North America

  • 2011-04-06 16:12

    By Kenneth Fung

    WASHINGTON (MNI) - The U.S. Energy Information Administration
    Thursday is expected to report a draw on natural gas inventories for the
    week-ended April 1.

    Analysts in a Platts survey project an decline of between 49
    billion and 53 billion cubic feet from natural gas storage last week.

    According to Platts, "A drawdown within that range would compare
    with an injection of 29 billion cubic feet in the same week in 2010 and
    the five-year-average injection of 13 billion cubic feet."

    "As a result, the 12 billion cubic feet deficit to the year-ago

  • 2011-04-06 15:57

    By Denny Gulino

    CLEARWATER, Fla. (MNI) - Florida's legislature Wednesday began a
    month's debate on a series of budget cutting measures that could bring
    it into the cutback spotlight, part of the firestorm of state government
    shrinkage nationwide.

    The veto-proof Republican legislature, prodded by the Tea Party and
    not slowed by a now-irrelevant Democratic minority, is still coming up
    with additional money-saving measures, aiming to accelerate government
    shrinkage as fast if not faster than any other state in the country.

  • 2011-04-06 15:48

    By Dennis Pettit

    NEW YORK, April 6 (MNI) - The dollar nursed modest losses vs. the
    euro while holding slight gains vs. the yen as the market's focus turned
    Thursday's meeting of the European Central Bank and an expected shift in
    monetary policy.

    Euro-dollar was changing hands at $1.4335 in afternoon dealings
    Wednesday, the euro in the upper reaches of the day's $1.4270/1.4350
    U.S. hours range.

    Dollar-yen meantime was trading at Y85.40 in afternoon dealings,
    the dollar in the upper reaches of its Y85.05/50 range seen during U.S.
    hours.

  • 2011-04-06 14:34

    --As Hill Ponders Gov Shutdown, Rep. Ryan Pushes Sweeping Fiscal Plan
    --Analysts Say FY11 Fight is Diversion From Real Fiscal Challenges

    By John Shaw

    WASHINGTON (MNI) - One of the many criticisms which is often
    directed at Congress pertains to its frequent lack of balance and
    proportion.

    Relatively minor, even trivial, matters often consume enormous
    amounts of time and attention while extremely consequential matters are
    given short shrift.

    That tendency is arguably on full display on Capitol Hill
    Wednesday.

  • 2011-04-06 13:57

    --As Hill Ponders Gov Shutdown, Rep. Ryan Pushes Sweeping Fiscal Plan
    --Analysts Say FY11 Fight is Diversion From Real Fiscal Challenges

    By John Shaw

    WASHINGTON (MNI) - One of the many criticisms which is often
    directed at Congress pertains to its frequent lack of balance and
    proportion.

    Relatively minor, even trivial, matters often consume enormous
    amounts of time and attention while extremely consequential matters are
    given short shift.

    That tendency is arguably on full display on Capitol Hill
    Wednesday.

  • 2011-04-06 13:13

    --Banks Must Pay for Privilege of Drawing on Central Banks in Crisis

    By Heather Scott

    WASHINGTON (MNI) - The global financial system needs a way to
    measure and deal with liquidity risk that can go beyond one institution
    to freeze the whole system, and to design a way to make banks pay more
    of the cost of the risk now placed on central banks, the International
    Monetary Fund said Wednesday.

    Laura Kodres, chief of the IMF's Global Stability Analysis
    Division, told reporters the fund does not take a stand on what type of

  • 2011-04-06 12:12

    --Still 'Significant Uncertainty' in US Mortgage Market
    --Reforms Must Address 'Regressive' Mortgage Tax Deduction

    By Heather Scott

    WASHINGTON (MNI) - The flaws in the U.S. housing finance system
    have been recognized but now must be fixed, and in particular the role
    of government curtailed, since the high government involvement was a
    factor in the severity of the recent crisis, the International Monetary
    Fund said Wednesday.

    The IMF's Global Financial Stability Report includes a chapter on

  • 2011-04-06 12:00

    --Asks Impact Of Reg Q Repeal on S-T Fundng Mkts,Dep Institns Bal-Sheets
    --Repeal Would Be Effective From July 21, 2011

    WASHINGTON (MNI) - Following is the text of an announcement
    Wednesday by the Federal Reserve, proposing a repeal of Regulation Q,
    which prohibits payments on demand deposits such as those held in
    checking accounts, effective July 21, 2011:

    The Federal Reserve Board on Wednesday requested comment on a
    proposed rule to repeal the Board's Regulation Q, which prohibits the
    payment of interest on demand deposits by institutions that are member

  • 2011-04-06 11:27

    --House Budget Chairman: Plan Calls For $6.2 Trillion In 10Yr Savings
    --Trying To 'Preempt' Debt Crisis
    --Must Move Now To Fix Budget 'On Our Terms'
    --GOP Plan Is 'Same Tired Formula' Of Deep Tax Cuts
    --Republican Plan Is Not Sufficiently 'Balanced'
    --House Budget Committee Is Now Considering Ryan's Fiscal Blueprint

    By John Shaw

    WASHINGTON (MNI) - House Budget Committee Chairman Paul Ryan
    Wednesday formally proposed his sweeping fiscal year 2012 budget
    resolution that calls for more than $6 trillion in ten year spending

  • 2011-04-06 10:20

    --Senate Majority Leader Says GOP Continues To Change 'Bottom Line'
    --Sen. Reid: House GOP Is Still Pushing 'Partisan' Budget
    --Sen. McConnell: Dems Have 'Taken A Pass' On Tough Decisions
    --Sen. McConnell: Democrats Are 'Rooting' For A Government Shutdown

    By John Shaw

    WASHINGTON (MNI) - Beginning the day with a hard line stance,
    Senate Majority Leader Harry Reid Wednesday said House Speaker John
    Boehner must now choose between a reasonable compromise on a final 2011
    fiscal year spending bill and a government shutdown at the end of the
    week.