FOREX-Euro rallies broadly as traders trim bearish bets
The euro rose broadly on Monday as gains in global stock markets lifted risk appetite and prompted traders to pare back bets against the single euro-zone currency.
The euro moved further away from a recent four-year low to trade above $1.2250 -- its highest in more than a week. Stronger-than-expected euro zone industrial output further boosted the currency.
Surat diamond units ask for revision in tax code
Even as the Union Finance Minister is about to come up with the revised direct tax code, the Gujarat-based diamond traders' body, Surat Diamond Association has demanded some of the sea-change amendments in the proposed code, which according to sources in the finance ministry, are 'near to impossible' to implement.
Wall Street to rise at open on strong euro zone data
Stocks were set to open higher on Monday, building on last week's gains and tracking a rise in global equities, after strong euro zone industrial data reassured investors the global economic rebound is on track.
China's AgBank eyes record $23 billion IPO
The Agricultural Bank of China is seeking to raise over $23 billion by listing in Hong Kong and Shanghai, in what would be the world's biggest IPO, as China's banks shore up their capital base after a lending spree.
Oil rises 2 percent to top $75 on recovery optimism
Oil prices rallied by 2 percent to above $75 a barrel on Monday as renewed optimism about the global recovery boosted the fuel demand outlook and sent Asian and European stock markets to their highest level in four weeks.
Zimbabwe's blood diamonds and KP's green signal
A long-running controversy over Zimbabwe's allegedly illegal diamond trade, which human rights groups say is run by the army to enrich the power elite, took another twist with a watchdog official saying Harare can resume exports suspended in 2009.
Special Report: After euro zone crisis, what next?
It was after 1 a.m. on Monday May 10 when a little-known Dutch civil servant made the suggestion that may have saved the euro. European finance ministers had come together in Brussels late on the Sunday afternoon to thrash out a rescue package to stabilize the common currency. Unconvinced by a 110 billion euro deal for debt-laden Greece eight days earlier, the markets had knocked the euro 4 percen...
Stock futures up on strong European data, higher oil
Stock index futures rose on Monday, building on last week's gains and tracking higher global equities, after strong euro zone industrial data and as oil prices advanced.
Wayward predictions on abnormal surge of gold?
The mainstream media is saturated with wayward predictions and bullish views on gold amidst in the back drop of the ongoing gold rally. Will gold really spurt as they predict in a particular time frame? Some extremely bullish forecasters foresee the possibility of $1400 to $5000 and above per ounce within a particular time frame.
Stock futures up after strong European data and higher oil
Stock index futures rose on Monday, building on last week's gains and tracking higher global equities, after strong euro zone industrial data and as oil prices advanced.
Gold firms as debt worries underpin buying
Gold firmed in Europe on Monday as expectations that government measures to address elevated sovereign debt levels may ultimately prove inflationary, and as investors bet interest rates will stay low.
UBS tax deal at risk in game of political ping-pong
UBS AG's prospects hang in the balance this week as Swiss politicians vote on a tax deal that would draw a line under a legal dispute with the United States.
Canada energy companies not yet hurt by oil spill
Canadian energy companies operating offshore could face new regulations in the aftermath of the Gulf of Mexico oil spill and the more aggressive oversight may put their shares at risk.
Oil tops $75 on recovery optimism
Oil prices rallied by 2 percent to $75 a barrel on Monday as renewed optimism about the global recovery boosted the outlook for fuel demand and sent Asian and European stock markets to their highest level in four weeks.
Stock futures up as global equities extend rally
Stock index futures pointed to a higher open on Wall Street on Monday, adding to last week's gains and tracking gains in global equities, with futures for the S&P 500 up 0.6 percent, Dow Jones futures up 0.4 percent and Nasdaq 100 futures up 0.6 percent at 0821 GMT.
Investors keep up rally from year low
World stocks headed for a fourth straight day of gains on Monday as investors banked on global economic recovery to trump concerns such as euro zone sovereign debt in providing a positive backdrop for corporate earnings.
EUR/USD … is there more potential ???
Good morning dear traders, welcome in a new trading week. There was not much action last Friday in EURUSD. In comparison to EURUSD the Cable had a real moving down after bad news of UK.
Microsoft christens motion-gaming Kinect
Microsoft Corp christening its new motion-sensing game system Kinect, on Sunday offered a sneak peek of upcoming titles it hopes will help draw a new generation of casual players into the 40 million-strong Xbox game console fold.
Fed's Bullard: Europe woes haven't delayed Fed moves
Europe's sovereign debt crisis has not pushed back the timing of a hike in the Federal Reserve's benchmark interest rate, St. Louis Federal Reserve Bank President James Bullard said on Monday. Bullard, a voting member of the Fed's rate-setting panel, also said that U.S. inflation is contained now but could become a risk in the midterm due to the large U.S. budget deficit and the Fed's ultra-easy monetary policy.
Honda China lock workers say still on strike
Workers at a factory making locks for Honda Motors cars in China remained on strike on Sunday, two workers said, although Honda said the dispute had been resolved and production had resumed.
China's AgBank seeks record $23 billion IPO
The Agricultural Bank of China is seeking to raise more than $23 billion through a dual Hong Kong and Shanghai listing, according to documents on Monday, putting it on course for the world's biggest IPO.
Oil moves up along rising stocks in Asia
World oil prices advanced above $74 a barrel in Asian trade Monday mainly after equity markets surged in the region. Light sweet crude for July delivery was seen trading at $ 74.71 a barrel at 12.noon Singapore time while Brent crude was at $ 75.00 a barrel on the ICE futures exchange. Equity markets across Asia gained momentum with Japan's Nikkei rose 1.7 percent as traders bet the region's strong economic growth will boost company profits.
Gold extends gains on weak dollar
Gold prices continued its northern journey in Asian trade Monday as the dollar weakened against a basket of currencies. Gold for immediate delivery was seen trading at $1229.18 an ounce at 12 noon Singapore time while US gold futures for August delivery was at $1230.57 an ounce.
Honda China strike could spur broader worker demands
A strike at a Honda Motor parts supplier in southern China could augur broader demands across China's vast manufacturing belt as workers seek a bigger piece of the nation's growing economic wealth.
FOREX-Short-covering lifts euro, Aussie breaches barrier
The euro rose on Monday after a burst of short-covering lifted the single currency above $1.22 and further away from a four-year low, but traders were wary about chasing gains and expected its downtrend to continue. The Australian dollar climbed to its highest in a month above $0.8560, extending a rally from late last week on improved risk tolerance and tackling the first layer in a band of resistance at $0.8550-80 which is blocking its path to higher ground.
Some production resumes at strike-hit Honda Lock plant
Some production had resumed on Monday at a strike-hit factory making locks for Honda Motor Co in China, a spokesman said, amid reports the plant was looking to replace striking holdouts.
AT&T to work with law enforcement on iPad breach
AT&T Inc said on Sunday it would cooperate with law enforcement in any investigation of a security breach of Apple Inc's iPad that exposed personal information of the telephone company's customers.
Children of Muppets creator eye 3D, digital future
Kermit who? Miss Piggy what? Muppets creator Jim Henson might be shocked if he looked as his company 20 years after his death. Then again, it might be exactly what he expected and wanted with his children in control.
FOREX - Euro short-covering rally extends, Aussie climbs
The euro's short-covering rally took it briefly above $1.22 to its strongest in a week on Monday, although traders were wary about driving it too far, while the Australian dollar climbed to its highest point in four weeks.
UAW meets as union looks to claw back from crisis
United Auto Workers delegates will gather in Detroit this week to elect new leaders as the union emerges from the U.S. auto industry's near-death experience with fewer workers, lower wages and an uncertain set of bargaining chips.