Egypt crisis 'costing economy $310m a day'
BBC News
Egypt's uprising is costing the country at least $310m (£192m) a day, according to analysis from Credit Agricole bank. Economists at the bank have also revised down their economic growth estimate for Egypt this year from 5.3% to 3.7%.
http://jlne.ws/fmLvam
Wider powers for eurozone bail-out fund
By Peter Spiegel in Brussels, Victor Mallet in Madrid and Peggy Hollinger in Paris - Financial Times
European leaders are preparing to commit themselves to an overhaul of the eurozone's E440bn bail-out fund that would increase its lending power and give it more tools to tackle the debt crisis, according to draft summit conclusions seen by the Financial Times.
http://jlne.ws/hCqtwP
UBS May Be Sued by SEC Over Marketing of Puerto Rico Closed-End Bond Funds
Bloomberg
UBS AG may be sued by the U.S. Securities and Exchange Commission over the sale of mutual funds that bought $1.5 billion in bonds Switzerland's largest bank had underwritten in Puerto Rico.
http://jlne.ws/elFeqi
Spanish provisions hit Banco Popular's profits
By Victor Mallet in Madrid, Financial Times
Banco Popular, Spain's third biggest listed bank, on Friday announced a 23 per cent fall in net profit to E590m last year from E766m in 2009.
http://jlne.ws/fojRbF
Paris and Berlin fail to reach agreement on EU reform
By Peggy Hollinger and Peter Spiegel in Brussels, FT.com
France and Germany have called for an extraordinary summit of eurozone heads of state in the next few weeks to agree measures for greater economic policy co-ordination in Europe.
http://jlne.ws/hqiyhX
Manufacturers Say Business Is Getting Better
By FLOYD NORRIS, The New York Times
Manufacturing companies around the world agree: Business is getting better. That consensus emerged stronger than ever this past week in surveys based on the questions developed decades ago by the Institute for Supply Management. Results of the surveys are shown in the accompanying graphs.
http://jlne.ws/ehRefj
Nigerian interbank rates climb on cash shortage
Reuters
Nigerian interbank lending rates climbed to 8.00 percent on average this week, down from 5.0 percent last week, as expectations of cash withdrawals by the state-run energy firm NNPC prompted market hedging.
http://jlne.ws/dX2uOW
Deutsche Tops Goldman in Banker Pay Table
Reuters
Deutsche Bank paid its investment bankers more than $500,000 each on average last year, topping Goldman Sachs as the highest payer on Wall Street.
http://jlne.ws/fHSmW4
Pace of US job creation slows
By Alan Rappeport, FT.com
The US added a tepid 36,000 jobs in January, as severe winter weather slowed the pace of job creation, in spite of accelerating economic growth, government figures showed on Friday. The increase in non-farm payrolls was much smaller than the 146,000 that economists had projected and marked a sharp decline from the previous month, when the US added 121,000 workers, according to revised figures.
http://jlne.ws/eEp8Rz
New York Fed purchases $7.272 billion in Tsy coupons
Federal Reserve Bank of New York
The purchase or sale of Treasury securities on an outright basis adds or drains reserves available in the banking system.
http://bit.ly/dXmBqi
Irish opposition party warns Europe on banks
By Carmel Crimmins, Reuters
Ireland's main opposition party warned on Friday that it could unilaterally restructure bank debt if it wins power this month, unless the burden on the country from an EU/IMF bailout is eased.
http://jlne.ws/gUbS93
Big Returns on Bonds Have Come and Gone
ByAlan Zafran, The Street/ Yahoo! Finance
Bill Gross is an incredibly insightful and talented fixed-income manager and strategist. He could have just as easily titled his latest commentary to be "Pick Your Poison." According to the newsletter, Gross hopes to be able to achieve a 4% to 5% taxable rate of return this year by taking credit and currency risk (corporate and emerging market risk) and avoiding duration (interest rate risk).
http://jlne.ws/ijPCcE
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