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Jumat, 08 Januari 2010

Job market shows signs of healing

WASHINGTON (Reuters) - The number of U.S. workers filing new jobless claims edged up by a slim 1,000 last week and a gauge of underlying labor market trends hit a nearly 16-month low, evidence the job market continues to heal.

The Labor Department said on Thursday initial claims for state unemployment benefits rose to 434,000 after declining for two consecutive weeks. Wall Street analysts had expected claims to hit 447,000.

However the four-week moving average, considered a better measure of underlying labor market trends, dropped to the lowest level since mid-September 2008. The average fell for the 18th straight week to 450,250 -- around the level economists associate with labor market stability.

"The persistent downtrend evident in these data is encouraging and corroborates our view that the employment situation is turning," said Michelle Girard, a senior economist at RBS in Greenwich, Connecticut.

The report came a day before the release of the government's employment report for December, which a Reuters survey predicted would show no jobs were lost, the best result since the economy tumbled into recession two years ago.

James Bullard, president of the St. Louis Federal Reserve Bank told university students in China the U.S. labor market was improving and the economy was close to the point where the unemployment rate would start to fall.

According to the Reuters survey, the jobless rate likely rose to 10.1 percent last month from 10 percent in November.

The relatively bullish weekly claims report helped to lift the U.S. dollar against the euro and the yen. Dollar strength and weak commodity prices took some edge off U.S. stocks, while prices for U.S. government debt rose.

Investors were also eyeing reports on December sales from U.S. retailers.

Early reports from Sears Holdings Corp, Costco Wholesale Corp, Macy's Inc and others showed sales increasing, suggesting consumer spending was helping give the economy a lift.

STRONG HEALING SIGNS

The pace of layoffs has slowed sharply in recent months as the economy resumed growth after its worst slump in 70 years.

The state of the job market is among the key factors that will determine the timing of the Federal Reserve's first interest rate increase since cutting benchmark overnight borrowing costs to near zero in December 2008. The central bank has vowed to keep them low for an extended period.

"Jobless claims do suggest that employment could be set to grow again, and we continue to expect that tomorrow's employment report will show a 40,000 increase in nonfarm payroll employment in December," said Abiel Reinhart, an economist at JPMorgan in New York.

Moderating job losses are helping consumers to keep up with their loan repayments. The American Bankers Association said consumer loan delinquencies dropped in seven categories in the third quarter. It was the first time since 2007 that so many loan categories experienced declines in late payments.

The insured unemployment rate, which measures the percentage of the insured labor force that is jobless, fell to 3.6 percent in the week ended December 26, the lowest since January last year, from 3.8 percent, the Labor Department said.

Despite the encouraging signs, some weakness persists.

The number of workers still collecting benefits after an initial week of aid fell for a third straight week to 4.80 million in the week ended December 26. However, that likely reflected people exhausting their benefits after receiving the regular 26 weeks of aid provided by states.

The number of people receiving extended benefits under special programs rose to 5.44 million from 5.28 million in the week ended December 19, the department said.

sumber detik finance

Exclusive: Ex-SAC analyst caught up in Blackstone insider probe

NEW YORK (Reuters) - Add another name to the list of former staffers at Steven Cohen's $13 billion hedge fund SAC Capital Advisors to draw scrutiny in a federal investigation into insider trading on Wall Street.

A year ago, federal regulators accused a former Blackstone Group investment banker, Ramesh Chakrapani, of tipping off a friend -- referred to as "tippee 1" in a Securities and Exchange Commission complaint -- about the 2006 buyout of the Albertsons supermarket chain.

Until now the identity of that friend has been a mystery. But Reuters has learned from three people familiar with the Chakrapani case that he is Jonathan Hollander, a 34-year-old former analyst at SAC.

The sources also confirmed that the firm where the trading in question took place in January 2006 is CR Intrinsic Investors, an SAC subsidiary.

In court papers, regulators contend that the Albertsons tip resulted in a series of trades that generated $91,000 in profits for the friend and his parents, as well as $3.5 million in trading profits for his firm.

Hollander, who worked for nearly four years as a junior analyst with CR Intrinsic before leaving in December 2008, declined to comment in an e-mail message. His attorney, Aitan Goelman, similarly declined to comment.

Neither Hollander nor SAC have been charged with wrongdoing in any insider trading investigation.

SAC spokesman Jonathan Gasthalter says the hedge fund began looking into the allegations involving Hollander and the fund's trading in Albertsons stock after the SEC charged Chakrapani in January 2009.

"After reviewing the initial complaint in this matter, SAC thoroughly investigated this former employee's trading in Albertsons and, on its own initiative, presented the findings to government authorities in February 2009," said Gasthalter. "We have cooperated fully with the government's investigation and will continue to do so."

The sources familiar with the matter said Hollander's involvement in the Chakrapani case is another piece in the puzzle for federal prosecutors in New York who are focusing their attention on the activities of several former traders and analysts who either worked at Cohen's SAC or at hedge funds that got money from his firm.

Insider trading is notoriously tough to prove, and the Chakrapani complaint may end up going nowhere.

Indeed, the SEC is moving to dismiss its case against Chakrapani, though the agency says it could refile civil charges against the banker later on.

PHILADELPHIA STORY

The Chakrapani case is separate from the big insider trading investigation that led to the arrest this fall of Galleon Management co-founder Raj Rajaratnam and more than a dozen other traders, tech company executives and consultants.

In fact, there are significant differences between the Chakrapani and Galleon cases. Perhaps most significantly, none of the evidence in the Chakrapani case came from telephone wiretaps, which were used to great effect in the investigation into Rajaratnam.

Instead, the SEC case against Chakrapani, according to court filings and people familiar with the investigation, largely rests on testimony of a key cooperating witness, and matching trading records in Albertsons stock with the timing of some 20 phone calls and 18 text messages between Chakrapani and Hollander in early January 2006.

The SEC attorneys filing the Chakrapani lawsuit come from the agency's Philadelphia regional office. The SEC lawyers in the Galleon case are based in New York and Washington.

One cooperating witness in the Galleon investigation, former SAC tech analyst Richard Choo-Beng Lee, has agreed to tell prosecutors of any insider trading he may have done at SAC, when he worked at the hedge fund from 1999 to 2004.

Other former employees of SAC or hedge funds backed by the firm who have been linked to the Galleon probe in either court filings or by people familiar with the inquiry include: Richard Grodin, Mark Adams and Steven Fortuna.

Fortuna never worked at SAC, but did work at Stratix Asset Managment, a firm founded by Grodin and where Lee also once worked.

The confirmation of Hollander's role in the Chakrapani case comes just a few weeks after Cohen's ex-wife disclosed in a lawsuit that the hedge fund billionaire had his own run-in with securities regulators more than two decades ago. In the lawsuit, she revealed that Cohen, when he was a trader at Gruntal & Co, was investigated by the SEC for potential insider trading in 1986 but was not charged.

So far, there is no indication that Hollander, who now runs a small consulting business called Chesapeake Advisory Group, is cooperating with authorities. In recent court proceedings, lawyers for the SEC have said it is the agency's understanding that Hollander is not cooperating and would assert his Fifth Amendment right against self-incrimination if called to testify.

People with knowledge of the investigation said that Hollander's apparent lack of cooperation may be one reason the SEC is now trying to move on.

LEGAL PRETZEL

The Chakrapani case has been subject to some unusual legal wrangling.

In April -- for reasons that have never been fully explained -- prosecutors dismissed a related criminal charge against Chakrapani just three months after bringing the case. The criminal action also cited an unidentified and uncharged co-conspirator, who turns out to be Hollander, according to the sources.

Since then, prosecutors have told the federal judge overseeing the SEC's civil case on a number of occasions that their investigation of the Blackstone banker is continuing.

In July, U.S. District Judge Richard Sullivan dealt the SEC a blow when he refused to stay the civil case against Chakrapani and ordered a quick trial date.

Federal prosecutors immediately began objecting because one of the key witnesses against Chakrapani in the SEC lawsuit is slated to be the key witness in a related insider trading criminal trial involving other defendants.

The government's key witness, Nicos Stephanou, is a former UBS banker. He has already pleaded guilty to passing on confidential information about the Albertsons deal and other buyouts. Stephanou, Chakrapani and Hollander worked together at Credit Suisse in the late 1990s and were friends, say people who know them.

Federal prosecutors are reluctant to have Stephanou testify in a civil trial before he is called as a witness in several pending criminal trials, according to court filings.

Criminal defense attorney Ira Lee Sorkin, who most notably represented convicted stock swindler Bernard Madoff, said that in recent years judges have become reluctant to automatically stay SEC actions until the completion of a related criminal case.

"Judges are increasingly getting angst about stays because it means a civil case is hanging over a person's head," said Sorkin. "There is a basic unfairness."

That is exactly the argument being made by Chakrapani's lawyer, Michael Sommer. The attorney said he wants Judge Sullivan to not only dismiss the SEC case but to do so with prejudice. A dismissal with prejudice would preclude the SEC from refiling the insider trading charge against the suspended Blackstone banker at a later date.

In court papers, Sommer says a dismissal with prejudice is necessary to clear his client's name and help him return to his job at Blackstone. The private equity firm last month provided Sommer with a letter saying it would consider bringing the banker back if the SEC suit is dismissed with prejudice and "we can satisfy ourselves that the U.S. Attorney will not reinstate its proceedings against Mr. Chakrapani."

It's by no means clear Blackstone will get that kind of reassurance.

Hollander, a Stanford University Business School graduate, is in the same kind of legal limbo as his friend. While he has not been charged with any wrongdoing, he has no assurance from federal authorities that he will not be, said people familiar with the case.

Meanwhile, people who know Hollander said they would be surprised if he had done anything wrong. They point to his charitable work, including coaching youth baseball in Harlem.

Still others note that hedge funds -- including Hollander's -- were routinely trading in Albertsons stock in the weeks leading up to the January 2006 buyout.

For now, Hollander's fate may ultimately rest with whatever the government decides to do with Chakrapani.

Sumber detik finance

kurs bi

Masa Berlaku : 7 Januari 2010
. Kurs Transaksi .
Mata Uang Satuan Nilai Jual Nilai Beli Nilai Tengah
Dolar Australia [ AUD ] 1 8557.12 8469.48 8513.30
Dolar Brunei D. [ BND ] 1 6656.62 6583.49 6620.06
Dolar Canada [ CAD ] 1 8976.87 8885.23 8931.05
Franc Swiss [ CHF ] 1 9020.52 8929.30 8974.91
Yuan China [ CNY ] 1 1358.31 1344.84 1351.58
Kroner Denmark [ DKK ] 1 1795.10 1777.05 1786.08
EURO [ EUR ] 1 13357.34 13222.08 13289.71
Poundsterling Inggris [ GBP ] 1 14834.04 14693.95 14764.00
Dolar Hongkong [ HKD ] 1 1195.97 1184.07 1190.02
Yen Jepang [ JPY ] 100 10054.21 9953.39 10003.80
Korean Won [ KRW ] 1 8.18 8.09 8.14
Ringgit Malaysia [ MYR ] 1 2752.75 2723.01 2737.88
Kroner Norwegia [ NOK ] 1 1635.60 1617.86 1626.73
Dolar Selandia Baru [ NZD ] 1 6847.92 6777.23 6812.58
Kina Papua Nugini [ PGK ] 1 3612.22 3365.20 3488.71
Peso Philipina [ PHP ] 1 202.09 199.96 201.03
Kroner Swedia [ SEK ] 1 1310.48 1297.02 1303.75
Dolar Singapura [ SGD ] 1 6656.62 6583.49 6620.06
Baht Thailand [ THB ] 1 280.10 277.07 278.59
Dolar Amerika Serikat [ USD ] 1 9274.00 9182.00 9228.00

. Kurs Uang Kertas Asing .
Mata Uang Satuan Nilai Jual Nilai Beli Nilai Tengah
Dolar Australia [ AUD ] 1 8976.03 8050.71 8513.37
Dolar Brunei D. [ BND ] 1 6982.49 6257.98 6620.24
Dolar Canada [ CAD ] 1 9416.32 8445.91 8931.12
Franc Swiss [ CHF ] 1 9462.11 8487.80 8974.96
Kroner Denmark [ DKK ] 1 1882.97 1689.18 1786.08
EURO [ EUR ] 1 14011.24 12568.32 13289.78
Poundsterling Inggris [ GBP ] 1 15569.66 13967.42 14768.54
Dolar Hongkong [ HKD ] 1 1254.51 1125.53 1190.02
Yen Jepang [ JPY ] 100 10546.40 9461.25 10003.83
Kroner Norwegia [ NOK ] 1 1715.67 1537.87 1626.77
Dolar Selandia Baru [ NZD ] 1 7183.16 6442.14 6812.65
Kina Papua Nugini [ PGK ] 1 3789.06 3198.81 3493.94
Kroner Swedia [ SEK ] 1 1374.63 1232.89 1303.76
Dolar Singapura [ SGD ] 1 6982.49 6257.98 6620.24
Baht Thailand [ THB ] 1 293.81 263.37 278.59
Dolar Amerika Serikat [ USD ] 1 9728.00 8728.00 9228.00
Sumber dari Bank Indonesia

3 BUMN 'Sakit' Bakal Dimerger

Jakarta - Kementerian Negara Badan Usaha Milik Negara (BUMN) berencana menggabungkan tiga perusahaan plat merah sekaligus meski sektor industri ketiganya berlainan. Tiga perusahaan tersebut merupakan BUMN sakit yang sengaja diganbungkan supaya memiliki nilai lebih.

Menurut Deputi Kementerian BUMN Bidang Usaha dan Jasa Lainnya Muchayat, ketiga perusahaan negara itu antara lain PT Industri Sandang, PT Industri Gelas (Iglas) dan PT Garam. Ketiganya akan bergabung dengan menyandang satu nama yaitu PT Aneka Industri.

"Saya sudah punya inisiatif, Industri Sandang, Iglas denagn Garam menjadi satu perusahaan saja namanya PT Aneka Industri. Ini baru rencana," katanya di kantornya, Jalan Medan Merdeka Selatan, Jakarta, Kamis (7/1/2010) malam.

Menurutnya, hal itu akan segera disampaikan kepada Menteri BUMN Mustafa Abubakar untuk dibahas bersama dalam rangka rigthsizing BUMN. Ia mengatakan dengan adanya perbedaan industri antara ketiganya tersebut justru akan memperkuat si perusahaan hasil merger nanti.

Beda tapi bisa disinergikan, Sandang itu asetnya besar, utangnya kecil. Iglas potensi pasar besar tp masih mengalami masalah modal, Garam sebetulnya industrinya strategis," ujarnya.

Ia menambahkan, pihaknya akan segera meminta ijin kepada Menteri Keuanganan Sri Mulyani dan Dewan Perwakilan Rakyat (DPR) terkait hal tersebut. Setelah mendapat restu, Kementerian BUMN akan menyewa konsultan untuk membantu melaksanakan penggabungan tersebut.

"Ini baru ide yang dikembangkan oleh kementerian supaya punya daya saing. Itu kan ukuran usaha yang tepat atau rightsizing," tambahnya.

Sumber detik finance

Wall Street Menguat Sambut Angka Pengangguran

Saham-saham di bursa Wall Street bergerak menguat menjelang keluarnya data pengangguran pada Jumat ini. Hasil polling menunjukkan angkanya bakal membaik sehingga mengekspresikan berlanjutnya pemulihan ekonomi.

Polling Reuters menunjukkan pasar tenaga kerja sudah cukup membaik dan menunjukkan tidak ada PHK lagi selama Desember.

Pada perdagangan Kamis (7/1/2010), indeks Dow Jones industrial average (DJIA) ditutup menguat 33,18 poin (0,31%) ke level 10.606,86. Indeks Standard & Poor's 500 menguat tipis 4,55 poin (0,40%) ke level 1.141,69 dan Nasdaq melemah 1,04 poin (0,05%) ke level 2.300,05.

"Ada pertanyaan yang muncul: apakah ini akan menjadi indikatif dari aksi jual atau kita sedang berhenti sebelum akhirnya melanjutkan penguatan?" jelas Michael James, pialang senior dari Wedbush Morgan seperti dikutip dari Reuters, Jumat (8/1/2010).

Nasdaq terpukul oleh melemahnya saham-saham teknologi. Sementara pendorong utama kenaikan indeks adalah saham General Electric (GE) yang naik 5,18% dan Bank of Americe yang naik 3,29%. Saham keduanya bergerak naik setelah broker memberikan komentar yang positif.

sumber detik finance

Tekanan Jual Masih Sapa IHSG

Jakarta - Indeks Harga Saham Gabungan (IHSG) kemarin akhirnya melemah setelah mengalami rally terus menerus. IHSG akhirnya turun dari tahta 2.600.

Pada perdagangan Kamis (7/1/2010), IHSG ditutup melemah 16,402 poin (0,64%) ke level 2.586,895. IHSG tidak seramai hari sebelumnya dengan transaksi hanya senilai Rp 4,013 triliun.

Tekanan jual IHSG diprediksi masih akan berlanjut hingga perdagangan Jumat (8/1/2010) ini. Investor kembali berhati-hati setelah sempat terkena euforia pada awal tahun.

Investor akan melakukan aksi beli selektif sehingga membuat IHSG akan bergerak variatif. Sentimen positif dari bursa regional diharapkan bisa menahan tekanan jual pada perdagangan akhir pekan ini.

Namun aliran dana-dana asing diprediksi masih akan terus kuat. Dalam 4 hari terakhir, total beli bersih asing di pasar saham telah mencapai Rp 2 triliun.

Dari bursa global, bursa Wall Street kemarin ditutup menguat kecuali Nasdaq. Investor meyakini angka pengangguran yang akan dirilis akhir pekan ini menunjukkan perbaikan.

Pada perdagangan Kamis (7/1/2010), indeks Dow Jones industrial average (DJIA) ditutup menguat 33,18 poin (0,31%) ke level 10.606,86. Indeks Standard & Poor's 500 menguat tipis 4,55 poin (0,40%) ke level 1.141,69 dan Nasdaq melemah 1,04 poin (0,05%) ke level 2.300,05.

Sementara Bursa Jepang kembali melanjutkan penguatannya. Indeks Nikkei-225 dibuka menguat hingga 76,15 poin (0,71%) ke level 10.757,81.

Berikut rekomendasi saham untuk hari ini:

Panin Sekuritas:

IHSG kembali bergerak melemah melanjutkan penurunan yang terjadi sehari sebelumnya. Profit taking pada saham bluechip mendorong indeks turun -0,64% ke 2.586,895. Disisi lain terlihat saham berbasis komoditas (perkebunan/pertambangan) mampu menahan indeks terperosok lebih dalam. Ekspektasi naiknya demand akan komoditas mendorong terjadinya aksi beli terhadap saham perkebunan dan pertambangan.

Sementara hari ini kami melihat indeks masih akan tertekan meski dalam kisaran terbatas. Diindikasikan mulai muncul selective buy terhadap saham-saham yang diproyeksikan mempunyai prospek cerah pada 2010. Kisaran support-resistacne 2.559-2.605.

eTrading Securities:

Pada perdagangan kemarin index ditutup melemah 16.4 poin (0.62%) ke level 2,586 di karenakan masih adanya aksi profit taking pada saham-saham bluechip seperti TLKM, ASII dan BMRI. Secara Teknikal Indeks berpotensi melemah, indicator stochastic sudah menunjukan overbought sinyal.

Untuk perdagangan hari ini indeks masih akan bergerak mixed dikisaran 2,565 – 2,605. Pemodal dapat mencermati saham-saham BTEL, INDY, INTP dan ADRO.

Sumber detik finance

Pengikut