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April 30, 2008
US rate cut helps crude lower
Permalink: US rate cut helps crude lower by Elaine Frei
Crude oil prices were lower Wednesday after the US Energy Information Administration reported that crude oil and distillates inventories added more than anticipated last week and after the US Federal Reserve cut interest rates again.
West Texas Intermediate crude for June delivery was down $2.08 to $113.55 per barrel after the Fed ...
South African rand stronger on lower trade deficit
Permalink: South African rand stronger on lower trade deficit by Elaine Frei
The South African rand gained in relation to all major currencies on Wednesday, setting the stage for its biggest monthly gain in four years on the possibility of an interest rate hike there and on a decline in the nation’s trade deficit in March.
The rand traded at $7.5775 to ...
Cadbury Schweppes set to bid for Hershey
Permalink: Cadbury Schweppes set to bid for Hershey by Kay Murchie
Earlier this week, Mars bought Wrigley’s in a deal worth £11.6 billion. This has fuelled rumours of mergers within the sector including Britain’s Cadbury Schweppes, who is said to be considering a merger with US giant Hershey.
According to sources close to the situation, Cadbury has held discussions with Hershey in ...
Indian Banks ordered to keep more reserves.
Permalink: Indian Banks ordered to keep more reserves. by Peter Charalambous
The Reserve Bank of India has raised the cash reserve ratio to 8.25 after the central bank had decided to keep interest rates static.
This is the second time in two weeks that the central bank has increased the amount of cash that the banks must hold in reserve in order ...
April 29, 2008
Slovakian Interest rates unchanged.
Permalink: Slovakian Interest rates unchanged. by Peter Charalambous
The central bank of Slovakia has decided to keep the key interest rate unchanged for a year at 4.25 percent.
Their reasoning being that inflation will reduce through to 2009, and the chances that the country will uptake the euro currency by 2009, will be high as they expect to become the ...
Inside Track enters administration
Permalink: Inside Track enters administration by Kay Murchie
Inside Track, the company which enticed potential buy-to-let entrepreneurs via its property seminars, has gone into administration.
The firm pledged to transform a generation of Britons into 'property millionaires'. However, before the company was placed into administration, a number of its customers had threatened legal action against it after losing thousands of pounds on ...
Crude oil prices decline substantially
Permalink: Crude oil prices decline substantially by Elaine Frei
Declines in demand sent crude oil prices lower Tuesday, as did new strength in the dollar and the end of a refinery strike in Scotland.
In afternoon trade on the New York Mercantile Exchange, June contracts for West Texas Intermediate crude had dropped $2.85 to $115.90 per barrel while Brent crude was down ...
Expected end to rate cuts helps USD
Permalink: Expected end to rate cuts helps USD by Elaine Frei
The US dollar gained on the euro on Tuesday as expectations grow that the US Federal Reserve will indicate that it is near the end of its series of interest rate cuts and after the Conference Board index showed that consumer confidence in the US was down less than expected ...
Spanish Inflation begins to ease.
Permalink: Spanish Inflation begins to ease. by Peter Charalambous
Spain’s inflation rate has fallen for the first time in over eight months to just 4.2 percent as a reduced rate of growth has helped to steady prices.
Spain's EU-harmonised inflation rate fell from a record 4.6 percent last month which also followed the decline that was also experienced in Germany, which ...
Malaysian central bank keeps interest rates unchanged
Permalink: Malaysian central bank keeps interest rates unchanged by Peter Charalambous
Currently, the major world economies and especially those that are based on industrial production have shown indications that their economic activity is moderating and Southeast Asia's third-largest economy, Malaysia is no different.
Malaysia's central has bank kept the overnight interest rate unchanged 3.5 percent, even though inflation is currently at a ...
US consumer confidence at a 14 year low.
Permalink: US consumer confidence at a 14 year low. by Peter Charalambous
Consumer Confidence in the US is likely to be at its lowest level for more than 14 years as the Conference Board's confidence index is likely to fall to 61, the lowest since October 1993.
It is also a significant drop from 64.5 in March, whilst another report highlighted ...
UK Mortgage Approvals slump.
Permalink: UK Mortgage Approvals slump. by Peter Charalambous
So far this month banks have issued 64,000 loans for house purchases, compared to the 72,000 in February, which is the lowest number of approvals for over nine year as the banks are suffering from the effects of the credit crunch and the fact that despite the involvement of the government are still ...
Chinese economy at risk of extended debt
Permalink: Chinese economy at risk of extended debt by Kay Murchie
According to the 5th edition of the Coface Survey Corporate Credit Risk Management in China, payment terms between companies in China are continuing to be extended.
Growing market competition means companies are forced to grant credit by extended terms of payment to their customers.
This financial situation leads to a worrying ...
Emerging markets prove to be popular for investors
Permalink: Emerging markets prove to be popular for investors by Kay Murchie
International Financial Services London (IFSL) has reported that inflows of external finance to emerging markets increased again in 2006 to $1065 billion compared with $802 billion the previous year.
The report shows that inflows have recovered steadily from a low level of $183 billion in 2002 with Asia being ...
Capital Cranfield Trustees wins award for second year running
Permalink: Capital Cranfield Trustees wins award for second year running by Kay Murchie
Capital Cranfield Trustees has won the UK Pensions Awards Independent Trustee of the Year for the second consecutive year.
Speaking after receiving the award, Capital Cranfield’s chairman, Mike Anthony said the judges’ decision recognises the standards of professional services offered by Capital Cranfield in England and Wales and by ...
Hungarian Central Bank makes predicted interest rate move
Permalink: Hungarian Central Bank makes predicted interest rate move by Peter Charalambous
As predicted, the Hungarian benchmark interest rate has been raised by the central bank to a three year high, as rising prices have caused the need to increase the rate to 8.25%.
András Simor, governor of the Hungarian Central Bank said that the move was necessary and that its main ...
ECB should concentrate on controlling inflation
Permalink: ECB should concentrate on controlling inflation by Peter Charalambous
The European Central Bank President Jean- Claude Trichet has said that the banks sole aim is to control inflation by setting interest rates in order to maintain price stability.
Although the French and Italian governments has put their opinions to the fore as they call for the ECB to take growth ...
Wolfensohn predicts credit crunch losses will rise
Permalink: Wolfensohn predicts credit crunch losses will rise by Peter Charalambous
The former World Bank President James Wolfensohn has said that outlook for financial markets and the losses from the global credit crisis has not been fully realized and likely to be in the region of $1 trillion.
He has also indicated there could be a restructuring of the global economy and ...
April 28, 2008
Oil, metals prices gain; soybeans decline
Permalink: Oil, metals prices gain; soybeans decline by Elaine Frei
Prices for crude oil spiked to a new high in New York Monday on closures due to strikes in Scotland and Nigeria and on threats of more militant action against oil facilities in Nigeria.
West Texas Intermediate touched $110.39 per barrel in overnight trade before trading at $118.70 per barrel, a gain ...
Tokyo markets higher on banks
Permalink: Tokyo markets higher on banks by Elaine Frei
Tokyo equities markets were mixed on Monday, with the Nikkei 225 up 0.22 percent higher to 13,894.37 and the Topix index 1.63 percent higher to 1,361.75 but the Mothers market of small and mid-caps falling 1.6 percent to 601.38.
Banks were substantially higher on the possibility that the Bank of Japan will hike ...
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