The Wall Street Journal reports, the number of U.S. workers, filing new applications for unemployment benefits, fell to its lowest level since April 2008, showing the labor market is continuing its steady improvement this year. Separately, the U.S. economy’s fourth quarter expansion, was unrevised at 3.0%, while corporate profits, moderated from the previous quarter. State-by-state data, showed New York with the biggest decrease in layoffs, as manufacturing, construction and retail industries had fewer layoffs.
The Wall Street Journal also reports, Iran’s oil exports appear to have dropped this month, as buyers prepare for tough new sanctions, and shipments are likely to shrink further, if President Barack Obama determines by Friday, as expected, that markets can adjust to fewer barrels of Iranian oil. More aggressive measures are in the pipeline, say U.S. congressional leaders and the EU. Sanctions intended to restrict Iran’s nuclear program, could eventually leave half of Iran’s oil output cut off, from international markets.
Bloomberg reports, European governments are preparing for a one-year increase, in the ceiling on rescue aid, to 940 billion euros, to keep the debt crisis at bay, according to a draft statement written for finance ministers. The euro-area finance chiefs will probably decide at a meeting in Copenhagen tomorrow, to run the 500 billion-euro permanent European Stability Mechanism, alongside the 200 billion euros committed by the temporary fund. The boost to the war chest, would come after Chancellor Angela Merkel of Germany, the dominant power in two years of crisis fighting, warned of “fragility” in Portugal and Spain.
Finally Reuters reports, Facebook is halting the sale of its shares on secondary markets, effective next week, as the company prepares to hold its initial public offering in May. Facebook recently asked firms, that arrange trading of its privately held shares, to stop doing so, a move intended to reduce churn in its valuation, that could complicate matters, as it sets an IPO price. Facebook is planning to raise $5 billion in an offering that could value the company at up to $100 billion, making it the largest IPO in Silicon Valley history.
The Wall Street Journal reports, the number of U.S. workers, filing new applications for unemployment benefits, fell to its lowest level since April 2008, showing the labor market is continuing its steady improvement this year. Separately, the U.S. economy’s fourth quarter expansion, was unrevised at 3.0%, while corporate profits, moderated from the previous quarter. State-by-state data, showed New York with the biggest decrease in layoffs, as manufacturing, construction and retail industries had fewer layoffs.
The Wall Street Journal also reports, Iran’s oil exports appear to have dropped this month, as buyers prepare for tough new sanctions, and shipments are likely to shrink further, if President Barack Obama determines by Friday, as expected, that markets can adjust to fewer barrels of Iranian oil. More aggressive measures are in the pipeline, say U.S. congressional leaders and the EU. Sanctions intended to restrict Iran’s nuclear program, could eventually leave half of Iran’s oil output cut off, from international markets.
Bloomberg reports, European governments are preparing for a one-year increase, in the ceiling on rescue aid, to 940 billion euros, to keep the debt crisis at bay, according to a draft statement written for finance ministers. The euro-area finance chiefs will probably decide at a meeting in Copenhagen tomorrow, to run the 500 billion-euro permanent European Stability Mechanism, alongside the 200 billion euros committed by the temporary fund. The boost to the war chest, would come after Chancellor Angela Merkel of Germany, the dominant power in two years of crisis fighting, warned of “fragility” in Portugal and Spain.
Finally Reuters reports, Facebook is halting the sale of its shares on secondary markets, effective next week, as the company prepares to hold its initial public offering in May. Facebook recently asked firms, that arrange trading of its privately held shares, to stop doing so, a move intended to reduce churn in its valuation, that could complicate matters, as it sets an IPO price. Facebook is planning to raise $5 billion in an offering that could value the company at up to $100 billion, making it the largest IPO in Silicon Valley history.