2007 September
Warren Buffett's Berkshire Hathaway is Riding the Rails Again
Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) – on a railroad kick since early this spring – has purchased 6,000 more shares of Burlington Northern Santa Fe Corp. (BNI), the latest in a series of significant railroad-share purchases made by the Omaha investment firm.
Housing Sales and Prices Drop As Consumer Confidence Retreats
The news on the U.S. housing market continues to get worse. And the slump is now affecting the consumer psyche. Read the full report here…
Australia's Moly Mines Turns Attention to New Project
From Staff Reports With prices for the metal molybdenum remaining high, Australia's Moly Mines Ltd. has turned its attention to the huge financing task ahead after demonstrating its $582 million Pilbara moly project could provide good returns in the current economic environment, the Sydney Morning Herald reported. A financial feasibility study released yesterday (Monday) said [...]
GM Strike Could Intensify Economic Slowdown
From Staff Reports In a report from the Associated Press it was revealed that The strike against automaker General Motors Corp. (GM) could do significant damage to the economy, if the two sides can't settle the standoff by the end of the week, The Associated Press reported yesterday (Tuesday). If the two parties settle the [...]
High Debt Levels Leave Aussie Households 'Exposed,' Australian Reserve Bank Says
From Staff Reports Australia's ongoing economic boom – fueled by the continued growth in the Asia-Pacific Region – has left Aussie families less leery of debt, and more vulnerable to an economic shock or recession, Reserve Bank Deputy Governor Ric Battellino stated at a convention in Melbourne yesterday. At a convention organized by the 'Melbourne [...]
With Oil, Uranium and Gold, There’s Nothing Crazy About This Canadian Loonie Tune
By Martin Hutchinson Director of Global Investing Research The Canadian dollar – also known as “The Loonie” – moved above $1 last week, an extraordinary turnabout for a currency that was languishing down around $0.62 in January 2002. Americans are used to acting somewhat condescending toward their northern neighbor, but in this period of high [...]
Mexico, Colombia Both Hold the Line on Interest Rates
From Staff Reports Mexico's central bank on Friday kept its benchmark interest rate unchanged at 7.25% for a fifth-straight month – but signaled that it is prepared to raise borrowing costs if food and energy costs don't drop back. Colombia's central bank on Friday held its benchmark overnight interbank rate unchanged at 9.25% for a [...]
China Covets Crude
By Jason Simpkins Staff Writer China's top oil producer, PetroChina Co. Ltd. (PTR), has raised its production estimate for the Jidong Nanpu oil field. The field is located in the Bonhai Bay area and is one of China's biggest discoveries in recent history. "We estimate that, eventually, we could have proven reserves of as much [...]
India’s Outsourcing Capacities are Evolving and Shrinking at the Same Time
By Mike Caggeso Staff Writer On the surface, India is still breaking records as the hub of global outsourcing. Revenues from the insurance industry’s business processing outsourcing (BPO) are estimated to eclipse $2 billion and its India-based workforce is expected to double past 100,000 by 2010, the Economic Times of India reports, citing research from [...]
Dutch Saudi Joint Project Soon to be the Largest U.S. Oil Refinery
From Staff Reports Royal Dutch Shell PLC (RDS.A RDS.B) and Saudi Arabia's Saudi Aramco have announced the $7 billion expansion of a refinery in Port Arthur, Tex., which will make it the largest facility in the United States, according to Forbes.com. The refinery's output will be beefed up from 275,000 barrels of crude per day [...]
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