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Friday, December 10, 2010

Canadian dollar headed for the biggest weekly loss in a month against the dollar

Canadian dollar headed for the biggest weekly loss in a month against the dollar as investors speculated the central bank will not raise interest rates until late next year and crude oil, the mainstay of country's exports, fell. The Canadian dollar as Canada's currency is nicknamed, has declined 0.5 percent in the last five days. Bank of Canada Governor, Mark Carney, kept the benchmark interest rates steady at 1 percent on 07 December for the second consecutive meeting, highlighting the threats to economic recovery. "The statement of the Bank of Canada this week will be a drag on the currency, because there is absolutely nothing out there...

Senate considers a measure to reduce taxes that would add $ 857 million to U.S. debt

Senate leaders issued an agreement designed by the White House and Republicans to keep rates the Bush tax until 2012, the estate tax set at the lowest rate in 80 years, increase aid and reduce unemployment payroll taxes by 2 percentage points. Legislation to add 857 billion U.S. dollars to the federal debt over 10 years, government analysts. President Barack Obama, in an interview with NPR Broadcast News today, said he is "confident" that the tax treaty will largely intact to keep the tax cuts that expire at the end of the year. "No one - Democrat or Republican - wants to see paychecks of the smallest people on Jan. 1 because Congress did...

Russia's second largest bank has become the first company of one of the emerging markets outside Asia to sell bonds

VTB Group, Russia's second largest bank has become the first company of one of the emerging markets outside Asia to sell bonds denominated in Chinese yuan, reduce the cost of raising money by looking east instead of west. VTB sold 1 million yuan ($ 150 million) three-year bonds yielding 2.95 percent today. The offer was "oversubscribed significantly, with Asian investors accounting for about 90 percent of the sale, the bank said in a statement. VTB ruble bonds due in October 2013 are yielding 7.58 percent and the rate of dollar bonds in March 2015 is 5395 percent. The Moscow-based bank is McDonald's Corp. and Caterpillar Inc. in the sale of debt debut yuan this year to expand its funding sources. Russia and China are trying to promote the use of international currencies, as well as bilateral...

German stocks climb to two-year high.

German stocks rose, sending the benchmark DAX Index to its highest close in more than two years, amid forecasts that companies will continue to grow profits even if the crisis spreads to Europe of sovereign debt. Automakers led gains on the DAX, up at least 3 percent. MorphoSys AG gained 10 percent after raising its sales outlook. Symrise AG retreated 3.3 percent, Deutsche Bank downgraded the shares of the fragrance manufacturer. The DAX rose 42.01, or 0.6 percent, to 7006.17 at the close of 5:30 pm in Frankfurt, its highest level since June 2008. The index has advanced 0.8 percent this week, its fourth consecutive weekly rise, the longest streak of gains since April. HdaX The broader index also rose 0.6 percent today. "European stocks continue to benefit from low valuation levels and modest...

Obama directed his staff to analyze options for the U.S. Review Tax system

President Barack Obama has turned to his economic team to begin discussing options for revising the tax code U.S. as part of an effort to cut the deficit in the long term, a government official said. No decisions have been made on the options to continue or a deadline for the submission of a plan to lawmakers, said the official, who spoke on condition of anonymity because no official decision has been taken. The changes will probably take years to implement. Obama said this week that modernize the national tax system need to be considered to deal with budget deficits and the tax code more "fair" and "efficient." "The idea is to simplify the system, is expected to cut rates, base broadening," Obama said in an interview with NPR News. "What I think is, is that we have to start that conversation...

United Nations envoys from 193 countries are trying to end two weeks of climate negotiations today with an agreement

United Nations envoys from 193 countries are trying to end two weeks of climate negotiations today with an agreement that satisfies both the richest and poorest advances and treaty negotiations. "He is beginning to accumulate," said UK Secretary of State for Energy and Climate Change Chris Huhne today in Cancun, Mexico. "We are in a much better position than they were in Copenhagen, but potentially anything to stop one or more countries to have a tantrum and throwing all his toys out the pram." After pushing last year for a legally binding agreement to limit emissions collapsed in Copenhagen, the UN reduced its ambitions. Huhne said last night that negotiations lasted until 3:30 am and sent "found a potential way through" difficult issues. Disputes over how to reduce greenhouse gases can...

Gold futures fell heading for a weekly loss

Gold futures fell, heading for a weekly loss, as the concern that China could bolster demand for monetary erosion of precious metals. Silver, palladium and platinum also fell. China, the second-largest gold buyer largest-ordered lenders to park more money with the central bank for the third time in five weeks. Before today, gold climbed 27 percent this year, reaching a record $ 1432.50 an ounce on 07 December. "Gold is temporarily moving lower in the attempt by China to slow its economy," said Marty McNeill, a trader at RF Lafferty & Co. Inc. in New York. "A lot of hot money has gone to China, so when it starts to break down, gold is...

Cotton jumped to the highest price in almost a month

Cotton jumped to the highest price in almost a month after the U.S. government cut its forecast for production and inventories. Orange juice fell. U.S. stocks for the year ending July 31 at a total 1.9 million bales, up 14 percent from last month's forecast of 2.2 million, the Agriculture Department said. U.S. Harvest will be 0.8 percent lower than last month's estimate, the agency said. Before today, cotton increased 80 percent this year, heading for the biggest annual gain since 1973. "We have a number of upbeat U.S. stocks because they reduce the incredibly low numbers," said Sharon Johnson, analyst at Penson future in Atlanta. Cotton...

Occidental to pay $ 3.2 billion for the U.S. Campos, Argentina Sell Wells

Occidental Petroleum Corp., the U.S. energy company which is the sale of their wells from Argentina to China's biggest refiner, agreed to buy oil and natural gas in Texas and North Dakota for $ 3.2 billion. Purchases of the Royal Dutch Shell Plc and a seller without a name will add the equivalent of 100,000 barrels of daily oil production over time and contribute to the results immediately after closing in Los Angeles, Occidental said in a statement. The company also confirmed a statement issued China Petrochemical Corp. today that Occidental will sell its oil from Argentina and gas subsidiary of $ 2,450,000,000. It is the largest acquisition by the West since 2006, when he purchased Vintage Petroleum of 4.46 billion. Excluding the operations announced today, Occidental's chief executive,...

May Immelt signal growing confidence in GE by Raising Dividend

CEO Jeffrey Immelt, can show their confidence in the outlook for General Electric Co. 's growth next week to outline the investment plans and the second dividend increase in six months. GE, which accumulated cash of approximately $ 78,000,000,000 at September 30, released its earnings for the second consecutive win in the last quarter and showed a simultaneous increase in orders for service and equipment for the first time in two years. finance unit, GE Capital, expected annual earnings of $ 3 billion this week. The "comfort factor with investors has increased significantly" from GE Capital, said Jeffrey Sprague, founder of Vertical Research...

Merkel and Sarkozy says 'non-negotiable Euro survival' Before the EU summit on crisis

Germany and France, said the euro zone behind to make their economies more competitive to help overcome the debt crisis, pledging to do everything necessary to defend the currency in a European Union summit next week . the survival of the euro is "not negotiable", that require monitoring of the budget and closer economic cooperation to overcome the "structural weaknesses" in the euro region, Chancellor Angela Merkel and President Nicolas Sarkozy said today. Joint bond was discarded and rejected any increase in the size of the 440 million euros (583 billion) rescue fund established in May. "If the euro, Europe," Merkel told reporters in the...

Gold, copper, oil, corn extend gains next year

Commodities such as copper, gold, crude oil, corn and soybeans next year will extend gains in emerging markets boost aggregate demand, as supplies tighten, Morgan Stanley, said. World gross domestic product will increase by 4.2 percent in 2011 to almost 5 percent this year, with more than 70 percent of the growth coming from emerging markets, the bank said in a report. It said at that favors natural gas, live cattle and feeder cattle and zinc. Copper rose to a record yesterday on the London Metal Exchange as head of the stock of inventories for the first annual contraction since 2004. Gold hit a record high this week as investors sought an...

At least 19 countries will be absent from today's ceremony awarding the Nobel Peace

At least 19 countries will be absent from today's ceremony awarding the Nobel Peace Chinese dissident Liu Xiaobo following his government's campaign to present the award as a Western effort to undermine his authority. Those absent included the countries with elected governments such as Cuba and Saudi Arabia, China and Vietnam, Kazakhstan neighbors and U.S. allies Colombia and Egypt. His decision to skip the ceremony in Oslo, is presented as a spokesman of the Ministry of Foreign Affairs of China, Jiang Yu, mocked the award as a "sham" given by "clowns" in comments to reporters in Beijing on 7 December. "Mr. Liu Xiaobo is much more deserving of this award than me," President Barack Obama said in a statement emailed to reporters. "I regret that Mr. Liu and his wife were denied the opportunity...

Areva to raise $ 1.2 billion sale of shares to Kuwait, France

Areva SA, the largest supplier of nuclear reactors, increased € 900 million ($ 1.2 million) in a stock sale, bringing in a sovereign wealth fund, Kuwait, alongside the French state to help finance investments. Kuwait Investment Authority is offering to buy 600 million new shares, giving 4.8 percent of the company based in Paris, the French Finance Ministry said today in a statement. The state, which owns 91 percent of Areva, will buy another 300 million euros of new shares. France has been in talks for a year to sell up to 15 percent of the company in Kuwait, Japan's Mitsubishi Heavy Industries Ltd. and Qatar's sovereign wealth fund. Areva...

Stocks Fall for First Day in Four on Milan Borsa

Italia referencia FTSE MIB índice cambiado poco, perdiendo menos del 0,1 por ciento, a 20,517.46 a las 1:04 horas, en Milán. El medidor es un 2 por ciento esta semana. Las acciones siguientes se encuentran entre los más activos en el mercado italiano de la actualidad. A2A SpA (A2A IM) aumentó por quinto día consecutivo, ganando un 2,4 por ciento a 1,07 euros. Equita Sim SpA quita más grande de servicios públicos municipales de Italia de su "cartera de al menos preferido." Bulgari SpA (BUL IM) subió un 3,1 por ciento a 7.89 euros, poniendo fin a una pérdida de dos días. Las acciones de beneficio del mundo joyero tercera más grande de "especulación renovada con respecto a un posible uso de dinero en efectivo por PPR SA, después que la compañía francesa acordó vender su cadena de Conforama",...

Oil rose for a second day in New York

Oil rose for a second day in New York on signs that demand from China will support measures to slow the economy and U.S. consumption is recovering. Further reduced its weekly decline after China said that imports of crude rose in November and the International Energy Agency raised its forecast for 2011 oil demand for the third month. A report by the U.S. government yesterday showed jobless claims fell more than expected. China's central bank said it would raise the amount of the nation's lenders must keep as reserves of 20 December. "The current prices have a lot to do with the strong demand out of China, as well as cold weather in the U.S. and Europe," said Thorbjoern Bak Jensen, an analyst with Global Risk Management in Middelfart, Denmark. "However, both inventories and OPEC capacity...

The euro fell against 12 of its 16 most-traded counterparts officials disagreed on how to end the crisis of sovereign debt before next week's summit of EU leaders. The single currency posted its biggest decline against the Norwegian krone and the New Zealand dollar. The Australian dollar headed for a weekly decline of speculation that China will tighten monetary policy. France yesterday backed Germany to refuse to add to 440 EU million euros (581 billion U.S. dollars) bailout fund and bonds decline sets in the euro zone. The opposition "will probably scupper the idea of e-bond and probably would be taken very negatively by the markets, so...

The International Energy Agency may be overestimating the prospects of next year

The International Energy Agency may be overestimating the prospects of next year for the supply of crude oil produced by the exclusion of the Organization of Petroleum Exporting Countries, according to Nomura International Ltd. The Paris-based energy consultant last month it expected crude supplies from non-OPEC countries will increase by about 800,000 barrels in 2011, while the group's production of natural gas liquids, which are not part of their production oil will increase by about 700,000 barrels a day. "The IEA estimates are on the aggressive side," said Nomura analyst Michael Lo and Cheng Khoo in the note sent by email today. "OPEC NGL might come in lower than expected given the current weakness in natural gas market." Qatar, UAE, Saudi Arabia, Iran and Algeria can not contribute...

U.S. -stock futures gained

U.S. -stock futures gained, indicating that 500 of Standard & Poor's can be extended by a maximum of two years, a report may show consumer confidence in the world's largest economy rose this month. Beckman Coulter Inc. rose 16 percent in German trading as people with direct knowledge of the matter said the company is considering a sale after being approached by private equity firms. Capstar Mortgage Corp. rose after announcing a quarterly dividend higher. Procter & Gamble Co. won as Goldman Sachs Group Inc. recommended buying the stock. National Semiconductor Corp. plunged 7.1 percent after forecasting third-quarter sales that fell below analysts' estimates. Futures on the S & P 500 will end in March 2011 rose 0.2 percent to 1230.80 at 11:53 in London. The benchmark for U.S....

Drag the debt stock of Europe as strategists gain 2011 View

European shares rise 12 percent until late next year, surpassing the gains of 2010, as rising incomes and historically low interest rates to help businesses overcome the sovereign debt crisis, a survey of 13 strategists sample. Goldman Sachs Group Inc., the most optimistic forecaster, said that the Europe Stoxx 600 Index will be joined by 20 percent, because the benefits can extend twice as fast as the rate of 14 percent over 26,000 average analyst estimates compiled by us. Bayerische Motoren Werke AG and WPP Plc, the largest global advertising can increase revenue by an average of 18 percent next year. "People have problems with continued...

European stocks fluctuated with reference gauge heading for a weekly demonstration in the second place

European stocks fluctuated, with reference gauge heading for a weekly demonstration in the second place, as investors speculated that the benefits exceed the sovereign debt crisis. U.S. futures and the index rose, with shares in Asia were little changed. TomTom NV gained 6.7 percent as UBS AG recommended buying shares of the largest European manufacturer of portable Navigation devices. MorphoSys AG advanced 6 percent after increasing its sales forecast. Standard Chartered Plc lost 2.3 percent after Bank of America Global Research Merrill Lynch cut its stance on the shares. The Stoxx Europe 600 index added 0.1 percent to 276.25 as of 10:08 am in London, since the measure went to a weekly increase of 2 percent, its first weekly gain in back-to- back "since October. The index has risen 8.8...

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