Financial headlines continue their repetitive, three-year trend, stating once again that debt crisis turmoil and economic confusion have lowered Asian stocks on Monday. Benchmark oil fell to $102 a barrel, and though the dollar gained momentum opposite the euro, it lost value against the yen. The Nikkei also fell 1.4% to 9,502.95 as the yen… Continue Reading
Feelings may be mixed but many believe the U.S. economy is finally scaling the cliff after its plunge several years ago. Meanwhile, recession still looms in Europe and China’s economy is beginning to slow. According to the Bloomberg Comfort index, U.S. consumer confidence has reached a four-year high as the job market improves, stock prices… Continue Reading
According to Joerg Asmussen, executive board member of the European Central Bank, it is now time for the ECB to begin planning its “exit strategy” from the unprecedented support the bank has used to prop up banks during the recent, and ongoing, debt crisis. “The time for an exit depends on what happens on the… Continue Reading
Despite global retail struggles and general confusion, the high-end luxury market in China appears to be peaking. In 2010, luxury goods sales raked in 212 billion yuan, growing an additional 25-30% in 2011. More than 60% of the retail burst was a result of designer brands like Cartier, Jaeger-LeCoultre, Christian Dior, Burberry, Prada and Gucci,… Continue Reading
Tuesday’s strong rally on Wall Street was the signal for the rest of the world to push up markets in anticipation of a continued improvement in the US economy. In Japan investors stimulated their nation’s benchmark to a point higher than it’s been in seven months, while oil floated just under $107 per barrel. The… Continue Reading
The U.S. dollar has risen to an eleven-month high as market predictions for the United States economy become more optimistic, while German data continues to boost European shares. The economic upturn has also lowered government bonds, while raising oil prices. ZEW, the German think tank, has revealed that investors have a much more positive outlook… Continue Reading
Impala Platinum’s request that the Zimbabwean government extend their deadline to cede almost 30 percent of its share in its Zimplats subsidiary to a state-run fund was refused by government officials on Wednesday. Impala is the world’s second largest producer of platinum, and the 29.5 percent stake is valued at about $310 million at today’s… Continue Reading
Premier Wen Jiabao has lowered China’s 2012 growth target to 7.5%. The move affects Australia, Brazil, the Middle East and others by implying that the recent expansion surge is drawing to a close as the country’s leaders reach a slow-growth comfort zone. In other words, China has no intention to continue stimulating the economy, but… Continue Reading
Japanese Defense Minister Naoki Tanaka told the Japanese parliament that Japan may be forced to back down from a deal with Lockheed Martin for the purchase of 42 F-35 stealth fighter jets if prices for the state-of-the-art craft continue to climb or if manufacturing delays adversely affect their delivery date. Last year Japan announced its… Continue Reading
European stocks are maintaining a six-month high, rising for a fourth day as China takes action to boost growth and EU officials work on another Greek bailout. TNT Express increased by an impressive 60% after turning down a significant offer from United Parcel Service, while TNT shareholder PostNL climbed 50% as well. Meanwhile, the Stoxx… Continue Reading