By Loriano Mancini, Angelo Ranaldo and Jan WrampelmeyerThe foreign exchange market facilitates international trade and investment and is central to the global financial system.
The Australian Capital Territory announced on Wednesday the construction of the country's largest solar power plant. Fotowatio Renewable Ventures (FRV) will build and operate a 20-megawatt facility in a 50-hectare solar farm in Tuggeranong.
Risk assets were mixed through Europe and US trade ahead of the ECB press conference later today. The euro spiked on reports that the ECB will undertake an unlimited and sterilised buying of sovereign debt with maturities of up to three years, but would refrain from setting yield caps. EUR/USD advanced to a high of 1.2625 and remains sidelined above 1.26.
The US Redbook weekly chain store sales index was up 2.5pct on a year ago, ahead of the 1.5pct annual gain in the previous week. US productivity grew at a 2.2pct annual pace in the June quarter while labour costs rose at a 1.5pct annual rate.
By Greg PeelThe Dow closed up 11 points or 0.1%, while the S&P fell 0.1% to 1403 and the Nasdaq lost 0.
Local stocks closed in the red for a second consecutive session today, with losses generally broad-based. Disappointing US manufacturing data released overnight weighed on global sentiment, while the upcoming European Central Bank meeting has also added an air of caution; giving investors in Europe a reason to sell. The All Ordinaries Index (XAO) closed down 27.9pts or 0.6pct to 4297.7 after hitting an intra-day low of 4281.5.
Some 40,000 teachers took part in what could be Victoria state's biggest teachers' strike that forced 400 schools to close and left thousands of school kids to stay home these past days.
More risks are out there on the net as mobile computing continues to explode, according to a new report by internet security specialist McAfee Labs, with malware authors now training their attention to Android and iOS, currently the dominant platform in the mobile web universe.
The Australian sharemarket is losing ground for the second time this week and for the sixth time in eight sessions. Global markets ended in the red, with particular weakness flowing through to European equities (shares). Shares in Germany dropped by 1.2 pct and Moody's, one of the big three ratings agencies put the European Union's Aaa credit rating on negative watch. The All Ordinaries Index (XAO) is down 0.9 pct or 41 pts to 4284.6.
The stand-off between builder Grocon and the Construction, Forestry, Mining, and Energy Union (CFMEU) entered its third week on Wednesday with the protest of construction workers spreading to two more sites.
Singapore's New Creation Church recognises the power of contemporary audience-capturing ministry and strong business returns of a good investment.
In France, as in the USA, the weight of the welfare/warfare state rests on the shoulders of this next generation. In America, they are expected to support $211trn of debt and unfunded healthcare and pension liabilities.
A day before it lets loose new Windows-powered devices in New York, Nokia unleashed on Tuesday its free music streaming service, which the mobile phone maker touted as both “enjoyable and easy to use.”
Pakistan accepted on Tuesday night 22,000 Australian sheep stranded at sea for two weeks after Bahrain rejected the shipment over fears the animals are sick of orf or scabby mouth disease.
Source: Sally Lowder of The Critical Metals Report (8/28/12)http://www.theaureport.com/pub/na/14208Far from icebound, Greenland is wealthy in rare earth elements, precious metals and oil.
Royal Dutch Shell has been given an approval by the U.S. government to begin limited oil drilling in Alaska's Chukchi Sea. Shell had been waiting long for the approval, which kept it from tapping Arctic oil.
A recent press release from Thehomepage.com.au has indicated that 32% of their traffic is via a mobile device.
Consider Minneapolis, Minn. You could've bought, out of foreclosure, a three-bedroom, two-bath house of 1,356 square feet on a quarter acre lot for about $29,000. It needed a lot of work, but houses in the neighborhood recently sold for $75,000.
By Greg PeelThe Dow closed down 54 points or 0.4% while the S&P lost 0.1% to 1404 as the Nasdaq rose 0.
The Australian sharemarket lost ground for the first time this week and for the fifth time in seven sessions today. Global markets were subdued last night due to the closure of U.S markets for Labor Day. In fact, it was one of the least eventful sessions in Europe since December last year. The U.K's FTSE index rose 0.82 pct, Germany's DAX edged higher by 0.6 pct and France's CAC40 gained by 1.19 pct. Locally, the All Ordinaries Index (XAO) slid by 0.6 pct or 26 pts to 4325.6.
It is not all gloomy in the Australia housing market. According to the latest RP Data/Australian Financial Review (AFR) data, there are some suburbs that allow investors to earn amidst disappointing price declines.
The local share market is slightly lower mid-session, with no clear direction for investors after US markets were closed overnight for the Labor Day holiday. Base metals prices however rallied in London trade as weak Chinese and European manufacturing data prompted hopes that central banks across the globe will take action to boost economic growth. At lunchtime in the East, the All Ordinaries Index (XAO) is down 16.1pts or 0.4pct to 4355.5.
Even if BHP Billiton (ASX: BHP) has not totally abandoned its plans to expand the Olympic Dam uranium, copper and gold project in the long term, the giant miner has no guarantees and timeline yet for the project, South Australian Premier Jay Weatherill said on Monday.
Improvements are now underway on its Chinese production facilities, Samsung disclosed on Monday, following allegations that the Asian tech titan’s manufacturing partners in China were deliberately subjecting product assemblers to inhumane working conditions.
Tiger Airways is roaring its way back into Australian skies by offering large discounts on one-way tickets for as low as $19.95 and resuming trips between Adelaide and Melbourne on Nov 1.
By Raman Ahmed, Heleen MeesChina's monumental savings rate is a popular topic of for policy discussion.
By Andrew NelsonOne thing is for certain, there was a lot more activity in the uranium spot market in August than there was in July.
The rejection by Australian building firm Grocon of a compromise offer from the Construction, Forestry, Mining and Energy Union (CFMEU) has led to the return on Monday evening of the blockade at the Emporium construction site in Melbourne.
China has pledged more help for the deteriorating eurozone crisis, with Premier Wen Jiabao promising to purchase more EU government bonds.
Spain's government has approved the creation of a so-called "bad bank" that will take over most of the nation's worst property assets and defaulted loans
