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Gauge of US economy posts slight 0.2% gain

Written By Unknown on Kamis, 19 Februari 2015 | 08.16

AN index designed to predict the future health of the US economy rose in January by the smallest amount in five months, indicating the economy's momentum may have slowed a bit.

THE New York-based Conference Board says its index of leading indicators increased 0.2 per cent in January, the weakest gain since a 0.1 per cent rise in August. In addition, the December increase was revised lower to a 0.4 per cent rise instead of the initially reported 0.5 per cent increase.

Conference Board economists say that the lack of strong momentum in residential construction and a weak outlook for new orders in manufacturing pose some downside risks for the economy.

08.16 | 0 komentar | Read More

Be respectful in representations: Bali duo

The Bali Nine pair are enjoying extra time with their families after their executions were delayed. Source: AAP

ANDREW Chan and Myuran Sukumaran have asked that any representations to save them from execution are made firmly, but with respect.

MELBOURNE barrister Michael O'Connell SC visited the condemned Australians in Kerobokan jail on Thursday, where he said they were remarkably well under the circumstances, but concerned that representations were "firm but respectful".

"I think Andrew and Myuran are very concerned that people remain respectful when they make representations on their behalf," Mr O'Connell said."But of course they want those representations to be firmly made."The pair's concerns follow a sharp reaction from Jakarta to Prime Minister Tony Abbott linking the men's fate to Australia's donation of $1 billion in aid following the 2004 Boxing Day tsunami.Mr Abbott had said Indonesia should "reciprocate in this way at this time".Indonesia's foreign affairs ministry spokesman, Arrmanatha Nasir, hit back, saying "no one responds well to threats".Mr Abbott on Thursday said he had only meant to recall the long-running friendship of the two nations.Chan and Sukumaran are enjoying a few days' reprieve from the firing squad after Indonesia was caught unprepared for the executions and delayed moving them from their Bali jail cells.Mr O'Connell says the Bali Nine drug smugglers have also been briefed on arrangements for Tuesday's administrative court challenge.A panel of judges will question their lawyers on their argument that President Joko Widodo did not properly examine their requests for clemency before rejecting them.There are reports Mr Joko did not have documentation before him that outlined the men's rehabilitation before he denied them mercy.Mr O'Connell said his clients' case was strong regardless.Mr Joko has already proclaimed publicly that he will reject clemency in all death row drug cases, he said."The public position taken by the Indonesian government and particularly the president ... demonstrates there was not a genuine and realistic consideration of the clemency application that had been made," he said.Indonesia has not announced a new schedule for the men's move from Kerobokan prison, or their execution date.But planning goes on regardless, with more meetings to discuss security arrangements for the Australians' transfer to Nusakambangan island scheduled for Friday.Almost 2500 people were in Melbourne's Federation Square on Wednesday night when a letter from Sukumaran was read."Whatever happens, I know that me and Andrew are good people now, and even though we have been in prison with a death sentence, we have been truly blessed," he wrote.Mr O'Connell said both men were grateful for the public's support."They're humbled really by the depth of support that has been coming from Australia and to some extent in Indonesia as well," he said."They are very grateful for it and they simply wait and hope."

08.16 | 0 komentar | Read More

Applications for US unemployment aid dive

THE number of Americans seeking unemployment benefits fell sharply last week, a sign that a recent string of strong job gains may continue.

THE US Labor Department says weekly applications for unemployment aid dropped 21,000 last week to a seasonally adjusted 283,000. The four-week average of applications, a less volatile number, fell 6500 to 289,750, its lowest level in 15 weeks.

Applications are a proxy for layoffs. They have been near or below 300,000 since September, a very low reading by historical standards that points to solid hiring. The average has dropped 16 per cent in the past year.That decline has coincided with much stronger job gains. Employers added more than 1 million jobs from November through January, the strongest three-month pace in 17 years.

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Wal-Mart beats 4Q profit forecasts

WAL-MART Stores Inc. has reported fiscal fourth-quarter earnings of $US4.97 billion ($A6.36 billion).

ON a per-share basis, the Bentonville, Arkansas-based company said it had net income of $US1.53. Earnings, adjusted for non-recurring costs, were $US1.61 per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $US1.54 per share.The world's largest retailer posted revenue of $US131.57 billion in the period, missing Street forecasts. Analysts expected $US132.32 billion, according to Zacks.Wal-Mart expects full-year earnings to be $US4.70 to $US5.05 per share.Wal-Mart shares have climbed slightly since the beginning of the year, while the Standard & Poor's 500 index has increased 2 per cent. The stock has increased 14 per cent in the last 12 months.

08.16 | 0 komentar | Read More

Freddie Mac posts $US227m profit in 4Q

MORTGAGE giant Freddie Mac has posted net income of $US227 million ($A290.36 million) for the fourth quarter.

THE government-controlled company's profit was down sharply from the same period of 2013, as it sustained losses on the investments it uses to hedge against swings in interest rates.

Nonetheless, the October-through-December results reported on Thursday marked Freddie's 13th straight profitable quarter.McLean, Virginia-based Freddie also said it will pay a dividend of $US900 million to the US Treasury next month. Freddie will have paid $US91.8 billion in dividends, exceeding its government bailout of $US71.3 billion.The government rescued Freddie and larger sibling Fannie Mae at the height of the financial crisis in September 2008.

08.16 | 0 komentar | Read More
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