MINING Goldcorp CEO Chuck Jeannes “Our Balance Sheet Is In Great Shape”»
NBA LeBron James Scored 32 Points; Miami Defeated San Antonio 103 – 100 In OT»
DETROIT – The stock market, economy and unemployment data showed signs of strength. U.S. joblessness has fallen to 8.3 percent, the lowest level in three years, according to the Labor Department. Central bank policy makers upgraded the outlook for the U.S. economy at their March 13 meeting, a factor that lead to the Fed’s “decision” in [...]
DUBAI is set to become the Middle East’s yuan clearing and settlement center by 2015, a United Arab Emirates government economist said on Tuesday. Starting this year, major UAE banks will offer yuan bank accounts for corporate clients. This will be another step to boost the yuan’s role in the region, following a currency-swap agreement [...]
Gilts might look like a safe option, but they carry real risk for investors Buying 100-year bonds from the British Government when interest rates are at historic lows looks like a gilt-edged way to lose money, as dismal returns on War Loan stock demonstrate. Gilts – or bonds issued by the British Government – which pay a [...]
BEIJING – China has made the first annual reduction in its holdings of US Treasury bonds in a decade. Experts are viewing the move as a sign that the country is accelerating the move away from dollar assets in search of more diversified investment channels. According to the latest monthly figures from the US Treasury [...]
NEW YORK – Gold plunged, heading for the biggest decline this year, on expectations that the Federal Reserve will refrain from taking new action to bolster the economy. Silver slumped the most since December. The dollar rebounded after Fed Chairman Ben S. Bernanke, in congressional testimony, gave no signal that the central bank is considering additional measures to [...]
Italian police have seized about $6 trillion of fake US Treasury bonds in Switzerland, and issued arrest warrants for eight people accused of international fraud and other financial crimes. The operation, co-ordinated by prosecutors from the southern Italian city of Potenza, was carried out by Italian and Swiss authorities after a year-long investigation, an Italian [...]
Warren Buffett, the billionaire chairman of Berkshire Hathaway Inc., said low interest rates and inflation should dissuade investors from buying bonds and other holdings tied to currencies. “They are among the most dangerous of assets,” Buffett said in an adaptation of his annual letter to shareholders that appeared today on Fortune magazine’s website. “Over the past century [...]
UK debt passes £1 trillion for the first time The UK Treasury has blamed “unsustainable” levels of spending by the last Labour government for public debt rising above £1 trillion for the first time. Public sector net debt excluding financial interventions, such as bank bail-outs, rose to £1.004 trillion in December, as the Government borrowed [...]
19.05 BREAKING It’s official. France’s finance minister Francois Baroin has confirmed that the country’s rating will be downgraded one notch to AA+. 18.45 Greek interim PM Lucas Papademos spoke today on the pressing need for an agreement between the country and its creditors on a 50pc writedown of it debt. According to an emailed transcript, he said: We are fully [...]
China’s December lending and money supply growth exceeded economists’ estimates, signaling monetary conditions may be easing as the nation’s central bank said it must be prepared for possible shocks from the U.S. and Europe. New loans (CNLNNEW) totaled 640.5 billion yuan ($101 billion) for the month, exceeding the estimates of all 18 economists surveyed by Bloomberg. M2, a measure [...]
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