Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Sunday, May 06, 2007

News You Can Use for Sunday

U.S. Economic Slowdown Confirms IMF Growth Forecast, Kato Says

May 6 (Bloomberg) -- The slowest U.S. growth in four years in the first quarter confirmed the International Monetary Fund's below-consensus forecast, a deputy chief at the Fund said.

``Our 2.2 percent estimate for U.S. growth this year was already lower than the consensus, so the recent data is pretty much in-line with our expectations,'' Deputy Managing Director Takatoshi Kato said in an interview today in Kyoto. ``We still expect U.S. growth to recover into next year after the housing market picks up.''

Islamic Bond Fatwas Surge on Million-Dollar Scholars (Update1)

Banks can't find enough scholars steeped in the teachings of Muhammad to accommodate the demand for new bonds that conform to Shariah law. Without men like Yaquby to bless the borrowings, none of the $70 billion of Islamic debt outstanding can be traded and companies would have been unable to sell any of the $17 billion new offerings last year, according to data compiled by Standard & Poor's and Bloomberg.

BHP Billiton, Worth $201 Billion, May Lure Buyout Offers, Merrill Says

BHP Billiton Ltd., the world's biggest mining company, could be stripped and sold for $201 billion to provide a 34 percent return to any private equity groups that make a takeover bid, according to Merrill Lynch & Co

U.S. Gasoline Pump Prices Climb Above $3 a Gallon for Third Year, AAA Says

Gasoline in the U.S. climbed above $3 a gallon at the pump for the third straight year as higher prices fail to change driving habits and demand keeps growing.

Nymex Gas Is Steady Close to Five-Month High Amid Summer Supply Concerns

Natural gas was little changed in New York after reaching the highest price in five months amid speculation that hot weather will drive demand and hurricanes will disrupt supplies this summer.

Nickel Rises to Record on Speculation Exports May Be Disrupted; Lead Gains

Nickel advanced to a record in London on speculation measures taken by the state government of Western Australia to detect pollution will disrupt shipments. Lead also rose to its highest ever and copper traded at an 11-month high.

Canada Mints 200-Pound, Solid-Gold Coin

Got change for a million? Canada does: the world's biggest pure gold coin at 200 pounds. Already, three buyers have shelled out for one of the 1 million Canadian dollar coins introduced last week.

Labels: , , , ,

Check out my new gold and energy blog at