Shanghai shipping slump as IMF warns China on euro slump

The shipping data came as the International Monetary Fund warned that China is vulnerable to the 'clear and present danger emanating from Europe'. Photo: ALAMY

The shipping specialist Lloyd's List said container traffic through the Port of Shanghai - the world's largest - fell by 100,000 boxes in January from a year earlier, or 4pc. Volumes fell by over one million tonnes.

The figures may have been distorted by China's Lunar Year but there has been a relentless slide in the Shanghai transport data for months.

"China's shipping markets face grievous challenges," said the Shanghai International Shipping Institute. It acknowledged that the industry in the grip of downturn and likely to face a "worsening situation" in early 2012.

The biggest falls in container volumes have been on the Asia-Europe route.

The data came as the International Monetary Fund warned that China is vulnerable to the "clear and present danger emanating from Europe" and could see growth halve to roughly 4pc if the crisis escalates.

"China's growth rate would drop abruptly if the euro area experiences a sharp recession. In the unfortunate event such a downside scenario becomes reality, China should respond with a significant fiscal package," it said.

A fall in global growth by 1.75 percentage points would cut Chinese growth by more than twice as much unless Beijing took active steps to counter the shock, showing how distorted China's economic model has become.

"China would be highly exposed through trade linkages," it said. The report is a none-too-subtle reminder that China has a huge stake in Europe's stability and should be ready to stump up more money for an IMF-led rescue.

The Fund said China had "ample room" to boost stimulus by 3pc of GDP if need be, but warned against another credit blitz through the banking system or fresh infrastructure projects.

"China still has a long way to go to digest the side effects of the surge of credit unleashed in the wake of the global crisis. A large external shock would bring many of these domestic risks more forcefully to the forefront," it said.

The IMF fears that China had already pushed debt to safe limits. The ratio of loans to GDP has doubled to almost 200pc over the last five years - a larger jump than in the US during the sub-prime bubble.

Much of this leaked into property, exacerbated by interest rates on deposit accounts last year of minus 3pc in real terms that pushed investors into hard assets.

Credit curbs have punctured the bubble, but there are worries that this could go too far. Top developer China Vanke reported a 39pc fall in home sales in January, while Guangzhou R&F recorded a 57pc drop.

"Things will be very difficult in 2012: it will be a winter and a test for the entire industry," said Mao Daqing, Vanke's vice president. A price war before Christmas failed to halt the crash in sales.

Caixin Magazine said China's once-hot property market is "turning polar" and reported that Moody's fears Hong Kong-based developers may struggle to refinance foreign debt this year.

The IMF advised Beijing to stay the course on the housing curbs. If stimulus is needed, the authorities should run a bigger budget deficit with "targeted transfers and unemployment benefits".

In a remarkable twist, the IMF proposed direct subsidies for white goods, a sort of Chinese 'cash-for-clunkers'.

"A fiscal package should be the front line of defence," it said.

View the original article here

Rolls-Royce connect £ billion deal in China

The transaction will be one of the largest unveiled to David Cameron in China visit and comes after a difficult week for the engineering firm.

"The agreement is a contract to supply and will be spread over several years, as most contracts of Rolls-Royce," said initiated the delegation in Beijing.There are no details on Rolls-Royce industries could have been awarded the contract, or buyer .the China is a purchaser of products aviation, marine and energy company, and demand nearly 3,000 new aircraft over the next 10 to 15 years could create a market of (£ remained) of $65bn for Jet engines.

Royal Dutch Shell should also sign an agreement important Tuesday, which could come in the form of a production sharing contract with PetroChina jointly develop a shale gas project in the province of the Sichuan.Si two wells show potential, Shell could invest up to billion $ per year in the development of research, according to Simon Henry, his chief financial officer.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

European awards for the second day, unstable by the rise of China rates slide

FTSE 100 in London slipped 0 3pc 5688 investors anticipated Bank of England minutes which are expected to show a split of three tracks between rates of setters, using figures and review the global coalition of public expenditure.

DAX edged 0 lower 2pc and ACC Germany dropped France, 0 2pc.

Mirror falls on Asian markets, due to a strong decline in u.s. stocks during the night.

Export-oriented Japan was hardest hit with the Nikkei index Tokyo drying tumble 1. 65pc tp 9381 points.Australie the ASX slipped 0. 7pc and Hong Kong Hang Seng 0. 7pc.

Oil prices rose above $ 80 per barrel, after attempting to China to control inflation and a property bubble prospective he dragged more than 4pc Tuesday.

The dollar edged more after that Treasury Secretary Timothy Geithner is pulled out of a strong dollar fell against the yen, the euro and the pound sterling.

Buck the trend, with ABN Korea Southern progress 1pc and Shanghai Composite 0 6pc increasingly China markets.

"Announces China was a great surprise for the marché.Sentiment mitigated throughout Asia as investors worried that an increase in interest rates could pressure on the growth of China,"says Masatoshi Sato, Mizuho investors securities Tokyo market analyst.""

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

The increase in interest rates was the first to China since 2007.

Chinese economy has increased 10 3pc in the second quarter and its growth has propelled the resumption of the economy of a deep recession, while the United States and Europe struggle to return to economic works foot.

The US Federal Reserve should largely in an attempt to revive the flagging economy in November by launching a program to purchase more .the Treasury bonds ' objective would be to drive down interest rates on mortgages, loans and other debts and encourage Americans to spend.

Mervyn King, Governor of the Bank of England has also fed hopes to facilitate greater quantitative (ve) Tuesday when he says political currency continues to be a "powerful weapon" in support of recovery.

New York by the tumbling points 165.07, Dow Jones industrial average or 1. 5pc 10,978.62, fall below 11,000 for the first time in a little over a week .the ' broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Mounted world as China stock market slide raises rates Asia following United States, less Europe

Nikkei average of Japan more 2pc slipped and briefly touched a low interday a month on Wednesday as investors rushed to take profits. Photo: Reuters

Japan focused on exports was the hardest hit by the Nikkei index in Tokyo tumbling 1. 7pc tp 9371 points.Australie the ASX slipped 0. 7pc and Hong Kong Hang Seng 0. 6pc.

Oil prices rose above $ 80 per barrel, after attempting to China to control inflation and a property bubble prospective he dragged more than 4pc Tuesday.

The dollar edged more after that Treasury Secretary Timothy Geithner is pulled out of a strong dollar fell against the yen, the euro and the pound sterling.

Buck the trend, with ABN Korea Southern progress 1pc and Shanghai Composite 0 6pc increasingly China markets.

"China's announcement was a great surprise to the market.Attenuated sense throughout Asia as investors worried that an increase in interest rates could pressure on economic growth in China, "says Masatoshi Sato, market analyst, Mizuho investors securities in Tokyo."

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

The increase in interest rates was the first to China since 2007.

Chinese economy has increased 10 3pc in the second quarter and its growth has propelled the resumption of the economy of a deep recession, while the United States and Europe struggle to return to economic works foot.

The US Federal Reserve should largely in an attempt to revive the flagging economy in November by launching a program to purchase more .the Treasury bonds ' objective would be to drive down interest rates on mortgages, loans and other debts and encourage Americans to spend.

Mervyn King, Governor of the Bank of England has also fed hopes to facilitate greater quantitative (ve) Tuesday when he says political currency continues to be a "powerful weapon" in support of recovery.

New York by the tumbling points 165.07, Dow Jones industrial average or 1. 5pc 10,978.62, fall below 11,000 for the first time in a little over a week .the ' broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

In Europe, FTSE 100 has fallen from London, 0 6pc, DAX 0 the Germany 4pc France ACC 0 7pc.

FTSE 100 Great Britain has been opened 10 - 19 points lower on Wednesday, mirroring the weakness of global investors concerned about interest rates Chinese and cooled US mortgage bonds also viewed UK policy.

The minutes of the Bank of England is published at 9.30 a.m. and Chancellor announced review of expenditures at 1230.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

The strong economic growth China or 10 3pc markets ghosts

Chinese customers, selection of jewelry in a store of gold in Beijing. The economy is growing at the fastest rate since the beginning of the financial crisis. Photo: Getty

Data was President Hu Jintao to pressure visited us loosening controls on currency to yuan, which U.S. critics say is too little value, giving China an unfair advantage.

Gross domestic product increased by 9 8pc in Q4, accelerating from the previous quarter and analysts expectations exceeding, cementing position China as world's second largest economy.

Whereas the increase in consumption in December has facilitated the previous month, it remained stubbornly high at 4 FP6 despite efforts by Beijing to control prices, spooking the area investors who fear more clamping action.

Shanghai Stock Exchange fell by 3.. 29pc, Hong Kong fell 1. FP7, Tokyo closed 1. 13pc and Sydney lost 1pc. Open European market lower with the FTSE 100 in London sliding 0 8pc.

Analysts said the resumption of growth in the fourth quarter - partly driven by stronger exports - and inflation higher still in December supports the case for further increases in rates of interest and bank loans of borders.

"Makers step will claim a great victory in the fall of the CPI inflation below five percent in December," says Lu Ting, an economist at Bank of America-Merrill Lynch.

2010 GDP figure, place a revised 9 2pc growth in 2009 and better 10pc forecast by the World Bank, China highlight growing could in a year, when other major economies is left in the pot black.

"The economy is currently in a critical period transform recovery for stable growth," Ma Jiantang, Commissioner of the National Bureau of statistics, has told reporters.

Mr. Ma said China would boost efforts to transform its ' growing economic pattern "-echoing comments Wednesday in Washington by President Hu, who undertook to stimulate domestic demand and spending.

Price index for consumption in the country, the primary gauge of inflation, rose 3 3pc pour L'ensemble de 2010 - the Government target maximum year-round 3pc skyrocketing food prices.

The December figure was slightly better 1pc 5 increase in November, which was the fastest pace in more than two years.

In 2011, we must take the task of controlling prices very seriously,"Mr. Ma said, but added:"We have every confidence that we will be successful in 2011".

Analysts said the Government was faced with a difficult task.

"Pricing pressures remain poorly high in the coming months, and the dip in the overall CPI December inflation will likely temporary, said Brian Jackson, an analyst with the Royal Bank of the Canada."

IHS Global Insight analyst Alistair Thornton, "a new wave of credit expansion is driven inflationary pressures, both consumption and prices of asset markets with a re-acceleration in construction and investment fixed.

Exit the country millions workshops and factories rose 15 FP7 pour L'ensemble de 2010 as spending on infrastructures in urban areas of the 24 5pc Government has increased to 12 months.

Retail sales increased by 18 4pc in 2010.

As the United States and Europe struggle to stimulate growth, Beijing has been trying to slow its economy and stem of a flood of liquidity is fanning inflation and the conduct of real estate prices straining household budget.

The Central Bank new last Friday ordered banks to increase the amount of money they keep in reserve, actually put a ceiling on loans after the increase in interest rates twice in the fourth quarter.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Safe nuclear does exist, and China is leading the way with thorium

“If it begins to overheat, a little plug melts and the salts drain into a pan. There is no need for computers, or the sort of electrical pumps that were crippled by the tsunami. The reactor saves itself,” he said.

“They operate at atmospheric pressure so you don’t have the sort of hydrogen explosions we’ve seen in Japan. One of these reactors would have come through the tsunami just fine. There would have been no radiation release.”

Thorium is a silvery metal named after the Norse god of thunder. The metal has its own “issues” but no thorium reactor could easily spin out of control in the manner of Three Mile Island, Chernobyl, or now Fukushima.

Professor Robert Cywinksi from Huddersfield University said thorium must be bombarded with neutrons to drive the fission process. “There is no chain reaction. Fission dies the moment you switch off the photon beam. There are not enough neutrons for it continue of its own accord,” he said.

Dr Cywinski, who anchors a UK-wide thorium team, said the residual heat left behind in a crisis would be “orders of magnitude less” than in a uranium reactor.

The earth’s crust holds 80 years of uranium at expected usage rates, he said. Thorium is as common as lead. America has buried tons as a by-product of rare earth metals mining. Norway has so much that Oslo is planning a post-oil era where thorium might drive the country’s next great phase of wealth. Even Britain has seams in Wales and in the granite cliffs of Cornwall. Almost all the mineral is usable as fuel, compared to 0.7pc of uranium. There is enough to power civilization for thousands of years.

I write before knowing the outcome of the Fukushima drama, but as yet none of 15,000 deaths are linked to nuclear failure. Indeed, there has never been a verified death from nuclear power in the West in half a century. Perspective is in order.

We cannot avoid the fact that two to three billion extra people now expect – and will obtain – a western lifestyle. China alone plans to produce 100m cars and buses every year by 2020.

The International Atomic Energy Agency said the world currently has 442 nuclear reactors. They generate 372 gigawatts of power, providing 14pc of global electricity. Nuclear output must double over twenty years just to keep pace with the rise of the China and India.

If a string of countries cancel or cut back future reactors, let alone follow Germany’s Angela Merkel in shutting some down, they shift the strain onto gas, oil, and coal. Since the West is also cutting solar subsidies, they can hardly expect the solar industry to plug the gap.

BP’s disaster at Macondo should teach us not to expect too much from oil reserves deep below the oceans, beneath layers of blinding salt. Meanwhile, we rely uneasily on Wahabi repression to crush dissent in the Gulf and keep Arabian crude flowing our way. So where can we turn, unless we revert to coal and give up on the ice caps altogether? That would be courting fate.

US physicists in the late 1940s explored thorium fuel for power. It has a higher neutron yield than uranium, a better fission rating, longer fuel cycles, and does not require the extra cost of isotope separation.

The plans were shelved because thorium does not produce plutonium for bombs. As a happy bonus, it can burn up plutonium and toxic waste from old reactors, reducing radio-toxicity and acting as an eco-cleaner.

Dr Cywinski is developing an accelerator driven sub-critical reactor for thorium, a cutting-edge project worldwide. It needs to £300m of public money for the next phase, and £1.5bn of commercial investment to produce the first working plant. Thereafter, economies of scale kick in fast. The idea is to make pint-size 600MW reactors.

Yet any hope of state support seems to have died with the Coalition budget cuts, and with it hopes that Britain could take a lead in the energy revolution. It is understandable, of course. Funds are scarce. The UK has already put its efforts into the next generation of uranium reactors. Yet critics say vested interests with sunk costs in uranium technology succeeded in chilling enthusiasm.

The same happened a decade ago to a parallel project by Nobel laureate Carlo Rubbia at CERN (European Organization for Nuclear Research). France’s nuclear industry killed proposals for funding from Brussels, though a French group is now working on thorium in Grenoble.

Norway’s Aker Solution has bought Professor Rubbia’s patent. It had hoped to build the first sub-critical reactor in the UK, but seems to be giving up on Britain and locking up a deal to build it in China instead, where minds and wallets are more open.

So the Chinese will soon lead on this thorium technology as well as molten-salts. Good luck to them. They are doing Mankind a favour. We may get through the century without tearing each other apart over scarce energy and wrecking the planet.

This is my last column for a while. I am withdrawing to the Mayan uplands.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

HSBC sees China and America leading global mega-boom

 In a sweeping report entitled "The World in 2050", HSBC said China at $24.6 trillion (constant 2000 dollars) and the US at $22.3 trillion will together tower over the global economy. 

Crunching everything from fertility rates to schooling levels and the rule of law, HSBC predicts that the world's economic output will triple again by 2050, provided the major states can avoid conflict - trade wars, or worse - and defeat the Malthusian threat of food and water limits. Growth will rise to 3pc on average, up from 2pc over the last decade.

In a sweeping report entitled "The World in 2050", the bank said China would snatch the top slot as expected, but only narrowly. China at $24.6 trillion (constant 2000 dollars) and the US at $22.3 trillion will together tower over the global economy in bipolar condominium - or simply the G2 - with India at $8.2 trillion far behind in third slot, and parts of Europe slithering into oblivion.

Turkey will vault past Russia, settling an Ottoman score. Egypt, Malaysia and Indonesia will all move into the top 20. Muslim societies may start to reassert an economic clout unseen since the late Caliphate. Yet Brazil may disappoint again, stalling at 7th place in 2050 as its birthrate slows sharply and bad schools exact their toll.

The surprise is how well the Anglo-Saxon states hold up under HSBC's model, which is based on the theoretical work of Harvard professor Robert Barro. America's high fertility rate (2.1) will allow it too keep adding manpower long after China's workforce has begun to contract in 2020s and as even India starts to age in the 2040s.

An eightfold jump in the per capita income of China and India will keep growth brisk despite demographic headwinds, but they will not come to close to matching US living standards. Americans will be three times richer than the Chinese in 2050.

Britain at $3.6 trillion also fares well, slipping one rank to sixth place but pulling far ahead of Italy and France, and almost displacing Germany as Europe's biggest economy. This is chiefly due to the UK's healthy fertility rate (1.9), although sceptics might question whether a birthrate inflated by the EU's highest share of unmarried teenager mothers is a good foundation for prosperity.

The low fertility of Korea (1.1), Singapore (1.2) Germany (1.3), Poland (1.3), Italy (1.4), Spain (1.4) and Russia (1.4), more or less dooms these countries to aging crises and population decline unless they open the floodgates to immigration.

Japan is already deep into this phase of atrophy, explaining why the country has had such trouble shaking off the effects of the Nikkei bust. Its total population began contracting outright since 2005. It shed a record 120,000 last year, and will shrink 37pc by 2050.

"Demography matters," said Karen Ward, the report's chief author. The "big losers" are the smaller states of Switzerland, Netherlands, Sweden, Belgium, and Austria, which will mostly drop out of the top 30. "They may struggle to maintain their influence in global policy forums," she said.

HSBC works from the assumption that mankind will avoid the energy crunch and overcome the eco-deficit, a term used to describe the world's depletion rate of non-renewable assets. It calls for $46 trillion of investments in alternative forms of energy to break out of the carbon trap, and head off a supply crisis that could derail growth.

Feeding the world may be harder. The UN expects food demand to rise 70pc by 2050, yet the yield growth of crops has slowed to 1.5pc a year from 3.2pc in the 1960s. The number of people living in areas experiencing "severe water stress" will double from a third of the world population to two thirds between 1995 and 2025. The water basins irrigating the crops of the North China plain are being exhausted at an alarming rate.

HSBC admits that it economic projections are based on a "rather rosy scenario". Yet one thing seems clear. As superpowers of world food output, the US and Canada are sitting pretty.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

U.s. markets down on China rate shock, BoA mortgage fears

Bank of America have slipped 4 4pc after a CNBC report seeking to a consortium of eight investment firms, including PIMCO, BlackRock and the Federal Reserve Bank of New York, for to buy packaged loans in $47bn bonds.

"Wall Street is measure in real time of the crisis in mortgages, lenders loan loss" Chad Morganlander, an official money at Stifel, Nicolaus, says Bloomberg. " This additional overhang housing debacle goes to maintain financial stocks at Bay for a long period of time.»

BoA, largest in the country by assets, Bank also posted a quarterly loss United $ 7 due to changes in legislation in debit card transaction fees.

• FTSE 100 report

Blue-chip Dow Jones Industrial Average has dropped from 165.07 points, or 1. 48pc close 10,978.62 points on Tuesday, while the broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

"U.s. stocks remain solidly lower technology sector provides the lion's share of the burden on equity markets", analysts of Charles Schwab told AFP.

"Interest rate first hike in China since 2007 is also the cause of a sense of discomfort and materials are some pressure, exacerbated by a strong advance in the U.S. dollar, which is weighing on denominated products."

Losses followed the decision of the Central Bank China to increase interest rates for the first time in nearly three years in efforts to curb inflation and real estate boom.

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

Increasing verging on the global currency market and comes in advance of key data this week expected to show growth in the second world economy continued to slow in the third trimestre.Dans NY end trade, the pound sterling was extracted $1.5704 down from $1.5878 Monday.

Advance the dollar hit market commodities such as gold tumbled $31 $1,338 per ounce, wiping out the week gains dernière.Les oil prices fell too with Brent Crude for December delivery 4 10pc sliding to $81.10.

Shortly after the markets closed, Yahoo! said that net income has more than doubled in the third quarter of $396.1 m and revenues have increased 2pc to.$ 6bn.

The search engine giant said it expected revenue making $ 1 to. 53bn $1 in the current quarter.

The bond market has slightly augmenté.Le performance on the obligations of the US Treasury slipped 2 48pc 2 49pc Monday, while on the binding of 30 years of 10 years decreased from 3 3 93pc 90pc.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.

Cotton climb again record cold China

Fiber Monday struck $1.2471 book, increasing from 4 2pc, or 5 cents, which is the maximum allowed by the CEI scholarship in New York.

Chinese weather forecasts say that snap cold current will last at least another day.

Prices increased 9pc last week, adding to the high hit record 140 years on October 15, hail storms hit southern américain.Texas is the largest producer of cotton in America, which is the largest exporter in the world.

There are mixed views as to whether if the current high prices will remain.

"Players on the market of cotton are providing prices in the long term," said analysts of Commerzbank.Large State buyer India India, cotton company expects a correction in the coming months as well US and Indian crops have boosted .Cependant supply, prices should be capable of supporting the $1 a brand of books for the next three years to the back of robust demand growth and consumption of low storage report. »

The Department of agriculture estimates that the stock will drop by 4 3pc in the first six months of the year prochaine.fournitures were not so tight since 1995 and the prices are already 58pc place in New York this year.

Rabobank analysts believe there are six main reasons why the price of cotton is also high: tightening the Americans, the basics, the battle of arable land, a deterioration in Chinese culture, the weakness of the dollar, the Indian export ban and floods in Pakistan.

"Basic tightening global market has been extremely favourable price, but too has the weakness of the dollar and strengthening speculative interest," they said. "" """Unlike the event price in March 2008, Rabobank believes that this rally is more sustainable".

View the original article here

U.s. markets down on China rate shock, BoA mortgage fears

Bank of America have slipped 4 4pc after a CNBC report seeking to a consortium of eight investment firms, including PIMCO, BlackRock and the Federal Reserve Bank of New York, for to buy packaged loans in $47bn bonds.

"Wall Street is measure in real time of the crisis in mortgages, lenders loan loss" Chad Morganlander, an official money at Stifel, Nicolaus, says Bloomberg. " This additional overhang housing debacle goes to maintain financial stocks at Bay for a long period of time.»

BoA, largest in the country by assets, Bank also posted a quarterly loss United $ 7 due to changes in legislation in debit card transaction fees.

• FTSE 100 report

Blue-chip Dow Jones Industrial Average has dropped from 165.07 points, or 1. 48pc close 10,978.62 points on Tuesday, while the broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

"U.s. stocks remain solidly lower technology sector provides the lion's share of the burden on equity markets", analysts of Charles Schwab told AFP.

"Interest rate first hike in China since 2007 is also the cause of a sense of discomfort and materials are some pressure, exacerbated by a strong advance in the U.S. dollar, which is weighing on denominated products."

Losses followed the decision of the Central Bank China to increase interest rates for the first time in nearly three years in efforts to curb inflation and real estate boom.

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

Increasing verging on the global currency market and comes in advance of key data this week expected to show growth in the second world economy continued to slow in the third trimestre.Dans NY end trade, the pound sterling was extracted $1.5704 down from $1.5878 Monday.

Advance the dollar hit market commodities such as gold tumbled $31 $1,338 per ounce, wiping out the week gains dernière.Les oil prices fell too with Brent Crude for December delivery 4 10pc sliding to $81.10.

Shortly after the markets closed, Yahoo! said that net income has more than doubled in the third quarter of $396.1 m and revenues have increased 2pc to.$ 6bn.

The search engine giant said it expected revenue making $ 1 to. 53bn $1 in the current quarter.

The bond market has slightly augmenté.Le performance on the obligations of the US Treasury slipped 2 48pc 2 49pc Monday, while on the binding of 30 years of 10 years decreased from 3 3 93pc 90pc.

View the original article here

Mounted world as China stock market slide raises rates Asia following United States, less Europe

Nikkei average of Japan more 2pc slipped and briefly touched a low interday a month on Wednesday as investors rushed to take profits. Photo: Reuters

Japan focused on exports was the hardest hit by the Nikkei index in Tokyo tumbling 1. 7pc tp 9371 points.Australie the ASX slipped 0. 7pc and Hong Kong Hang Seng 0. 6pc.

Oil prices rose above $ 80 per barrel, after attempting to China to control inflation and a property bubble prospective he dragged more than 4pc Tuesday.

The dollar edged more after that Treasury Secretary Timothy Geithner is pulled out of a strong dollar fell against the yen, the euro and the pound sterling.

Buck the trend, with ABN Korea Southern progress 1pc and Shanghai Composite 0 6pc increasingly China markets.

"China's announcement was a great surprise to the market.Attenuated sense throughout Asia as investors worried that an increase in interest rates could pressure on economic growth in China, "says Masatoshi Sato, market analyst, Mizuho investors securities in Tokyo."

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

The increase in interest rates was the first to China since 2007.

Chinese economy has increased 10 3pc in the second quarter and its growth has propelled the resumption of the economy of a deep recession, while the United States and Europe struggle to return to economic works foot.

The US Federal Reserve should largely in an attempt to revive the flagging economy in November by launching a program to purchase more .the Treasury bonds ' objective would be to drive down interest rates on mortgages, loans and other debts and encourage Americans to spend.

Mervyn King, Governor of the Bank of England has also fed hopes to facilitate greater quantitative (ve) Tuesday when he says political currency continues to be a "powerful weapon" in support of recovery.

New York by the tumbling points 165.07, Dow Jones industrial average or 1. 5pc 10,978.62, fall below 11,000 for the first time in a little over a week .the ' broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

In Europe, FTSE 100 has fallen from London, 0 6pc, DAX 0 the Germany 4pc France ACC 0 7pc.

FTSE 100 Great Britain has been opened 10 - 19 points lower on Wednesday, mirroring the weakness of global investors concerned about interest rates Chinese and cooled US mortgage bonds also viewed UK policy.

The minutes of the Bank of England is published at 9.30 a.m. and Chancellor announced review of expenditures at 1230.

View the original article here

European awards for the second day, unstable by the rise of China rates slide

FTSE 100 in London slipped 0 3pc 5688 investors anticipated Bank of England minutes which are expected to show a split of three tracks between rates of setters, using figures and review the global coalition of public expenditure.

DAX edged 0 lower 2pc and ACC Germany dropped France, 0 2pc.

Mirror falls on Asian markets, due to a strong decline in u.s. stocks during the night.

Export-oriented Japan was hardest hit with the Nikkei index Tokyo drying tumble 1. 65pc tp 9381 points.Australie the ASX slipped 0. 7pc and Hong Kong Hang Seng 0. 7pc.

Oil prices rose above $ 80 per barrel, after attempting to China to control inflation and a property bubble prospective he dragged more than 4pc Tuesday.

The dollar edged more after that Treasury Secretary Timothy Geithner is pulled out of a strong dollar fell against the yen, the euro and the pound sterling.

Buck the trend, with ABN Korea Southern progress 1pc and Shanghai Composite 0 6pc increasingly China markets.

"Announces China was a great surprise for the marché.Sentiment mitigated throughout Asia as investors worried that an increase in interest rates could pressure on the growth of China,"says Masatoshi Sato, Mizuho investors securities Tokyo market analyst.""

Bank of China said that it will be Wednesday increase loan Yuan a year to 5 5 31pc 56pc and yuan year drops 2 5pc 2 25pc rates.

The increase in interest rates was the first to China since 2007.

Chinese economy has increased 10 3pc in the second quarter and its growth has propelled the resumption of the economy of a deep recession, while the United States and Europe struggle to return to economic works foot.

The US Federal Reserve should largely in an attempt to revive the flagging economy in November by launching a program to purchase more .the Treasury bonds ' objective would be to drive down interest rates on mortgages, loans and other debts and encourage Americans to spend.

Mervyn King, Governor of the Bank of England has also fed hopes to facilitate greater quantitative (ve) Tuesday when he says political currency continues to be a "powerful weapon" in support of recovery.

New York by the tumbling points 165.07, Dow Jones industrial average or 1. 5pc 10,978.62, fall below 11,000 for the first time in a little over a week .the ' broader S & P 500 index lost 18.81 points, or 1. 59pc 1,165.90 points.

Rich technology Nasdaq composite index shed 43.71 points, or 1 76pc 2,436.95 points, as Apple is 2 7pc on earnings as forecast estimate and IBM dropped 3 4pc due to a decline in new contracts.

View the original article here

Cotton climb again record cold China

Fiber Monday struck $1.2471 book, increasing from 4 2pc, or 5 cents, which is the maximum allowed by the CEI scholarship in New York.

Chinese weather forecasts say that snap cold current will last at least another day.

Prices increased 9pc last week, adding to the high hit record 140 years on October 15, hail storms hit southern américain.Texas is the largest producer of cotton in America, which is the largest exporter in the world.

There are mixed views as to whether if the current high prices will remain.

"Players on the market of cotton are providing prices in the long term," said analysts of Commerzbank.Large State buyer India India, cotton company expects a correction in the coming months as well US and Indian crops have boosted .Cependant supply, prices should be capable of supporting the $1 a brand of books for the next three years to the back of robust demand growth and consumption of low storage report. »

The Department of agriculture estimates that the stock will drop by 4 3pc in the first six months of the year prochaine.fournitures were not so tight since 1995 and the prices are already 58pc place in New York this year.

Rabobank analysts believe there are six main reasons why the price of cotton is also high: tightening the Americans, the basics, the battle of arable land, a deterioration in Chinese culture, the weakness of the dollar, the Indian export ban and floods in Pakistan.

"Basic tightening global market has been extremely favourable price, but too has the weakness of the dollar and strengthening speculative interest," they said. "" """Unlike the event price in March 2008, Rabobank believes that this rally is more sustainable".

View the original article here