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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Global Markets
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. […]
Euro Debt Market Faces 'Pivotal' Test With $140 Billion Maturing
From Staff Reports Companies in Europe face a situation in which they need to refinance nearly $140 billion worth of commercial by the end of next week, according to Deutsche Bank AG, Germany's biggest bank. This will increase corporate borrowing costs. According to Bloomberg News, Deutsche Bank Credit Strategist Jim Reid wrote in a research […]
World Bank Suggests Investor-Friendly Changes to Stabilize Chinas Rocketing Economy
By Mike Caggeso Staff Writer A slew of cold-hard statistics came out of China yesterday (Wednesday), reinforcing the nation's need to manage growth, interest rates and inflation. The World Bank's quarterly report said China's GDP is expected to grow a staggering 11.3% in 2007 and around 11% in 2008. Its CPI index (the bellwether for […]
Rio Tinto Antes up $350 Million for Ivanhoe's Mongolia Mining Deal
From Staff Reports Global mining giant Rio Tinto PLC. (RTP) Â has agreed to provide a credit facility of up to $350 million to Ivanhoe Mines Ltd. (IVN), its partner in Mongolia's Oyu Tolgoi copper-gold project. The credit agreement is part of an interim-funding deal to keep mining project-development work moving, and will also lead to […]
Alcoa Sells Chalco Stake for $2 Billion
From Staff Reports Alcoa Inc. (AA ), the biggest U.S.-based aluminum producer, has sold its nearly 7% stake in China's largest aluminum maker for $2 billion. The Pittsburgh-based Alcoa sold its interest in Aluminum Corporation of China Ltd., also known as Chalco (ACH ), for the equivalent of $2.23 a share, a 15% discount to […]
U.S. Global Investors to Focus on Global Infrastructure Investment Opportunities
From Staff Reports In a move that underscores the profit potential of global infrastructure projects, mutual-fund manager U.S. Global Investors Inc. (GROW) has installed a new global strategist who will focus exclusively on these opportunities. U.S. Global Investors – a stock that's favored by several of Money Morning's analysts – said this week that it […]
U.S. Stocks Soar Tuesday, Gold and Oil Prices Jump, but Trading Abroad is a Mixed Bag
From Staff Reports Stock prices soared yesterday (Tuesday), aided by some strong earnings reports and a growing belief that U.S. Federal Reserve policymakers will cut short-term interest rates at their Sept. 18 meeting. Oil prices hit a fresh record yesterday. West Texas Intermediate crude (October) gained 76 cents a barrel to close at $78.25 a […]
India Gains Importance as an Economic and Political Epicenter
By Jason Simpkins Staff Writer China’s rapid economic and military expansion is certainly a blip on everybody’s radar. It has a lot of investors excited, but it also has a lot of China’s neighbors worried. That’s why countries like Taiwan and Japan are making a point to further their involvement with India, another future world […]
Mattel Recalls Signal China's Arrival
By Keith Fitz-Gerald Contributing Editor On the heels of yet another Mattel Inc. (MAT) recall last week, many investors are wondering if shoddy manufacturing and poor quality control will be China’s undoing. I don’t think so. In fact, I’m sure of it. As a longtime China observer, I can tell you that that this is […]