Spain's Santander shrugged off concerns of a debt crisis at home and showed its overseas expansion ambitions are still intact with the buyout of its Mexican division for $2.5 billion.
IBTimes had an interview with James Turk, Founder & Chairman of GoldMoney.com.
Who is your target audience?
We have around 15,000 clients all over the world, and they share one common aim. They want to protect their wealth from the turmoil of national currencies and the uncertainty surrounding the ongoing financial crisis. So they want to own gold and find GoldMoney a convenient, economical and most importantly, a safe way of doing that. There is over $1 billion of customer assets in GoldMoney...
Wall Street was set for a higher open on Wednesday as Wall Street looked to build on gains in the prior session after unofficial data showed Chinese exports topped expectations, easing global recovery concerns.
Banco Santander said it was to pay $2.5 billion for the 24.9 percent of Santander Mexico it does not own, showing the Spanish bank's expansion ambitions have not been dampened by a raft of buys in the past 18 months.
Stock index futures rose on Wednesday as Wall Street looked to build on gains in the previous session after unofficial data showed Chinese exports blew past expectations, easing concerns about a global recovery.
Wall Street investment strategists are buckling up for a bumpy ride and keeping a wary eye on Europe, but there are some stock market bulls who expect their forecasts for the U.S. stock market to be vindicated.
Is platinum outperforming gold as far as hallmarking is concerned in the United Kingdom? It looks so. Recent data shows that demand for platinum hallmarking is surging while the same for gold is coming down.
Stock index futures were higher on Wednesday as Wall Street looked to build on gains in the previous session after unofficial data showed Chinese exports blew past expectations, easing concerns about a global recovery.
Gold prices have surged to the record highs on the Indian commexes hitting Rs.19,198 per ten grams on Multi-Commodity Exchange (MCX) on Tuesday. However, owing to the profit bookings at the upper levels, prices remained weak on Wednesday trading between Rs.18900 to Rs.18999 per ten grams on MCX.
Exports and a slight pickup in domestic demand fueled growth in Hungary and the Czech Republic in the first quarter, though analysts said fiscal tightening in the euro zone will slow the pace of recovery later this year.
Shares in British oil company BP fell 4.9 percent on Wednesday on concern over its dividend payment, as it continued battling to contain an oil spill in the Gulf of Mexico.
Two top Federal Reserve officials on Tuesday offered opposing signals on the direction of interest rates, highlighting an increasingly salient split within the central bank.
Stock index futures pointed to a mixed open on Wall Street on Wednesday, with futures for the S&P 500 down 0.39 percent, Dow Jones futures up 0.26 percent and Nasdaq 100 futures down 0.36 percent at 0945 GMT.
* New finmin shares PM's view inflation above 1 pct needed
* Says BOJ has taken appropriate, flexible steps on deflation
* Won't guide currency rates in certain direction -Noda
* Says Japan to report fiscal reform plans to Toronto G20
Japan's new Prime Minister Naoto Kan has vowed to tackle the country's huge public debt, but his commitment to fiscal austerity could be tested with the economic recovery still fragile.
ROYAL BANK OF SCOTLAND (RBS.L)
Mandate: The bank has opened books on a debut three-year covered euro bond, an official with one of the banks managing the sale said.
Guidance: Mid-swaps plus 125 bps area.
Major Asian oil buyers including India and China bought comparatively less loads of West African oil in June. According to reports, Indian, Chinese Taiwanese and Indonesian end-users bought a total of 1.65 million barrels per day (bpd) of crude from the oil-exporting region in 52 full or part cargoes, down from 1.72 million bpd in 56 cargoes in May.
Europe's debt crisis could disrupt global trade, hurting demand for Asian exports and sending hot money into the region if policymakers fail to act swiftly and appropriately, a top IMF official said on Wednesday.
European shares pushed higher on Wednesday, tracking gains in most Asian equity markets, as news of strong Chinese exports sparked a tentative return of risk appetite while the euro stabilized on options demand.
As driven by a late-rally in the Wall Street, WTI crude oil price ended the day with small gains. After market close, API's report showing a dip in crude inventory boosted the market further. However, we doubt if the strength can sustain as sovereign crisis in the Eurozone has shown intensified signs of contagion. Gold price retreated after hitting a new record at 1254.5. Yet, outlook is still bullish for the yellow metal as long as worries over deficits problems persist and uncertainty over glo...
Most Asian stock markets clawed back early losses on Wednesday and the euro stabilized as news of stronger-than-expected exports from China offset worries that Europe's debt problems will stifle demand for Asian goods.
Global grain output is forecasted to be at 1.60 billion metric tons in 2010-11 period due to expected increase in production in US, South America and Australia, according to Germany-based analytical firm, FO Licht.
Gold prices continued its northern journey in Asian trade Wednesday as concerns over European debt crisis escalated. Gold for immediate delivery was seen trading at $ 1237.43 an ounce at 11.00 a.m Singapore time while U.S. gold futures for August delivery eased after hitting an all-time record overnight. The contract was seen trading at $1236.59 an ounce at 11.00 a.m Singapore time on the comex division of Nymex.
The U.S. economy is well on the path to recovery and the Federal Reserve needs to begin raising interest rates soon, Kansas City Fed President Thomas Hoenig said on Tuesday.
What is your Prediction for Gold in 2010 and 2011
Many are projecting gold to perhaps double in the span of one to two years. I think this would only be the case under one or two very severe circumstances. The most prominent threats are that the euro is abandoned or substantially restructured or there are a series of prominent downgrades amongst the major economies.
Three former executives at Chicago-based hedge fund Citadel are launching a computer-driven fund, the Wall Street Journal reported on Tuesday.
The euro remained fragile on Wednesday, although it held above a recent four-year low on the dollar, and higher-risk currencies such as the Australian dollar gave back gains as Asian share markets fell.
The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.
Microsoft Corp issued one of its biggest security fixes on Tuesday, including a repair to its widely used Excel spreadsheet for flaws that could allow hackers to take control of a user's PC.
The Australian Dollar has opened firmer this morning, trading at USD0.8260 following on from yesterday's lead, as equity markets offshore posted gains. Gains in base metal prices also helped support the AUD, with copper up 1.1%, nickel up 1.5% and aluminium +2.8%.
