 |
17 May 2005 10:34 AM
|
|
|
Oil up from three-month low:
|
|
|
Oil prices have stabilized on Tuesday, edging slightly up after experiencing an abrupt slide to the three-month low of $47.60. The market fluctuations were caused by balance of concerns about supply crunch later this year ands rise in inventories and possibility of slowdown in growth predicted, among others, by the International
|
|
|
17 May 2005 07:50 AM
|
|
|
Chinese official promises to keep currency reform going, dollar drop in view:
|
|
|
Chinese Vice Premier Zeng Peiyan promised that the nation will continue with currency reform, along with acceleration in the reforms of China’s state-owned enterprises and financial institutions. This saying contrasts with the words of Premier Wen Jiabao who said a day earlier that China will not succumb to foreign pressure to speed up its currency reform.
"
|
|
|
16 May 2005 10:46 AM
|
|
|
FHA steps up efforts to compete with subprime lenders:
|
|
|
The Federal Housing Administration is stepping up efforts to reach out to first-time buyers targeted by the subprime lending industry. The FHA, committed to providing affordable housing to low-income buyers, has taken a number of measures aimed at offering an alternative to expensive loans offered by lenders.
|
|
|
16 May 2005 08:06 AM
|
|
|
Oil drops on OPEC pledge to ample supply:
|
|
|
Oil prices edged under $48 a barrel on a pledge from OPEC to stick to its quotas despite the rise in US inventories. Sheikh Ahmad al-Fahd al-Sabah, the cartel’s current president, has also mentioned that he believed that the markets are well-supplied with crude, and a further rise in output is not necessary. OPEC, in
|
|
|
16 May 2005 08:04 AM
|
|
|
Pension crunch looms in the wake of United’s default:
|
|
|
United Airlines that was allowed last week to renounce its pension liabilities amounting to $9.8 billion, heaping its problems on the overstrained Pension Benefit Guaranty Corp. aggravates the burden put on the government agency that agreed to take on two-thirds of the liabilities, amounting to $6.6 billion. The rest of the debt
|
|
|
13 May 2005 09:17 AM
|
|
|
New developments of Chinese foreign exchange trading mean much and nothing:
|
|
|
China persists denying its plans to change the value of its politically regulated currency, the yuan.
China’s central bank governor Zhou Xiaochuan stated the government has no plans to revalue the yuan when it expands
|
|
|
13 May 2005 07:12 AM
|
|
|
Industry group passes rule to restrict access to MLS for rivals:
|
|
|
The National Association of Realtors, the regulator of the real estate industry, intends to limit the ability of online operators to show information about homes for sale.
The new regulation would affect the systems called multiple-listing services (MLS) that display houses available
|
|
|
12 May 2005 11:11 AM
|
|
|
Rising inventories push oil under $50:
|
|
|
Crude oil retreated under $50 a barrel on increase in US crude stocks and projections of a slowdown in demand this year due to soaring energy prices.
|
|
|
12 May 2005 08:55 AM
|
|
|
Bond Investors Tread in Rough Waters:
|
|
|
Clouds are gathering over the US credit market as prices on derivatives start moving out of correlation, the high-yield market strives to digest the huge automakers’ debt after S&P roiled the markets with a downgrade, and the synchrony between the prices of bonds, stocks, and credit derivatives is broken. Investors have woken
|
|
|
12 May 2005 07:57 AM
|
|
|
Dollar on sound US retail sales:
|
|
|
The dollar is treading near its 2005 highs against the euro and rises against the yen on expectations of a sharp rise in U.S. retail sales in April. Robust retail sales increase the probability of the hike in the US Fed funds rate at the next policy-setting meeting. The other pieces of good news include a larger-than-expected surge
|
|
|
11 May 2005 11:10 AM
|
|
|
Oil price down on IEA report showing decline in demand growth:
|
|
|
Crude oil prices dropped on Wednesday on projections of lower demand growth due to weakening of the global economic expansion from the Paris-based International Energy Agency.
|
|
|
11 May 2005 10:31 AM
|
|
|
Bank of England expects inflation to break 2% barrier:
|
|
|
The Bank of England has said that inflation may head higher than the self-imposed barrier of 2% in 2005, retreating below this level next year. The Bank has expressed the risks to its inflation forecast as ``broadly balanced
|
|
|
10 May 2005 07:49 AM
|
|
|
SEC will sue more than one General Re executive:
|
|
|
The Securities and Exchange Commission is going to launch suits against several executives of General Re, a subsidiary of Berkshire Hathaway Inc. Thus, on May 2, Richard Napier, a senior vice president at General Re’s U.S. office, was told that he can be sued for his help to AIG in raising its reserves for claims. There are going to be more officers sued, according to a person familiar with the matter.
|
|
|
10 May 2005 07:47 AM
|
|
|
Oil prices up on concerns about fourth quarter:
|
|
|
Oil prices jumped above $52 a barrel on Tuesday on apprehensions about scarce refining capacity and rising demand later this year that dwarfed the significance of sizeable supplies at the moment.
|
|
|
06 May 2005 08:03 AM
|
|
|
Oil rises for third day in a row:
|
|
|
Crude oil prices have been on the rise for a third consecutive day topping $51 a barrel on fears of a supply crunch later in the year as OPEC strives to meet growing global demand. These apprehensions drive oil prices up despite bearish US government reports that continuously reveal rises in the nation’s crude
|
|
|
|
|
|
|