1 February, 2015 by The TZ Newswire Staff Comments Off on Currencies: Dollar rebounds from two-week low against the yen
Currencies: Dollar rebounds from two-week low against the yen
The dollar hits two-week low against the yen, only to rebound as investors covered short positions on the currency.
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1 February, 2015 by The TZ Newswire Staff Comments Off on Futures Movers: Crude drops nearly 3% as U.S. refineries strike, China data sluggish
Futures Movers: Crude drops nearly 3% as U.S. refineries strike, China data sluggish
Crude oil futures took a fresh tumble on Monday, starting in Asia after China data revealed a sustained recovery may not be possible for the country and a U.S.
1 February, 2015 by The TZ Newswire Staff Comments Off on CRH to buy Lafarge, Holcim assets for $7.3B
CRH to buy Lafarge, Holcim assets for $7.3B
Irish building supplies group CRH said it had agreed to pay $7.35 billion for assets Lafarge and Holcim had to sell ahead of their planned merger.
1 February, 2015 by The TZ Newswire Staff Comments Off on Deflation the danger as China’s factories struggle
Deflation the danger as China’s factories struggle
The risk of global deflation looms large for 2015 as surveys of China’s mammoth manufacturing sector showed excess supply and deficient demand in January drove down prices and production. While the pulse of activity was livelier in Japan, India and South Korea, they shared a common condition of slowing inflation that argued for yet more policy stimulus ahead. “The slide in global oil prices and inflation has turned out to be even bigger than anticipated,” said David Hensley, an economist at JPMorgan, and central banks from Europe to Canada to India have responded by easing policy.
1 February, 2015 by The TZ Newswire Staff Comments Off on U.S. companies face billions in Venezuela currency losses, Reuters analysis shows
U.S. companies face billions in Venezuela currency losses, Reuters analysis shows
The official rate is at 6.3 bolivars to the dollar and there are two other rates in the government system – known as SICAD 1 and SICAD 2 – at about 12 and 50. Diaper and tissue maker Kimberly-Clark Corp (KMB.N) recently announced a charge of $462 million for its Venezuelan business, leading to a fourth-quarter loss for the company, after it concluded that the appropriate exchange rate was the SICAD 2 exchange rate at 50 rather than the 6.3 it had previously used.
1 February, 2015 by The TZ Newswire Staff Comments Off on Hyundai cuts price of fuel cell car, eyes competition with Toyota
Hyundai cuts price of fuel cell car, eyes competition with Toyota
Hyundai Motor Co said it will lower the price of its Tucson fuel cell electric vehicle by 43 percent in South Korea and consider cutting prices of the car overseas to compete with models from the likes of Toyota Motor Corp. The South Korean automaker – the world’s fifth-biggest when paired with sister Kia Motors Corp – hopes to popularize fuel cell cars in its home market by cutting the price of the Tucson ix to 85 million won ($77,189).
1 February, 2015 by The TZ Newswire Staff Comments Off on US considers supplying arms to Ukraine: officials
US considers supplying arms to Ukraine: officials
NATO’ s military commander, Gen. Philip M. Breedlove, now supports providing defensive weapons and equipment to Kiev’ s beleaguered forces.