Is the Chinese economy overheated and the dragon country on the verge of collapse? Noted global investor and economic analyst Marc Faber says the Chinese economy might crash within one year. Faber, the publisher of the Gloom, Boom & Doom report, has predicted that the China is going to collapse in the wake of imminent property bubble and declining commodity and stock market prices.
UBS boss Oswald Gruebel signaled his strategy to regain clients' trust may be starting to work as withdrawals slowed and the bank delivered its strongest quarterly profit since the crisis started.
Dubai World's creditors have agreed in principal on the technical aspects of a debt restructuring agreement and should reach on an overall deal within two weeks, an Arabic language newspaper said on Tuesday.
The dollar rose on Tuesday as U.S. data showed factories running at their fastest pace in nearly six years, but stocks gains were reined in by worries about Greece's bailout and China's policy tightening.
NYSE Euronext said on Tuesday its quarterly profit rose 26 percent, matching expectations as its growing derivatives operation offset sluggish stock trading at the exchange operator.
S&P Valuation and Risk Strategies, part of McGraw-Hill Co's Standard & Poor's, has launched a new credit score tool that lets users compare credit profiles of more than 26,000 companies worldwide.
India's recent decision to raise the duty on iron ore lumps will rein in export of the commodity further. The government last week increased the export duty on iron ore lumps to 15% from 10% to discourage exports and improve raw material availability for local steel mills. India's iron ore lump exports was around 11 million tonnes in 2009-10 and declined by 28% in the past four years from a peak of 15.3 million tonnes in 2006-07.
World oil prices followed gold towards south in Asian trade Tuesday after hitting a 19-month high on positive economic news overnight. The black gold dropped below $86 a barrel mark mainly on a strong dollar against major currencies amid rise in US crude and fuel stockpiles. Light sweet crude for June was seen trading at $85.81 a barrel at 11.30 a.m Singapore time while Brent crude was at $88.61 a barrel at the same time in London.
Chiadzwa in Zimbabwe is notorious for its blood diamonds. Now this place has become an big attraction for the police force in the country. Till now, only illegal miners and Army have been blamed for the blood diamonds of Chiadzwa but now the country's police force also wants a piece of the diamond business. According to media reports in Zimbabwe, police want the government to give the police force concession to do mining business in Chiadzwa diamond fields.
Gold prices eased in Asian trade Tuesday after an overnight rally put the precious metal to its highest settlement in five months. Gold for immediate delivery was seen trading at $1181.49 an ounce at 11.30 a.m Singapore time while U.S. June gold futures was at $1182.47 an ounce eat the same time. Analysts said gains in the dollar hampered gold's rally. The greenback remained firm against a basket of six major currencies on Tuesday after rising against the euro and yen on Monday on growth in U.S....
Simon Property Group Inc has bid $5.8 billion for all of General Growth Properties Inc , even as its offer to buy a minority stake in its rival was rejected, sources familiar with the matter said on Monday.
Craigslist.com was subpoenaed on Monday by Connecticut's attorney general, who is investigating whether the popular online classified ad service is doing enough to quash prostitution on its site and whether it may be profiting from it.
Lawyers for Goldman Sachs Group Inc have been served a subpoena to testify or provide information in a closely watched case of illegal insider trading allegations, according to a court document made public on Monday.
The Australian Dollar is trading under USD0.9300 following Sunday's proposed tax changes by Australia's Federal Government, and yesterday's decision out of China, when it instructed banks to increase capital ratios in a bid to slow lending.
Goldman Sachs Group Inc, in a rare move, disclosed information about the many lawsuits and shareholder challenges facing the bank.
Futures trader John Henry, who parlayed a knack for blackjack into an investing system to make billions of dollars, says he is sticking with his trend-following strategy even though it has not worked well lately.
Australian Dollar: The Aussie dollar bounced off support between 0.9220 and 0.9230 on several occasions over the last 24 hours to open this morning relatively unchanged from yesterday's close at 0.9260.
(Corrects fourth paragraph to show that the subpoena was revealed in a court document made public on Monday. The subpoena was not received on Monday.)
Lawyers for Goldman Sachs Group Inc have been served a subpoena to testify or provide information in a closely watched case of illegal insider trading allegations, according to a court document made public on Monday.
GMAC Financial Services, a lender majority-owned by the U.S. government, posted its first profit since the fourth quarter of 2008 as it starts to recover from billions of dollars lost on bad mortgages.
Manufacturing registered its fastest pace of growth in nearly six years in April while data on construction and consumer spending pointed to further strength in the economy.
United Airlines parent UAL Corp will buy Continental Airlines Inc for $3.17 billion in an all-stock deal that will form the world's largest carrier and potentially prune excess capacity in the airline industry.
Markets reacted skeptically on Monday to a record 110 billion euro ($145 billion) bailout for Greece, with investors doubting it would offer more than temporary relief to a euro zone shaken by divisions and saddled with high debt.
U.S. stocks rose broadly on Monday as data showed the economy's recovery remained on track, and details of a European financial rescue package for Greece provided a measure of relief.
Many firms in Boston's financial district invest in things you can't touch: currency futures, index options, credit derivatives and so on.
Markets reacted skeptically on Monday to a record 110 billion euro bailout for Greece, with investors doubting it would offer more than temporary relief to a euro zone shaken by divisions and saddled with high debt.
U.S. stocks rose on Monday as data indicated the economy was on firmer footing, and details of a European financial rescue package for Greece provided a measure of relief.
Theme park operator Six Flags Inc emerged from Chapter 11 bankruptcy on Monday after wiping out more than a billion dollars in debt by turning the company's ownership over to bondholders.
India's coffee exports surged by 37% in the seven months ended in February due to the strong demand from the major importing countries, said Coffee Board of India. Overseas sales in the January-April period were 102,258 tons, compared with 71,502 tons, Nagarajaiah said. Shipments included 18,871 tons of re-exports, up from 5,338 tons in the year-earlier period, he said. Italy and Russia were among the buyers of Indian coffee.
Global cocoa prices remained higher this year and is likely to scale new heights, analysts said. Benchmark cocoa closed Friday in London at its highest for 32 years. July lot, closed up £23 at £2,359 a tonne, its highest since 1977. The spot May contract added £23 to £2,328 a tonne, £12 from a similar achievement. According to Fortis Bank Nederland, the cocoa market faces a serious structural deficit in production, which will take prices to a series of record highs, unless farmers expand plantati...
