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Global Investing

Oil Surges Toward $85 A Barrel

By Jason Simpkins Staff Writer Crude oil spiked to a new all-time intra-day high of $82.51 a barrel – finally closing at a record $81.93 a barrel, up 42 cents – on the New York Mercantile Exchange yesterday (Wednesday), thanks to continued concerns over refinery outages and after a U.S. Energy Department report showed a […]

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Global Business Roundup: BoE Injects $20B, Steel Prices Surge, Arcelor on the Prowl, Mitsubishi Plugs Into Russia, H-P is Taken With Taiwan, Hyundai Eyes China, and More

In other top business and financial stories from around the world: The Bank of England said yesterday (Wednesday) that it would inject  $20 billion into the long-term money markets next week because of the ongoing worldwide credit crunch. The British central bank is addressing liquidity issues in the so-called “Interbank” market – where commercial banks […]

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Germany Eyes Ownership Stake in Airbus Parent EADS

From Staff Reports Germany could take a direct stake in the problem-plagued European Aeronautic Defence and Space Co. NV aerospace group – the parent of airliner builder Airbus SAS – in 2010, a German official said Tuesday. Germany would replace a consortium made up of German states and investors, Germany’s Deputy Economy Minister for Aerospace […]

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EU Presses for More Energy Control

By Jason SimpkinsStaff Writer The European Commission yesterday (Wednesday) introduced a plan calling for a massive restructuring of power grids throughout the continent.  The plan was designed to reduce the region’s vulnerability to the massive energy companies that control the production and transmission of gas and electricity. Currently, large energy companies monopolize energy production and […]

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SK Group Getting Huge Boost From Asian Expansion

From Staff Reports SK Engineering & Construction, an affiliate of South Korean industrial conglomerate SK Group, has been turning its focus away from its small peninsula to the expanding economies of India, Singapore, Indonesia and Thailand, where industrial plants are popping up at rapid pace. Earlier this month, SK E & C reached a deal […]

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South Korean Government Imposes Discounts on Mobile Phone Subscribers

From Staff Reports SK Telecom (SKM), a SK Group subsidiary, took a cue from the U.S.-based Verizon Communication Inc. (VZ) by lowering rates for calls made from one SK Telecom subscriber to another — providing they agree to a 2,500 won ($2.70) increase in their monthly bill. SK Telecom is the largest mobile carrier in […]

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India's Richest Realtor Lobbies For a Rate Decrease Despite Strong Growth

By Mike Caggeso Staff Writer A decline in housing prices in India have led billionaire investor Kushal Pal Singh, the chairman of DLF Ltd., India’s biggest real-estate developer, to call on the Reserve Bank to lower interest rates. According to Reuters India, Singh told reporters that “because of high mortgage rates and monetary policy, the […]

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The Booming Economy You Never Heard About: Peru Makes Its Way In South America

By Jason Simpkins Staff Writer Thanks in part to the economic policies of President Alan Garcia, the Peruvian economy finds itself moving in the right direction.  Its economy grew at a rate of 8% last year, the eighth consecutive year of economic expansion.  Meanwhile inflation is running under 2%.  The international community has begun to […]

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Analysts Wondering About Alcoa's Next Move

From Staff Reports Just what motivated Alcoa Inc (AA) to dump its stake in China's biggest aluminum company this week is not clear, but the $1.8 billion cash infusion should appease suffering stockholders while giving the aluminum giant maneuvering room. It’s only been a few months since Alcoa's hostile attempt to buy Canadian rival Alcan […]

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Cotton Futures Set to Jump 66% on Rising Incomes in Asia, Global Shortages

By MoneyWeek Magazine Cotton is becoming an increasingly hot commodity. Global demand is expected to exceed supply by 1.6 million tons this year, the biggest shortfall in five years. Moreover, prices for cotton futures are set to jump 66%, from 60 cents to $1 a pound, according to Roland Jansen of the Mother Earth Fund. […]

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