Cheaper holidays with value caravan insurance

AA insurance has launched a 'value' insurance policy aimed at caravan owners looking to cut back on expenses during the recession. Caravan Essentials insurance provides stripped-down cover for caravans worth up to £10,000. It provides essential cover of up to £2 million for public liability, damage, or theft. Extras such as legal expenses or family cover can be added for an additional premium. AA's head ... http://financemarkets.co.uk/2009/02/25/cheaper-holidays-with-value-caravan-insurance/

Mobile phone convicts pay more for car insurance

Motorists who have been caught using their mobile phone whilst driving pay higher insurance premiums, research by AA Insurance has discovered. Increased premiums quadruple the cost of being caught, as the average premium increase is around four-times the cost of the standard fine. Meanwhile, drivers found guilty of dangerous driving whilst using a mobile find it difficult to find any insurance ... http://financemarkets.co.uk/2009/03/02/mobile-phone-convicts-pay-more-for-car-insurance/

Stricken AIG reveals fourth quarter loss of $62bn

US insurance company AIG has today announced a fourth quarter loss of $61.7 billion - the largest corporate loss in US history. The second largest quarterly loss of $54 billion was announced by Time Warner in 2002 following its merger with AOL. AIG’s loss is the equivalent of $678 million per day in the October to December period - or ... http://financemarkets.co.uk/2009/03/02/stricken-aig-reveals-fourth-quarter-loss-of-62bn/

UK drivers want handsfree mobiles banned

Seven in ten UK motorists think using a handsfree kit whilst driving is a distraction, according to insurance firm esure. A study by the car insurance provider found that 71% of drivers believe making or receiving a call on handsfree technology is a distraction. Whilst it is illegal to use a handheld mobile phone whilst driving, it is currently legal to speak-and-drive on ... http://financemarkets.co.uk/2009/03/03/uk-drivers-want-handsfree-mobiles-banned/

Anti-discrimination law could double insurance premiums

The AA has lashed out at government plans to make age and gender discrimination illegal on car insurance policies. Premiums could double for some drivers, the AA said, if the Equities Bill, due to be brought to parliament this spring, is extended to cover the sale of insurance. Age and gender are key factors that affect risk and are vital considerations for calculating ... http://financemarkets.co.uk/2009/03/04/anti-discrimination-law-could-double-insurance-premiums/

HCC Insurance acquires Surety Company of the Pacific

HCC Insurance Holdings has acquired Surety Company of the Pacific, following the receipt of approval by the California Department of Insurance... http://insurance-business-review.com/article_news.asp?guid=D0422553-447E-43AA-960B-4C2ACCC1EE21

IMPORTANT QUESTIONS TO ASK WHEN CHOOSING A BROKER

Know how to choose the appropriate brokerage firm and what are some important questions to ask when choosing a broker.... http://allthingsforex.com/index.php?file=questions_to_ask

Traders

The USD is continuing in two-way action as the majors continue to consolidate off their weekly lows; traders note conditions remain thin and the lack of US fundamentals are keeping some sidelined ahead of the FOMC rate announcement tomorrow. After early gains in the Greenback overnight better-than-expected overseas data helped to hold the GBPO and the EURO higher although both pairs looked for new lows in early New York but reversed losses to close better on the day as early intraday shorts covered back as the day wore on. . Read more

GBP USD Technical Forex Analysis for Forex Traders

Rate drops back after an up week last week; likely a correction and a buying opportunity as the 23 year lows are very likely to hold. Last week's Blanchflower comments help underscore the rate on dips but that support didn't show this morning. Read more

EMU: Still a long way to stabilization

UniCredit Group − Disappointment. The unexpected setback in the purchasing managers indices has dampened hopes of a rapid trend reversal for the euro−zone economy. The miserable state of the economy at the end of the year will continue in the first quarter. GDP will contract strongly again at the beginning of the year.Hope. In contrast, the second consecutive strong gain in the Ifo expectations component this week has underpinned hopes of an improvement after mid−year. Ifo expectations are the most reliable leading indicator for German industrial production. We see the trend reversal here in spring.[ Full Story ]

Japan Finance Minister Nakagawa on the wires from the G7

Japan’s Nakagawa says he did not talk with US Treasury Secretary Geithner about currencies.

In addtion, the Finance Minister urged the Treasury Secretary to no pursue protectionism such as the “Buy America” program. ...http://forex.fxdd.com/18007/forex-news/japan-nakagawa-on-the-wires-from-the-g7

Skyrocketing unemployment

UniCredit Group − Labor markets are reacting to the dramatic economic downturn more quickly than during previous cycles. Within the space of just a few months, unemployment around the globe has skyrocketed. As a result, it appears to be losing its character as a lagging indicator. The main reason for this is the deregulation of labor markets.... [ Full Story ]

(G) 7 Dwarfs

UniCredit Research − The G7 leaders meet this weekend as their economies are shrinking fast, and the latest set of Q4 GDP growth data bring painfully home the fact that this is the deepest and most synchronized recession they have faced in a long time... [ Full Story ]

FOREX-Pound falls on BoE report; dlr gives back some gains

ITV.com for further monetary easing, while the dollar gave back some of the previous session's gains as dealers digested the latest US financial rescue plan. BoE Inflation Report Pound tumbles as Bank says ready to ease further...http://uk.reuters.com/article/marketsNewsUS/idUKLB72983720090211

FOREX-Yen, dollar fall broadly as equities rise

Orangeburg Times Democrat In a major break from existing aid programs, the latest US plan would seek to help homeowners before they fall into arrears, sources familiar with the plan Yen Gains as Stocks Fall on Concern Bank Bailout Plan Will Fail G7 Meeting Outcome and Senate Vote FOREX-Yen falls as stocks rally, record EZ GDP fall hits euro -
Retail sales rebound, jobless claims fall in latest reports

Canadian Dollar Strengthens as Equities Extend Gains

The USD/CAD is having trouble pushing higher as equities continue to extend their gains this morning. read more...

Euro Remains Weak as Risk Grows Ahead of ECB Rate Decision

The euro has not been able to sustain a rally Wednesday with the European Central Bank's interest rate decision looming on the horizon. The euro is likely to remain under pressure despite the central bank expected to hold rates at 2.00%, some strategists say. read more...

Canadian Dollar Remains Strong Despite Equity Sell-Off

The USD/CAD is unable to move higher as currency markets take their lead from stocks late in the session. read more...

Kraft, bank worries knock Wall St; Cisco hit late

NEW YORK (Reuters) - U.S. stocks fell on Wednesday as a glum profit forecast from Kraft Foods (NYSE:KFT - News) signaled consumers are skimping even on the basics and investors worried that government efforts to rescue banks could wipe out their shareholders.
Even so, a report showing that the vast service sector shrank less than expected in January spurred technology gains, helping the Nasdaq finish near break-even.

U.S. sets executive pay limits for bailout companies

WASHINGTON (Reuters) - President Barack Obama took on bailed-out Wall Street firms on Wednesday, setting a $500,000 annual cap on pay for top executives at companies receiving taxpayer funds and tapping popular anger over financial sector excesses.
Obama said more measures would be outlined next week to overhaul the crisis-hit U.S. financial sector, which has been propped up with billions of dollars in public funds. http://finance.yahoo.com/news/US-sets-executive-pay-limits-rb-14257506.html

Advent Software shares soar after 4Q results

NEW YORK (AP) -- Shares of Advent Software Inc. soared Wednesday after the company said its fourth-quarter profit climbed 63 percent year-over-year, beating Wall Street forecasts. Advent Software, Inc.

Banks could still find wiggle room in pay caps

NEW YORK (AP) -- The squeeze on big paydays for executives of bailed-out banks will probably leave Wall Street plenty of wiggle room.Consultants on executive pay say the caps imposed by President Barack Obama on Wednesday will probably apply only to a few executives -- not star traders, brokers and salespeople who routinely earn whopping pay packages. http://finance.yahoo.com/news/Banks-could-still-find-wiggle-apf-14257868.html

New Issue-Landry's Restaurants sells $295.5 mln sr sec notes

Feb 4 (Reuters) - Landry's Restaurants, Inc, which
operates casual dining restaurants and the Golden Nugget Hotel
and Casino in Las Vegas, on Wednesday sold $295.5 million of
senior secured notes in the 144a private placement market, said
IFR, a Thomson Reuters service.
The size of the deal was decreased from an originally
planned $270 million. http://fxstreet.com/news/futures-news/article.aspx?StoryId=fa2a80cc-84f0-4556-8b6f-2dfdf4e1cebf

German car maker

Shareholders of German car maker Porsche Automobil Holding SE look on a Porsche Cayman sportscar during the company's shareholders' meeting at the Porsche Arena in Stuttgart, Germany, Friday, Jan. 30, 2009. German sports and luxury carmaker Porsche SE says its six-month sales fell, as the world economic crisis curtailed demand http://news.yahoo.com/nphotos/slideshow/photo//090129/photos_wl_africa_afp/76d2475a6e8658a0f46f62bc851aa48f/#photoViewer=/090130/480/4a70cfb7c78748cc97904434ff4ac478

F-22 Raptor is displayed

An newspaper advocacy ad touting the virtues of the F-22 Raptor is displayed among stories about the ailing economy, in Washington, Thursday, Jan. 29, 2009. Faced with a national economic crisis and a new president, the defense industry is itself playing defense. Its latest lobbying message: Weapons systems aren't just instruments of national security, they're vital jobs programs http://news.yahoo.com/nphotos/slideshow/photo//090129/photos_wl_africa_afp/76d2475a6e8658a0f46f62bc851aa48f/#photoViewer=/090129/480/9a68e88558e54cdebad2be9c31171334

Financial Crisis

Zimbabwean acting Minister of Finance Patrick Chinamasa arrives at the Parliament to present the national budget for the year 2009 in Harare. Zimbabwe sought to prop up its ailing economy with foreign currency Thursday, as the United Nations warned that more than half the population needs emergency food aid.(AFP/Desmond Kwande http://news.yahoo.com/nphotos/slideshow/photo//090129/photos_wl_africa_afp/76d2475a6e8658a0f46f62bc851aa48f/

Time Runs Out for Forex Dealers - Zimbabwe Independent

the recent “dollarisation” it appears the parallel market now has more competition as dealers outdo each other in search of the scarce foreign exchange. ...Dollarisation: one blow

Taiwan dollar firms on foreign fund buying - Reuters India

The Taiwan dollar rose for a second day on Tuesday on buying by foreign funds investing in the equity market, but dealers ...Taipei shares close up 0.28 per cent

Euro and sterling down on credit rating concerns - Economy News

"After falling through Y50 earlier in January, the kiwi may now test Y40 in the near term," Tokyo Forex & Ueda ...FOREX-Dollar steady before job data, rate decisions

US Fed extends liquidity facilities, forex swaps - Reuters

The US central bank is also keeping open through that date facilities providing loans and Treasuries to primary dealers. The Fed further said it is ...CHRONOLOGY-Fed actions to boost liquidity

Swiss Franc Grows against Euro

The appeal for the stock markets declined and the low-yielding assets became more attractive, boosting the demand for the Swiss franc against the Euro for a second day, today.
Posted in Swiss Franc

Korean Won Leads Asian Currencies Decline

The South Korean won was the worst-performing currency among the Asian ones this month as the investors moved out of the country’s assets and the exports to the developed economies fell sharply. South Korean Won

Euro Falls as Traders Lean to Safety

The euro declined today against the Japanese yen as the traders sold the risky assets and moved to the «safe cash» after the Asian stock markets tumbled today; investors also expect that the inflation report in Eurozone will add more space for ECB to cut the interest rate.
Posted in Euro

Australian Dollar Grows after Rate Cut

The Australian dollar gained today against the other currencies on the Forex market after the country’s central bank cut the interest rate to the lowest level in decades and the government announced a stimulus package for the economy.