- Swiss Gold Referendum Fails .. 78% vote against.
- China's official PMI slips to 50.3 in November.. below forecast.
- Investors are trimming inflation hedges by pull $17bn from commodity index products
- The European Central Bank said that it has begun buying asset-backed securities, as it seeks to get banks to lend and revive the economy. The purchases are expected to last for two years.
- China's central bank has cut interest rates on its one-year deposit rate by 0.25%, and its one-year loan rate by 0.4 %. The Bank also said it will allow more flexibility in deposit rates.
- Kraft Foods Group (KRFT) raised dividends 4.7%
- Johnson Controls (JCI) raised its quarterly dividend by 18%
- Intel (INTC) increased its dividend to 96 cents a share - up 6 cents
- (FT) US companies will buy $450bn of their stock this year
- Among the more than 100 experts surveyed in the Zillow Home Price Expectations Survey, a majority said they don't expect the housing market to normalize for at least three more years....
- (Zillow) Millions of Potential New Households Waiting Out the Recovery
Many Americans moved in together as housing costs outpaced income over the last decade, resulting in fewer households; if these doubled-up households divide, housing demand will pick up, according to Zillow
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- More than a third of U.S. adults were living with roommates or adult family members in 2012, up from 25.4 percent in 2000.
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- Household size has risen from 1.75 adults in 2000 to 1.83 adults in 2012.
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- In all, the U.S. lost 5.4 million households to doubling up.
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- The most potential new households are in places where rent has skyrocketed during the housing recovery, such as some large markets in California and Florida.
- The 2014 National Association of Realtor's: The long-term average in this survey, dating back to 1981, shows that four out of 10 purchases are from first-time home buyers. In this year’s survey, the share of first-time buyers* dropped 5 percentage points from a year ago to 33 percent, representing the lowest share since 1987 (30 percent).
- Buyers searching for real estate will find more homes for sale overall, but supply of lower-priced homes is growing more slowly than high-priced homes in most of the country.
- Uranium..Largest weekly price increases since 1996
- UK, US and Swiss authorities have fined RBS, HSBC, Citigroup, JP Morgan and UBS a total of more than £2bn over failings that led to the manipulation of the $5.3 trillion-a-day foreign exchange market.
- The USDA forecasts a drop of 1.41m tonnes in global sugar inventories in 2014-15 – a decline which would be the first since 2009-10.
- (The Independent) As host of the G20 summit of world leaders in Brisbane this weekend, Australia had been looking forward to its moment in the sun. However, Tony Abbott’s government risks becoming an international laughing stock, thanks to its attempts to block discussion of climate change...Mr Abbott – who once dismissed climate change science as “absolute crap” – horrified scientists and environmentalists last month when he described coal as “good for humanity” while opening a new mine in Queensland.
- (Reuters) - The U.S. military's ability to stay ahead of technology advances by other countries and respond to multiple crises around the world is already in jeopardy and will get worse unless mandatory budget cuts are reversed, top U.S. officials warned
- Effective January 17, all research funded in whole or in part by the Bill and Melinda Gates Foundation must be published in journals that are immediately free-to-access, under a Creative Commons Attribution-only license
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