Service sector shrinks at near-record pace in December
Reuters (UK) - 6-1-2009
The headline number in the purchasing managers' index rose marginally to 40.2 from November's all-time low of 40.1, somewhat better than the decline to 39.0 which was the average forecast of economists polled by Reuters. This mirrors a small rise in the parallel manufacturing survey last week ... |
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LyondellBasell U.S. units file for bankruptcy
Reuters (USA) - 6-1-2009
The world's third-largest petrochemical company, which filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York, included almost 80 units of the company. LyondellBasell Industries ACCEIN.UL is owned by Russian- born billionaire Len Blavatnik ... |
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November factory orders drop more than expected
Reuters (USA) - 6-1-2009
It was the first time factory orders had fallen for four consecutive months since the government began assembling the data in its current form in 1992, the Commerce Department said. Analysts polled by Reuters were expecting factory orders to drop 2.5 percent. An indicator of business confidence ...
U.S. service sector remained weak in December- International Herald Tribune (UK) |
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Oil up to over $50 on Russia gas and Mideast
Reuters (UK) - 6-1-2009
British time and earlier hit $50.10, the highest since December 2. London Brent was up $2.03 at $51.65. The Gaza conflict does not directly threaten any oil supplies, but unrest in the Middle East can bolster prices because countries in the region pump about a third of the world's oil. Russian gas ... |
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Dow Chemical to pursue legal action against Kuwait
Reuters (USA) - 6-1-2009
Last month, Kuwait decided to scrap a deal to form a $17.4 billion petrochemical joint venture with Dow, potentially upsetting the largest U.S. chemical company's plans to buy rival Rohm & Haas ( ROH.N . Dow had planned to use proceeds from the joint venture with Kuwait's state-run Petrochemical ... |
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FSA plans to repeal ban on financial short-selling
The Independent (UK) - 6-1-2009
On 18 September, it implemented a complete ban on the practice, applying to the same stocks. Short-selling is a procedure used by hedge funds to profit from an expected fall in the price of a company's shares. In a short sale, the hedge fund borrows a stock and sells it on, before buying it again ...
Bank meets as historic rate cut decision looms large- The Independent (UK) |
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U.S. court orders Enron's Skilling resentenced
Reuters (UK) - 6-1-2009
The ruling, handed down by the U.S. Court of Appeals for the Fifth Circuit in New Orleans on Tuesday, said the lower court erred when applying federal sentencing guidelines, so the former executive could now receive a shorter sentence. Skilling, who was convicted along with former Chairman Kenneth ... |
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Chile announces $4 billion stimulus for jobs and copper miner
International Herald Tribune (UK) - 6-1-2009
She said the plan also included a $1 billion capitalization for state copper giant Codelco, the world's largest producer, to help shore up its investment plans. The stimulus package will be funded from copper windfall earnings saved in sovereign wealth funds as well as through a bond issuance ... |
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New Year's resolutions for CEOs
International Herald Tribune (UK) - 6-1-2009
It's resolution time. In Pictures : New Year's resolutions for CEOs One: Get to the gym. Two: Spend more quality time with the kids. Three: Restore the firm's reputation and return it to profitability. Wait. You didn't think it would be that easy, did you? We learned a lot about our businesses' ...
Why Most Small Businesses Will Beat the Recession- BusinessWeek (USA) |
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Bosnian refinery reopening shows Russia's hand
International Herald Tribune (UK) - 6-1-2009
The refinery reopening was financed by Russia as part of a broad plan to shore up political alliances in the region, notably with its longtime ally Serbia, by investing in energy in the countries of the former Yugoslavia. The investment comes just as Russia is making headlines by embarking on a ... |
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