Goldman can expect a thorough inspection in Britain and Germany after the court

Goldman Sachs Group Inc. Britain faces a "reconnaissance" of regulatory bodies and candid attention from the German government after the Commission on the Securities and Exchange Commission (SEC) passed in the U.S. court case against the company for fraud in connection collateralized debt obligations.

Politicians who were forced to rescue its banks during the financial crisis, turning their attention to Goldman, knowing the contribution of the company in turmoil in financial markets and manipulation in order to pay. The EU also explores the role of Goldman in the creation of swaps for Greece, which could mask the deficit country.

"It looks as if people were misled," - said Gordon Brown.

The Commission on the Securities and Exchange Commission also said that Goldman misled investors IKB Deutsche Industriebank AG about the role of Paulson in trade.

IKB became the first victim of Germany's subprime mortgage crisis in the U.S. in 2007 after their investments and securities were impaired.

"The German Government will ask the Commission for additional information, and when we get the data, then consider possible legal action" - said Ulrich Wilhelm (Ulrich Wilhelm), spokesman for Merkel.

At Goldman Sachs warned that "provided detailed information" IKB about possible risks associated with mortgage-backed securities. 

 

 

Bloomberg

Dollar Hits 3-Week Low Vs Yen On Financial Sector Concerns

The dollar struck a three-week minimum against the yen due to the sale of hedge funds, as many fear that the charges against Goldman Sachs charges may affect the ordinary shares and American interest rates this week.

The dollar may fall further against the yen in the coming days, if the fall campaign will go down on growing fears that U.S. regulators may extend the "feeling out" financial institutions - dealers said.

In early Asian trading week the dollar fell to 91.83 yen, its lowest level since March 25.

While perhaps the majority of companies involved in small business, the amount will report better-than-expected profits, many well-known names did not meet expectations "- said David Forrester (David Forrester), currency analyst at Barclays Capital. It can also drag a higher yield, riskier currencies like the euro, lower against the yen - the analyst said.

At the same time, there are rumors that the Chinese government may soon allow the yuan to rise against the dollar, which could become an additional stimklom for investors to sell dollars in favor of the yen, -, dealers said.

360.000 unemployed Portugal in anticipation of the March benefits

According to the Ministry of Labour of Portugal, a computer crash led to delays in processing benefits.

Most of the unemployed receive benefits in March with the delays, this situation affects approximately 360.000 people.

"It is obvious that the main problem is the deteriorating quality of service," - said Maria do Carmo Tavares (Maria do Carmo Tavares), who works in the executive committee of the labor unions.

According to the Ministry of Labour, the delay in the payment of benefits touched 360.000 beneficiaries, ie 64.17% of the total number of registered unemployed at employment offices. According to the latest data available at the Office of Employment and Vocational Training, in February of the country were registered 561,315 unemployed people.

Helen Andre (Helena André) of the Employment Service, said unemployment benefits have no clear time frame in which they will be paid.

For Maria do Carmo Tavarez is like the situation is totally unacceptable, because people are rigidly fixed income and they want to survive. Trade union leader believes that government policy in the sphere of administrative activity "was overwhelming", which is why many workers have resigned immediately, even knowing that their benefits would amount to 25%, 30% or 40% of income. Health, education and welfare, according to a trade union leader, will feel the greatest impact.

Employment in Canada rose in March

Employment in Canada rose in March at 18 thousand should be noted that the growth rate has remained stable since July 2009.

Thus, in July last year, employment in Canada increased by 176 thousand, or 1.1%.

Nevertheless, the unemployment rate in Canada remained unchanged - 8,2%.

Average hourly earnings rose by 2,2% compared to the same period last year.

Sentix indicator of investor confidence for the euro zone rose sharply in April

 Sentix indicator of investor confidence for the euro zone amounted to 2.5 points for April compared with -7.5 points a month earlier. The value index has surpassed expectations of analysts had forecast the index improved to -5.9%.

Assessment of current conditions index for the period amounted to -7.00 -18.75 item against the item in the previous month. Waiting indicator Sentix rose from 4.5 points to 12.5 points.

PMI index for the UK construction sector has exceeded 50 points

Business activity and optimism in the UK construction sector have improved dramatically in March, that probably would support a recovering economy.
Index PMI, reflects the dynamics of business and economic conditions in the construction sector amounted to 53.1 points in March against 48.5 points in the previous month and the forecast 48,7 points.

Note that the indicator exceeded 50 points, pointing to the growth of business activity in the construction sector. The value index below 50 points reflects a slowdown.

Number of jobs in the U.S. increased by 162 thousand

The U.S. economy has been created 162 thousand jobs in March. This is a record increase in the number of jobs over the past three years.

The number of jobs increased only the second time in the past two years. 48 thousand jobs created were accounted for U.S. Census Bureau (Census Bureau), engaged in the census. On the other company had 114 thousand new jobs.

Unemployment in the United States remained at 9.7%.

Published data almost in line with expectations of experts. Economists predicted that in March will create about 200 thousand new jobs.

PMI index for manufacturing areas of Britain exceeded forecasts for March

Index PMI, reflects the dynamics of business activity, economic conditions and prospects of the UK manufacturing sector amounted to 57.2 points in March against 56.5 points in February. The value index has surpassed expectations of analysts had forecast a slight increase to 56.8 points.

Recall that the indicator value above 50 points indicates growth of business activity in the industrial sphere, below the 50 - to slow down.

Also note that the PMI index takes into account the market, since it simultaneously reflects several aspects of economic development, including employment, prices and economic expectations. Positive data could help to strengthen the pound against other currencies.

PMI index for the industrial sphere eurozone rose for March, more than expected

Business activity in the euro zone manufacturing sector has improved significantly in March compared with the previous month. In the final data, PMI in the manufacturing sector (PMI manufacturing) for the reporting month was 56.6 points compared with the preliminary estimate of 56.3 points. Recall that in February index was at 54.2 points.

It is worth noting that the PMI index accurately reflects the economic conditions in the manufacturing sector, the overall economic situation and development prospects. The index shows steady growth since March 2009. The index value above 50 points indicates growth of business activity, below - to slow down.

Number of applications for unemployment benefits in the U.S. fell to 439 thousand

The number of primary applications for unemployment benefits in the U.S. declined for the week to March 27 at 6 thousand to 439 thousand

The average figure for the period in the past four weeks fell by 6.75 to 447.25 thousand thousand

The number of Americans continuing to receive unemployment benefits dropped for the week to March 20 at 6 thousand to 4.66 million.

Growth of U.S. GDP in the fourth quarter, revised downward

The growth of U.S. GDP in the final quarter of 2009 was most significant in the last six years.

According to verified data, U.S. GDP rose in fourth quarter to 5,6%. Initially, a month ago, reported the growth of the economy during the reporting period by 5,9%.

Compared with the same period of 2008, GDP increased by 0,1%. For all the same in 2009 U.S. GDP declined by 2.4%.

Compared with the originally published, the government revised downward investment in business structures, expenditure on services and investment in inventory.

Index of consumer sentiment in the United States remained unchanged in March

According to a report released Friday by the University of Michigan consumer sentiment in the United States has not changed in March.

Consumer sentiment index remained up in March at around 73.6, which corresponds to the February value. Note that in mid-March figure was at 72.5.

Economists were expecting in late March, the index will be at around 73.0.

Number of applications for unemployment benefits in the United States dropped to 442 thousand

Number of primary applications for unemployment insurance in the U.S. declined for the third time in four weeks. Nevertheless, experts are still negative assessments of the situation on the labor market.

Number of applications for unemployment benefits fell for the week to March 20 to 14 thousand to 442 thousand

The average value of the index for the period in the past four weeks fell by 11 thousand to 453.75 thousand

At the same time, the number of Americans continuing to receive unemployment benefits decreased by one week to March 13 to 54 thousand to 4.65 million.

Sales of new homes in the U.S. fell by 2,2%

Sales of new homes in the United States continued to decline in February, once again updating the record minimum. Sales fell 2.2% to 308 thousand, being at its lowest level since the beginning of calculation of this indicator in 1963.

Economists had expected sales would be at the level of 318 thousand

The average price for a new home in the U.S. rose in February, once on 6,1% to $ 220.5 thousand

PMI index for the productive sectors eurozone rose in March predicted

Business activity in the euro zone manufacturing sector has improved markedly in March compared with the previous month. According to preliminary estimates, PMI in the manufacturing sector (PMI manufacturing) for the reporting month amounted to 56.3 points. The value index surpassed expectations of analysts, forecast decline to 54.1 points. Recall that in February the index was 54.2 points.

It is worth noting that the PMI index for the euro-zone industrial sphere demonstrates steady growth since March 2009. The value of the above 50 points indicates growth of business activity, below - to slow down.

Indicator of business conditions in Germany Ifo rose in March more than expected

Indicator of business conditions in Germany, produced by the German Ifo Institute for Economic and reflecting the perspectives of development of German and European economies, amounted to 98.1 points in March compared to 95.2 points in the previous month. However analysts predicted that figure will increase to 95.8 points.
Indicator Ifo assessment of current conditions rose from 89.8 points to 94.4 points in March while the forecast was 91.0 points.
At the same time, the indicator of economic expectations of Ifo was 101.9 points in March against 100.9 points a month earlier. Analysts speculated that the figure will not change.

Retail sales according to the Confederation of British industrialists worse than forecasts for March

According to the British Confederation of Industrialists (CBI), the balance of total retail sales (Retail sales volume balance) was 13% in March. This is below the projected level of 18% and 23% of the February values.

Projected CBI, in April, the balance of total retail sales will reach 14%.

Wholesale sales fell sharply in March (-13%), despite the fact that the projected modest growth. Probably in the next month rate of change slightly (-2%).

British Industrialists Confederation represents the interests of some 240 000 organizations, which employs one third of the labor force the private sector. The March survey is based on the survey 138 firms.

The index of leading indicators in Canada rose by 0,8%

The index of leading economic indicators in Canada rose by 0.8% in February. The growth rate has continued for the ninth consecutive month, driven by strong domestic demand and a recovery rate of industrial production.

Nine of the ten components of the index rose in the reporting period. In January, the index increased by 0,7%, while growth was observed on the eight components.

In February, was recorded the fastest over the past three years, growth in sales of furniture and home accessories. Sales of other durable goods rose by 0,7%.

The gradual restoration of the U.S. economy promotes the growth of industrial orders in Canada, which increased in February by 6,2%.

Sales in the secondary housing market in the U.S. reduced the third consecutive month

Sales in the secondary housing market in the U.S. fell in February by 0,6% to 5,02 million units, being at their lowest level in eight months.

Falling sales of previously constructed homes has continued for the third consecutive month, after steady growth that was observed throughout last fall. Note that while growth has contributed to a federal program to provide grants for home buyers. The program was then restarted, and its terms, have spread even to repeat buyers, but so far these measures have not impacted positively on sales.

The average price in the secondary housing market in the U.S. is $ 165.1 thousand, which is 1,8% lower than in the corresponding period last year.

Index of economic activity from the Fed, Chicago dropped in February in connection with the slowdown of production

Index of economic activity from the Fed, Chicago was -0.64 points for February. In the January value of this indicator has been revised from 0.02 to -0.04 points.

It is worth noting that the slowdown in economic activity in part due to the recession. The production component of index of economic activity from the Fed, Chicago dropped in February for the first time in eight months. Reduction also contributed to the levels of consumption and employment.

Positive contribution to the dynamics of the index of economic activity from the Fed, Chicago made an indicator of sales, orders and stocks, which has improved over the reporting period.