News You Can Use for Thursday
Credit Rout May Paralyze $34 Billion of Infrastructure Loans, S&P Says The global credit rout sparked by the U.S. subprime mortgage slump may leave as much as $34 billion of leveraged loans for railroads, tollways and similar projects ``paralyzed,'' said analysts at Standard & Poor's.
Treasuries Fall as Central Banks Move to Ease Lending Squeeze; Stocks Gain Treasury notes fell as central banks moved to ease a squeeze on lending, boosting stocks and eroding demand for the relative safety of government debt.
Canada Leaves Key Interest Rate Unchanged, Scraps Hint of Later Increase The Bank of Canada left its main interest rate unchanged and scrapped a reference to the need for an increase, saying credit-market turmoil threatens the country's economic growth.
Employers in Australia Add Twice as Many Jobs as Expected on Mining Boom Australian employers hired almost twice as many extra workers as economists forecast in August, worsening a labor shortage that may drive wages higher. The nation's currency rose.
Rosneft, Lukoil Shares May Catch, Overtake Exxon, Total on Rising Profits Russian oil stocks, left behind in the global industry rally, are now set to outpace such competitors as Exxon Mobil Corp. and BP Plc in the second half of the year.
Russian Economic Growth to Accelerate Through Rest of Year, Ulyukaev Says Russia's economic growth will exceed forecasts through the rest of the year as manufacturers and consumers increase production and consumption, central bank Deputy Chairman Alexei Ulyukayev said.
Gold Climbs to Six-Week High on Demand for Haven; Silver Rises Gold rose to the highest in six weeks in London on signs turmoil in credit markets is spurring some investors to seek a haven in the precious metal. Silver gained.
Treasuries Fall as Central Banks Move to Ease Lending Squeeze; Stocks Gain Treasury notes fell as central banks moved to ease a squeeze on lending, boosting stocks and eroding demand for the relative safety of government debt.
Canada Leaves Key Interest Rate Unchanged, Scraps Hint of Later Increase The Bank of Canada left its main interest rate unchanged and scrapped a reference to the need for an increase, saying credit-market turmoil threatens the country's economic growth.
Employers in Australia Add Twice as Many Jobs as Expected on Mining Boom Australian employers hired almost twice as many extra workers as economists forecast in August, worsening a labor shortage that may drive wages higher. The nation's currency rose.
Rosneft, Lukoil Shares May Catch, Overtake Exxon, Total on Rising Profits Russian oil stocks, left behind in the global industry rally, are now set to outpace such competitors as Exxon Mobil Corp. and BP Plc in the second half of the year.
Russian Economic Growth to Accelerate Through Rest of Year, Ulyukaev Says Russia's economic growth will exceed forecasts through the rest of the year as manufacturers and consumers increase production and consumption, central bank Deputy Chairman Alexei Ulyukayev said.
Gold Climbs to Six-Week High on Demand for Haven; Silver Rises Gold rose to the highest in six weeks in London on signs turmoil in credit markets is spurring some investors to seek a haven in the precious metal. Silver gained.
Check out my new gold and energy blog at MoneyAndMarkets.com
posted by Sean Brodrick @ 7:29 AM
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