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Daily Dispatches
Ambrose Evans-Pritchard: Do freight rates tell the true story?
Submitted by cpowell on Fri, 2007-08-24 20:34 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
August 25, 2007
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/08/25/ccfrei...
The cost of leasing cargo ships to carry coal and metal to China reached an all-time high this week, defiantly ignoring a month of panic and tumbling prices across the commodity markets.
With money markets still in distress, cut in interest rates is expected
Submitted by cpowell on Fri, 2007-08-24 17:44 Section: Daily DispatchesJitters Hint at Further Intervention
By John Authers
Financial Times, London
Friday, August 24, 2007
http://www.ft.com/cms/s/0/79cf23e6-5281-11dc-a7ab-0000779fd2ac.html
A week after the US Federal Reserve's decision to cut the rate at which it lends to banks, the move has yet to achieve its purpose of reviving global money markets.
Bank of China Ltd. discloses $10 billion in subprime holdings
Submitted by cpowell on Thu, 2007-08-23 22:57 Section: Daily DispatchesBy Luo Jun
Bloomberg News Service
Friday, August 24, 2007
http://www.bloomberg.com/apps/news?pid=20601087&sid=aP.ncmcX8zTM&refer=home
SHANGHAI -- Bank of China Ltd. was set for its biggest drop since going public after disclosing almost $9.7 billion of securities backed by U.S. subprime loans, the most of any Asian company.
Ambrose Evans-Pritchard: Here comes the insolvency crunch
Submitted by cpowell on Thu, 2007-08-23 21:45 Section: Daily DispatchesBy Ambrose Evans-Pritchard
The Telegraph, London
Thursday, August 23, 2007
http://blogs.telegraph.co.uk/business/ambrosevanspritchard/august07/mark...
The liquidity crunch is not yet over. The insolvency crunch has hardly begun.
Goldman Sachs expects dollar decline, interest rate cut
Submitted by cpowell on Thu, 2007-08-23 21:22 Section: Daily DispatchesBy Ye Xie
Bloomberg News Service
Friday, August 24, 2007
http://www.bloomberg.com/apps/news?pid=20601080&sid=aGU1K0tcAeQI
NEW YORK -- The dollar may decline to a record low against the euro in the next six months because U.S. economic growth will slow, forcing the Federal Reserve to cut interest rates, according to Goldman Sachs Group Inc.
Lance Lewis: Shocked that no one's buying gold?
Submitted by cpowell on Thu, 2007-08-23 16:22 Section: Daily Dispatches4:20p ET Thursday, August 23, 2007
Dear Friend of GATA and Gold:
Lance Lewis, founder of investment advisory firm Lewis Capital Inc. and manager of the Lewis Capital Partners hedge fund, has written a wonderful commentary predicting when demand for gold will increase dramatically.
Now Russia's banks may be in trouble
Submitted by cpowell on Thu, 2007-08-23 16:02 Section: Daily DispatchesRussian Banks 'Borrowed Too Heavily'
By Catherine Belton
Financial Times, London
Thursday, August 23, 2007
http://www.ft.com/cms/s/0/4a609028-519f-11dc-8779-0000779fd2ac.html
Russian government may be taking over gold mining
Submitted by cpowell on Thu, 2007-08-23 15:44 Section: Daily DispatchesBy Oleg Mityayev
RIA Novosti, Moscow
(Russian News and Information Agency)
Tuesday, August 21, 2007
http://en.rian.ru/analysis/20070821/73010774.html
MOSCOW -- The Russian government is preparing to take control of gold mining, another "strategic sector" of the national economy where profits are expected to soar.
ECB funding fails to relieve euro interbank market
Submitted by cpowell on Thu, 2007-08-23 13:44 Section: Daily DispatchesBy David Milliken
Reuters
Thursday, August 23, 2007
http://www.reuters.com/article/bondsNews/idUSL238417220070823
FRANKFURT, Germany -- The European Central Bank's first ever emergency injection of three-month funds was swamped with demand from banks on Thursday but brought little relief to an interbank lending market beset by credit worries.
David Callaway: Money-center banks aren't fooling anybody
Submitted by cpowell on Thu, 2007-08-23 13:33 Section: Daily DispatchesBy David Callaway
MarketWatch.com
Thursday, August 23, 2007
http://www.marketwatch.com/news/story/four-little-piggies-went-market/st...
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