Currency Demo Trading
Bank of Japan Chief Apologizes for ScandalTOKYO (AP) -- Japan's central bank chief apologized to the nation Tuesday and said he would take a pay cut for an investment scandal that has set off calls for his resignation. He also said the bank has set up a committee to review rules for its officials' assets. Gov. Toshihiko Fukui also said he would not step down and wanted to complete his job. His term runs through March 2008. "I am very, very sorry. I deeply apologize to the people," Fukui said at a news conference. "The Bank of Japan's compliance rules have been widely criticized. This must be taken seriously." Fukui has come under fire since stating last week that he had invested 10 million yen ($86,000) seven years ago in a fund managed by Yoshiaki Murakami, who was arrested June 5 on suspicion of insider trading. Economic Transitions: Slower Growth, Higher Interest Rates and InflationThe most important event of the coming week is the meeting of the ECB.s Governing Council, which is generally expected to raise interest rates by 25bp. However, there is some speculation in the market that the ECB could opt instead for a 50bp hike. Strong data and an underlying hawkishness on the part of several council members have contributed to this risk. On top of this, Governor Trichet said at the last press conference that the ECB would be strongly vigilant, rather than just vigilant. So it can be argued that the ECB has opened the door to a more aggressive monetary policy than before. We reckon that the ECB will limit itself to a 25bp hike, and do not expect Trichet to signal a further in-crease in July at the ensuing press conference. A certain risk of this is also being priced into the market. TradeStation Group, Inc. Announces the Date of Its 2006 Second Quarter Earnings Conference CallWHO: TRADESTATION GROUP, INC. WHAT: TRADESTATION GROUP, INC. CONFERENCE CALL ON THE WEB SECOND QUARTER 2006 EARNINGS WHEN: Thursday, July 20, 2006 11:00 AM (Eastern Time) / 8:00 AM (Pacific Time) HOW TO LISTEN: You'll need the Windows Media Player or Real Player to participate. DETAILS: In conjunction with TradeStation Group, Inc.'s (Nasdaq GS: TRAD) second quarter earnings announcement, which will be released at approximately 7:40 a.m., Eastern Time, on Thursday, July 20, 2006, you are invited to listen to the live webcast of the discussion of the results at http://www.tradestation.com/ . The Company's Monthly Business Metrics (Daily Average Revenue Trades and Total Client Assets) for the month of June 2006 will be announced at approximately the same time on Thursday, July 20, 2006. The live webcast will be accompanied by slides of graphs and charts. Buffalo GoldBuffalo Gold Ltd. Dollar Declines a Second Week on Signs U.S. Economy May SlowJuly 8 (Bloomberg) -- The dollar fell a second straight week against the yen and euro as investors speculated that signs the economy is slowing will bring the Federal Reserve closer to a pause after two years of raising borrowing costs. Traders pared bets yesterday that the Fed will lift its overnight lending rate between banks for an 18th consecutive time next month after U.S. job growth in June fell short of economists' forecasts. At the same time, expectations grew that central banks in Japan and Europe will raise rates in the next month. ``There's certainly a transition going on in terms of interest-rate policy,'' said Nick Bennenbroek, a currency strategist in New York at Brown Brothers Harriman & Co. ``A decline in the dollar against the euro and yen is what we'd expect as the U.S. Business news briefs: 6/14/06Gov. Ed Rendell still expects a party interested in Latrobe Brewing's plant to step forward within days, but it won't be Sierra Nevada Brewing Co. Steve Harrison, vice president of the Chico, Calif., brewer, said his company was not interested in the plant. InBev, the plant's owner, is selling the Rolling Rock brands to Anheuser-Busch for $82 million. Anheuser-Busch will make the Western Pennsylvania brews at its Newark, N.J., brewery, putting about 200 employees at the Latrobe plant out of work at the end of July.
FTC 'stuffs' 2 Fla. companies |