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Tuesday, February 19, 2013

Reuters Money: Boomers face credit-card quandary as economic doldrums bite

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02/19/2013
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Boomers face credit-card quandary as economic doldrums bite
NEW YORK (Reuters) - Sandy Harsh never expected to find herself with $16,800 in credit-card debt and her retirement dreams drifting farther away.
Draghi fuels bets for lower money market rates
LONDON (Reuters) - European Central Bank president Mario Draghi has created a win-win situation for traders in the run-up to Friday's announcement on early repayments of banking sector loans, with short-term rates expected to go anywhere but up.
Prada says revenues climb 29 percent for fiscal year ending January
HONG KONG (Reuters) - Italian fashion house Prada SpA said on Tuesday its revenues for the 12 months ended January 2013 rose 29 percent from a year earlier to 3.3 billion euros ($4.4 billion).
Forecasters caught napping by pace of currency moves
LONDON (Reuters) - Rapid moves in foreign exchange markets have sent strategists scrambling to revise 2013 forecasts as resurgent currencies outpace price predictions, wrong-footing the experts that many rely on for hedging, budgeting and investment.
Mortgage lender Quicken bets on downtown Detroit's revival
DETROIT (Reuters) - Dan Gilbert has a vision for downtown Detroit that many would find hard to square with the long, painful decline commonly associated with this city: a vibrant urban core full of creative, innovative and talented young people.
Insurer Florida Citizens increases hurricane protection
LONDON (Reuters) - Florida Citizens Property Insurance Corporation will sell $250 million of hurricane coverage to investors in 2013 to recoup some of the cost of covering natural disasters in the state, the insurer said.
Obama gives green energy funds a jump-start
CHICAGO (Reuters) - In the wake of yet another monster storm in the Northeastern U.S., we are once again reminded of the need to address climate change, which is like a Grendel that keeps coming out of its cave to ravage us with increasingly violent weather.
Awaiting proof of the "Great Rotation"
LONDON (Reuters) - The jury's out on the big investment theme of 2013 - the so-called "Great Rotation" out of expensive bonds back into undervalued equity - and don't hold your breath for a verdict any time soon.
Fidelity Investments 2012 profit dips, customers flee stock funds
BOSTON (Reuters) - Fidelity Investments on Friday said profit in its financial services business dropped 29 percent in 2012 as customers pulled $24.4 billion from the company's actively managed stock funds.
G20 waves rally on, yen down: James Saft
(Reuters) - The Group of 20 major economies chose to whistle and look the other way, effectively encouraging further yen falls and the inevitable currency skirmishes that implies.
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