Investor concern regarding the ongoing debt crisis and slow economic growth is likely to increase now that oil prices have reached $103 per barrel in Asia. June delivery’s benchmark oil had fallen 13 cents to $102.98 a barrel on the New York Mercantile Exchange, and the contract later fell 77 cents to $103.11. Meanwhile, Brent… Continue Reading
Investing and Global Finance News
Category Archives: International
Emerging Economies Vie for More Power in the IMF
World economies are vying for position and power as they begin a plan to raise additional funds for the International Monetary Fund with the goal of limiting the damage the euro zone debt crisis will cause. Emerging economies hope to gain more say in the Washington-based think-tank/global lender and policy making body as they decide… Continue Reading
Debt Crisis Continues to Assail Global Economy
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
U.S. Economy on the Rise
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
ECB’s Joerg Asmussen Says Europe Not Out of Crisis Yet
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
Chinese Consumers Boost Global Luxury Sales
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
Wall Street Gains Push Global Markets Higher
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
German and U.S. Economies Boost Recovery Outlook
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
Zimplats Refused Extension on Deadline to Hand Over Shares to Zimbabwean Government
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
China’s Growth Target Lowered, Economy to Rely on Consumer Spending
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