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Mining News: Rio capex rises on growing demand

2010-11-29T03:05:00.000-08:00

Mining: Rio capex rises on growing demand

MINER Rio Tinto expects capex to rebound to $11.4bn in 2011 as the iron ore business captures growing demand from Asia.

Read more from AdelaideNow

The Future on ice: Delaying the arena's demolition hurts Pittsburgh

2010-11-29T03:03:00.001-08:00

The Future on ice: Delaying the arena's demolition hurts Pittsburgh

It will only drag things out. That will be the result of a nomination, submitted Tuesday by a Hill District resident, of the Civic Arena for historic status.

Read more from Pittsburgh Post-Gazette

Metals & Mining in Taiwan: New research report available at Fast Market Research

2010-11-29T03:01:00.000-08:00

Metals & Mining in Taiwan: New research report available at Fast Market Research

It includes data on market size and segmentation, plus textual and graphical analysis of the key trends and competitive landscape, leading companies and demographic information...

Read more from PR-inside.com

The Botswana Diamonds to List on AIM in January

2010-11-29T02:59:00.000-08:00

The Botswana Diamonds to List on AIM in January

Botswana Diamonds expects to list on Londona s Alternative Investment Market in January 2011, company chairman John Teeling said.

Read more from Diamonds.net

Mining News: Rev Billy Arrested At UBS Bank, Major Mountain Top Removal Financier

2010-11-29T02:58:00.000-08:00

Rev Billy Arrested At UBS Bank, Major Mountain Top Removal Financier

Reverend Billy Talen of The Church of Life After Shopping was arrested in New York City late in the afternoon Friday.

Read more from NewsBlaze

Mining News: Mongolia's motherlode

2010-11-29T02:51:00.000-08:00

Mongolia's motherlode

Oyu Tolgoi or "Turquoise Hill," named for the colour of the copper in the rock. Photograph by: Peter Koven/ National Post, Peter Koven/ National Post This is the big one...

Read more from Canada.com

Oil slick awaits New Orleans' 1st white mayor in decades

2010-05-03T03:00:00.000-07:00

CNN - David Mattingly, Brian Todd

By the CNN Wire Staff (CNN) -- The first white mayor of New Orleans in more than 30 years steps into his first challenge as soon as he takes office Monday: the massive oil slick that is creeping to his coast.
Read full story from CNN

United, Continental boards OK merger: sources

2010-05-03T02:56:00.000-07:00

Washington Post - Kyle Peterson, Jui Chakravorty
CHICAGO/NEW YORK (Reuters) - UAL Corp, parent of United Airlines, will buy Continental Airlines Inc for $3.2 billion, forming the world's largest carrier in a merger that further shrinks the embattled US airline ...

Read full story from Washington Post

Audi To Launch New A1 Model In August; Reiterates 2010 Targets

2010-05-03T02:51:00.000-07:00

Wall Street Journal - Christoph Rauwald - ‎1 hour ago‎

FRANKFURT (Dow Jones)--German luxury car maker Audi AG (NSU.XE) said Monday it will launch its new small A1 model at the end of August, reiterated its target of selling more than one million vehicles in 2010 ...
Read full story from WallStreet

Oil stocks slide as Gulf spill grows

2010-04-30T10:38:00.000-07:00

Reuters - Anna Driver, Gerald E. McCormick - ‎2 hours ago‎
HOUSTON (Reuters) - Shares of companies that provided services or operated the sunken Deepwater Horizon drilling rig, including Halliburton Co (HAL.

Read full story from Reuters

Consumers Help Drive US Economy to 3.2% Growth Rate

2010-04-30T10:37:00.000-07:00

New York Times - Catherine Rampell
For the third quarter in a row, the United States economy showed strong economic growth in the first quarter, and increased consumer spending played a significant role, the Commerce Department reported Friday.

Read full story from New York Times

US STOCKS-Goldman probe, GDP data weigh on Wall Street

2010-04-30T10:33:00.000-07:00

NEW YORK, April 30 (Reuters) - US stocks fell on Friday as shares of Goldman Sachs tumbled on reports of a federal probe into the Wall Street powerhouse and after first-quarter gross domestic product came in weaker than expected

Read full story from Reuters/a>

Goldman Had 9 Months' Warning From SEC--Report

2010-04-18T02:48:00.000-07:00

Wall Street Journal - Alistair Barr - ‎10 hours ago‎
Goldman Sachs Group Inc. (GS) was warned nine months ago that Securities and Exchange Commission staff wanted to bring a civil case against it, but the investment bank didn't specifically disclose this to investors in regulatory ...

Read full story from Wall Street Journal

Investors to Spirit Airlines: Drop the Fees!

2010-04-18T02:45:00.000-07:00

TheStreet.com - Andrea Tse
NEW YORK (TheStreet) -- In its move to charge customers for their carry-on luggage, budget airline Spirit Airlines isn't generating much goodwill among invesors -- at least, that is, according to a recent poll by ...

Read full story from TheStreet.com

California's jobless rate hits high of 12.6% in March

2010-04-18T02:42:00.000-07:00

Los Angeles Times - ‎Apr 16, 2010‎
The state adds 4200 jobs, but more people were seeking work than in February. LA County's rate holds at 12.4%; Orange County's rises to 10.1%.

Read full story from Los Angeles Times

Bank of America earns $3.2 billion in first quarter

2010-04-18T02:40:00.000-07:00

Los Angeles Times - Nathaniel Popper - ‎Apr 16, 2010‎
The strong profit for the nation's largest bank comes primarily from its investment bank and trading desks, large parts of which BofA acquired when it bought Merrill Lynch.

Read full story from Los Angeles Times

Investor Who Made Billions Is Not Target of SEC

2010-04-18T02:38:00.000-07:00

New York Times (blog) - ‎5 hours ago‎
Three and half years ago, a New York hedge fund manager with a bearish view on the housing market was pounding the pavement on Wall Street, The New York Times's Gretchen Morgenson and Louise Story report.

Read full story from New York Times

Google shares fall despite strong earnings

2010-04-18T02:35:00.000-07:00

MarketWatch - John Letzing - ‎Apr 16, 2010‎
SAN FRANCISCO (MarketWatch) -- Google Inc. shares fell Friday on fears of increased spending after the Internet search giant reported strong growth in earnings for the first quarter.

Read full story from MarketWatch

Ford and Microsoft team to boost electric-car hopes

2010-03-31T09:29:00.000-07:00

MarketWatch - Shawn Langlois
SAN FRANCISCO (MarketWatch) -- Ford Motor Co. and Microsoft Corp. announced Wednesday that they are teaming again; this time in an effort to make widespread adoption of the electric car a reality.

Read full story from MarketWatch

US factory orders had rise in Feb, buoy manufacturing

2010-03-31T09:26:00.000-07:00

Reuters - Lucia Mutikani, Chizu Nomiyama
WASHINGTON, March 31 (Reuters) - New orders received by US factories rose for a sixth straight month in February as businesses rebuilt inventories, data showed on Wednesday, pointing to continued expansion in the manufacturing sector.

Read full story from Reuters

(Germany, France boost chance of global bank levy deal)

2010-03-31T09:23:00.000-07:00

Reuters - Sarah Marsh, Paul Carrel
BERLIN, March 31 (Reuters) - Germany and France said on Wednesday bank levies should be imposed internationally to ensure a level playing field and called for national bank restructuring rules to be embedded in a European framework.

Read full story from Reuters

(Crude Oil Rises to 11 Week High as Dollar Slips Against Euro)

2010-03-31T09:12:00.000-07:00

BusinessWeek - Mark Shenk‎
March 31 (Bloomberg) -- Crude oil surged to an 11-week high in New York as the dollar declined against the euro, bolstering investor demand for commodities.

Read full story from BusinessWeek

(Stocks slip economic data)

2010-03-31T09:09:00.000-07:00

CNNMoney - Julianne Pepitone
NEW YORK (CNNMoney.com) -- Stocks took a step backward Wednesday, the final day of a first quarter bolstered by a strong showing in March, after a disappointing jobs report and downbeat ...

Read full story from CNNMoney

(US dollar share of Q4 global FX reserves rises -IMF)

2010-03-31T09:06:00.000-07:00

Reuters - Gertrude Chavez-Dreyfuss, Leslie Adler
NEW YORK, March 31 (Reuters) - The US dollar's share of global currency reserves rose to 62.1 percent in the fourth quarter of 2009 as total holdings climbed to a record of more than $8 trillion, International Monetary Fund ...

Read full story from Reuters

Obama announced the first leases in two decades for offshore oil drilling

2010-03-31T09:04:00.000-07:00

USA Today
President Obama announced the first leases in two decades for offshore oil drilling today with an appeal to both environmental supporters and Republican critics, saying increased oil production is part of an overall approach to the nation's energy and ...

Read full story from USA Today/a>

Greek Aid Agreement Takes Heat Off Euro

2010-03-27T22:55:00.000-07:00

Wall Street Journal - Fabio Alves - ‎Mar 26, 2010‎

The euro gained as the euro zone's emergency financial-aid package for Greece eased immediate concerns about over the country's fiscal problems.

Read full story from Wall Street Journal

(Crane Falls Against Financial District Building)

2010-03-27T22:51:00.000-07:00

New York Times - Sarah Wheaton, Ravi Somaiya - ‎2 hours ago‎

A crane fell against a building at 80 Maiden Lane in Lower Manhattan on Saturday evening. By SARAH WHEATON and RAVI SOMAIYA A crane tipped and fell against a commercial building in Lower Manhattan on Saturday evening.

Read full story from New York Times

(Automakers Geely, Ford may pen Volvo deal Sunday)

2010-03-27T22:47:00.000-07:00

BusinessWeek - Elaine Kurtenbach, Louise Nordstrom - ‎42 minutes ago‎

Zhejiang Geely Holding Group appeared set to sign a binding deal Sunday to buy Sweden's Volvo Cars from Ford Motor Co., in a coup for the ambitious Chinese automaker, and also a challenge.

Read full story from BusinessWeek

(Google .Inc Unveils Glimpse at Future)

2010-03-27T22:44:00.000-07:00

Pittsburgh Post Gazette - Erich Schwartzel - ‎31 minutes ago‎
Bryan Tait and his mother Kathy Tait, both of Ingram, take their places Friday in the spelling of "Google" along Forbes Avenue between Ross and Grant Streets.

Read full story from Pittsburgh Post Gazette

Ahmed bin Zayed al Nahyan of Abu Dhabi missing

2010-03-27T22:39:00.000-07:00

Los Angeles Times - Borzou Daragahi - ‎2 hours ago‎
A glider carrying powerful finance official Ahmed bin Zayed al Nahyan, whom Forbes named the 27th-most powerful person in the world, crashed into a Morocco lake.

Read full story from Los Angeles Times

Google stops censoring its search results in China

2010-03-22T19:00:00.000-07:00

By John Letzing, MarketWatch

SAN FRANCISCO (MarketWatch) -- Google Inc.'s decision to brazenly challenge Internet censorship laws in China may encourage other firms doing business in the Middle Kingdom to adopt a bolder tone, industry experts say.

However, they say potential benefits of the rapidly-developing Chinese market mean that any emerging chorus of dissent against local laws -- or perceived local favoritism at the expense of foreign players -- could be slow to materialize.

Google (GOOG 557.50, -2.50, -0.45%) said Monday that it's decided to re-direct traffic away from its google.cn search engine to Hong Kong-based google.com.hk, where Chinese speakers may access unfiltered search results. See related story on Google in China.

PM Report: Google Stops Censoring in China

Google stops censoring its search results in China and is redirecting visitors to its Chinese-language service based in Hong Kong. Plus, the landmark health-care bill is slated for Obama's signature as focus moves to the Senate; and after decades of cynicism, medical experts are using high-tech tools to unravel acupuncture.

It remains to be seen how long Internet users in mainland China will retain access to google.com.hk. The site's servers are based in Hong Kong, a special administrative region of China.

Google had been negotiating with Chinese authorities for weeks over the possibility of offering uncensored search results, since announcing in January that it had been hit with a sophisticated cyber-attack originating in China. Such a move would run afoul of Chinese laws, which mandate filtering out results related to politically-sensitive topics.

Since launching google.cn in 2006, Google has voluntarily offered a filtered search service. The company has captured a significant share of the Chinese search market, though it still lags well behind Beijing-based Baidu Inc. (BIDU 579.72, +10.07, +1.77%)

Google's move to stop censoring results drew a quick response on Monday, with state-run Chinese media citing an unnamed official at the State Council Information Office who called it "totally wrong."

Meanwhile a spokesman for the White House's National Security Council reportedly called the impasse between Google and the Chinese government disappointing.

"The U.S.-China relationship is mature enough to sustain differences," spokesman Mike Hammer reportedly said. U.S. Secretary of State Hillary Clinton has previously described China's Internet censorship policies as self-defeating.

"It's an amazing game of chess right now," said Jonathan Zittrain, a Harvard Law School professor and co-founder of Harvard's Berkman Center for Internet & Society.

Zittrain said the sheer boldness of Google's self-described "new approach to China" means that other foreign firms doing business there may be slow to follow. "There's no script for this," he said.

'Fight it out'

Google's move comes against a backdrop of increasing antagonism between U.S. and Chinese officials, Zittrain said. Companies may therefore simply wait for a clearer indication of how issues between governments will be resolved.

"They're all hunkered down right now, waiting for their parents to fight it out," Zittrain said of foreign firms operating in China.

Points of tension between the U.S. and China have included Internet censorship, onerous legal requirements for firms operating in China, and Beijing's valuation of the yuan.

In an open letter addressed to Treasury Secretary Timothy Geithner and Commerce Secretary Gary Locke published last week, a group of 130 U.S. lawmakers urged the administration to label China a currency manipulator. See related story on U.S. lawmakers' Chinese yuan letter.

US Stocks End Higher; Citigroup Jumps Nearly 4%

2010-03-22T18:56:00.000-07:00

US Stocks End Higher; Citigroup Jumps Nearly 4%

Stocks ended higher Monday, led by health care, as passage of the health-care bill lifted uncertainty surrounding the legislation that was hanging over the market.

The Dow gained 43.91, or 0.4%, to close at 10,785.89 - the latest in a string of 1 1/2-year highs - though volume was light once again. The S&P 500 added 0.5% and the Nasdaq jumped 0.9%.

The U.S. House of Representatives narrowly approved the health-care bill, which expands coverage to nearly all Americans and delivers a landmark victory to President Obama.

Health-care stocks had been beaten down in the months leading up to the bill's passage. Now, with the uncertainty about the legislation lifted, market pros are saying they think health care will outperform the broader market. The sector finished mostly higher.

Boeing advanced after Oppenheimer raised its rating on the stock to "outperform" from "underperform" and Barclays raised its price target on the stock to $87 from $65 with an "overweight" rating. This came after the aerospace giant announced it was ramping up production of some jets to meet demand last week.

Citigroup was on fire today, up 3.6%, after Rochdale analyst Dick Bove upgraded his rating on the stock to "buy" from "neutral," saying the company has enough liquidity to offload problem assets and support long-term growth.

Ford shares jumped another 5%. The stock hit a five-year high last week after Moody's upgraded its debt rating on the automaker and said it had the potential to improve its finances even more.

Google shares fell about 0.5% after the Internet titan redirected its China search site to its Hong Kong site amid a flap with China over censorship.

Monday brought the latest quarterly results coming from household products seller Williams-Sonoma and high-end retailer Tiffany .

Williams-Sonoma shares jumped over 12% after the retailer beat profit expectations as it kept a lid on costs and enjoyed robust holiday sales.

Tiffany shares edged 0.3% after the high-end jeweler missed its fourth-quarter earnings target but projected its full-year profit would beat expectations.

Oil rises above $81 after stocks gain, dollar dips

2010-03-22T18:55:00.001-07:00

(Reuters) - Oil rose for the first time three days, climbing above $81 a barrel on Monday as a new U.S. healthcare reform bill boosted Wall Street and the dollar weakened slightly against foreign currencies.

President Barack Obama's landmark healthcare overhaul brought relief to investors and sent shares in the healthcare sector higher after a year of volatile trading on concerns over the burdens from reform.

The dollar weakened slightly against a basket of foreign currencies .DXY, after it had strengthened against the euro earlier Monday, on uncertainty about aid for debt-stricken Greece. A weaker dollar can indicate investors are moving money into assets deemed to carry more risk, such as commodities and equities.

U.S. crude for April delivery, which expired on Monday, rose 57 cents to settle at $81.25 a barrel, after falling to as little as $78.57 earlier in the day. Brent crude for May delivery rose 66 cents a barrel to settle at $80.54 a barrel.

"The (oil) market is following gains in the S&P (stock) index," said Tim Evans, energy analyst at Citi Futures Perspective in New York. "Oil fundamentals really have not improved, so it's all about where the money flows are going right now."

The S&P index was up 0.7 percent in afternoon trading.

Oil prices fell in two consecutive weeks through Friday, falling further from a 2010 high of $83.95 a barrel reached in January.

While crude inventories have been falling in industrialized countries and global demand is expected to rise, supply remains ample. A preliminary Reuters poll on Monday showed that analysts expect U.S. crude oil stocks probably rose 1.3 million barrels last week after crude imports increased. Official supply and demand figures will be released Wednesday by the U.S. Energy Information Administration.

Americans drove less in January, covering 1.6 percent less vehicle miles than in the same month of 2009, according to figures released on Monday by the Department of Transportation. The fall in miles driven was the first monthly decline in a year.

A Greek fiscal crisis has helped make investors more cautious of risky assets in recent weeks, boosting the dollar against the euro. European leaders sent out conflicting signals at the weekend over aid to Greece, with Germany urging Athens to solve its debt problems alone and Italy backing EU support. EU leaders will meet on March 25-26.

The latest indication of China's growing oil demand is supportive of oil prices. Implied oil demand in the world's second-biggest energy user rose 19.4 percent in February over a year earlier, as quick economic growth boosted fuel use by industries and motorists.

Domestic commercial crude oil inventories in China rose 5.2 percent in February over January to 28.2 million tonnes, China OGP reported on Monday.

(Additional reporting by Joshua Schneyer, Gene Ramos and Robert Gibbons in New York, Alex Lawler in London, Seng Li Peng in Singapore; Editing by Lisa Shumaker/Reuters)

(Chinese c.bank sets yuan mid-point at 6.8263)

2010-03-22T18:51:00.000-07:00

SHANGHAI, March 23 (Reuters) - The central bank set the

mid-point of the yuan's CNY=CFXS CNY=SAEC exchange rate

against the dollar on Tuesday as follows.

Mid-point Previous day's mid-point Previous day's close

6.8263 6.8264 6.8266

SOURCE: The People's Bank of China, the central bank, issues

the data through the interbank market, the China Foreign Exchange

Trade System (www.chinamoney.com.cn).

The yuan may rise or fall 0.5 percent from its mid-point each

day, but it has moved only a small fraction of its band in most

trading sessions since it was revalued by 2.1 percent to 8.11 per

dollar on July 21, 2005.

In the three years following the revaluation, the central

bank allowed the yuan to appreciate a further 19 percent against

the dollar. The yuan's traded peak since the revaluation was

6.8099, reached on Sept. 23, 2008.

Since July 2008, however, the central bank has used the

mid-point to keep the yuan at a virtual peg to the dollar within

a narrow 100-pip range, to protect China's economy as it

confronted a slowdown due to the global financial crisis.

(Reporting by Lu Jianxin and Edmund Klamann)

Toshiba says to build new NAND memory factory

2010-03-22T18:48:00.000-07:00

TOKYO, March 23 (Reuters) - Toshiba Corp (6502.T) said on Tuesday it has decided to build a new NAND flash memory factory in Mie, central Japan, with construction to begin in July.

CYCLICAL CONSUMER GOODS

In a statement, the firm said it has decided to go ahead with a plan which had been under consideration for months, given growing demand for memory chips thanks to new applications like smartphones.

It also said it has not decided on the scale of investment and output capacity. (Reporting by Taiga Uranaka/Reuters)

Taiwan stocks rebound; Mediatek leads gains

2010-03-22T18:45:00.000-07:00

TAIPEI, March 23 (Reuters) - Taiwan stocks rose 0.56 percent
on Tuesday, led by gains in technology shares including chip
designer Mediatek (2454.TW) as renewed gains on Wall Street
raised optimism over growing tech demand.
The main TAIEX share index opened up 44.14 points at
7,880.12, recouping all the ground it lost on Monday. Mediatek
shares rose 0.57 percent, lifting the electronics sub-index
.TELI 0.75 percent.
The financial sector .TFNI was up 0.25 percent.
(US$1=T$31.8)
(Reporting by Baker Li, Editing by Jonathan Standing

CHINA, BorgWarner Inc (BWA.N) expects compound annual sales growth of 45 percent

2010-03-22T18:41:00.000-07:00

SHANGHAI, March 23 (Reuters) - U.S. auto parts maker BorgWarner Inc (BWA.N) expects compound annual sales growth of 45 percent in China until at least 2014, its chief executive said on Tuesday, as it expands its business in the world's third-largest economy.

Timothy Manganello told Reuters in an interview on the sidelines of a business event in Shanghai that he also expected more than 15 percent of the company's sales to come from China by 2014, compared with about 12 percent now. (Reporting by Fang Yan and Edmund Klamann; Editing by Jonathan Hopfner/Reuters)

Japan's Nikkei average fell 0.3 percent on Tuesday

2010-03-22T18:36:00.000-07:00

TOKYO, March 23 (Reuters) - Japan's Nikkei average fell 0.3 percent on Tuesday, as recent gainers such as Kyocera Corp (6971.T) lost steam, with investors cautiously watching currency moves.

The benchmark Nikkei .N225 fell 31.67 points to 10,793.05. The index rose 0.8 percent on Friday, while it rose 0.7 percent on the week, for its sixth straight weekly gain.

The broader Topix was unchanged at 948.10.

Japanese markets were closed on Monday for a national holiday.

Nissan Motor Co (7201.T) was almost flat after the Nikkei business daily said it was is in talks with Daimler AG (DAIGn.DE) to procure large engines from the German firm, adding the Japanese automaker may supply electric cars and batteries to Daimler. [ID:nSGE62L0JV] (Reporting by Aiko/Reuters)

(Rio May Help China Get Foreign Mines, Albanese Says )

2010-03-22T00:05:00.000-07:00

By Bloomberg News March 22 (Bloomberg) -- Rio Tinto Group, the world's third- largest mining company, wants to help China secure overseas mines and explore for domestic deposits...

Read full story from Bloomberg

(Chinese media warns Google not to 'politicize' row)

2010-03-22T00:03:00.000-07:00

By MarketWatch HONG KONG (MarketWatch) -- An editorial issued by China's state-run news agency said Google Inc. was "politicizing" its threatened....

Read full story from MarketWatch

(Indian Stocks, Bonds Decline After Central Bank Raises Rates)

2010-03-22T00:01:00.000-07:00

By Rajhkumar K Shaaw March 22 (Bloomberg) -- Indian stocks and bonds fell after the central bank raised interest rates for the first time in almost two years....

Read full story from BusinessWeek

(Yen Rises to Week High Versus Euro on Rate Outlook, Stock Slide_)

2010-03-21T23:59:00.000-07:00

By Ron Harui March 22 (Bloomberg) -- The yen rose to a one-week high against the euro on speculation more central banks will follow India in raising interest...

Read full story from BusinessWeek

(China, HK stocks fall on rate rise worries)

2010-03-21T23:55:00.000-07:00

By Jun Ebias and Lu Jianxin HONG KONG/SHANGHAI, March 22 (Reuters) - Shares in Hong Kong and China fell at midday on Monday, joining a slump in....

Read full story from Reuters

TradingMarkets 7 Stocks You Must to Know for Monday

2010-03-19T22:05:00.000-07:00

By David Goodboy | TradingMarkets.com | March 19, 2010 Monday is a dearth of economic reports but several interesting earnings releases should add a bit of flavor...
Read full story from tradingmarkets.com

(Stocks Under $10 Weekly Summary)

2010-03-19T21:52:00.000-07:00

Stocks reversed track on Friday following a couple of weeks of steady gains. Options expiration, combined with an overbought environment and uncertainty...

Read full story from The Street.com

(Russian Firm to Bid on Air Force Tanker Program)

2010-03-19T21:46:00.000-07:00

By PETER SANDERS In another twist to the ongoing saga to replace the Air Force's aging fleet of aerial refueling tankers, United Aircraft Corp...

Read full story from online.wsj.com

( The Palm Stock Falls After a Disappointing Forecast )

2010-03-19T21:41:00.000-07:00

By BLOOMBERG NEWS Shares of Palm Inc., creator of the Pre smartphone, fell the most in more than two years in Nasdaq trading after it forecast sales this

Read full story from NY TIMES

News: Gold ends at $1,096.20, up 24.8 percent in 2009

2009-12-31T15:34:00.000-08:00

NEW YORK (Reuters) - Gold prices sealed their biggest yearly gain in three decades with a small advance on Thursday, rising for an unprecedented ninth consecutive year as dollar-hedging traders and central banks joined the rally even as safe-haven buying subsided.

Read full story from

Reuters.com

The Wall St ends 2009 with best gains since 2003

2009-12-31T15:18:00.000-08:00

NEW YORK (Reuters) - U.S. stocks ended 2009 on Thursday with their best gains since 2003, with optimism about the economy's recovery pushing the benchmark Standard & Poor's index up 23.5 percent for the year.

Read full story from
Reuters.com

Currencies

2009-03-22T22:00:00.000-07:00

The latest Currencies charts 24 hours a day.(REALTIME !) Update Every Minute!
Exchange rates and gold prices are based on the market bid.

( Desperate Rio Tinto, ambitious Chinalco )

2009-03-10T02:25:00.000-07:00

Two major takeover efforts, the first in 2004 for Canada's Noranda, the second for California's Unocal a year later, disappeared into the fog of Beijing bureaucracy and Canadian and American security paranoia, ...

Read full story from Globeinvestor.com

( Rio Tinto Reaches Agreement to Sell Jacobs Ranch Coal Mine For US$761 Million )

2009-03-10T02:23:00.000-07:00

Rio Tinto has signed a sale and purchase agreement to sell its Jacobs Ranch coal mine to Arch Coal, Inc.

Read full story from Earth Times

( Mongolia has submitted to Rio Tinto )

2009-03-10T02:21:00.000-07:00

Mongolia has submitted a draft agreement to allow mining giants Ivanhoe Mines and Rio Tinto to mine at one of the country's largest gold and copper deposits...

Read full story from PR-inside.com

( Rio sees delays in Mongolia joint venture )

2009-03-10T01:16:00.000-07:00

RIO TINTO has warned that construction of its $US3 billion Oyu Tolgoi copper-gold joint venture with Ivanhoe Mines may proceed at a slower pace than planned even if the Mongolian Government signs a long-awaited ...

Read full story from The Sydney Morning Herald

( Siemens Metals bags SAIL order )

2009-03-09T11:10:00.002-07:00

Bangalore : Siemens VAI Metals Technologies said on Wednesday that it has received an order from the Steel Authority of India Limited for a new LD converter steel mill to be built at the company's Bhilai Steel ...

Read full story from The Hindu

( Cascades Q4 loss $19 million, reversing year-ago profit of $12 million )

2009-03-01T06:41:00.000-08:00

Tissue and cardboard producer Cascades Inc. reported Friday a fourth-quarter loss of $19 million, reversing a year-ago profit of $12 million.

Read full story from Madison Publishing

( PotashCorp CEO's salary holds in '09 )

2009-02-28T22:21:00.000-08:00

The base salary of the president and CEO of Potash Corp. of Saskatchewan Inc. will not rise - or fall - in 2009.

Read full story from Regina Leader Post

( .Sherritt reports Q4 net loss of $592.1M after $463.3M Ambatovy writedown )

2009-02-26T08:04:00.000-08:00

Sherritt International Corp. has reported a net loss of $592.1 million for the fourth quarter and $289.7 million for all of 2008 after taking a $463.3-million writeoff of goodwill on the Ambatovy nickel project ...

Read full story from The Winnipeg Free Press

( .S&P lowers Anglo American rating to BBB )

2009-02-25T23:56:00.000-08:00

Standard & Poor's Ratings Services announced that it has lowered its long-term global scale corporate credit and senior unsecured debt ratings on diversified mining group Anglo American PLC by two notches to ...

Read full story from Sunday Times

( .North American Palladium Announces Fourth Quarter and Year Ended December 31, 2008 Results )

2009-02-25T19:40:00.000-08:00

North American Palladium Ltd. today announced financial results for the fourth quarter and year ended December 31, 2008.

Read full story from MarketWatch

( .Sherritt reports Q4 net loss of $592.1M after $463.3M Ambatovy writedown )

2009-02-25T15:54:00.000-08:00

Read full story from The Winnipeg Free Press

( Republican governors split over Obama stimulus )

2009-02-23T15:23:00.000-08:00

WASHINGTON (Reuters) - U.S. Republicans governors were split on Sunday over whether to accept all of the money their states stand to receive from a $787 billion economic stimulus plan which President Barack Obama signed last week...

Read full story from Reuters

( .U.S. economy to shrink in Q1, rebound seen in H2: poll )

2009-02-23T14:02:00.000-08:00

WASHINGTON (Reuters) - The U.S. economy is set to contract sharply in the first quarter, with the current cyclical downturn on track to rival the 1973-75 slump as soaring unemployment depresses demand, a survey showed.

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( Financial stocks give JSE lifeline )

2009-02-23T09:26:00.000-08:00

The JSE remained in positive territory by noon taking direction from steady European markets with banking and financial stocks offering firm support.

Read full story from Sunday Times

( Gov. Bob Riley tours ThyssenKrupp terminal under construction in Mobile )

2009-02-23T05:11:00.000-08:00

Gov. Bob Riley today toured the $115 million-plus terminal that the Alabama State Port Authority is building for steelmaker ThyssenKrupp AG .

Read full story from Alabama Live

( .Ala. AG requested to argue for Massey )

2009-02-23T00:56:00.000-08:00

On Friday, the United States Supreme Court denied a motion filed by seven state attorneys general asking to participate in March 3 oral arguments about the appeal by Hugh M. Caperton and Harman Mining against ...

Read full story from Charleston Gazette

( .Teck Cominco loses appeal to stay suit concerning Columbia damages )

2009-02-23T00:55:00.000-08:00

The Teck Cominco mining company, accused of causing environmental damage to the Columbia River in Washington state, has lost an appeal to the Supreme Court of Canada to stay a lawsuit.

Read full story from KHQ-TV Spokane

( .Alcoa cuts fewer jobs in Quad Cities )

2009-02-22T16:29:00.000-08:00

Wilson Trailer Announces Layoffs Wilson Trailer blames conditions due to the economic recession for the decision to let go dozens of workers in three states.

Read full story from KMEG

( Tata group firms 'have to survive on their own )

2009-02-22T12:21:00.000-08:00

NEW DELHI: The head of India's oldest and biggest conglomerate Tata Group says each of its nearly 100 companies will have to find its own way to survive the global financial crisis.

Read full story from Gulf Times

( .Minmetals to shop for more Australia mines: Oz CEO )

2009-02-22T11:17:00.000-08:00

SYDNEY (Reuters) - Chinese state-owned metals group Minmetals is keen to use its $1.7 billion acquisition of debt-crippled Australian miner Oz Minerals Ltd to buy more distressed firms, Oz Managing Director Andrew Michelmore said on Sunday....

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( Nearly 5 million Americans drawing jobless benefits )

2009-02-20T06:21:00.000-08:00

WASHINGTON (Reuters) - The number of U.S. workers drawing unemployment aid jumped to a record high of nearly 5 million, the government said on Thursday, as a worsening economy made it increasingly hard to find jobs.

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( .The United States and Canada agree work together on new energy technologies )

2009-02-20T06:17:00.000-08:00

OTTAWA (Reuters) - The United States and Canada, two significant greenhouse gas emitters, agreed on Thursday to work together on new energy technologies to fight climate change, saying it was key to recovery from global recession.

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( .The possibility of a power struggle in North Korea )

2009-02-20T05:23:00.000-08:00

SEOUL (Reuters) - The possibility of a power struggle in North Korea made it more urgent to find a way to end the secretive state's nuclear weapons program, U.S. Secretary of State Hillary Clinton said on Thursday.

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( Oil jumps 14 percent on U.S. inventory drop )

2009-02-20T05:18:00.000-08:00

NEW YORK (Reuters) - Oil prices jumped 14 percent to top $39 a barrel on Thursday after U.S. government data showed an unexpected fall in crude inventories last week due to lower imports and higher demand.

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( JC Flowers has called on Berlin to Talk )

2009-02-20T04:20:00.000-08:00

MUNICH (Reuters) - U.S. investor JC Flowers has called on Berlin to return to the negotiating table after talks failed to resolve how the German government could take control of Hypo Real Estate (HRXG.DE), a bank that Flowers partly owns.

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( Kirin Holdings Co Ltd buy 43.25 percent stake )

2009-02-20T03:38:00.000-08:00

NEW YORK (Reuters) - Kirin Holdings Co Ltd (2503.T) has agreed to buy a 43.25 percent stake in the San Miguel Brewery Inc (SMB.PS) affiliate of Philippine foodmaker San Miguel Corp (SMC.PS) for about 100 billion yen ($1.06 billion), financial daily Nikkei said in its Friday edition...

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( Alcoa achieves 36% reduction in greenhouse gas emissions in 2008 )

2009-02-20T02:36:00.000-08:00

Alcoa , a producer and manager of aluminum, fabricated aluminum and alumina combined, revealed yesterday that it has achieved a 36% reduction in total direct greenhouse gas emissions in 2008.

Read full story from M2.com

( Swiss Life to cut MLP10 percent: source )

2009-02-20T01:33:00.000-08:00

ZURICH (Reuters) - Swiss Life (SLHN.VX) will cut its stake in MLP (MLPG.DE) in a bid to revive cooperation with the German pensions specialist, a source familiar with the situation said.

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( Satyam gets approval for stake sale, share issue )

2009-02-20T01:05:00.000-08:00

NEW DELHI (Reuters) - India's Satyam Computer Services (SATY.BO) won approval on Thursday to bring on board a strategic investor with the financial and management clout needed to ensure the survival of the fraud-hit outsourcer.

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( Newmont Mining Swings to Profit )

2009-02-19T22:28:00.000-08:00

The mining company generated net cash from continuing operations in the fourth quarter of $229 million, or 50 cents a share, on equity gold and copper sales of 1.35 million ounces and 40 million pounds, ...

Read full story from TheStreet.com

( .Westaim Corp. reverses year-ago loss with $2.7 million quarterly profit, revenues shrink )

2009-02-19T14:16:00.000-08:00

Westaim Corp. said Wednesday it saw net income of $2.7 million or three cents per share for the three months ended Dec.

Read full story from Slam Sports

( Obama's Banner "Climate Leaders Don't Buy Tar Sands" )

2009-02-19T06:54:00.000-08:00

OTTAWA (Reuters) - Greenpeace activists scaled a bridge in the Canadian capital on Wednesday and unfurled two large banners urging U.S. President Barack Obama to take a tough stand on Canada's huge oil sands when he visits on Thursday.

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( .Nasdaq dip as housing plan fails to cut fear)

2009-02-19T06:52:00.000-08:00

NEW YORK (Reuters) - The S&P 500 and Nasdaq closed marginally lower on Wednesday as President Barack Obama's $275 billion plan to prop up the housing market failed to stem worries about the economy, and bleak housing data highlighted the deepening recession.

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( .Obama pledged up to $275 billion on Wednesday )

2009-02-19T06:48:00.000-08:00

MESA, Arizona (Reuters) - U.S. President Barack Obama pledged up to $275 billion on Wednesday to help stem a wave of home foreclosures, part of a broad effort using massive sums of government money to push the country out of recession.

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( .CBS cuts dividend but profit beats estimates)

2009-02-19T06:22:00.000-08:00

NEW YORK (Reuters) - CBS Corp (CBS.N) sliced its longstanding dividend but reported higher-than-expected earnings as cost cuts offset the advertising downturn that has struck across its television, radio, and billboard businesses.

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( Hillary Clinton held up Indonesia to modernity and Islam can coexist )

2009-02-19T03:50:00.000-08:00

JAKARTA (Reuters) - U.S. Secretary of State Hillary Clinton held up Indonesia on Wednesday as proof that modernity and Islam can coexist as she visited the country where U.S. President Barack Obama spent four years as a boy...

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( .Rio Tinto's attempt to ram through a sale of up to 18% to Chinese )

2009-02-19T01:47:00.000-08:00

Anglo-Australian mining giant Rio Tinto's attempt to ram through a sale of up to 18% of the company to the Chinese was dealt another hammer blow today as one of Australia's most influential politicians kicked ...

Read full story from This Is Money

( .Alcoa will continues to reduce greenhouse gas emissions )

2009-02-18T17:29:00.000-08:00

Alcoa announced today that it continues its leadership position on climate change by achieving a 36 percent reduction in total direct greenhouse gas emissions in 2008 from its worldwide primary aluminum ...

Read full story from MBendi

( .Global assets of hedge funds may drop to $1.2 trillion )

2009-02-17T14:38:00.000-08:00

SINGAPORE (Reuters) - Global assets of hedge funds may drop to $1.2 trillion by the end of the first quarter, down 35 percent from 2007 as the number of managers decline and funds rely less on strategies that use leverage, a UBS executive said on Tuesday.
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( .Pan American has closed its previously public offering )

2009-02-17T12:36:00.000-08:00

Pan American Silver Corp. has closed its previously announced public offering of common shares ..

Read full story from Canada NewsWire

( .GM to get $4 billion )

2009-02-17T10:20:00.000-08:00

WASHINGTON (Reuters) - The U.S. government will release $4 billion in additional aid to General Motors Corp (GM.N) on Tuesday as planned, a White House aide said on Monday, ahead of the deadline for the automaker to submit a new survival plan.
Read full story from The Reuters

( .Trump Entertainment may file bankruptcy: report )

2009-02-17T10:14:00.000-08:00

PHILADELPHIA (Reuters) - Trump Entertainment Resorts Inc, Donald Trump's casino group, is expected to file Tuesday for bankruptcy, The Wall Street Journal reported.
Read full story from The Reuters

(.Rio Tinto shareholders to backup China's state-owned Chinalco )

2009-02-17T04:13:00.000-08:00

Mining giant Rio Tinto Ltd faces an uphill battle to persuade shareholders to back a tie-up with China's state-owned Chinalco that would bring in $19.5 billion and help it pay down its huge debt.

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( .Cameco net profits cut in half in the fourth quarter )

2009-02-16T19:52:00.000-08:00

The Saskatoon company says it earned $31-million or eight cents a share for the fourth quarter ended Dec.

Read full story from The Globe and Mail

( .Fushi Copperweld to Present at Roth 21st Annual OC Growth Stock Conference )

2009-02-16T11:24:00.000-08:00

/13 /PRNewswire-Asia/ -- Fushi Copperweld, Inc., , the leading global manufacturer and innovator of copper-clad bimetallic wire used in a variety of telecommunication, utility, transportation and other.,..

Read full story from Quamnet

( Novamerican Steel Inc. Changed the Name to Barzel Industries Inc )

2009-02-16T07:13:00.000-08:00

Barzel Industries Inc. , formerly known as Novamerican Steel Inc. announced today that it has changed its name from Novamerican Steel Inc.

Read full story from Earth Times

(Rio Tinto deal with Chinalco )

2009-02-16T02:55:00.000-08:00

One perspective on the Rio Tinto deal with Chinalco is that the Poms are flogging a large chunk of Australia to the Chinese.

Read full story from The Sydney Morning Herald

( Mixed response on Rio Tinto deal )

2009-02-15T01:50:00.000-08:00

RIO Tinto is confident its landmark $A29.87 billion alliance with Chinalco will clear all hurdles, amid a mixed response to the deal from investors.

Read full story from The Courier Mail

( The Severstal Wheeling Steubenville workers won't be taking a temporary shutdown )

2009-02-14T21:46:00.000-08:00

The Severstal Wheeling Steubenville workers won't be taking a temporary shutdown as early as March as was originally announced, while protracted contract talks between the United Steelworkers and Severstal ...

Read full story from Herald Star Online

( Cameco Reports Record Annual Revenue and Earnings for 2008 )

2009-02-14T17:36:00.000-08:00

SASKATOON, SASKATCHEWAN, Feb 13, 2009 -- ALL AMOUNTS ARE STATED IN CDN $ Cameco Corporation today reported 2008 adjusted net earnings of $589 million , 3% higher than in 2007 due largely to higher earnings in ...

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