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  Russian
stocks trading higher
RBC News: RBC,
05.12.2005, Moscow 11:47:21.Most shares opened higher on the
Russian stock market on Monday, December 5. The growth can be
attributed to an increase in oil... |
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 Dollar,
euro continue to trump yen
Business Report:
Tokyo - The yen hit a 32-month low against the dollar and sank
to an all-time trough against the euro on Monday as G7 powers
including Japan appeared unfazed by the currency's decline at
a weekend me... |
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 FOREX-Yen
languishes at lows vs. dollar, euro after G7
Reuters: By Eric
Burroughs, TOKYO, Dec 5 (Reuters) - The yen sank to a 32-month
low against the dollar and an all-time nadir versus the euro
on Monday after Japanese officials signalled on the sidelines
of a G... |
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Top Finance Stories
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 Blankets
designed to aid disaster victims
Boston
Herald: NORTH CHARLESTON, S.C. - A lightweight, non-woven
blanket engineered by a South Carolina company is keeping
disaster victims dry and warm from the Gulf Coast to the
mountains of Pakistan to the ... |
 India
gets to separate wheat from the chaff
The
Times Of India: NEW DELHI: The big question now is from where
will India buy wheat. The Indian wheat deal will be worth a
cool $80m and foreign buyers are already queuing up. Both the
US... |
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 Saudi
Stocks Skyrocket to Record High
Arab
News: Khalil Han ware. The Saudi stock market surged to a
record high yesterday. The Tadawul All-Share Index (TASI)
closed at an all... |
 UK
slashes economic growth target
The
Australian: BRITAIN'S economy will grow at a much slower pace
than previously forecast this year and in 2006 owing to
inflationary pressures amid spiralling oil prices, finance
minis... |
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 Gold's
not that hot when it comes to yearly averages
The
Times Of India: Gold prices have pierced the $500 mark and the
metal is at the centre of attention. While the figure seems to
be quite high, historical prices throw up some interesting... |
 Government
has deal for Aussie flu vaccine
NZ
Herald: The Ministry of Health wants to buy a "prototype" bird
flu vaccine of a type being tested in Australia.
Melbourne-based CS... |
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Business
Headlines ... |
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Brown fiddles, Britain burns
GORDON Brown faces the most critical week since he became Chancellor of the Exchequer in 1997, in what is shaping up to be a pivotal few days for British politics. On Monday afternoon, Mr. Brown will announce a humiliating downgrade of his official growth forecast for the British economy, from an over-optimistic 3% to 3.5% to a more realistic but pedestrian 2% or less. For a Chancellor who has long claimed near-omniscience in his economic forecasting and supposed ability to keep the British economy growing faster than the rest of the Western world (two ludicrous claims that have gained currency only because an economically-challenged media let him get away with them), this will be a bitter pill to swallow. Things will become even sourer when, the following day, the Conservatives elect David Cameron to be their new leader, their first potentially popular candidate for 15 years and a man who will focus all his energies on fighting Mr. Brown where he is weakest.
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The lessons of Leeson
ON 2 December 1995, Nick Leeson was jailed for his role in the collapse of Barings Bank. Ten years on, what can be learned from the downfall of the original rogue trader?
Leeson's first mistake was to have too much at stake on one prediction. He believed
Japans stock market was about to rise and made a number of large trades relying on this factor. The next morning, as the Kobe earthquake struck, his investments suffered huge losses.
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Economists warn of world recession as G7 set to meet
THE risk of a
global recession has increased significantly, several leading
forecasters are warning ahead of next weekend’s Group of Seven
meeting in London. Capital Economics, the London-based
consultancy headed by Roger Bootle, said there is now a 30%
chance of a recession in the US over the next two years. In a
report entitled “The coming US recession”, it said that risks
are high enough that investors should be seriously considering
the possibility.
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The case for going nuclear
ENERGY
policy in Great Britain has been a shambles, with disaster
avoided thanks to lucky escapes rather than good stewardship
and a cowardly government choosing to turn a blind eye to
repeated and increasingly desperate warnings over prices and
supply. In the last few weeks alone, natural gas spot prices
have more than doubled, partly because shipments from the
European Union (EU) have been held back; factories have
temporarily shut down; business leaders have expressed outrage
at the government's dithering; warnings of 1970s-style three
or four-day weeks proliferate, with fears mounting about
looming winter electricity shortages as a bitterly cold winter
looms; and the National Grid is suffering an increasing number
of breakdowns, especially in the North of England, which means
away from the glare of the metropolitan media classes. Readers
will be forgiven for concluding that this confluence of events
amounts to stumbling towards an unnecessary energy crisis,
even as ministers blithely assure us that the country is
"awash" in energy.
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There's bargains galore in dumpsters' end-of-year sale
'TIS the season to get rid of the dogs; that is, when US investors toss out their losing stocks to reduce their 2005 taxes. It's closely followed by a period of dumpster-diving on Wall Street, a short stretch of time that can present potential opportunities in stocks artificially sold for taxes rather than fundamental reasons.
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Time for action on free trade
MAKING it easier for poor countries to sell their goods and services to rich Westerners would go a long way towards curing global poverty. So it is a cause of great concern that the current "Doha round" of World Trade Organisation (WTO) talks is in crisis, with next month's meeting in Hong Kong already expected to end in failure after negotiations in London and Geneva failed to break the deadlock. Free trade is a deeply progressive policy, benefiting the poor the most by increasing their opportunities, as demonstrated by China and India's current growing embrace of globalisation and consequent transformation into economic tigers in under two decades. The world urgently needs freer trade to help create dozens of new Shanghais and
Bangalore's across Africa, South Asia and Latin America and the inability of the global political establishment to come to a new trade agreement is unforgivable, suggesting that countries, such as Great Britain and the United States that support free trade, should rethink their strategy.
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Bulls, bears and buffalos
WHY is a market that goes down called a bear market and a market that goes up, a bull market? Why not a kangaroo or rabbit market?
Some say the term "bull market" came about because the US exchange is built on what used to be a steer market. "Bear market" refers to bearskin jobbers (brokers) who would sell the fur before the bear had been killed to secure the best price that day, a contradiction of the pro-verb "don't sell the bearskin before you've killed the bear" which is a caution against over optimism.
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Why Paris is burning
LIFE in Paris and in France's other main urban
centres is slowly returning to normal - which is to say
their grim Hobbelesian ghettos will see only half a dozen cars burnt
each night, rather than scores, their alienated immigrant
youth left to fight each without fear of being disturbed by
the police. While the world has been shocked by the riots of
the past fortnight, savvy French know it was just a
heavier-than-usual dose of what passes for life in much of
their jobless suburbs, where unemployment can run at up to 40%
and more among youngsters, which surround France's cities and
major towns.
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The euro has now become damaged goods
THE news should have sent the US dollar crashing. A massive trade gap of $66bn (£37bn, E55bn), up from $59bn a month ago. So what happened? The dollar rose and the euro fell to a two-year low. Economists describe the euro is a "truly damaged currency". Its latest bout of weakness saw the European single currency lose 2% on the week, taking its fall against the dollar since August to 5% and the plunge from its December 2004 highs to a numbing 14%.
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ON WEDNESDAY evening, just a day after being elected leader of the Conservative Party, David Cameron faced his first meeting of the 1922 Committee of Tory MPs.
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 Fury as Chancellor raids oil profits to fund spending
INDUSTRY chiefs say jobs will be put at risk as companies face having to pay an extra £2bn a year to the Exchequer.
BRITAIN'S proposals to reform the EU budget - and give up a significant slice of its controversial rebate in the process - were dismissed by the European Commission yesterday in a severe blow to Tony Blair.
THE first witness to face Saddam Hussein in court told yesterday of the horrors committed under the former Iraqi dictator's rule, including the use of a meat grinder and torture.
AN ELITE group of senior Scottish Executive civil servants are to share a taxpayer-funded "golden goodbye" of nearly £1.8 million when they retire, The Scotsman can reveal.
NORTH Sea oil is expected to save Gordon Brown from humiliation today, as he finally admits that mainland Britain is suffering its worst economic growth for at least a decade.
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