News
The Begining of the End at Fortescue Metals Group Limited ASX:FMG
The Beginning of the End at Fortescue Metals Group Limited ASX:FMG Major Financier Jumps Ship at Fortescue Metals Group Limited ASX:FMG Not surprisingly Andrew Forrest has worn out yet another lender, this time it is Leucadia the Manhattan-based investment fund. In itself, Leucadia's decision to sell is not troubling, however those that can remember Forrest's fiasco at Anaconda may be reachi ...
Putting a Value on Facebook
Facebook is expected to raise as much as $US10 billion, which will value the company at $US75 billion to $US100 billion, making it one of the largest IPOs. A stock usually starts trading three to four months after the filing. The highly anticipated filing will reveal how much Facebook intends to raise from the stock market, what it plans to do with the money and details on its own financial pe ...
US Solar Industry Under Threat
Solar trade barriers threaten over 60,000 US jobs A 100% tariff on imported solar PV cells and modules from China would threaten US solar jobs, said an economic analysis released by a US solar industry group Monday. The imposition of tariffs will "result in as many as 50,000 net lost jobs in the US. over the next 3 yrs", said the study, commissioned by the Coalition for Affordable Sola ...
Austerity Hits Italian Jobs
Italy's unemployment rate hits record high since Y 2004 Italy's unemployment rate reached 8.9% in December 2011, a record-high level since Y 2004, the national statistics agency Istat said Tuesday. According to the Istat, 2.24-M Italians did not have a job at the end of last year. The problem was most severe for youngsters, with 31% of those aged 15 to 24 being jobless. Earlier thi ...
US Steel Corp (NYSE:X) Fails in Serbia
Serbia buys back US Steel Serbia for US$1.00 X The Serbian government on Tuesday repurchased its sprawling steelworks in Smederevo for a symbolic sum of $1.00 from US Steel Corp (NYSE:X) Prime Minister Mirko Cvetkovic and David J. Rintoul, vice president for European operations for US Steel, signed the contract whereby ownership would revert to the Serbian government. ...
South Korea Economic Report
South Korea posts trade deficit in January South Korea's trade balance turned into the red in 24 months in January as exports reduced amid Europe's debt crisis and the global economic slowdown, a government report showed Wednesday. Trade deficit reached US$1.96-B in January, a sharp turnaround from a surplus of US$2.48-B tallied in the same month of last year, and US$3.4-B register ...
Germany Economic Report
German unemployment drops to 20-yr low defying crisis German unemployment reached a new record lows in January, adding to signs that Europe's biggest economy is still keeping distance with the debt crisis shaking much of the EuroZone and will return to growth this Spring, official data showed Tuesday. The German economy ministry reported that the country's seasonally-adjusted jobless ...
Politics Impacts Consumer Confidence
US Consumer confidence fell in January US Consumer confidence unexpectedly fell in January and a gauge of business activity fell, underscoring forecasts that the US economy will cool after expanding at the fastest pace since Q-2 of Y 2010. The New York-based Conference Board's confidence index decreased to 61.1, lower than the most pessimistic forecast in a media survey of economists, fro ...
South America Corn and Soybean
ADM sees South America Corn and Soybean crops smaller than last year's ADM South America's Corn and Soybean crops will be smaller than a year ago due to drought, Archer Daniels Midland Co. (NYSE:ADM) said Tuesday. Grains traders have for weeks been downgrading their expectations for crops in Argentina and Brazil because of hot, dry weather, but many analysts have stil ...
Taiwan Stocks to Rally
Taiwan investors' confidence up as cross-Strait trade tariff cut steps up Taiwanese investors on the Chinese Mainland said their confidence has been further boosted since a cross-Strait economic pact granting greater tariff reduction benefits in Y 2012 for goods from Taiwan will produce a more favorable environment for their businesses. Starting 1 January 2012, the Chinese Mainland i ...