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Home loan demand down 2nd week as rates rise

U.S. mortgage applications fell for a second straight week, with demand for home loan refinancing sinking to its lowest level in a month as interest rates jumped, data from an industry group showed on Wednesday.
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S Africa's gold output down, only 4th in world

Once upon a time South Africa was the largest gold producer in the world. But, things have changed now it has fallen to the fourth position in the world as the mines in the country are facing severe power problems and decline in the output. A further decline in the country's mined gold output in 2009 has now relegated the country to fourth position in the world gold production stakes.
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Gold craze may cool down in India

Last week saw gold prices sliding continuously for 8 days in Delhi bullion market, a record of sorts during the past 4 years. This has made people think that the gold prices are cooling down. Gold prices internationally are at $1,100/oz - just a shade below the all time high seen in January 2010. As an asset, gold has given strong returns over the past five years - especially as other assets faltered during the recession. However, with the world economy seemingly on the mend, it may be time for ...
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Stocks down, euro above lows before ECB verdict

World stocks slipped on Thursday while the euro held above a recent 9-month low against the dollar as the European Central Bank prepared to announce next steps in stimulus withdrawal after its policy meeting.
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Greece steps help euro, push debt premium down

The euro rose against the dollar and Greek borrowing costs fell to their lowest level since mid-February as Greece's cabinet approved new steps to fight a budget deficit, seen as key to secure EU fiscal support. European shares, however, were flat as traders said most of the news had been priced in and ahead of U.S. jobs data, though world stocks gained, on track to gain for the fourth consecutive day and near their five-week high.
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McDermott profit up, revenue down; shares fall

McDermott International Inc reported higher quarterly net income on Monday as offshore oil and gas work offset weakness in power generation systems, but it posted revenue well short of analysts' estimates.
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Fed's Kohn to step down

Federal Reserve Vice Chairman Donald Kohn, a 40-year veteran of the U.S. central bank, will step down in late June, giving President Barack Obama a freer hand to reshape the institution.
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MTN says Nhleko to step down as CEO by 2011

Phuthuma Nhleko, Chief Executive Officer of South African mobile phone group MTN (MTNJ.J), will step down as CEO and group president in March 2011, the group said on Monday.
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White House social secretary Rogers to step down

White House social secretary Desiree Rogers, who faced criticism after a two uninvited guests attended a state dinner in November, will be resigning next month, she told Chicago Sun-Times columnist Lynn Sweet on Friday.

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