Dollar at Inflection Point
On Global Charm Offensive, Lagarde Promises Support to Developing Countries
The French finance minister appeared in India’s capital as part of a campaign to win support from emerging nations for her candidacy to lead the International Monetary Fund.
Some of the biggest developing nations seem to see Ms. Lagarde as their best bet for increasing their power at the I.M.F. as their economies gain status.
Fleeing to Foreign Shores
By GRAHAM BOWLEY
Some American start-ups are going abroad to raise capital because domestic markets aren't available to them.
California Insurer Says It Will Cap Earnings
By REED ABELSON
Blue Shield of California has come under sharp criticism in recent months for its double-digit rate increases.
BANGKOK — World stock markets sank Wednesday after Federal Reserve Chairman Ben Bernanke offered a sobering assessment of the U.S. economy’s growth prospects.
( Associated Press Associated Press , AP)
Nintendo stock plunges in Tokyo amid doubts about sales potential of new Wii
TOKYO — Nintendo stock plunged Wednesday in Tokyo despite the much ballyhooed unveiling of the Wii U, the successor to its hit Wii video game console.
( Associated Press Associated Press , AP)
Oil falls to near $98 in Asia amid signs OPEC may raise output quota
SINGAPORE — Oil prices fell to near $98 a barrel Wednesday in Asia amid signs OPEC may raise its crude production quotas at a meeting in Vienna.
( Associated Press Associated Press , AP)
Consumers stuck in middle as Senate sets showdown vote over limiting debit card fees
WASHINGTON — Consumers are caught in the middle of a fight between financial institutions and merchants as the Senate approaches a showdown vote over whether to block the Federal Reserve from capping fees that stores pay banks every time a shopper swipes a debit card.
( Associated Press Associated Press , AP)
Hokey Advertising Undermines China Hacking Threat
Few Chinese believe Google was the victim of a cyber attack originating from a technical college in the country's northeast, not least because of Shandong Lanxiang Vocational School's hokey advertising.
http://blogs.wsj.com/chinarealtime/?p=13874?mod=djemChinaRTR_t
Asia Today: China Denies Spying Role
Recent attempts to hack U.S. officials' Gmail accounts are part of a broad Chinese cyberspying scheme, but China's government denies any role. Meanwhile, Nintendo has its own security issues after it was hacked. Andrew LaVallee and Jake Lee discuss. -->
http://blogs.wsj.com/chinarealtime/?p=13869?mod=djemChinaRTR_t
Gold could hit $1,650 this summer - Embry
Problems in both the U.S. and Europe as well as continued growth in investment demand are some of the reasons why Sprott's John Embry believes gold is likely to have a good summer.Molycorp raising $200 mn to fund Mountain Pass rare earths mine
Molycorp plans to raise $200 million in convertible senior note offering to finance development of its big rare earths mine in California and also announces secondary offering of 10 million common shares Wednesday , 08What happens to gold if the dollar collapses as the U.N. suggests?
Now the U.N. warns of dollar collapse. If it happens how ill it materialise and what would it mean for the price of gold? Tuesday , 07 Jun 2011What are critical metals, their markets, myths and politics?
A critical metal is difficult to define and what is ‘critical' may depend on who you talk to. This article looks at the subject and into the geopolitical situation around them. Wednesday , 08 Jun 2011Nuclear's renaissance still on track
Despite the tragedy at Fukushima and Germany's high profile decision to get out of the sector, demand remains strong and new players are entering the field Tuesday , 07 Jun 2011Change in Indian gold purchasing see year-round demand
Julian Phillips' daily comment on the state of the global gold and silver markets after London's morning trade and his observations on the market in general Tuesday , 07 Jun 2011Gold climbs, hits new sterling high, as Greece crisis "stacks odds in favor of gold"
Today's morning London Gold Market report from BullionDesk sees gold back at $1550 before retreating back into the $1540s Tuesday , 07 Jun 2011Morning Market Briefing
South Korea's gross domestic product climbed 1.3 percent in the first quarter of 2011 compared to the previous three months, the Bank of Korea said on Wednesday. (Jun 8, 2011) Full Article
Japan posted a current account surplus of 405.6 billion yen in April, the Ministry of Finance said on Wednesday, down 69.5 percent on year. (Jun 8, 2011) Full Article
The U.K's shop price inflation eased to its weakest pace this year in May, reflecting slow increase in non-food prices with retailers slashing prices to boost demand, the latest report from the British Retail Consortium (BRC) showed Wednesday. (Jun 8, 2011) Full Article
Developing countries need to tighten their monetary and fiscal policies and make exchange rates more flexible to avoid overheating and keep inflation in check, the World Bank said in its latest edition of the of Global Economic Prospects. (Jun 8, 2011) Full Article
Germany shipments declined more than expected in April, pushing down the trade surplus below expectations. (Jun 8, 2011) Full Article
Japan needs a more ambitious medium-term strategy to reduce debt and maintain confidence in its public finances as the economy continues to face headwinds from its biggest earthquake on record, the International Monetary Fund (IMF) said Wednesday. (Jun 8, 2011) Full Article
The 17-nation euro area growth quickened in the first quarter on investment and government spending, which raises the chances of a rate hike next month. However, the overall growth masks divergences in the performance of member nations. (Jun 8, 2011) Full Article
German industrial output declined in April for the first time this year, largely due to a slump in the construction industry. (Jun 8, 2011) Full Article
The Daily Crux
Superinvestor Mark Mobius: These stocks will survive the next crisis
"It could happen next year, it could happen five years from now... So we have to be invested..."
Why stocks – not bullion – could be the best way to profit from gold now
"Valuations are now at levels we haven't seen since the crisis of 2008..."
Must-read: Doug Casey predicts America's next 20 years
"There is a great deal of uncertainty about what the future may look like..."
U.S. debt default unimaginable, creditors say SINGAPORE (Reuters) - Allowing a brief U.S. debt default to force government spending cuts is a "horrible idea" that could destabilize the world economy and sour already tense relations with big creditors like China, government officials and investors said on Wednesday. | Full Article
Lawmakers want more externals on Bank regulation body 07 JUN 2011 18:34 BST LONDON (Reuters) - The Bank of England's new regulation body should have more external members, lawmakers said on Tuesday, questioning the independence of former Bank executive director Alastair Clark in a hearing. | Full Article
France likely to use veto on Irish rate cut - report 08 JUN 2011 08:35 BST DUBLIN (Reuters) - France could use its veto powers to prevent Ireland getting a cut in the interest rate charged on European loans under an EU-IMF bailout, the Irish Examiner newspaper reported on Wednesday. | Full Article
Government says banks can leave guarantee scheme early 08 JUN 2011 11:24 BST LONDON (Reuters) - Banks that benefited from the government's Credit Guarantee Scheme at the height of the credit crunch will be able to buy back their debt before maturity, the government said on Wednesday. | Full Article
China warns U.S. debt-default idea is "playing with fire" June 08, 2011 07:55 AM ET SINGAPORE (Reuters) - Republican lawmakers are "playing with fire" by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China's central bank said on Wednesday. | Full Article
OPEC to hike output, Iran proposes compromise June 08, 2011 07:49 AM ET VIENNA (Reuters) - OPEC producers on Wednesday hammered out a deal to raise oil supplies for the first time in four years to support the fragile world economy. | Full Article
Germany puts Greek restructuring back on table June 08, 2011 07:13 AM ET BERLIN (Reuters) - Germany has put a Greek restructuring back on the table, demanding in a letter to its EU partners that private bond holders make a major contribution to a looming debt relief deal for the struggling euro zone member. | Full Article
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