Stock Market News & Stocks to Watch from StraightStocks » Barclays Capital plc

Boeing Will Test Dreamliner in 2009 but Delays Delivery, Again

Don Miller — Fri, 28 Aug 2009 20:34:40 +0000

pBoeing Company (NYSE: a href="http://www.google.com/url?sa=t#38;source=web#38;ct=res#38;cd=1#38;url=http://www.google.com/finance?q=NYSE:BA#38;ei=wteWSrPyNI6INvOkuIkD#38;usg=AFQjCNE17TGvltwylSUrBuqb9lD-fJ-ftA#38;sig2=A8C5BJVGWGYHWwehwKnQbg" target="_blank"BA/a) yesterday (Thursday) announced it would test-fly its 787 Dreamliner later this year but disappointed customers by delaying delivery of the plane until the fourth quarter of 2010./p pWall Street cheered the announcement as Boeing’s stock soared more than 6% in New York trading after the company said it still expects the 787 to be profitable./p pThe rally came despite news that costs for the first three test planes would be charged-off as having no commercial value, resulting in an estimated pretax charge of $2.5 billion, or $2.21 a share, in the third quarter. Boeing said the charge wouldn’t affect its cash flows./p p“This new schedule provides us the time needed to complete the remaining work necessary to put the#8230;/p

“Hyper-local” Stats Show Housing Market Has Bottomed

Don Miller — Mon, 01 Jun 2009 15:37:25 +0000

pPerhaps the mishmash of numbers floating around the housing market have you confused. For those who follow the market closely, the daily news seems to bring a never-ending stream of contradictory data. /p pHere are just a few statistics in the news lately from respected market mavens like the a href="http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/0,0,0,0,0,0,0,0,0,1,1,0,0,0,0,0.html" target="_blank"S#38;P/Case-Shiller Indices/a and the a href="http://www.realtor.org/" target="_blank"National Association of Realtors/a:/p ul listrongThe “average” price of homes in the U.S. is down almost 35% from the record highs of 2006. /strong/li /ul ul listrong“Median” housing prices are down 19% in 90% of the major markets in the United States. /strong/li /ul ul listrongBuilding permits were up 4% in April from last year, and homebuilder confidence increased from 16 to 18./strong/li /ul pSo what do these numbers mean to you?/p pProbably nothing./p p“It’s like a weatherman who combines conditions#8230;/p

Census Hiring and Reporting Methods Minimize April Unemployment Numbers

Don Miller — Mon, 11 May 2009 17:00:52 +0000

pEmployers cut 539,000 jobs in April, the lowest total in six months, but the Labor Department said the unemployment rate still soared to 8.9%, from 8.5% in March. While some analysts viewed the latest report as a sign of a nascent economic recovery, the unemployment numbers are almost certain to head higher before the recession is declared over./p pLast week’s report could have been worse if the numbers hadn’t been held in check by a burst of federal government hiring of temporary workers to prepare for the 2010 Census./p pThe report was also skewed by the way the government categorizes the unemployed. As strongema href="http://www.moneymorning.com" class="alinks_links"Money Morning/a/em/strong previously reported, a href="http://www.moneymorning.com/2009/01/26/unemployment-rate-2/" target="_blank"if laid-off workers who have given up looking for new jobs or have settled for part-time#8230;/a/p

Investment News Briefs Friday, May 8, 2009

Contrarian Profits — Fri, 08 May 2009 17:34:54 +0000

pConsumer Credit Falls to Record Low in March; GM Burns Through $10.2 Billion in First Quarter; Commercial Mortgage Delinquencies Soar to 11-Year High; Retailers Report Better-Than-Expected Sales in April; FBI Will Add More Agents for White-Collar Crime; Boeing Loses Dream Deal/p ul type="disc" liConsumer credit in the United States fell by a record $11.1 billion in March after the jobless rate reached its highest level in a quarter century and banks made it harder to get loans in an effort to firm up their balance sheets. Consumer credit fell by $2.55 trillion, almost three times more than forecast and the most since records began in 1943, according to a Federal Reserve report released yesterday (Thursday) in Washington. “a href="http://www.bloomberg.com/apps/news?pid=20601087#38;sid=aONczhW6.__I#38;refer=home" target="_blank"When you have record job losses,#8230;/a/li/ul

Global Investment News Briefs Thursday, March 5, 2009

Contrarian Profits — Thu, 05 Mar 2009 12:00:00 +0000

pIndia Cuts Repurchase Rate to 5%; Private Employers Cut 697,000 Jobs in Feb.; U.S. Auto Sales Down 41% in February; Oil Rallies to Six-year High; Merrill’s Top 10 Execs Paid $209 Million Last Year/p ul class="style2" liThe Reserve Bank of India reduced its repurchase rate from an already low of 5.5% to 5.0%, its fifth cut since October. “a href="http://www.bloomberg.com/apps/news?pid=20601091#38;sid=a_2KVhBr3AWE#38;refer=india"We see a significant slowdown in investment/a,” Sailesh Jha, a senior regional economist at Barclays Capital Plc in Singapore, told strongemBloomberg/em/strong. “There is scope for more significant rate cuts.”/li /ul ul class="style2" liADP Employer Services said that a href="http://www.reuters.com/article/newsOne/idUSTRE5232V420090304"U.S. private employers cut 697,000 jobs in February/a, an acceleration of the revised 614,000 jobs lost in January. The figures mark the biggest job loss since the report’s launch in 2001, strongemReuters/em/strong reported./li /ul ul class="style2" liU.S.#8230;/li/ul

Singapore Prime Brokerage | Hedge Fund Prime Broker Trends in Singapore

Richard C. Wilson — Tue, 07 Oct 2008 02:13:15 +0000

Prime Brokerage Singapore

Article on Prime Brokerage in Singapore

Here is a recent post from our associated PrimeBrokerageGuide.com site:

When visitors arrive at Singapore's Changi Airport, they get both an immigration card and an application form for opening a hedge fund.

This was one of the jokes making the rounds in 2007. The fact is that hedge funds in Singapore were growing fast since 2006. According to an article dated Feb 2007 from eFinancialCareers, "prime brokers are in hiring mode" - Barclays Capital, Citigroup, Lehman Brothers, Morgan Stanley and UBS all hired for their Singapore prime brokerage operations in 2006.

By Nov 2007, Singapore serves as prime broking regional headquarters for Credit Suisse Group, Citigroup Inc and Barclays Capital plc, according to HedgeFund Intelligence. Citigroup and Morgan Stanley also opened Singapore prime brokerage offices in 2007, to service the fast-growing number of hedge funds in that market. Morgan Stanley, the top Singaporean prime broker by assets under management according to Eurekahedge, had previously been servicing its Singapore clients from Hong Kong.

As the growth of hedge funds slowed down due to the credit crisis, an article (download pdf) dated Feb 2008 pointed out that "their (referring to the prime brokers in Singapore) enthusiasm for growth is now waning". As reported on Oct 4^th, 2008, Morgan Stanley is looking at scaling back its prime-brokerage operation (detail). However others believe that "Asian hedge funds may be cold, but the Asian prime brokerage industry remains sizzling"(FINalternatives), indicated by Citi's move to add eight professionals to four Asia offices in Aug 2008, including transferring Danielle Vint to handle the prime brokerage's fixed-income desk in Singapore.

It is said that Citi has fired "the latest salvo in the prime brokerage talent wars in Asia". In Feb 2008, Merrill Lynch hired Aussie hedge fund CEO Jeffrey Levy for Asia prime brokerage, to join the firm's Singapore office. Levy's hire fills the hole left by Harvey Twomey, who left Merrill Lynch to join Deutsche Bank as head of global prime finance sales in Asia. Another source reports that in Sep 2008, Deutsche Bank has moved Chris Pagan (LinkedIn) from Hong Kong to Singapore in order to head prime brokerage for Southeast Asia.

by Yifei Huang

Interested in learning more about the hedge fund industry in Singapore? Please see our geographical guide on this region: Singapore Hedge Fund Guide.

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Tags: Singapore Prime Brokerage, Prime Brokers in Singapore, hedge fund, hedge funds, Securities Lending in Singapore, Prime Brokerage Firms in Singapore, investments