News You Can Use For Monday

GLOBAL

Financial Leverage May Boost Global Growth Beyond IMF Forecast Sixth Year When it comes to world economic growth, the glass is suddenly looking a lot more than half full. The Paris-based Organization for Economic Cooperation and Development just raised its 2007 growth forecast for its 30 member nations to 2.7 percent from 2.5 percent.

Global warming 'is three times faster than worst predictions' Global warming is accelerating three times more quickly than feared, a series of startling, authoritative studies has revealed. They have found that emissions of carbon dioxide have been rising at thrice the rate in the 1990s. The Arctic ice cap is melting three times as fast - and the seas are rising twice as rapidly - as had been predicted.

US

Fed Faces Growing Pressure to Raise Interest Rates, Options Market Shows In the options market where the savviest investors take apart conventional wisdom, the Federal Reserve is facing growing pressure to consider raising interest rates as soon as December.

CHINA

China's CSI 300 Plunges 7.7 Percent, Extending Stocks Rout to $350 Billion China's benchmark stock index plunged 7.7 percent after the government's main business newspaper signaled officials won't try to halt a slump that's erased more than $350 billion of market value in four days.

China Plans to Cut Greenhouse Gas Output as Nation Nears U.S. in Emissions China plans to use hydropower, nuclear energy, biomass fuels and gas to help cut 950 million metric tons of so-called greenhouse gas output by 2010 as the country closes in on the U.S. as the biggest producer of harmful emissions.

AUSTRALIA

Australia Dollar Trades Near a 17-Year High as Prices of Gold, Copper Rise The Australian dollar rose, approaching a 17-year high, as prices for metals exported by the nation including gold and copper climbed. New Zealand's dollar strengthened to the highest in more than a month.

Australia Company Profits Rise at Fastest Pace in Two Years, Led by Banks, Retailers Australian company profits rose at the fastest pace in almost two years in the first quarter as an accelerating economy fueled earnings at banks and retailers.

METAL

Copper Rises in London as Stockpiles Fall Most in Seven Months; Zinc Drops Copper rose in London as stockpiles of the metal fell the most in more than seven months, indicating demand may slow less than expected during the northern hemisphere summer. Zinc and lead also dropped.

Gold May Climb as World's Central Banks Slow Sales This Year, Survey Shows Gold may gain for a second straight week on speculation central banks will slow sales of the metal.

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