IBT Staff Reporter

94381-94410 (out of 154948)

Australian Dollar Outlook 07/6/2010

The Australian Dollar was sold off two US Cents towards 0.8200 overnight and has subsequently traded below 0.8200 following reports out of Europe regarding Europe's debt crisis, which may have spread to Hungary.

Yahoo users to gain more access to Facebook

Yahoo Inc is planning to introduce features that will give its users even more access to updates from the popular social networking site Facebook, expanding a partnership the web companies struck last year.

Slowdown looming but no double dip

The global economy looks likely to avoid a relapse into recession, although the next six months may be anemic, with three main causes for concern.

For stocks, angst over Europe, jobs

U.S. stocks could face more pressure this week unless investors get some relief from worries about Europe, jobs and the toll they might take on the economic recovery.

Gold ETF holdings rise to 63.75 million ounces

Gold seems most likely to trade in a wide band this week, possibly as wide as $1,180 and $1,250. Gold's appeal as a safe haven and hedge against volatile economic conditions continues to be evident.

Spain's labor reform could sideline unions: report

Spain may make it easier for companies to bypass unions to lower workers' pay and conditions if they can prove they are in financial difficulty, El Mundo newspaper reported on Sunday, citing government sources.

Pru denies report of renewed bid for AIG unit

UK insurer Prudential is not considering a renewed attempt to buy AIG's Asian life unit, a spokesman for the company said on Sunday, denying a media report that a fresh takeover proposal was in the works.

Eurogroup's Juncker not worried by Hungary and euro

The chairman of the Eurogroup of euro zone finance ministers, Jean-Claude Juncker, dismissed concerns on Sunday that Hungary might face a Greek-style debt crisis and said the current level of the euro did not worry him.

Bangladesh lifts Facebook ban

Bangladesh has lifted a ban on social networking site Facebook after it removed objectionable content about the Prophet Mohammad and the country's political leaders, the telecoms regulatory agency said on Sunday. Facebook was blocked last week after publication of caricatures of the Prophet that hurt the religious sentiments of the country's majority Muslim population.

UK's Pru denies report of renewed bid for AIG unit

UK insurer Prudential is not considering a renewed attempt to buy AIG's Asian life unit, a spokesman for the company said on Sunday, denying a media report that a fresh takeover proposal was in the works.

Google to provide data to European authorities

Google Inc said on Saturday it would hand over data it collected through wireless networks to French, German and Spanish authorities as it faces mounting legal issues concerning its data collection.

Hungary government commits to budget goal

Hungary's government said on Saturday it aimed to meet this year's budget deficit target, seeking to draw a line under exaggerated talk of a possible Greek-style debt crisis that has unnerved global markets.

NCDEX sets firm on steel Futures contracts

India-based leading commodity bourse, National Commodities and Derivatives Exchange (NCDEX) has achieved yet another milestone of having one of the most successful steel contract in the world. The exchange today maintained that the average daily traded volumes are in the range of 20, 000 MT vis-à-vis the last 4 years corresponding figure of 9,000 MT.

Oil stocks balloon: Decontrol is in the air

In a landmark development in India's oil & gas sector history, the empowered group of ministers is believed to deregulate fuel prices in the second week of June, 2010. In India retail fuel prices had been administered by the central government so as to keep the end consumers safe from the uncertainties of the global crude oil price fluctuations.

Nymex gold ends near $1218

New York gold climbed overnight after equity markets dropped though the euro also tumbled to a four year low. Gold for August delivery added $7.70, or 0.6%, to $1,217.70 an ounce on the Comex division of the New York Mercantile Exchange. The comeback assured gold a 0.3% gain on the shortened holiday week and stopped a downward trend that had started Wednesday.

Gold, Platinum grab the show on TOCOM in May

Gold, platinum and other bullion metals grabbed the center-stage on the Tokyo Commodity Exchange Inc (TOCOM) during the month of May 2010 with staggering volume growth in the bullion commodities. Gold witnessed average daily volume of 66,354 contracts in May 2010 up by 33.9% from 49,545 contracts recorded in April 2010. Platinum contracts increased by 28.1% to 28,981 contracts during the month. The monthly trading volumes in gold and platinum remained at the top with gold monthly volumes at 1194...

Hungary government aims to meet 2010 deficit goal

Hungary's government said on Saturday it aimed to meet this year's budget deficit target, seeking to draw a line under exaggerated talk of a possible Greek-style debt crisis that unnerved global markets a day earlier.

Germany, Russia agree stable euro key for growth

Berlin and Moscow agree that a stable euro is key for global financial stability and sustainable economic growth, German Chancellor Angela Merkel and Russian President Dmitry Medvedev said on Saturday.

ECB's Trichet says bank stress tests nearly complete

Europe is close to completing stress tests on its banks to gauge their ability to withstand a market slump and the results should be published to help restore market confidence, top European Central Bank officials said on Saturday.

Euro zone faces zero growth: Roubini

The euro zone is facing a period of zero growth if not recession, and the United States is heading for financial trouble, U.S. economist Nouriel Roubini was quoted as saying on Saturday.

G20 scraps plans for universal bank tax

The world's top economies scrapped plans for a universal global bank tax on Saturday, giving countries plenty of wiggle room over how to make banks pay for their bailouts in future.

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