Here is a quick snapshot of some key overnight news, views, and data.
2011's biggest risk
The risk that parlous government finances will trigger sovereign debt defaults remains one of the biggest threats facing the world in 2011, according to the World Economic Forum. These are the people who organise the annual conference at Darvos.
Making them pay
The German government is to increase the 'crisis levy' imposed on its banks - and they are not happy, especially as the new levy is far higher than the one originally proposed.
Springfield's answer
Illinois state needs to balance its books, so its Governor has pushed through a tax increase of 67%. Gov. Quinn is not a Republican, obviously. He raised the state tax from 3% to 5%, and was cheered by Bill Gross of Pimco. The mayor of its biggest city, Chicago, was less impressed.
But it will get you this ...
"Money can't buy you happiness but it does bring you a more pleasant form of misery."
- Spike Milligan
more below ...
| 7 am | --- 52 week -- | |||||||
| Today | yesterday | high | low | |||||
| -------- | -------- | --------- | --------- | |||||
| FX rates | NZ$1=US$ | 0.7698 | 0.7603 | 0.7964 | 0.6584 | |||
| NZ$1=AU$ | 0.7691 | 0.7649 | 0.8212 | 0.7408 | ||||
| Gold | in US$ | 1,384 | 1,382 | 1,421 | 1,058 | |||
| in NZ$ | 1,798 | 1,818 | 1,877 | 1,507 | ||||
| Copper | in US$ | 9,625 | 9,610 | 9,754 | 6,091 | |||
| in NZ$ | 12,503 | 12,640 | 12,811 | 8,951 | ||||
| Crude oil | in US$/bl | 91.79 | 91.91 | 91.91 | 70.15 | |||
| in NZ$ | 119.24 | 120.89 | 121.36 | 101.30 | ||||
| US Treasuries | 30 yr bond | 4.52% | 4.49% | 4.78% | 3.61% | |||
| Dow | DJIA 30 | 11,734 | 11,770 | 11,770 | 9,614 | |||
up, up, and away
It's not just oil traders who are fueling the price of crude - financial speculators are too. Their wagers are based on a view that oil prices will be fuelled by demand for oil as economies around the world return to growth.
Philanthrocapitalism
A nation unto themselves, today's super-rich display a geeky enthusiasm for innovation and ideas. They’re changing the meaning of wealth.
No chart with that title exists.
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