Nuclear winter
By Thursday lunchtime in London, the 18,900 employees in Royal Bank of Scotland’s investment banking division will know whether they still have jobs at Britain’s biggest government-owned lender, Bloomberg reports.
Dangerous game
Hedge funds are taking on the powerful International Monetary Fund over its plan to slash Greece's towering debt burden as time runs out on the talks that could sway the future of Europe's single currency, according to Reuters.
'Greatest threat'
Fitch Ratings pointed to Italy as the euro-zone member that poses the greatest threat to the currency bloc's future, as the lack of a regionwide plan to prevent the sovereign-debt crisis from spreading has coupled with the country's large debt burden and high borrowing costs, according to a story in the Wall Street Journal.
Protection
"A woman's best protection is a little money of her own.."
Clare Boothe Luce
more below ...
| 8 am | --- 52 week -- | |||||||
| Today | yesterday | high | low | |||||
| -------- | -------- | --------- | --------- | |||||
| FX rates | NZ$1=US$ | 0.7935 | 0.7844 | 0.8822 | 0.7174 | |||
| NZ$1=AU$ | 0.7693 | 0.7696 | 0.8085 | 0.7276 | ||||
| Gold | in US$/oz | 1,615 | 1,611 | 1,895 | 1,319 | |||
| in NZ$ | 2,035 | 2,053 | 2,314 | 1,705 | ||||
| Copper | in US$/t | 7,503 | 7,515 | 10,147 | 6,785 | |||
| in NZ$ | 9,456 | 9,580 | 13,507 | 8,299 | ||||
| Crude oil | in US$/bl | 102.28 | 100.99 | 118.70 | 89.69 | |||
| in NZ$ | 128.90 | 128.75 | 149.14 | 117.26 | ||||
| US Treasuries | 30 yr bond | 3.06% | 3.06% | 4.73% | 2.88% | |||
| Dow | DJIA 30 | 12,467 | 12,389 | 12,919 | 10,402 | |||
Unintended outcome
When Australia’s government passed laws to help its banks obtain cheaper funding with covered bonds, it didn’t count on Europe’s debt crisis wiping out the savings through higher yield premiums and record swap costs, Bloomberg reports. (Update: it looks like Bloomberg have subsequently disabled the original link, so we have updated with Google's cached version.)
Why do nations fail?
Is the Arab Spring really a revolution or just a palace coup? Will there be wholesale political change, or will one ruling clique merely replace another?
A 37% rise that signals an improving US economy
You can find what looks like good news for the US economy in the US Mint's annual report for 2011 - demand for quarters, dimes, nickels, and pennies was up. During the financial crisis, demand had plunged. "People went into their piggy banks and their coin jars and spent those coins, " says a US Mint spokesperson. "Those coins flowed back into the banks and then ultimately back to Federal Reserve. The Federal Reserve vaults started filling up and they turned off the spigot of new coin production from the United States Mint." But in 2011, coin shipments increased by 37%, a sign that people are no longer tapping their piggy banks for extra cash.
Banning commissions
Holiday timeshare operators say they will face an ''immediate and devastating'' threat if they are forced to comply with new laws designed to stamp out commissions and other conflicts of interest in the Australian financial advice industry.
Big profits
The US Federal Reserve said it transferred $US$76.9 billion in profits to the US Treasury Department last year, slightly less than its 2010 transfer but much more than in any other previous year.
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