USDA predicts big drop in corn yield

Story from: CNN Money

Corn yields are shriveling up as the drought continues to wreak havoc on crops across the Midwest.

On Friday, the U.S. Department of Agriculture projected a massive slump in the corn harvest, and a subsequent surge in corn prices.

In its monthly World Agricultural Supply and Demand report, the USDA projected the corn harvest would plunge by 2.2 billion bushels, or by 22.6 bushels per acre, resulting in a harvest of 123.4 acres per acre.

That’s worse than expected and puts the 2012-2013 yield on track to be the lowest since the 1995-1996 harvest.

Analysts had anticipated a decline of 20 bushels per acre to 126 bushels per acre.

Full Story: CNN Money

Stocks Fall On Global Growth Concern As Treasuries Rise

From Bloomberg

Stocks fell for the first time in six days and commodities declined as worse-than-expected Chinese trade and French industrial output data added to evidence the global economy is slowing. U.S. Treasuries gained, halting a five day slide.
The MSCI All-Country World Index (MXWD) dropped 0.2 percent at 11 a.m. in New York and the Standard & Poor’s 500 Index slipped 0.1 percent, retreating from a three-month high. The yield on the 10-year Treasury fell four basis points to 1.65 percent. The euro erased earlier losses against the dollar. Natural gas slid 5.2 percent to lead commodities lower, with corn slipping from a record and wheat losing 2.3 percent.

China’s exports increased 1 percent in July from a year earlier, missing all estimates in a Bloomberg survey of 32 economists, and French industrial output stagnated in June from May compared with a forecast of 0.1 percent growth, reports showed today. The International Energy Agency cut global oil demand forecasts for this year and next.

Full article: Bloomberg

Hedge Funds Lag Behind a Generic Stock/Bond Mix

From BusinessWeek

Before they discovered hedge funds, pension funds and school and foundation endowments typically held portfolios with 60 percent in equities and 40 percent in bonds. Many would be better off if they had stuck with that formula. Hedge funds have trailed both the Standard & Poor’s 500-stock index and a Vanguard index fund with the 60/40 mix over the past five years, according to data compiled by Bloomberg. “People hear about the top-performing hedge funds, and they assume those results hold true for the whole industry,” says George Sauter, chief investment officer for Vanguard Group. “It turns out that, on average, hedge funds are about average.”

Investors are still drawn to hedge funds by the returns of top managers such as Paul Singer of Elliott Management and Seth Klarman of Baupost Group. Total hedge fund assets reached $2.1 trillion as of March 31, more than four times their level in 2000, data from Hedge Fund Research show. That’s making it difficult for the hedge fund industry to produce better results than other asset classes, says Simon Lack, a former executive at JPMorgan Chase (JPM) and author of the 2012 book The Hedge Fund Mirage. “You have more money chasing fewer opportunities,” he says.

Full article: BusinessWeek

Larry King Finds a Home on Hulu

Via The New York Times

Ray King’s brand new job interview plan on the web, introduced previously this season, right now includes a house upon Hulu.

The actual movie loading Site introduced upon Wednesday early morning how the plan, known as “Larry Full Right now, ” had been premiering immediately — this particular 7 days, to become precise. Mr. King’s job interview along with Seth MacFarlane, their very first visitor, has become on the website. Selection interviews along with Meghan McCain as well as Matthew McConaughey is going to be streamed later on this particular 7 days.

The actual job interview plan along with Mr. Full is actually a part of the steady growth from the selection associated with on-demand exhibits upon Hulu, that was created 5 in years past to become a good on the internet area with regard to repeats associated with prime-time system exhibits. It’s additional a few unique sitcoms as well as dramas lately, although the TELEVISION repeats stay it’s breads as well as butter. Right now, along with “Larry Full Right now, ” it’ll have the four-day-a-week speak display. Hulu stated inside a information discharge which brand new attacks from the half-hour display might arrive on the internet Mon via Thurs.

“Larry Full Now” is actually a part of the wider submission cope with Ora TELEVISION, a good Web TELEVISION system borrowed through Carlos Trim Helú, the actual Asian billionaire. Mr. Full, the co-founder from the system, stated within 03 he might begin web hosting exhibits with regard to Ora TELEVISION later on within the 12 months.

[Full article here]

Where Have You Parked Your Short-Term Savings?

Via The New York Times

If you’re aiming to save your money for a new home, a car, or perhaps even a vacation, you can’t help becoming frustrated by the paltry interest rates being offered. Your savings can’t even keep pace with inflation.

So this week’s Your Money column looks at the world of federally insured options, as well as possible alternatives for savers with short-term goals, including short-term bonds, and the risks they may entail.

[Full article here]

No room for new Fed “twist” beyond year-end

Via Reuters

The actual Government Book can’t turn to lengthen it’s “twist” procedure to aid relationship marketplaces as well as depress long-term Ough. Utes. credit expenses for any 2nd period following this restored this program final 30 days, a high Given policymaker stated upon Wednesday.

“Twist may be prolonged with the finish from the 12 months, however we’re operating from stability linen, inch Bullard informed reporters in a briefing following a meeting within Birmingham.

“There is really a restricted quantity of short-term Treasuries that people may market and purchase long-term Treasuries. And so i don’t believe you can try anymore expansion associated with Distort past the finish from the 12 months. inch

Upon 06 20 the actual main financial institution broadened it’s “Operation Twist” through $267 million, which means it’ll market which quantity of short-term investments to purchase longer-term types to maintain long-term credit expenses lower. This program, that was because of end within 06, may right now tell you the finish associated with 2012.

[Full article here]

Investors fear rushed decision over Barclays top roles

Via Reuters

Best Barclays Plc investors concern which government bodies may hurry with the visit of the brand new main from the scandal-struck financial institution and never take time to look for a good outsider to create in regards to a root-and-branch lifestyle alter.

The financial institution offers began sound away bigger investors, who’ve advised this to consider exterior applicants in order to fill up both best work in the financial institution.

The actual investors possess indicated issue which monetary government bodies, wanting to restrict long-term harm the result of a insufficient management in the financial institution, tend to be pushing with regard to fast visits.

“We really feel they will obtain pressed through the regulator to create these types of visits very rapidly to ensure that might cause them to turn to inner applicants, inch 1 top-10 buyer stated.

Uk papers documented upon Thurs how the financial institution really wants to rapidly designate it’s deputy chairman, Erina Rake, because it’s brand new chairman and it is getting ready to existing the situation towards the Financial institution associated with Britain and also the Monetary Providers Expert,

Rake offers apparently informed traders he’ll remain lower through their part because chairman associated with each BT as well as easyJet in order to focus on the actual chairman’s part from Barclays, if it’s granted.

[Full article here]

Help Finding Savings Rates That Beat Inflation

Via The New York Times

Right now, everybody having a checking account understands which obtaining rates of interest in your cash anyplace close to the measly 1 % is actually progressively hard. Using the Customer Cost Catalog operating from 1. 7 %, the majority of down payment company accounts tend to be taking a loss in order to inflation.

To assist customers discover much better produces in order to defeat inflation, the web page NerdWallet offers began the month-to-month interest-rate keep track of, that will function down payment company accounts which defeat the actual D. G. We., the actual most favored way of measuring inflation. (The web page targets company accounts which aren’t associated with short-term campaigns, however will determine substantial marketing prices, as well. )#)

This particular 30 days, the actual function started through determining a lot more than 1, three hundred various company accounts which provided rates of interest greater than the actual price associated with inflation, because documented within 06 through the government Agency associated with Work Data. The actual company accounts outlined, nevertheless, had been provided by credit score unions, which might possess limited eligibility needs with regard to regular membership.

[Full article here]

China says exporters face grim challenge from protectionism

Via Reuters

Chinese language exporters encounter problems through industry protectionism, the older Chinese language traditions recognized stated upon Wednesday, observing the biggest quantity of Beijing’s industry conflicts this past year had been along with america.

“Currently the planet economic climate continues to be harsh as well as you will find increasing questions as well as unpredictable elements, inch Zheng Yuesheng, spokesman associated with China’s Common Management associated with Traditions, informed reporters.

“Chinese exporters encounter industry protectionism and also the scenario is extremely harsh, inch he or she stated.

China’s exports increased 11. 3 % within 06 from the 12 months previously, quicker compared to marketplace anticipation for any 9. 9 % improve however nicely from the speed within Might whenever this submitted a good yearly increase associated with 15. 3 %.

China’s imports flower 6. 3 % final 30 days from the 12 months previously, fewer than half the actual 12. 7 % improve predict inside a Reuters poll as well as lower dramatically in the 12. 7 % yearly increase within Might.

[Full article here]

BofA cutting commercial banking jobs: sources

Via Reuters

Financial institution associated with The united states Corp (BAC. D) may be reducing work within it’s industrial financial device within current days even while this attempts to enhance the actual group’s company, individuals acquainted with the problem stated, highlighting the actual bank’s wider challenges to develop inside a tepid economic climate.

The task slashes would be the most recent circular within the bank’s cost-cutting plan, referred to as Task Brand new BAC, as well as concentrate on the system which makes financial loans in order to mid-sized businesses round the nation. Experts anticipate Financial institution associated with The united states to reveal much more concerning the present circular associated with Brand new BAC whenever this articles income upon This summer eighteen.

The 2nd biggest Ough. Utes. financial institution is actually reducing lenders as well as mortgage processors within industrial financial workplaces spread round the nation, resources stated. Financial institution associated with The united states has not revealed the amount of slashes, however among the individuals stated it had been half the normal commission from the complete device.

The financial institution rejected to express the number of workers it’s within industrial financial. Inside a Feb 2011 investments submitting, this detailed 7, 100, however, many companies happen to be relocated from the device since that time.

The actual slashes arrived despite John Moynihan, Financial institution associated with Numerous leader, stated openly how the financial institution really wants to help to make much more financial loans in order to little as well as mid-sized businesses.

“We have to observe the groups perform much more focus on mortgage development, inch he or she stated in a meeting within Might.

Financial institution spokesman Jefferson George stated the organization frequently evaluations it’s companies to ensure it may fulfill customer requirements as well as “capture marketplace possibilities. inch The financial institution may still employ within “growth places, inch he or she additional.

[Full article here]