Gold Prices Fall Below $1,700 An Ounce

Gold Prices Fall Below $1,700 An Ounce

SAN FRANCISCO – Gold prices fell below the important level of $1,700 an ounce on Tuesday, with the sell-off triggered by Asian short-selling. February gold – CNS:GCG3 – dropped 1.3% or $23, to $1,698.10 an ounce on the New york Mercantile Exchange, Comex division. It hit a low of $1,695.60. November didn’t develop the type […]

Possible US Budget Deal Gives Asian Stocks A Boost

Possible US Budget Deal Gives Asian Stocks A Boost

BANGKOK: On Thursday Asian stocks got a boost due to signs that political leaders in the United States might be getting close to a budget deal in order to avoid the so-called “fiscal cliff.” Comments by the Speaker of the House, John Boehner, and President Barack Obama that a deal to avoid the imminent budget […]

World Bank Will Triple Investment In Post-Conflict African Countries

World Bank Will Triple Investment In Post-Conflict African Countries

NAIROBI: The World Bank plans to triple its lending in post-conflict African countries in five years, according to a senior official on Wednesday. The World Bank’s international Finance Corporation (IFC) has already invested a record $3.7 billion in Africa in 2012, up from $700 million six-years ago,18 of which are coming out of a conflict. […]

UBS Fined By UK Regulator In Rogue Trader Case

UBS Fined By UK Regulator In Rogue Trader Case

UBS fined 29.7 million pounds which, cost the bank $2.3 billion. LONDON – Britain’s financial regulator fined UBS AG for failures, which let a rogue trader lose $2.3 billion in the UK’s largest-ever fraud case involving a bank. On Monday, the Financial Services Authority said that it intended to fine the Swiss-based bank 29.7 million […]

Greek Government Approves Austerity Budget In Quest For Foreign Aid

Greek Government Approves Austerity Budget In Quest For Foreign Aid

ATHENS: The Greek government pushed a tough budget of tax increases and spending cuts for next year via Parliament early Monday, taking a step closer to receiving crucial rescue funding from foreign creditors. The vote took place while around 20,000 demonstrators gathered outside to protest austerity measures – the second protest in a week. The […]

President Obama Calls for Congress To Block Middle-Income Tax Hike

President Obama Calls for Congress To Block Middle-Income Tax Hike

Today, President Obama will ask for quick action to be taken by Congress to keep taxes from increasing on middle-income Americans at the beginning of next year, and start negotiations to stop automatic spending cuts, according to an administration official. President Obama is scheduled to make his statement at 1:05 p.m. (Washington time), about the […]

Financial And Economic Issues Discussed At Asia-Europe Meeting

Financial And Economic Issues Discussed At Asia-Europe Meeting

VIENTIANE – Leaders from Asia and Europe discussed financial and economic issues on Tuesday, stressing their determination to cement a partnership between the two continents at the Ninth Asia-Europe Meeting (ASEM) Summit in Lao capital of Vientiane finished up. With financial and economic issues featured high on the meeting agenda, the occasion brought together the […]

Gold Sector Takes TSX Out Of Its Slump

Gold Sector Takes TSX Out Of Its Slump

On Thursday the Toronto stock market snatched a four-session losing run with gold sector gains in the lead in the wake of sturdy earnings reports from Agnico-Eagle Mines and Goldcorp Inc. The S&P/TSX composite index closed up 1.5.21 points at 12,300.23 as traders took earnings reports from a bunch of other companies. Colin Cieszynski, a […]

Postmedia Loses $28.4 Million In Fourth-Quarter As Ad Revenue Fizzles

Postmedia Loses $28.4 Million In Fourth-Quarter As Ad Revenue Fizzles

On Thursday, Canada’s largest newspaper publisher, Postmedia Network Canada Corp., reported a net loss of $28.4 million in the fourth-quarter, down from just below the break even point in the same period in 2011, as it booked a $9.2 million loss that was related to debt refinancing, lower revenue, and increased restructuring that was offset, […]

United States Business Investment Stalls As Fiscal Cliff Is Looming

United States Business Investment Stalls As Fiscal Cliff Is Looming

Business investment in the United States showed signs of stalling last month, indicating that concerns over a possible sharp tightening in the budget are weighing on the American economy. Thursday’s other data showed the number of American citizens filing new unemployment benefit claims dropped last week, a sign that the labour market is healing, slowly. […]