• BP Deepwater Horizon 2010 2

    BP Asks US Court To Reconsider 'Gross Negligence' Ruling

    The finding of gross negligence in the 2010 Gulf oil spill increased the company's potential liabilities by about $18 billion.
  • Russian military

    Russia Arrests 25 Ukrainians On Sabotage, Terrorism Charges

    Ukrainian officials have accused Russia of sending FSB operatives, and explosives, into the country to stamp out anti-government protests.
  • Is Liam Hemsworth Dumping Miley Cyrus?

    Liam Hemsworth Planning To Break Off Engagement With Miley Cyrus [REPORT]

    Actor Liam Hemsworth is reportedly planning to end his engagement to former Disney star Miley Cyrus in the coming weeks.
  • Andy Murray

    Nadal And Djokovic Favored To Meet In US Open Finals

    The betting odds have Rafael Nadal and Novak Djokovic favorites in the 2013 US Open, ahead of Andy Murray.
  • Justin Bieber Surprises Selena Gomez For 21st Birthday Party

    Justin Bieber reportedly made Selena Gomez cry when he surprised her for her 21st birthday bash over the weekend
  • Firefighters Battle Blaze After Explosion In Downtown St. Louis

    A fire caused by a series of explosions near the US Bank building has rocked downtown St. Louis.
  • Global Carbon Emissions Reach Record 10 Billion Tonnes

    Obama's Climate Change Strategy Coming Soon

    President Obama is all set to announce a set of climate change reforms as early as next week.
  • Oil prices mixed at the start of a new trading month

    So far this weeks macroeconomic data from around the world has been mixed and as such we have had several equity markets starting to show the early signs of losing some of their upside momentum. January was simply a great month for most risk asset markets (see below for more details) for example WTI was up about 6.1% while the US Dow gained 5.78% (and who said oil and equities are not linked anymore?). Almost every day there have been data released that suggests the economic recovery is picking up speed as well as data pointing to a slowing of the economic recovery.
  • US Power Grid Vulnerable to Just About Everything

    As Washington hunts ill-defined al-Qaeda groups in the Middle East and Africa, and concerns itself with Iran's eventual nuclear potential, it has a much more pressing problem at home: Its energy grid is vulnerable to anyone with basic weapons and know-how.
  • Sentiment Dampened on US Data, Fiscal Cliff

    Market sentiment dampened amid concerns over fiscal cliff as Democrats and Republicans appeared to fail to compromise on measures to deal with the problem. US’s job data disappointed as impacts of hurricane Sandy became evident. These issues upstaged reemergence of geopolitical tensions in the Middle East with 3 Israelis killed in Gaza by bombing. Wall Street declined with the DJIA and S&P 500 indices losing -0.23% and -0.16% respectively. In the commodity sector, the front-month contract for WTI crude slipped -1.01% while the equivalent Brent crude contract retreated -1.46%. Gold plunged to a 6-day low of 1704.5 before settling at 1713.8, down -0.94%.
  • Weekly Fundamentals -WTI Weighting Cut as International Benchmark

    While commodities generally recorded gains during the election week, trading was choppy as crude oil prices actually plunged sharply a day after the election as the focus returned to whether the US would be able to overcome the challenge of the fiscal cliff. With election of Barack Obama as the US president, risk of gold’s outlook is to the upside as ultra accommodative monetary policy would likely be retained. As the election dust is settled, the sovereign debt crisis in the Eurozone also returned to the centre stage. At the November ECB meeting, President Draghi left the main refinancing rate at 0.75% and the OMT unchanged despite downgrade of the 17-nation region’s economic outlook. In Greece, the Parliament passed a new set of austerity measures so as to tap the new tranche of rescue loan worth of 31.5B euro. Yet, the sum might not be arrived on time and the government has to issue short-term debt next week so that it could fulfill the obligation of debt repayment on November 16...
  • Focus Returned to Fiscal Cliff and Eurozone after Obama Reelected

    The rally to celebrate Obama’s reelection was short-lived as market focus quickly turned to fiscal cliff and the lingering political gridlock with lower house being controlled by Republicans and senate by Democrats. Meanwhile, investors began to concern about the core economies in the Eurozone as the sovereign debt crisis, which has remained unresolved, has started to hurt Germany’s economy. The European Commission downgraded its growth forecasts at its latest report. Wall Street dropped with the DJIA and S&P 500 Indices losing -2.36% and -2.37% respectively. In the commodity sector, crude oil prices slumped, erasing gains made over the past 2 days as crude oil inventories rose in the US last week despite supply disruptions caused by Hurricane Sandy. Gold ended the day modestly higher although part of the gains was pared as the post-election rally faded. Obama’s reelection suggested the Fed’s asset purchases stance should be preserved, lending support to the yellow metal.
  • South Korea's tense border with the North on Sunday in a show of solidarity

    Obama Visits Korean Demilitarized Zone, Peers Into North Korea

    Obama traveled to a US military base located at the edge of the 2.5 mile wide DMZ and greeted the soldiers there, as a symbolic reassurance of its support to South Korea.
  • Workers wearing protective suits stand after water stopped flowing at the pit near the water intake canal of the Tokyo Electric Power Co.'s Fukushima Daiichi Nuclear Power Station No. 3 reactor in this handout photograph taken May 11, 2011.

    Recalling Japan's 3/11, 'Costliest Natural Catastrophe Of All Time'

    With Japan observing the one-year anniversary of its extraordinarily deadly 3/11 triple disaster on Sunday, the English-language online sites of three of the country's largest-circulation newspapers are all now covering various aspects of the earthquake, tsunami, and nuclear meltdowns associated with last March 11.
  • iPad 3 Release Rumor: Apple to Unveil 16GB, 32GB Models, Plus an 8GB iPad 2 on March 7

    Just a couple of days after Apple sent invitations to an event scheduled for next Wednesday for the release of its third generation iPad, a new round of rumors suggest that Apple will unveil two iPad 3 models and they will be accompanied by a cheaper 8GB iPad 2 model.
  • The Energy Report - Not Showing Any Love

    Moody's did not exactly send a Valentine to the global markets yesterday. Downgrades across Europe is putting deflationary pressure on the metals but oil seems to be getting support from increasing geopolitical tension. With Moody's getting moody, they cut the ratings of Italy, Malta, Portugal, Slovakia, Slovenia and Spain and lowered the outlook for eps Austria, France and the U.K. It seems that deflationary pressures are rising across Europe and perhaps the globe. We are seeing markets l...
  • Market Sentiment Lifted as Greek Parliament Approved Austerity Measures

    Market sentiment appeared to have improved in Asia Monday, probably amid the Greek parliament's approval of additional measures. European ministers and private creditors will decide this week on the rescue plan which needs to be approved before Greece's debt repayment due on March 21. Investors worried about that Greece might not be able to reach a deal with the EU/ECB/IMF troika after riots in Athens and other cities resulted in injuries to over 120 people. Despite the temporary soothe, G...
  • Morning Natural Gas Market Report

    November natural gas prices extended this week's decline during the early morning hours and established a new contract low. Some traders suggested that the natural gas market came under added pressure in the wake of a weak outside market tone and milder weather forecasts in the US.
  • Non-ferrous Metals under Pressure

    The prices of base and non-ferrous metals have suffered from increasing sales pressure during the last few weeks. Fears of another recession in the US – as well as concerns about European sovereign debt – are major contributors to bearish sentiment on the likes of copper, zinc, lead, nickel and aluminum.
  • Gold and Silver Report - Let's Do The Twist (and Shout the Buffett Rule).

    Metals prices were initially only slightly weaker as the markets opened for the new trading week in New York this morning. Gold lost $1.20 on the open to trade at $1,811 the ounce on the bid-side, while silver fell 55 cents to start Monday's session off at the $40.11 mark. The white metal later lost nearly 3% as the selling spree that took over all markets pushed it to $39.52 per ounce. For gold, the maintenance of the $1,800 level was still a priority lest it risked heading back towards the ...

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