Oil stays below $77 in Asia as stocks slip
Global oil prices remained under $77 in highly volatile Asian trade as equity markets fell across the region while concerns over potential storms on the east coast of US helped the black gold. Light sweet crude for August delivery was seen trading at $ 76.71 a barrel at 11.30 a.m Singapore time while ICE Brent for September, the front-month contract after August expired on Thursday, gained 1 cent to $76.10 on the Comex.
Central Banks: Gold's God
It seems the fate of gold is depended on central banks across the world. Till now, economic crisis looming over the global economy has been the biggest boost for gold prices as more and more people rushed to buy gold as a safe haven option.
Gold keeps gains on weak dollar
Gold prices gained in Asian trade Friday mainly on a weak dollar while fragile US and China economic growth data boosted its appeal as an alternative asset. Gold for immediate delivery was seen trading at $ 1208.87 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery were at $1,209.30 per ounce.
Mixed effect over Vietnam gold import resumption
Vietnam's decision to allow gold imports evoked mixed response among gold traders and consumers. Vietnam Gold Business Association said the decision helped boost gold trade and helped prices to ease in comparison with global prices.
Citigroup says it classified certain repos as sales
Citigroup Inc said in a letter to the U.S. securities regulator it had unintentionally classified as much as $9.2 billion of repurchase agreements as sales at one point, when they should have been shown as borrowings.
AgBank closes mega IPO with tepid HK debut
Agricultural Bank of China's $19.3 billion IPO limped across the finish line on Friday after a hectic three-month sprint, its modest Hong Kong debut gains reflecting valuations concerns and tough markets.
Europe woes and iPhone surge to hit handset vendors
Top global cellphone makers are set to report a disappointing quarter, hit by euro zone debt problems and the roaring success of smartphone heavyweight Apple, and new launches may determine how they fare in the year's second half.
Dollar weakens on U.S. data
The dollar hovered near a 2- month low and the Nikkei slumped amid weak Asian stock markets as the outlook for the U.S. economic recovery worsened.
U.S. advisers reject Vivus' fat pill
The first new prescription weight-loss pill in more than a decade failed to win backing from U.S. health advisers, who said safety concerns about the drug outweighed its ability to help obese patients shed pounds.
Goldman settles with SEC for $550 million
Goldman Sachs Group Inc agreed to pay $550 million to settle civil fraud charges over how it marketed a subprime mortgage product, ending months of negotiations that rattled the bank's clients and investors.
AMD beats Street view
Chipmaker Advanced Micro Devices Inc posted better-than-expected results and estimated revenue growth of up to 10 percent in the current quarter on stronger demand for its new notebook chip set.
Daily Forex Commentary 16/7/2010
Hot on the heels of the FOMC downgrade of U.S GDP softer than expected Chinese data triggered a selloff of higher yielding Currencies in Asia as concerns over the potential slowdown in global growth resurfaced.
Australian Dollar Outlook 16/7/2010
The AUD has opened slightly stronger this morning as ongoing concerns about the recovery in the US economy weakened the USD.
BP shares rise after crude leak stopped
U.S.-listed shares of BP Plc jumped 7.6 percent on Thursday after a company executive said no oil was leaking from its blown-out well into the Gulf of Mexico for the first time since late April.
Instant view: Goldman to pay $550 million to settle SEC charges
Goldman Sachs Group Inc on Thursday agreed to pay $550 million to settle civil charges that it misled investors in a subprime mortgage product, the U.S. Securities and Exchange Commission announced on Thursday.
FDA rejects Vivus' fat pill sending shares down
The first new prescription weight-loss pill in more than a decade failed to win backing from U.S. health advisers, who said safety concerns about the drug outweighed its ability to help obese patients shed pounds.
Goldman to settle with SEC for $550 million
Goldman Sachs Group Inc agreed to pay $550 million to settle civil fraud charges over how it marketed a subprime mortgage product, ending months of negotiations that rattled the bank's clients and investors.
British Columbia launches its own online casino
British Columbia launched North America's first government-run online casino on Thursday, aiming to take a cut of the big dollars its residents are already gambling over the web.
AMD beats Street expectations, shares leap
Advanced Micro Devices Inc posted better-than-expected second-quarter results as corporate spending on tech hardware strengthened, sending its shares up 6.6 percent after hours.
FDA rejects Vivus fat-fighting pill Qnexa
Hopes sank that the first new prescription weight-loss pill in more than a decade would be approved for sale when a key federal advisory panel rejected the drug on Thursday amid lingering safety concerns.
U.S. advisers reject Vivus fat-fighting pill
U.S. health advisers narrowly rejected Vivus Inc's experimental weight-loss pill, saying there was not enough data to merit approval.
KKR shares slip 3 percent in long-awaited debut
The long-anticipated U.S. stock debut of Kohlberg Kravis Roberts & Co proved a disappointment on Thursday as investors shied away from the private equity firm that made its name with the leveraged buyout of RJR Nabisco in 1988.
Discovery says infringement case v Amazon not new
A patent infringement lawsuit filed on Wednesday against Amazon.com was a procedural move and not a new lawsuit, according to Discovery Communications Inc, which filed the complaint.
U.S. judge dismisses suit filed by GE shareholders
A U.S. judge dismissed a lawsuit against General Electric Co on Thursday that accused the largest U.S. conglomerate of failing to warn investors of the 2008 profit drop that marked the beginning of a two-year downturn for the company.
Wall Street reform clears Congress
The Congress on Thursday approved the broadest overhaul of financial rules since the Great Depression and sent it to President Barack Obama to sign into law.
Google profit misses Wall Street view
Google Inc missed Wall Street's profit estimates in its second quarter after a spike in expenses offset a 24 percent revenue jump, a rare stumble for a company accustomed to shattering financial expectations.
Goldman will pay $550 million to settle SEC charges
Goldman Sachs Group Inc agreed to pay $550 million to regulators to settle civil fraud charges over how it marketed a subprime mortgage product, ending a weeks long probe that rattled clients and weighed on its share price.
Wall Street recoups losses on BP and Goldman
Stocks ended little changed on Thursday, recouping losses late in the day, led by a sudden turnaround in Goldman Sachs and BP.
Goldman to pay record $550 million to settle SEC charges
Goldman Sachs has agreed to pay a record $550 million to settle fraud charges brought by the Securities and Exchange Commission, the financial regulator said on Thursday. In its charges against Goldman, the SEC said the investment bank had misled investors in a subprime mortgage product.
Jobless claims fall, manufacturing stumbles
New U.S. claims for jobless benefits tumbled to a near two-year low last week, but a modest gain in industrial output and a third monthly drop in wholesale prices in June confirmed a slackening in the economy's recovery.
