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Daily Dispatches
Fed's help enlisted for trip to pressure China
Submitted by cpowell on Thu, 2006-11-23 16:05 Section: Daily DispatchesFed's Help Enlisted
for Trip to Press China
By Stephen R. Weisman
The New York Times
Thursday, November 23, 2006
http://www.nytimes.com/2006/11/23/business/worldbusiness/23trip.html?_r=...
ness&oref=slogin
WASHINGTON -- Treasury Secretary Henry M. Paulson Jr. has enlisted Ben S. Bernanke, the Federal Reserve chairman, to join an unusual delegation of cabinet members to China next month that will press for changes in Chinese economic policies
Silver keeps clothes from smelling -- portfolios too!
Submitted by cpowell on Thu, 2006-11-23 14:34 Section: Daily DispatchesSilver Lining: Precious Metal Keeps Clothes From Smelling
By Michael Rubinkam
Associated Press
via Centre Daily Times, State College, Pennsylvania
Thursday, November 23, 2006
http://www.centredaily.com/mld/centredaily/business/technology/16084012.htm
SCRANTON, Pennsylvania -- Bill McNally believes he has found a silver bullet for keeping the stink out of your socks. Not to mention your underwear, workout clothes, travel outfits, and hiking and hunting gear.
Predator now may be prey: Barrick stalking Freeport?
Submitted by cpowell on Thu, 2006-11-23 12:28 Section: Daily DispatchesPredators Abound as Mining Sector
Enjoys Record High Metal Prices;
All Is in Play In Consolidation Frenzy
By Andy Hoffman
Globe and Mail, Toronto
Thursday, November 23, 2006
http://www.theglobeandmail.com/servlet/story/LAC.20061123.RTAKEOVER23/TP...
Anything and everything is in play in the mining sector these days -- even the predators offering up billions of dollars for acquisitions have become prey. Hedge funds and other speculators are increasingly treating a bid by one miner for another as merely an invitation to further offers for one or both parties in the rush to consolidate amid record metals prices.
Peter Brimelow: Friday will be historic day for gold
Submitted by cpowell on Wed, 2006-11-22 23:34 Section: Daily DispatchesBy Peter Brimelow
CBSMarketWatch.com
Friday, November 22, 2006
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B056017B7%2D06F9...
NEW YORK -- Is he or isn't he?
The Gartman Letter's Dennis Gartman is seen so frequently in the media as to resemble a hot newsletter at its sizzlingest.
His media distribution circuit (not including me) is similar. But the price is not: More than $6,000 a year, I am told.
IMF talks about selling gold again
Submitted by cpowell on Wed, 2006-11-22 08:48 Section: Daily DispatchesBy Christopher Swann
Bloomberg News Service
Wednesday, November 22, 2006
http://www.bloomberg.com/apps/news?pid=email_en&refer=latin_america&sid=...
SINGAPORE -- The International Monetary Fund, the world's third-largest owner of gold, should sell some of its hoard to cover projected operating losses, say a growing number of the fund's executive directors.
The Washington-based lender predicts it will lose $87.5 million next year and $280 million in 2009. Some directors say the fund should sell a portion of its 103 million ounces of gold, valued at $64.7 billion, and invest the proceeds in interest- bearing assets.
Corporate acquisitions for 2006 set record
Submitted by cpowell on Wed, 2006-11-22 00:36 Section: Daily DispatchesBy Vinnee Tong
Associated Press
Monday, November 20, 2006
http://news.yahoo.com/s/ap/20061120/ap_on_bi_ge/merger_surge
Buyouts are having a banner year. The volume of acquisitions announced this year breaks the record set in 2000, as the dollar total reached an all-time high last week, even before a slew of takeover announcements were made Monday that pushed it even higher.
As of Monday, the total value of announced acquisitions worldwide reached $3.46 trillion for the year, exceeding the $3.33 trillion level of announced deals reached in 2000, according to Dealogic.
Dollar falls amid concerns economy is slowing and Fed may ease
Submitted by cpowell on Tue, 2006-11-21 22:46 Section: Daily DispatchesBy Daniel Kruger and Min Zeng
Bloomberg News Service
Tuesday, November 21, 2006
http://www.bloomberg.com/apps/news?pid=20601101&sid=aMSxSlXfkBUQ
NEW YORK -- The dollar declined against the euro and yen as traders speculated the economy may be slowing enough for the Federal Reserve to reduce interest rates.
The number of regional Fed banks voting not to boost borrowing costs increased as President Bush's Council of Economic Advisers lowered its growth forecast for 2007.
ETF talk boosts platinum but analyst says there's too little metal for one
Submitted by cpowell on Tue, 2006-11-21 00:08 Section: Daily DispatchesPlatinum Surges to Record
on Speculation Over EFT
By Chia-Peck Wong
Bloomberg News Service
Tuesday, November 21, 2006
http://www.bloomberg.com/apps/news?pid=20601103&sid=awqfkHR79NDw
SINGAPORE -- Platinum for immediate delivery jumped to a record amid speculation that an exchange-traded fund may be introduced, potentially boosting demand for the commodity.
ETFs purchase and store metal, allowing investors to trade assets without owning them. Silver had its biggest jump in 11 years on April 28, when Barclays Plc began offering a silver- backed ETF.
Home sales plummet in 38 states in 3rd quarter
Submitted by cpowell on Mon, 2006-11-20 22:28 Section: Daily DispatchesBy Lauren Villagran
Associated Press
Monday, November 21, 2006
http://news.yahoo.com/s/ap/20061121/ap_on_bi_ge/economy
The feeble U.S. housing market showed more frailty when third-quarter home sales plummeted in 38 states, hitting Nevada, Arizona, Florida, and California particularly hard, government data showed on Monday.
The once-booming real estate market's persistent weakness over the past year has reined in expectations for economic growth but hasn't been severe enough to offset a rising stock market, lower gas prices, and improved consumer expectations.
Hong Kong plans gold depository to compete with U.S., Europe
Submitted by cpowell on Mon, 2006-11-20 22:17 Section: Daily DispatchesGold Depository Means
to Raise Hong Kong's
Financial Standing
Olivia Chung
The Standard, Hong Kong
Tuesday, November 21, 2006
http://www.thestandard.com.hk/news_detail.asp?pp_cat=1&art_id=32305&sid=...
A gold depository at Hong Kong International Airport is in the final planning stages, Airport Authority chairman Victor Fung Kwok-king said Monday.
"The gold depository would enhance Hong Kong's status as an international financial center," Fung told reporters on the sidelines of a Hong Kong General Chamber of Commerce luncheon. "We are discussing with the Hong Kong gold industry how to operate it."
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