| Pending Sales of Existing US Homes Probably Fell in February
April 3 (Bloomberg) -- Fewer Americans signed contracts to buy previously owned homes in February, extending a real-estate slump that started in 2005, economists said before an industry report today. The index of signed purchase agreements, or pending home resales, probably fell 0.5 percent after declining 4.1 percent in January, according to the median forecast in a Bloomberg News survey of 15 economists. Buyers may be putting off purchases on concern that subprime mortgage defaults will add to a glut of properties already on the market, causing prices to fall. Federal Reserve Chairman Ben S. Bernanke has said a bigger housing decline is a risk to the central bank's forecast for ``moderate'' economic growth. ``I don't think we've seen the last of the weakness in home sales,'' said Ellen Zentner, an economist at Bank of Tokyo- Mitsubishi UFJ Ltd.
DIARY - Belgium to June 30, 2007
Reuters publishes a Western European company diary covering earnings, shareholder meetings, news conferences and analyst meetings. Double-click on [WEU/EQUITY] or type in the code and hit F9. For daily West-European IPO diary, double-click on [WEU/IPO]. This diary is updated daily. Please note: - All events/times provisional and in local time unless otherwise indicated. - The inclusion of an event does not necessarily mean that Reuters will file a story based on it. ------------------------------------------------------------ ECONOMIC INDICATORS DATE GMT/LOCAL INDICATOR PERIOD F/CAST PRIOR 19APR 1300/1500 Consumer confidence Apr -1 24APR 1300/1500 Leading indicator Apr 1.4 25APR 1300/1500 GDP flash Q1 0.6 26APR 0930/1130 CPI m/m Apr 0.01 26APR 1030/1230 CPI y/y Apr 1.82 22MAY 1300/1500 Consumer confidence May 24MAY 1300/1500 Leading indicator May 30MAY 0930/1130 CPI m/m May 30MAY 1030/1230 CPI y/y May 19JUN 1300/1500 Consumer confidence Jun 22JUN 1300/1500 Leading indicator Jun 28JUN 0930/1130 CPI m/m Jun 28JUN 1030/1230 CPI y/y Jun ------------------------------------------------------------ CORPORATE/TREASURY/POLITICAL EVENTS THURSDAY, APRIL 5 BETZDORF, LUXEMBOURG - 1030 - SES (SESFd.PA: Quote, Profile, Research)(SESF.LU: Quote, Profile, Research) annual shareholders meeting FRIDAY, APRIL 6 Good Friday, Euronext closed, but not a public holiday in Belgium MONDAY, APRIL 9 Easter Monday.
EDITORIAL: Another embarrassing development for Pakistan
An American TV channel, ABC News, says that the United States has been secretly advising and encouraging a Pakistani militant group to carry out a series of deadly guerrilla raids inside Iran. The name of the outfit is Jundullah which took credit for an attack in February that killed at least 11 members of the Iranian Revolutionary Guard riding on a bus in the Iranian city of Zahedan.
The Iranians also have a version of their own. Last month, the Iranian state television broadcast confessions by those who helped organise and carry out the Zahedan attack. The terrorists reportedly admitted to being members of Jundullah and said they had been trained for the mission at a secret location in Pakistan. What is more, according to ABC News, when the US Vice President Dick Cheney met with Pakistani President Pervez Musharraf in February in Islamabad, the secret campaign against Iran was on the agenda.
Follow up to Subprime article
You may have seen the recent Magazine article published relating to the Subprime housing market and wondered why is that important to an environmental website? There are myriad reasons, but the biggest of which is the understanding that any economic difficulties that our country experiences from this market meltdown over the next few years directly impacts our country's ability to make green changes to our lifestyle, and address all the issues in front of us. An economy in recession or depression has less capital to expend to make the necessary changes and preparations for the future. Combine these economic challenges with the upcoming oil challenges we are sure to experience and the result appears to be great difficulty for us in the future. Incorporating all the different aspects of the "green" initiative when you understand how the American economy works and what factors drive the economy forward will hopefully allow you to make more informed decisions.
Chile's Peso Rises to Two-Week High as Economic Growth Quickens
April 5 (Bloomberg) -- Chile's peso rose to a two-week high after a central bank report showed the economy grew at its fastest pace in nine months in February. ``Capital inflows are going into the economy because of expectations for economic growth,'' said Alfredo Coutino, senior Latin America economist at Moody's Economy.com in West Chester, Pennsylvania. The peso strengthened 0.2 percent to 536.53 per dollar, reaching its strongest since March 22. The currency has gained 1.6 percent since the start of February, bolstered in part by surging prices for copper, Chile's top export. Coutino forecasts the peso may reach 525 per dollar by the end of 2007, its strongest level since December. The central bank's economic activity indicator rose 5.7 percent in February, more than the 5.3 percent increase in January, the central bank said on its Web site.
More than enough dirt under his fingernails
Growing up near Taree, Ken Henry would wade out, with his father and brothers, in the river estuaries of the NSW North Coast and stand there, up to his armpits, to catch flathead late at night on the turn of the tide. That was 35 years and more ago. He learnt early to move with stealth among predators. Henry still risks deep water. He still lives with sharks. And he still stalks flathead fish and, at times, boofhead ministers. This week was one such time. The Howard Government appointed Henry head of the Commonwealth Treasury on April 27, 2001. At 43 he was already one of our most respected bureaucrats. He has an honours degree in commerce and a doctorate in economics. For five years in the late '80s and early '90s he was Treasury adviser to Paul Keating. Now, at 49, he has 22 years in Treasury and Peter Costello is his sixth treasurer.
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