philippines) (2/4) , Business World (Philippines) (2/4) LinkedInFacebookTwitterEmail this Story
  Capital Markets & Financial Products 
  Industry & Regulatory Update 
  • Leadership change reportedly in store at China's central bank
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    In a signal that could point to a different pace of change at China's central bank, the official China Securities Journal reports that bank chief Zhou Xiaochuan will leave his post next month. A change at the top of the People's Bank of China would be first since Zhou assumed the post in 2002. Bloomberg (2/4)

  • South Korean securities industry tightens its belt
    The toll in lost personnel and retail branches has been heavy in South Korea as brokerage firms pare back to cope with an economic slowdown. The moves come after operating profits of 17 securities firms plunged 41% in the first half of 2012 from a year before. The outlook may be grim as well, with the Korean won holding up against a weakening Japanese yen. The Korea Herald (Seoul) (2/4) LinkedInFacebookTwitterEmail this Story
  People & Personalities 
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