Markets (Economics)
Shares in gaming groups plummeted yesterday as the government unveiled plans to introduce tough controls on big money slot machines and give local authorities more powers to approve or reject new casino applications. The proposals, which aim to overhaul Britain's gambling laws, have been met with criticism from
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Japanese manufacturer Elpida Memory is set to invest up to Y500bn ($4.56bn) over three years to build the world's largest memory chip plant, a move that highlights the pressure on D-Ram makers to boost investment to remain competitive. This massive investment will enable Elpida to leapfrog into
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China's power generation capacity has been increasing steadily over the past 20 years, but the country is facing a severe power crisis due to unprecedented demand growth. National power consumption is forecast to rise by 4.3% annually, reaching 3,596 GWh by 2025. However, the pace of
Markets (Economics)
Global financial markets were put to the test this week as oil prices reached record highs following last weekend's attacks in Saudi Arabia. The US crude oil futures market saw a record intraday high of $42.45 a barrel in New York on Tuesday, although prices pulled back
Markets (Economics)
The Eurozone's first-quarter economic activity came in better than expected, but the recovery is far from robust. The Group of Eight leading economies warned last weekend of the threat to growth from high oil prices, a concern amplified in Europe where growth is likely to barely exceed 2
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US stocks experienced a relief rally this week as two persistent concerns, high oil prices and bond yields, began to stabilize. Bond yields, which had peaked at 4.75 per cent, settled at 4.66 per cent, while oil prices dropped below $40 a barrel, sparking a buying frenzy in
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As the European debt market continues to navigate uncertain rate conditions, several major companies are finding ways to raise funds to meet their financial obligations. Gallaher, the British tobacco company, is pricing a Eur 750m seven-year bond to yield 75 to 80 basis points over mid-swaps, while Freddie Mac, the
Stocks
Invensys, the UK-based automation and controls group, has reportedly seen a 40% increase in orders for its process systems division in March, with the momentum continuing into the new financial year. However, concerns about the company's refinancing needs and its ability to maintain margins have raised skepticism among
Markets (Economics)
Purnomo Yusgiantoro, the Opec president and Indonesian oil minister, has addressed growing concerns about the impact of high crude oil prices on economic activity. The oil cartel is committed to supplying more crude, but the current spike in prices is attributed to a lack of refinery capacity in the US.
Markets (Economics)
The UK bond market experienced significant turmoil after the Bank of England's minutes from the last monetary policy meeting hinted at a more aggressive interest rate hike. The data showed that committee members had discussed raising rates by 50 basis points but ultimately voted for a 25 basis
Stocks
Trading volatility has long been a delicate exercise, with the Chicago Board Options Exchange's (CBOE) Vix, a widely followed indicator of market risk, serving as a gauge of market sentiment. However, the Vix's limitations, such as its reliance on the less widely followed S&P
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Norsk Hydro, the Norwegian energy group, has requested clarification from the US Securities and Exchange Commission (SEC) regarding its reserves rules, particularly in relation to the Ormen Lange gas field. This move underscores the confusion among oil and gas companies about how to book proved reserves with the SEC. The
