Category
Global Markets
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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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The New Cold War: How Russia Has Turned Its Energy Exports Into Weapons of Diplomacy
By Jason Simpkins Last week, (July 20) Chevron Corp. said it would challenge a $290 million back tax claim issued against the Caspian Pipeline Consortium by Russia’s Federal Tax Service. This is yet another attempt by President Vladimir Putin to seize control over all aspects of energy production and transportation within Russia. The Caspian Pipeline [...]
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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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China Raises Interest Rate for the Fifth Time This Year
By Jason Simpkins Staff Writer Hoping to tighten the belt on its rapidly bloating economy, the People's Bank of China on Friday raised interest rates for the fifth time this year. The interest rate on the one-year loan was raised 0.27% to 7.29%, effective Saturday. Rates paid on bank deposits were raised by a similar [...]
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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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Investments For A Weak Dollar World
By Martin Hutchinson Director of Global Investing Research The European euro hit a record value of $1.39 this past week, and the Japanese yen strengthened again to 114 to the dollar, well above the 120 it’s traded at most of the year. The British pound Sterling is at $2.03, back to levels it hadn’t seen [...]
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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. [...]
