Hard hitting global and local news
Johnson & Johnson (JNJ) $4.03 billion Net Negative Cash Counting short-term investments, net corporate cash of the 50 largest companies is negative $543.67 billion. Total cash of the 10 companies that have positive balance sheet cash (counting short-term investments as a cash equivalent) is $216.05 billion.
The HSBC China Manufacturing PMI shows Modest improvement in operating conditions. After adjusting for seasonal factors, the HSBC Purchasing Managers’ Index™ (PMI™) – a composite indicator designed to provide a single-figure snapshot of operating conditions in t he manufacturing economy – posted 51.6 in March, up from 50.4 in February, signalling a modest improvement.
Bloomberg reports Napolitano Names Advisers in Renewed Push for Italian Deal Italian President Giorgio Napolitano renewed his push to forge a government from the country’s divided parliament by drafting advisers from two of the top three political forces. Members of the parliamentary coalitions headed by Pier Luigi Bersani and ex-Prime Minister Silvio Berlusconi were among the 10 men selected, according to an e-mail sent late yesterday by Napolitano’s office.
Beppe Grillo "We are the French Revolution Without the Guillotine" With Beppe Grillo and unwilling to form a coalition government, and with Prime former Prime Minister Silvio Berlusconi making demands that Bersani will not go along with, Italian President Giorgio Napolitano Considers Options . One of those options includes stepping down early so the next president can call elections
Read the article: Canada Discusses Forced Depositor Bail-In Procedures for "Too Big To Fail" Banks in 2013 Budget
Here are some unemployment charts I put together via Ycharts. Youth Unemployment Rates US vs.
View original post here: Rational Reason to Panic; Hot Money Blues; Right for the Wrong Reasons
The Financial Times reports Poland opens way to euro referendum . " Donald Tusk, Poland’s prime minister, took a big political gamble on Tuesday when he opened the door to a referendum on joining the euro, in the face of strong public opposition to the common currency.
A NPR report " Unfit For Work " notes the startling rise in those on disability. Here are some interesting facts from the article. Every month 14 million Americans receive a disability check.
Read More: Bersani Pleads for "More Insanity" as Italian Government Talks Collapse