Archive for January 4th, 2012

Fresh fears about the eurozone banking system were raised when record amounts of cash were deposited with the European Central Bank and Italy’s UniCredit spooked markets with a cash call on investors. Some 453bn (378bn) was lodged in the ECB’s “deposit facility” on Tuesday night in a move that … read full news Published: Thu,… »

Automakers forecast slower U.S. sales growth in 2012, citing weak employment and economic uncertainty, even after closing December on a strong note. The industry is headed for full-year 2011 sales of about 12.8 million vehicles, 10 percent higher than 2010. U.S. auto sales have been a relative br… read full news Published: Thu, 05 Jan… »

The latest seasonally adjusted Australian Industry Group/ Commonwealth Bank Australian Performance of Services Index (Australian PSI) was 1.3 points stronger at 49.0 in December (readings below 50 indicate a contraction in activity). In three-month moving average terms, the Australian PSI sug… read full news Published: Thu, 05 Jan 2012… »

While Golds nearer term bias remains to the upside as the commodity continues to strengthen, a convincing violation of the 1,641.25 level, its Dec 212011 high is required to pave the way for further upside gains. This will push the commodity further higher and then target the 1,677.35 level, its… read full news Published: Thu,… »

Europe won some further modest respite from its raging debt crisis Wednesday as Germany and Portugal became the latest euro zone countries to borrow with relative ease. Both countries saw their borrowing costs ease in the auctions, in a further sign that investors may have temporarily put some of… read full news Published: Thu, 05… »

Scott Rothstein used to be just your average Florida lawyer known to his friends as “The Prince of Darkness.” Back in 2009 though, he was charged with running a $1 billion ponzi scheme and fled to Morrocco. He eventually came back, plead guilty, and lead the officials to members of the Gambino… read full news… »

Last year was chock-full of meaningful moments. We witnessed an Arab Spring, a Japanese earthquake, a summer crash, and a royal wedding. Wall Street was occupied and the US credit rating downgraded. We paid respects to icons such as Steve Jobs, Joe Frazier, Elizabeth Taylor, Clarence Clemons, and Al… read full news Published: Thu, 05… »

The commodity which enjoyed the biggest gain in price last year can be answered with a simple question: Got milk? That’s because milk, not gold, oil, or any of the more popular futures contracts, enjoyed about a 35.7% rise in price in 2011 to close at 18.77 cents per pound. That compares to an 11…… »

Wondering why gold has moved by over $20 in the last few minues? Wonder no more – according to a note just released by Citi analyst Tom Fitzpatrick, the gold correction “has run its course and a rally is now back on the cards.” Granted it is not all smooth sailing – “Gold may drop… »

Greece faces the immediate risk of a disorderly default in March if it doesn’t successfully manage to complete negotiations for the country’s second bailout starting later this month, Prime Minister Lucas Papademos said Wednesday. In a copy of his comments made in meetings with employer and emplo… read full news Published: Thu, 05 Jan 2012… »