Dec 14, 2010 ~ Business

Tuesday, December 14, 2010

Oil falls as Fed maintains stimulus Register

Crude oil fell after the Federal Reserve said it would maintain its plan to buy $ 600 billion of Treasuries in June, the dollar strengthened. Futures fell 0.4 percent as the Federal Open Market Committee said today that it will keep the program because the economic recovery is insufficient to reduce unemployment. An Energy Department report tomorrow may show that oil supplies fell last week. "There were rumors that the Fed would increase the stimulus beyond the $ 600 billion," said Jason Schenker, president of Prestige Economics LLC, an energy consultancy in Austin, Texas. "The dollar has strengthened in some cases since the announcement." Crude oil for January delivery fell 33 cents to settle at $ 88.28 a barrel on the New York Mercantile Exchange. Futures are up 27 percent from a year...

European shares rose for the seventh day

European shares rose for the seventh day, its longest winning streak in almost six months, better than forecast U.S. retail sales offset the decline in basic shares resources and automakers. Air France-KLM and Deutsche Lufthansa AG rose to Credit Suisse Group AG upgraded the airlines. ProSiebenSat.1 Media AG lost 5.7 percent as Die Welt reported that the owners of the largest private broadcaster in Germany to sell the company in 2011. Outokumpu Oyj sank 5.4 percent after saying the fourth quarter will be weaker than previously expected. European car manufacturers posted the worst performance among 19 industry groups. The benchmark Stoxx Europe 600 Index advanced 0.2 percent to 277.65 closing at 4:30 pm in London, having declined to 0.3 percent. The indicator has been met for seven days to...

Corn Futures Decline on Speculation

The corn was reduced from a maximum of one month on speculation that demand for grains used in livestock feed may decrease due to increasing the supply of low quality wheat. Wet weather could result in 60 percent of the wheat crop in three states of Australia is classified as food quality, Australia and New Zealand Banking Group Ltd. said Dec. 10. Up to 30 percent of the country's estimated 14.3 million metric tons of exports may be to food, said Wayne Gordon, an analyst at Rabobank International in Sydney. "U.S. export sales of corn could slow Asian power producers to buy more wheat from Australia, " said Jack Scoville, vice president of futures prices Group Inc. in Chicago. "Export demand is a bit slow, after prices rose, said Scoville. Corn futures for March delivery fell 1.25 cents,...

Jerry Moyes sale 25% discount to 07 IPO LBO rapid transit

Jerry Moyes, who took control of Swift Transportation Co., a leveraged buy 2.37 billion U.S. dollars in 2007, is planning an initial public offering that values the shipping company by 25 percent after three years loss. the largest airline in North American truck is trying to raise one billion U.S. dollars of sales 67,300,000 Class A shares of $ 13 to $ 15 each in today's second-largest U.S. IPO 2010, according to a filing Securities and Exchange Commission. The midpoint price would give the Phoenix-based company a market value of $ 1,780,000,000. Moyes pays about the same amount in May 2007 involving 74 percent of capital that had. Moyes, 66, co-founder of Swift in 1966 with one truck. He resigned as executive director in 2005. Now he is selling a 53 percent to help pay the debt after the...

Venezuela’s central bank plans to increase sales of dollar-denominated bonds that have to become the leading provider of foreign exchange to importers in the coming year, a government official said. Central Bank of Venezuela will sell up to $ 40 million a day in government bonds and the state oil company to supply the foreign exchange market Sitma for at least the first three months of the year, said the official, who asked not to be identified because t is not 'authorized to speak publicly. In June the government ordered commercial banks to sell dollar-denominated bonds to provide BRT. President Hugo Chávez tightened controls to curb capital...

Outstanding shares of the iShares Gold Trust

Outstanding shares of the iShares Gold Trust, the bottom of the fourth largest publicly traded backed by gold, rose in most of the more than four years yesterday. The number of shares increased by 27 million, or 7.6 percent, to 383.55 million, the biggest increase since February 2006. About 28 million shares changed hands yesterday in an operation block is equal to more than 90 percent of the volume of the day. Trade, which occurred at 1:41 pm in New York at 13.6762 per share, was worth about 383 million U.S. dollars. Soros Fund Management, according to the website Soro manages about $ 27 billion, added a stake in the iShares Gold Trust in the third quarter after cutting its stake in the SPDR Gold Trust, the largest gold-backed fund. Investors have amassed record amounts of precious metals...

China and India could increase coal imports by 78 percent to 337 million tons next year

China and India could increase coal imports by 78 percent to 337 million tons next year, raising prices further from the highest in two years and divert supplies from Europe to Asia. China could buy 233 million tons of fuel exports next year, up from net imports of 143 million in 2010, Citigroup Inc. said in a report dated 29 November. India faces a shortfall of 104 million tonnes in the 12 months ended in March 2012, mjunction Services Ltd., a commodities trader based in Calcutta, said in a note of 06 December, citing Coal Minister Sriprakash Jaiswal . two fastest-growing major economies in Asia are burning more fuel economic expansion and increasing demand for electricity. The International Monetary Fund forecasts that China's gross domestic product will expand next year by 9.6 percent...

The dollar fell against most of its counterparts

The dollar fell against most of its counterparts after the Federal Reserve said it would keep its asset purchase program in an effort to boost the U.S. economy. The U.S. currency extended a loss of 3.5 percent this month against the euro, the Fed said that after monetary policy meeting will continue with its plan of 600 billion U.S. dollars to purchase the Treasury scheduled to run until June. The central bank said last month it would inject more money into the economy with the program, known as quantitative easing, to try to spur inflation and employment. yields on Treasury bonds remained high. "It was largely a repeat of the November session," said Nick Bennenbroek, head of currency strategy at Wells Fargo & Co. in New York. "They are clearly keeping the policy course they are." The...

Goldman Sachs Asset Management Chairman Jim O'Neill, said that Brazil's currency may be overvalued and predicted more volatility in the debt markets in the euro zone in 2011. "People have to be a little careful about Brazil, but has come a long way, " O'Neill said in a radio interview today on surveillance with Tom Keene. "The currency is overvalued. I that the people of Rio and Sao Paulo I visited in London and the description of London as economic. " The comments are a reminder of how much has changed since O'Neill coined the acronym BRIC in 2001 to describe the rise of Brazil, Russia, India and China as economic powers. The Brazilian real...

The euro may gain against the dollar as the Federal Reserve purchases of Treasuries to widen the yield spread between Germany and the U.S. The two-year bonds, Citigroup Inc. said "With the European Central Bank is still perceived as tougher than the Fed, the euro and the dollar should continue receiving support cyclic differential rates for two years, "he wrote Valentin Marinov, currency strategist at Citigroup in London, in a report released today. "There may be indications that the Fed could accelerate their purchases of bonds in the future if the upward pressure on the perseverance of Treasury yields." The euro gained 0.1 percent to $...

Emerging market stocks rose

Emerging market stocks rose, lifting the benchmark index to a maximum of one week, after Hyundai Heavy Industries Co. won more orders are sent from a client and inflation slowed to India at least 11 months. The MSCI Emerging Markets Index rose 0.5 percent to 1128.28 as of 10:31 am in New York, went to its highest close since Dec. 7. The Bombay Stock Exchange Sensitive Index rose 0.6 percent, falling inflation led to speculation the central bank to pause in raising interest rates. reference measurements in Russia and Brazil fell. Hyundai Heavy, the world's largest shipbuilder, rose 8.9 percent in Seoul after Hapag-Lloyd AG container increased request. Sterlite Industries (India) Ltd., the largest copper producer in India, rose by 3.4 percent as the metal rose to a record. Hon Hai Precision...

Expand Schools Courses Amid shortage Sharia Scholar

Universities are expanding Islamic finance courses as the demand for qualified professionals in Islamic law exceeds supply in the industry $ 1 billion. International Islamic University Malaysia plans to start postgraduate courses specializing in capital markets that comply with Shariah, banking and insurance after the registration of its overall finances to comply with Muslim principles tripled in the last year said Professor Mohd Azmi Omar, the dean of the institute. La Trobe University in Melbourne, which began classes this year, is working with officials in Malaysia to provide industry recognized qualifications. The lack of skills is one of the biggest challenges for the expansion of the global Islamic banking, based in Washington, said Patrick Imam, an economist at the International...

Fed Retains $600 Billion Bond-Buying Plan to Boost Economy

Federal Reserve maintains its plan to expand the monetary stimulus registration, saying that economic growth has not been strong enough to reduce unemployment. The Fed has 600 billion U.S. dollars in purchases of Treasury are aimed at promoting a recovery that has been "disappointingly slow" and keep prices stable "over time", said the Federal Open Market Committee in a statement today in Washington. The central bank reiterated its pledge to leave interest rates low for a "prolonged period". Chairman Ben S. Bernanke, is resisting the top Republican lawmakers critical for the survival of unconventional efforts to reduce persistent unemployment rate near a maximum of 26 years. Gains in manufacturing, retail sales and inflation expectations indicate purchases of assets may be helpful. The strengthening...

Largest price increase since July inflation units Bonds

Argentina may report an increase in consumer prices fastest since July, fueling demand for peso bonds indexed to inflation, investors have delivered nearly twice the performance of public debt in dollar terms this year. The national statistics institute said today that prices rose 11.2 percent in November from the same month a year ago, compared with an increase of 11.1 percent in each of the three previous months, as estimated median of seven analysts surveyed by us. The yield of 7.13 percent in Argentina, local currency bonds indexed to inflation compared to 3.3 percent in Mexico and 6.07 percent in Brazil, according to Barclays Plc. Argentina's peso bonds tied to consumer prices returned 52 percent this year, compared with 34 percent for dollar bonds, according to Barclays and JPMorgan...

Gold gained for a second day in New York

Gold gained for a second day in New York as the weak dollar boosted demand for the precious metal as an alternative investment. The dollar fell to a three-week low against the euro on speculation the Federal Reserve may signal today is open to purchases of increasing debt beyond the $ 600 billion already announced. Gold, which usually moves inversely to the dollar reached a record $ 1432.50 an ounce on 07 December. "The weak U.S. dollar is leading to gold," said Peter Fertig, owner of Quantitative Hainburg Commodity Research Ltd., Germany, today by phone. "There is still an argument for further implementation of quantitative easing in the U.S. that would benefit gold." Gold for February delivery rose 50 cents to $ 1,398.50 an ounce at 8:43 am on the Comex in New York. Gold will average...

A drop in mortgage bonds backed by the government

A drop in mortgage bonds backed by the government that sent yields to the highest level since May of threat to the recovery of the U.S. housing market, which had been fueled by historically low borrowing costs. Yields on Fannie Mae to guarantee that most affect lending rates jumped as high as 4.21 percent yesterday, up 1 percentage point from a record low in October. Completed the New York market by 4.1 percent. The highest rates of loan "will not be fun" for a weak housing market, said Scott Simon, director of mortgage bonds in Newport Beach, California, Pacific Investment Management Co., manager of the largest bond fund in the world. "If you're thinking of buying a house a few weeks ago, the same house, you, it seems that up to 9 percent more expensive," he said. The agency mortgage securities...

Asian Stocks Rise to Two-Year High

Asian stocks rose, lifting the regional benchmark index to its highest level since July 2008, as rising commodity prices lifted shares of raw materials. Japanese exporters fell as the yen rose against the dollar. BHP Billiton Ltd., the world's No. 1 mining company, advanced 0.5 percent in Sydney after copper prices hit a record price of crude oil advanced. CNOOC Ltd., the largest producer of offshore oil, rose 0.8 percent in Hong Kong. Reliance Industries Ltd., which owns the largest refinery complex in the world, rose 1.3 percent in Mumbai. Canon Inc., the world's largest manufacturer of cameras, sank 0.5 percent after the yen's advance against the dollar soured its earnings forecast. The MSCI Asia Pacific Index rose 0.9 percent to 135.5, the highest level since July 24, 2008, from 19:46...

U.S. Stock index futures fluctuated

U.S. Stock index futures fluctuated, indicating the Standard & Poor's 500 will remain near the highest level since Lehman Brothers Holdings Inc. 's 2008 bankruptcy, before a meeting of the heads of the Federal Reserve. Amgen Inc., the world's largest biotechnology company, advanced 7.7 percent in early trading after a study showed one of its drugs delay the spread of prostate cancer to the bones of men. HCP Inc. may move as the health care real estate investment trust agreed to pay 6.1 billion U.S. dollars for 338 nursing homes in UNHCR ManorCare Inc. Futures on the S & P 500 expiring in March rose 0.1 percent to 1238 at 6:30 am in New York. The index has risen 11 percent this year, the Fed announced a program of 600 billion U.S. dollars of bonds with an option to purchase to help...

LontohCoal has contracted with Samsung Securities Asia Ltd

LontohCoal Ltd., the South African Closed coal mining company, has contracted with Samsung Securities Asia Ltd as lead manager for its initial public offering in Hong Kong, CEO Tshepo Kgadima said. Power producer with assets of thermal coal and steel making in South Africa and Zimbabwe plan to raise up to U.S. $ 500 million selling shares in Hong Kong and may list in the first half of next year, Kgadima said in an interview on TV today. "We've been talking to a number of private equity funds and sovereign wealth funds," he said in Hong Kong. The proceeds from the sale of shares will be used to develop LontohCoal mine in South Africa, KwaZulu-Natal and Limpopo provinces, and coal deposits Lubimbi in Zimbabwe, where production is expected to begin next year, said the C...

Bonds Irish Portuguese peers as shopping ECB rates

European Central Bank purchases bonds secured Ireland and Portugal beat their fellow euro region this month, even as Deutsche Bank AG plans to Portugal will be the next country forced to seek help. Ireland bonds gave investors a return of 6.9 percent since late November, cut losses this year to 10.3 percent. Portuguese debt advanced 3.7 percent, compared with a gain of 1 percent for Spanish stocks and 1.04 percent for Italian bonds. Investors lost money in AAA debt rating German and French, according to data compiled by us and the European Federation of Financial Analysts Societies. "The excess return of Irish and Portuguese bonds was probably more or less down to buy BCE reported aggressive," said Mohit Kumar, fixed income strategist at Deutsche Bank AG in London. "I see no improvement...

Resource Capital Funds & Australia Tax Office Agree to Settle Court Dispute

Resource Capital Funds and Australia tax office agreed to settle a civil dispute, less than two weeks after private equity firm based in Denver criticized the authority's handling of the case. The Australian Tax Office and Resource Capital Fund III, LP, a fund company to buy ", has reached an agreement to resolve outstanding issues relating to current procedures," they said in a joint statement e-mailed today. He said if the agreement includes a financial settlement. The Australian newspaper said Dec. 4 that the tax office had frozen the local assets of Capital Resources, based in its structure may allow offshore to avoid taxes. The ATO was seeking $ 43 million (42.8 million U.S. dollars) in taxes, penalties and interest, the newspaper said, citing court documents in Perth, Western Australia. Capital...

Taiwan Dollar Rises to 13-Year High With a gain of .05 Percent

Taiwan dollar the best performing currency in Asia this quarter, finished with a gain of 0.5 percent after the withdrawal of a 13-year high on suspected central bank intervention. The currency rose to 2.3 percent to NT $ 29,890 against the dollar, its highest level since October 1997, before paring its gain to close at NT $ 30.45. The currency has advanced 4.5 percent this quarter, global funds bought $ 1,500,000,000 shares in the country more than they sold this month, boosting the year's net purchases of U.S. $ 8 billion. "Strong foreign capital inflows and strong economic growth are factors increasing the Taiwan dollar," said Henry Lin, a currency trader based in Taipei in Taiwan Shin Kong Commercial Bank. "The central bank will not allow a large increase in the currency. It's going to...

Qatar Sees More Output Gains

Qatar met the chief executives of major energy companies to celebrate reaching an annual production capacity of 77 million tons of liquefied natural gas, underlining its status as the world's largest exporter of LNG. The Persian Gulf state may further increase its capacity to 10 million tonnes a year if it can improve efficiency in their production units, the Energy Minister Abdullah al-Attiyah told reporters. Exxon Mobil Corp. 's Rex Tillerson, Royal Dutch Shell Plc Voser Peter and ConocoPhillips, Jim Mulva, were among the executives who attended the ceremony in the industrial city of Ras Laffan Qatar yesterday. "If we want to expand in the future, we will expand as a renewal" so that existing facilities more efficiently, al-Attiyah said yesterday. The construction of new LNG would be a...

Business

Welcome to our website