A Chinese state company has tapped Sun Hung Kai Properties Ltd and Guoco Group Ltd as potential investors for a fund that aims to raise up to 20 billion yuan ($3.1 billion) to develop Shanghai's Bund district, a source said on Thursday.
The Gold Price rose further in London trade Thursday morning, hitting new 2011 highs for Dollar investors as Brent crude oil jumped to $119 per barrel and a raft of economic analysis warned of stagflation ahead for the global economy.
A Chinese government study has found the European Union offered large subsidies to telecom firms in what Beijing might deem a violation of World Trade Organization rules, the Wall Street Journal reported on Thursday, citing a person familiar with the matter.
Orders for durable-goods items rose 2.7 percent in January, the first such increase since September, reported the Commerce Department said. However, the higher demand was largely due to the aircraft sector.
Credit Suisse said the 6.3 magnitude earthquake that hit Christchurch, New Zealand on Monday appears to have caused more physical damage than the larger (7.1 magnitude) quake that hit the South Island city on September 4.
Sen. Harry Reid D-NV called on state legislators to ban prostitution in Nevada on Wednesday.
The companies whose shares are moving in pre-market trade on Thursday are: Priceline.Com, Integrys Energy, ConocoPhillips, Chesapeake Energy, Chevron Corp, E TRADE Financial, Red Hat, Suntrust Banks, Monster Worldwide and eBay.
Gold steadied near seven-week highs on Thursday, as investor fears over inflation stemming from the spike in crude oil were partially offset by pockets of profit-taking after the market's 6 percent rise this month.
Western investment banks are keen to underwrite more IPOs on China's Shenzhen exchange this year as a surging economy turns the once insignificant market into a fundraising hotbed.
The top after-market NYSE gainers on Wednesday are: Polypore International, Jarden, iStar Financial, Calgon Carbon and K-V Pharmaceutical. The top after-market NYSE losers are: American Equity Investment, St. Joe, Magna International, Tenet Healthcare and Whiting Petroleum.
Hong Kong stocks are expected to open lower on Thursday, pressured by a surge in oil prices on fears turmoil in Libya could spread to other oil exporters in the region, and declines in global markets.
A Wikileaks document also reported that the Libyan government had received (and rejected ) investment offers from Bernard Madoff and Allen Stanford, two men were involved in huge Ponzi schemes.
Wall Street's financial giants continue to pose major risks to the U.S. economy, and must be broken up to avoid another meltdown, Kansas City Federal Reserve Bank President Thomas Hoenig said on Wednesday.
King Abdullah of Saudi Arabia - jointly the world's biggest oil producer alongside Russia, and so far immune to the civil unrest sweeping North Africa and the Middle East - returned from hospital treatment abroad to announce a near US$38 billion package of new housing projects, a 15% pay-rise across the board, and the kingdom's first-ever unemployment insurance.
Throughout the ages, many things have been used as currency: livestock, grains, spices, shells, beads, and now paper. But only two things have ever been money: gold and silver. When paper money becomes too abundant, and thus loses its value, man always turns back to precious metals. During these times there is always an enormous wealth transfer, and it is within your power to transfer that wealth away from you or toward you. --Michael Maloney, precious metals investment expert
At least 100,000 trade unionists marched through the Indian capital on Wednesday in a protest against high food prices and unemployment, piling pressure on an administration under fire over corruption scandals.
Nigeria's parliament has begun a detailed debate of the latest version of long-delayed reforms to Africa's biggest energy industry, just two months ahead of elections, the head of the state oil company said on Wednesday.
Mutual fund giant Fidelity is actively preparing to enter China by securing a trust company licence in one of the world's fastest-growing asset management market, a person familiar with the situation said on Wednesday.
US stocks were mixed in early trade on Wednesday after plunging in the previous session amid political unrest in the Middle East.
The Persian Gulf kingdom of Qatar has expressed some interest in investing in two major partially-nationalized British banks, Royal Bank of Scotland (NYSE: RBS) and Lloyds Banking Group (NYSE: LYG).
Spot gold was bid at $1,401.50 an ounce at 0933 GMT, against $1,399.20 late in New York on Tuesday. U.S. gold futures for April delivery eased 30 cents an ounce to $1,400.80.
South African resource-heavy stocks slipped on Tuesday as Libyan unrest prompted an equities sell-off while the rand firmed against the dollar, recovering from earlier losses as better-than-expected GDP data boosted the currency.
