Another bold step took by the Fed by Martina Harvanova

Such a rare situation offers seldom. The strongest, the most fearless and dynamic country of the world isn't sure about its own future. Furthermore, the case worsens as the fears of the domestic population have outgrown into real difficulties. The United States are facing a serious danger of a sharp economic plunge. The previous rate cuts done by Federal Reserve even sharpened as it took its next step in favor to avert or at least soften the blow of a recession. The Wednesday's bold action caused a cut by a half-percentage point. It was the second Fed rate cut in just over a week, and the policymakers signaled they were prepared to keep going lower if needed. The further-reaching influence came as the next unpleasant surprise to the U. S. citizens as well as another merchants and foreigners dealing on the market. Commercial banks followed the Fed by lowering their prime lending rate by the same half percentage point. It now represents 6 percent which means the lowest rate in nearly three years and affects dealing with home equity lines of credit or other loans. Another interesting fact shows that low rates have not kept home sales or prices from sliding. As the analysts state, the housing market is still looking for its bottom, foreclosures have hit record highs and banks have been swamped by billion-dollar losses. Although the cuts have calmed the fears and delighted investors, the financial markets remain fragile and the recession concerns are still intensifying. Except the terrorism the newest worries in the U. S. are called housing slump and credit crunch. And the strongest nation isn't so powerful anymore.

related story: http://www.ft.com/cms/s/0/2dfdcefa-ce9a-11dc-877a-000077b07658.html

by Martina Harvanova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

When Numbers Are Causing Troubles by Kamila Moravcikova

Ben Bernanke, the Board Chairman of Fed (Federal Reserve System, the central bank of the United States to be correct) said recently that Fed wasn't forecasting a recession. Well, the one thing is what Fed officials say and the other, what they are doing. All the folks there act like, well, don't worry about this, everything's fine, don't get terrified by Bush's "emergency package", maybe this year won't be the best, but it's still okay, we just cut this rate a little and cut another one a bit, we do this and we do that. No recession in sight, you can just expect few harder days at worst. Problems in the housing markets, meagre GDP growth, inflation that people are starting to worry about, crisis on the Wall Street (that hit every single Stock Exchange in the world starting with London and ending with Tokyo), sales of US goods and services abroad slowed down, week US dollar, etc, etc. (people who give a damn what's going on around had to notice something about this) and there is nothing to worry about? Or maybe statements like these are just another instrument to calm the situation down a little bit in effort not to worsen it even more? Well, all I know it's that I'm getting tired of listening to such messages and desperately waiting for any good news. Let's hope the recession or "something-like-recession" or whatever it is will pass soon and all the rates, ratios, indexes will show the right values (whichever are the "right" ones).

related story: http://news.yahoo.com/s/ap/20080130/ap_on_bi_go_ec_fi/economy;_ylt=AoI_YOM6tGRwKA0R9ha40Yes0NUE

by Kamila Moravcikova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Despite the scandal, Bouton stays by Lenka Filipova

Daniel Bouton stays in Societe Generale as the board expressed trust with its chairman. However, he will no longer be assigned to participate in the cause of the crisis over the recent biggest trading scandal in investment bank. The crisis was caused by the loss of 4.82 billion Euro ($7.1 billion). According to a bank spokesman the guilt is attributed to a junior trader Jerome Kerviel. The European Commission is drawing banks' attention to ensure the equity among domestic French banks and the foreign institutions. The crisis team is going to lead an audit and is going to search out the reasons of the crisis itself Jean-Martin Folz expressed. Societe Generale has thrown a suspicion upon Kerviel that he stole the computer codes and use them to tamper documents in order to place more than 50billion Euro ( $73 billion) to future trades. Christian Noyer, a Central Bank governor, admitted that the permanent control mechanisms were not working as they should and those that worked appropriately were not observed with caution. President Nicolas Sarkozy has rendered his discontent with the stay of Bouton in Societe Generale. However, the board insisted in his continuation as a head because with his experience they may echo all possible takeover bids and support the financial situation by the rise of 5.5 billion Euro. To end-of-crisis, Bouton said that he was "absolutely determined" to do his best to reassure all clients and employees that the scandal will have no impact on them.

by Lenka Filipova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Change of the economic weather by Martina Harvanova

Recession or just a slight domestic plunge? That is currently the most popular discussed issue round the U. S. economic environment. Is the world's largest economy weathering its tough period as it in fact seems because of the quite long-lasting difficulties on the market? Or is the recent situation just a small shaking of the otherwise extremely strong country? Treasury secretary Henry Paulson claims the situation occurs on its way to recover. Already the beginning of the 2008 foretold the possible scenario of this-year's position and evolution throughout the world's economy. Most of the analysts' forecast announced the "change of the weather". The decade ending with the year 2007 can be remembered as a period when everything went well and grew. Record global economic vigor contributed to the decrease of the inflation, rare troubles on the financial market as well as to the reduction of poverty in less developed countries. The majority of these optimistic reports already vanished and the future isn't predicted as great anymore. The growth rate on the level of 5 per cent is no long sustainable and the considerable number of developed countries will grow just about the rate of 2 per cent. The mentioned prognosis isn't apparently any surprising. The latest steps took, for instance, by Federal Reverse that cut interest rate, two-year-long housing downturn throughout the United States or tens of billions of dollar in losses of American banks tied to mortgage investments only confirm the forthcoming trend in the economy. Consequently, most of the economists agree that the situation is natural but, on the other hand, can be improved by particular actions of the state. If the market doesn't solve the problems itself, the state must help it and that is exactly what Paulson affirms: "I am optimistic that Congress will pass a growth package quickly enough to have a real impact on our economy." The U. S. economic growth slowed to a 0.6 per cent annual crawl in the fourth quarter of 2007, after a 4.9 percent pace in the third quarter must act as a exclamation mark especially for the government. However, the current situation isn't as frightful as it may seem on the first sight. We just need to get used that the living conditions are changing and that the welfare economics can't last forever.

related story: http://news.yahoo.com/s/afp/20080130/bs_afp/useconomypaulsonfinancepolitics_080130205424;_ylt=Aq0XhAWN8bO7SwkLmbZzD5Ss0NUE

by Martina Harvanova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

How to keep the "AAA" rating by Jana Passova

MBIA Inc. is in financial world known as a financial guarantor and a leading provider of fixed-income investment management services. The whole business is rotating around a credit enhancement of municipal bounds and asset-and mortgage-backed transactions in the new issue and secondary markets. It is one of few companies that got the "AAA" financial strength rating. The company finished 2006 as a very strong player on a financial playground. It earned $849.3 million, which is $5.99 per share and lost $1.9 billion, it means $15.22 per share. Not a bad score. Beginning of this year wasn't so successful. It loses $2.3 billion on write-downs, or $18.61 per share compared with earnings of $181 million, or $1.32 per share, during the same period the previous year. During the last quarter was the MBIA credit portfolio reduced by $3.5 billion, reducing earnings by $18.04 per share. MBIA starts to use a new strategy called CDO which is also known as a complex financial instruments that combine various forms of debt. These activities should increase their capital position over $2 billion. MBIA has also problem with its "AAA" rating. That is why it tried to raise more than $1.5 billion in recent month. The company used the offering of surplus notes and also a direct investment by private equity firm Warburg Pincus to get this issue. According to Meredith Whitney, who works as an analyst of Oppenheimer & Co., banks should take up to $70 billion in extra write-downs because of the bond precarious insurers.

by Jana Passova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Yahoo trims its ranks by Zuzana Zelenakova

According to published reports Internet giant Yahoo Inc. is planning to lay off 1.000 workers in "targeted reductions". The reason is simple, slow revenue growth, which the company has experienced despite having hundreds of millions users all around the world. Jerry Yang, Yahoo co-founder and executive, announced that the plan is scheduled on February. The company will reduce its workforce of 14.300 people by seven percent. It is its biggest layoff since dot-com bust in 2001. "This is a necessary step in our transformation," said Jerry Yang. In the last three month of 2007 Yahoo profits fell to 205.7 million dollars, which is 23 percent drop compared to 268.7 million dollars at the same period in 2006. Share price declined from 19 cents per share in final fiscal quarter in 2006 to 15 cents per share in 2007. "While we will continue to face headwinds this year, we believe that the moves we are making will help us exit 2008 stronger and more competitive and return to higher levels of operating cash flow growth in 2009," stated Yang. Financial analysts stay pessimistic and predict that Yahoo will earn approximately 11 cents per share in final quarter of 2007.

related story: http://news.yahoo.com/s/ap/20080129/ap_on_hi_te/earns_yahoo;_ylt=Atg53m4IGo3FHznB.yEV5O.s0NUE

by Zuzana Zelenakova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Scandalous fraud at Societe General by Tatiana Hadarova

The investigation of Jerome Kerviel's case, He trader who is accused of plucking Societe General of about 4.9 billion euros is now full of contradictions and doubtfulnis. Kerviel has been held by french police since last week and yesterday the investigators extended the detention for another 24 hours. Today they must decide wether to release him or place him under formal investigation. Kerviel still denies any wrongdoing and his words are in contradiction with words of bank's management. Societe General has filled the criminal complaint against Kerviel and said that „he had been using falsified documnets and unathorised computer access to cover up failed deals on share futures and hedges worth tens millions of dollars.“ But on Sunday Kerviel's lawyer Elisabeth Meyer accused He bank of trying to create a „smokescreen“ to hide its wider losses caused by the U.S. suprime mortgage crisis. Of course that Societe General has this allegation denied and bank's chairman and chief executive Daniel Bouton called Kerviel „crook, frauder and terrorist“. That case is also special by the fact, that Kerviel was probably the only one involved in this huge fraud and had managed all the false deals by himself. So far, the investigators have not found any evidences of no other accomplicies involved, either external or internal. They were also trying to establish trtader's motives. Societe general said that there has been taken a quick action to liquidate the concerned deals, limiting losses to 4.9 billion euros. Bank's chairman Daniel Bouton said, that „what happened at Societe General is certainly not a disaster that resulted from out strategy. It is more like an accidental fire which destroys a large factory at an industrial plant.“

related story: http://news.yahoo.com/s/afp/20080127/bs_afp/francebankingsocietegeneralecrime_15;_ylt=AqsmadIH3xSdwuA7QBjBWpSs0NUE

by Tatiana Hadarova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

More add-on services for making clients satisfied by Ivana Bruderova

It's about strategy, abilities and creative thinking. Growing of interest in social networks requires from the providers a new ongoing and maximum of flexibility. While some of them for instance Yahoo, Inc. are losing and need to make clear a business strategy other are prospering and still more popular. It is necessary to know your priorities and to choose the right things to focus. A SigEx SuperPBX is a success provider of digital stream broadcasting and social communications telecom networks. Thanks to it's smart strategy becomes the leader among providers of social networks worldwide. In 2007, company recorded high growth of equity, considerable part of it's revenues comes from premium offerings and add-on services. With unlimited free TV and video services and unlimited global calls paying clients can receive much more free services, for instance marketing services. The strategy based on getting much for less money is popular among the people. SigEx Telecom doesn't offer only entertainment, also services for businesses and help in everyday life. "Meet or delete", you have only one chance to interest, and SigEx is with this motto more than successful. May be a secret is in what you offer? , but also in how?. To persuade client no one could give you more and in the way fitting better to you. The right provider sentient his clients, their needs and he is able to forecast what they will need in the future, to keep their account.

by Ivana Bruderova for SigEx Telecom (http://sigex.com)

SigEx Telecom is quickly becoming the leading telebroadcasting communications provider allowing people to easily talk, view, upload and share video clips through free online TV broadcasting, free unlimited global calls, websites, blogs, video-mails and SMS. SigEx Telecom captures many add-on services for its clients generating royalties and fees in a broad spectrum of marketing services including public relations and promotions.

"Who's the bigger man" by Claudia Sonea

The House, responding to the economy's slump, passed on Tuesday a $146 billion aid package that would speed rebates of $600-$1,200 to most taxpayers. It would send at least some rebate to anyone with at least $3,000 in income, with more going to families with children and less going to wealthier taxpayers. Democrats and some Republicans backed a larger package that adds billions of dollars for senior citizens and the unemployed, and shrinks the rebate to $500 for individuals and $1,000 for couples. However such a plan would deliver checks even to the richest taxpayers, who are disqualified under the House-passed measure, according to Finance Committee Chairman Max Baucus. In spite of the negative sides, both projects would boost equipment and other purchases, therefore President Bush and House leaders urged the Senate to take the bipartisan agreement and pass it quickly. Baucus, D-Mont., planned a Wednesday vote in his committee on a larger package that could face a slower path, but Bush said in the Oval Office that it is an urgent matter that can't stand any more delay. The competition between Senate Democrats and Republicans to swell the package with more add-ons could drag out the bill to be passed, although the Congres want to present it until 15 February. Furthermore Senate Majority Leader Harry Reid, D-Nev., said that in the Senate members have elaborate wish-lists for adding to the bill, including food stamps, Medicaid and heating assistance for low-income people and spending on infrastructure projects, among other things, causing the matter to be further dragged. The opinion on the passing of the bill is divided; some senators like Sen. Mitch McConnell, R-Ky., the minority leader, think that reopening the deal would be inappropriate, while others wish to add some more benefits to low income people. This impossibility of getting to an agreement could hinder an economic recovery or scuttle the bipartisan agreement. Pelosi, supported by Rep. John A. Boehner, R-Ohio with whom he forged the agreement Pelosi in consultation with Treasury Secretary Henry M. Paulson, reminded that the bill they put together represents a common ground between the Democrats and the Republicans and overloading it would be risky. Some 111 million people, including roughly 35 million families who don't make enough to pay income taxes would receive rebates. Individuals with adjusted gross income of $75,000 and couples making $150,000 would get rebates equal to the taxes they paid, up to $600 for individuals and $1,200 for couples. At the opposite pole whoever crosses this limit will see the rebate go down by 5 percent of every dollar of income over the limits. For every child all eligible family would get an extra $300. Both projects have $50 billion worth of tax incentives for businesses to invest in new plants and equipment and they both come as a consequence of mortgage crisis. The House bill that it is urged to be signed would raise the limit on Federal Housing Administration loans from $362,790 to as high as $729,750 in expensive areas and it would also boost the cap on loans, thus more subprime mortgage holders would be able to refinance into federally insured loans.

related story: http://news.yahoo.com/s/ap/20080129/ap_on_go_co/economy_stimulus;_ylt=AqUKJJ251t4QPcVwCMVjVnms0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Kerviel claims Societe Generale have known about his trades by Ivana Bruderova

Jerome Kerviel accused for made illicit positions with loss of 4.9 billion euros to SocGen was questioned by police over the weekend. Kerviel confessed this financial operations since 2005, but according his statement it is impossible, SocGen did not know about it. At the end of the last year he cumulated profits about 1.4 billion euros. He knows he had never reached such a profits with only legal operations. "I cannot believe that my superiors did not realize the money I was committing (to the illicit trades). It was impossible to generate such profits with the small position," said Kerviel to police. To counterbalance too high profits he made fictions, loss-making operations, to not to draw attention to himself. Christian Noyer, governor of Bank of France designated Kerviel "genius of fraud" and computer genius" but he says the truth is much simple. "The techniques I used were not at all sophisticated. Any correctly installed system is capable to detecting these operations," he said. As he added all of this made for SocGen. For junior staffer a positions he can take are strictly limited. "Nobody had ever achieved that kind of profit before," said Kerviel. One of the things that could alert the managers was according him the fact in 2007 he had holidays only for four days. Everyone who doesn't want go to holidays is suspect, he doesn't want to leave his book to someone else. It is one of the first rules of internal controls in SocGen.

by Ivana Bruderova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Expanding foreclosure in the U.S. by Lenka Filipova

An industry report form Monday showed an alarming result. More than one percent of all households in the United States are in danger to lose their homes as more foreclosures have been issued throughout 2007. Realty Trac, a research company, said that banks published more than 2.2 million foreclosures in 2007. This represents 75 percent rise when to compare with the prior year. Hence, this brings the information about the slump in the U.S. housing market. It seems that the plunge in the foreclosures is caused by the higher mortgages interest rate, resulting in the monthly payments. Another matter having effect is the repossession of houses and the "new" families do not have finances to deal with the servicing the house. This has forced the administration of US President George W. Bush to ensure that the mortgage plan would be remade, so that approximately $1.2 million will help to relieve the pressure made upon the households. Since 2006 there has been a downturn in Housing market continuing till this time. What is more, it is strengthen due to recent recession worries. In addition to this, the price of newly built houses is so enormous that is showing in decreasing the home prices as there is a surplus of unsold properties. As the Federal Reserve has noticed the foreclosure issue, it arranged a meeting in Washington to rethink the interest rate. The Federal Reserve is expected to cut interest rate once more as it did in September when it abated by a ¾ to 3. The biggest interest rates of foreclosures are noticed within states of Nevada, Michigan, California and Florida.

by Lenka Filipova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Mixed European stocks by Sandra Stoklaskova

The situation on the economic market all over the world is very interesting. Every day we get news from several markets, which are, these days confusing enough. Once European shares increase, than US stock market decrease and Asian economist are afraid of the situation with US home loan market. What the situation looks like now? Let's see. Yesterday was a successful day for European stock market, as it has recovered from early losses, when on Asian market appeared fears that US economy will decrease, and Asians sell off. According to dealers, Asian economist needed top take some profit from the last week pickup, which was the reason why European sellers encouraged, at the opening. This was a successful operation, but there is still a need of reassurance on the markets, mainly after the scandalous fraud in Societe Generale in France, that caused sharp downfall of Paris stocks. Despite the fact, positive showing on Wall Street helped to recover the markets which regained some of the lost ground. Furthermore, investors were curious, what the president of US, George W. Bush, would say on Monday evening, after the agreement on the conditions of an economic stimulus package, made by representatives of white House and Congress. Asian dealers approved investors were looking for some kind of safety, which they have found mainly in bonds and gold, which reached a peak of approximately $927 in London. One trader from London said: "Recent volatility continues with worries over US recession weighing (on sentiment)."

related story: http://news.yahoo.com/s/afp/20080128/ts_afp/stocksworld_080128190213;_ylt=AocOi2CgoaQlWX31YbBEpBOs0NUE

by Sandra Stoklaskova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

SigEx SuperPBX Releases The Annual Financial Report by Milota Sidorova

SigEx SuperPBX, a member company of technology holding company SigEx, Inc., is a continuation of the founders work in high quality PBX systems and numerically intensive supercomputing. One of the SigEx SuperPBX projects is a scheme of enhanced Communication architecture, that operate independently of the networks and devices used to bridge incompatible networks or a delivery system for digital services and products. Company combining revolutionary broadcasting services from big media players with enhanced telecom capacity, including video-rooms, four-way video-conferencing, integrated phone services, SMS communications delivering social network partners' social grids to the user has released the annual Financial Summary report on Friday Jan 2008. According to Frédéric Artru, SigEx President and Chief Operating Officer, it had been a fast-paced quarter for social entertainment properties. Chris Cantell, SigEx Chief Executive Officer declared that his focus was on the 'meet or delete' strategy that continued to drive the network. The storming growth marked the share price, that ended at 2007 at €30.80, matching to the former year result of €14.20, total increase of 117% and 440% from the share price of €5.66 for 2005. Summing equity growth, SigEx has reached a record of €188 Million, that represents a 96% of equity dose from last year. "We are very pleased with how well quality entertainment is offering the ultimate user experience," quoted Cantell. SigEx SuperPBX providing innovative social communication telecom networks, disclosed the financial increase at 2007 of 118% (more than €294 Million) comparing to the former year. The final yield amounts €347 Million.

related story: http://sigex.com/pr/EU_SuperPBX_180108.pdf

by Milota Sidorova for SigEx Telecom (http://sigex.com)

SigEx Telecom is quickly becoming the leading telebroadcasting communications provider allowing people to easily talk, view, upload and share video clips through free online TV broadcasting, free unlimited global calls, websites, blogs, video-mails and SMS. SigEx Telecom captures many add-on services for its clients generating royalties and fees in a broad spectrum of marketing services including public relations and promotions.

Succesful year 2007 for SigEx SuperPBX by Ivana Bruderova

At the beginning of the year companies release their financial results and summary for previous year. On January 18, SigEx SuperPBX,SAS (ISIN: FR0004192540) a French company dealing with digital stream broadcasting announced financial results for year 2007. Due to prosperity and success in the last 2 years, the company is considered to be one of the leading providers of social network sites and Internet live broadcasting. For the year ended September 30, 2007, equity of SigEx raised up to 118% in comparable with the same season in 2006 to €347 Million. The fourth quarter contributed to 19% of the final value. Annual earnings totaled to record €188 Million ,€96 Million in FY 2006, it means increase 96% over the year 2006. The social sites became extremely popular and still more people, and not only students, totally abandoned to it. To be a member of it is quite convenient, because the most of your friends have already been there. When someone wants for instance to show the photo from holidays it's better to send the link than whole photo album by email. Providers still have to bring the brand new amazing things and services to keep their customers. SigEx Super PBX, is provider of social communication telecom networks, with full spectrum of services used in almost all countries of the world, including upload and share video clips through online TV broadcasting, blogs, video-mails, video conferences and integrated phone services.

by Ivana Bruderova for SigEx Telecom (http://sigex.com)

SigEx Telecom is quickly becoming the leading telebroadcasting communications provider allowing people to easily talk, view, upload and share video clips through free online TV broadcasting, free unlimited global calls, websites, blogs, video-mails and SMS. SigEx Telecom captures many add-on services for its clients generating royalties and fees in a broad spectrum of marketing services including public relations and promotions.

Insurances in a tight situation by Claudia Sonea

The UK insurance market is going through a more unsteady situation lately due to a modest reduction in capacity this year created by increasing concerns about falling prices for insurance and reinsurance in many areas of the market. The maximum volume of insurance premiums the market can accept in a single year, based on the amount of its capital backing, would be £15.95bn ($31.64bn) this year, while in 2007 was a record of £16.1bn. It is the first time that capacity has fallen since 2005; however it is less than some analysts had forecasted. Lloyd's cautioned on Monday Lloyd's against reckless underwriting amid worsening market conditions. An increase in capacity, or an insufficient reduction at this point in the cycle, could unease the market, according to some analysts. The key issue is how much of the capacity is actually used, because Lloyd's says it is an indication of how much business its insurers could write and Chris Hitchings, an analyst at Keefe, Bruyette & Woods reveals that a significant amount of capacity had come into the Lloyd's market during 2007. If there would be a comparison of the situation at the end of 2007 with that at the beginning of 2008, the result would show a decrease. Because of rivalry with others insurance markets such as Bermuda and Dublin, with friendlier tax regimes and a lighter regulatory touch, Lloyd's finds in a delicate situation and has to prepare better, especially due the small number of claims under directors' and officers' policies, relating to the crisis in the US subprime mortgage market that it had received. The entire global insurance and reinsurance market is expected to receive as much as $4bn-$5bn claims as a result of the subprime crisis, said analysts at Clear Capital. What will happen next and what can you do as a possible claimer is to search and see. Enjoy!

related story: http://news.yahoo.com/s/ft/20080128/bs_ft/fto012820081842585342;_ylt=ApL6QCl2YaymRny_m1gbg.us0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

The greatest fraud performed for no reason by Martina Harvanova

Humans tend to behave after a strange manner time to time. As it is accustomed, everything we do is an action for a reason. Despite this generally known and accepted fact, there are always some exceptions. Just like in a recently investigated case in France. A trader of Societe Generale, one of the leading financial service groups in the euro zone, is accused of losing 4.9 billion Euros ($7.2 billion) through unauthorized dealing. The biggest-ever trading fraud by a single person is still being investigated, but so far some detected facts are staggering. The act of Jerome Kerviel began when he set up positions in futures linked to European stock indexes and then hedged them with fictitious trades. The entire fraud can have been performed as he hacked into computers and faked e-mails and documents to hide his trades as well as he exploited other weaknesses in controls. He took only four days off last August and postponed a vacation at the end of the year, Societe Generale said. Banks often make trading staff take time off so any concealed positions will become evident in their absence. The issue is deemed a proof of a clear fault in the bank's control systems and a need of tighter regulation of the state too, as both the bank officials and the president Sarkozy acknowledged. However, there is also another striking aspect of the case - the reason of Kerviel's step. As claimed by bank's CEO: "we don't know, we don't understand what drove him to do it." Kerviel's motivations are still quite unclear and therefore the event is a massive shock for the Societe Generale. In fact, the defendant didn't steal anything, take anything, he didn't take any profit for himself. Rather reserved and considerate Kerviel used to be a successful and hardworking employee and as his lawyer said the trader made profits for the bank through 2007and took risky positions like all traders. Our actions don't need to be done for a reason. Sometimes we behave somehow subconsciously, we simply want to achieve some position. Just like Kerviel, we need to prove our ability to reach a particular target or to show how efficient our work can be performed. This case unveiled our every-day behavior. It is just a common move accomplished in an extreme way.

related story: http://www.bloomberg.com/apps/news?pid=20601085&sid=auk00jDKCNA0

by Martina Harvanova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Treasury Secretary Paulson believes in increase of US economy by Sandra Stoklaskova

Economy of United States is one of the biggest and still fastest growing economy of the world. Now the major representatives face the dilemma of accepting or rejecting the stimulus package. The global economy was last weeks in a recession, which was caused by the sharp decline in US housing sector. This fact affected the whole world and, for sure, mainly the US monetary economy and financial institutions. Major representatives believe, that the economy of Us will be going on with its increasing trend, but they also know, that this is the time to implement emergency stimulus package. "I believe that the economy is going to continue to grow," said US Treasury Secretary Henry Paulson. Even though, he added: "We all acknowledge the risks to the downside, and the cost of doing nothing is too great. That is why it is so important that the Senate move very quickly to pass this bipartisan agreement." On Thursday, The White House and the leaders of the House of Representatives, come to agreement on a plan worth approximately $150 billion, that should be a stimulus to regenerate the US economy from the sharp decrease from the last weeks. The package is now being discussed in the Senate, where talks continue on whether to set the bill on or make some improvements. The representatives of Senate hope, that until February 15, the bill would be set forward for the president's signature to the White House.

related story: http://news.yahoo.com/s/afp/20080127/ts_alt_afp/useconomypaulson_080127144303;_ylt=AuT7ubJpuf88Ru46gtr0b5as0NUE

by Sandra Stoklaskova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Bernake put & the biggest rate cut in last twenty years! by Milota Sidorova

After a shaky week for the US property market, an emergency U.S. interest rate cut fetched perceptions the Federal Reserve has a bias to it. The situation became worse, when sales of existing homes reached the bottom in last two years in July, and the new home sales fell down 22% on last year. It indicates bad news for the debt laden US consumer. Tuesday Jan 22, US central bank was obliged to make the biggest rate cut in last two decades, after huge losses in stock market on Monday. Morgan Stanley economists Richard Berner and David Grenlaw wrote on Friday, transmitted to Ben Bernake, the current chairman of the central bank, "Disclosures that unwinding of rogue trades also contributed to the weekend meltdown have nurtured perceptions that a new 'Bernanke put' has appeared," According to the Telegraph, there are two possible readings of the Fed's decision, either something unclear in the woodwork, or Wall Street's cheap money addicts had simply been handed one more fix for their catastrophic habit. Still there is a lot of critics by a virtue of Greenspan put, unofficial named according to the last Fed Chairman Alan Greenspan, who maintained the policy of lowering interest rates to help the markets stabilize. Federal Reserve aiming to avoid of an image of bailing out investors and an effort to help markets function smoothly had made firm steps from market turmoil from August. Bernake claimed on a central bank gathering, that it was not the responsibility of the Federal Reserve to protect lenders and investors from the consequences of their financial decisions. "But developments in financial markets can have broad economic effects felt by many outside the markets, and the Federal Reserve must take those effects into account when determining policy," he quoted Morgan Stanley's Andy Xie continues: "When inflation happens, central bank pampering is supposed to stop - like doting grandparents running out of money. However, a new trick is being discovered to fill the hole. The data-dependent Fed suddenly wants us to ignore current inflation and focus on a future with no inflation."

related story: http://news.yahoo.com/s/nm/20080127/bs_nm/usa_fed_stocks_dc;_ylt=AuTEio74_FqxyU1GrtPHzxas0NUE

by Milota Sidorova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

A thrilling week at Wall Street by Ivana Bruderova

A very difficult and thrilling week is beginning at Wall Street. After it recovered from the losses two weeks ago now the answers for decisive questions are expected. In Monday night president Bush will make his State of Union Address. If the proposed $150 billion tax rebate is not approved by Congress, the market will be worried about American's spending again. In Wednesday, Federal Reserve will finished it's meeting and released it's decision if cut the rates again or not. At last in Friday the investors will receive data, how the economy fared in January. The largest bank on Wall Street, Dov Jones reported losses 8% since the beginning of the year and this January could be the worst since 1960 for them. "If we are not at a bottom we are probably very close," said Antony Conroy managing director and head trader for BNY ConvergEx Group. But he believes, there is no reason to be afraid of total recession because the market is mercurial and many important data and answers just have been expected. This week,many large companies will report their earnings such as American Express Co. MacDonald's Corp., Verizon, Exxon Mobil Corp., Starbucks Coffee. Co., homebuilders Centex Corp. and Pulte Homes Inc. as wall as the Internet companies Yahoo Inc. and Google Inc. On Monday are expected data of December new home sales,on Wednesday the first estimate of four-quarter gross domestic home product and this are only few news the Wall Street is waiting for this week.. Since the World War II. there have been 11 recessions, lasting for 10 months but Wall Street needed six months to overcome it.

by Ivana Bruderova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Robust eurozone by Lenka Filipova

It was assumed by market analysts that European Central Bank will follow exactly the same steps made by the Federal Reserve last week. However, this is not going to be the case. As the original idea of European monetary union was to be as independent as possible from the US, the ECB is not planning any cuts until it will be the necessity of a domestic inflation. The ECB's decision is based upon two major judgments, respectively. Firstly, it is determined by a staff forecast for inflation and growth every four months. The inflation range from December's staff projection was from 1.2 to 2.4 percent for 2009, which is a result of optimistic predictions like a decrease in raw material and energy prices this year. Thus, there is no reason for a rate cut in this year when looking at the nowadays staff predictions. ECB considers another important aspect that is confidence survey. Despite the managerial surveys that were noticing the downturn, the rise in German's Ifo index showed the tough German economy last week. Secondly, the decision is determined by the monetary analysis done every four months. It is provided by a compound of judgmental analysis and statistical methods. From this monetary analysis it has become well know that the credit generation in the eurozone is significantly ascending till the end of November. Even though, the assessment from December is still not noted, the financial crisis has no visible impact on credit flows. In addition to the analysis of monetary and financial balance, it has been proclaimed that the eurozone banking sector is not only vital but is enriching the economy with ample funds. All in all, there are huge differences among eurozone and the US and the UK. Eurozone brought no reduction in house prices, no subprime crisis, and no monocline insurers. What is more, am unsustainable tightening in lending was not only essential but it was also highly welcome. Eurozone is strong enough to bear any downturn and there should be no expectations to make eurozone do any rate cuts.

by Lenka Filipova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Economy on the edge by Claudia Sonea

On Tuesday it took place the fourth rate cut for the Fed since mid-September, when it first cut interest rates from 5.25% and it is the result of the unemployment rate that increased a lot (in December from 4.7 % to 5 %), of a decline in factory activity and in consumers spending (retailers complained about a poor holiday season), and especially of the sluggish mortgage market. It is for the first time since Sept. 17, 2001, the day stock markets reopened after the 9/11 terrorist attacks, the Fed cuts interest rates outside its regular meeting schedule. The policymakers met via video conference Monday evening and took the decision that was not unanimous and met strong opposition from St. Louis Fed President William Poole. In spite of the fact that it's the biggest cut in 18 years, there is no guarantee of solving the economy's issues and for savers means lower returns on their money. Furthermore, as a consequence of the cut, there has been a plunge in financial markets around the world, as foreign investors expressed alarm about a possible recession. From the statement of Fed Chairman Ben Bernanke and his colleagues many financial analysts concluded that they do not exclude the possibility of another rate cut that could be decided as early as next week, when Fed policymakers are scheduled to gather in Washington. After Fed's announcement, lenders cut the prime rate for their best customers by three-quarters of a percentage point to 6.5% and that underlines the entire purpose of the cut: to encourage financial institutions to keep lending money to businesses and consumers, rather than fuel an economic downturn by limiting credit. Due to the rate cut, there will be greater availability of credit to consumers and businesses, especially after the decline in available credit for some types of lending. On the other hand banks that had huge losses might ignore the break given and be cautious about extending credits, according to Mark Zandi, chief economist at Moody's Economy.com. By facilitating the lending, Fed gave a boost to consumer spending, which accounts for more than two-thirds of U.S. economic activity, and also to businesses that can fund investments as well as their day-to-day operations, including paying their workers. Nevertheless, the rate cut also means that they fear the recession and they see it like something most probably to happen, according to Vincent Reinhart, former director of the Fed's division of Monetary Affairs who is now at the American Enterprise Institute. The last recession was in 2001 (March-November), but it was the shortest of the US history. Getting back to what really interests you, the rate cut affects the consumer by loosening the mortgage market (equity loans fall from 7.74% at the first of the year to 7%, while fixed mortgages had fallen to 5.87% last week from 6.07% the first week of January), the credit cards' rates (a drop to 13.1% from 14% in September), and also lower rates on auto loans that in the next few weeks can be accompanied by special-financing deals (that will not be available for borrowers with poor credit). A good portfolio would be: 40% bonds and 60% stocks if you are looking for a long-term investment like retirement. The economy has finally got into Bush's attention who managed to squeeze in his agenda a speech about the economy and how to maintain calm and try to cooperate in order to restore order. What will happen next? Stay connected and you will find out.

related story: http://www.usatoday.com/money/economy/2008-01-22-fed-cut_N.htm?csp=1

by Claudia Sonea for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

SigEx Telecom reported high growth of equity in 2007 by Ivana Bruderova

A news release of SigEx Telecom, the French company having it's branch offices in several U.S. states revealed an high equity growth in 2007. The company reported total equity of €347 Million for the year ended September 30, 2007, it means growth of 118% in comparison with the same period of the year 2006. At the end of FY 2006 a share price was evaluated to €14.20, share price ended FY 2007 increased of 117% at €30.80. In comparison with the year 2005, total growth presents 440% from the share price€5.66. Equity growth of FY 2007 was specified to 96%, €188 Million, over FY 2006 equity growth of €96 Million. Equity growth for the last quarter 2007 was €98 Million, up 27% from the last quarter 2006 of €77 Million. The SigEx Telecom is provider of social and communication site on Internet. Through live TV broadcasting offers possibility of viewing, sharing and uploading of video clips, blogs, video mails, four-way video conferences, video rooms, integrated phone services and much more. The company became a leader among the communication sites and it's products are used all over the world in almost every country. The success of SigEx Telecom SuperPBX is in combinating of revolutionary broadcasting services from big media players with really high telecom capacity. "We are very pleased with how well quality entertainment is offering the ultimate user experience." said Chris Cantell, SigEx Chief Executive Officer.

by Ivana Bruderova for SigEx Telecom (http://sigex.com)

SigEx Telecom is quickly becoming the leading telebroadcasting communications provider allowing people to easily talk, view, upload and share video clips through free online TV broadcasting, free unlimited global calls, websites, blogs, video-mails and SMS. SigEx Telecom captures many add-on services for its clients generating royalties and fees in a broad spectrum of marketing services including public relations and promotions.

Obchodník obral banku o takmer 5 miliárd eur by Tatiana Hadarova

Francúzska polícia takmer týždni zadržala obchodníka Jéroma Kerviela, ktorý obral jednu z najväčších európskych bánk Société Géneral približne o 4,9 miliardy eur, čo je v prepočte takmer 164 miliárd SKK. Podvod sa podarilo odhaliÅ¥ minulý týždeň. Podľa tvrdenia banky sa ich zamestnancovi Kervielovi podarilo spreneveriÅ¥ danú sumu postupne počas rokov 2006 â€" 2007, pričom zneužíval bezpečnostný systém banky, ktorým sa mu podarilo zakryÅ¥ jeho fiktívne transakcie kryjúce stratové pozície. Parížska prokuratúra už začala vyÅ¡etrovanie na základe troch žalôb, z ktorých jednu podala samotná banka a dve malí akcionári. Presné miesto, na ktorom sa Kerviel zdržiaval nebolo až doposiaľ známe, hoci jeho právnička Elisabeth Meyer tvrdí, že jej klient nie je na úteku, ale sa naopak snaží spolupracovaÅ¥ s vyÅ¡etrujúcimi orgánmi. Šéf Société Génerale Daniel Bouton sa pre médiá vyjadril ,že Å¡kandál nie je príčinou strategických chýb spoločnosti a katastrofu prirovnal k „náhodnému požiaru, ktorá zničil len jednu prevádzku továrne.“ Taktiež poprel fámy, že sa banka snaží „hodiť“ na Kerviela aj straty, ktoré utrpela už predtým. ĎalÅ¡ou zarážajúcou vecou na celom prípade je, že sa sprenevera takých obrovských rozmerov podarila uskutočniÅ¥ len jednému obchodníkovi. Prvé poplaÅ¡né signály priÅ¡i údajne v januári z Nemecka, keď si firma Newedge zabezpečujúca obchody pre Société Géneral na nemeckom trhu vÅ¡imla stratu 2 miliárd eur, vtedy už zapríčinenej Kervielom a jeho transakciami. Celý prípad je dnes prirovnávaný ku Å¡kandálu obchodníka Nicka Leesona, ktorý pripravil britskú banku Barings o 1,5 miliardy amerických dolárov, čo neskôr v roku 1995 viedlo k jej úplnému bankrotu. Analisti tvrdia, že táto epizóda môže maÅ¥ pre banku so 144-ročnou tradíciou v budúcnosti eÅ¡te neblahé dôsledky.

related story: http://news.yahoo.com/s/nm/20080124/bs_nm/socgen_dc;_ylt=AmKBdYwfqo4VWt8PeFxIFWSs0NUE

by Tatiana Hadarova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

SigEx on the rise by Zuzana Zelenakova

On 18 January, 2008 SigEx SuperPBX, SAS released its financial results for FY 2007. And it definitely proved the company's rising tendency by significant equity growth. It is quickly acquiring the leading position in the digital stream broadcasting offering wide range of services including websites, blogs, video clips and SMS enhanced communications from cellulars to the Internet. "Our focus on the 'meet or delete' strategy continues to drive the network," said Chris Cantell, SigEx Chief Executive Officer. The company's reported total equity for the year 2007, ended September 30 was 347 million in euros, which represent 118 percent increase as against FY 2006. Also share price soared at 30.80 euros, which is 117 percent increase in comparison to the FY 2006. The equity growth in FY 2007 totaled 118 million euros, which represents 96 percent increase compared to the previous year. The reason for this improvement is ongoing expansion of partners' social networks. SigEx is undeniably on the rise, expanding the staff, keeping up with user growth and being ahead of the competition. Its services used by people in almost every country in the world.

by Zuzana Zelenakova for SigEx Telecom (http://sigex.com)

SigEx Telecom is quickly becoming the leading telebroadcasting communications provider allowing people to easily talk, view, upload and share video clips through free online TV broadcasting, free unlimited global calls, websites, blogs, video-mails and SMS. SigEx Telecom captures many add-on services for its clients generating royalties and fees in a broad spectrum of marketing services including public relations and promotions.

Tax rebates deal in the process of negotiation by Milota Sidorova

WASHINGTON & Adventitiously quick and intensive negotiations of squeamish question of tax rebates between Congress and the White house took place on Thursday Jan 24,2008. The new obligation should affect the most tax filers by next spring and is expected to be an impulse, that should bring the lame economic to the life. Rebates as the main point of an agreement have to bring about $150 billion into this year's economy and probably reverse the first slump since 2001. Almost $100 billion should impact million of households, depending up to their incomes, tax payments, a number of children etc, while the business sector would gain over $50 billion in incentives to invest in new plants and equipment. According to the schedule of tax rebates that plans to shed the score, individual taxpayers would get up to $600 in rebates, while working couples $1,200 and those with children an additional $300 per child under the agreement. The one time support is planned even for the working households, that earn at least $3,000 but don't pay taxes. President Bush is convinced that this package would lead to higher consumer spending and would increase business investment. This agreement raised eyebrows of many Democrats, including Charles Rangel, Ways and Means Committee Chairman, D-N.Y, who suggest the government just dropped out the increases in food stamp and unemployment benefits in exchange of tax rebates. According to his opinion, the plan is unfair to groups of people without work. "I do not understand, and cannot accept, the resistance of President Bush and Republican leaders to including an extension of unemployment benefits for those who are without work through no fault of their own," he quotes. If the negotiations will go smooth way and Senat will declare this obligation, the first tax rebates payments will be going out in May, so they will be available for most of the people in July.

related story: http://news.yahoo.com/s/ap/20080124/ap_on_go_co/economy_stimulus;_ylt=AmrfR0kEgnYsBCbkF6oz1Sas0NUE

by Milota Sidorova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Is SocGen the reason for stock market turmoil? by Zuzana Zelenakova

On Thursday, French bank Societe Generale exposed a fraud that cost it shocking $7 billion performed by a Paris-based junior trader. Just now everyone is wondering whether there is some connection between the SocGen case and the tumultuous situation on stock markets from Monday, which subsequently led to US Federal Reserve slashing interest rates aggressively on Tuesday. The fraud makes even the most famous rogue trader Nick Leeson's $1.4 billion rather insignificant in comparison. According to the company the rogue trades were made in 2007 and 2008. The bank announced that the fraudulent positions, which were discovered and investigated on January 19 and 20, had been closed as soon as possible. As a result a new light has been thrown on huge declines in European shares on January 21, when the value of top German, British and French shares lost over $350 million. "The huge amount of futures selling could be one reason why markets fell off a cliff on Monday, and maybe that was an ingredient in forcing the Fed to bring forward part of its interest rate cuts," said Andrew Bell, European strategist at Rensburg Sheppard. A Fed source later said that the bank had no knowledge of the fraud when it was making the decision about rate cuts on Monday.

related story: http://news.yahoo.com/s/nm/20080124/ts_nm/socgen_markets_dc;_ylt=AraKtgcr9YBa70eTePQ2aVys0NUE

by Zuzana Zelenakova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Trader gets away with 4.9 billion euro fraud by Claudia Sonea

On Thursday a 4.9 billion euro fraud went public. Bank Societe Generale, a French banking giant, stated to the press that one of their traders, 31-year-old Jerome Kerviel, who had worked at Societe Generale in Paris since 2000 and had been on the trading desk since 2005, committed one of the biggest fraud in the financial history. That was a blow in the already unstable situation of the bank. Societe Generale chief executive and Chairman Daniel Bouton said the trader managed to pass through all control procedures using sophisticated measures. As one of the three biggest banks in France, BRD sued Kerviel with the allegations of falsifying bank documents, using falsified bank documents and unauthorized computer access. However, they will have to deal scores of shareholders that sued them for fraud and misconduct, while Bouton and his deputy Philippe Citerne, whose resigns were rejected, will give up their salaries for the next six months and all bonuses from 2007. At the bank's requests all trading in its shares was suspended (stock closed 4.14 percent down on news of the fraud and a 2.05 billion euro loss in the US subprime mortgage market) and the amount of losses leaves them with a 600-800 million euros profit, thus they will actually need a capital increase of 5.5 billion euros to restore its balance sheet. French Prime Minister Francois Fillon stated at the World Economic Forum in Davos that even though the fraud is a serious matter, it does not affect in any way he current situation on the global financial markets. Finance Minister Christine Lagarde confessed that she predicted something like this happening and that is why she requested the country's banking regulator to bring in tougher controls in response to the scandal. Still, no one thinks the trader was acting on his own and that he managed to get away so much time. Elie Cohen, a professor of economics at the Paris Institute of Political Studies, Arnaud Riverain from the private firm Arkeon Finance and other financial experts were rather against the idea of a trader acting alone, especially after the human resources official added that he was rather frail and lacked in imagination. It is not a unique case; the international finance industry registered a decade of rogue in 1998 trading which cost the Sumitomo Corporation of Japan 2.6 billion dollars, while in Britain Nick Leeson caused the bankruptcy of Britain's Barings bank. Allied Irish Bank faced the fraud of 2002 when John Rusnak, a trader, got away with 750 million dollar and a 7 and-a-half years of imprisonment. All is old and all is new, said a Romanian poet. You should start worry if you have money at BDR. Until next time, take care.

related story: http://news.yahoo.com/s/afp/20080124/bs_afp/francebankingsocietegeneralecrime_080124210445;_ylt=AsjbAKkcY3s9yp0gje.sFLys0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Stockbrokers around the world - always prepared by Barbora Misakova

First of all I have to admit I am not very good in numbers and economy is probably one of the most complicated topics for me. I am trying to read newspapers a lot and watch TV just to get into it, just to know this sector better and understand it more, but all my efforts are probably useless. Every time I read something about all those shares and indexes I am just not able to imagine clearly what exactly all this means and what are those stockbrokers doing with it. I am always wondering how they can understand to all these numbers and diagrams and I admire them a bit. Fortunately there is still one or two good-hearted people who write about the situation in the way I I am able to understand, at least a little bit. According to my information after dramatic problems on American Wall Street it looks on brighter times. Situation on European stocks calm down a little bit and stocks in the rest of the world started to raise again. Although losses in Europe were massive, the main stock markets were higher anyway & London's FTSE 100 index jumped 4.75 percent, Paris's CAC 40 index rose 6.04 percent and Frankfurt DAX is higher 5.93 percent. Situation on Asian stocks looks a bit different. The elementary growth of indexes changed and they started to decrease again. While situation on Tokyo's stocks looks fine - Nikkei-225 had its index higher 2.06 percent, then it fell under the key level again. This growth of indexes probably stopped the note of Angelo Mozilo, the chef of American Coutrywide Financial Corp., who said that decrease of housing construction in USA can lead to economic recession. Situation on Wall Street is improving very slow but little development we can already see there too. The Dow Jones Industrial Average rose 0.04 percent, the tech-rich Nasdaq rose 0.76 percent and Standard & Poor gained 0.14 percent. Although the situation is better than it was few days ago talking that problems are over is too soon. The US markets has positive affect on Asian markets, but there is no reason to talk about the stabilization. All stocks around the world are carefully monitoring situation and expecting other fluctuation.

related story: http://news.yahoo.com/s/afp/20080124/bs_afp/stocksworld_080124195700;_ylt=AqILFCTJjDiyqlM_IyWRKRCs0NUE

by Barbora Misakova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Nie najlepsia cesta ako prist k peniazom. by Zuzana Valkova

V skutocnosti je vela moznosti ako k nim prist. Najlepsia je praca. Ale pre vela ludi to nie je najjednoduchsi sposob. Tak sa snazia prist po peniaze inak. Skratka si ich zoberu, je uplne jedno kde, moze to byt od rodiny, od priatelov, od cuzdich ludi, aj od nejakej firmy alebo dokonca z banky. To je to miesto, kde je vzdy dostatok penazi. Terajsi zlodeji poznaju uz vela sposobov ako si peniaze zobrat, bez toho aby ich chytili. Nekradnu uz staromodym spodobom, ale robia podvody. Prave v tychto dnoch bol objaveny jeden z najvacsich bankovych podvodov vobec. Mlady muz okradol francuzku banku, v ktorej pracoval, o viac ako 4 milony Eur. Osoba ako on musi byt chytra a velmi opatrna, aby bola schopna zobrat peniaze bez toho, aby to hned zistili. Bola som prekvpena kolko sposobov "kradnutia" existuje. Nejdem vam vysvetlovat postup kazdeho z nich, len vam poviem o niektorych. Investicny obchodnik, tak ako bol aj ten Francuz, je zamestnanec banky, ktory investuje na nebezpecnych trhoch. Banka o tychto nebezpecnych trhoch nevie, takze on si moze nechat peniaze, ktore tymto zarobi, ale tiez sa moze stat ze o vsetky pride. Falosne pozicky su pozicky pre ludi, ktori niekedy ani neexistuju, takze peniaze idu osobe z banky. Spojena s tym je aj kradez identity, co znamena ze niekto si zoberie vsety vase udaje a pouzije ich na svoj prospech. Online podvod sa moze stat ak sa niekto dostane k dolezitym informaciam alebo heslam, takze moze peniaze odoslat kamkolvek na svete. Velmi casty je podvod v dokumentacii, alebo podvody so sekmi. Tieto mozu ohrozit aj vas, takze budte opatrni.

related story: http://news.yahoo.com/s/afp/20080124/bs_afp/francebankingsocietegeneralecrime_080124210445;_ylt=AiIS8Z8FMlpFyOCCmZ1n13.s0NUE

by Zuzana Valkova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

38th annual World Economic Forum in Davos welcomed delegates in Wednesday by Ivana Bruderova

This Wednesday, the world's political and business elite began to talk about the most delicate problems on the 38th annual World Economic Forum in Davos, a Swiss ski resort. 27 heads of state and 113 cabinet ministers focused for instance to the question of influence of American economy to economic growth the rest of the world. A US Secretary of State Condoleeza Rice told to delegates at the opening ceremony she understands to worries of the states of Asia and Europe but "the US economy is resilient, its structure is sound and its long-term fundamentals are healthy." The program of the Economic Forum is rich and no important topic will be neglected. To the main pillars belongs also "Competing While Collaborating"- dealing with lasting globalization, "Exploring Nature's New Frontiers"- advances in science and technologies and how to solve problems such as climate change, aging society, disease eradication and many others. But the participants of the Forum are not only politicians and presidents. In these days you can meet there also Emma Thompson, the British actress, Irish rock singer and eternal anti-poverty campaigner Bono or global warming campaigner Al Gore. The World Economic Forum in Davos will last until January 27, 2008. The program of following days include prospect for peace in the Middle East, terrorism and nuclear proliferation. But the most important Davos question, addressed to everyone is: " What one thing do you think the countries, companies or individuals must do to make the World the better place in 2008?" Just try to think about it for one moment.

by Ivana Bruderova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Free online music on Yahoo by Sandra Stoklaskova

Great news for music fans! These days, representatives of Yahoo .Inc are discussing new project with major record companies. This project is based on streaming unprotected MP3s for sale or for free, as a part of their services, offered to people all over the world. Yahoo is planning to begin with this service during this year, when they will come to agreement with representatives of record labels. According to anonymous executive of Yahoo, they are negotiating approximately one month and they are still working out details. He asked for anonymity because these discussions are confidential. This idea is not a unique one, as in last months has also Amazon.com began supplying MP3 music for sale. They are cooperating with companies as Universal Music Group, Warner Music Group Corp., Sony BMG Music Entertainment and EMI Group PLC. One of the reasons, why Yahoo want to provide this kind of service is, that MP3 files are compatible with most portable music devices such as iPod, Zune and also some mobile phones. The goal of future talks of Yahoo representatives and those from record labels is to come to agreement about offering music without copy protection, said Carrie Davis, spokesman of Sunnyvale. Presently, Yahoo offers free streaming audio, Web radio, music videos and also provides music subscription service and Internet radio service. They believe to make a bargain with record companies and offer us this additional service, soon.

by Sandra Stoklaskova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Global markets still in turmoil by Zuzana Zelenakova

Even after the US Federal Reserve cut interest rates on Tuesday to prevent the country from sliding into recession, global market remains in turmoil. The biggest cut in 25 years was supposed to be the answer to worsening employment and housing conditions in the United States. The bank executives made the decision by means of a telephone conference call. While Wall Street experienced rebound on Wednesday and closed with a gain of 289.89 points, European stocks faced the reverse after European Central Bank decided not to allow an early rate cut of its own. By the close, London´s FTSE index was down 2.28 percent at 5,609, France´s CAC 40 slashed 4.25 percent to 4.636. Germany´s Dax fell down 4.88 percent to 6.439. President of European Central Bank Jean-Claude Trichet stated in his speech that the best the bank can do right now is to target inflation in the Eurozone, or in other words, European interest rates are not about to come down. However, Asian and Australian markets were calmed by Fed´s rate cut. India shares increased by five percent, Honk Kong gained 10.7 percent and Tokyo 2.04 percent by the close. Other global markets were characterized by volatility.

related story: http://news.yahoo.com/s/afp/20080123/bs_afp/stocksworld_11;_ylt=AuXaRrKzu0L6G5kk8HBSDsOs0NUE

by Zuzana Zelenakova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Fraud in Societe Generale by Sandra Stoklaskova

Horrible piece of news rounded the world today! Societe Generale, one of the biggest banks in France brought to light one of the history's biggest defalcation. Second largest French bank uncovered $7.14 billion fraud, and assume 5.5 billion Euros what is approximately $ 8.02 billion losses in new capital. The fraud was detected during the weekend at French markets sections. Janine Dow, senior director at Fitch Ratings financial institution group in Paris, said: "Detecting the fraud over the weekend was problematic because world stock markets on Monday and Tuesday fell hugely around the world." According to executives, the clever man is a French trader, 30 years old, who acted alone. "The trader's motivations were irrational and he may not have benefited directly from the fraudulent deals", said CEO Daniel Bouton. The trader was fired and his superiors have left the group. Shares in Societe Generale lost nearly half of their value, due to bad situation on financial markets and dropped on Tuesday morning by 5.5 percent to 74.77 Euros. This fraud is considered to be the largest ever by a single trader. It has also outmaneuvered the bankruptcy of British bank Barings, which collapsed after Nick Leesons lost of 860 million pounds on Asian future markets. Leeson was a general manager of Singapore bank, and his lost was worth $1.38 billion. "It shows that we are in a very troubled period for banks, and I think that it's in such troubled periods that difficult things happen", said Gilles Glicenstein, president of asset management at rival French bank BNP Paris

related story: http://news.yahoo.com/s/ap/20080124/ap_on_bi_ge/france_societe_generale_fraud;_ylt=Aj_reVd0dxJsh7LG7DjMP.Gs0NUE

by Sandra Stoklaskova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Win-Win by Kamila Moravcikova

Everyone who watches TV, reads newspapers, listens to the radio or just talks to other people and is not blind or absolutely separated from the world all around had to notice that the US economy was having extremely hard time (and the other economics all around the world as well as we live in "connected" world, being influenced by every significant market swing) with people being not able to pay their mortgages, weak dollar and stock market performing inefficiently. You may know what's happening, though you may not know the reason why it is happening (and unless you are an economist it's really difficult to understand the mysterious system that's being called economy). Maybe you have heard about president Bush's "rescue package" including emergency tax cuts and rebates, unemployment benefits or food stamps. How could be those actions helpful? Who knows? Not me. All I know is that we all have to trust they will work and help to get out of this unfavorable situation and it won't last ages. Well, everyone who watches TV, rads newspapers, listens to the radio or just talks to other people and is not blind or absolutely separated from the world all around had to notice that something really unusual happened. Reps and Democrats are cooperating, trying to find the best solutions together as they both want to rescue American people from suffering. So considerate. Is that just dream coming true? Wonder? Magic? Miracle? Election Day coming soon?

related story: http://news.yahoo.com/s/ap/20080123/ap_on_go_co/economy_stimulus;_ylt=Ai1aLSwhzNsN_flo16YiKums0NUE

by Kamila Moravcikova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Wall Street - the inevitable recession? by Ivana Bruderova

It seems to be very difficult period for the U.S. economy. After a short time of growing since November 2007 to December 2007 a new source of disappointing became the data from the largest banks on Wall Street such as Goldman Sachs. On Wednesday 16, the largest U.S. banks and financial institutions revealed earnings, so impatiently expected by analysts. But the results are not satisfactory. The latest news showed in the end of 2007 people had troubles with payments for everything from credit cards to cars, which means serious loss for banks. Another problem and one of the most warnings is extreme rise of unemployment rate which in December reached 5 percent from 4.7 in November. While in the last year analysts were talking about recession with the chance 1-in-3, nowadays it's 50:50. They compare situation with those in 2001 and 2002. Moreover, the market still has to deal with mortgage crisis and it's consequences. A prices of houses have fallen an average of 8 percent nationwide and people are nervous, they don't know what will happen tomorrow. The reason of payment troubles is undoubtedly higher cost of energy and food which the customers have to deal with. In 2007 the prices jumped 4.1 percent, which is the biggest increase in last 17 years. The agency's data showed the spending in Holiday season was poor, comparable with the year 2002. There are several prognoses how it will continue, each day can bring a positive or negative news.

by Ivana Bruderova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Impacts of the Fed interest rate cut by Lenka Filipova

This early morning the Federal Reserve announced an emergency cut in interest rate. After resumed Tuesday Wall Street did its best to join in the plunge, but by finishing down by 465 points, the Dow Jones industrial average redeemed a loss of 128.1, or 1.06 percent, at 11,91.19. Previously before trading, the Fed cut its benchmark federal funds rate by 0.75 percent to 3.5 percent. Moreover, it cut the discount rate that is directly charged to banks to 4 percent. This was the response to an international stock sell-off and to all worries about a feasible U.S. recession. For the future market, that is going to be held on the following Tuesday, it is estimated that the Fed will make a cut of approximately a 0.5 point. The cut was accepted by the majority of traders but the policy of the Fed was somehow not understood that it made the call between regularly scheduled meetings of its policy-making Open Markets Committee. The long-term recovery is guessed to be attributed to comeback of the housing recovery and improvement of customer's sentiment, which makes up the crucial part of U.S. economy. The reduction in interest rates is a tool the Fed is using to make a recovery in economy. It should retrieve economy in a way that it will provide it more available, meaning more cheaper, for the business to borrow money. However, the effect is not so conducive for housing. It has mainly to do with the worries about most of adjustable-rate mortgages which are continuously increasing, and also home prices that are thought to be falling this year. The Bush administration has assumed the package for $145 billion in tax cuts and the plan to stop plummeting of mortgage. After the Fed intervention it promised to maintain the arrangement. As Dana Perino, the pres secretary, said "I am not going to close off any dors."

by Lenka Filipova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

Volatility continues by Claudia Sonea

Wall Street continues it's plunging and the investors' question about when it's going to end is answered by analysts saying that time will solve it all. The market can not be cooled off especially because there has been no piece of economic data, no corporate earnings report, no move by the Federal Reserve and no government tax plan. However the recent slides might be seen as buying opportunities by bargain hunters, especially due to news like a hefty interest rate cut or better-than-expected profits at the nation's big-name companies. In spite of financial results from multinational companies that make up the Dow Jones industrials â€" Microsoft Corp., AT&T Inc., Johnson & Johnson, Pfizer, Caterpillar Inc. and Honeywell International Inc. that could lead to short-term gains, investors are not yet confident into buying. Arthur Hogan, chief market analyst at Jefferies & Co. explains that there is nothing to confirm their moves, not even expectations of better news. Furthermore, last week there was negative news from Philadelphia Fed, dismal home construction data from the Commerce Department, a worse-than-expected profit at Intel Corp. and historic losses at Citigroup Inc. and Merrill Lynch & Co. Hugh Johnson, chief investment officer of Johnson Illington Advisors, revealed that S&P 500 operating earnings growth was lower in the third quarter of 2007 than in second quarter, and is sure to be lower in the fourth quarter of 2007 than in the third. And last week results when its index dropped 5.41 percent confirm Johnson's statement. Also, more profitable banks, such as JPMorgan Chase & Co. and Wells Fargo & Co. made public problems in a wide swath of consumer credit, from home equity loans to auto loans and credit cards. On 29-30 it will be the Fed's meeting on interest rates and Martin Luther King Day on Monday, a market holiday, is supposed to forecast some of the future economic reports. The Labor Department reports about the jobless sector and the National Association of Realtors' report on December sales of existing homes will be on close supervision. Economists assure that there is nothing to do than to wait and see what will happen next. Stay connected!

related story: http://news.yahoo.com/s/ap/20080121/ap_on_bi_ge/wall_street_week_ahead;_ylt=AkTKVJzOvrDrpbOS.nxv0kas0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.