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Tuesday, February 12, 2008

News You Can Use for Tuesday


Chavez Threatens `Economic War' Over Exxon Bid to Freeze Venezuelan Assets Venezuelan President Hugo Chavez threatened to halt oil shipments to the U.S. and wage ``economic war'' in retaliation for Exxon Mobil Corp.'s bid to freeze state oil company assets held overseas.


India's Production Growth Accelerated in December After Record Investment India's industrial production grew faster than economists estimated in December as record investment in factories, roads and power plants boosted demand for cement and steel.

NMDC Plans to Raise Iron-Ore Output by 10% to Meet Rising Domestic Demand NMDC Ltd., India's biggest iron-ore producer, will increase output by 10 percent in the year starting April to meet rising demand from steelmakers.


Copper Supply May Rise 1.9% This Year, Below Forecast, Credit Suisse Says Global copper supply may increase by less-than-previously expected both this year and next as producers face power and water shortages, and prices may surge should U.S. economic growth picks up, Credit Suisse Group said.

Brazil Soybean, Corn Crops to Rise More Than Previous Forecast, IBGE Says Soybean output in Brazil, the world's second-biggest grower, will rise more than previously forecast, the government's statistics agency said.

US Economy

Small-Business Optimism in U.S. Drops to 17-Year Low, Industry Group Says Optimism among small-business owners fell last month to a 17-year low as companies said they expect business conditions to worsen in the next six months.

Poole Says U.S. Will Probably Avoid Recession, Fed Policy in `Good Place' Federal Reserve Bank of St. Louis President William Poole said that the U.S. will probably avert a recession and that the Fed's interest-rate policy is appropriate for the slowing economy.

Ten-Year Government Bonds Advance; G-7 Says U.S. Economy May Slow Further Japanese government bonds advanced for a second day after Group of Seven policy makers said the U.S. economy may slow further and credit-market losses may widen.

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