Dollar strengthens as investors eye Greece, Spain

NEW YORK - investor worries about the economic situation in Europe, particularly the Greece and the Spain, has propelled the higher the dollar Friday.

The euro slipped to $1.4201 in late trading in New York Friday of $1.4311 Thursday.

Credit ratings agency that Fitch cut ratings of long-term credit to Greece more in undesirable situation, saying that indebted countries faces challenges change its economy and the Government to reduce the debt.

Investors remain worried that the Greece will have to stretch its debt or pay less than what they are owed creditors. Europe, particularly those of the Greece banks hold lots of Greek bonds, and a restructuring can hurt them.

During this time, Spain organizes regional elections this weekend. Investors are afraid that new politicians should take up its duties will say that the country is even more deeply in debt that the Government had expected, said analyst for Brown Brothers Harriman Marc Chandler. This raises the possibility that Spain should attempt a rescue, following the path of the Greece, the Ireland and Portugal.

The euro has increased a steep 10 percent this year, reaching its highest point since December 2009 almost $1.49 in late April because investors expect the European Central Bank to keep raising interest rates. The Federal Reserve would keep rates near zero for a long time, perhaps until the end of next year. Higher rates can generate great returns on an investment, so that they tend to support the currency.

But a renewed focus on the problems in Europe this month has strengthened the dollar, although economists believe economic growth is perhaps not as strong as hoped to the United States this summer.

In other trade Friday, the pound sterling fimbriated up to $1.6276 to $1.6214, then only the dollar edged lower 81.57 Japanese yen of yen 81.63. The motto of the United States is passed to 97.23 cents Canadian Canadian cents 96.93, but went from Swiss franc 0.8815 to Swiss franc 0.8771.

Coach plans to list in China

The manufacturer of Luxury handbags is planning a listing on the stock exchange of Hong Kong to raise awareness of its brand in Asia, while remaining listed on the NYSE. Coach (NYSE: COH - News) will issue Hong Kong depositary receipts, but no further action will be issued and no capital will be raised. While the coach has 55 stores in China vs 174 to the Japan, China is its region the fastest-growing and 11 that more stores are planned it this year. Shares rose 1.2% to 60,66.

SEC Chief: new trading rules must protect investors

WASHINGTON - the Securities and Exchange Commission is open to the relaxation of the rules for private companies issuing stock, President of the Agency said Tuesday. But he must first evaluate the benefits of these changes against a potential increase in fraudulent offers of stocks.

Private companies can keep their secret finances if they have fewer than 500 shareholders. Chairman of the SEC, Mary Schapiro said that the Agency is trying to see if it makes sense to raise this threshold.

A change would facilitate for Facebook, Twitter and others raise funds without the requirements of reporting for public companies.

Schapiro said that she supported the complaint of business that the current limit limits their ability to raise capital. But she and her staff, said looser requirements could also in the case of phony businesses more investor scams.

The most important objective is "getting the right balance between protection of investors and making access to affordable and effective capital", Schapiro told the group.

Some legislators said the current rules to discourage investment and limited economic growth.

"Effectively raise capital for the best investment opportunities in the United States is essential to the long-term viability of our position on the world market and a widespread economic recovery," said Rep. Darrell Issa, R-Calif., Chairman of the monitoring of the House and the Government Reform Committee,

After hearing testimony from Schapiro, Issa told his colleagues that he knows that the SEC should facilitate the rules.

Still, the current rules are designed to stop insider trading in the shares of information not available publicly.

Group, which finance leaders the a divisions of society of declared later this year.

The review staff is designed to develop ideas to reduce the costs of compliance without sacrificing protection of investors.

Facebook and Twitter, the rules would affect the daily refresh site together on and Zynga, the manufacturer of the online game "farmville."

Many of these companies are startups that the name. They have thousands of employees and estimated billions of dollars in annual income. But they put off the coast to make public. It is in part because they already have access to the capital of the deep-pocketed investors venture capitalists.

Sometimes groups of investors can bunch their assets together to give as if there are fewer shareholders that actually exist in a company.

Issa also wanted the SEC to take account of the exemption company employees that have actions to be taken into account in the limit. Cross stated that they are considering this change.

Summary box: Pfizer 1 q results counter investors (AP)

PFIZER FLOP: Drugmaker Pfizer Inc. shares drop in sales of dishes in the first quarter, amounting to generic competition, a decrease in revenue forecasts and pressure to sell shares of the growing company.

Results: the world largest Drugmaker earned a net income of $ 2.22 billion, or 28 cents per share, up to 10% due to declining costs. Revenue was $ 16.5 billion, just below Wall Street expectations.

THE problem: Pfizer some promising drugs in development, but it has not found a way to offset losses of patents for blockbuster Lipitor cholesterol and other drugs major or to boost its price depressed.