Archive for October, 2011
Japan acts to curb rise in the yen before G-20
Japan went on the market to sell yen for the second time in less than three months after the currency hit a record high against the dollar on Monday, saying he acted to counter the excessive speculation which has been hurting the third world economy. The intervention brought the dollar to rise above 4 percent, [...]
Wall Street futures point to lower open for stocks
Futures indices of U.S. stock futures pointed to a lower open on Wall Street securities on Monday, at a time when European stocks traded with setbacks under pressure from the mining sector. Shares of European mining sector fell by Japan’s decision to intervene in the foreign exchange market to halt the rise of its currency [...]
METALS-Copper down for less optimistic about euro zone
Copper fell on Monday as the dollar increased and more realistic after the initial enthusiasm for the agreement of the European debt by the fact that the bloc’s economic problems are far from resolved. * However, the metal was still on track for its biggest monthly gain since December last year. * Copper for delivery [...]
Eurozone inflation 3 pct in October, unemployment 10.2 pct in September
The consumer price index in the euro area from 17 countries stood at 3 percent annually in October, according to a first estimate of the statistical office Eurostat the EU, suggesting that the European Central Bank would wait until December to change the rates. Inflation was higher than expected in a Reuters poll of economists, [...]
OIL – Barrel gives strength to dollar after yen intervention
Oil prices down on Monday, when Brent fell below $ 110 as the dollar rose against the yen after Japan’s currency intervention. * Investors and analysts said this week could be volatile business due to a series of economic events centered around the Federal Reserve, European Central Bank (ECB) and the meetings of the Group [...]
Dollar jumps vs. yen after intervention, give bags in Asia
Stock markets in Asia and commodities retreated on Monday and the dollar rose to a three-month high against the yen after Japan intervened the foreign exchange market, prompting investors to collect profits after the stock market rally of the week last. The dollar rose more than 4 percent against the yen over 79 units, hours [...]
Panasonic provides the worst annual loss in a decade
The Japanese electronics maker Panasonic expected annual net loss of 420,000 million yen (5,500 million), the worst in a decade, before rising restructuring costs and weak demand in the U.S. and Europe. Panasonic, which deals with the cost of layoffs as it reduces costs and getting rid of overlapping business after the acquisition of its [...]
29 miners killed by an explosion of firedamp in a mine in central China
Best Growth Stock – A firedamp explosion in a mine in central China’s Hunan Province today left 29 dead and 6 wounded being treated at a local hospital, local authorities said. The accident occurred when 35 miners were working in the coal mine Xialiuchong in the city of Hengyang. Six of the picks were rescued [...]
Summit makes strong commitment to combat terrorism
Best Growth Stock – Participants in the XXI Latin American Summit today pledged to fight terrorism with “strict adherence” to the law and end impunity for terrorists, while solidarity with its victims. In one of the special statements adopted by the Summit held in Asuncion, the Heads of State and Government of Latin American countries, [...]
Libyan oil exports will rise to 350,000 bpd in November: sources
The Libyan oil exports will rise to almost 350,000 barrels per day (bpd) in November, more than double the amount sold the previous month, said sources told Reuters on Sunday the National Oil Company (NOC). NOC plans to sell a total of up to 14 cargoes of oil from several fields, mostly in eastern and [...]
